Bavarian Nordic

Director's Dealing • Nov 1, 2021

Company Announcement

Report of transactions of shares and related securities of Bavarian Nordic by persons holding managerial responsibilities and/or persons/companies closely associated with such

COPENHAGEN, Denmark, November 1, 2021 – Bavarian Nordic A/S (OMX: BAVA) has today received information about the following transaction of the company's shares/related securities by persons holding managerial responsibilities and/or persons/companies closely associated with such.

The transaction concerns the vesting of restricted stock units, awarded to the Company's Executive Vice President and Chief Financial Officer, Henrik Juuel, as part of a sign-on bonus upon assuming his position on November 1, 2018. The three-year vesting period has now expired, and all conditions for release of the shares, including matching shares, have been met.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Henrik Juuel
2.	Reason for the notification
a)	Position/status	Executive Vice President and Chief Financial Officer of Bavarian Nordic A/S
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bavarian Nordic A/S
b)	LEI	2138006JCDVYIN6INP51
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Shares
	Identification code	DK0015998017
b)	Nature of the transaction	Acquisition of shares (vesting of restricted stock units)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		DKK 82.38	6,400
d)	Aggregated information - Aggregated volume - Price	6,400 DKK 527,232.00
e)	Date of the transaction	2021-11-01
f)	Place of the transaction	Outside a trading venue

About Bavarian Nordic

Bavarian Nordic is a fully integrated vaccines company focused on the development, manufacturing and commercialization of life-saving vaccines. We are a global leader in smallpox vaccines and have been a longterm supplier to the U.S. Government of a non-replicating smallpox vaccine, which has been approved by the FDA, also for the protection against monkeypox. The vaccine is approved as a smallpox vaccine in Europe and Canada. Our commercial product portfolio furthermore contains market-leading vaccines against rabies and tickborne encephalitis. Using our live virus vaccine platform technology, MVA-BN®, we have created a diverse portfolio of proprietary and partnered product candidates designed to save and improve lives by unlocking the power of the immune system, including an Ebola vaccine, which is licensed to the Janssen Pharmaceutical Companies of Johnson & Johnson. We are also committed to the development of a next generation COVID-19 vaccine. For more information visit www.bavarian-nordic.com.

Contacts

Europe: Rolf Sass Sørensen, Vice President Investor Relations, Tel: +45 61 77 47 43 US: Graham Morrell, Paddock Circle Advisors, graham@paddockcircle.com, Tel: +1 781 686 9600

Company Announcement no. 34 / 2021