Pixium Vision

Share Issue/Capital Change • Nov 22, 2020

Shareholder structure of Pixium Vision following the capital increase with pre-emptive subscription rights of €7.3 million (after correction of a technical error reflected in the press releases of 6 and 15 July 2020)

Paris, November 22, 2020 - 07.00 CET - Pixium Vision (Euronext Growth Paris - FR0011950641 - ALPIX) ("Pixium Vision" or the "Company"), a bioelectronics company that develops innovative bionic vision systems to enable patients with vision loss to lead more independent lives, hereby gives notice that, on this date, it was informed by Sofinnova Capital VII of a correction to the 15% threshold-crossing declaration it had submitted on 10 July 2020. That declaration was made following the €7.3 million capital increase with pre-emptive subscription rights that Pixium Vision carried out on 8 July 2020, which resulted in the issuance of a total of 14,684,919 new shares at a price of €0.50 (the "Capital Increase").¹

Due to a technical error by Sofinnova Capital VII's custodian (OST department – Securities transactions) in processing its request, Sofinnova Capital VII's request to subscribe for 2,600,000 new shares to be issued in connection with the Capital Increase at the subscription price of €0.50, which corresponded to its subscription commitment of €1,300,000, was only partially taken into account. As a result, in connection with the Capital Increase, Sofinnova Capital VII was allotted 1,500,000 new shares, instead of the 2,600,000 new shares it had requested. This error in processing Sofinnova Capital VII's request had no consequence on the total number of shares the Company created in connection with the Capital Increase, which remained at 14,684,919 new shares. The balance of the shares not subscribed by Sofinnova Capital VII was automatically allotted to other free float subscribers.

The table below presents, to the best of the Company's knowledge, the distribution of the Company's capital after the Capital Increase of 8 July 2020, and after the correction based on the number of shares actually allotted to Sofinnova Capital VII:

¹ Press releases of 12 June and 6 July 2020

	Before completion of the Capital Increase		After completion of the Capital Increase (at 8 July 2020)
	Theoretical number of shares and voting rights	Theoretical % of share capital and voting rights	Theoretical number of shares and voting rights	Theoretical % of share capital and voting rights
Sofinnova Capital VII	4,037,048	14.91%	5,537,048	13.26%
Innobio	2,134,094	7.88%	2,134,094	5.11%
Bpifrance Participations	1,416,250	5.23%	4,016,250	9.62%
Total Bpifrance1	3,550,344	13.11%	6,150,344	14.73%
Abingworth Holdings Sàrl	2,086,720	7.71%	2,086,720	5.00%
Omnes Capital concert	1,436,794	5.31%	1,436,794	3.44%
Bernard Gilly	159.236	0.59%	159.236	0.38%
Treasury shares	83.575 (1)	0.31%	$79.147^{(2)}$	0.19%
Free float	15,721,685	58.07%	26,311,032	63.00%
TOTAL	27,075,402	100%	41,760,321	100%

(1) Non-voting treasury shares held by the Company at 31 May 2020.

(2) Non-voting treasury shares held by the Company at 30 June 2020.

At 31 October 2020, and taking into account the 43,616,338 shares that comprise the share capital at that date, the distribution of Pixium Vision's share capital is shown below, based on the number of shares actually allotted to Sofinnova Capital VII:

	At 31 October 2020
	Theoretical number of shares and voting rights	Theoretical % of share capital and voting rights	Voting rights exercisable in GM	% of voting rights exercisable in GM
Sofinnova Capital VII	5,537,048	12.69%	5,537,048	12.72%
Innobio	2,134,094	4.89%	2,134,094	4.90%
Bpifrance Participations	4,016,250	9.21%	4,016,250	$9.22\%$
Total Bpifrance (1)	6,150,344	14.10%	6,150,344	14.13%
Abingworth Holdings Sàrl	2,086,720	4.78%	2,086,720	4.79%
Omnes Capital concert	1,436,794	3.29%	1,436,794	3.30%
Bernard Gilly	159,236	0.37%	159,236	0.37%
Treasury shares (2)	78.879	0.18%	0	$0.00\%$
Free float	28, 167, 317	64.58%	28, 167, 317	64.70%
TOTAL	43,616,338	100.00%	43,537,459	100.00%

(1) Innobio and Bpifrance Participations do not act in concert.

(2) At 31 October 2020

^<sup>1 Innobio and Bpifrance Participations do not act in concert.