ZLNA - Issuance of shares through set-off of option exercise fee

Oslo, 24 May 2025: Zelluna ASA (the "Company") refers to the resolution by the Company's Annual General Meeting held on 29 April 2025 to grant the Company's Board of Directors an authorisation to issue new shares, each with a subscription price of NOK 26, to settle an amount of EUR 500,000 of an already triggered option exercise fee towards Inven2. The Company's Board of Directors has today resolved to issue 227,096 new shares in the Company to Inven2 against set-off of such amount of EUR 500,000.

After the share capital increase related to the issuance of the new shares has been registered with the Norwegian Register of Business Enterprises, the Company will have a share capital of NOK 20,454,162, divided into 20,454,162 shares, each with a par value of NOK 1.

For further information, please contact:

Hans Vassgård Eid, CFO, Zelluna ASA

Email: [email protected]

Phone: +47 482 48632

About Zelluna ASA

Zelluna's mission is to deliver transformative treatments with the capacity to cure advanced solid cancers, in a safe and cost-efficient manner, to patients on a global scale. The Company aims to do this by combining the most powerful elements of the immune system through pioneering the development of "off the shelf” T cell receptor (TCR) guided natural killer (NK) cell therapies (TCR-NK). The TCR-NK platform offers a unique mechanism of action with broad cancer detection capability to overcome the diversity of tumours and will be used "off the shelf” to overcome scaling limitations of current cell therapies. The lead program is a world's first MAGE-A4 targeting "off the shelf” TCR-NK for the treatment of various solid cancers; a pipeline of earlier products follows. The Company is led by a management team of biotech entrepreneurs with deep experience in discovery through to clinical development of TCR and cell-based therapies including marketed products.