Risk Factors Update Summary

• Wholesale acquisition cost for XHANCE increased from $626.82 to $626.82 as of January 1, 2024.
• Reduction in foreign NOL carry forwards from $9 million to $3 million for the Norwegian subsidiary.
• The FDA extended the final report submission deadline for XHANCE from April 2023 to September 2026.
• Operating strategy revised in 2023 to focus on efficiency, reducing expenses by $38 million.
• Reduction in foreign NOL carry forwards from $9 million to $3 million for the UK subsidiary.
• Failure to timely pay a Part D inflation rebate now incurs a civil monetary penalty.
• Sales force reduced from 77 to 75 territory managers targeting 7,000 primary care physicians.
• Reduction in U.S. federal net operating loss carry forwards from approximately $335 million to $360 million.
• The coverage gap program will be replaced by a new manufacturer discount program starting in 2025.
• Reduction in full-time employees from 141 to 132, all in the U.S., with 70% in customer-facing roles.
• The European Commission proposed reforms that may reduce regulatory data exclusivity, impacting XHANCE.
• The FDA extended the PDUFA goal date for XHANCE sNDA from December 2023 to March 2024.
• The FTC initiated actions against improper patent listings in the FDA's Orange Book.
• OptiNose AS was dissolved in October 2023, impacting the company's operations and products.