Resolution to issue shares as a consequence of option exercise

In connection with an exercise of employee share options, the board of directors of Vaccibody AS (the "Company"), has resolved to increase the Company's share capital by NOK 660, through the issuance of 66,000 new shares.

Following registration of the share capital increase with the Norwegian Register of Business Enterprises, the Company's share capital will be NOK 2,870,777.09, divided into 287,077,709 shares, each with a par value of NOK 0.01.