Mithra Pharmaceuticals S A : Conversion of a portion of the loans from Highbridge and Whitebox

27-09-2022	PRESS RELEASE
	Regulated information

Conversion of a portion of the loans from Highbridge and Whitebox and

Information on the total number of voting rights (denominator)

Liege, Belgium, 27 September 2022 - 17:45 CET - Mithra Pharmaceuticals SA (Euronext Brussels: MITRA) (the "Company" or "Mithra"), a company dedicated to Women's Health, today announces that, following the first drawdown by the Company under the loan facility concluded with funds managed by Highbridge Capital Management, LLC ("Highbridge") and funds managed by Whitebox Advisors, LLC ("Whitebox", and together with Highbridge, each a "Lender"), another portion of the loans was contributed in kind by Whitebox against the issuance of new shares.

Following the first drawdown, another portion of the loans (including accrued interest, as relevant, and an option payment amount) was contributed in kind for an aggregate amount of EUR 438,544.36 through the issuance of 73,972 new shares at an issue price of ca. EUR 5.78 per share. A material error of EUR 11,148.35 has been recorded in the notarial deed and will be corrected in the next conversion deed.

On 8th August 2022, the Company and the Lenders entered into a three-year term senior secured convertible facilities agreement for an amount of up to EUR 100,000,000, which can be drawn in three tranches. The first tranche of EUR 50,000,000 was drawn upon signing of the agreement. Following the last contribution in kind, the outstanding principal amount of the loans already drawn is EUR 35,169,161.29.

In accordance with article 15 of the Belgian Act of 2 May 2007 on the disclosure of major participations in issuers of which shares are admitted to trading on a regulated market and regarding miscellaneous provisions, following this capital increase's completion Mithra now has 53,356,194 outstanding shares carrying voting rights (against 53,282,222 outstanding shares carrying voting rights previously).

Therefore, Mithra publishes the following updated information:

• Capital: EUR 39,061,849.33
• Total number of securities carrying voting rights: 53,356,194 (all ordinary shares)
• Total number of voting rights (= denominator): 53,356,194 (all relating to ordinary shares)
• Number of outstanding rights to subscribe to securities carrying voting rights:

1. Pursuant to the share option plan of 5 November 2018: 1,394,900 subscription rights giving right to 1,394,900 ordinary shares

1. Pursuant to the share option plan of 22 July 2020: 690,000 subscription rights giving right to 690,000 ordinary shares

1. Pursuant to the share option plan granted to the lending shareholders of 7 September 2020: 300,000 subscription rights giving right to 300,000 ordinary shares

1. Pursuant to the share option plan of 20 November 2020: 390,717 subscription rights giving rise to 390,717 ordinary shares.

investors.mithra.com • 1

27-09-2022	PRESS RELEASE
	Regulated information

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For more information, please contact:

Benoît Mathieu (IRO) : [phone] [e-mail]

Maud Vanderthommen (Press) : [phone] [e-mail]

About Mithra

Mithra (Euronext: MITRA) is a Belgian biotech company dedicated to transforming Women's Health by offering new choices through innovation, with a particular focus on contraception and menopause. Mithra's goal is to develop products offering better efficacy, safety and convenience, meeting women's needs throughout their life span. Mithra explores the potential of the unique native estrogen estetrol in a wide range of applications in women health and beyond. After having successfully launched the first estetrol-based product in 2021, the contraceptive pill Estelle®, Mithra is now focusing on its second product Donesta®, the next-generation hormone therapy. Mithra also develops and manufactures complex therapeutics in the areas of contraception, menopause and hormone- dependent cancers. It offers partners a complete spectrum of research, development and specialist manufacturing at its technological platform Mithra CDMO. Active in more than 100 countries around the world, Mithra has an approximate headcount of 300 staff members and is headquartered in Liège, Belgium. www.mithra.com

Important information

The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes", "estimates," "anticipates", "expects", "intends", "may", "will", "plans", "continue", "ongoing", "potential", "predict", "project", "target", "seek" or "should", and include statements the Company makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The Company's actual results may differ materially from those predicted by the forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.

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