Pharma Mar S A : On business and financial situation

Spanish National Securities Market Commission (CNMV) Attn: Markets Directorate General c/ Edison núm. 4

28006 Madrid

Madrid, February 26, 2021

In accordance with article 227 of the recast Spanish Securities Market Act (texto refundido de la Ley del Mercado de Valores), is hereby reported the following:

OTHER RELEVANT INFORMATION

The Board of Directors of Pharma Mar, S.A., at its meeting held today, has adopted, among others, the following resolutions and decisions:

1.

To draw up and subscribe the Annual Financial Statements (Balance Sheet, Profit and Loss Account, Statement of Changes in Net Equity and Cash Flow Statement, and Annual Report) and Management Report for fiscal year ended on December 31, 2020, both of Pharma Mar, S.A. and its Consolidated Group, as well as the separate report on the status of consolidated non-financial information for the fiscal year 2020, referred to in article 49.7 of the Commercial Code, which forms part of the Management Report.

2. To propose the distribution to the shareholders, subject to the approval of the General

Shareholders Meeting, of a dividend charged to the profit of the fiscal year ended on December 31, 2020 in relation to the individual accounts of Pharma Mar, S.A, for a cash amount of EUR 0.60 gross per share of Pharma Mar, S.A. entitled to receive it, deducting withholding tax applicable at the time of payment of said amount.

• 3. To approve and publish the Annual Corporate Governance Report and the Annual Report on

• director's remunerations, in both cases, for the year ended December 31, 2020.

• 4. To call the Ordinary General Shareholders' Meeting to be held at the registered offices located in Colmenar Viejo (Madrid), Polígono Industrial La Mina, Avenida de los Reyes number 1, on April 15, 2021, at 12:00 p.m. on second call, since it is not foreseeable that the quorum for the first call, which has been set for April 14, 2021 at 12:00 p.m., at the same place, will be met. The resolutions to be dealt with at said General Meeting will be the following:

  I. ITEMS SUBMITTED FOR VOTING

  First.- Annual Financial Statements, allocation of results and corporate management:

  1.1. To review and, as the case may be, approve the Annual Financial Statements and Management Reports of Pharma Mar, S.A. and of its Consolidated Group for the fiscal year ended December 31, 2020.

  1.2. To review and, as the case may be, approve the separate report on the status of consolidated non-financial information for the fiscal year ended December 31, 2020. This report is referred to in section 7 of article 49 of the Commercial Code, which forms part of the Management Report of the Pharma Mar Group.

Pharma Mar S.A.

Avda. de los Reyes, 1

P.I. La Mina

28770 Colmenar Viejo

(Madrid) Spain

www.pharmamar.com

1

1.3. To review and, as the case may be, approve the proposed application of the Company's results for the year ended December 31, 2020.

1.4. To review and, as the case may be, approve the corporate management during the fiscal year 2020.

Second.- To reelect the Statutory Auditors of the Company and its Consolidated Group.

Third.- Amendment of articles 13 and 41 of the Company's Bylaws to reflect the change in the name of the Appointments and Compensation Committee, which is now called the Appointments and Compensation and Sustainability Committee.

Fourth.- Amendment of the Regulations of the General Shareholders' Meeting through the incorporation of a new article 14 bis (Attendance at the General Shareholders' Meeting by telematic means).

Fifth.- Appointment as Director for the statutory period of four years of Mr. Eduardo Serra Rexach. Mr. Eduardo Serra Rexach will have the category of Other External Director.

Sixth.- To authorize the Board of Directors, with express power of substitution, to buyback treasury stock, by the Company and/or by its subsidiary companies under the terms provided by current legislation, with express power to proceed its transfer or amortization with reduction of the share capital number, leaving without effect, in the amount not used, the delegation agreed by the General Shareholders' Meeting of previous year.

Seventh.- Approval of share-based compensation plans for employees and executives of Group companies.

7.1. Approval of a Plan for 2022 for the delivery of free shares of Pharma Mar, S.A. treasury stock to employees and executives of Group companies in order to promote their participation in the share capital and encourage them to remain in the Group.

7.2. Approval of a Long-Term Incentive Plan, consisting of the delivery of shares of Pharma Mar, S.A. to certain executives and key Group employees, linked to the achievement of certain strategic objectives, and delegation to the Board of Directors, with express power of substitution, to implement, develop, formalize and execute that remuneration system.

Eighth.- Modification of Pharma Mar, S.A.'s Directors' Compensation Policy for 2020-2022.

Ninth.- Authorization to the Board of Directors, with express power of substitution, for the creation and endowment of a foundation.

Tenth.- To submit the Annual Report on Compensation of Directors of Pharma Mar, S.A. for fiscal year 2020 to an advisory vote (art. 541.4 of the Spanish Capital Corporations Law).

Eleventh.- To authorize the Board of Directors to interpret, remedy, supplement, implement, execute and develop the resolutions adopted by the General Meeting, both to record such

Pharma Mar S.A.

Avda. de los Reyes, 1

P.I. La Mina

28770 Colmenar Viejo

(Madrid) Spain

www.pharmamar.com

resolutions in a public deed and to substitute the powers entrusted thereto by the General Meeting.

II.

INFORMATIONAL ITEMS

Twelfth.- To report to the General Meeting, in accordance with the provisions of article 528 of the Spanish Capital Corporations Law, regarding any amendments to the Board of Directors Regulations.

The Board of Directors of Pharma Mar, S.A. has empowered its Chairman to determine the date of publication of the notice of call, which is expected to be published in the next few days, at which time the notice and the proposed resolutions to be submitted by the Board to the Meeting will be sent to this Commission and will be made available to the shareholders together with the other mandatory documentation relating to the Meeting.

Furthermore, since the Board of Pharma Mar, S.A. has proposed to the Shareholders' Meeting that Mr. Eduardo Serra Rexach (currently representing EDUARDO SERRA Y ASOCIADOS, S.L. on the Board of Pharma Mar, S.A.) be appointed as an individual Director, EDUARDO SERRA Y ASOCIADOS, S.L. has submitted today a letter of resignation as Director of Pharma Mar, S.A., effective as of the end of the next General Shareholders' Meeting to which this communication refers.

5. Pharma Mar will host a conference call and webcast for investors and analysts on Monday,

March 1st, 2021, at 14:00 CET (08:00 AM, New York time). The numbers to connect to the teleconference are [phone] (from Spain) [phone] (from USA or Canada) and [phone] (other countries). Participants' access code: 008391.

Interested parties can also follow the conference call live via the following link:https://streamstudio.world-television.com/1052-1618-27315/en

The teleconference and the recording of the conference call can be accessed on Pharma Mar's website by visiting the Events Calendar section of the company's website atwww.pharmamar.com

Pharma Mar S.A.

Avda. de los Reyes, 1

P.I. La Mina

28770 Colmenar Viejo

(Madrid) Spain

www.pharmamar.com