Exercise of employee share options

Kjetil Hestdal, President and CEO of Photocure, has today, December 23th 2014, exercised 37 500 share options in Photocure ASA, at the strike price of NOK 18.30.

After the transaction, Kjetil Hestdal holds 103 873 shares in Photocure ASA.

After exercising options, Kjetil Hestdal holds a total of 126 000 unexercised options in the Company, corresponding to 50 000 unexercised options at the strike price of NOK 42.00; 30 000 unexercised options at the strike price of NOK 48.75; 21 000 unexercised options at the strike price of NOK 38.50; and 25 000 unexercised options at the strike price of NOK 27.39.

After transferring 37 500 treasury shares at a share price of NOK 18.30, Photocure ASA holds 35 476 shares in Photocure ASA