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DISCLAIMER – IMPORTANT

ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBPAGE BY TARGOVAX ASA IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY.

THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS LOCATED IN THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA, SOUTH AFRICA OR JAPAN.

Please read this notice carefully - it applies to all persons who view this webpage. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the site.

Overseas Persons

Viewing the materials you seek to access may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of person may be allowed to view such materials. Any person resident outside Norway who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.

In particular, unless otherwise determined by Targovax ASA and permitted by applicable law and regulation, it is not intended, subject to certain exceptions, that any offering of the securities mentioned in such materials (the “Securities”) by Targovax ASA would be made, or any documentation be sent, directly or indirectly, in or into, the United States, Canada, Australia, the Hong Kong Special Administrative Region of the People’s Republic of China, South Africa or Japan.

These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for Securities in the United States or in any jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Securities mentioned herein have not been and will not be registered under the US Securities Act of 1933 (the “Securities Act”), and may not be offered, sold, resold, delivered or distributed, directly or indirectly, in or into United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and in compliance with the securities laws of any state or other jurisdiction of the United States. There will be no public offering of such Securities in the United States. The Securities mentioned herein will not be registered under or offered in compliance with applicable securities laws of any state, province, territory, county or jurisdiction of Canada, Australia, the Hong Kong Special Administrative Region of the People’s Republic of China, South Africa or Japan. Accordingly, unless an exemption under the relevant securities law is applicable, any such Securities may not be offered, sold, resold, delivered or distributed, directly or indirectly, in or into Canada, Australia, the Hong Kong Special Administrative Region of the People’s Republic of China, South Africa or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration thereof in, such jurisdiction.

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Basis of access

Access to electronic versions of these materials is being made available on this webpage by Targovax ASA in good faith and for information purposes only. Any person seeking access to this webpage represents and warrants to Targovax ASA that they are doing so for information purposes only. Making press announcements and other documents available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy Securities in Targovax ASA. Further, it does not constitute a recommendation by Targovax ASA or any other party to sell or buy Securities in Targovax ASA.

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