Bavarian Nordic A/S

Bavarian Nordic Announces Changes to the Board of Directors

COPENHAGEN, Denmark, November 13, 2025 – Bavarian Nordic A/S (OMX: BAVA) announced today that Chair of the Board, Luc Debruyne has decided to step down from the board with immediate effect.

The Board has appointed Vice Chair Anne Louise Eberhard as new Chair of the Board.

“After careful reflection on both the process and the outcome of the recent takeover attempt, I have decided to step down to enable the board of Bavarian Nordic to focus on the company’s next phase of development. I have deep appreciation for the company’s remarkable achievements throughout its transformation in recent years and I take pride in having led the board during such a dynamic and important period. I extend my heartfelt thanks and best wishes to the management team and all employees for their dedication and professionalism as they continue to strengthen the company’s global position,” said Luc Debruyne.

“I want to thank Luc for his leadership and insights, which have been invaluable for Bavarian Nordic’s global development and growth over the past few years. While we acknowledge his decision to step down, the Board believes it is in the best interest of the company and our shareholders to ensure stability and continuity in the governance and leadership of the company. Therefore, I have accepted the role as Chair of the Board and will work with my fellow board members to guide and collaborate with the management in whom we have full confidence in the continued execution of the strategy. Bavarian Nordic has been on a growth trajectory and true transformation over the past years, and we will continue to build on this strong foundation and platform to further grow and develop our business. During the coming months and leading up to the annual general meeting in 2026, the Board welcomes a positive dialog with our shareholders about the future composition of the Board,” said Anne Louise Eberhard.

About Bavarian Nordic
Bavarian Nordic is a global vaccine company with a mission to improve health and save lives through innovative vaccines. We are a preferred supplier of mpox and smallpox vaccines to governments to enhance public health preparedness and have a leading portfolio of travel vaccines. For more information, visit www.bavarian-nordic.com.

Contact investors:
Europe: Disa Tuominen, IR Manager, detu@bavarian-nordic.com
US: Graham Morrell, Gilmartin Group, graham@gilmartinir.com, Tel: +1 781 686 9600

Contact media:
Nicole Seroff, Vice President Corporate Communications, nise@bavarian-nordic.com, Tel: +45 53 88 06 03

Company Announcement no. 43 / 2025

Attachment

• Company Announcement no. 43 / 2025