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 IS AN ANNOUNCE

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 IS AN ANNOUNCEMENT FALLING UNDER RULE

2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS ("THE CODE").

THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION

AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN

UNION (WITHDRAWAL) ACT 2018.

Pharma Inc. ("HOOKIPA")

regarding potential combination for Poolbeg Pharma plc ("Poolbeg")

Further to the announcement

on 2 January 2025 regarding the non-binding discussions for an all-share acquisition by HOOKIPA of Poolbeg and the announcement on

30 January 2025 regarding the PUSU extension, the HOOKIPA Board has determined that it does not intend to make an offer for Poolbeg

under Rule 2.7 of the Code.

This announcement is

made in accordance with Rule 2.8 of the Code.

Under Note 2 on Rule 2.8

of the Code, HOOKIPA and any person(s) acting in concert with it reserve the right to set aside the restrictions in Rule 2.8

of the Code in the following circumstances:

The person responsible

for arranging the release of this announcement on behalf of HOOKIPA is Malte Peters, Chief Executive Officer of HOOKIPA.

Important information

This announcement is

not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire,

subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant

to this announcement or otherwise.

The release, distribution

or publication of this announcement in jurisdictions outside the United Kingdom may be restricted by laws of the relevant jurisdictions

and therefore persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

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

Publication on Website

copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions)

on HOOKIPA's website - https://ir.hookipapharma.com/potential-combination# by no later than 12 noon (London time)

on the business day following the release of this announcement in accordance with Rule 26.1 of the Code. The content of the website

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

This announcement is

not intended to, and does not, constitute, represent or form part of any offer, invitation or solicitation of an offer to purchase, otherwise

acquire, subscribe for, sell or otherwise dispose of any securities or the solicitation of any vote or approval in any jurisdiction whether

pursuant to this announcement or otherwise.