Carvolix Secures New EUR 10m Tranche, Bringing Total Financing to EUR 20m as Part of its EUR 30m Programme

Carvolix Secures New EUR 10m Tranche, Bringing Total Financing to EUR 20m as Part of its EUR 30m Programme

• Additional EUR 10m tranche marking the renewed confidence of the Company’s strategic shareholders
• Proceeds to support the commercialization of Tavipilot and strategic regulatory and clinical developments
• Cash runway extended to end of September 2026, with a target to extend beyond 12 months through venture debt financing currently under negotiation

Aix-en-Provence, June 24, 2026 – 7:30 a.m. CET – Carvolix (formerly Affluent Medical) (ISIN: FR0013333077 – Ticker: CVX – “Carvolix” or the “Company”), a French commercial- and clinical-stage medical technology company specializing in the international development and industrialization of breakthrough AI-driven mini-robots and biomimetic implants, to revolutionize interventional cardiology and the treatment of brain stroke, is today announcing a €10 million offering reserved to specific categories of investors (the “Transaction”) through the issuance of 2,976,190 new ordinary shares of the Company (the “New Shares”) at a price per New Share of €3.36 (the “Subscription Price”) to the benefit of existing shareholders. The settlement-delivery of the Transaction is expected to take place around June 26, 2026, subject to customary conditions.

The New Shares will be subject to an application for admission to trading on Euronext Paris on the same trading line as the existing shares under the same ISIN code FR0013333077.

Sébastien Ladet, CEO of Carvolix commented: “The renewed commitment from our long-standing shareholders demonstrates their confidence in our roadmap and the innovative nature of our AI-driven robotic platforms. This funding allows us to focus our efforts on the commercialization of Tavipilot in the United States and advancing our roadmap, with key regulatory milestones in the coming quarters. Our conviction remains unchanged: to make our technologies the standard of care for patients requiring cardiovascular and neurovascular procedures.”

Reasons for the Transaction and Use of Proceeds

The Company intends to use the €10 million proceeds of the Transaction to pursue the development of its various products (30% on Tavipilot, 23% on Kalios, 21% on Artus, 19% on Artedrone, 7% on Mitrapilot) and for an amount of €2.5 million to repay a bridge financing made available by funds managed by Truffle Capital.

More specifically, the proceeds will be allocated to finance the following development phases (as described in the Company’s 2025 Universal Registration Document): (i) Tavipilot: US commercial roll-out of the software and FDA clearance process for the robot; (ii) Kalios: Preparing the FDA submission and resuming the European clinical trial with the new supply chain; (iii)

Artus: continuation of validation studies in preparation for a first-in-human trial; (iv) Mitrapilot: adaptation of mitral valve technology to the robotic platform and preclinical demonstration.

Following completion of the Transaction, the Company estimates that its existing cash resources will be sufficient to fund its operations until the end of September 2026.

The Company intends to extend its cash runway through the potential entering into a venture debt facility. The Company is currently negotiating the terms of such facility with several leading European venture debt funds for an amount of approximately €25 million, which would allow the Company to extend its cash runway beyond 12 months from the date of this Transaction. In addition, multiple European and non-European investors have initiated discussions with the Company, following the successful EuroPCR international cardiology conference.

There can be no assurance that the Company will be able to secure the venture debt facility or any other additional financing on acceptable terms, or at all. If the Company is unable to obtain such financing, it may not have sufficient cash resources to fund its operations for a period of at least 12 months, which could have a material adverse effect on its business, financial condition, results of operations and prospects, and could require the Company to delay, reduce, or eliminate certain development programs or operations.

The Company’s financial needs until end of 2027 amount to approximately €78 million, of which €20 million are secured, for product development and market access.

The Company expects to finance the remaining needs through:

• a potential partnership agreement regarding Artus artificial urinary sphincter in H2 2027;
• up to €25 million through a venture debt facility currently under negotiation with a leading European venture debt fund; and
• non-dilutive financings such as BPI.

Upcoming catalysts

Several key catalysts are expected to support market access and commercial ramp-up.

• In Q3 2026:
  • Tavipilot Robot FDA submission
  • Communication of clinical results on Tavipilot Robot
  • Mitrapilot publication of hemodynamic study
• In Q4 2026:
  • CE marking for the Tavipilot software 
  • Tavipilot Robot FDA 510(k) clearance
  • Resumption of the European Kalios clinical trial

Key Characteristics of the Transaction

The New Shares will be issued through a capital increase without shareholders’ preferential subscription rights and reserved to a specified category of investors in accordance with Article L. 225-138 of the French Commercial Code and pursuant to the 20th resolution of the ordinary and extraordinary general meeting held on January 30, 2026 (the “General Meeting”).

The Transaction is being carried out pursuant to the delegation granted by the General Meeting under its 20th resolution, and used by the Board of Directors by a decision dated June 23, 2026, and is reserved to the specific category of investors defined under the 20th resolution of the General Meeting, namely:

1. natural or legal persons, UCITS, or other French or foreign funds investing primarily, or having invested more than EUR 1 million in the 24 months preceding the relevant capital increase, (a) in the Company’s business sector or (b) in growth stocks listed on a regulated market or a multilateral trading facility (such as Euronext Growth) qualifying as “EU SMEs” within the meaning of Annex I to Commission Regulation (EU) No. 651/2014 of June 17, 2014, and/or
2. business angels and family offices, whether French or foreign; and/or
3. one or more strategic partners of the Company, located in France or abroad, having entered into or intending to enter into one or more partnership (development, co-development, distribution, manufacturing, etc.) or commercial agreements with the Company (or a subsidiary) and/or companies they control, that control them, or that are controlled by the same person(s), directly or indirectly, within the meaning of Article L. 233-3 of the French Commercial Code.

The number of ordinary shares to be subscribed, the subscription price and the list of investors that may subscribe were decided by the Company’s Chief Executive Officer, in accordance with a sub-delegation granted by the Company’s Board of Directors on June 23, 2026.

The subscription price of the New Shares was set at EUR 3.36 per New Share, corresponding to the last 30-day VWAP preceding the date the issue price was set (i.e., from May 13, 2026, to June 23, 2026) with no discount, in accordance with the 20th resolution of the General Meeting.

The Company's existing shareholders, Edwards Lifesciences and funds managed by Truffle Capital, each subscribed to the Transaction for an amount of EUR 5 million (corresponding to 1,488,095 New Shares each). Mr. Philippe Pouletty and Mr. Alain Chevallier, affiliated with Truffle Capital, did not participate in the deliberations of the Board of Directors relating to the Transaction.

Settlement and delivery of the New Shares is expected to occur on or about June 26, 2026. As of their delivery, the New Shares will be fully fungible with the Company’s existing shares.

The New Shares will be admitted to trading on Euronext Paris on the same trading line as the existing shares under the same ISIN code FR0013333077.

Impact of the Transaction on Share Capital

Following settlement and delivery, the New Shares will represent approximately 5.02% of the share capital of the Company, and the Company’s total share capital will be EUR 6,222,799, divided into 62,227,990 shares with a nominal value of EUR 0.10 each.

For illustration purposes, a shareholder holding 1% of the Company’s share capital prior to the Transaction will hold approximately 0.95% of the Company’s share capital upon completion of the Transaction.

Evolution of Shareholding Structure Following the Transaction

The shareholding structure of the Company prior to the issuance of the New Shares is set forth below:

(1) The funds and companies managed by Truffle Capital are: FCPI Fortune III, FCPI Truffle Fortune 4, FCPI Truffle Fortune 5, FCPI Truffle Fortune 6, FCPI UFF Innovation No. 12, FCPI UFF Innovation No. 14, FCPI UFF Innovation No. 15, FCPI UFF Innovation No. 16, FCPI UFF Innovation No. 17, FCPI Innocroissance 2015, FCPI Innocroissance 2016, FCPI Innocroissance 2018, FCPI Innocroissance 2019, FCPI Truffle Biomedtech Crossover Fund, FCPI Truffle Innov FRR France, Truffle ISF PME 2017, Meningose, Corazan, and FPCI Truffle Medeor.

(2) Others: Holding Incubatrice Series I, Holding Incubatrice Series II, Hayk Holding, MyoPowers Medical Technologies SA, MitralFlex, Fondation Hôpital Saint-Joseph, Simone Merkle, Kam Lui, Zhu Jin.

(3) Including Sébastien Ladet.

The issuance of the New Shares will have the following impact on the allocation of the share capital and the voting rights of the Company: