All ordinary shares to be sold in the offering will be offered by Alvotech. The offering is expected to close on or about June 17, 2026, subject to satisfaction of customary closing conditions. The company has also granted the underwriters a 30-day option to purchase up to an additional 3,400,000 ordinary shares at the public offering price, less underwriting discounts and commissions. Before deducting the underwriting discounts and commissions and offering expenses, the company expects to receive total gross proceeds of approximately USD 85 million from the offering, or approximately USD 98 million if the underwriters exercise in full their option to purchase additional shares.

Concurrent with the Offering, Alvotech has entered into Subscription Agreement(s) with certain investors that are professional clients or eligible counterparties in the European Economic Area falling within article 1(4) of Regulation (EU) 2017/1129, pursuant to which Alvotech will issue and sell 17,826,666 ordinary shares to such investors at a price of USD 3.75 per ordinary share, which represents the per share public offering price, in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended. The gross proceeds from the concurrent private placement, before deducting any transaction-related expenses, are expected to be approximately USD 67 million. The concurrent private placement is expected to close on or about June 25, 2026, subject to the consummation of the offering and other customary conditions. However, the consummation of the offering is not contingent on the consummation of the concurrent private placement.

The total gross proceeds

The total gross proceeds from the offering and the concurrent private placement are expected to be approximately USD 152 million, or approximately USD165 million if the underwriters exercise in full their option to purchase additional shares, in each case before deducting underwriting discounts and commissions and estimated offering expenses payable.

Fund the continued development of its biosimilar assets, as well as working capital and general corporate purposes

Alvotech intends to use the net proceeds from this offering and the concurrent private placement to fund the continued development of its biosimilar assets, as well as working capital and general corporate purposes, which may include, among others, intellectual property protection and enforcement, commercial expenditures, capital expenditures, acquisitions or collaborations, pre-clinical and clinical development of its product candidates, research and development and product development, pre-commercialization activities and repayment or refinancing of indebtedness or other corporate borrowings.