The Board of Directors of Aiforia Technologies Plc decided on two new option rights plans

Aiforia Technologies Plc, Company release, 22 April 2022 at 9.30 a.m. EEST. The Board of Directors of Aiforia Technologies Plc ("Aiforia") has on 21 April 2022 decided to launch new option right plans 2022 I and 2022 II as described below. There is a weighty financial reason for Aiforia to issue option rights as the option rights are intended to form a part of the Aiforia's incentive and commitment programme for members of the management team of the company, key personnel of the company and its subsidiaries as well as other persons fundamental to the company and its subsidiaries.

Option rights plan 2022 I

Based on the authorisation granted by the Annual General Meeting held on 29 June 2021, as amended by way of a unanimous shareholder resolution on 20 September 2021, the Board of Directors of Aiforia has resolved to grant a maximum of 124,500 option rights entitling to shares to a member of the management team under the option rights plan 2022 I. The option rights plan is related to the implementation of a stock option award agreed previously with the management team member. The option rights will be offered without consideration. Each option right entitles to subscribe for one ordinary share in Aiforia for a subscription price of EUR 1.3724 per share.

Granted share options shall vest and become exercisable in three instalments. 25,000 option rights shall vest and become exercisable immediately after the registration of the option rights in the trade register, 49,750 option rights shall vest and become exercisable on 31 December 2022, and 49,750 option rights shall vest and become exercisable on 31 December 2023. The option rights shall expire on 31 December 2028 or earlier subject to customary conditions.

Option rights plan 2022 II

Based on the authorisation granted by the Annual General Meeting held on 29 June 2021, as amended by way of a unanimous shareholder resolution on 20 September 2021, and the authorisation granted by the Annual General Meeting held on 5 April 2022, the Board of Directors of Aiforia has resolved to grant a maximum of 1,887,850 option rights entitling to shares to certain members of the management team, key personnel of the company and its subsidiaries as well as other persons fundamental to the company and its subsidiaries under the option rights plan 2022 II. The option rights will be offered without consideration. Each option right entitles to subscribe for one ordinary share in Aiforia. The subscription price is EUR 5.01 per share for such option rights that have been offered during a period from 1 January 2022 to 30 June 2022. Otherwise, the subscription price of shares subscribed with the option rights will be determined as the volume-weighted average trading price of the shares on a securities exchange on which the shares are then listed, during a calendar quarter immediately preceding the time the option rights have been offered. However, the subscription price is always EUR 0.01 per share at the minimum.

The share options granted during the calendar year 2022 shall vest and become exercisable over a four-year period, with 1/4 becoming exercisable from 31 December 2022, with 1/4 from 31 December 2023, with 1/4 from 31 December 2024 and with 1/4 from 31 December 2025. The share options granted during the calendar year 2023 shall vest and become exercisable over a three-year period, with 1/3 becoming exercisable from 31 December 2023, with 1/3 from 31 December 2024, and with 1/3 from 31 December 2025. The option rights expire on 31 December 2028 or earlier subject to customary conditions.

Further enquiries

Jukka Tapaninen, CEO, Aiforia Technologies Plc, tel. +33610416686

Veli-Matti Parkkonen, CFO, Aiforia Technologies Plc, tel. +358405009878

Certified adviser

UB Securities Ltd, tel. +358 9 25 380 225

About Aiforia

Aiforia equips pathologists and scientists in preclinical and clinical labs with powerful deep learning artificial intelligence software for translating images into discoveries, decisions, and diagnoses. The cloud based Aiforia products and services aim to escalate the efficiency and precision of medical image analysis beyond current capabilities, across a variety of fields from oncology to neuroscience and more. Find out more: www.aiforia.com.