NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART,

DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION

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Calliditas Therapeutics has resolved on a directed share issue in

the amount of 2.4 million shares, raising proceeds of approximately SEK 324 million

Calliditas Therapeutics AB (publ) ("Calliditas" or the

"Company") (Nasdaq Stockholm - CALTX; Nasdaq - CALT), a biopharma company focused on identifying, developing and

commercializing novel treatments in orphan indications, today announced, in accordance with the Company's press release earlier

today, the closing of a directed share issue consisting of 2,400,000 common shares at a price of SEK 135 per share (the "Issue").

The Issue will raise proceeds for the Company of approximately SEK 324 million before transaction costs. The subscription price in the

Issue has been determined through an accelerated book building procedure.

The Board of Directors of Calliditas has, in accordance with the issue

authorization granted by the Annual General Meeting on May 27, 2021, and as indicated in the Company's press release on earlier

today, resolved on a directed share issue of 2,400,000 new shares at a subscription price of SEK 135 per share, consequently raising gross

proceeds of approximately SEK 324 million. The subscription price in the Issue has been determined through an accelerated book building

procedure which is why the Board of Directors' assessment is that the subscription price is in accordance with market conditions.

The reasons for the deviation from the shareholders' preferential rights are to raise capital for the development of ongoing projects

in a time and cost-effective manner. Moreover, the Company will further strengthen the shareholder base with Swedish and international

institutional investors and sector specialist investors through the Issue.

The Company intends to use the net proceeds from the Issue for:

The Issue will entail a dilution of approximately 4.6 percent of the

number of shares and votes in the Company. Through the Issue, the number of outstanding shares and votes will increase by 2,400,000, from

49,941,584 to 52,341,584. The share capital will increase by SEK 96,000, from SEK 1,997,663.36 to SEK 2,093,663.36.

In connection with the Issue, the Company has agreed to a lock-up undertaking,

with customary exceptions, on future share issuances for a period of 90 days. In addition, members of the Board of Directors and management

of Calliditas, who owns shares or warrants, have, in connection with the Issue, agreed not to sell any shares in the Company during a

lock-up period of 90 days subject to customary exceptions.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART,

DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION

OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.

In conjunction with the Issue, the Company has engaged Carnegie Investment

Bank AB (publ) and Jefferies GmbH as Joint Global Coordinators and Joint Bookrunners, and Kempen & Co as Joint Bookrunner (together

the "Banks"). Vinge act as legal adviser to the Company and Baker McKenzie act as legal adviser to the Banks.

For further information, please contact:

Ren e Aguiar-Lucander, CEO at Calliditas

E-mail: renee.lucander@calliditas.com

Marie Galay, Corporate Communications and IR

Tel.: +44 7955 129 845, e-mail: marie.galay@calliditas.com

The information in the press release is inside

information that Calliditas 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 above, on August 12, 2021 at 23:55 (CEST).

Calliditas Therapeutics is a biopharma company based in Stockholm,

Sweden focused on identifying, developing and commercializing novel treatments in orphan indications, with an initial focus on renal and

hepatic diseases with significant unmet medical needs. Calliditas' lead product candidate, Nefecon, is a proprietary, novel oral

formulation of budesonide, an established, highly potent local immunosuppressant, for the treatment of adults with the autoimmune renal

disease primary IgA nephropathy (IgAN), for which there is a high unmet medical need and there are no approved treatments. Calliditas

has recently read out topline data from Part A of its global Phase 3 study in IgAN and, if approved, aims to commercialize Nefecon

in the United States. Calliditas is also planning to start clinical trials with NOX inhibitors in primary biliary cholangitis and head

and neck cancer. Calliditas is listed on Nasdaq Stockholm (ticker: CALTX) and the Nasdaq Global Select Market (ticker: CALT).

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART,

DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION

OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.

Important information

The release, announcement or distribution of this

press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this

press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release

is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction.

This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Calliditas

in any jurisdiction, neither from Calliditas nor from someone else.

This announcement does

not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in

the new shares. Any investment decision in connection with the Directed Share Issue must be made on the basis of all publicly available

information relating to the Company and the Company's shares. Such information has not been independently verified by the Joint

Bookrunners. The information contained in this announcement is for background purposes only and does not purport to be full or complete.

No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The Joint

Bookrunners are acting for the Company in connection with the transaction and no one else and will not be responsible to anyone other

than the Company for providing the protections afforded to its clients nor for giving advice in relation to the transaction or any other

matter referred to herein.

This announcement does

not constitute a recommendation concerning any investor's option with respect to the Directed Share Issue. Each investor or prospective

investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement

and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future

This press release does

not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred

to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933,

as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an

applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention

to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.

The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole

or in part, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, the United States or in any other

jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations

or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required

under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

This press release is

not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the

"Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. Calliditas has

not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus for an offering has been or

will be prepared in connection with the Directed Share Issue. In any EEA Member State, this communication is only addressed to and is

only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART,

DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION

OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.

In the United Kingdom,

this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed

at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified

investors" who are (i) persons having professional experience in matters relating to investments who fall within the definition

of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion)

Order 2005 (the "Order"); (ii) high net worth entities falling within Article 49(2)(a) to (d) of

the Order; or (iii) any other person to whom it may otherwise lawfully be communicated (all such persons together being referred

to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates