Zelluna ASA: Issuance of shares to Inven2 through set-off of settlement amounts under option and license agreement

Oslo, 4 August 2026: Reference is made to the resolution by the Annual General Meeting of Zelluna ASA (the "Company") held on 23 April 2026, authorising the Company's Board of Directors to increase the share capital by up to NOK 800,000 to settle amounts owed to Inven2 AS ("Inven2") under an option and license agreement with the Company's wholly owned subsidiary Zelluna Immunotherapy AS, upon dosing of the first patient in the first clinical trial for a licensed product. Reference is further made to the Company's stock exchange announcement made on 13 July 2026, confirming that such dosing has now taken place.

On this basis, the Company's Board of Directors has today resolved to increase the Company's share capital by NOK 446,752, from NOK 29,413,759 to NOK 29,860,511, through the issuance of 446,752 new shares to Inven2 at a subscription price of NOK 19.7752 per share, each with a nominal value of NOK 1.00. The share contribution will be settled by set-off against the aggregate amount of EUR 791,666.70/NOK 8,834,604.54 owed to Inven2 under the option and license agreement.

Following registration of the share capital increase with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret), the Company's share capital will be NOK 29,860,511, divided into 29,860,511 shares, each with a nominal value of NOK 1.00.

For further information, please visit www.zelluna.com or contact:

Namir Hassan, CEO
Email: namir.hassan@zelluna.com
Phone: +44 7720 687608

Geir Christian Melen, CFO
Email: geir.christian.melen@zelluna.com
Phone: +47 913 02 965

This information is published in accordance with the disclosure requirements set out in the Norwegian Securities Trading Act section 5-12.

About Zelluna ASA
Zelluna ASA (OSE: ZLNA) is a Company pioneering allogeneic ‘off-the-shelf’ T Cell Receptor-based Natural Killer (TCR-NK) cell therapies for the treatment of solid cancers. The company’s platform combines the innate killing power of NK cells with precise solid tumour targeting of TCRs, designed to address the limitations of current cell therapies in solid tumours. The company’s lead candidate, ZI-MA4-1, is the world’s first MAGE-A4 targeting TCR-NK therapy in clinical development. Zelluna is headquartered at the Oslo Cancer Cluster Innovation Park in Oslo, Norway and is listed on the Euronext Oslo Stock Exchange under the ticker ZLNA.