Mithra Pharmaceuticals S.A.

Capital/Financing Update • Jun 2, 2022

Exercise of a Call Option from Goldman Sachs and Additional Information on the Financing Strategy

Liege, Belgium, 2 June 2022 – 7:30 CET – Mithra Pharmaceuticals SA (Euronext Brussels: MITRA) (the "Company" or "Mithra"), a company dedicated to Women's Health, today announces that Goldman Sachs International ("GSI") has elected to exercise the last call option in relation to the outstanding drawdown of EUR 5 million, and provides additional information on its financing strategy.

Exercise of a call option from Goldman Sachs

On 25 May 2022, GSI has elected to exercise a call option for an amount of EUR 5 million according to the terms of the equity funding agreement signed on 4 February 2022¹ . This exercise resulted in the issuance of 725,300 shares of the Company. In accordance with article 15 of the Belgian Act of 2 May 2007 on the disclosure of major participations in issuers of which shares are admitted to trading on a regulated market and regarding miscellaneous provisions, following this capital increase's completion, Mithra now has 46,085,634 outstanding shares carrying voting rights (against 45,360,334 outstanding shares carrying voting rights previously). Therefore, Mithra publishes the following updated information:

• Capital: EUR 33,739,072.34
• Total number of securities carrying voting rights: 46,085,634 (all ordinary shares)
• Total number of voting rights (= denominator): 46,085,634 (all relating to ordinary shares)
• Number of outstanding rights to subscribe to securities carrying voting rights:
  • o Pursuant to the share option plan of 5 November 2018: 1,394,900 subscription rights giving right to 1,394,900 ordinary shares
  • o Pursuant to the share option plan of 22 July 2020 : 690,000 subscription rights giving right to 690,000 ordinary shares
  • o Pursuant to the share option plan granted to the lending shareholders of 7 September 2020: 300,000 subscription rights giving right to 300,000 ordinary shares
  • o Pursuant to the share option plan of 20 November 2020: 74,717 subscription rights giving rise to 74,717 ordinary shares

Additional information on the financing strategy

Following the latest exercise of a call option by GSI, there is currently no drawing outstanding under this equity line facility. Hence, the Company has regained access to the LDA Capital commitment, which is still available for an amount of EUR 53 million.

¹ Mithra's press release, 07/02/2022

On top of the two financing lines from GSI and LDA Capital, the Company's management team is currently contemplating additional financing options supported by existing and new investors, that could potentially be implemented in the near and medium term. These financing options could include, among others, dilutive and non-dilutive debt funding, equity based funding, or a combination of these options. If secured, this additional funding would allow the Company to finance its operating expenses and further strengthen its balance sheet, in addition to the backstop facilities with GSI and LDA Capital.

The negotiations around the Donesta® License and Supply Agreement are progressing according to our plans, with a completion of the deal currently estimated at the latest in the fourth quarter of 2022.

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For more information, please contact:

Benoît Mathieu (IRO) : +32 473 35 80 18 - investorrelations@mithra.com Maud Vanderthommen (Press) : +32 473 58 61 04 – press@mithra.com

About Mithra

Mithra (Euronext: MITRA) is a Belgian biotech company dedicated to transforming Women's Health by offering new choices through innovation, with a particular focus on contraception and menopause. Mithra's goal is to develop products offering better efficacy, safety and convenience, meeting women's needs throughout their life span. Mithra explores the potential of the unique native estrogen estetrol in a wide range of applications in women health and beyond. After having successfully launched the first estetrol-based product in 2021, the contraceptive pill Estelle® , Mithra is now focusing on its second product Donesta® , the next-generation hormone therapy. Mithra also develops and manufactures complex therapeutics in the areas of contraception, menopause and hormonedependent cancers. It offers partners a complete spectrum of research, development and specialist manufacturing at its technological platform Mithra CDMO. Active in more than 100 countries around the world, Mithra has an approximate headcount of 300 staff members and is headquartered in Liège, Belgium. www.mithra.com

Important information

The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes", "estimates," "anticipates", "expects", "intends", "may", "will", "plans", "continue", "ongoing", "potential", "predict", "project", "target", "seek" or "should", and include statements the Company makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The Company's actual results may differ materially from those predicted by the forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.

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