OSLO - January 24, 2024: SoftOx Solutions, a Medtech and clinical-stage
pharmaceutical company, has reached a conditional agreement with the lenders in
the 15 million loan plus accrued interests from spring 2023 with due date of 31.
January 2024. The lenders will convert a total of NOK 22 million into new equity
in the Company within 1st of April 2024. As part of the agreement a total of
4.800.000 warrants to buy shares in the company at strike NOK 8 per share will
be nulled.

The agreement further require that the Company successfully raise at least NOK
25 million in new share capital. Reference is also made to SoftOx's press
release of 16th of January 2024, where the Company announced that the company
had closed a conditional agreement with the lender in the NOK 40 million plus
interest convertible loan.

Total convertible debt in the company including accrued interests and debt to
employees of the Borrower amounts to about NOK 77 million, which will all be
converted at the same price as the price in the equity issue.

As a result of reaching this agreement the company will now start the work with
raising a minimum of NOK 25 million in equity to fund SoftOx Solutions AS. 

As announced 11th of January 2024 the company will initiate the drop down of
Wound & Skin care in a separate company. The listed company will focus on SoftOx
Inhalation Solutions including the Counteract program funded by European Defence
Fund. The next step in the civil clinical development of SoftOx Inhalation
Solutions will be a phase 2 efficacy study (Proof of Concept) on patients with
Ventilator associated pneumonia(VAP). The cost of the study is estimated to
approx. NOK 30 million. 

For any questions or interview requests, please contact: 
Geir Almås, Chair of SoftOx Solutions AS 
Mail: ir@soft-ox.com 
Phone: Front Desk: (+47) 948-59-599 

About SoftOx Solutions AS 
SoftOx Solutions AS (SoftOx) is a Medtech and pharmaceutical company listed on
Euronext Growth Oslo under 'SOFTX'. SoftOx Solutions AS was founded in 2012 and
is headquartered in Oslo. The SoftOx Solutions Group includes: the holding
company SoftOx Solutions AS, the Malmö subsidiary, and subsidiaries SoftOx
Defense Solutions AS and SoftOx Disinfection AS. SoftOx is developing a highly
effective antimicrobial solution for use in biofilm, viral and antimicrobial
resistant infections. The patent-protected technology is based on extensive
research and development in partnership with leading Nordic research institutes.

For more information on SoftOx, visit www.soft-ox.com