Audientes A/S: Update to Capitalization Plan and Financial Calendar

Audientes A/S (“Audientes” or the “Company”), CVR 36047631, provides details on its capitalization plan plus an updated financial calendar with dates and information concerning its Annual Report 2023 and Annual General Meeting 2024.

Company announcement no. 6-2024

February 22, 2024

Capitalization plans for 2024

Securing additional growth capital represents a paramount imperative for the Company, aimed at satisfying the essential financial requirements for Audientes’ basic operations, market development, new product development initiatives, and the requisite medical device approvals, among other essential undertakings. Consequently, in accordance with our repeated references throughout last year, we persistently assess an array of diverse alternatives for procuring the necessary financing within the near-to-intermediate timeframe, while pursuing sales revenue (incl. pre-payments) for products sold and services rendered to licensees and business partners, and generally working towards a sustainable business operation in the coming years.

Audientes aim to secure at least DKK 10 million in financing of its operations in 2024, in sensible steps depending on its share price and need for additional financing. The current capitalization plan for 2024 include a convertible bridge loan in Q1 (on terms similar to previous loans obtained by the Company i.e. short-term loan of up to 6 months duration with a 2% interest rate per month). This combined with potential proceeds from the 3,159,048 warrants issued in October 2023 as part of a directed issue, which may be exercised before 28 March 2024, shall provide the runway to a rights issue aimed at existing shareholders in the April/May timeframe. This rights issue may be complemented by a further directed issue of shares and/or another rights issue later in the year.

In addition, remaining convertible loans amounts to DKK 4.7 million with no interest and no installments due until the loans are maturing by the end of September 2024. The lenders may elect to convert the loans partly or wholly to shares at market price at certain points during the coming year, coinciding with the release of Audientes’ quarterly and annual reports or with the issue of new shares.

If the forthcoming critical funding round(s) and/or the potential financing avenues fail to materialize as anticipated, the current corporate development strategies will be subject to adaptation in accordance with the company's financial constraints and resources.

Annual Report 2023

The date of the Annual Report 2023 in our financial calendar has been moved forward from March 28, 2024, to March 27, 2024, due to a clash with the national holiday “Skærtorsdag” (Maundy Thursday) in Denmark.

Annual General Meeting 2024

The Date of the Annual General Meeting 2024 has been set to April 12, 2024.

At this meeting, Audientes Board of Directors will put forward proposals for new mandates for issuing more shares and warrants to enable the capitalization plan detailed above.

A proposal to reduce the nominal value per share will also be put forward. This is because the Company's current share price has been lower than the share's nominal value of DKK 0.1 for some time. This has the derivative consequence that it is currently not possible in practice to

carry out capital increases, including by using the Board of Directors’ existing authorizations in the articles of association.

Financial calendar
Based on the aforementioned dates for Annual Report 2023 and the Annual General Meeting for 2024, the Company has updated its financial calendar as follows:

For further information, please contact:

Steen Thygesen, CEO, Audientes A/S

Phone: ‭+45 77 34 16 80‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Email: st@audientes.com

About Audientes A/S

Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes’ unique hearing aid solution, Ven™ by Audientes, is available for purchase in the Indian and Nepalese markets. Companion by Audientes is an advanced hearable consumer electronics product, marketed in Japan, China, EU and other select markets worldwide.

Audientes’ mission is to develop hearing aids and hearables for hearing improvement or enhancement for everyone who needs them globally. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with a subsidiary in Hyderabad, India.

For additional information please refer to the company’s websites, www.audientes.com, www.audientes.eu or www.audientes.in.

This disclosure contains information that Audientes is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 22-02-2024 16:45 CET.