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May 10, 2023

Announcement no. 31

Consolidated interim report 1 January – 31 March 2023

Key points (Q1 2023)

The transaction with Reponex Pharmaceuticals A/S

On 10 May 2023, the Board of Directors and Executive Management of Pharma Equity Group A/S ("PEG" or "the Group") have considered and approved the reviewed consolidated interim report for the period 1 January – 31 March 2023, which has been subject to review performed by the Company’s independent auditor. The comparative figures for 1 January – 31 March 2022 have neither been audited nor reviewed.

The transaction between Pharma Equity Group A/S and Reponex Pharmaceuticals A/S ("Reponex") became final on 28 March 2023. This is PEG’s first investment in Biotech companies and PEG is the first Danish biotech company in several years to be listed on Nasdaq Copenhagen main market stock exchange.

As a result of the transaction in Q1 2023, a legal group has been established with PEG as the legal parent, and Reponex as a 100% owned subsidiary, and hence PEG is required to publish consolidated financial statements for the first time from 2023. As further described in the Q1 interim report, the consolidated financial statements have been prepared applying the rules for reverse take-over where Reponex has been identified as the acquirer for accounting purposes.

About Reponex Pharmaceuticals

Reponex is a Danish biopharmaceutical company with a pipeline based on the innovative thinking of Danish clinicians, and the clinical development takes place in close collaboration with public research institutions and university hospitals in Denmark.

Reponex has six promising drug candidates under clinical development and testing in four areas, each of which is characterized by a great need for treatment, where Reponex is currently expected to offer better and/or cheaper treatments:

• Prevention of colon and rectal cancer and prevention of metastases

• Prevention and treatment of bacterial peritonitis

• Alleviation of the symptoms of the inflammatory disorders Crohn's disease and pouchitis

• Treatment of chronic wounds and infected chronic wounds

Reponex's repositioning strategy and model make it possible to meet the treatment needs of patients faster than with conventional drug development, and at the same time the total development costs and risks associated with drug development are significantly lower. With its listing, PEG can attract the investors needed to realize the great potential of the business model and to get the individual drug candidates all the way to the patients, where they can make a difference.