Allergy Therapeutics plc

("Allergy Therapeutics" or "the Group")

Launch of new Company Long Term Incentive Plan

Grant of Options

Change of Name of Nominated Adviser and Broker

4 July 2024 Allergy Therapeutics (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy vaccines, announces that on 26 June 2024 it adopted a new long-term incentive plan ("New LTIP"), with share option awards to be made to key members of Allergy Therapeutics' management team including certain of its persons discharging managerial responsibilities ("PDMRs").

The Group's Remuneration Committee adopted the New LTIP and has granted options to encourage long-term value creation for the Company's shareholders, and so that the individuals identified as key people to lead the business into the future are appropriately incentivised in a manner that aligns with the interests of the Group's stakeholders.

Vesting is conditional on the satisfaction of performance criteria over a three year period. The vesting of any share options is subject to a share price threshold. So long as this share price threshold is exceeded, vesting of 70 per cent. of the award is subject to EBITDA performance and vesting of 30 per cent. of the award is subject to regulatory performance targets.

The following awards have been made in accordance with the New LTIP:

The number of Ordinary Shares stated above is the maximum number that could be issued to each PDMR upon full satisfaction of the performance conditions attached to the awards.

The Committee will review the performance conditions at periodic intervals to ensure they remain appropriate. As a result of any such review, the Committee will retain discretion to amend the conditions where appropriate having regard to overall Company performance and wider stakeholder experience.

Change of Name of Nominated Adviser and Broker

The Company also announces that its Nominated Adviser and Broker has changed its name to Panmure Liberum Limited following completion of its own corporate merger.

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For further information, please contact:

Allergy Therapeutics

Manuel Llobet, Chief Executive Officer

Shaun Furlong, Chief Financial Officer

+44 (0)1903 845 820

Panmure Liberum (Nominated Adviser and Broker)

Emma Earl, Will Goode, Freddy Crossley, Mark Rogers, Corporate Finance

Rupert Dearden, Corporate Broking

+44 (0)20 7886 2500

ICR Consilium

Mary-Jane Elliott / David Daley / Davide Salvi

+44 (0)20 3709 5700

allergytherapeutics@consilium-comms.com

Notes for editors:

About Allergy Therapeutics

Allergy Therapeutics is an international commercial biotechnology company, headquartered in the UK, focussed on the treatment and diagnosis of allergic disorders, including aluminium free immunotherapy vaccines that have the potential to cure disease. The Group sells proprietary and third-party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries. For more information, please see www.allergytherapeutics.com.

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