Bavarian Nordic A/S – Major Shareholder Announcement

Kvistgård, Denmark, December 6, 2010 - Bavarian Nordic A/S (OMX: BAVA) announces in pursuance of the Danish Securities Trading Act's section 29, that the company has received information that Lønmodtagernes Dyrtidsfond (Den Professionelle Forening LD), after the recent capital increase in Bavarian Nordic A/S, no longer holds above 5% of the total share capital and voting rights in Bavarian Nordic A/S.