Mithra Pharmaceuticals S.A.

Share Issue/Capital Change • Oct 30, 2017

PRESS RELEASE – REGULATED INFORMATION

MITHRA ANNOUNCES LAUNCH OF WARRANT EXERCISE PERIOD

Liège, Belgium, 30 October 2017 – Mithra Pharmaceuticals (Euronext Brussels: MITRA), a company specialized in Women's Health, today announces the launch of an exercise period of its warrant plan initiated on 2 March 2015.

The warrant plan issued 1,089 warrants, entitling their holders to subscribe for a total number of 1,796,850 securities carrying voting rights (all ordinary shares), and exercisable in principle as from 1 January 2019. 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.

Based on the information received from warrant holders, Mithra expects to issue a maximum of 724,350 new shares which would result in a total share count of 34,967,081 ordinary shares. The outstanding warrants would remain exercisable as from 1 January 2019.

For more information, please contact:

Investor Relations

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

Consilium Strategic Communication Jonathan Birt, Philippa Gardner, Ivar Milligan, Hendrik Thys mithra@consilium-comms.com +44 2 037 095 700

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 forwardlooking 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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