DBV Technologies : AGM 2022 – Statutory auditors’ report on the financial statements for the year ended December 31, 2021

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 financial statements December 31, 2021

For the year ended December 31, 2021

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

This report contains 11 pages

reg 7

appx 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 financial statements December 31, 2021

For the year ended December 31, 2021

To the DBV Technologies Shareholder's Meeting,

Opinion

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

In our opinion, the financial statements give a true and fair view of the assets and liabilities and of the financial position of the Company as at December 31, 2021 and of the results of its operations for the year then ended in accordance with French accounting principles.

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 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 financial statements December 31, 2021

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 "Going Concern Principle" to the 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 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 financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on specific items of the 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.

Information given in the management report and in the other documents with respect to the financial position and the financial statements provided to the Shareholders

We have no matters to report as to the fair presentation and the consistency with the financial statements of the information given in the management report of the Board of Directors and in the other documents with respect to the financial position and the financial statements provided to

Shareholders.

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

3

KPMG Audit

Deloitte & Associés

DBV Technologies

Statutory auditors' report on the financial statements December 31, 2021

We attest the fair presentation and the consistency with the financial statements of the information relating to payment deadlines mentioned in Article D.441-6 of the French Commercial Code (Code de commerce).

Information relating to corporate governance

We attest that the section of the management report devoted to corporate governance sets out the information required by Articles L.225-37-4, L22-10-10 and L.22-10-9 of the French Commercial Code.

Concerning the information given in accordance with the requirements of Article L.22-10-9 of the French Commercial Code (code de commerce) relating to remunerations and benefits received by or awarded to the directors and any other commitments made in their favour, we have verified the consistency with the financial statements, or with the underlying information used to prepare these financial statements and, where applicable, with the information obtained by your company from controlled companies included in the scope of consolidation. Based on these procedures, we attest the accuracy and fair presentation of this information.

With respect to the information relating to items that your company considered likely to have an impact in the event of a public takeover bid or exchange offer, provided pursuant to Article L.22-10-11 of the French Commercial Code, we have agreed this information to the source documents communicated to us. Based on these procedures, we have no observations to make on this information.

Other information

In accordance with French law, we have verified that the required information concerning the purchase of investments and controlling interests and the identity of the shareholders and holders of the voting rights has been properly disclosed in the management report.

Report on Other Legal and Regulatory Requirements

Format of presentation of the 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 financial statements 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 Chief Executive Officer, complies with the single electronic format defined in the European Delegated Regulation No 2019/815 of 17 December 2018.

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

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

4

KPMG Audit

Deloitte & Associés

DBV Technologies

Statutory auditors' report on the financial statements December 31, 2021

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 Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with French accounting principles and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the 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 financial statements were approved by the Board of Directors.

Statutory Auditors' Responsibilities for the Audit of the Financial Statements

Objectives and audit approach

Our role is to issue a report on the financial statements. Our objective is to obtain reasonable assurance about whether the 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 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:

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

5