^Ad hoc announcement pursuant to Art. 53 LR

Bondholders approve amended terms of the 2024 convertible bonds

* The proposed amendments to the terms of the 2024 convertible bond have been

approved by the bondholders and will become binding and effective upon

approval by the higher cantonal composition authority.

Allschwil, Switzerland - May 6, 2024

Idorsia Ltd. (SIX: IDIA) today announced the positive outcome of a bondholder

meeting held at 17:30 CEST on May 6, 2024. The bondholder meeting for holders of

Idorsia's outstanding 2024 convertible bonds (ISIN: CH0426820350) (the Bonds)

was held to vote on amendments to the terms of the Bonds. 83.5% of the total

outstanding bondholders voted in favor of the amendments proposed by Idorsia -

significantly exceeding the required two thirds majority threshold.

The approved Bond terms include an amended conversion price of CHF 6.00,

extended maturity date of January 17, 2025, and the option to call the Bonds at

par, in full or in part, at any time upon giving ten trading days' notice.

The amendments to the Bond terms become binding and effective upon approval by

the higher cantonal composition authority (obere kantonale Nachlassbehörde).

Idorsia will now file this application.

A consent fee of 8,000,000 Idorsia shares will be delivered through SIX SIS once

the amendment of the Bond terms is effective.

André C. Muller, Chief Financial Officer, commented:

"On behalf of Idorsia's management and Board, I thank the bondholders for

approving the amendments we proposed. Securing the restructuring of the 2024

convertible bond gives bondholders the potential to participate in the long-term

path of Idorsia by becoming shareholders at a much lower conversion price than

originally agreed during the bond placing and gives the company the flexibility

to secure other funding avenues, avoiding potential liquidity constraints in

connection with the redemption of the Bonds."

Notes to the editor

About Idorsia

Idorsia Ltd is reaching out for more - We have more ideas, we see more

opportunities and we want to help more patients. In order to achieve this, we

will develop Idorsia into a leading biopharmaceutical company, with a strong

scientific core.

Headquartered near Basel, Switzerland - a European biotech-hub - Idorsia is

specialized in the discovery, development and commercialization of small

molecules to transform the horizon of therapeutic options. Idorsia has a 25-year

heritage of drug discovery, a broad portfolio of innovative drugs in the

pipeline, an experienced team of professionals covering all disciplines from

bench to bedside, and commercial operations in Europe and North America - the

ideal constellation for bringing innovative medicines to patients.

Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017

and has over 750 highly qualified specialists dedicated to realizing our

ambitious targets.

For further information, please contact

Andrew C. Weiss

Senior Vice President, Head of Investor Relations & Corporate Communications

Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil

+41 58 844 10 10

investor.relations@idorsia.com

media.relations@idorsia.com (mailto:media.relations@idorsia.com)

www.idorsia.com (http://www.idorsia.com)

The above information contains certain "forward-looking statements", relating to

the company's business, which can be identified by the use of forward-looking

terminology such as "estimates", "believes", "expects", "may", "are expected

to", "will", "will continue", "should", "would be", "seeks", "pending" or

"anticipates" or similar expressions, or by discussions of strategy, plans or

intentions. Such statements include descriptions of the company's investment and

research and development programs and anticipated expenditures in connection

therewith, descriptions of new products expected to be introduced by the company

and anticipated customer demand for such products and products in the company's

existing portfolio. Such statements reflect the current views of the company

with respect to future events and are subject to certain risks, uncertainties

and assumptions. Many factors could cause the actual results, performance or

achievements of the company to be materially different from any future results,

performances or achievements that may be expressed or implied by such forward-

looking statements. Should one or more of these risks or uncertainties

materialize, or should underlying assumptions prove incorrect, actual results

may vary materially from those described herein as anticipated, believed,

estimated or expected.

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