Full-year 2024 guidance suspended due to the temporary pause of API production at the Brindisi site in Italy

Press Release

Paris – March 14^th, 2024 – EUROAPI today announces that its Italian subsidiary, EUROAPI Italy S.R.L., is suspending the production of all APIs¹ in Brindisi. Following an internal audit, quality control deficiencies due to potential local misconduct have been identified and are being further investigated. Production will remain suspended until further notice. The relevant health authorities have been informed. The company has initiated a forensic audit and will inform its customers.

The Brindisi site produces 11 APIs and intermediates, mostly anti-infectives (including spiramycin, rifaximin, rifampicin and teicoplanin). In 2023, sales related to the Brindisi site amounted to 63 million euros, of which 43% related to Sanofi. The value of Brindisi non-current assets has been fully impaired in 2023 Consolidated Accounts. This situation is expected to impact the Group's operational and financial performance. Consequently, the full-year 2024 guidance is suspended. A revised full-year 2024 outlook will be provided in Q2 2024, along with the planned communication on the implementation and the financing of the FOCUS-27 project announced on February 28^th, 2024.

Conference call today at 07:45 PM CET

EUROAPI management will hold a live audio webcast today at 07:45 PM CET (https://channel.royalcast.com/landingpage/euroapi-eng/20240314_1/). To participate in the Q&A session, please dial in the following numbers:

• France: [phone]
• UK: [phone]
• US: [phone]
  
  

Media Relations contact: Laurence Bollack Tel.: [phone] [e-mail]

Investor Relations contact: Sophie Palliez-Capian Tel.: [phone] [e-mail]   Camile Ricotier Tel : [phone] [e-mail]

Financial Calendar

• March 26^th, 2024: Publication of the 2023 Universal Registration Document
• May 22^nd, 2024: Annual Shareholder General Meeting
• Q2 2024: Further information on FOCUS-27 project
• July 31^st, 2024 (before market opening): H1 2024 Results

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