Financial targets

The Company is currently in the process of assessing and updating its overall commercialization strategy and pipeline and will be providing an update by the end of 2025. However, in the course of its assessment, the Board of Directors of Bioretec has now concluded that the financial targets published on 4 October 2024 are unattainable and will likely not be met. In particular, the Board of Directors of Bioretec deems that the target of reaching net sales of EUR 65 million by the end of the year 2028 will need to be postponed given lengthened FDA-approval timelines, the Company's current financing needs and the strategic readjustment initiatives which are currently pending assessment. While the Board of Directors of the Company believes that the addressable market for the Company's products remains the same, the Company now withdraws its financial targets and will provide an updated commercialization strategy and pipeline along with revised financial targets by the end of 2025.

The previous financial targets, which are now withdrawn, were to:

• Reach net sales of EUR 65 million by the end of the year 2028 and to reach net sales in excess of EUR 100 million by the end of the year 2030.

• Reach positive cash flow from operating activities by the end of the year 2027.