COPENHAGEN, Denmark, June 18, 2025 – Bavarian Nordic A/S (OMX: BAVA) announced today that it has entered into an agreement to sell its Priority Review Voucher (PRV) for a total cash consideration of USD 160 million.

Bavarian Nordic was awarded the PRV in February 2025, following the approval by the U.S. Food and Drug Administration of the chikungunya vaccine, VIMKUNYA™ for prevention of disease caused by chikungunya virus in people 12 years of age and older.

Pursuant to a license agreement assumed upon acquisition of the chikungunya vaccine in 2023, National Institutes of Health (NIH) will receive 20% of the gross proceeds from the sale of the PRV.

The proceeds will be recognized as other operating income and thus will not impact the guided revenue expectations for 2025. However, EBITDA will be positively impacted and any impact on the guided EBITDA margin of 26-30% for 2025 will be updated upon closing of the transaction.

The transaction remains subject to customary closing conditions, including anti-trust review, which is expected to occur in the third quarter of 2025.

Jefferies LLC acted as exclusive financial advisor to Bavarian Nordic on this transaction.

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

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.

Contact investors:
Europe: Rolf Sass Sørensen, Vice President Investor Relations, rss@bavarian-nordic.com, Tel: +45 61 77 47 43
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. 18 / 2025