Appointment of new Chief Financial Officer

London, UK, 09 January, 2024: Shield Therapeutics plc (LSE: STX, "Shield"), a commercial stage pharmaceutical company that delivers Accrufer®/Feraccru® (ferric maltol), an innovative and differentiated specialty pharmaceutical product, to address a significant unmet need for patients suffering from iron deficiency (with or without anemia), announces the appointment of Santosh Shanbhag as Chief Financial Officer ('CFO'). Mr. Shanbhag, who will assume the position on 16 January 2024, will oversee the Company's financial operations and serve as a member of the Executive Leadership Team.

• Shanbhag is a senior financial executive with 20+ years of experience leading financial operations for both U.S. and international organizations, has completed fundraisings for both private and public companies, and helped execute complex business programs for transformative healthcare companies to support organizational growth and maximize organizational and capital efficiency.

Prior to joining Shield, Mr. Shanbhag was CFO of Nasdaq listed Akili, Inc., where he helped transform the company from a private to a public entity, raise capital to support its business aspirations, and was also responsible for corporate and business development. Before Akili, Mr. Shanbhag held senior finance leadership roles at Vertex Pharmaceuticals, including as Vice President and Head of International Finance and Accounting, where he helped in building out the international business and secure reimbursement for novel medicines in key international markets. Mr. Shanbhag has also served in positions of increasing responsibility at Capgemini Consulting and Texas Instruments. He holds an M.S. in Management & Engineering from MIT and Sloan School of Management, and an M.S. in Mechanical Engineering from the University of Massachusetts, Amherst.

Greg Madison, Chief Executive Officer, commented: "As we look to build on the impressive growth of Accrufer®, I am pleased to have Santosh joining the executive team as a key partner. The breadth of his experience in finance, capital markets, commercial, reimbursement and corporate development from his roles at Akili and Vertex, coupled with his keen operations acumen and strong life sciences background, make him an ideal addition to the executive leadership team at Shield."

Santosh Shanbhag said: "I am delighted to join Shield at this time in the Company's growth trajectory. Building healthcare businesses that transform patient care is my passion. I believe Accrufer® is transforming the care of people with iron deficiency and I look forward to working with Greg and the entire management team to leverage my experience with high growth organizations to continue to build our business and deliver value for patients and shareholders."

Clinically low iron levels (aka iron deficiency, ID) can cause serious health problems for adults of all ages, across multiple therapeutic areas. Together, ID and ID with anemia (IDA) affect about 20 million people in the U.S. and represent a $2.3B market opportunity. As the first and only FDA approved oral iron to treat ID/IDA, Accrufer® has the potential to meet an important unmet medical need for both physicians and patients.