Bavarian Nordic – Transactions in Connection with Share Buy-Back Program

COPENHAGEN, Denmark, January 12, 2026 – Bavarian Nordic A/S (OMX: BAVA) announces transactions under the share buy-back program launched on January 7, 2026, under which the Company will repurchase shares for an amount up to DKK 150 million in the period from January 7, 2026 to February 13, 2026. The program is executed in accordance with Regulation (EU) No. 596/2014 (as amended) of the European Parliament and of the Council on market abuse and Commission Delegated Regulation (EU) 2016/1052, which together constitute the Safe Harbour Regulation.