PHARNEXT: Start of trading of shares resulting from the combination and other capital transactions – 05/10/2023 at 08:30

• Consolidation by way of exchange of 10,000 old shares for 1 new share

• Effective date of the consolidation on Wednesday, May 10, 2023

• Resumption of the right to exercise securities on Wednesday May 10, 2023

• Reduction of share capital to 68,196.50 euros

PARIS, France, May 10, 2023 at 8:30 a.m. (CET) – Pharnext SA (FR001400GUN7 – ALPHA)

(the “Company”), an advanced clinical-stage biopharmaceutical company developing new therapies for neurodegenerative diseases with no satisfactory therapeutic solution, today announces the completion of the reverse stock split, as decided by its Manager on March 17, 2023 and announced on March 24, 2023, at the rate of 1 new share with a par value of 1 euro for 10,000 old shares with a par value of 0.0001 euro, as authorized by the General Meeting of Shareholders of February 24, 2023 under its ninth resolution.

The main characteristics of this grouping are as follows:

• Number of shares subject to consolidation: 6,819,650,000 shares (number of shares adjusted in particular following the exercise of securities giving access to capital prior to the suspension period)

• Number of new shares resulting from the consolidation: 681,965 shares

• ISIN code of the new consolidated shares: FR001400GUN7

• Mnemonic code for consolidated shares: ALPHA

The shareholder who was unable to obtain a number of shares multiple of 10,000 will be compensated for their remaining fractional shares within 30 days by their financial intermediary.

All transactions relating to the business combination will take place on Euronext Paris according to the following indicative timetable:

As a result of the reverse stock split, the exercise parity of stock warrants, business creator share warrants and bonds convertible into Company shares issued by the company is adjusted proportionally. at the par value of the share. These adjustments are applicable from the allocation of the new shares resulting from the consolidation of the Company’s shares.

CAPITAL REDUCTIONS

The Company also carried out two capital reductions motivated by losses, as a result of which the share capital was reduced to 68,196.50 euros and was divided into 681,965 shares with a par value of 0.10 euro each.

About Pharnext

Pharnext is a late-stage biopharmaceutical company developing novel therapies for neurodegenerative diseases that currently have no satisfactory therapeutic solution. Pharnext has a new drug candidate, PXT3003, in development for Charcot-Marie-Tooth disease type 1A (CMT1A), an inherited, rare and debilitating peripheral neuropathy. PXT3003 has orphan drug status in Europe and the United States. In 2018, PXT3003 completed a Phase III clinical study, the PLEO-CMT trial, with encouraging preliminary results. This trial was followed by an open-label extension study, the PLEO-CMT-FU trial, in which 120 patients are still currently continuing treatment with PXT3003. The long-term results suggest a sustained benefit, in terms of tolerance and efficacy, after a total clinical study period of 5 years. A pivotal international Phase III clinical study, the PREMIER trial, is ongoing, in which 387 patients with CMT1A have been enrolled. The first results of the PREMIER trial are expected in the fourth quarter of 2023. PXT3003 was discovered with the R&D approach of Pleotherapy™. Pharnext draws investors’ attention to the risk factors, particularly financial, detailed in its financial reports. More information on

www.pharnext.com

.

Pharnext is listed on the Euronext Growth market in Paris (ISIN code: FR001400GUN7).

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