Bavarian Nordic

Declaration of Voting Results & Voting Rights Announcements • Sep 30, 2015

Company Announcement no. 27 / 2015

Total number of voting rights and share capital in Bavarian Nordic A/S

COPENHAGEN, Denmark, September 30, 2015 – Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announces pursuant to section 6 of Executive Order no. 1442 of December 13, 2013 on Issuers' Disclosure Obligations, that the total nominal value of Bavarian Nordic A/S' share capital is DKK 278,343,740 at the end of September 2015, which is made up of 27,834,374 shares of a nominal value of DKK 10 each, corresponding to 27,834,374 votes.

Contacts Rolf Sass Sørensen Vice President Investor Relations (EU) Tel: +45 61 77 47 43

Seth Lewis Vice President Investor Relations (US) Tel: +1 978 341 5271

About Bavarian Nordic

Bavarian Nordic is a biopharmaceutical company focused on the development and manufacturing of cancer immunotherapies and vaccines for infectious diseases. Through a long-standing collaboration with the U.S. Government, Bavarian Nordic has developed a portfolio of biological countermeasures, including the nonreplicating smallpox vaccine, IMVAMUNE® , which is stockpiled for emergency use by the U.S. and other governments. The vaccine is approved in the EU (under the trade name IMVANEX® ) and in Canada. Bavarian Nordic and its partner Janssen are pioneering the development of an Ebola vaccine, which has been fasttracked by authorities in response to the current situation in West Africa. Additionally, in collaboration with the National Cancer Institute, Bavarian Nordic has developed a portfolio of active cancer immunotherapies based on its versatile pox-virus based technologies, including PROSTVAC® , which is currently in Phase 3 clinical development for the treatment of advanced prostate cancer. The company has partnered with Bristol-Myers Squibb for the potential commercialization of PROSTVAC. For more information visit www.bavarian-nordic.com or follow us on Twitter @bavariannordic.

Forward-looking statements

This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.