Proposal to the Nomination Committee for Immunicum AB (publ) and the 2020 Annual General Meeting

Compensation to the Board of Directors

Creopretium including related parties note that a majority of the board do not hold shares or hold a negligible number of shares in Immunicum AB (publ) in relation to compensation.

Table 1. Immunicum Board of Directorsʼ ownership and compensation

	Appointed year	Number of shares	Value, kSEK	Compensation 2018, kSEK	Total compensation since appointment, kSEK	Value kSEK/total comp since appointment, (x)
Michael Oredsson, Chairman	2018	17,560	117	450	813	0.14
Charlotte Edenius	2016	4,000	27	150	513	0.05
Magnus Persson	2015	0	-	165	639	-
Steven Glazer	2016	0	-	175	594	-
Kerstin Valinder Strinnholm	2016	0	-	175	531	-

Source: Immunicum AB (publ)

Creopretium including related partiesʼ proposal:

The nomination committeeʼs proposal includes a recommendation regarding the compensation to the board of directors for 2020: each director of the board is recommended to purchase shares in an amount equal to at least 100% of the total compensation received in 2020 after tax has been deducted. ¹

Creopretiumʼs rational behind the proposal:

Align board of directorsʼ interests with shareholders.
Signalling board of directorsʼ belief in Immunicum as an attractive investment.

Creopretiumʼs assessment is that this proposal to the annual general meeting 2020 is in the interest of all shareholders.

Yours sincerely,

Hans Derninger

Managing Director

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¹ Under normal circumstances purchased shares shall not be divested before directorship has ended.

About Creopretium

Creopretium AB ("Creopretium") is a local operating partner to investors active in the Nordics. Creopretium offers advisory and co-investments where exceptional value can be unlocked through active ownership. Creopretium is a privated limited liability company under the laws of Sweden and registered with Swedish Companies Registration Office. Corporate registration number 556882–0111. The registered office of the board is in Stockholm, Sweden. For more information about Creopretium, please visit https://creopretium.se