Addex Enters into At-The-Market ADS Offering Agreement with H.C. Wainwright & Co. LLC.

Ad Hoc Announcement Pursuant to Art. 53 LR

Geneva, Switzerland, January 31, 2024 – Addex Therapeutics (SIX: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, announced today that the company has entered into an At The Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (“H.C. Wainwright”) with respect to an at-the-market offering program under which the Company may offer and sell, from time to time at its sole discretion, ADSs having an aggregate offering price of up to $2.1 million through H.C. Wainwright as its sales agent. The issuance and sale, if any, of the ADSs by the Company under the ATM Agreement will be made pursuant to the Company’s effective registration statement on Form F-3 (Registration Statement No. 333-255089).

H.C. Wainwright may sell the ADSs by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) of the Securities Act of 1933, as amended, including, without limitation, sales made through The Nasdaq Capital Market or on any other existing trading market for the ADSs. H.C. Wainwright will use commercially reasonable efforts to sell the ADSs from time to time, based upon instructions from the Company (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company will pay H.C. Wainwright a commission equal to three percent (3.0%) of the gross sales proceeds of any ADSs sold through H.C. Wainwright under the ATM Agreement, and also has provided H.C. Wainwright with customary indemnification and contribution rights.

The Company is not obligated to make any sales of ADSs under the ATM Agreement. The Company or H.C. Wainwright may suspend or terminate the offering of ADSs upon notice to the other party and subject to other conditions. H.C. Wainwright will act as the sales agent on a commercially reasonable efforts basis consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of the Nasdaq Stock Market.

The foregoing description of the ATM Agreement is not complete and is qualified in its entirety by reference to the full text of the ATM Agreement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No sales of securities are being made under the ATM in Switzerland.