Oslo, Norway, 26 August 2022

Nordic Nanovector ASA (OSE: NANOV) ("Nordic Nanovector" or the "Company") today
announces that further to the decisions to discontinue the PARADIGME study for
its lead asset Betalutin[®], restructure the company and appoint Carnegie
Investment Bank to explore strategic options the senior leadership team will be
consolidated, and current Chief Executive Officer Erik Skullerud will transition
out of his role.

Nordic Nanovector's Chief Financial Officer Malene Brondberg will assume the
combined position of CFO and interim CEO while the Company continues to work
with Carnegie to explore strategic options.

The Board has initiated this strategic exercise with the aim of optimising
shareholder value, following the slow recruitment and subsequent disappointing
data from the PARADIGME clinical trial, while in parallel recognising the need
to conserve resources during the process.

Chairman, Jan H. Egberts commented: "It is important that we make the changes
needed to restructure our business in the difficult circumstances we now face
following the disappointing results from Betalutin[®] in third line FL. As a
result, we have now implemented staff reductions at all levels of the company to
minimise costs. While difficult, we believe this is the most responsible course
of action given the interests of our stakeholders. I would like to extend my
sincere gratitude and thanks to all of Nordic Nanovector's departing staff,
including Erik Skullerud for his leadership and significant contributions and
commitment to the company."

Further detail on the company's restructuring will be given at Nordic
Nanovector's Q2 2022 results, which will be announced on 31 August 2022.

No assurances can be given as to the outcome or timing of the review process
being conducted by Carnegie. Nordic Nanovector does not intend to make any
further public comment regarding the review until it has been completed or the
Company determines that disclosure is required or appropriate.

For further information, please contact:

IR enquiries

Jan H. Egberts, Chairman of Nordic Nanovector
Tel: +31 614672518
Email: janegberts@aol.com

Media Enquiries

Mark Swallow/Frazer Hall (MEDiSTRAVA Consulting)
Tel: +44 203 928 6900
Email: nordicnanovector@medistrava.com

About Nordic Nanovector:

Nordic Nanovector is committed to develop and deliver innovative therapies to
patients to address major unmet medical needs and advance cancer care. The
Company aspires to become a leader in radionuclide therapy of cancer. In
addition to Betalutin[®],for which Nordic Nanovector retains global marketing
rights, the Company's novel pipeline includes Humalutin[®], a radioimmunotherapy
candidate based on a chimeric anti-CD37 antibody and the beta emitter lutetium
-177 for NHL