Press release Biocartis Group NV

Announcement regarding Enforcement by Secured Creditors

PRESS RELEASE REGULATED INFORMATION 31 October 2023, 15:30 CET

ANNOUNCEMENT REGARDING ENFORCEMENT BY SECURED CREDITORS

• The Company’s Secured Creditors have enforced their security over the shares of the Biocartis operating subsidiaries
• Enforcement not expected to impact Biocartis's customers, suppliers, partners or employees

Mechelen, Belgium, 31 October 2023 – Biocartis Group NV (the “Company”) (Euronext Brussels: BCART) announces that it has been informed by its Secured Creditors (as defined below) that the previously announced enforcement by its Secured Creditors occurred earlier today. This is in line with the Company's announcement on 26 September 2023.

Pursuant to the enforcement action, all of the shares in Biocartis NV and Biocartis US Inc., the subsidiaries through which Biocartis operates its entire European and US operations, along with substantially all cash in the pledged accounts of, as well as pledged receivables owing to, Biocartis Group NV have been transferred to an unlisted company owned by its former secured Bondholders (as defined below).

Customers, suppliers, partners, employees and trade creditors of Biocartis NV and Biocartis US Inc. are not expected to be impacted by the security enforcement and change in the parent entity.

Following the transfer of substantially all of its assets as a result of the enforcement, Biocartis Group NV is expected to be wound down in an orderly fashion and delisted. Shareholders of Biocartis Group NV will receive no distribution from the security enforcement and are expected to receive nothing at the time of its winding down, and therefore the shares are expected to have a value of zero. For the purpose of liquidation and dissolution of the Company, the Company intends to call for an Extraordinary General Shareholders’ Meeting and to announce next steps. Any remaining non-collateral assets of Biocartis Group NV may be disposed of post-enforcement, although these are not expected to be material.

The interests and claims of the EUR 16 million unsecured 4.00% convertible bonds due 2027 (ISIN BE0002651322) have been automatically written down to zero pursuant to their terms as part of the enforcement.

Future regulatory releases of Biocartis Group NV will be posted on the following website: biocartisgroupnv.be

In the coming days, the former Bondholders of the Company will inject not less than EUR 40 million of equity capital into the new unlisted holding company and its subsidiaries to fund working capital, capital expenditures and investments, and to pay costs and expenses. In conjunction with the enforcement process, the business's debt burden has been reduced by EUR 132 million, allowing it to continue the operations of the former Biocartis group. The new holding company and its subsidiaries will continue to operate under the Biocartis brand, and existing management is expected to continue.