Lytix Biopharma AS – Notice of extraordinary general meeting 26 January 2026

12 Jan 2026 11:52 CET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, THE UNITED KINGDOM, AUSTRALIA, CANADA,
HONG KONG, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Oslo, Norway, 12 January 2026: Reference is made to the stock exchange
announcement published by Lytix Biopharma AS ("Lytix" or the "Company") on 9
January 2026 regarding the successful completion of a private placement (the
"Private Placement") and the Company’s intention, subject to completion of the
Private Placement and certain other conditions, to carry out a subsequent repair
offering of up to NOK 30 million, equivalent to 3,333,333 new shares, at NOK
9.00 per share (the "Subsequent Offering").

To resolve the necessary share capital increase to complete the Subsequent
Offering and to consider the other matters set out below, the Company calls for
an extraordinary general meeting (the "EGM") on 26 January 2026 at 12:00 hours
(CET). The EGM will be held at the Company’s offices at Sandakerveien 130, 0484
Oslo, Norway.

Please find attached the notice to the EGM which contains the full proposed
resolutions and information on attendance. The notice is also available on the
Company's website, https://www.lytixbiopharma.com/.

Additional details on the Subsequent Offering

The board proposes that the EGM resolves a Subsequent Offering with gross
proceeds of up to NOK 30 million, equivalent to 3,333,333 new shares, at NOK
9.00 per share directed to existing shareholders in the Company as of 8 January
2026 (as registered in the VPS two trading days thereafter) who (i) were not
included in the pre sounding phase of the Private Placement, (ii) were not
allocated Offer Shares in the Private Placement, and (iii) are not resident in a
jurisdiction where such an offering would be unlawful or would, in jurisdictions
other than Norway, require any prospectus, filing, registration or similar
action (jointly, the "Eligible Shareholders"). Eligible Shareholders are
expected to receive non transferable subscription rights, and oversubscription
will be permitted.

The Company will, in connection with the Subsequent Offering, publish a national
prospectus (the "Prospectus") prepared in accordance with the rules of Chapter 7
of the Norwegian Securities Trading Act. The Prospectus will be registered prior
to commencement of the subscription period. The board proposes that the
subscription period shall commence on 27 January 2026 and expire on 10 February
2026 at 16:30 (CET).

Please refer to the notice for the full details on the board's proposal for the
Subsequent Offering.

Proposal to convert the Company to a public limited company, including updated
articles of association

The board proposes that the EGM resolves to convert the Company from a Norwegian
private limited liability company (aksjeselskap) to a Norwegian public limited
liability company (allmennaksjeskap). This will also involve changing the
registered company name from "Lytix Biopharma AS" to "Lytix Biopharma ASA". The
EGM will consider the necessary amendments to the articles of association.
Please refer to the notice for the full details.

Proposal to elect an additional board member

The Nomination and Compensation Committee proposes that the EGM elects Darlene
Deptula Hicks as an additional member of the board. Please refer to the notice
for the full details.

Proposal for board authorisation

The board proposes that the EGM resolves to grant the board an authorization to
increase the share capital with up to NOK 1,501,764. Please refer to the notice
for the full details.

Disclosure regulation:

This information is subject to a duty of disclosure pursuant to the Company's
continuing obligations as a company listed on Euronext Growth.

For more information, please contact:
Gjest Breistein, CFO
+47 952 60 512
gjest.breistein@lytixbiopharma.com

About Lytix Biopharma
Based in Oslo, Norway, Lytix Biopharma is a clinical-stage biotech company with
a highly novel technology based on world leading research in host-defense
peptide-derived molecules. Lytix Biopharma’s lead product, LTX-315, is a
first-in-class oncolytic molecule representing a new principle to boost
anti-cancer immunity. Lytix Biopharma has a pipeline of molecules that can work
in many different cancer indications and treatment settings, both as mono- and
combination therapy.

Important information:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A under
the Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The "Prospectus Regulation"
means Regulation (EU) 2017/1129, as amended (together with any applicable
implementing measures) in any Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investments activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

The issue, subscription or purchase of shares or other financial instruments in
the Company is subject to specific legal or regulatory restrictions in certain
jurisdictions. Neither the Company nor the Manager (DNB Carnegie) assume any
responsibility in the event there is a violation by any person of such
restrictions. The distribution of this release may in certain jurisdictions be
restricted by law. Persons into whose possession this release comes should
inform themselves about and observe any such restrictions. Any failure to comply
with these restrictions may constitute a violation of the securities laws of any
such jurisdiction.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. Any forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Such assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict. Such risks, uncertainties, contingencies
and other important factors could cause actual events to differ materially from
the expectations expressed or implied in this release by such forward-looking
statements. Neither the Company nor the Manager make any guarantee that the
assumptions underlying any forward-looking statements in this announcement are
free from errors nor does it accept any responsibility for the future accuracy
of the opinions expressed in this announcement or any obligation to update or
revise the statements in this announcement to reflect subsequent events. You
should not place undue reliance on any forward-looking statements in this
announcement. The information, opinions and forward-looking statements contained
in this announcement speak only as at its date, and are subject to change
without notice. Neither the Company nor the Manager undertake any obligation to
review, update, confirm, or to release publicly any revisions to any
forward-looking statements to reflect events that occur or circumstances that
arise in relation to the content of this announcement.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. The distribution of
this announcement and other information may be restricted by law in certain
jurisdictions. Persons into whose possession this announcement or such other
information should come are required to inform themselves about and to observe
any such restrictions. This announcement is an advertisement and is not a
prospectus for the purposes of the Prospectus Regulation as implemented in any
Member State.

More information:
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663462_Lytix - EGM notice inc appendices 26.01.2026 Final.pdf