Biofrontera AG: Biofrontera AG plans capital reduction and considers subsequent capital increase from authorized capital

Leverkusen, Germany (pta037/15.02.2024/21:20 UTC+1)

The Management Board and Supervisory Board of Biofrontera AG have decided today to convene an Extraordinary General Meeting of the Company at short notice to resolve on an ordinary capital reduction by consolidating the existing no-par value shares at a ratio of 21:1. In order to make this ratio possible, seven shares provided to the Company free of charge by a shareholder are to be withdrawn beforehand. As a result, the new share capital is to amount to EUR 3,038,431.00.

The capital reduction serves to offset accumulated losses and those expected in the current financial year 2024. The capital reduction will also ensure that the company's share price rises significantly above EUR 1.00 again and that necessary capital measures can be implemented in the future, which is currently not possible due to the prohibition of sub-par issuance, i.e. the prohibition to issue shares for less than EUR 1.00 per share.

The existing Authorized Capital 2022 in the amount of EUR 12,700,000.00 remains unaffected by the capital reduction. The Management Board and the Supervisory Board are considering to carry out a capital increase relatively soon after the capital reduction becomes effective, making partial use of this authorized capital.

The Management Board

(end)

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