XBRANE UPDATES ON AMORTIZATION ON CONVERTIBLE BOND

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Xbrane Biopharma AB (publ) (“Xbrane” or the “Company”) announces that the amortization in December 2023 of the convertible bond issued in May 2023 to CVI Investments, Inc. was made in cash.

In May 2023 Xbrane issued a convertible bond with nominal value of SEK 250 million to CVI Investments. The bond is amortized bi-monthly during 4 years at equal installments, and the Company can elect to amortize in shares or cash. Xbrane has historically amortized one time in cash and one time in shares. The amortization which was due beginning of December 2023 has been done in cash and the current outstanding value of the bond is SEK 218 million. The bond runs with an interest rate of six percent until FDA approval of Ximluci® and thereafter the interest rate will be set to zero percent. The conversion price is set at 93 SEK per share.