Current report No. 16/2021 – Receipt of notification regarding change in the Company’s shareholding

Date prepared: March 26, 2021

Content of the report:

The Management Board of Celon Pharma S.A. (the “Company”) hereby informs that on March 26, 2021 Generali Powszechne Towarzystwo Emerytalne S.A. notified it of a change in the shareholding in the Company; the notification read as follows:

“With reference to the information obligation arising from Article 69 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies of July 29, 2005 (Journal of Laws of 2019, item 623, as amended), (hereinafter the “Act”), Generali Powszechne Towarzystwo Emerytalne S.A. managing Generali Otwarty Fundusz Emerytalny (hereinafter the “Fund”) with its registered office in Warsaw, ul. Postępu 15B, herby notifies you of the Fund's decrease of its share in the total number of votes in Celon Pharma S.A. (hereinafter referred to as the “Company”) below the threshold of 5% of the total number of votes in that Company.

1. The reduction of the Fund's share in the total number of votes in the Company occurred as a result of a share sale transaction concluded on March 22, 2021.

2. Prior to the change in the shareholding, the Fund held 3,007,549 (say: three million seven thousand five hundred and forty-nine) shares, which represented 6.68% of the Company's share capital and 3,007,549 (say: three million seven thousand five hundred and forty-nine) votes at the Company's General Meeting of Shareholders, representing 5.01% of the total number of votes.

3. After the transaction was settled, the Fund held 2,982,549 (say: two million nine hundred and eighty-two thousand five hundred and forty-nine) shares, representing 6.63% of the Company's share capital and 2,982,549 (say: two million nine hundred and eighty-two thousand five hundred and forty-nine) votes at the Company's General Meeting of Shareholders, representing 4.97% of the total number of votes.

4. There are no subsidiaries of the Fund that hold shares in the Company, nor are there any persons referred to in Article 82 (1)(3)(c) of the Act.

5. The number of votes from shares, calculated in the manner specified in Article 69b (2) of the Act, which the Fund would be authorized or obliged to acquire as a holder of financial instruments referred to in Article 69b (1)(1) of the Act, and financial instruments referred to in Article 69b (1)(2) of the Act, which are not executed exclusively through cash settlement, amounts to zero.

6. The number of votes from shares, calculated in the manner specified in Article 69b (3) of the Act, to which the financial instruments referred to in Article 69b (1)(2) of the Act relate directly or indirectly, amounts to zero.

7. The total number of votes calculated in accordance with Article 69 (4)(9) amounts to 2,982,549 (say: two million nine hundred and eighty-two thousand five hundred and forty-nine), which constitutes a 4.97% of share in the total number of votes.”.