Current report no. 33/2025

Date of preparation: 2025-11-17

Abbreviated name of the issuer MABION S.A.

Subject

Adoption of the Strategy of Mabion S.A. for 2025-2030 anddisclosure of delayed inside information

Legal basis Art. 17(1) MAR - inside information.

Report content:

With reference to current report No. 7/2025 of April23, 2025, regarding the adoption of the Strategy of Mabion S.A. for2025-2030, the Management Board of Mabion S.A. (the "Company," "Mabion")announces that, as a result of a review of the existing assumptions, on14 November 2025, it adopted a resolution on the adoption of the newStrategy of Mabion S.A. for the years 2025-2030 ("Strategy 2025-2030"),and on 17 November 2025, in accordance with the requirement of §22(1)(h)of the Articles of Association of Mabion S.A., a positive opinion wasobtained from the Supervisory Board. Thus, the Strategy 2025-2030 wasformally adopted for implementation.

A presentation of the Strategy of Mabion S.A. for 2025-2030 is attachedto this current report, and below the Company presents a summary of thedevelopment direction adopted by the current Management Board of theCompany.

Mabion S.A. Strategy for 2025-2030

Mission

Mabion accelerates the development and manufacturing of life-changingbiologics, delivering world-class quality and service from our Polishfacility.

Our goal is to bring such life changing medicines to market quickly andsafely driven by science, technology, and partnerships.

Vision

Our aim is to become the most flexible and technologically advancedlarge molecule CDMO for biologics in Europe - synonymous with quality,scientific excellence, reliability of supply and lasting clientrelationships.

In 2025-2030, the Company plans to offer its services as a CDMO,including in development models, as well as to develop innovativeprojects based on its own intellectual property. In the Company'sopinion, a diversified offering will be a factor increasing Mabion'scompetitiveness, as cooperation based on added value and an expandedrange of services will become increasingly important for the market.

The Company's scientific development and anticipation of market needswill be ensured by the establishment of an Advisory Board consisting ofmarket experts and representatives of the scientific community.

Strengthening the recognition of the Mabion brand on the market will beone of the key aspects necessary to realise Mabion's vision as an entityproviding reliable CDMO services and offering its innovative scientificcontribution.

Core values

What characterises Mabion is:

Quality and compliance

-Scientific and technological excellence

-Trusted partnerships

-Agality and speed of action

-Integrity and ethical responsibility

Above all, the Company identifies scientific experience in thedevelopment and production of biological medicines as one of itsstrengths and opportunities. Its technological, equipment and systemassets enable the Company to implement the most commercially attractiveprojects for the development of biosimilars (mAb) and ADC (Antibody-DrugConjugates). The newly appointed Advisory Board will contributeadditional expertise, and the implementation of lean managementsolutions in operational management will enable an increase in plantproductivity.

Pillars of Strategy 2025-2030

Mabion actively responds to market trends and changing customer needs byadapting its offer to current conditions. As a result of an analysiscarried out by the company's new management board, strategic directionsfor the development of Mabion's offer were determined and the pillarsfor the implementation of this vision were defined.

Three strategic pillars for the implementation of Mabion's vision:

1. Technological advancement (pillar 1)

- Development and production of biosimilars (mAb)

- Offering ADC development capabilities through strategic partnerships

2. Operational excellence and optimal scalability (pillar 2)

- Increase total production capacity (DS) by 40-50%

- Increase Overall Equipment Effectiveness (OEE) and reduce key processlead times by 20%

- Strengthening quality performance

3. Talent development and organisational competitiveness (pillar 3)

- Attracting and developing top talents and adapting team qualificationsto market expectations

- Enhance the fast- thinking culture and intuition and experience-driven leadership

- Enhance Mabion brand

Mabion will focus on projects related to the development of cell lines,the development and production of drug substances (DS) and thedevelopment of analytical methods. The market segments that are ofinterest to the Company in terms of projects are biosimilars,antibody-drug conjugates (ADC), bispecific/innovative drugs, highlypotent/precision-handling biologics predominantly for human use. TheCompany plans to reinstate the MabionCD20 project, but in terms of usingCD20 as part of an innovative drug.

The Company will pursue both early-stage and commercial projects.Geographically, Mabion will expand its operations into fast-growingmarkets, including the MENA region and Asia.

Strategic objectives

The following time frame and weighting have been adopted for each typeof project:

- Short-term objectives

Implementation of projects in the biosimilars segment (as a CDMO) andADC (as a CDMO in partnership) - strategic projects

Implementation of projects in the Animal Health products and vaccines -projects of complementary/tactical importance

Establishment of the Mabion Advisory Board

Activities related to enhancing Mabion brand (trade fairs, networking)

- Medium-term objectives

Implementation of projects in the biosimilars segment (as CDMO), ADC (asCDMO in partnership), the MabionCD20 project (as an innovative drug) andprojects related to bispecific drugs - projects of a strategic nature

Implementation of projects in the field of highlypotent/precision-handling biologics and vaccines - projects ofcomplementary/tactical importance

-Long-term objectives

Implementation of projects in the biosimilars segment (as a CDMO) andindependently implemented projects in the ADC segment - strategicprojects

Implementation of projects in the field of highlypotent/precision-handling biologics and vaccines segments - projects ofcomplementary/tactical importance

Financial plan

The implementation of the Strategy 2025-2030 is to be financed fromequity, cash flows, as well as debt and EU grants. According to theadopted assumptions, the implementation of the Strategy 2025-2030 isexpected to result in revenues in 2030 that are 1.5 times higher thanthe average for 2021-2025 (the average for 2021-2025 is over PLN 70million annually), with an EBITDA margin (EBITDA - Earnings BeforeInterest, Taxes, Depreciation and Amortization) of over 30%.

Mabion anticipates achieving EBITDA break-even by year-end 2026.

ESG Strategy

In parallel with the update of the Strategy 2025-2030, the Company alsorevised the existing assumptions of the ESG Strategy for 2025-2027. Inorder to align it with the current Company's business objectives theupdate of the ESG Strategy 2025-2027 is included in the appendix to thiscurrent report.At the same time, the Companyinforms that, pursuant to the provisions of § 22(1)(h) of the Articlesof Association of Mabion S.A., the Supervisory Board of the Company isresponsible for issuing opinions on the Company's long-term strategicplans. Therefore, information about the adoption of the 2025-2030Strategy by the Company's Management Board is being made public pursuantto Article 17(1) and (4) of Regulation (EU) No 596/2014 of the EuropeanParliament and of the Council (EU) No 596/2014 of 16 April 2014 onmarket abuse and repealing Directive 2003/6/EC of the EuropeanParliament and of the Council and Commission Directive 2003/124/EC,2003/125/EC and 2004/72/EC (MAR) was delayed on 14 November 2025 untilthe Company's Supervisory Board issued its opinion.