CORPORATE GOVERNANCEINCENTIVE PROGRAM

LONG TERM INCENTIVE PROGRAM – WARRANT PROGRAM 2022/2025

The Annual General Meeting held on 11 May 2022 resolved to implement a long term incentive program (Warrant program 2022/2025) for employees and consultants in the Company.

The warrant program comprises of 300,000 warrants which, if all warrants are utilized for subscription of new shares, corresponds to a dilution of approximately 0,8 per cent of the Company´s share capital and votes after full dilution. Each warrant entitles to subscription of one new share in Polygiene and shall correspond to 200 per cent of the volume weighted average price for the Polygiene share according to Nasdaq First North Growth Market’s official price list during the period from and including 12 May 2022 to and including 20 May 2022.

These warrants may be excercised during the period from 1 to 30 June 2025 for an exercise price of SEK 26.62 per share.

There are currently additional incentive programs in the form of the following outstanding warrants programs:

WARRANT PROGRAM 2020/2023 AND 2021/2024

There are corresponding warrant programs for 2020/2023 and 2021/2024 for employees and consultants in the Company.

The Warrant program 2020/2023 comprises 300,000 warrants and each warrant entitles to subscription of one share in the Company. The warrants may be excercised during the period from 1 to 30 June 2023 for an excercise price of SEK 22.36 per share.

The Warrant program 2021/2024 comprises 300,000 warrants and each warrant entitles to subscription of one share in the Company. The warrants may be excercised during the period from 1 to 30 June 2024 for an excercise price of SEK 68.28 per share.

The number of shares in the Company amounts to 36,526,989 and if all proposed and existing warrant programs are exercised in full, in the aggregate 900,000 shares will be issued, which corresponds to a dilution of approximately 2.5 per cent of Polygiene´s share capital and votes after full dilution.

The Company has no other costs for the warrant programs than administrative costs regarding advisors etc. in connection with the preparation of the documentation and the resolution to issue the warrants.

The Warrant program 2018/2021 adopted by the Annual General Meeting held on 4 May 2018 expired in June 2021 and the Warrant program 2019/2022 adopted by the Annual General Meeting held on 17 May 2019 expired in June 2022.