PRESS RELEASE

Regulated information

09 February 2023, 07:00 am CEST

Ghent, Belgium – 09 February 2023 – Sequana Medical NV (Euronext Brussels: SEQUA) (the “Company” or “Sequana Medical“), a pioneer in the treatment of fluid overload in liver disease, heart failure and cancer, announces today that it received transparency notifications from the shareholders listed below, notifying the number of voting rights attached to shares mentioned next to their respective names in the table below. The transparency notifications were filed following a share transfer on 31 January 2023 pursuant to which NeoMed V (as defined below), a closed-end fund, transferred its aggregate shareholding in the Company to Rosetta Capital (as defined below) within the framework of the winding down of NeoMed V at the end of its fund life. Rosetta Capital is a venture capital firm, based in the United Kingdom, that is focused on the life science and medical device sectors, primarily on direct secondary transactions, with a mission to invest in companies that are able to deliver breakthrough medical advances. NeoMed IV (as defined below) and Rosetta Capital indicated to the Company their intention to remain long-term shareholders, until further notice.

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Notes:

• The total number of outstanding shares of the Company amounts to 23,746,528, each share giving right to one (1) vote (being 23,746,528 voting rights in total).
• Rosetta Capital Ltd (“Rosetta Capital“), a person that notifies alone, informed the Company, by means of a notification dated 6 February 2023, that, on 31 January 2023 Rosetta Capital’s shareholding crossed the threshold of 5% of the outstanding voting rights of the Company (as a result of the aforementioned share transfer from NeoMed V to Rosetta Capital). The notification furthermore specifies that Rosetta Capital is not controlled and acts as the investment manager that can exercise the voting rights at its discretion, in the absence of specific instructions.
• A parent undertaking or a controlling person of NeoMed IV Extension Limited (“NeoMed IV“), NeoMed Innovation V Limited (“NeoMed V“) and NeoMed Management (Jersey) Limited (“NeoMed Management“) informed the Company, by means of a notification dated 6 February 2023, that, on 31 January 2023 the aggregate shareholding of Erik Amble, NeoMed IV and NeoMed V crossed below the threshold of 15% of the outstanding voting rights of the Company (as a result of the aforementioned share transfer from NeoMed V to Rosetta Capital). The notification furthermore specifies that NeoMed IV and NeoMed V are each a private limited company incorporated in Jersey, and are each controlled by their investment manager NeoMed Management (a private limited company incorporated in Jersey) and that NeoMed Management is controlled by Claudio Nessi, Dina Chaya, Erik Amble and Pål Jensen within the meaning of Articles 1:14 and 1:16 of the Belgian Companies and Associations Code. The notification also states that (a) NeoMed IV and NeoMed V do not own the securities of the Company but manage funds that own the voting rights attached to the securities, and (b) as general partners to their funds, NeoMed IV and NeoMed V exercise the voting rights attached to the securities at their discretion in the absence of specific instructions.

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 copies of the aforementioned transparency notifications, 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

Lies Vanneste

Director Investor Relations

E: IR@sequanamedical.com

T: +32 (0)498 053579

Optimum Strategic Communications

Nick Bastin, Jonathan Edwards, Vici Rabbetts

E: Sequana@optimumcomms.com

T: +44 (0) 208 078 4357

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. These patients can have up to 15 liters of extra fluid in their bodies, causing major medical issues including increased mortality, repeated hospitalizations, severe pain, difficult breathing and restricted mobility that severely impacts daily life. Although diuretics are standard of care, the problem is that in many patients they are no longer effective and / or tolerable. There are limited effective treatment options for these patients, 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, delivering major clinical and quality of life benefits for patients and reducing costs for healthcare systems. The Company has reported positive primary endpoint data from the North American pivotal POSEIDON study of the alfapump in recurrent or refractory ascites due to liver cirrhosis, enabling the filing of a Pre-Market Approval (PMA) application with the FDA, planned for H2 2023. Having delivered clinical proof-of-concept for DSR as a disease-modifying drug program for the treatment of heart failure, the Company is planning to commence MOJAVE, a US multi-centered randomized controlled Phase 1/2a clinical study of DSR 2.0, in Q2 2023.

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

Important Regulatory Disclaimers

The alfapump® system is currently not approved in the United States or Canada. In the United States and Canada, the alfapump system is currently under clinical investigation (POSEIDON Study) and is being studied in adult patients with refractory or recurrent ascites due to cirrhosis. For more information regarding the POSEIDON clinical study see www.poseidonstudy.com. DSR® therapy is still in development and it should be noted that any statements regarding safety and efficacy arise from ongoing pre-clinical and clinical investigations which have yet to be completed. DSR therapy is currently not approved for clinical research in the United States or Canada. There is no link between DSR therapy and ongoing investigations with the alfapump system in Europe, the United States or Canada.

Note: alfapump® is a registered trademark. DSR® is a registered trademark in the Benelux, China, the EU, United Kingdom, and Hong Kong.

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.