SERB Deal Strengthens Balance Sheet and Sharpens Focus On U.S. Launch

Research evidence excerpt

SERB Deal Strengthens Balance Sheet and Sharpens Focus On U.S. Launch

ect security(ies) and

subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views

expressed in this research report.

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as appropriate in the analyst's judgement.

Investment Recommendation Record

(Article 3(1)e and Article 7 of MAR)

Recommendation Published May 19, 2026 12:22 P.M.

Recommendation Distributed May 19, 2026 12:22 P.M.

Company Specific Disclosures

Within the past twelve months, Hansa Biopharma AB has been a client of Jefferies Financial Group Inc., its affiliates or subsidiaries and investment banking

services are being or have been provided.

Jefferies Financial Group Inc., its affiliates or subsidiaries has acted as a manager or co-manager in the underwriting or placement of securities for Hansa

Biopharma AB or one of its affiliates within the past twelve months.

Jefferies International Ltd, its affiliates or subsidiaries has, or had, within the past 12 months an agreement to provide investment services to Hansa Biopharma

AB.