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Mar 9, 2016

OvaScience Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

WALTHAM, Mass.--(BUSINESS WIRE)--Mar. 9, 2016-- OvaScienceSM (NASDAQ: OVAS), a global fertility company focused on the discovery, development and commercialization of new treatment options, announced today the grant of inducement awards to its newly appointed Chief Operating Officer, Paul Chapman, and newly appointed Executive Vice President of Corporate Communications, Rebecca Peterson. The awards were approved by the Board's Compensation Committee and ratified by the full Board on March 3, 2016 as an inducement material to each executive entering into employment with the Company, as permitted under NASDAQ Listing Rule 5635(c)(4).

The inducement grant to Mr. Chapman consisted of an option to purchase up to 350,000 shares of common stock and the inducement grant to Ms. Peterson consisted of an option to purchase up to 200,000 shares of common stock. Both inducement grants are exercisable at a price of $6.96 per share, equal to the closing price per share of OvaScience’s common stock as reported by NASDAQ on March 3, 2016. The stock options vest over four years, with 25% of the shares vesting on February 25, 2017 for Mr. Chapman and 25% of the shares vesting on March 3, 2017 for Ms. Peterson, and an additional 6.25% of the shares vesting at the end of each subsequent quarter thereafter, subject to each executive’s continued service relationship with OvaScience through the applicable vesting dates.

In addition, OvaScience also announced that it granted options to purchase an aggregate of 23,000 shares of its common stock to five newly hired employees. These grants were also made in accordance with NASDAQ Listing Rule 5635(c)(4). The awards were approved by the Board's Compensation Committee and ratified by the full Board on March 3, 2016 as an inducement material to each employee's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4). These new hire inducement grants are exercisable at a price of $6.96 per share, equal to the closing price per share of OvaScience’s common stock as reported by NASDAQ on March 3, 2016. These stock options vest over four years, with 25% of the shares vesting on the one-year anniversary of each employee’s hire date and an additional 6.25% of the shares vesting at the end of each subsequent quarter thereafter, subject to the new employee's continued service relationship with the Company through the applicable vesting dates.

About OvaScience
OvaScience (NASDAQ: OVAS) is a global fertility company dedicated to improving treatment options for women around the world. OvaScience is discovering, developing and commercializing new fertility treatments because we believe women deserve more options. Each OvaScience treatment is based on the Company’s proprietary technology platform that leverages the breakthrough discovery of egg precursor (EggPCSM) cells – immature egg cells found inside the protective ovarian lining. The AUGMENTSM treatment, a fertility option specifically designed to improve egg health, is available in certain IVF clinics in select international regions. OvaScience has commenced a non-commercial preceptorship training program with the OvaPrimeSM treatment, which could increase a woman’s egg reserve, and is developing the OvaTureSM treatment, a potential next-generation IVF treatment that could help a woman produce healthy, young, fertilizable eggs without hormone injections. OvaScience treatments are not available in the U.S. For more information, please visit www.ovascience.com and www.augmenttreatment.com and connect with us on Twitter and Facebook.

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Source: OvaScience

Media and Investor Contact:
OvaScience
Rebecca J. Peterson, 617-420-8736
rpeterson@ovascience.com