Basilea announces a conversion price of CHF 62.50 for its New Bonds and the acceptance of tendered Bonds in an aggregated principal amount of approximately CHF 47 million

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

Basel, Switzerland, July 21, 2020

Basilea Pharmaceutica Ltd. ("Basilea" or the "Company") announces that the Joint Global Coordinators successfully completed the placement (the "Delta Placement") of Basilea shares ("Shares") on behalf of buyers of its approximately CHF 97 million senior unsecured convertible bonds due 2027 (the "New Bonds") aiming at hedging the market risk of their position.

The Delta Placement followed the closing of the tender offer period on 16 July 2020 for the partial repurchase of the Company's outstanding convertible bonds due 2022 (ISIN: CH0305398148; SSN: 30'539'814) (the "Repurchase Offer"). The First Results Announcement regarding the Repurchase Offer was published on 17 July 2020.

The Delta Placement resulted in a Reference Price for the New Bonds of CHF 50 and thus a Conversion Price for the New Bonds of CHF 62.50. Therefore, the conditions that (i) the conversion price of the New Bonds shall be at least as set out in the Notice for a Repurchase offer (minimum conversion price) and (ii) the Delta Placement results in a reference price, i.e. the price to which the conversion premium is added to obtain the conversion price, as set out in the Notice for a Repurchase Offer (Delta Placement being successful) are met. Therefore, the results of the Repurchase Offer are as follows (Second Results Announcement):

Number of tendered and accepted Bonds with a principal amount of CHF 5,000 each	9,417
Aggregate principal amount of tendered and accepted Bonds	CHF 47,085,000

As a result, all conditions of the Repurchase Offer in accordance with the terms and conditions set out in the Notice for a Repurchase Offer of 25 June, 2020, have either been met or waived. Likewise, all the conditions of the issue of the New Bonds have been met or waived. Accordingly, the issue size of the New Bonds amounts to CHF 97,085,000.

Settlement of the Repurchase Offer and of the New Bonds is expected to take place on 28 July 2020.

About Basilea

Basilea Pharmaceutica Ltd. is a commercial-stage biopharmaceutical company, focused on the development of products that address the medical challenges in the therapeutic areas of oncology and infectious diseases. With two commercialized drugs, the company is committed to discovering, developing and commercializing innovative pharmaceutical products to meet the medical needs of patients with serious and life-threatening conditions. Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland and listed on the SIX Swiss Exchange (SIX: BSLN). Additional information can be found at Basilea's website www.basilea.com.