Mithra Pharmaceuticals S.A.

Share Issue/Capital Change • Dec 4, 2017

PRESS RELEASE – REGULATED INFORMATION

MITHRA CONFIRMS CONVERSION OF SUBSCRIPTION RIGHTS

Liège, Belgium, 29 November 2017 - 18:00 – Regulated Information – Following press release issued on 30 October 2017, Mithra (Euronext Brussels: MITRA) today confirms, in conformity with Title II of the Law of 2 May 2007 and the Royal Decree of 14 February 2008, that an additional 724,350 ordinary shares have been issued by the Company for an amount of EUR 2,478,594 as the result of the exercise of 439 subscription rights (warrants).

As a result of the transaction, Mithra now has 34,967,081 outstanding shares carrying voting rights.

As part of its warrant plan initiated on 2 March 2015, Mithra issued a total of 1089 warrants, entitling their holders to subscribe for a total number of 1,796,850 securities carrying voting rights (all ordinary shares). Pursuant to the conditions of the warrant plan, the current warrant exercise is triggered by the capital increase by way of a Private Placement executed on June 23, 2017, and approved by Mithra's Board of Directors. The outstanding warrants remain exercisable as from 1 January 2019.

Therefore, Mithra publishes the updated following information :

• Share capital: €25,599,286.41
• Total number of securities carrying voting rights: 34,967,081 (all ordinary shares)
• Total number of voting rights (= denominator): 34,967,081 (all relating to ordinary shares)
• Number of rights to subscribe securities carrying voting rights not yet issued: 650 warrants issues on 2 March 2015, entitling their holders to subscribe for a total number of 1,072,500 securities carrying voting rights (all ordinary shares)

*********

For more information, please contact:

Investor Relations

Sofie Van Gijsel, IRO +32 485 19 14 15 investorrelations@mithra.com svangijsel@mithra.com

Press

Julie Dessart Chief Communication Officer +32 4 349 28 22 / +32 475 86 41 75

press@mithra.com

About Mithra

Mithra (Euronext: MITRA) is dedicated to providing innovation and choice in Women's Health, with a particular focus on fertility, contraception and menopause. Mithra's goal is to develop new and improved products that meet women's needs for better safety and convenience. Its two lead development candidates – a fifth generation oral contraceptive Estelle® and next-generation hormone therapy Donesta® - are built on Mithra's unique natural estrogen platform, E4 (Estetrol). Mithra also develops, manufactures and markets complex therapeutics and offers partners a complete spectrum of research, development and specialist manufacturing at its CDMO.

Mithra was founded in 1999 as a spin-off from the University of Liège by Mr. François Fornieri and Prof. Dr. Jean-Michel Foidart. Mithra is headquartered in Liège, Belgium. Further information can be found at: www.mithra.com

Important information

The contents of this announcement include statements that are, or may be deemed to be, "forwardlooking 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.

To subscribe to Mithra's mailing list, visit investors.mithra.com