Quantum Genomics : 2022 Half-year financial report

HALF-YEARLY FINANCIAL REPORT

FIRST SIX MONTHS OF 2022

Business activity report

Financial statements at 30 June 2022

Appendix to the half-yearly accounts

Statutory auditor's report

Quantum Genomics

Société anonyme [Limited Company] With a capital of €13,841,733.79

Registered Office: 33 rue Marbeuf - 75008 Paris 487 996 647 Trade & Companies register of Paris

1. ACTIVITIES OF THE COMPANY AND HIGHLIGHTS OF THE FIRST SIX MONTHS OF 2022

During the first half of 2022 (H1 2022), Quantum Genomics (the "Company") continued its Phase III development plan focusing on difficult-to-treat and resistant arterial hypertension with a continuation of the FRESH and REFRESH studies.

1.1 Economic and scientific progress

In March 2022, Stéphane Cohen joined the Quantum Genomics management team as Director of Global Operations. Stéphane Cohen has worked in major pharmaceutical companies (including at Bayer and Pfizer for 18 years) as an operational and general manager and has been involved in the successful launches of around a dozen or so new treatments. He will oversee the relationship with current and future international partner laboratories, implement the operational strategy in line with rules of good governance and prepare for the market launch of firibastat.

Also in March, the Company announced the issuance of new patents protecting its QGC606 product. These new patents will ensure protection in the US and Australia until 2040 for a new chemical series of brain aminopeptidase A inhibitors, more specifically protecting the drug candidate QGC606. The Company has also published a scientific paper in the Canadian Journal of Cardiology reporting the efficacy of QGC606 in an experimental heart- failure model.

In April 2022, the Company secured €17.5 million after a successful round of fund-raising. It now has the financial resources to continue the development of firibastat and explore new therapeutic areas based on the patented technology platform designed around BAPAIs. Otium Capital, with a further €10 million investment, is now the largest shareholder of the Company holding almost 14%.

In May 2022, Sarah Merlen joined the Quantum Genomics team as Head of Regulatory Affairs, to prepare for the registration of firibastat in the treatment of difficult-to-treat and resistant hypertension and to implement the operational strategy required for the submission of marketing applications. The first application will be filed in the United States and Europe, and then in the various territories targeted by the pharmaceutical partners of the company.

Also in May 2022, the Company announced that it had completed the recruitment of patients in its pivotal Phase 3 FRESH study evaluating the efficacy of firibastat in the treatment of difficult-to-treat and resistant hypertension. The first results are expected to be announced in late October 2022 during a presentation at the American Heart Association (AHA) conference in Chicago on 5-7 November 2022.

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1.2 Legal activities

Since 1 January 2022, the following legal activities have taken place:

• the Board of Directors met on 6 January 2022. Its actions included:
• • duly noting the resignation of Mrs Lyse Santoro from her position as independent Director of the Company;
  • co-optinga new Independent Director to replace the Independent Director who had resigned;
• on 24 January 2022, the Board of Directors following a meeting of the Remuneration and Nomination Committee on the same day:
• • took decisions regarding the remuneration policy for company staff, following the recommendations of the Remuneration and Nomination Committee, which had met on the same date;
  • decided to increase the pay of the Chief Executive Officer, following the recommendations of the Remuneration and Nomination Committee, which had met on the same date;
• the Board of Directors met on 25 April 2022. Its actions included:
• • duly noting the completion of the capital increase of €1,999.10, as a result of the allocation of bonus shares to company employees and managers (AGA03-2021);
  • agreeing a correlative change to Article 6 of the Company's Articles of Association;
  • agreeing a capital increase in cash, under the scope of a delegation of authority determined by the Annual Ordinary and Extraordinary General Meeting of the Company on 24 June 2021, under the terms of Resolution 16, with cancellation of the preferential subscription right in favour of a category of persons, and setting the terms and conditions of the issue;
  • authorising the agreement and signing of a management and placement contract;
  • approving the terms and conditions of a new strategic, commercial and capital partnership of the Company;
  • authorising the agreement and signing of a contract ("Subscription Agreement") for the implementation of this operation;
  • agreeing a capital increase in cash, under the scope of a delegation of authority determined by the Annual Ordinary and Extraordinary General Meeting of the Company on 24 June 2021, under the terms of Resolution 15, with cancellation of

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the preferential subscription right in favour of a category of persons, and setting the terms and conditions of the issue;

• • granting powers to the Chief Executive Officer to implement the resolutions adopted;
• the Chief Executive Officer, in accordance with the decisions dated 26 April 2022, decided to implement the operations determined by the Board on 25 April 2022;
• the Chief Executive Officer, in accordance with the decisions dated 27 April 2022, decided to set the terms and conditions of the operations determined by the Board on 25 April 2022;
• the Chief Executive Officer, in accordance with the decisions dated 29 April 2022, duly:
• • recorded the completion of the capital increase voted by the Board of Directors on 25 April 2022, which was the purpose of Resolution 3, in view of the delegation of authority determined the Annual General Meeting of Shareholders on 24 June 2021;
  • recorded the completion of the capital increase voted by the Board of Directors on 25 April 2022, which was the purpose of Resolution 7, in view of the delegation of authority determined the Annual General Meeting of Shareholders on 24 June 2021;
  • correlatively changed Article 6 of the Company's Articles of Association.
• the Board of Directors met on 27 April 2022. Its actions included:
• • examining and approving the accounts for the year ending 31 December 2021;
  • proposing the Allocation of profits for the year ended 31 December 2021;
  • deciding to submit to this Annual General Meeting new delegations of authority to the Board of Directors;
  • proposing the appointment of a new Director;
  • taking the necessary decisions, related to the decisions taken above, connected to the preparation and convening of the Annual Ordinary General Meeting called to approve the accounts for the year in question;
• the actions taken at the Annual Ordinary and Extraordinary General Meeting of Shareholders on 23 June 2022 included:
• • examining and approving the accounts for year ending 31 December 2021,

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• discharging the Directors,
• allocating the profits of the year,
• allocating the debit balance carried forward to the "issue, merger, and contribution premium" item,
• approving the agreements referred to in Article L. 225-38 and subsequent of the French Commercial Code,
• ratifying the co-option a new Director,
• appointing a new Director,
• authorising the Board of Directors to trade in the Company's shares, pursuant to the provisions of Article L. 225-209 of the Commercial Code,
• delegating authority to the Board of Directors to increase the share capital, with cancellation of the preferential subscription right and public offering of financial securities,
• delegating authority to the Board of Directors to decide to increase the share capital by issuing - with preferential subscription rights - shares and/or securities giving access to the Company's capital and/or the issuing of securities with an entitlement to the allocation of debt securities,
• delegating authority to the Board of Directors to decide to increase the share capital by issuing - without preferential subscription rights - shares and/or securities giving access to the Company's share capital and/or the issuing of securities with an entitlement to the allocation of debt securities by means of an offer referred to in Article L. 411-2 1 of the Monetary and Financial Code, in particular to qualified investors or a restricted circle of investors,
• delegating authority to the Board of Directors to decide to increase the share capital by issuing shares and/or securities giving access to the Company's share capital and/or by issuing securities with an entitlement to the allocation of debt securities, with cancellation of the preferential subscription right in favour of a category of persons (strategic operation).
• delegating authority to the Board of Directors to decide to increase the share capital by issuing shares and/or securities giving access to the Company's share capital and/or by issuing securities with an entitlement to the allocation of debt securities, with cancellation of the preferential subscription right in favour of a category of persons (investment operation).

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