Bavarian Nordic – Transactions in Connection with Share Buy-Back Program and Termination of Share Buy-Back Program

COPENHAGEN, Denmark, May 17, 2023 – Bavarian Nordic A/S (OMX: BAVA) announces that the share buy-back program, which was announced and initiated on May 9, 2023, has now been terminated, as the intended number of shares under the program has been repurchased. The program was executed in accordance with the provisions of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and supplementing Regulation (EU) 2016/1052 of 8 March 2016, which together constitute the Safe Harbour Regulation. The purpose of the program was to meet the Company’s obligations arising from the share-based incentive program for the Board of Directors and Executive Management.

Under the program Bavarian Nordic A/S has bought back 43,954 shares, cf. the table below:

Transaction date	Number of shares	Average purchase price, DKK	Transaction Value, DKK
May 9, 2023	9,000	190.35	1,713,150
May 10, 2023	6,000	196.85	1,181,100
May 11, 2023	4,500	207.65	934,425
May 12, 2023	4,500	208.92	940,140
May 15, 2023	5,000	208.76	1,043,800
May 16, 2023	7,000	213.22	1,492,540
May 17, 2023	7,954	209.73	1,668,192
Accumulated under the program	43,954	204.15	8,973,347

The details for each transaction made under the share repurchase program have been attached to this announcement.

With the transactions stated above, Bavarian Nordic A/S owns a total of 160,805 own shares, corresponding to 0.21% of the share capital. The total amount of shares in the company is 77,873,061 including treasury shares.

About Bavarian Nordic
Bavarian Nordic is a fully integrated vaccines company focused on the research and development, manufacturing and commercialization of life-saving vaccines. We are a global leader in smallpox and mpox vaccines, which have been developed through our long-standing partnership with the U.S. Government to enhance the public health preparedness and have a strong portfolio of vaccines for travelers and endemic diseases. Using our live virus vaccine platform technology, MVA-BN and in-licensed technologies, we have created a diverse portfolio of proprietary and partnered product candidates designed to save and improve lives by unlocking the power of the immune system. For more information visit www.bavarian-nordic.com.

Forward-looking statements
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.

Contacts
Europe: Rolf Sass Sørensen, Vice President Investor Relations, Tel: [phone]
US: Graham Morrell, Paddock Circle Advisors, [e-mail], Tel: [phone]

Company Announcement no. 20 / 2023

Attachment

• 2023-20-en