Rights issue
2026

1. Why is Oncopeptides carrying out this rights issue right now, and what will the proceeds be used for?

Answer: We are carrying out this issue to strengthen our financial position and ensure we have the resilience required to reach a positive cash flow in 2027. The net proceeds will primarily be used to finance the ongoing commercialization of Pepaxti in Europe. In addition, a portion of the capital will be used for cost-effective development of our pipeline, specifically to initiate a human “window-of-opportunity” study to evaluate our candidate OPD5 in glioblastoma.

2. What are the conditions for participating in the rights issue, and what is the subscription price?

Answer: The subscription price is set at SEK 1.55 per new ordinary share. Anyone registered as a shareholder on the record date, February 26, 2026, will receive one (1) subscription right for each ordinary share held. Two (2) subscription rights are required to subscribe for one (1) new ordinary share. It is also possible to apply for the subscription of shares without the support of subscription rights.

3. How much will my holding be diluted if I choose not to participate in the issue?

Answer: If the rights issue is fully subscribed, the number of shares will increase by up to 129,283,736. For shareholders who choose not to participate at all, this means a dilution of their ownership stake by a maximum of approximately 33.3 percent. However, you have the opportunity to sell your subscription rights on the stock exchange (Nasdaq Stockholm) between March 2 and March 11, 2026, to fully or partially compensate yourself for the financial dilution effect.

4. Is the issue secured in advance through subscription commitments or guarantees?

Answer: Yes, to a very large extent. The company’s largest shareholder, HealthCap VIII LP, has committed to subscribing for shares worth SEK 20 million (corresponding to almost 10 percent of the issue). In addition, management and certain board members have committed to subscribing for approximately SEK 0.7 million. Furthermore, we have secured guarantee commitments (both bottom and top guarantees) from a number of investors totaling SEK 170 million. Together, the subscription and guarantee commitments cover approximately SEK 190 million of the total issue volume of up to SEK 200 million.

5. What are the most important dates I need to keep track of as a shareholder?

Answer:

• February 26, 2026: Record date (you must be a registered shareholder to receive subscription rights).
• March 2–11, 2026: Trading in subscription rights takes place on Nasdaq Stockholm. If you wish to sell your rights, this must be done no later than March 11; otherwise, they will expire worthless.
• March 2–16, 2026: Subscription period. This is the window to subscribe and pay for new shares.
• Around March 18, 2026: The outcome of the issue is announced.

6. If you successfully conclude a partnership agreement in Japan, how does that affect the need for this rights issue?

Answer: The rights issue is being carried out to secure our baseline plan: to reach a positive cash flow in 2027 organically and take our European business all the way to our goal. We are currently in negotiations regarding the licensing of Pepaxti in Japan, and if we successfully close this and receive licensing payments, we intend to use those additional funds to accelerate the development of our pipeline (primarily OPD5) toward indications such as glioblastoma and hematological diseases, where the potential market values are very large.

7. You mention that a portion of the capital will go to R&D for glioblastoma. How large are the risks and costs you are taking on in this venture?

Answer: Our approach is designed to be highly capital- and cost-efficient. The planned human “window-of-opportunity” study aims to quickly and efficiently generate evidence for further clinical development of our PDC platform in glioblastoma. To keep costs down, we have conducted a strategic review and will, going forward, base our research to a much greater extent on external and academic collaborations instead of maintaining heavy internal fixed costs.

8. Where do I turn for more information?

Answer: For questions regarding participation and the practicalities of the rights issue, please contact your bank. Oncopeptides cannot provide guidance on this, as we do not have insight into how specific banks handle the issue, which can vary. For questions regarding the motives for the issue and the company’s future ambitions, please contact ir@oncopeptides.com.