DBV Technologies : AGM 2022 – Statutory auditors’ report on the consolidated financial statements

Deloitte & Associés
KPMG Audit
Tour EQHO	Tour Majunga
2 Avenue Gambetta	6 place de la Pyramide
CS 60055	92908 Paris la Défense Cedex
92066 Paris la Défense Cedex
France

DBV Technologies

Statutory auditors' report on the consolidated financial statements

For the year ended December 31, 2021

DBV Technologies 177-181, avenue Pierre Brossolette. 92120 Montrouge

This report contains 9 pages reappx 0

Headquarters:
Société anonyme d'expertise	KPMG S.A.
comptable et de commissariat	Tour Eqho
aux comptes à directoire et	2 avenue Gambetta
conseil de surveillance.	92066 Paris la Défense Cedex
Inscrite au Tableau de l'Ordre	Capital : 5 497 100 €.
à Paris sous le n° 14-30080101	Code APE 6920Z
et à la Compagnie Régionale	775 726 417 R.C.S. Nanterre
des Commissaires aux Comptes	TVA Union Européenne
de Versailles et du Centre	FR 77 775 726 417

Deloitte & Associés
KPMG Audit
Tour EQHO	Tour Majunga
2 Avenue Gambetta	6 place de la Pyramide
CS 60055	92908 Paris la Défense Cedex
92066 Paris la Défense Cedex
France

This is a translation into English of the statutory auditors' report on the financial statements of the Company issued in French and it is provided solely for the convenience of English speaking users.

This statutory auditors' report includes information required by European regulation and French law, such as information about the appointment of the statutory auditors or verification of the management report and other documents provided to shareholders.

This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France.

DBV Technologies

Registered office: 177-181, avenue Pierre Brossolette. 92120 Montrouge

Statutory auditors' report on the consolidated financial statements

For the year ended December 31, 2021

To the DBV Technologies Shareholders' Meeting

Opinion

In compliance with the engagement entrusted to us by your annual general meeting, we have audited the accompanying consolidated financial statements of DBV Technologies for the year ended December 31, 2021.

In our opinion, the consolidated financial statements give a true and fair view of the assets and liabilities and of the financial position of the Group as at December 31, 2021 and of the results of its operations for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union.

The audit opinion expressed above is consistent with our report to the Audit Committee.

Basis for Opinion

Audit Framework

We conducted our audit in accordance with professional standards applicable in France. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Our responsibilities under those standards are further described in the Statutory Auditors' Responsibilities for the Audit of the Consolidated Financial Statements section of our report.

Independence

We conducted our audit engagement in compliance with independence requirements of the French Commercial Code (code de commerce) and the French Code of Ethics (code de déontologie) for statutory auditors for the period from January 1, 2021 to the date of our report

Headquarters:

Société anonyme d'expertise	KPMG S.A.
comptable et de commissariat	Tour Eqho
aux comptes à directoire et	2 avenue Gambetta
conseil de surveillance.	92066 Paris la Défense Cedex
Inscrite au Tableau de l'Ordre	Capital : 5 497 100 €.
à Paris sous le n° 14-30080101	Code APE 6920Z
et à la Compagnie Régionale	775 726 417 R.C.S. Nanterre
des Commissaires aux Comptes	TVA Union Européenne
de Versailles et du Centre	FR 77 775 726 417

KPMG Audit

Deloitte & Associés

DBV Technologies

Statutory auditors' report on the consolidated financial statements

and specifically we did not provide any prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014.

Material Uncertainty Related to Going Concern

We draw attention to Note 3 to the consolidated financial statements which describes the material uncertainty resulting from events or conditions that may cast significant doubt on the

Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Justification of Assessments - Key Audit Matters

Due to the global crisis related to the Covid-19 pandemic, the financial statements of this period have been prepared and audited under specific conditions. Indeed, this crisis and the exceptional measures taken in the context of the state of sanitary emergency have had numerous consequences for companies, particularly on their operations and their financing, and have led to greater uncertainties on their future prospects. Those measures, such as travel restrictions and remote working, have also had an impact on the companies' internal organization and the performance of the audits.

It is in this complex and evolving context that, in accordance with the requirements of Articles L.823-9 and R.823-7 of the French Commercial Code (code de commerce) relating to the justification of our assessments, and in addition to the matter described in the Material Uncertainty Related to Going Concern section, we inform you of the key audit matters relating to risks of material misstatement that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period, as well as how we addressed those risks.

These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on specific items of the consolidated financial statements.

We determined that there was no key audit matter to communicate in our report.

Specific Verifications

We have also performed, in accordance with professional standards applicable in France, the specific verifications required by laws and regulations of the Group's information given in the management report of the Board of Directors.

We have no matters to report as to its fair presentation and its consistency with the consolidated financial statements.

xxx-xxx - For the year ended December 31, 2021

3

KPMG Audit

Deloitte & Associés

DBV Technologies

Statutory auditors' report on the consolidated financial statements

Report on Other Legal and Regulatory Requirements

Format of presentation of the consolidated financial statements included in the annual financial report

We have also verified, in accordance with the professional standard applicable in France relating to the procedures performed by the statutory auditor relating to the annual and consolidated financial statements presented in the European single electronic format, that the presentation of the consolidated financial statements intended to be included in the annual financial report mentioned in Article L.451-1-2, I of the French Monetary and Financial Code (code monétaire et financier), prepared under the responsibility of the Chief Executive Officer, complies with the single electronic format defined in the European Delegated Regulation N° 2019/815 of 17 Decembre 2018. As it relates to consolidated financial statements, our work includes verifying that the tagging of these consolidated financial statements complies with the format defined in the above delegated regulation.

Based on the work we have performed, we conclude that the presentation of the consolidated financial statements intended to be included in the annual financial report complies, in all material respects, with the European single electronic format.

Appointment of the Statutory Auditors

We were appointed as statutory auditors of DBV Technologies's annual general meetings held on April 20, 2020 for KPMG S.A. and on December 9, 2011 for Deloitte & Associés.

As at December 31, 2021, KPMG S.A. and Deloitte & Associés were in the 2nd year and 11th year of total uninterrupted engagement, which are the 2nd year and 10th year since securities of the Company were admitted to trading on a regulated market, respectively.

Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the European Union and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless it is expected to liquidate the Company or to cease operations.

The Audit Committee is responsible for monitoring the financial reporting process and the effectiveness of internal control and risks management systems and where applicable, its internal audit, regarding the accounting and financial reporting procedures.

The consolidated financial statements were approved by the Board of Directors.

xxx-xxx - For the year ended December 31, 2021

4

KPMG Audit

Deloitte & Associés

DBV Technologies

Statutory auditors' report on the consolidated financial statements

Statutory Auditors' Responsibilities for the Audit of the Consolidated Financial Statements

Objectives and audit approach

Our role is to issue a report on the consolidated financial statements. Our objective is to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with professional standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As specified in Article L.823-10-1 of the French Commercial Code (code de commerce), our statutory audit does not include assurance on the viability of the Company or the quality of management of the affairs of the Company.

As part of an audit conducted in accordance with professional standards applicable in France, the statutory auditor exercises professional judgment throughout the audit and furthermore:

• • Identifies and assesses the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, designs and performs audit procedures responsive to those risks, and obtains audit evidence considered to be sufficient and appropriate to provide a basis for his opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• • Obtains an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• • Evaluates the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management in the consolidated financial statements.

• • Assesses the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. This assessment is based on the audit evidence obtained up to the date of his audit report. However, future events or conditions may cause the Company to cease to continue as a going concern. If the statutory auditor concludes that a material uncertainty exists, there is a requirement to draw attention in the audit report to the related disclosures in the consolidated financial statements or, if such disclosures are not provided or inadequate, to modify the opinion expressed therein.

xxx-xxx - For the year ended December 31, 2021

5