CARMAT accelerates its sales momentum and reiterates its confidence in its development outlook

• 20 implants of the Aeson^® artificial heart performed in the first half of 2024
• Pace of 4 implants per month in the second quarter
• Half-year sales at €3.2 million, higher than the 2023 full-year sales
• Unique safety and performance profile of Aeson^® confirmed, based on more than 70 implants made since inception

Videoconference in French this evening at 6:00 pm CEST. To participate, please register by clicking on this link.

Paris, July 9, 2024 – 7:00 am CEST

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), provides an update on its achievements over the first half of 2024 and reiterates its confidence in its development outlook.

Stéphane Piat, Chief Executive Officer of CARMAT, comments: “Overall, our first-half achievements are very positive. With sales of €3.2 million (i.e., 20 implants) in the first 6 months of the year, we have already exceeded our 2023 annual sales; and the trajectory is extremely encouraging, with twice as many implants in the second quarter as in the first.

With 14 implants since January 1^st and a total of 25 since its initiation, the momentum of our EFICAS study in France is excellent. We expect to pass the halfway mark of the targeted 52 inclusions in the study very soon, which means we can anticipate completing these inclusions in the first half of 2025. This progress demonstrates that, once introduced to Aeson^®, healthcare professionals rapidly adopt the therapy, which is a positive signal for our ongoing commercial development.

Building on these achievements, on a European network of 42 hospitals trained for commercial implants, on 3 commercially active countries (Germany, Italy, and Poland) and 6 others now ready, as well as on our growing and convincing clinical experience (70 implants carried out since the inception of CARMAT), I am confident that our sales will continue to grow gradually, quarter after quarter; and this, all the more as awareness around Aeson^® is growing, notably driven by spontaneous communication from many centers that have implanted Aeson^®.

I would like to thank our teams for their commitment and determination, and all our shareholders, whose support make these advances possible. More than ever, we remain resolutely committed to making CARMAT a leader in the field of advanced heart failure.”

Videoconference in French on July 9, 2024 at 6:00 pm CEST.

To participate, please register by clicking on this link.

Paris, July 8, 2024 – 7:00 am (CEST)

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), will publish a half-year update on Tuesday, July 9, 2024 before the market opens.

The Company will also hold a videoconference in French on July 9, 2024 at 6:00 pm (CEST).

The presentation, followed by a Q&A session, will be hosted by:

• Stéphane Piat, Chief Executive Officer
• Pascale d’Arbonneau, Chief Financial Officer
• Francesco Arecchi, Director of Global Market Development

You will be able to submit your questions via the videoconferencing platform throughout the presentation.

• Flexible financing of up to 3,500,000 shares over 24 months

• CARMAT to receive immediately €2.2 million under this financing, thus extending the Company’s cash runway until the end of September 2024.

Paris, July 5, 2024 – 6:00 pm (CEST)

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), announces the implementation of an equity financing line with Vester Finance, in the form of a PACEO, for a maximum of 3,500,000 shares (i.e. 9.96% of its current share capital[1]) over a 24-month period.

Stéphane Piat, Chief Executive Officer of CARMAT, comments: “This financing line enables us to immediately extend our cash runway to the end of September 2024, and to benefit from a total amount of around €8 million in potential financing (based on our current share price) over the next 24 months, which gives us useful room for manoeuvre.

Meanwhile, buoyed by the encouraging trend in Aeson® sales since the start of 2024, we also continue to work on securing other financing, in order to strengthen our financial structure and sustain our long-term development, particularly our sales growth.

We are confident in the gradual growth of Aeson® implants and in progressively making our artificial heart a reference therapy for patients suffering from advanced biventricular heart failure, as well as a commercial success.”

^[1] Share capital as of June 30, 2024, on a non-diluted basis.

• Equitization of the first tranche of the EIB loan will reduce its repayment in cash and optimize the Company’s cash position
• Set-up of a trust and issuance of share warrants to the trustee, enabling it to subscribe shares of the Company to be then sold on the market, the proceeds of which being allocated to the repayment of the tranche
  

Paris, June 13, 2024 – 6:00 pm (CEST)

CARMAT (FR0010907956, ALCAR), designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the “Company” or “CARMAT”), today announces the equitization of the first tranche of its loan contracted with the European Investment Bank (EIB) by the set-up of a trust and issuance of share warrants to the trustee.

This implementation is part of the final agreement reached on March 22, 2024 by CARMAT with its financial creditors^[1], including the EIB, on new repayment terms for its bank loans. The terms of the equitization are in all respects similar to those described when the agreement was announced.

Stéphane Piat, CEO of CARMAT, comments: “The equitization of the first tranche of the loan contracted with the EIB is part of the agreement we reached last March with all our financial creditors on the rescheduling of our bank loans and their new  repayment terms.

The effective start of this equitization is an important step and very good news, since it will enable us to significantly reduce the cash repayment of our debt, thereby contributing to contain our funding requirements.

As our cash runway currently extends to mid-August 2024, we continue to work on several options to strengthen our equity and cash position over the coming months; and remain fully mobilized to pursue the commercial development of our therapy, which at this stage is very encouraging.”

[1] Press release March 22, 2024