Oslo, Norway, 26 March, 2025

Reference is made to the stock exchange notice published by Zelluna ASA (the "Company") published on 26 March 2025 regarding the resolution by the Company's board of directors to carry out a share capital increase of NOK 0.70 through the issuance of seven (7) new shares in the Company in order to achieve a desirable ratio for the reverse share split.

The Company has received the following notification of a transaction made by a close associate of a primary insider:

  • Radforsk Investeringsstiftelse, a close associate of chair of the board of directors and primary insider of the Company, Anders Tuv, has today subscribed for seven (7) new shares in the Company at a subscription price of NOK 2.60 (equal to the price per share in the recently completed business combination and private placement). Following this transaction, Radforsk Investeringsstiftelse hold 24,714,221 shares in Zelluna ASA.

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The notification concerning the above subscription is attached hereto.

For further information, please contact:

Hans Vassgård Eid, CFO, Zelluna ASA

Email: hans.eid@zelluna.com

Phone: +47 482 48632

About Zelluna ASA

Zelluna's mission is to deliver transformative treatments with the capacity to cure advanced solid cancers, in a safe and cost-efficient manner, to patients on a global scale. The Company aims to do this by combining the most powerful elements of the immune system through pioneering the development of "off the shelf” T cell receptor (TCR) guided natural killer (NK) cell therapies (TCR-NK). The TCR-NK platform offers a unique mechanism of action with broad cancer detection capability to overcome the diversity of tumours and will be used "off the shelf” to overcome scaling limitations of current cell therapies. The lead program is a world's first MAGE-A4 targeting "off the shelf” TCR-NK for the treatment of various solid cancers; a pipeline of earlier products follows. The Company is led by a management team of biotech entrepreneurs with deep experience in discovery through to clinical development of TCR and cell-based therapies including marketed products.

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