Issue of Shares to Employee Benefit Trust

This announcement contains regulated information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.

Cambridge, UK and Indianapolis, US – 15 March 2022: Acacia Pharma Group plc (“Acacia Pharma”, the “Group” or the “Company”) (EURONEXT: ACPH), a hospital pharmaceutical company focused on the development and commercialization of new products aimed at improving the care of patients undergoing significant treatments such as surgery, other invasive procedures or cancer chemotherapy, was notified on 11 March 2022 that the Company's Employee Benefit Trust ("EBT") intends to subscribe for 63,710 new ordinary shares in the Company at their par value of 2p each and at an aggregate cost to the EBT of £1,274.20 (the "New Ordinary Shares"). The Company has agreed to lend £1,274.20 to the EBT to fund its subscription for the New Ordinary Shares.

The New Ordinary Shares to be held in the EBT will be transferred to Michael Bolinder, the Company CEO, to satisfy the share awards granted in 2018 under the Company's Performance Share Plan (the “Awards”). The Awards vested on 17 December 2021 and must be settled by 15 March 2022 pursuant to the terms of the Awards and the Company’s Performance Share Plan.

Accordingly, on 15 March 2022, the Company allotted the New Ordinary Shares to the EBT and such shares will rank pari passu in all respects with the existing ordinary shares of the Company. Application has been made to Euronext Brussels for the admission of the New Ordinary Shares to trading.

Following the issue of the New Ordinary Shares, the Company's total issued share capital consists of 100,923,133 ordinary shares with one voting right per share. The Company does not hold any ordinary shares in treasury. Therefore, following the issue of the New Ordinary Shares, the total number of voting rights in the Company is 100,923,133.

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About Acacia Pharma

Acacia Pharma is a hospital pharmaceutical company focused on the development and commercialization of new products aimed at improving the care of patients undergoing significant treatments such as surgery, other invasive procedures, or cancer chemotherapy. The Company has identified important and commercially attractive unmet needs in these areas that its product portfolio aims to address.

Barhemsys® (amisulpride) injection is a selective dopamine (D2 and D3) receptor antagonist approved and available in the US for the treatment and prevention of postoperative nausea & vomiting (PONV) in adult patients.

Please see full prescribing information, including Important Safety Information, at .

Byfavo® (remimazolam) for injection, is an IV benzodiazepine sedative approved and available in the US for the induction and maintenance of procedural sedation in adults undergoing procedures lasting 30 minutes or less. Byfavo is in-licensed from Paion UK Limited for the US market.

Please see full prescribing information, including Important Safety Information and Boxed Warning, at .

APD403 (intravenous and oral amisulpride), a selective dopamine antagonist for chemotherapy induced nausea & vomiting (CINV) has successfully completed one proof-of-concept and one Phase 2 dose-ranging study in patients receiving highly emetogenic chemotherapy.

Acacia Pharma has its US headquarters in Indianapolis, IN and its R&D operations are centred in Cambridge, UK. The Company is listed on the Euronext Brussels exchange under the ISIN code GB00BYWF9Y76 and ticker symbol ACPH.

This release is intended for investors and media only.

Forward looking statements

This announcement includes forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, any statements preceded by, followed by or including words such as "believe", "expect", "intend", "may", "plan", "will", "should", "could" and other words and terms of similar meaning or the negative thereof. Forward-looking statements may and often do differ materially from actual results. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and investments, including, among other things, the development of its business, trends in its operating industry, and future capital expenditures and acquisitions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, prospects, growth or strategies and the industry in which it operates. Save as required by law or applicable regulation, the Company and its affiliates expressly disclaim any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise. Forward-looking statements speak only as of the date they are made.