Stockholm

of over-allotment option and end of the stabilization period

Citigroup Global Markets Inc. ("Citigroup"),

in its capacity as Joint Global Coordinator, notifies that the stabilization period relating to Calliditas Therapeutics AB (publ)'s

("Calliditas" or the "Company") American Depositary Shares ("ADSs"), traded on The Nasdaq Global

Select Market has ended and no further stabilization transactions will be effected. The over-allotment option is partially exercised

by Citigroup and Jefferies LLC on behalf of the underwriters, which means that 706,676 new common shares, represented by 353,338

ADSs, will be issued by the Company.

As announced by the Company in connection

with the initial public offering on The Nasdaq Global Select Market, by way of an issuance of new common shares in the form of

ADSs, each representing two (2) underlying new common shares of Calliditas, (the "U.S. Offering"), and a concurrent

private placement of common shares to certain qualified investors in Europe and certain other jurisdictions outside of the United

States (together with the U.S. Offering, the "Global Offering"), Citigroup may, acting as Joint Global Coordinator

and stabilization manager, carry out transactions aimed at supporting the market price of the ADSs at levels above those which

might otherwise prevail in the market.

Stabilization transactions have been possible

to undertake on The Nasdaq Global Select Market, in the over-the-counter market or otherwise, at any time during the period starting

on the day of pricing of the ADSs on The Nasdaq Global Select Market, June 4, 2020, and ending no later than 30 calendar days thereafter.

Citigroup has, however, not been obliged to undertake any stabilization and there was no assurance that stabilization would be

undertaken. Undertaken stabilization has been possible to discontinue at any time without prior notice. In no event has transactions

been effected at a price higher than the price in the U.S. Offering, i.e. USD 19.50. No stabilization measures have taken or will

take place on Nasdaq Stockholm.

The board of directors of the Company has

granted Citigroup, Jefferies LLC and Stifel, Nicolaus & Company, Inc. (together the "Book Running Managers") an over-allotment

option, which may be utilized in whole or in part for 30 days from the day of pricing of the ADSs on The Nasdaq Global Select Market,

to issue up to 692,306 ADSs, representing 1,384,612 underlying common shares, corresponding to up to 15 percent of the total number

of common shares in the Global Offering, at a price corresponding to the price in the U.S. Offering, to cover any over-allotment

in connection with the Global Offering (the "Over-allotment option"). The Book Running Managers now notify that

the Over-allotment option with respect to 353,338 ADSs, representing 706,676 common shares has been exercised. The Company will

thereby be provided with additional gross proceeds of approximately USD 6,890,000, which means that the Company has been provided

with in total approximately USD 96,890,000, corresponding to approximately SEK 902,666,000, in gross proceeds as a result of the

Global Offering and the Over-allotment option. Immediately following registration of the new common shares issued pursuant to the

Over-allotment option, the number of common shares and votes in the Company will amount to 49,161,584 and the number of issued

ADSs will amount to 4,506,723.

Citigroup has, in its capacity as stabilization

manager, on June 12 and June 24, 2020 notified in accordance with article 5(4) in the Market Abuse Regulation 596/2014 that stabilization

measures have been undertaken, in accordance with Reg M, Rule 104 of the U.S. Securities Act of 1933, as amended, on The Nasdaq

Global Select Market as specified below. No stabilization measures have been undertaken since June 24, 2020. The contact person

at Citigroup is Dean Poniros (tel: +1 212 723 6137, e-mail: dean.poniros@citi.com).

The stabilization period regarding the

Global Offering has now ended and no further stabilization transactions will be effected. Specified below is a summary of the stabilization

transactions which have been effected during the stabilization period in accordance with the press releases of June 12 and June

24, 2020, respectively. All transactions during the stabilization period have been effected on The Nasdaq Global Select Market

and no stabilization transactions have been effected on other dates than those specified below.

For further information, please contact:

Ren e Aguiar-Lucander, CEO at Calliditas

E-mail: renee.lucander@calliditas.com

Telephone: +46 722 52 10 06

Mikael Widell, Head of Communications at Calliditas

E-mail: mikael.widell@calliditas.com

Telephone: +46 703 11 99 60

This information is information that Calliditas is obliged

to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the

agency of the contact person set out below, at 8.45 am CEST on July 2, 2020.

Therapeutics AB is a specialty pharmaceutical company based in Stockholm, Sweden. It is focused on developing high quality pharmaceutical

products for patients with a significant unmet medical need in niche indications, in which Calliditas can partially or completely

participate in the commercialization efforts. Calliditas is focused on the development and commercialization of the product candidate

Nefecon, a unique two step formulation optimized to combine a time lag effect with a concentrated release of the active substance

budesonide, within a designated target area. This patented, locally acting formulation is intended for treatment of patients with

the inflammatory renal disease IgA nephropathy (IgAN). Calliditas is running a global Phase 3 study within IgAN and aims to commercialize

Nefecon in the United States. Calliditas is listed on Nasdaq Stockholm (ticker: CALTX) and The Nasdaq Global Select Market (ticker:

Important information

announcement does not constitute an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of these securities

in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification

under the securities laws of any such state or jurisdiction.

announcements or information regarding the initial public offering may be disseminated to the public in jurisdictions where a

prior registration or approval is required for such purpose. No steps have been taken, or will be taken, for the offering of

Shares or ADSs in any jurisdiction where such steps would be required. The issue or sale of shares or ADSs, and the

subscription for or purchase of shares or ADSs are subject to special legal or statutory restrictions in certain

jurisdictions. Calliditas is not liable if these restrictions are not complied with by any other person. This

announcement 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 has been or will be prepared in connection

therewith. 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.

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");

or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to

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

is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take

any action on the basis of this document and should not act or rely on it.