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. medAndreas Pfützner, has notified Lifecare AS that his company Islay Venture GmbH("Islay) will exercise share options of 195,498. The exercised share optionshave 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 theoptions, Islay will hold a total of 843,623 shares and has confirmed a 6-monthlock-up agreement for the complete holding of 843,623 shares.

Also, Nexus Marketing NUF, ("Nexus") will be allotted 1,042,645 shares inaccordance with share options as part of agreement connected to management forhire, confirmed in 2020, in exchange for paying NOK 0.40 per share, a total ofNOK 417,058. Nexus currently holds 689,379 shares in Lifecare AS. After theexercise 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 theExtraordinary General Meeting of Lifecare 30 July 2020 as registered in thecompany register 9 October 2020. The share issue is expected to be completed by16 September 2021.

On this base the Lifecare board of directors has resolved to issue in total1,238,143 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 ofthe new shares, the Company will have 82,516,313 shares outstanding, each with anominal value of NOK 0.40. Total share capital of the Company will be NOK33,006,525.20. The Company's Articles of Associations will be updatedaccordingly.

In addition, Islay Ventures GmbH holds 3,524,927 share options at a strike priceof NOK 1.70 subject to terms and conditions in accordance with share optionaward agreement. Nexus Marketing NUF holds 1,385,105 share options at a strikeprice of NOK 1.70 subject to terms and conditions in accordance with shareoption award agreement. Both share option award agreements expire on 1 April2022. The participants in the option award program will be eligible for theprogram based on the discretionary evaluation of the Board at any time withinthe time frame of the program (ends 01.04.22) of each participants contributionto the success and profitability of the Company. The aim of the program is toensure the company's continued success and motivate employees and key personnelto excellence.

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, on14.09.2021 at 15:50 CET.