PAION AG CHANGES FROM PRIME STANDARD TO GENERAL STANDARD

Aachen, 22. November 2023 - The Specialty Pharma Company PAION AG (ISIN DE000A3E5EG5; Frankfurt Stock Exchange: PA8) announces that the stock exchange listing of PAION AG will be changed from the Prime Standard to the General Standard of the regulated market of the Frankfurt Stock Exchange. The revocation of the admission of the shares to the Prime Standard of the Frankfurt Stock Exchange will be made with effect from 29. November 2023 by the Frankfurt Stock Exchange with the consent of PAION AG against the background of the application filed by PAION AG for the opening of insolvency proceedings. The admission of the shares of PAION AG to the regulated market remains unaffected by the revocation.

Contact:

Ralf Penner

SVP Investor Relations & Corporate Communications

PAION AG

Heussstrasse 25

52078 Aachen – Germany

Phone 2

E-mail

Disclaimer:

This release contains certain forward-looking statements concerning the future business of PAION AG. These forward-looking statements contained herein are based on the current expectations, estimates and projections of PAION AG’s management as of the date of this release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. Should actual conditions differ from PAION AG's assumptions, actual results and actions may differ materially from any future results and developments expressed or implied by such forward-looking statements. Considering the risks, uncertainties and other factors involved, recipients should not rely unreasonably upon these forward-looking statements. PAION AG has no obligation to periodically update any such forward-looking statements to reflect future events or developments.