Zelluna ASA - Mandatory notification of trade - Subscription and share lending in Private Placement

Oslo, 18 June 2027: Reference is made to the stock exchange announcement published by Zelluna ASA (the "Company") on 17 June 2026 regarding completion of a placement of 3 143 958 new shares at a subscription price of NOK 18.50 (the "Subscription Price") per new share (the "Private Placement"). Radforsk Investeringsstiftelse, a foundation closely associated with Anders Tuv (Chairman of the Board of the Company), has been allocated 162 162 shares in the Private Placement at the Subscription Price. In addition, and to facilitate delivery-versus-payment ("DVP") settlement of shares allocated to investors in the Private Placement, Radforsk Investeringsstiftelse has, pursuant to a share lending agreement, agreed to lend out 2 469 693 existing and unencumbered shares in the Company to ABG Sundal Collier ASA, acting as manager in the Private Placement (the "Manager"). Gjelsten Holding AS has been allocated 162 162 shares in the Private Placement at the Subscription Price. In addition, and to facilitate delivery-versus- payment ("DVP") settlement of shares allocated to investors in the Private Placement, Gjelsten Holding AS has, pursuant to a share lending agreement, agreed to lend out 674 265 existing and unencumbered shares in the Company to the Manager. The share loans will be settled by re-delivery from the Manager of new shares in the Company to the share lenders following registration of the share capital increase pertaining to the Private Placement with the Norwegian Register of Business Enterprises. As a result of the subscription for new shares and lending out of shares, Radforsk Investeringsstiftelse will hold a total of 162 162 shares in the Company, equal to 0.55% of the shares and votes in the Company, thereby passing the 5% substantial shareholding disclosure threshold. Following settlement of the share loan, Radforsk Investeringsstiftelse's holding will be 2 631 855 shares, equal to 8.95% % of the shares and votes in the Company, thereby passing the 5% substantial shareholding disclosure threshold. See the attached PDMR form for further information. As a result of the subscription for new shares and lending out of shares, Gjelsten Holding AS will hold a total of 1 002 869 shares in the Company, equal to 3.14% of the shares and votes in the Company, thereby passing the 5% substantial shareholding disclosure threshold. Following settlement of the share loan, Gjelsten Holding AS' holding will be 1 677 134 shares, equal to 5.70% % of the shares and votes in the Company, thereby passing the 5% substantial shareholding disclosure threshold. The above calculations of holdings following the Private Placement and share lending are based on a total of 29 413 759 outstanding shares in the Company following completion of the Private Placement. This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 4-2 of the Norwegian Securities Trading Act.