Introduction

Dear shareholders,

This document contains the consolidated annual report (the “Consolidated Report”) of Biotalys NV (the “Company”) and its subsidiary, Biotalys Inc. (together referred to as the “Group” or “Biotalys”) dra ed in accordance with article 3:32 of the Belgian Code on Companies and Associations (the “BCCA”) in respect of the accounting year ended 31 December 2022. This document also contains the statutory report of the Company in accordance with article 3:6 BCCA (see part “Financial Statements” – chapter “Statutory Report of Biotalys NV in respect of the accounting year 2022 in accordance with article 3:6 of the Belgian Code on Companies and Associations”).

The Consolidated Report covers the entire document except for the chapter dedicated to the statutory report. Both reports have been approved by the board of directors of the Company and are dated 21 March 2023.

According to the European Single Electronic Format issuers on EU regulated markets are required to prepare their annual financial reports in an electronic reporting format with the intention to make reporting easier for issuers and to facilitate accessibility, analysis, and comparability of annual financial reports. This annual report was prepared both in XHTML format (using the Inline XBRL technology, which allows XBRL tagged data) as well as an easily downloadable or printable PDF format. In case of di erence in interpretation, the formal XBRL version shall prevail.

The annual reports contain all required information as per the BCCA. The annual reports have been prepared in Dutch and a translation in English is also available. Only the Dutch version is binding, in case of a conflict between the Dutch and English version, the Dutch version will prevail.

An electronic version of the annual reports is available at h ps://www.biotalys. com/investors/financial-information

The annual reports contain “forward-looking statements” within the meaning of the securities laws of certain jurisdictions, In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “may,” “will,” “plans,” “continue,” “ongoing,” “potential,” “predict,” “project,” “target,” “seek” or “should” or, in each case, their negative or other variations or comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions. These forward-looking statements appear in a number of places throughout the annual reports. Forward-looking statements include statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, its results of operations, prospects, growth, strategies and dividend policy and the industry in which it operates. In particular, certain statements are made in the annual reports regarding the Company’s estimates of future growth.

By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Investors should not place undue reliance on these forward-looking statements. Any forward-looking statements are made only as of the day of the annual reports and the Company does not intend, and does not assume any obligation, to update forward-looking statements set forth in the annual reports, unless required by law. Many factors may cause the results of operations, financial condition, liquidity and the development of the industries in which the Company competes to di er materially from those expressed or implied by the forward-looking statements contained in the annual reports. These risks described under part “Legal and Financial Information” – chapter “Description of the principal risks associated with the activities of the Company” are not exhaustive. New risks can emerge from time to time, and it is not possible for the Company to predict all such risks, nor can it assess the impact of all such risks on the business or the extent to which any risks, or combination of risks and other factors, may cause actual results to di er materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not rely on forward-looking statements as a prediction of actual results.

Reinventing food protection

Our mission is to transform food protection with unique protein-based biocontrol solutions, shaping the future of sustainable and safe food supply.

We develop products to offer farmers reliableand cost-effective tools to prevent crop loss while extending post-harvest protection and reducing food waste.

Based on our groundbreaking technology platform, we are developing a unique pipeline of effective and safe products with novel modes of action, addressing key crop pests and diseases across the whole food value chain.

Biotalys was founded in 2013 as a spin-off from the VIB (Flanders Institute for Biotechnology) and is listed on Euronext Brussels since July 2021. The Company is based in the biotech cluster in Ghent (Belgium) and has a subsidiary in Research Triangle Park (North Carolina, United States).

SAFER FOOD, BETTER PLANET.

Vision, company culture & values

The sustainability of our planet is our highest priority to secure the well-being of our families and future generations. With transformative innovation, we strive to provide safe and sustainable alternatives to protect our food, ensure productivity and quality while preserving our environment, our soils and our health.

As a frontrunner in agricultural innovation, we aim to create choice and value for the growers, the food industry and society. Through excellence in execution, we forge our growth and deliver value for our Company, our employees, our shareholders and customers.

Innovation with Impact Passion Well-being At a glance

The foundation of our ambition comes from the expertise, diversity and passion of our team as well as from the alliances we forge with global partners. Our distinctive power is the solid science of our unique technology platform, which is rooted in nature to deliver high performing biological products. We learn and grow each step of the way. Our collaborative mindset allows us to design today the solutions for the future of a sustainable food production.