Nykode Therapeutics - Grant of Share Options

Oslo, Norway, July 9, 2025 - Nykode Therapeutics ASA (OSE: NYKD), aclinical-stage biopharmaceutical company dedicated to the discovery anddevelopment of novel immunotherapies, today announced that a total of12,795,000share options have been granted to employees of Nykode Therapeutics ASA underthe company's share option scheme, of which 8,250,000 share options have beengranted to primary insiders. The share options will have a strike price of NOK7.00 per share, have a five-year term and will vest equally over a four-yearvesting period.

Concurrently with the grant, a total of 7,376,973 previously granted shareoptions, of which 6,075,906 relate to primary insiders, will be cancelled. Thecancelled share options represent substantially all outstanding options inNykode Therapeutics ASA prior to the new grant.

Please see further details in attached document.

https://newsweb.oslobors.no/message/650976