Annual General Meeting 2015 in Karo Bio AB (publ)

STOCKHOLM, Sweden, April 29, 2015 – At today’s Annual General Meeting in Karo
Bio the following main resolutions were passed.

The AGM voted in favour of adopting the income statements and balance sheets for
the Group and the parent company, and decided that fund at the disposal of the
general meeting, amounting to SEK 27,391,532, including the loss for the year
amounting to SEK – 59,281,382, should be carried forward. Thus, it was resolved
that no dividend should be paid for the financial year 2014.

The AGM further discharged the Board members and the CEO from liability, re
-elected the ordinary board members Anders Lönner, Thomas Hedner, Göran Wessman,
Per-Anders Johansson and elected Jean Lycke as new Board member. Anders Lönner
was elected Chairman of the Board.

The AGM resolved that the Board’s fees shall remain unchanged at SEK 420,000 for
the Chairman of the Board and SEK 150,000 for each of the other members of the
Board.

The accounting firm PricewaterhouseCoopers AB was re-elected as the company’s
auditor until the AGM 2016.

The AGM also resolved in accordance with the Board’s proposal on guidelines for
remuneration of executive management.

Lastly, the Board was authorized to, on one or several occasions prior to the
next annual general, resolve on new share issues. The number of shares to be
issued by virtue of the authorization shall not exceed 10 per cent of the
registered share capital (at the time of the share issue resolution). The new
share may be made with our without deviation from the shareholders’ pre-emption
right and with or without terms of issue in kind or set-off or other terms. The
purpose of the authorization is to increase the company’s financial flexibility
and enable acquisitions through payment with shares. If the board of directors
resolves on a share issue with deviation from the shareholders’ pre-emption
right, the reasons shall be to provide the company with new capital and/or new
shareholders of strategic importance for the company and/or acquisitions of
other companies or businesses. When deviating from the shareholders’ pre-emption
right the basis for the subscription price shall be on market terms. Other terms
may be resolved by the Board.

For further information, please contact:
Henrik Palm, CFO, mobile phone +46 70 540 40 14 or e-mail henrik.palm@karobio.se

About Karo Bio
Karo Bio is a development company focused on broadening its operations to
include projects and products closer to market. Karo Bio has several projects
approaching clinical phase. Karo Bio is based in Huddinge, Sweden and is listed
on Nasdaq Stockholm.

Karo Bio publishes this information in accordance with the Swedish Securities
Markets Act. The information was submitted for publication on April 29, 2015, at
7:30 pm CET.

This press release is also available at www.karobio.com and
www.newsroom.cision.com