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Bavarian Nordic A/S – Major Shareholder Announcement

In pursuance of the Danish Securities Trading Act's section 29, please be informed that Bavarian Nordic A/S has received information that ATP and ATP Invest have increased their holding of shares in Bavarian Nordic A/S.

ATP and ATP Invest subsequently hold 400,466 shares, corresponding to 5.12 % of the total shares in Bavarian Nordic A/S.