Current report 29/2021 – adoption of a resolution of the Company’s Management Board on amending the resolution on the share capital increase as part of its authorized capital

Legal basis: Article 56 subs. 1 point 2 of the Act on Public Offering – current and periodical information

Management Board of Celon Pharma S.A. (the "Company") informs that on June 25, 2021 it adopted a resolution on amending the resolution on the share capital increase as part of its authorized capital, announced by the Company in its current report 22/2021 of May 10, 2021.

The resolution adopted by the Extraordinary General Meeting of the Company on February 16, 2021 authorized the Company's Management Board to make one or several increases in the Company's share capital over the course of 3 years by way of issuing up to 15 million new ordinary bearer shares (current report 9/2021) i.e. assumes the Company will obtain the funds to cover its 5-year investment program. The Company's Management Board has decided to issue only 6 million shares and obtain approx. EUR 60 million for the purpose of financing its investment need over the course of the next two years. This is in line with the usual market practice observed in the segment of biotechnological companies.

After the above-mentioned change, pursuant to the resolution of the Management Board on the share capital increase under the authorized capital, the Company's share capital shall be increased by an amount not lower than PLN 0.10 and not exceeding PLN 600.000, whereas the above-mentioned capital share increase will be made by way of issuing between 1 and 6 million D-series bearer shares with the nominal value of PLN 0.10 each. The stipulation of § 8 (1) of the Company’s Articles of Association is amended adequately.

The content of the resolution on amending the resolution on the share capital increase as part of its authorized capital is attached to this current report.

The Company's Management Board points out that information on registration of the relevant changes of the Articles of Association and entering a mention on the authorized capital in the National Court Register (KRS) was published in current reports 20/2021 and 21/2021 on April 12, 2021 and May 6, 2021, respectively.