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

COPENHAGEN, Denmark, May 21, 2024 – Bavarian Nordic A/S (OMX: BAVA) announces that the share buy-back program, which was announced and initiated on May 8, 2024, 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 162,288 shares, cf. the table below:

Transaction date	Number of shares	Average purchase price, DKK	Transaction Value, DKK
May 8, 2024	25,000	158.74	3,968,500
May 13, 2024	25,000	163.93	4,098,250
May 14, 2024	25,000	167.74	4,193,500
May 15, 2024	35,000	169.76	5,941,600
May 16, 2024	15,000	173.86	2,607,900
May 17, 2024	13,000	179,57	2,334,410
May 21, 2024	24,288	175.77	4,269,102
Accumulated under the program	162,288	168.92	27,413,262

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 288,222 own shares, corresponding to 0.37%% of the share capital. The total amount of shares in the company is 78,097,834 including treasury shares.

About Bavarian NordicBavarian Nordic is a fully integrated vaccine company with a mission to protect and save lives through innovative vaccines. We are a global leader in smallpox and mpox vaccines, supplied to governments to enhance public health preparedness and have a strong portfolio of vaccines for travelers and endemic diseases. 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.

ContactsEurope: Rolf Sass Sørensen, Vice President Investor Relations, rss@bavarian-nordic.com, Tel: +45 61 77 47 44 US: Graham Morrell, graham@paddockcircle.com, Tel: +1 781 686 9600

Company Announcement no. 15 / 2024

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