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Grant of warrants

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December 31, 2021
Announcement no. 24

Grant of warrants

Today, the Board of Directors of BioPorto A/S (“BioPorto”) (Nasdaq: BIOPOR) has exercised its current authorization by issuing 12,600,000 warrants to key employees and executive management of BioPorto.

The warrants are issued in accordance with the company’s remuneration policy and the authorization in section 17 a of the Articles of Association.

Each warrant grants the holder the right to subscribe for one share in BioPorto. The exercise price is DKK 2.47 per share (corresponding the closing price on December 30 2021 on Nasdaq Copenhagen). The warrants generally vest over a four-year period. The warrants include conditions on claw-back in case of e.g. erroneous financial information and provisions on accelerated vesting in case of e.g. a takeover bid and/or business combinations, and with regard to a total of 1,700,000 warrants, upon U.S Food & Drug Administration approval of The NGAL Test for pediatric use.

After this grant of warrants the total number of outstanding warrants is 21,050,000, as shown in the table below:

Number of warrants:

Specified as follows:

Warrant

Corporate

Prev.

Other

programs

Granted

Cancelled

Exercised

Outstanding

management

management

employees

Total

2016

6,368,696

5,196,196

1,172,500

0

0

0

0

0

Jun. 2018

900,000

900,000

0

0

0

0

0

0

Aug. 2018

4,100,000

2,000,000

0

2,100,000

0

1,700,000

400,000

2,100,000

Dec. 2018

2,500,000

700,000

0

1,800,000

0

1,800,000

0

1,800,000

Apr. 2019

5,100,000

3,750,000

0

1,350,000

0

1,350,000

0

1,350,000

Aug. 2019

1,500,000

250,000

0

1,250,000

1,000,000

0

250,000

1,250,000

Dec. 2019

250,000

0

0

250,000

0

0

250,000

250,000

May 2020

2,150,000

800,000

0

1,350,000

1,000,000

0

350,000

1,350,000

Feb. 2021

350,000

0

0

350,000

0

0

350,000

350,000

Dec. 2021

12,600,000

0

0

12,600,000

9,600,000

0

3,000,000

12,600,000

Total

35,818,696

13,596,196

1,172,500

21,050,000

11,600,000

4,850,000

4,600,000

21,050,000

Detailed terms of the new and existing warrants, including applicable vesting schedules, can be found in the Articles of Association on www.bioporto.com under Investor Relations> Governance> Company Articles.

The total number of shares granted and which the warrant holders will be able to subscribe upon exercise of the warrants, is 12,600,000. The theoretical market value of the allocations of warrants amounts to DKK 13 million. The calculation is based on the Black-Scholes formula using an interest rate of -0.58% and the historical volatility of BioPorto A/S' shares of 27 months calculated to 72.12%.

For further information, please contact:

Tim Eriksen, Investor Relations, e-mail: tee@bioporto.com

About BioPorto

BioPorto is an in vitro diagnostics company that provides tests and antibodies to clinicians and researchers around the world. We use our antibody and assay expertise to transform novel research tools into clinically actionable biomarkers that can make a difference in patients’ lives. BioPorto is headquartered in Hellerup, Denmark and is listed on the NASDAQ Copenhagen stock exchange [CPH:BIOPOR].

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