LIFE: Lifecare Group incentive program established

Bergen, 23 May 2022

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

- Lifecare CEO, Joacim Holter, has been granted a total of 1.496.115 optionswith performance-based vesting terms. - Lifecare CSO, Prof. Andreas Pfützner, has been granted a total of 748.058options with performance-based vesting terms. - Other key personnel in the Lifecare Group have each been granted 25.000options 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 20.000options per employee in the Lifecare Group to defined key personnel based onperformance target vesting terms. Furthermore, all employees in the LifecareGroup 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 shareunder the incentive program is defined to be based on the volume-weightedaverage price of the ordinary shares on the principal market for a period of 10consecutive trading days prior to the date of grant. Assuming 100% participationin the Share Purchase Program, 100% allocation and achievement of optionperformance targets, as well as the said time factor of three years for thegroup of key personnel, the execution of the implemented incentive program willhave a total scope of 2.604.173 shares, i.e. slightly above 2,5% of the existingregistered share capital of Lifecare AS.

This is Lifecare Lifecare is a Bergen-based technology company developing a miniaturizedimplantable long-term sensor for correct and continuous monitoring of bloodsugar in people with diabetes. The Company's patented technology also has thepotential for use in various biomarkers. Lifecare AS is listed on EuronextGrowth (LIFE).

Further information: Joacim Holter, CEO, Lifecare AS,,+47 40 05 90 40

This information is subject to the disclosure requirements pursuant to Section5-12 the Norwegian Securities Trading Act. This stock exchange announcement waspublished by Kine Hereid, Investor Relations at Lifecare AS, on 23 May 2022 at21:00 CET.