Issuance of new shares to primary insider – in accordance with share purchase agreement prev. announced

Bergen, Norway 20 April 2022

Islay Venture GmbH ("Islay), a company closely related to Lifecare's ChiefScientific Officer and primary insider Prof. Dr. Dr. med Andreas Pfützner, willsubscribe 1.756.876 new shares in Lifecare AS, as part of the previously agreedconsideration from Lifecare AS to acquire Lifecare Laboratories GmbH (formelynamed Pfützner Science and Health GmbH). The acquisition and considerations werepreviously announced in Newsweb 27 August 2021.

Lifecare AS will issue shares in Lifecare AS equivalent to a value of EUR300.000 EUR converted into NOK 2.856.840,- at an exchange rate of NOK 9,5228.The amount will convert into 1.756.876 Lifecare AS new shares at a calculatedVWAP-based share price of NOK 1,626091. The share price is based on VWAP 5consecutive trading days prior to the share purchase agreement's notarisedsignature date: 27 January 2022.

Islay currently holds 843.623 shares in Lifecare AS. After the issuance of newshares, Islay will hold a total of 2.600.499 shares in Lifecare AS.

The new shares will be issued based on board authorization granted by theExtraordinary General Meeting of Lifecare 10 September 2021 as registered in thecompany register 8 November 2021. The share issue is expected to be completed by30 April 2022.

On this base the Lifecare board of directors has resolved to issue in total1.756.876 new shares for an aggregated subscription price of NOK 2.856.840.Following the issuance of the new shares, the Company will have 99.741.023shares outstanding, each with a nominal value of NOK 0.40. Total share capitalof the Company will be NOK 39.896.409,20-. The Company's Articles ofAssociations will be updated accordingly.

Further informationJoacim Holter, CEO, Lifecare AS,, +47 40 05 90 40

This information is considered to be inside information pursuant to the EUMarket Abuse Regulation and is subject to the disclosure requirements pursuantto Section 5-12 the Norwegian Securities Trading Act. This stock exchangeannouncement was published by Kine Hereid, Investor Relations at Lifecare AS, on20 April 2022 at 20:10 CET.