Retail Offer

The Board of VALIRX PLC (the "Company") is pleased to announce a retail offer via BookBuild (the "Retail Offer") of new ordinary shares ("Ordinary Shares") of ORDINARY GBP 0.001 each in the capital of the Company (the "Retail Offer Shares") at an issue price of GBX 6.00 per Retail Offer Share (the "Issue Price").

The Retail Offer is only available to existing shareholders of the Company.

In addition to the Retail Offer, the Company is also conducting a placing of new ordinary shares (the "Placing) and subscription of new ordinary shares (the "Subscription") at the Issue Price (the "Placing" and "Subscription" and together with the Retail Offer, the "Fundraising"). A separate announcement has been made regarding the Placing and the Subscription and their terms. For the avoidance of doubt, the Retail Offer is not part of the Placing.

The Group has raised approximately £1.61 million (before expenses) through the Placing and intended Subscription and may raise (subject to take up) up to an additional £0.25 million (before expenses) under the Retail Offer. The proceeds of the Fundraising, of up to approximately £1.86 million (before expenses), are intended to be used by the Group for the following:

• £0.6 million for the exploitation and integration of BioBank materials from the Imagen assets acquisition;
• £0.2 million for the commercial development and brand establishment within Inaphaea;
• £0.2 million for R&D of new evaluation projects (estimated 3-4 projects)
• £0.2 million for R&D of ongoing evaluation projects (StingRay, KRAS and VAL301)
• £0.4 million for R&D of the ongoing and intended SPV (Cytolytix)

The Issue Price represents a discount of approximately 23 per cent to the closing share price of 7.8 pence per existing Ordinary Share on 12 December 2023.

The Retail Offer is conditional on the Retail Offer Shares to be issued pursuant to the Retail Offer being admitted to trading on the AIM market operated by the London Stock Exchange ("Admission"). Admission of the Retail Offer Shares pursuant to the Retail Offer is expected to take place on 8 January 2024. Completion of the Retail Offer is conditional, inter alia, upon the completion of the Placing.

Expected Timetable in relation to the Retail Offer

Retail Offer

The Company values its retail shareholder base, which has supported the Company in its capital raises over the past few years. Given the support of retail shareholders, the Company believes that it is appropriate to provide its retail shareholders in the United Kingdom the opportunity to participate in the Retail Offer. The Company is therefore making the Retail Offer available in the United Kingdom through the financial intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/4QDLX1/authorised-intermediaries

The Retail Offer will be open to eligible investors in the United Kingdom at 16:30pm on 13 December 2023. The Retail Offer is expected to close at 12:00pm on 19 December 2023. Investors should note that financial intermediaries may have earlier closing times. The Retail Offer may close early if it is oversubscribed.

The Retail Offer is not being made into any jurisdiction other than the United Kingdom.

There is a minimum subscription of £100.00 per investor under the terms of the Retail Offer which is open to investors in the United Kingdom subscribing via the intermediaries which will be listed, subject to certain access restrictions, on the following website: https://www.bookbuild.live/deals/4QDLX1/authorised-intermediaries

The Company's LEI is 213800VQKB9SJCQDET40.

UK Product Governance Requirements

EU Product Governance Requirements