Company Announcements

Reference is made to the stock exchange announcement made by Zelluna ASA (the "Company") on 3 November 2025 regarding the allocation of 5,500,000 new shares in the Company in a private placement (the "Private Placement"), the allocation of 315,639 new shares in a retail offering via the PrimaryBid platform (the "PrimaryBid Offering"), and a potential subsequent repair offering of up to 800,000 new shares at the same subscription price as in the Private Placement and the PrimaryBid Offering (the "Subsequent Offering"). The Subsequent Offering will, subject to applicable securities law, be directed towards existing shareholders in the Company as of 3 November 2025, as registered in the Company's register of shareholders with Euronext Securities Oslo on 5 November 2025, who (i) were not included in the pre-sounding phase of the Private Placement; (ii) were not allocated shares in the Private Placement, and (iii) are not resident in a jurisdiction where such offering would be unlawful or, would (in jurisdictions other than Norway) require a prospectus, filing registration or similar action.

The following key information is provided with respect to the Subsequent Offering:

Date on which the terms and conditions of the Subsequent Offering were announced: 3 November 2025

Last day including right: 3 November 2025

Ex-date: 4 November 2025

Record date: 5 November 2025

Date of approval: On or about 25 November 2025 (date of extraordinary general meeting)

Maximum number of new shares: 800,000

Subscription price: NOK 10 per share

Shall the rights be listed: No

Other information: The Subsequent Offering is subject to, inter alia, completion of the Private Placement, approval by the board of directors and an extraordinary general meeting of the Company, and the publication of a prospectus. Whether or not the Subsequent Offering will ultimately take place, will depend inter alia on the development of the price of the shares in the Company after completion of the Private Placement, and the Company reserves the right in its sole discretion to not conduct or to cancel the Subsequent Offering.

This information is published in accordance with the requirements of the Continuing Obligations for Euronext Oslo Børs.