NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT D

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION

IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS

OF THAT JURISDICTION.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN ANNOUNCEMENT

OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS ("THE CODE"). THERE CAN BE

NO CERTAINTY THAT AN OFFER WILL BE MADE.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

Poolbeg Pharma plc ("Poolbeg")

and HOOKIPA Pharma Inc. ("HOOKIPA")

Update on Potential Combination of Poolbeg

Further to the announcement on 2 January 2025

(the "2.4 Announcement"), the Boards of Poolbeg and HOOKIPA are pleased to confirm that significant HOOKIPA shareholder,

Gilead Sciences Inc. ("Gilead"), has indicated its intention to vote consistent with the HOOKIPA Board's recommendation

if a formal offer were to be made and to participate in the proposed concurrent Fundraise, consistent with its current contractual obligations.

Gilead owns 1,875,947 HOOKIPA common shares, representing 19.4% of HOOKIPA's existing issued share capital.

Additionally, HOOKIPA has amended the details

of the Fundraise that were disclosed in the 2.4 Announcement. HOOKIPA is now expected to undertake a 100% primary private placement fundraise

of approximately $30 million+. The 2.4 Announcement stated that HOOKIPA is expected to undertake a 100% private placement fundraise of

up to approximately $30 million. An updated version of the Fundraise Presentation will be available on both companies' websites

Oppenheimer & Co. Inc. has been engaged

by HOOKIPA as placement agent in connection with the private placement fundraise.

All discussions relating to the Potential Combination

to date have been non-binding and on a non-exclusive basis, and there can be no assurance that a firm offer will be made or that any

transaction will be completed.

Capitalised terms used but not defined in

this announcement have the same meanings given to them in the 2.4 Announcement.

In accordance with Rule 30.4 of the

Code, a copy of this announcement will be available on the Company's website -

https://www.poolbegpharma.com/about/investors/rns-news/ and Hookipa's website -

ir.hookipapharma.com/potential-combination - by 12 noon on 8 January 2025.

The content of the website referred to in this

announcement is not incorporated into and does not form part of this announcement.

Important Information

This announcement is not intended to, and does

not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for,

sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

The distribution of this announcement in jurisdictions

outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform

themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities

law of any such jurisdiction.

Cavendish Capital Markets Limited ("Cavendish"),

which is authorised and regulated by the Financial Conduct Authority for investment business activities, is acting exclusively as financial

adviser to Poolbeg Pharma plc in relation to the matters set out in this announcement and is not acting for any other person in relation

to such matters. Cavendish will not be responsible to anyone other than Poolbeg Pharma plc for providing the protections afforded

to its clients or for providing advice in connection with any matters referred to in this announcement or otherwise.

Shore Capital and Corporate Limited and Shore

Capital Stockbrokers Limited (together, "Shore Capital"), which are authorised and regulated in the United Kingdom

by the Financial Conduct Authority, are acting exclusively for Poolbeg Pharma plc and no one else in relation to the matters set out

in this announcement and will not be responsible to anyone other than Poolbeg for providing the protections offered to clients of Shore

Capital or for providing advice in relation to the matters referred to herein.

J&E Davy Unlimited Company ("Davy"),

which is authorised and regulated in Ireland by the Central Bank of Ireland and in the United Kingdom by the Financial Conduct Authority,

is acting as broker exclusively for Poolbeg Pharma plc and no one else in relation to the matters set out in this announcement and will

not be responsible to anyone other than Poolbeg for providing the protections offered to clients of J&E Davy or for providing advice

in relation to the matters referred to herein.

Moelis & Company LLC ("Moelis")

is acting as financial adviser to HOOKIPA in connection with the matters set out in this announcement and for no one else and will not

be responsible to anyone other than HOOKIPA for providing the protections afforded to its clients nor for providing advice in relation

to the matters set out in this announcement. Neither Moelis nor any of its subsidiaries, branches or affiliates and their respective

directors, officers, employees or agents owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect,

whether in contract, in tort, under statute or otherwise) to any person who is not a client of Moelis in connection with this announcement,

any statement contained herein or otherwise.

Canaccord Genuity LLC ("Canaccord")

is acting as financial adviser to Poolbeg Pharma plc in connection with the matters set out in this announcement and for no one else

and will not be responsible to anyone other than Poolbeg for providing the protections afforded to its clients nor for providing advice

in relation to the matters set out in this announcement. Neither Canaccord nor any of its subsidiaries, branches or affiliates and their

respective directors, officers, employees or agents owes or accepts any duty, liability or responsibility whatsoever (whether direct

or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Canaccord in connection with

this announcement, any statement contained herein or otherwise.

Oppenheimer & Co. Inc. ("Oppenheimer")

is HOOKIPA's placement agent in connection with the Fundraise. Oppenheimer is not a financial advisor for the Potential Combination.

Neither Oppenheimer nor any of its subsidiaries or affiliates or their respective directors, officers, employees or agents owes or accepts

any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise)

to any person in connection with this announcement, any statement contained herein or otherwise.

Cautionary Statement Regarding Forward-Looking

This announcement contains "forward-looking"

statements concerning future events. All statements other than statements of historical fact or relating to present facts or current

conditions are forward-looking statements, including all statements related to the potential terms and effects of the Potential Combination

and any statements regarding guidance and statements of a general economic or industry-specific nature.

These forward-looking statements can be identified

by the fact that they do not relate only to historical or current facts. These statements are based on assumptions and assessments made

by HOOKIPA and Poolbeg in light of their discussions to date and their perception of historical trends, current conditions, future developments

and other factors they believe appropriate, and therefore are subject to risks and uncertainties which could cause actual outcomes and

results to differ materially from those expressed or implied by those forward-looking statements.

Forward-looking statements often use forward-looking

or conditional words such as "anticipate", "target", "expect", "forecast", "estimate",

"intend", "plan", "goal", "believe", "hope", "aim", "will",

"continue", "may", "can", "would", "could" or "should" or other

words of similar meaning or the negative thereof. Forward-looking statements include statements relating to the following: (i) the

potential terms of the Potential Combination; (ii) the potential impacts of the Potential Combination; (iii) the outcomes of

due diligence and ongoing negotiations and whether a firm offer will be made or the parties are otherwise able to reach binding agreement

on terms; (iv) the ability of the parties to satisfy (or waive) conditions to the consummation of the Potential Combination; (v) adverse

effects on the market price of HOOKIPA's or Poolbeg's stock prices or operating results as a result of the announcement of

the Potential Combination or failure to agree to binding terms or to otherwise consummate the Potential Combination; (vi) the effect

of the announcement or pendency of the Potential Combination on HOOKIPA's or Poolbeg's business relationships, operating

results and businesses generally; (vii) future capital expenditures, expenses, revenues, economic performance, synergies, financial

conditions, market growth, losses and future prospects; and (viii) business and management strategies and the expansion and growth

of the operations of the Combined Group. There are many factors which could cause actual results to differ materially from those expressed