Mithra Pharmaceuticals S.A.

Share Issue/Capital Change • Mar 21, 2022

Exercise of a Second Drawing Request under Equity Funding Agreement with Goldman Sachs

Information on the Total Number of Voting Rights (denominator) following Exercise of a Call Option from Goldman Sachs

Liege, Belgium, 21 March 2022 – 17:45 CET – Mithra Pharmaceuticals SA (Euronext Brussels: MITRA) (the "Company" or "Mithra"), a company dedicated to Women's Health, today announces that it has exercised a second drawing request for an amount of EUR 5 million, according to the terms of the equity funding agreement signed with Goldman Sachs International ("GSI") on February 4, 2022¹ .

Under the terms of this agreement, the Company can at its sole discretion require GSI to provide funding to the Company for an aggregate amount of up to EUR 100,000,000 in return for issuing GSI with call options over the Company's ordinary shares. The first drawing request, exercised on 4 February 2022, amounted to EUR 10 million. The maximum amount that can be drawn by the Company on each subsequent occasion will be EUR 5 million or, if certain conditions are satisfied, up to EUR 7.5 million.

Exercise of call option from GSI

Further to Mithra's first drawing request, GSI has elected to exercise a call option for an amount of EUR 5 million. This call option will result in the issuance of 377,198 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 44,870,648 outstanding shares carrying voting rights (against 44,493,450 outstanding shares carrying voting rights previously). Therefore, Mithra publishes the following updated information:

• Capital: EUR 32,849,581.09
• Total number of securities carrying voting rights: 44,870,648 (all ordinary shares)
• Total number of voting rights (= denominator): 44,870,648 (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

¹ Mithra's press release, 07/02/2022

o Pursuant to the share option plan of 20 November 2020: 74,717 subscription rights giving rise to 74,717 ordinary shares.

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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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