The subscription period in aXichem’s rights issue ends on March 25

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, EITHER DIRECTLY OR INDIRECTLY, WITHIN OR INTO THE UNITED STATES, AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE ADDITIONAL MEASURES THAN SUCH MEASURES STIPULATED BY SWEDISH LAW. PLEASE SEE “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.

Monday, March 25, 2024 is the last day for subscription in aXichem AB (publ):'s ("aXichem" or the "Company") rights issue of shares and warrants ("Units") that was announced on February 1, 2024 (the "Rights Issue"). The last day for subscription of Units via Avanza and Nordnet is Sunday, March 24, 2024.

Summary of the Rights Issue

• One (1) existing share gives one (1) unit right. Four (4) unit rights give the right to subscribe for one (1) Unit in the Company.
• The Rights Issue consists of maximum 5,374,081 Units. Each Unit consists of five (5) shares of class A and five (5) warrants of series TO1A.
• The subscription price per Unit amounts to SEK 7.50, corresponding to SEK 1.50 per A share. The warrants are issued free of charge.
• The Rights Issue is covered by subscription and guarantee commitments amounting to approximately SEK 28.2 million, corresponding to 70 percent of the rights issue.

Notification of subscription can be submitted directly to the issuing agent Nordic Issuing (https://nordic-issuing.se/aktuella-uppdrag/axichem-ab/) or via the investor's own bank. However, some banks may have closed the possibility to participate in the Rights Issue at an earlier time. The last day for subscription of Units via Avanza and Nordnet is Sunday, March 24, 2024.

The full terms and conditions for the Rights Issue can be found in the prospectus published on March 8, 2024, which is available on the Company's, Nordic Issuing AB's and Västra Hamnen Corporate Finance AB's respective websites (www.axichem.com, www.nordic-issuing. see, www.vhcorp.se). The prospectus is also available on the Financial Supervisory Authority’s website (www.fi.se).

Financial advisers, legal advisers and issuing agent

Västra Hamnen Corporate Finance AB is financial advisor and Advokatfirman Vinge is legal advisor to aXichem in connection with the Rights Issue. Nordic Issuing acts as issuing agent.

For more information:

Torsten Helsing,

CEO, aXichem AB, phone: +46 706 863 355

Email: torsten.helsing@axichem.com

or visit: www.axichem.com

Certified adviser for aXichem is Västra Hamnen Corporate Finance AB.

The information was submitted, through the agency of the above contact person, for publication on March 22, 2024, at 08:30 CET.

About aXichem

aXichem develops, patents and markets natural analogue industrial chemicals, i.e., synthetically produced substances that have similar and comparable properties to natural substances. The company's first product is phenylcapsaicin, which the company commercializes under two brands, aXiphen® and aXivite®, as an ingredient in animal feed and dietary supplements, respectively. The business is divided into three market areas with different applications for phenylcapsaicin: as an ingredient in feed for poultry, such as chicken and turkey, as an ingredient in food supplements for gut health, weight control and sports and exercise, and as an ingredient in food supplements for the bio-enhancement of curcumin and melatonin. aXichem is listed on the Nasdaq First North Growth Market. More information is available at www.axichem.com.

Important information

Release, publication, or distribution of this press release may be subject to restrictions in certain jurisdictions. Recipients of this press release in the jurisdictions where this press release has been released, published, or distributed should inform themselves of and comply with such restrictions.

This press release does not constitute an offer to, or an invitation to, acquire or subscribe for any securities in aXichem in any jurisdiction. The invitation to interested persons to participate in the Rights Issue will only take place through the Prospectus that the Company has published in connection with the Rights Issue.

This press release does not constitute an offer or invitation to acquire or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States without registration, or without application of an exemption from registration, under the U.S. Securities Act of 1933. The information in this press release may not be disclosed, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or to the United States, Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, South Africa, South Korea, or any other jurisdiction where such disclosure, publication or distribution of this information would be contrary to applicable laws and regulations.

Within the European Economic Area, no offer to the public of securities is made in any country other than Sweden. In other member states of the European Union, such an offer can only be made in accordance with exceptions in the Prospectus Regulation (EU) 2017/1129.

This press release contains certain forward-looking information that reflects the Company's current view of future events as well as financial and operational development. Words such as "intends", "estimates", "expects", "may", "plans", "believes", "estimates" and other expressions that imply indications or predictions of future developments or trends, and are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking information is not a guarantee of future performance or development, and actual outcomes may differ materially from what is stated in forward-looking information.