Lytix Biopharma AS - Cancellation of Subsequent Offering

Oslo, Norway, 7 January 2025: Reference is made to the stock exchange announcement published by Lytix Biopharma AS ("Lytix" or the "Company") on 17 December 2024 regarding the successful completion of a private placement (the "Private Placement") of new shares raising NOK 100 million in gross proceeds, and a retail offering (the "PrimaryBid Offering") of new shares raising NOK 11.3 million in gross proceeds via the PrimaryBid platform. In the announcement the Company also expressed that it would consider carrying out a subsequent share offering towards existing shareholders in the Company of up to 1,666,666 new shares at the same subscription price as in the Private Placement and the PrimaryBid Offering, depending, inter alia, on the prevailing market price of the Company's shares.

Since completion of the Private Placement and the PrimaryBid Offering the Company’s shares have traded around and below the subscription price in the Private Placement and the PrimaryBid Offering and the total traded volume at these price levels has corresponded to a larger volume than the size of the potential subsequent offering. As a result, existing shareholders who did not participate in the Private Placement or the PrimaryBid Offering have had ample opportunity to mitigate the dilutive effect of the Private Placement and the PrimaryBid Offering at trading prices around or equal to the subscription price in the potential subsequent offering. The board of directors has therefore decided not to proceed with the subsequent offering.

Disclosure regulation:

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Gjest Breistein on 7 January 2025 at the time set out in this notice on behalf of the Company.

For more information, please contact:

Gjest Breistein, CFO

+47 952 60 512

gjest.breistein@lytixbiopharma.com

Lytix in brief:

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.