Thor Medical ASA – Share Option grant

Oslo, Norway, 21 January 2026 – Thor Medical ASA (the "Company") has granted share options to employees and senior management.

In connection with the appointments of Therese Kvehaugen as Executive Vice President Human Resources and Mathias Reierth as Head of Communications & Corporate Affairs, the Company has today granted 700,000 and 600,000 share options to them, respectively. The options are granted in accordance with the Company's guidelines for remuneration of senior executives and board members, as approved by Thor Medical's annual general meeting held 11 April 2024.

Each option provides a right to acquire one share at the exercise price, equal to the volume-weighted share price over the last ten trading days prior to grant. The options will vest over the period from 1 February 2026 to 1 August 2027, subject to continued employment with the Company, with a first tranche corresponding to 2/3 of the granted options vesting 12 months after the grant. The remaining options will vest monthly up until 1 August 2027.

Notifications of the transaction in accordance with the Market Abuse Regulation Article 19 are attached to this announcement.

For further information please contact:

Brede Ellingsæter
Chief Financial Officer
Tel: +47 472 38 440,
Email: brede.ellingseter@thormedical.com

ABOUT THOR MEDICAL ASA

Thor Medical is an emerging supplier of radionuclides, primarily alpha particle emitters, 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'.

To learn more, visit https://www.thormedical.com.

This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation article 19 and section 5-12 of the Securities Trading Act.