Lytix Biopharma AS: GRANT OF SHARE OPTIONS

21 Jun 2023 22:49 CEST

Oslo, 21. June 2023. The Board of Directors of Lytix Biopharma AS (the
"Company") has resolved to grant 100,000 share options in the Company
("Options") under the Company's long term incentive program.

The Options are granted without consideration and each Option will upon exercise
give the right to acquire one share in the Company. The exercise price of each
Option is NOK 7.85, which equals to the closing share price of the Company on
Euronext Growth Oslo, on June 21, 2023.

The Options will vest gradually pursuant to specific vesting schedules:
- 25,000 Options will vest on 31 March 2024 and 75,000 Options will vest with
1/36 on the last day of the 36 following months.

Vesting of Options is subject to the Option holder being qualified to be part of
the Company's long term incentive program at each vesting date.

All Options will expire and lapse if not exercised within five years from the
date of grant.

Please refer to the forms appended hereto for the disclosure of Option grants to
primary insiders of the Company.

For further information, please contact:
Gjest Breistein, CFO
Email: gjest.breistein@lytixbiopharma.com

Ole Peter Nordby, Head of Communication and Investor Relations
Email: ole.peter.nordby@lytixbiopharma.com

This announcement is made pursuant to section 5-12 of the Norwegian Securities
Trading Act and article 19 of the Market Abuse Regulation.

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