Lifecare Employee Share Purchase Program – Subscriptions by Primary Insiders – Increase of share capital

Bergen, Norway 15.7.22

Reference is made to Stock Exchange Announcement 23 May 2022 regarding theestablishment of Lifecare Group incentive program.

All employees in the Lifecare Group have been invited to participate inLifecares Employee Share Purchase Program 2022 and individually subscribe for upto 20 000 shares with a 25% discount off the volume weighted average share price(VWAP) calculated 10 days prior to end of the subscription period (30 June2022).

9 employees in the Lifecare Group have accepted to participate and subscribedfor in total 124 719 shares, of which the primary insiders Joacim Holter(Lifecare CEO) and Prof. Andreas Pfützner (Lifecare CSO) both have subscribedfor the maximum offering of 20 000 shares.

The price per share under Lifecares Employee Share Purchase Program 2022 hasbeen calculated to NOK 3,22962, taking the VWAP and discount into consideration.All shares under the Lifecare Employee Share Purchase Program 2022 have a lockup period of 12 months.

Based on board authorization granted by the General Meeting of Lifecare 6 May2022, Lifecares' Board of Directors passed a resolution to issue 124 719 sharesfor an aggregated subscription price of NOK 402 794,98, corresponding to a priceper share of NOK 3,22962.

Following the issuance of the new shares, the Company will have 99 865 742shares outstanding, each with a nominal value of NOK 0,40. The total sharecapital of the Company will be NOK 39 946 296,20. The Company's Articles ofAssociations will be updated accordingly.

The share issuance is expected to be completed by 15. August 2021.

Further informationJoacim 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 Joacim Holter, CEO at Lifecare AS, on 15.7.2022 at 13:35 CET.