Navamedic ASA: New share option program

On the basis of the approval by the Annual General Meeting of May 28 2019, to authorize the Board to issue 350 000 new shares to members of the senior management under a long- term incentive program, the Board has resolved to issue options in two Series (A and B) to members of the senior management of the Company.

A total of 275 000 Series A options for shares of the Company were distributed amongst members of the senior management. Each option, when exercised, will give the right to acquire one share in the Company. The options are granted without consideration. Pursuant to the vesting schedule, 1/3 of the options will vest every 12 months after the day of grant (as long as the option holder is still employed). However, all of the options shall be regarded as vested in the event that the value of the shares in the Company, on a volume-weighted basis, has been traded on the stock exchange or another regulated marketplace at a price equal to minimum NOK 24 for ten consecutive trading days.

The exercise price is NOK 12 per share. Options that have not been exercised will lapse 3,5 years after grant date. Shares received from exercised options are subject to a lock-up period of 12 months. The lock-up obligation shall not prevent the option holder from selling an amount of the option shares necessary to finance the exercise price, as well as the tax payable as a consequence of the exercise of options.

A total of 125 000 options Series B options for shares of the Company were distributed to the Company Chief Executive Officer. Each option, when exercised, will give the right to acquire one share in the Company. The options are granted without consideration. Pursuant to the vesting schedule, 100% of the options vests on the day of grant.

The exercise price is NOK 12 per share. Options that have not been exercised will lapse 31th March 2020. Shares received from exercised options are subject to a lock-up period of 24 months. The lock-up obligation shall not prevent the option holder from selling an amount of the option shares necessary to finance the exercise price, as well as the tax payable as a consequence of the exercise of options.

Primary insiders in Navamedic ASA have received the following new options grants, according to the terms described above:

Chief Executive Officer, Kathrine Gamborg Andreassen has been granted 125 000 series A options and 125 000 series B options. Following the grant, she holds a total of 416.668 shares and 250.000 options in the Company.

Chief Operating Officer and Business Development, Ole Henrik Eriksen has been granted 75.000 share options. Following the grant, he holds a total of 416.666 shares and 75 000 options in the Company.

Vice President of R&D, Astrid T. Bratvedt has been granted 75.000 share options. Following the grant, she holds a total of 418.666 shares and 75 000 options in the Company.

For more information please contact:

Toril Ås

Chief Financial Officer

Navamedic ASA,

Mobile: +47 957 01 071

Email: toril.as@navamedic.com