Belgium - Mithra Pharmaceuticals SA (the 'Company' or 'Mithra'), a company dedicated to Women's Health (Euronext Brussels: MITRA), today announces that its board of directors has issued, within the framework of the authorized capital, a new share option plan for its personnel, covering 390,717 share options (the '2020 Share Option Plan').

The share options under the 2020 Share Option Plan have a term of ten years (unless contractually reduced in the grant to a selected participant) and can in principle be exercised as of the date of grant of the share options to a selected participant. Each share option gives the right to subscribe for one new Mithra share. The share options will not be listed on any stock market.

The purpose of the 2020 Share Option Plan is to create a share option plan for the members of the personnel of Mithra in accordance with the provisions of the (new) Belgian Companies and Associations Code (the 'BCAC'). The number of share options issued under the 2020 Share Option Plan is the same as the number of share options which have not yet been granted under the '2018 Share Option Plan' which was created in November 2018 in accordance with the provisions of the (old) Belgian Companies Code of 7 May 1999. The board of directors also decided to no longer grant an equal number of outstanding share options under the 2018 Share Option Plan that have not yet been granted to the selected participants of the 2018 Share Option Plan.

The reports prepared by the board of directors and the Company's statutory auditor (in accordance with Article 7:198 juncto Articles 7:180 and 7:191 of the BCAC) in the framework of the creation of the 2020 Share Option Plan are available on the Company's website

Contact:

Alexandra Deschner

Tel: +32 490 58 35 23

Email: investorrelations@mithra.com

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. Its three lead development candidates are built on Mithra's unique native estrogen platform, Estetrol (E4): Estelle, a new era in oral contraception, PeriNesta, the first complete oral treatment targeting perimenopause and 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 250 staff members and is headquartered in Liege, Belgium.

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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