Report of transactions of shares and related securities of Bavarian Nordic by persons holding managerial responsibilities and/or persons/companies closely associated with such

COPENHAGEN, Denmark, June 12, 2023– Bavarian Nordic A/S (OMX: BAVA) has today received information about the following transactions of the company's shares/related securities by persons holding managerial responsibilities and/or persons/companies closely associated with such.The transactions concern the vesting of restricted stock units (RSUs) awarded to members of the Board of Directors of Bavarian Nordic A/S as part of their remuneration for 2020, and in accordance with the decision by...

COPENHAGEN, Denmark, June 12, 2023 – Bavarian Nordic A/S (OMX: BAVA) has today received information about the following transactions of the company's shares/related securities by persons holding managerial responsibilities and/or persons/companies closely associated with such.

The transactions concern the vesting of restricted stock units (RSUs) awarded to members of the Board of Directors of Bavarian Nordic A/S as part of their remuneration for 2020, and in accordance with the decision by the Annual General Meeting on June 12, 2020. The three-year vesting period has now expired, and all conditions for release of the shares have been met.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Anders Gersel Pedersen
2.	Reason for the notification
a)	Position/status	Deputy Chairman of the Board of Bavarian Nordic A/S
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bavarian Nordic A/S
b)	LEI	2138006JCDVYIN6INP51
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Shares DK0015998017
b)	Nature of the transaction	Acquisition of shares (vesting of restricted stock units)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		DKK 189.74	1,185
d)	Aggregated information Aggregated volume Price	1,185 DKK 225,000.00
e)	Date of the transaction	2023-06-12
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Peter Kürstein
2.	Reason for the notification
a)	Position/status	Member of the Board of Bavarian Nordic A/S
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bavarian Nordic A/S
b)	LEI	2138006JCDVYIN6INP51
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Shares DK0015998017
b)	Nature of the transaction	Acquisition of shares (vesting of restricted stock units)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		DKK 189.74	790
d)	Aggregated information Aggregated volume Price	790 DKK 150,000.00
e)	Date of the transaction	2023-06-12
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Frank Verwiel
2.	Reason for the notification
a)	Position/status	Member of the Board of Bavarian Nordic A/S
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bavarian Nordic A/S
b)	LEI	2138006JCDVYIN6INP51
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Shares DK0015998017
b)	Nature of the transaction	Acquisition of shares (vesting of restricted stock units)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		DKK 189.74	790
d)	Aggregated information Aggregated volume Price	790 DKK 150,000.00
e)	Date of the transaction	2023-06-12
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Anne Louise Eberhard
2.	Reason for the notification
a)	Position/status	Member of the Board of Bavarian Nordic A/S
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bavarian Nordic A/S
b)	LEI	2138006JCDVYIN6INP51
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Shares DK0015998017
b)	Nature of the transaction	Acquisition of shares (vesting of restricted stock units)
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		DKK 189.74	790
d)	Aggregated information Aggregated volume Price	790 DKK 150,000.00
e)	Date of the transaction	2023-06-12
f)	Place of the transaction	Outside a trading venue

About Bavarian Nordic
Bavarian Nordic is a fully integrated vaccines company focused on the research and development, manufacturing and commercialization of life-saving vaccines. We are a global leader in smallpox and mpox vaccines, which have been developed through our long-standing partnership with the U.S. Government to enhance the public health preparedness and have a strong portfolio of vaccines for travelers and endemic diseases. Using our live virus vaccine platform technology, MVA-BN® and in-licensed technologies, we have created a diverse portfolio of proprietary and partnered product candidates designed to save and improve lives by unlocking the power of the immune system. For more information visit www.bavarian-nordic.com.

Contacts
Europe: Rolf Sass Sørensen, Vice President Investor Relations, Tel: +45 61 77 47 43
US: Graham Morrell, Paddock Circle Advisors, graham@paddockcircle.com, Tel: +1 781 686 9600

Company Announcement no. 23 / 2023

Attachment

• 2023-23-en