Bavarian Nordic A/S

Capital Increase in Bavarian Nordic A/S as a Result of Employee Warrant Exercise

COPENHAGEN, Denmark, September 4, 2026 – Bavarian Nordic A/S (OMX: BAVA) announced today that the Company's share capital has been increased by nominally DKK 285,900 as a consequence of employees’ exercise of warrants.

The capital increase was effected without any pre-emption rights for the existing shareholders of the Company or others. A total of 28,590 new shares were subscribed for in cash at DKK 190.11 per share of nominally DKK 10. The total proceeds to Bavarian Nordic A/S from the capital increase amounts to DKK 5.4 million.

The new shares, which will rank pari passu in all respects with existing Bavarian Nordic shares, will be admitted to trading and official listing on Nasdaq Copenhagen as soon as possible.

After the capital increase, the total nominal value of Bavarian Nordic A/S' share capital is DKK 792,653,180, which is made up of 79,265,318 shares of a nominal value of DKK 10 each, corresponding to 79,265,318 votes.

The revised Articles of Association will be published shortly on the Company's website.

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:
Anders Hjort, Head of Investor Relations, ahjo@bavarian-nordic.com, Tel: +45 44 74 99 58
Graham Morrell, Gilmartin Group, graham@gilmartinir.com, Tel: +1 781 686 9600

Contact media:
Isabel Hagbrink, Head of Media Relations, isha@bavarian-nordic.com, Tel: +45 71 79 67 33

Company Announcement no. 39 / 2026

Attachment

• Capital Increase in Bavarian Nordic A/S as a Result of Employee Warrant Exercise