Authority for allotment of New Shares

Authority for allotment of up to 610,000,000 New Shares and disapplication of pre-emption rights to facilitate a Potential Equity Raise

Notice of General Meeting to be held on 29 December 2025

12 December 2025 - Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy vaccines, announces that the Board is considering potentially undertaking an equity raise which would be structured by issuing New Shares to new investors and/or existing shareholders in the Company for cash consideration in one or more private placements on a non-pre-emptive basis (the "Potential Equity Raise").

The Potential Equity Raise would be carried out ahead of the potential dual listing of the Company's shares on the Hong Kong Stock Exchange, which was announced on 6 November 2025 and which is expected to occur in the first half of 2026 (the "Hong Kong Listing").

In order to facilitate the Potential Equity Raise and to ensure that it could be swiftly concluded if it progresses, the Board is seeking specific shareholder approval at a general meeting (the "General Meeting") for the allotment and issue of up to 610,000,000 ordinary shares of £0.001 each ("New Shares") (which is approximately 10% of the Company's current issued share capital) in connection with the Potential Equity Raise, on terms that the Board may determine.

In order for the Directors to issue New Shares free of statutory pre-emption rights, such statutory pre-emption rights must be dis-applied. Accordingly, the Board wishes to seek separate authorities to dis-apply pre-emption rights in respect of the allotment of the New Shares pursuant to the Potential Equity Raise.

The General Meeting will be held at the offices of Cooley (UK) LLP, 22 Bishopsgate, London EC2N 4BQ, United Kingdom at 11:00 a.m. (UK time) on 29 December 2025.

At this time, there is no certainty that the Potential Equity Raise will proceed and at this point no investors have entered into any agreements to subscribe for New Shares and the amounts and price of any Potential Equity Raise have not been agreed. To the extent that any money is raised from the Potential Equity Raise, it would be applied towards the Company's stated strategy of developing treatments for grass and peanut allergy patients, and general corporate purposes, including the Company's working capital needs prior to the Hong Kong Listing.

If the authorities sought at the General Meeting in connection with the Potential Equity Raise are approved, the Directors shall have discretion to determine the terms of the Potential Equity Raise, including the number of New Shares to be issued (subject to the limits of the authorities) and the price at which the New Shares will be issued, as well as the identity of who the New Shares will be issued to. Further details of the Potential Equity Raise (if it proceeds) will be announced in due course.

The Circular has been posted to the Shareholders today and is available to view on, and download from, the Company's website at www.allergytherapeutics.com.