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Regulatory press release

Karo Pharma: Termination of project regarding ROR-gamma

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Pfizer has informed Karo Pharma about its decision to terminate the specific development project, PF-06763809. As a result, Karo Pharma will not receive further development and sales milestones related to the project. In May 2018 Karo Pharma communicated theoretical milestones of up to 200 MUSD.

The termination of the project has no impact on the running operations nor the business outlook.

For further information, please contact:

Christoffer Lorenzen, CEO, +4673-501 76 20, christoffer.lorenzen@karopharma.com

Jon Johnsson, CFO, +4673-507 88 61, jon.johnsson@karopharma.com

About Karo Pharma

Karo Pharma is a pharmaceutical company specialised in sales and marketing of prescription pharmaceuticals and over-the-counter products sold in pharmacies and retail. Karo Pharma is listed on Nasdaq Stockholm Mid Cap.

This information is such information that Karo Pharma is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.30 CEST on 5 November 2019.

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