Oslo, Norway, 2 November 2022: Photocure ASA (OSE:PHO) today reported
Hexvix[®]/Cysview[®] revenues of NOK 96.9 million in the third quarter of 2022,
up 12% compared to Q3 2021 (NOK 86.7 million), and  positive EBITDA of NOK 4.7
million (NOK -0.2 million) for the Company. With the launch of Karl Storz's new
high-definition blue light system in the U.S., Photocure expects that placements
of new blue light rigid towers will begin to accelerate in the fourth quarter of
this year. A recent ruling by the Centers for Medicare and Medicaid Services
(CMS) improves U.S. reimbursement for Cysview, expanding access in the
Ambulatory Surgery Center (ASC) segment.

"Photocure delivered Hexvix/Cysview revenue growth of 12%, driven by higher unit
sales in both North America and Europe in addition to the net favorable effect
of foreign exchange. I am very pleased to report that our North American
business segment achieved the highest quarterly unit sales volume in our
history, and we are now in a strong position to significantly expand the
installed base of blue light capital equipment in the U.S. and get back to the
high growth trajectory that we were achieving before the pandemic,"  says Daniel
Schneider, President & Chief Executive Officer of Photocure.

Photocure reported total group revenues of NOK 106.8 million in the third
quarter of 2022 (NOK 87.4 million), and EBITDA* of NOK 4.7 million (NOK -0.2
million), driven by the increase in product revenue and a milestone payment from
Asieris. Hexvix/Cysview revenues ended at NOK 96.9 million in the quarter (Q3
2021: NOK 86.7 million), due to higher unit sales in both North America and
Europe, and net favorable foreign exchange. EBIT was NOK -1.4 million (-6.3
million) and the cash balance at the end of Q3 2022 was NOK 283.9 million.

Photocure announced the commercial availability of Karl Storz's new high
-definition blue light rigid system in the United States late in the quarter.
The Company reports that 10 new blue light towers were installed during the
period