Notes regarding the information on the following webpages

THE INFORMATION CONTAINED ON THE FOLLOWING INTERNET PAGES IS NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL.
The shares of Biofrontera AG and the securities that are the subject of the offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered or sold or delivered within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act or applicable state securities laws. Biofrontera AG does not intend to register the offering or any portion thereof in the United States.

The subscription offer contained on the following Internet pages is directed exclusively at existing shareholders of Biofrontera AG.

The subscription of shares in the company is associated with risks and should therefore only be made with the conscious acceptance of these risks. The subscription offer is made in the form of a subscription offer pursuant to Section 3 No. 1 WpPG in conjunction with Art. 3 para. 2 WpPG. Art. 3 para. 2 of Regulation (EU) 2017/1129 ("Prospectus Regulation") in the Federal Republic of Germany without a prospectus. The company will therefore not prepare and publish a securities prospectus in relation to the capital increase and the related subscription offer. Such a securities prospectus is therefore not available as an information basis for the subscription or acquisition of the New Shares. Nor is a securities information sheet pursuant to Section 4 WpPG to be prepared and published. Before submitting a subscription declaration, an oversubscription request and/or an acquisition of New Shares or subscription rights, those entitled to subscribe are advised to carefully read the company's current reporting, in particular financial reports and financial announcements. This information is available on the company's website (www.biofrontera.com) in the Investors & Media section. Those entitled to subscribe are also recommended to seek independent advice, if necessary, in order to obtain an expert assessment of the subscription offer. In view of the current high volatility of the share prices and the market environment as well as the conversion of the quotation to the converted shares, the beneficiaries should inform themselves about the current share price of the company before exercising or purchasing subscription rights to the New Shares at the subscription price.

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