16.6.2025 07:30:00 CEST | Thor Medical ASA | Inside information

Oslo, 16 June 2025: Thor Medical ASA, a leading emerging supplier of
alpha-emitters for next-generation precision cancer treatment, has signed a
strategic agreement for supply of Thorium-228 to a global leader in targeted
alpha therapy.

The five-year supply agreement represents revenues of approximately NOK 200
million (USD 20 million) for Thor Medical, with a phased ramp-up of supply in
accordance with the planned commissioning and scaling of the company's AlphaOne
plant, currently under construction.

Thorium-228 is a precursor for Pb-212, which is widely regarded as one of the
most promising radioisotopes for use in next-generation precision cancer
treatments.

"We are proud to supply a global frontrunner in targeted alpha therapy and to
contribute to a broad clinical program aimed at tackling some of the most
challenging cancers. This agreement further validates the growing momentum and
accelerating demand for alpha-emitting radiotherapeutics and the strategic role
Thorium-228 will play in the future of precision oncology," says Jasper C.
Kurth, CEO of Thor Medical.

The undisclosed partner is progressing an extensive portfolio of targeted alpha
therapy programs, including advanced-stage candidates addressing a variety of
solid tumors.

AlphaOne, Thor Medical's first commercial-scale facility for high-quality
radioisotopes entered construction in April following a final investment
decision at the end of March. The plant will be fully operational in Q3 2026..

"Global demand for alpha-emitting isotopes is outpacing available and planned
capacity, and we are actively scaling to meet this need. Through process
innovation and continuous debottlenecking at AlphaOne, we are positioning Thor
Medical to reliably support the growing clinical and future commercial demand,"
says Jasper C. Kurth, CEO of Thor Medical.

The agreement represents Thor Medical's fourth commercial supply agreement,
adding to long-term supply agreement for Thorium-228 with ARTBIO and AdvanCell,
and a supply agreement for Pb-212 for preclinical use with a big pharma company.

CONTACT

Brede Ellingsæter, CFO & COO Thor Medical, +47 472 38 440, 
brede.ellingseter@thormedical.com

ABOUT THOR MEDICAL ASA 

Thor Medical is an emerging supplier of alpha particle emitters produced from
naturally occurring thorium. Its proprietary production process requires no
irradiation or use of nuclear reactors, and provides reliable, environmentally
friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical
industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo
Stock Exchange under the ticker symbol 'TRMED'.

IMPORTANT INFORMATION 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock
exchange announcement was published by Brede Ellingsæter, CFOO, Thor Medical
ASA, at the time and date stated above in this announcement.

This release contains forward -looking information and statements relating to
the business, performance, and matters that may impact the results of Thor
Medical. Forward-looking statements are statements that are not historical facts
and may be identified by words such as "aims," "anticipates," "believes,"
"estimates," "expects," "foresees," "intends," "plans," "predicts," "projects,"
"targets," "potential," and similar expressions. Such forward-looking statements
are based on current expectations, estimates, and projections, reflect current
views concerning future events, and are subject to risks, uncertainties, and
assumptions, and may be subject to change without notice. Forward-looking
statements are not guarantees of any future performance, and risks,
uncertainties, and other important factors could cause the actual business,
performance, results, or the industry and markets in which Thor Medical operates
to differ materially from the statements expressed or implied in this release by
such forward-looking statements. No representation is made that any of these
forward-looking statements or forecasts will come to pass or that any forecasted
performance, capacities, or results will be achieved, and you are cautioned not
to place any undue reliance on any forward-looking statements.

This release is for information purposes only and is not to be relied upon in
substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. 

ATTACHMENTS

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