Lytix Biopharma AS: GRANT OF SHARE OPTIONS

21 May 2025 16:05 CEST

Oslo, 21. May 2025. The Board of Directors of Lytix Biopharma AS (the “Company”)
has following the 2025 Annual General Meeting resolved to grant 420,000 share
options in the Company ("Options") under the Company's long term incentive
program.

The following primary insiders of Lytix Biopharma AS have been granted and
allocated Options:

- Eric Falcand, Chairperson: 100,000 Options
- Julie Puype-Dehaene, Board member: 100,000 Options
- Claus Andersson, Board member: 100,000 Options
- Marie-Louise Fjällskog, Board member: 40,000 Options
- Brynjar Forbergskog, Board member: 40,000 Options
- Kjetil Hestdal, Board member: 40,000 Options

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 5.00, which equals to the closing share price of the
Company on Euronext Growth Oslo on 16. April, 2025, which was the last business
day prior to the Recommendation from the Nomination and Compensation Committee,
22. April, 2025.

The Options will vest gradually pursuant to specific vesting schedules:

- 105,000 Options will vest 12 months after the date of grant, while the
remaining 315,000 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


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

More information:
Access the news on Oslo Bors NewsWeb site

647082_Notification of Trade - 2025-05-21.pdf