Replacement - Update to 2024 Financial Calendar

The following amendments have been made to the 'Update to Faron's Financial Calendar for 2024' announcement released on 27 February 2024 at 1:00 p.m. EST / 6:00 p.m. GMT / 8:00 p.m. EET under RNS No 6663E.

• Replacement wording included.
• Change of date of the Company's AGM and publication of 2023 financial statement.
• Reasoning for change of date of publishing financial statement release for the full year 2023 and Annual Report 2023, including financial statements for the full year.
• Wording on defined terms.

All other details remain unchanged.

The full amended text is shown below.

Faron Pharmaceuticals Oy

("Faron" or "Company")

Replacement - Update to Faron's Financial Calendar for 2024

Company announcement February 28, 2024, at 4:00 p.m. GMT / 6:00 p.m. EET

TURKU, FINLAND / BOSTON, MA - February 28, 2024 - Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON), a clinical stage biopharmaceutical company focused on tackling difficult-to-treat cancers and inflammation via precision immunotherapy, today announces an update to its financial reporting calendar for 2023, further to the announcement on December 22, 2023. This announcement replaces the previous one dated February 27, 2024.

The Company's financial statement release for the full year 2023 and Annual Report 2023, including financial statements for the full year, will now be published on March 13, 2024, at 2:00 a.m. EST / 07:00 a.m. GMT / 09:00 a.m. EET, rather than on Thursday, February 29, 2024, as had been previously communicated.

The publication date of Tuesday, August 27, 2024, for Faron's half-year financial report for the period January 1 to June 30, 2024, remains unchanged. The Company's Annual General Meeting is planned to be convened on Friday, April 5, 2024.

A separate stock exchange notice will be issued by Faron's board of directors to convene the meeting.

The financial calendar has been amended as a consequence of the breach of the Funding Agreement between IPF and Faron, announced on February 19, 2024. As such, the Board has been unable to approve the accounts for the full year 2023 for publication.

Full Year Results Virtual Briefing

Following publication of Faron's financial statement release for the full year 2023 on March 13, 2024, Dr. Markku Jalkanen, Chief Executive Officer, and James O'Brien, Chief Financial Officer, will host a virtual briefing and Q&A session for analysts on the day at 2:00 p.m. EET / 12:00 p.m. GMT (noon). Presentation link https://faron.videosync.fi/q4-2023

The full year results press release for 2023, presentation, virtual briefing webcast details, and Annual Report 2023 will be made available at www.faron.com/investors. A replay of the analyst briefing will be made available shortly afterwards.

For more details about the analyst briefing, please contact Faron@consilium-comms.com.

Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Company's announcement of February 19, 2024.