Biofrontera AG: Subscription offer for up to 7,089,673 new shares begins on October 28, 2022

Leverkusen, Germany (pta005/26.10.2022/08:40 UTC+2)

Biofrontera AG had announced on 22.09.2022 that the capital increase resolved by the extraordinary shareholders' meeting on 07.04.2022 shall be executed after completion of the release procedure according to § 246a AktG.

According to the resolution of the shareholder meeting, the share capital shall be increased by issuing up to 7,089,673 new shares ("New Shares").

The New Shares will be offered to the shareholders for subscription and for additional subscription in the subscription period from October 28, 2022 to November 11, 2022 at a subscription ratio of 8:1. The subscription price per New Share is EUR 1.00.

The subscription offer will be published in the Federal Gazette on October 27, 2022 and is also available for download on the company's website under https://www.biofrontera.com/en/investors/current-capital-measure. The publication provides further details on the issue of the New Shares.

The funds from the capital increase should enable the Company to advance its strategic business development and market penetration as fast as possible.

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About Biofrontera:

Biofrontera AG is a biopharmaceutical company specializing in the development and sale of dermatological drugs and medical cosmetics. The Leverkusen-based company develops and markets innovative products for the treatment, protection and care of the skin. Its key products include Ameluz®, a prescription drug for the treatment of non-melanoma skin cancer and its precursors. Ameluz® has been marketed in the EU since 2012 and in the USA since May 2016. In Europe, the company also markets the Belixos® dermocosmetic series, a specialty care product for damaged skin. Biofrontera is one of a few German pharmaceutical company to receive a centralized European and a US approval for a drug developed in-house. The Biofrontera Group was founded in 1997 and is listed on the Frankfurt Stock Exchange (Prime Standard). www.biofrontera.com

Forward-Looking Statements: Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "will," "anticipate," "believe," "forecast," "estimate" and "intend," among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including, but not limited to, the risk that the termination of the ADS Level 1 Program or the deregistration with the SEC may not occur or may be delayed, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.

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Emitter:	Biofrontera AG Hemmelrather Weg 201 51377 Leverkusen Germany
Contact Person:	Investor Relations
Phone:	+49 (0) 214 87 63 20
E-Mail:	ir@biofrontera.com
Website:	www.biofrontera.com
ISIN(s):	DE0006046113 (Share)
Stock Exchange(s):	Regulated Market in Dusseldorf, Frankfurt; Free Market in Berlin, Munich, Stuttgart, Tradegate
Other Stock Exchanges:	US OTC