UPDATE ON STRATEGIC REVIEW

Oslo, Norway (26 June 2020) – Reference is made to the stock exchange notice issued on 26 June 2020 from Kappa Bioscience AS ("Kappa").

As communicated in the stock exchange notice dated 2 June 2020, NattoPharma ASA (“NattoPharma” or the “Company”) has engaged ABG Sundal Collier ASA to conduct a strategic review of the Company. The Board of NattoPharma remain of the firm view that the now withdrawn offer from Kappa did substantially undervalue the Company’s leading market position and continued growth prospects.

The strategic review is ongoing, considering various alternatives to maximize shareholder value. NattoPharma will provide further updates to its shareholders in due course.

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For more information, please contact:

Robert Schrama, CFO

E-mail: robert.schrama@nattopharma.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities