LIFE: Exercise of options and lock up agreement with primary insider

Bergen, Norway 14.09.21

Lifecare's Chief Scientific Officer and primary insider Prof. Dr. Dr. med
Andreas Pfützner, has notified Lifecare AS that his company Islay Venture GmbH
("Islay) will exercise share options of 195,498. The exercised share options
have each a strike price of NOK 0.40 and were set to expire on 1 October 2021.
Islay currently holds 648,125 shares in Lifecare AS. After the exercise of the
options, Islay will hold a total of 843,623 shares and has confirmed a 6-month
lock-up agreement for the complete holding of 843,623 shares. 

Also, Nexus Marketing NUF, ("Nexus") will be allotted 1,042,645 shares in
accordance with share options as part of agreement connected to management for
hire, confirmed in 2020, in exchange for paying NOK 0.40 per share, a total of
NOK 417,058. Nexus currently holds 689,379 shares in Lifecare AS. After the
exercise of the options, Nexus will hold a total of 1,732,024 shares.

The new shares will be issued based on board authorization granted by the
Extraordinary General Meeting of Lifecare 30 July 2020 as registered in the
company register 9 October 2020. The share issue is expected to be completed by
16 September 2021. 

On this base the Lifecare board of directors has resolved to issue in total
1,238,143 new shares for an aggregated subscription price of NOK 495.257.20,
corresponding to a strike price of NOK 0.40 per share. Following the issuance of
the new shares, the Company will have 82,516,313 shares outstanding, each with a
nominal value of NOK 0.40. Total share capital of the Company will be NOK
33,006,525.20. The Company's Articles of Associations will be updated
accordingly.   

In addition, Islay Ventures GmbH holds 3,524,927 share options at a strike price
of NOK 1.70 subject to terms and conditions in accordance with share option
award agreement. Nexus Marketing NUF holds 1,385,105 share options at a strike
price of NOK 1.70 subject to terms and conditions in accordance with share
option award agreement. Both share option award agreements expire on 1 April
2022. The participants in the option award program will be eligible for the
program based on the discretionary evaluation of the Board at any time within
the time frame of the program (ends 01.04.22) of each participants contribution
to the success and profitability of the Company. The aim of the program is to
ensure the company's continued success and motivate employees and key personnel
to excellence.

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

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and 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
14.09.2021 at 15:50 CET.