NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, EITHER DIRECTLY OR INDIRECTLY, WITHIN OR INTO THE UNITED STATES, AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE ADDITIONAL REGISTRATIONS OR OTHER MEASURES NOT STIPULATED BY SWEDISH LAW. PLEASE SEE “IMPORTANT INFORMATION” AT THE END OF THIS PRESS RELEASE.

The subscription period in aXichem AB (publ)'s ("aXichem" or the "Company") rights issue of shares, resolved by the Board of Directors on February 23, 2023 (the "Rights Issue"), begins today.

Summary of the Rights Issue

• One (1) existing share gives one (1) subscription right. Seven (7) subscription rights give the right to subscribe for three (3) newly issued shares.
• The subscription price is SEK 7.00 per share. If fully subscribed, the Company will receive SEK 49.6 million before issue costs.
• In connection with the Rights Issue, the Company has received subscription commitments from a number of existing shareholders for a total of approximately SEK 7.7 million, corresponding to approximately 15 percent of the Rights Issue. In addition, aXichem has entered into guarantee commitments for a total of approximately SEK 27.1 million, corresponding to approximately 55 percent of the Rights Issue. The Rights Issue is thus covered by subscription commitments and guarantee commitments of a total of approximately SEK 34.7 million, corresponding to 70 percent of the Rights Issue. The subscription commitments and guarantee commitments are not secured by bank guarantee, restricted funds, pledged assets or similar arrangements. More detailed information about the parties that have entered into subscription commitments and guarantee commitments can be found in the Prospectus, which was published on March 3, 2023.

Timetable for the Rights Issue

8 March – 22 March 2023                                                   Subscription period

8 March – 17 March 2023                                                   Trading in subscription rights

8 March – Until the Rights Issue is registered with
the Swedish Companies Registration Office                    Trading in paid subscribed shares ("BTA")

24 March 2023                                                                       Expected date for publication of results in the Rights Issue

Prospectus

The prospectus, which contains complete terms, conditions and instructions, is available on the Company's, Nordic Issuing AB's and Västra Hamnen Corporate Finance AB's respective websites (www.axichem.com, www.nordic-issuing.se, www.vhcorp.se). The prospectus is also available on the Finansinspektionen's website (www.fi.se).

Presentations for investors

On Tuesday, March 14, 2023 at 4:00 p.m., the Company's CEO, Torsten Helsing, will give a presentation at Aktiespararna's event "Stora Aktiedagarna" in Stockholm. Questions to the Company can be sent to Aktiespararna before the event and registration can be sent via the following link: https://www.aktiespararna.se/aktiviteter/stora-aktiedagen-i-stockholm-14-mars.

In addition, Västra Hamnen Corporate Finance will host an online company presentation with CEO Torsten Helsing on Thursday, March 16, 2023 at 2:00 p.m. After the presentation, the audience is given the opportunity to ask questions. Questions can also be asked in advance to info@vhcorp.se. The presentation is held in Swedish and can be attended through computer or mobile devices. Registration for the online presentation is sent via the following link: https://attendee.gotowebinar.com/register/8536926466527011677

Financial advisers, legal advisers and issuing agent

Västra Hamnen Corporate Finance AB (publ) acts as financial adviser and Vinge acts as legal adviser to aXichem in connection with the rights issue. Nordic Issuing acts as issuing agent.

For further information:

Torsten Helsing,

CEO, aXichem AB, phone: +46 706 863 355

Email: torsten.helsing@axichem.com

Or visit: www.axichem.com

Certified advisor for aXichem is Västra Hamnen Corporate Finance AB.

The information was submitted, through the agency of the contact person, for publication on March 8, 2023, at 08:30 AM CET.