Press release: Transparency Notification from Shareholders

By: Sequana Medical NV via GlobeNewswire

July 28, 2025 at 12:00 PM EDT

Transparency Notification from Shareholders

Ghent, Belgium – 28 July 2025 – Sequana Medical NV (Euronext Brussels: SEQUA) (the "Company" or "Sequana Medical"), a pioneer in the treatment of drug-resistant fluid overload in liver disease, heart failure and cancer, announces today that it received a transparency notification in relation to the entities listed below, notifying the number of voting rights attached to the shares mentioned next to their name in the table below.

	Reason for notification	Aggregate number of shares and voting rights held	% of total outstanding shares ⁽¹⁾
BlackRock, Inc. / BlackRock Saturn Subco, LLC / BlackRock Finance, Inc. / BlackRock Holdco 2, Inc. / BlackRock Financial Management, Inc. / BlackRock International Holdings, Inc. / BR Jersey International Holdings L.P. / BlackRock Holdco 3, LLC / BlackRock Cayman 1 LP / BlackRock Cayman West Bay Finco Limited / BlackRock Cayman West Bay IV Limited / BlackRock Group Limited / BlackRock Crane Limited / Kreos Capital Management Limited / Kreos Capital Group VII Limited / Kreos Capital Group VII LP / Kreos Capital VII Aggregator ScSp ⁽²⁾	Acquisition or disposal of voting securities or voting rights	2,906,205	4.97%

_____________
Notes:

(1) The total number of outstanding shares of the Company mentioned in the relevant transparency notification amounts to 58,529,799, each share giving right to one (1) vote (being 58,529,799 voting rights in total).
(2) On behalf of the parties mentioned in the table above, which are subject to the notification requirement, including BlackRock, Inc. ("BlackRock") and Kreos Capital VII Aggregator ScSp ("Kreos Capital"), a parent undertaking or a controlling person informed the Company, by means of a notification dated 25 July 2025, that the shareholding of Kreos Capital (holding 2,906,205 shares and voting rights, which corresponds to 4.97% of the outstanding voting rights of the Company), crossed below the threshold of 5% of the outstanding voting rights of the Company on 24 July 2025. The joint notification specifies furthermore that the full chain of controlled undertakings through which the holding is effectively held is as follows: (i) BlackRock, Inc.; (ii) BlackRock Saturn Subco, LLC; (iii) BlackRock Finance, Inc.; (iv) BlackRock Holdco 2, Inc.; (v) BlackRock Financial Management, Inc.; (vi) BlackRock International Holdings, Inc.; (vii) BR Jersey International Holdings L.P.; (viii) BlackRock Holdco 3, LLC; (ix) BlackRock Cayman 1 LP; (x) BlackRock Cayman West Bay Finco Limited; (xi) BlackRock Cayman West Bay IV Limited; (xii) BlackRock Group Limited; (xiii) BlackRock Crane Limited; (xiv) Kreos Capital Management Limited; (xv) Kreos Capital Group VII Limited; (xvi) Kreos Capital Group VII LP; and (xvii) Kreos Capital VII Aggregator ScSp. The notification also states that the disclosure obligation arose due to voting rights attached to shares for BlackRock going below 5% and that the total holdings in voting right for BlackRock went below 5%.

This announcement is made in accordance with Article 14 of the Belgian Act of 2 May 2007 on the disclosure of major participations in issuers of which shares are admitted to trading on a regulated market and regarding miscellaneous provisions.

To access a copy of the aforementioned transparency notification, reference is made to Sequana Medical's website (https://www.sequanamedical.com/investors/shareholder-information/).

Pursuant to the Belgian Transparency Act and the articles of association of the Company, a notification to the Company and the Belgian Financial Services and Markets Authority (FSMA) is required by all natural and legal persons in each case where the percentage of voting rights attached to the securities held by such persons in the Company reaches, exceeds or falls below the threshold of 3%, 5%, 10%, and every subsequent multiple of 5%, of the total number of voting rights in the Company.

For more information, please contact:

Sequana Medical

Investor relations
E: IR@sequanamedical.com
T: +32 9 292 8065

About Sequana Medical

Sequana Medical NV is a pioneer in treating fluid overload, a serious and frequent clinical complication in patients with liver disease, heart failure and cancer. This causes major medical issues including increased mortality, repeated hospitalizations, severe pain, difficulty breathing and restricted mobility. Although diuretics are standard of care, they become ineffective, intolerable or exacerbate the problem in many patients. There are limited effective treatment options, resulting in poor clinical outcomes, high costs and a major impact on their quality of life. Sequana Medical is seeking to provide innovative treatment options for this large and growing "diuretic resistant" patient population. alfapump® and DSR® are Sequana Medical's proprietary platforms that work with the body to treat diuretic-resistant fluid overload, and are intended to deliver major clinical and quality of life benefits for patients, while reducing costs for healthcare systems.

The Company received US FDA approval for the alfapump System for the treatment of recurrent or refractory ascites due to liver cirrhosis in December 2024, following the grant of FDA Breakthrough Device Designation in 2019. Sequana Medical intends to start US commercialisation in Q3 2025 through a small specialty sales force that it will establish to target the 90 US liver transplant centers that perform 90% of liver transplants.

Results of the Company's RED DESERT and SAHARA proof-of-concept studies in heart failure published in European Journal of Heart Failure in April 2024 support DSR's mechanism of action as breaking the vicious cycle of cardiorenal syndrome. All three patients from the non-randomized cohort of MOJAVE, a US randomized controlled multi-center Phase 1/2a clinical study, have been successfully treated with DSR, resulting in a dramatic improvement in diuretic response and virtual elimination of loop diuretic requirements¹.

Sequana Medical is listed on the regulated market of Euronext Brussels (Ticker: SEQUA.BR) and headquartered in Ghent, Belgium. For further information, please visit www.sequanamedical.com.

Important Safety Information: For important safety information regarding the alfapump® system, see https://www.sequanamedical.com/wp-content/uploads/ISI.pdf.

The alfapump® System is currently not approved in Canada.

DSR® therapy is still in development and is currently not approved in any country. The safety and effectiveness of DSR® therapy has not been established.

Note: alfapump® and DSR® are registered trademarks.

Forward-looking statements

This press release may contain predictions, estimates or other information that might be considered forward-looking statements. Such forward-looking statements are not guarantees of future performance. These forward-looking statements represent the current judgment of Sequana Medical on what the future holds, and are subject to risks and uncertainties that could cause actual results to differ materially. Sequana Medical expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release, except if specifically required to do so by law or regulation. You should not place undue reliance on forward-looking statements, which reflect the opinions of Sequana Medical only as of the date of this press release.

¹ Data reported in press release of March 25, 2024; mean increase of 326% in six-hour urinary sodium excretion at 3 months follow up vs baseline, and 95% reduction of loop diuretics over same period.

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