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Reference is made to the stock exchange announcement made by Zelluna ASA (the "Company") on 18 June 2026 regarding the total allocation of 3,143,958 new shares in the Company in a private placement and a retail offering, consisting of 2,972,973 new shares in the private placement and 170,985 new shares in the retail offering through Nordnet Bank AB.

REYKJAVIK, ICELAND (June 18, 2026) — Alvotech (NASDAQ: ALVO; ALVO-SDB) (“Alvotech” or the “Company”), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the closing on June 17, 2026 of its previously announced underwritten public offering (the “Offering”) of 26,066,667 of its ordinary shares at an offering price of $3.75 per share, which includes 3,400,000 ordinary shares issued pursuant to the exercise in full by the underwriters of their option to purchase additional ordinary shares in the Offering. All ordinary shares sold in the Offering were offered by Alvotech. Before deducting the underwriting discounts and commissions and offering expenses, the aggregate gross proceeds to the Company were approximately $98 million.