Ultimovacs’ Chief Scientific Officer Gustav Gaudernack Receives Norwegian Tech Award’s Honorary Prize as an Outstanding Pioneer Against Cancer

NON-REGULATORY PRESS RELEASE The Honorary Prize is awarded to an individual who has left a remarkable imprint and contributed with notable impact through their dedicated efforts and outstanding achievements over the course of several years The Norwegian Tech Award is organized by Teknisk Ukeblad (“Technology Weekly”), tu.no  Oslo, 22 June 2023: Ultimovacs ASA (“Ultimovacs”) (OSE ULTI), a clinical-stage biotechnology leader in novel immunotherapeutic cancer vaccines, today announced that Chief Scientific Officer and inventor of the universal cancer vaccine UV1, Professor Gustav Gaudernack, has been awarded the prestigious Norwegian Tech Award’s Honorary Prize. The ceremony took place today at Kongsberg Agenda. The jury’s rationale for selecting Gustav Gaudernack for the Honorary Prize of 2023 is: Gustav Gaudernack is a highly deserving candidate to receive the Honorary Award. He has demonstrated exceptional expertise and achievements in the field of immunotherapy, playing a defining role in its development over the course of his long and steadfast career. His contribution as an inventor together with his research team from Oslo Universal Hospital, Radiumhospitalet, and as an entrepreneur, notably in Ultimovacs and other companies, has made a significant impact on the advancement of cancer research and immunotherapy. Furthermore, his dedication as a professor and his masterly mentoring skills have fostered the growth of numerous talented oncology professionals who are now actively contributing to the ongoing progress of immunotherapy in Norway. Overall, his remarkable accomplishments and unwavering commitment make him a truly deserving candidate for this prestigious recognition. “We are thrilled that Gustav Gaudernack, the brilliant mind behind our cancer vaccine UV1, has been honored today with the prestigious Honorary Award. This recognition is truly well deserved: Gustav’s devotion and perseverance within the field of immunotherapy is remarkable even on an international scale. We extend our heartfelt congratulations to Gustav from all of us at Ultimovacs,” says Carlos de Sousa, Chief Executive Officer at Ultimovacs. ==ENDS== About UltimovacsUltimovacs is a clinical-stage biotechnology leader in novel immunotherapeutic cancer vaccines with broad applicability. Ultimovacs’ lead cancer vaccine candidate UV1 is directed against human telomerase (hTERT) an antigen that is present in 85-90% of cancers in all stages of tumor growth. A broad clinical program, with Phase II trials in five cancer indications enrolling more than 670 patients, aims to demonstrate UV1’s impact in combination with other immunotherapies in multiple cancer types expressing telomerase and where patients have unmet medical needs. UV1 is universal, off-the-shelf, and easy to use, and is a patented technology owned by Ultimovacs. In addition, Ultimovacs’ adjuvant platform, based on the proprietary Tetanus-Epitope-Targeting (TET) technology, combines tumor-specific antigens and adjuvant in the same molecule and is in Phase I clinical development. About UV1 UV1 is a universal cancer vaccine designed to induce a specific T cell response against telomerase. UV1 consists of long, synthetic peptides, representing a sequence in the reverse transcriptase subunit of telomerase (hTERT), shown to induce CD4+ T cells. These CD4+ T cells have the potential to provide inflammatory signals and T cell support believed to be critical for triggering a strong anti-tumor immune response. Following intradermal injection, antigen-presenting cells (APCs) in the skin are exposed to the vaccine peptides. These APCs will process the peptides, and present vaccine epitopes on Human Leukocyte Antigen (HLA) molecules to naïve T cells in the lymph nodes. Activated vaccine-specific T cells will then enter the circulation and search for cells displaying their cognate antigen in the context of HLA molecules. The UV1 peptides contain several epitopes, shown to be non-restrictive in terms of (HLA) alleles for presentation. It is therefore not required to perform HLA pre-screening of patients, which potentially enables broad population utilization of the vaccine. UV1 is administered over three months as eight intradermal injections together with the immune-modulator GM-CSF. For further information, please see www.ultimovacs.com or contact: Carlos de Sousa, CEO Email: [email protected]: +47 908 92507 Anne Worsøe, Head of Investor RelationsEmail: [email protected]: +47 90686815 This stock exchange announcement was published Anne Worsøe, Head of IR at Ultimovacs ASA, on 22 June, 2023 at 15:30 CET.