Allergy Therapeutics plc

("Allergy Therapeutics" or the "Company")

Long Term Incentive Awards

15 June 2026 Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy immunotherapies, announces that on 13 June 2026 it made a new long term incentive award (the "LTIP Award") to Shaun Furlong, its Chief Financial Officer (CFO), in recognition of in recognition of the significantly higher level of corporate activity as the Company continues to explore the potential dual primary listing of its ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX).

LTIP Award

The LTIP Award is intended to incentivise and reward a defined level of share price growth and shareholder value creation, as the Company seeks to accelerate the delivery and sales of its immunotherapies. The remuneration committee of the Company believes that the mix of performance conditions will ensure a balance between strong share price growth and reaching for full operational, commercial and financial potential and mirrors the stretching award conditions of the LTIP Awards granted in February 2025. 

The maximum aggregate number of ordinary shares under option pursuant to the LTIP Award is approximately 2.3 million, representing 0.036% of the Company's issued share capital.

The LTIP Award has been made in the form of nominal cost options under the 2023 Long Term Share Incentive Plan. The number of ordinary shares under the LTIP Award granted to the CFO is set out in the table below.

The LTIP Award is subject to a share price performance target and commercial, financial and operational performance targets as described below. Subject to the meeting of the performance conditions, the award will vest 28 February 2030.

The share price performance targets were set in the context of the share price during the third quarter of calendar year 2024. The testing period will be the final 60 trading days prior to 28 February 2030 (the "Testing Period"), and the targets can be summarised as follows:

·    No New LTIP Award will vest if the volume weighted average share price for the Testing Period is less than 10p

·      10% of the New LTIP Award will vest if the volume weighted average share price for the Testing Period is 10p

·    100% of the LTIP Award will vest if the volume weighted average share price for the Testing Period is 16p

·      If the volume weighted average share price for the Testing Period is between 10p and 16p, the New LTIP Award will vest on a straight-line basis from 10% to 100%

Additional gateway conditions which must be achieved for any LTIP Award to vest include partnership deals for product launches, revenue targets for the period through 30 June 2029 and targets relating to manufacturing output.

The LTIP Award will be subject to good/bad leaver provisions, malus and clawback conditions, an overall cap on the value which can be earned and an overriding Remuneration Committee discretion to vary the level of vesting to ensure values earned reflect company performance and the experience of shareholders.

Related Party Transaction

The issue of the LTIP Award to Shaun Furlong is deemed to be a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The directors of the Company who are independent of the related party transaction, being all the directors other than Shaun Furlong, consider the terms of the related party transaction to be fair and reasonable insofar as the shareholders of the Company are concerned.

This announcement contains inside information for the purposes of the retained UK version of the EU Market Abuse Regulation (EU) 596/2014 ("UK MAR"). For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of the Company is Manuel Llobet, Chief Executive Officer.

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Notes for editors:

About Allergy Therapeutics

Allergy Therapeutics is an international commercial biotechnology company, headquartered in the UK, focused on the treatment and diagnosis of allergic disorders. 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.

Allergy Therapeutics

Manuel Llobet, Chief Executive Officer

Shaun Furlong, Chief Financial Officer

+44 (0)1903 845 820

Cavendish Capital Markets Limited (Nominated Adviser and Broker)

Geoff Nash /Giles Balleny/ Seamus Fricker

Nigel Birks - Life Science Specialist Sales

+44 (0)20 7220 0500

ICR Healthcare

Mary-Jane Elliott / David Daley / Davide Salvi

+44 (0)20 3709 5700

[email protected]

Notification and public disclosure of transactions by Director/persons discharging managerial responsibilities and persons closely associated with them