Faron Pharmaceuticals Ltd: Grant of Options

Faron Pharmaceuticals OyAnnouncement

Today 07:00

Faron Pharmaceuticals Ltd | Company announcement | December 02, 2025 at
09:00:00 EET

TURKU, FINLAND - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a
clinical-stage biopharmaceutical company focused on tackling cancers via novel
immunotherapies, today announces that the Company’s board has confirmed the
grant of a total of 180,000 options over ordinary shares in the Company
(“Options”) under the Company’s Share Option Plan 2019.

The Options have been allocated under the Share Option Plan 2019 and are
exercisable between 1 December 2026 and 1 December 2031, vesting 25% per annum
over four years. The exercise price for Options allocated under the Share
Option plan is €2.26 per share, which is calculated based on the average price
per share at which the ordinary shares in the Company have been traded on AIM
for 90 days preceding the allocation date of 1 December 2025. The terms of the
Share Option Plan 2019 are available on the Company’s website at
https://faron.com/wp-content/uploads/2025/04/20250321_Share-Option-Plan-2019_Rules_EN_clean.pdf

The granted 180,000 Options entitle the option holders to subscribe for a
total of 180,000 new ordinary shares in the Company, if exercised in full, and
represent 0.16% of the fully diluted ordinary share capital of the Company.

Included in the number of Options granted are the following Options which were
issued to directors, other persons discharging managerial responsibilities
(“PDMRs”) and Company personnel:

+-------------------------------------------+---------------------------------+
|                                           |                                 |
|                                           |                                 |
+-------------------------------------------+---------------------------------+
| Other PDMR                                |                                 |
|                                           |                                 |
+-------------------------------------------+---------------------------------+
| Jurriaan Dekkers                          |                         180,000 |
+-------------------------------------------+---------------------------------+
|                                           |                                 |
|                                           |                                 |
+-------------------------------------------+---------------------------------+
| Total other PDMRs                         |                         180,000 |
+-------------------------------------------+---------------------------------+
|                                           |                                 |
|                                           |                                 |
+-------------------------------------------+---------------------------------+
|                                           |                                 |
|                                           |                                 |
+-------------------------------------------+---------------------------------+

For more information, please contact:

+-------------------------------------+--------------------------------------+
| IR Partners, Finland                |                                      |
| (Media)                             | +358 50 553 9535 / +44 7 469 766 223 |
|                                     |         kare.laukkanen@irpartners.fi |
| Kare Laukkanen                      |                                      |
+-------------------------------------+--------------------------------------+
| FINN Partners, US                   |                     +1 847 791-8085  |
| (Media)                             |        alyssa.paldo@finnpartners.com |
| Alyssa Paldo                        |                                      |
+-------------------------------------+--------------------------------------+
| Cairn Financial Advisers LLP        |                 +44 (0) 207 213 0880 |
| (Nominated Adviser and Broker)      |                                      |
| Sandy Jamieson, Jo Turner           |                                      |
+-------------------------------------+--------------------------------------+
| Sisu Partners Oy                    |                  +358 (0)40 555 4727 |
| (Certified Adviser on Nasdaq First  |                  +358 (0)50 553 8990 |
| North)                              |                                      |
| Juha Karttunen                      |                                      |
| Jukka Järvelä                       |                                      |
+-------------------------------------+--------------------------------------+

About bexmarilimab
Bexmarilimab is Faron’s wholly owned, investigational immunotherapy designed
to overcome resistance to existing treatments and optimize clinical outcomes,
by targeting myeloid cell function and igniting the immune
system. Bexmarilimab binds to Clever-1, an immunosuppressive receptor found on
macrophages leading to tumor growth and metastases (i.e. helps cancer evade
the immune system). By targeting the Clever-1 receptor on
macrophages, bexmarilimab alters the tumor microenvironment, reprogramming
macrophages from an immunosuppressive (M2) state to an immunostimulatory (M1)
one, upregulating interferon production and priming the immune system to
attack tumors and sensitizing cancer cells to standard of care.

About Faron Pharmaceuticals Ltd

Faron (AIM: FARN, First North: FARON) is a global, clinical-stage
biopharmaceutical company, focused on tackling cancers via novel
immunotherapies. Its mission is to bring the promise of immunotherapy to a
broader population by uncovering novel ways to control and harness the power
of the immune system. The company’s lead asset, bexmarilimab, is a novel
macrophage-guiding immunotherapy being investigated in multiple oncology
settings. Further information is available at www.faron.com
(http://www.faron.com/).

+------------+----------------+---------------+--------+---------+--+--+--+--+
|            |                |               |        |         |  |  |  |  |
| Notification |                |               |        |         |  |  |  |  |
| of a       |                |               |        |         |  |  |  |  |
| Transaction |                |               |        |         |  |  |  |  |
| pursuant   |                |               |        |         |  |  |  |  |
| to Article |                |               |        |         |  |  |  |  |
| 19(1) of   |                |               |        |         |  |  |  |  |
| Regulation |                |               |        |         |  |  |  |  |
| (EU) No.   |                |               |        |         |  |  |  |  |
| 596/2014   |                |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| 1          | Details of the |               |        |         |  |  |  |  |
|            | person         |               |        |         |  |  |  |  |
|            | discharging    |               |        |         |  |  |  |  |
|            | managerial     |               |        |         |  |  |  |  |
|            | responsibilities/person |               |        |         |  |  |  |  |
|            | closely        |               |        |         |  |  |  |  |
|            | associated     |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| a.         | Name           | Jurriaan      |        |         |  |  |  |  |
|            |                | Dekkers       |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| 2          | Reason for     |               |        |         |  |  |  |  |
|            | notification   |               |        |         |  |  |  |  |
|            |                |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| a.         |                | Person        |        |         |  |  |  |  |
|            | Position/Status | discharging   |        |         |  |  |  |  |
|            |                | managerial    |        |         |  |  |  |  |
|            |                | responsibilities |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| b.         | Initial        | Initial       |        |         |  |  |  |  |
|            | notification/  | notification  |        |         |  |  |  |  |
|            | Amendment      |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| 3          | Details of the |               |        |         |  |  |  |  |
|            | issuer,        |               |        |         |  |  |  |  |
|            | emission       |               |        |         |  |  |  |  |
|            | allowance      |               |        |         |  |  |  |  |
|            | market         |               |        |         |  |  |  |  |
|            | participant,   |               |        |         |  |  |  |  |
|            | auction        |               |        |         |  |  |  |  |
|            | platform,      |               |        |         |  |  |  |  |
|            | auctioneer or  |               |        |         |  |  |  |  |
|            | auction        |               |        |         |  |  |  |  |
|            | monitor        |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| a.         | Name           | Faron         |        |         |  |  |  |  |
|            |                | Pharmaceuticals |        |         |  |  |  |  |
|            |                | Oy            |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| b.         | LEI            |               |        |         |  |  |  |  |
|            |                | 7437009H31TO1DC0EB42 |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| 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 | Options over  |        |         |  |  |  |  |
|            | the financial  | new ordinary  |        |         |  |  |  |  |
|            | instrument,    | shares        |        |         |  |  |  |  |
|            | type of        |               |        |         |  |  |  |  |
|            | instrument     | ISIN:         |        |         |  |  |  |  |
|            |                | FI4000153309  |        |         |  |  |  |  |
|            | Identification |               |        |         |  |  |  |  |
|            | Code           |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| b.         | Nature of the  | Grant of      |        |         |  |  |  |  |
|            | transaction    | options made  |        |         |  |  |  |  |
|            |                | under the     |        |         |  |  |  |  |
|            |                | Faron Share   |        |         |  |  |  |  |
|            |                | Option Plan   |        |         |  |  |  |  |
|            |                | 2019          |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| c.         | Price(s) and   |               |        |         |  |  |  |  |
|            | volume(s)      |               |        |         |  |  |  |  |
|            |                |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
|            |                |               |        |         |  |  |  |  |
|            |                |               | Price(s) | Volume(s) |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
|            |                |               | €2.26  | 180,000 |  |  |  |  |
|            |                |               |        |         |  |  |  |  |
|            |                |               |        |         |  |  |  |  |
|            |                |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
|            |                |               |        |         |  |  |  |  |
|            |                |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| d.         | Aggregated     |               |        |         |  |  |  |  |
|            | information    |               |        |         |  |  |  |  |
|            |                | Nil           |        |         |  |  |  |  |
|            | - Aggregated   |               |        |         |  |  |  |  |
|            | Volume         |               |        |         |  |  |  |  |
|            |                |               |        |         |  |  |  |  |
|            | - Price        |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| e.         | Date of the    | 2 December    |        |         |  |  |  |  |
|            | transaction    | 2025          |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+
| f.         | Place of the   | Turku         |        |         |  |  |  |  |
|            | transaction    |               |        |         |  |  |  |  |
+------------+----------------+---------------+--------+---------+--+--+--+--+