LIFE: Lifecare Group incentive program established

Bergen, 23 May 2022

On 6 May 2022, the Lifecare Annual General Meeting (AGM) passed a resolution
authorizing the Board of Directors to establish an incentive program for
employees and consultants in the Lifecare Group. The AGM resolution included an
authorization for the Board to increase the share capital by up to 5% of the
existing registered share capital for use in an incentive program. On this base,
Lifecare's Board of Directors has decided to establish an incentive program
including option grants to the company's executive management and key employees:

- Lifecare CEO, Joacim Holter, has been granted a total of 1.496.115 options
with performance-based vesting terms. 
- Lifecare CSO, Prof. Andreas Pfützner, has been granted a total of 748.058
options with performance-based vesting terms. 
- Other key personnel in the Lifecare Group have each been granted 25.000
options that can be vested at the earliest 3 years from the date of grant. 


In addition, the Board of Directors has mandated the CEO to grant up to 20.000
options per employee in the Lifecare Group to defined key personnel based on
performance target vesting terms. Furthermore, all employees in the Lifecare
Group will be invited to participate in a Share Purchase Program with a 25%
discount per share and financing based on a payroll deduction over 12 months,
for up to 20.000 shares per employee. 

All options will be valid for 5 years from the date of grant. Price per share
under the incentive program is defined to be based on the volume-weighted
average price of the ordinary shares on the principal market for a period of 10
consecutive trading days prior to the date of grant. Assuming 100% participation
in the Share Purchase Program, 100% allocation and achievement of option
performance targets, as well as the said time factor of three years for the
group of key personnel, the execution of the implemented incentive program will
have a total scope of 2.604.173 shares, i.e. slightly above 2,5% of the existing
registered share capital of Lifecare AS.            

This is Lifecare 
Lifecare is a Bergen-based technology company developing a miniaturized
implantable long-term sensor for correct and continuous monitoring of blood
sugar in people with diabetes. The Company's patented technology also has the
potential for use in various biomarkers. Lifecare AS is listed on Euronext
Growth (LIFE).

Further information: Joacim Holter, CEO, Lifecare AS, joacim.holter@lifecare.no,
+47 40 05 90 40 

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act. This stock exchange announcement was
published by Kine Hereid, Investor Relations at Lifecare AS, on 23 May 2022 at
21:00 CET.