DBV Technologies S.A.

Note 1 Nature of the business and principles and accounting methods

Incorporated in 2002 under the laws of France, DBV Technologies S.A. (“DBV Technologies,” or the “Company”, “we”, or the “group”) is a late-stage specialty biopharmaceutical company focused on changing the field of immunotherapy by developing a novel technology platform called Viaskin. The Company’s therapeutic approach is based on epicutaneous immunotherapy (“EPIT”), a proprietary method of delivering biologically active compounds to the immune system through intact skin using Viaskin.

Basis of Presentation

The condensed consolidated financial statements of the Company and its wholly-owned subsidiaries are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and are presented in U.S. dollars. All intercompany accounts and transactions between the Company and its subsidiaries have been eliminated on consolidation.

The unaudited condensed consolidated financial statements presented in this Quarterly Report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 26, 2026, as amended by Amendment No. 1 on Form 10-K/A filed with the SEC on April 30, 2026. The condensed consolidated statement of financial position as of December 31, 2025 was derived from the audited consolidated financial statements but does not include all disclosures required by U.S. GAAP. The Company’s critical accounting policies are detailed in the Annual Report. The Company’s critical accounting policies have not changed materially since December 31, 2025.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. However, these condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period. These interim financial results are not necessarily indicative of results to be expected for the full fiscal year ending December 31, 2026, or any other future period.

The Company presents all financial statement amounts in millions. This presentation has been applied consistently to all periods presented, with prior‑period amounts presented on the same basis. No rounding adjustments were required, and the change did not affect comparability.

Recently Adopted Accounting Pronouncements

There have been no recently issued accounting standards which had a material impact on our results of operations, financial condition, or cash flows.

Accounting Pronouncements Issued Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income Topic 220 — Expense Disaggregation Disclosures. The guidance requires disclosure of additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. The disclosure requirements will be applied on a prospective basis, with the option to apply it retrospectively. For SEC filers, this ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Management evaluated the impact of adopting ASU 2024‑03 and determined that its adoption will result on expanded disclosures on the Company’s consolidated financial statements.

In December 2025, the FASB issued ASU 2025‑12, Codification Improvements, which includes a series of technical corrections, clarifications, and minor improvements to existing guidance across various Topics in the FASB Accounting Standards Codification. The amendments are not expected to significantly affect current accounting practices. ASU 2025‑12 is effective for annual and interim reporting periods beginning after December 15, 2026. The Company does not expect the adoption of ASU 2025-12 to have a material impact on its consolidated financial statements.

In December 2025, the FASB also issued ASU 2025‑11, Interim Reporting (Topic 270): Narrow‑Scope Improvements, which clarifies the scope and applicability of interim reporting guidance, enhances the organization and navigability of required interim disclosures, and introduces a disclosure principle requiring entities to disclose material events or changes that occur after the most recent annual reporting period. For public business entities, the ASU is effective for interim reporting periods in fiscal years beginning after December 15, 2027 with early adoption permitted. The Company does not expect ASU 2025-11 to have a material impact on its interim consolidated financial statements.

In December 2025, the FASB issued ASU 2025‑10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which establishes authoritative U.S. GAAP guidance for the recognition, measurement, presentation, and disclosure of government grants received by business entities. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2028, including interim periods within those annual periods, with early adoption permitted. The Company does not expect ASU 2025-10 to have a material impact on its consolidated financial statements.

In April 2026, the FASB issued ASU 2026‑01, Equity (Topic 505): Initial Measurement of Paid‑in‑Kind Dividends on Equity‑Classified Preferred Stock. The ASU provides authoritative guidance on the initial measurement of paid‑in‑kind (“PIK”) dividends issued on equity‑classified preferred stock, addressing diversity in practice. Under the amendments, PIK dividends are required to be initially measured based on the PIK dividend rate stated in the preferred stock agreement, typically applied to the liquidation value of the preferred stock outstanding. The guidance does not affect the determination of when PIK dividends are recognized. The ASU is effective for annual reporting periods beginning after December 15, 2026, including interim periods within those fiscal years, with early adoption permitted. The amendments may be applied on either a prospective basis or a modified retrospective basis. The Company does not expect ASU 2026-01 to have a material impact on its consolidated financial statements.

In May 2026, the FASB issued ASU 2026‑02, introducing a comprehensive framework for the accounting of environmental credits and related obligations. The standard requires entities to recognize environmental credits as assets only when it is probable that they will be used to settle obligations or otherwise transferred, with all other credits expensed as incurred. Measurement is primarily based on cost, with subsequent accounting depending on the intended use of the credits. The ASU also establishes a liability model for environmental credit obligations, measured based on available credits (funded portion) or the cost or fair value of credits to be acquired (unfunded portion). The guidance is effective for public business entities for fiscal years beginning after December 15, 2027, with early adoption permitted. The Company does not expect ASU 2026-02 to have a material impact on its consolidated financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s consolidated financial statements upon adoption.

Use of estimates

The preparation of the Company’s condensed consolidated financial statements requires the use of estimates, assumptions and judgments that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of income and expenses during the period. The estimates and assumptions, developed based on the information available at the time of closing the accounts, particularly relate to:

•The assessment of the fair value of equity-settled share-based compensation plans granted to employees and/or executives, which is performed using actuarial models. These models require the Company to use certain calculation assumptions, such as the expected volatility of the share price and the estimated timing of achieving performance conditions over the vesting period of the share-based compensation plan;

•The evaluation of the amount of the Research Tax Credit, which is based on eligible internal and external research expenses incurred by the Company during the fiscal year. Only eligible research expenditures are included in the calculation of the Research Tax Credit;

•The recoverability of the Company’s net deferred tax assets and related valuation allowance;

•The assumptions used in the valuation of right-of-use assets & operating leases; and

•The estimate of provisions and contingencies.

The final amounts may differ from these estimates. Management is also required to exercise judgment in the following area:

Going Concern

These condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for at least twelve months from the date of issuance of these condensed consolidated financial statements.

The Company has incurred operating losses and negative cash flows from operations since inception and expects operating cash outflows to remain significant as it continues to invest in clinical development, regulatory activities, manufacturing and supply-chain readiness and preparations for the potential commercialization of VIASKIN Peanut patch, if approved. Net cash used in operating & investing activities was $159.4 million for the nine months ended September 30, 2026, compared to $86.7 million for the nine months ended September 30, 2025, reflecting the continued advancement of these activities and the expansion of the Company’s organization.

As of September 30, 2026, the Company had cash and cash equivalents of $165.7 million. During the third quarter of 2026, the Company achieved significant regulatory and financing milestones, including the submission of its BLA for VIASKIN Peanut patch in children ages 4 through 7 on September 29, 2026, for which the Company requested Priority Review, and the completion of a sale of $50.0 million in gross proceeds of ADSs under its ATM Program announced by the Company in July 2026. Following the BLA submission, management updated the Company’s operating and liquidity forecasts to reflect the potential regulatory review pathway and the anticipated timing of related clinical, regulatory, manufacturing and commercial readiness activities. The Company’s forecasts incorporate milestone-based spending assumptions designed to align the timing of certain expenditures with potential regulatory developments while continuing to advance activities necessary to support regulatory review and potential commercialization of VIASKIN Peanut patch in children ages 4 through 7, if approved. Based on its current operations, plans and assumptions, the Company estimates that its existing cash and cash equivalents will be sufficient to fund operations into the third quarter of 2027.

As such, Management has concluded that the Company's existing cash and cash equivalents are not sufficient to fund its operations for at least twelve months from the date of issuance of these interim condensed consolidated financial statements. Accordingly, substantial doubt exists about the Company's ability to continue as a going concern within twelve months after the date these condensed consolidated financial statements are issued.

The Company will require additional capital to fund its operations. Management is actively evaluating multiple financing alternatives, including, without limitation, potential additional sales under the Company’s existing ATM Program, equity transactions, warrants exercise and other alternative forms of financing. The Company’s continued advancement through the regulatory review process may provide additional financing opportunities. However, the availability, timing and terms of any additional financing will depend on regulatory developments, market conditions and investors’ interest, lenders and other counterparties, and there can be no assurance that additional financing will be available when needed, on acceptable terms or at all.

These estimates are based on the Company’s current forecasts and exclude additional expenditures related to programs other than VIASKIN Peanut patch or resulting from the potential in-licensing or acquisition of additional product candidates or technologies. The timing and amount of the Company’s future cash requirements may differ materially from current estimates depending on, among other factors, the timing and outcome of the regulatory review process, the pace of clinical development activities, manufacturing and supply-chain commitments, commercial readiness activities and foreign exchange rate fluctuations. These condensed consolidated financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities or reported expenses that may be necessary if the Company were unable to continue as a going concern.

Significant contracts

In March 2025, the Company completed a private investment in public equity financing generating initial gross proceeds of $125.5 million (€116.3 million) received on April 7, 2025 (“March 2025 PIPE Financing”). Following the announcement of positive VITESSE topline results on December 16, 2025, the warrants issued in connection with the March 2025 PIPE Financing were fully exercised, resulting in additional gross proceeds of $195.4 million (€166.7 million at the exchange rate of 1 EUR = $1.17), of which $100.7 million (€85.7 million) was received in the fourth quarter of 2025 and $94.7 million (€81.0 million) was received in January 2026.

The pre-funded warrants issued in connection with the March 2025 PIPE Financing were classified as equity under ASC 480 and ASC 815. Upon exercise, the par value of the newly issued common stocks was recorded in “Common stock” and any additional amount, including the exercise price paid and the remaining carrying amount of the warrants, was recorded in “Additional paid-in capital”. No gain or loss was recognized in the Consolidated Statements of Operations and Comprehensive Loss as the warrants were classified as equity from inception.

Fareva La Vallée - Manufacturing Infrastructure Agreements

The Company entered strategic manufacturing arrangements with Fareva La Vallée ("FLV") to secure dedicated manufacturing capacity for both Peanut Source Material ("PSM") and Peanut Drug Substance ("PDS"), supporting the future commercial supply chain for VIASKIN Peanut.

Peanut Source Material

On March 17, 2026, the Company entered into a Manufacturing and Supply Agreement (the “MS Agreement”) with FLV, under which FLV will manufacture and supply the VIASKIN PSM, exclusively for the Company during the MS Agreement term. The term is effective for a period of eight (8) years and can be renewed for a period of two (2) years.

The MS Agreement is subsequent to the Service Agreement that the Company entered into with FLV on March 18, 2024 (the “PSM Services Agreement”), for the construction of a dedicated production line and facility and the transfer of manufacturing of the PSM to FLV required to produce VIASKIN Peanut patches. The PSM Services Agreement also included binding commercial terms which were incorporated into the MS Agreement.

The PSM Services Agreement includes the following services (i) construction activities, (ii) the acquisition of equipment, and (iii) the cGMP qualification of a dedicated PSM production line installed at FLV’s premises. The Company has funded capital expenditures amounting to $4.1 million(at the exchange rate of 1€ = $1.14), granting access to preferential pricing and to an exclusively dedicated PSM production line located at FLV’s facilities, while ownership of the line remains with FLV.

Peanut Drug Substance

On July 8, 2026, the Company entered into a PDS Services Agreement and Binding Commercial Term Sheet with FLV relating to the construction development, installation and qualification of a dedicated PDS manufacturing line, as well as related transfer services for technical and validation batches.

The PDS facility services are expected to be completed no later than September 30, 2027, and the transfer services no later than September 1, 2028. The Company’s commitments under the agreement include PDS facility services fees capped at $3.9 million (at the exchange rate of 1€ = $1.14), of which the Company funded $3.3 million (at the exchange rate of 1€ = $1.14). These fees, exclude certain capital expenditures directly supported by the Company, and transfer services fees are capped at $3.2 million (at the exchange rate of 1€ = $1.14). The agreement also includes binding commercial terms expected to be incorporated into a future definitive manufacturing and supply agreement.

Accounting Treatment

Management has concluded that both the PSM and PDS arrangements contain embedded leases within the scope of ASC 842, Leases, based on the following considerations:

•Identified asset: The dedicated PSM & PDS production lines are identified assets, and FLV does not have substitution rights.

•Control of use: The Company has (i) the right to obtain substantially all of the economic benefits from use of the asset, through exclusive access to the production capacity, and (ii) the right to direct the use of the asset, including decision‑making authority over relevant activities such as production volumes, scheduling, and operating methods.

In accordance with ASC 842‑10‑25‑2, the right‑of‑use assets will be recognized at the lease commencement date, defined as the date on which the production lines are made available for use following completion of cGMP qualification. At this stage, the Company has identified the embedded leases, the separation of lease and non‑lease components of the arrangements, and the reclassification of the payment related to the exclusive access right as prepaid rent under ASC 842 (Other non-current assets). Subsequent to September 30, 2026, the first commercial PSM batch was successfully manufactured by FLV and incorporated into the pre-commercial inventory. Accordingly, management expects lease commencement to occur during the fourth quarter of 2026 and amortization of the PSM right-of-use asset to begin during the fourth quarter of 2026.

Under the PSM Manufacturing and Supply Agreement, the Company is subject to minimum purchase commitments tied to the commercial supply of PSM. Specifically, if cumulative commercial orders are below 940 kilograms at the end of the 36-month period following delivery of the first commercial batch, the Company may be required to compensate FLV for the shortfall, subject to a contractual cap of $0.6 million (at the exchange rate of 1€ = $1.14). Based on management's operational forecasts as of September 30, 2026, the Company expects to meet the purchase obligations and therefore did not record any liability or accrual related to these commitments

Note 2 Significant Events and Transactions

Amendment to the Letter of intent signed with Fareva Amboise

On September 30, 2026, the Company entered into Amendment No. 1 to its June 25, 2026 Letter of Intent with Fareva Amboise concerning manufacturing readiness activities supporting the future commercial-scale manufacture of the VIASKIN Peanut patch. The planned investment is estimated at $5.5 million (at the exchange rate of 1€ = $1.14). Under the amendment, the Company's $1.1 million (at the exchange rate of 1€ = $1.14) upfront contribution to this project was modified such that payment is no longer contingent upon FDA approval of the Company's Biologics License Application. Instead, payment is contingent upon the successful completion of an independent Mock Pre-Approval Inspection, including the absence of critical findings or repeat observations and remediation of all findings by February 1, 2027.

In addition, the amendment finalized and secured the workforce expansion component of the project, including training and extended readiness activities. These personnel are dedicated to supporting industrial ramp-up, execution of the remediation plan and commercial manufacturing preparedness. The parties continue to negotiate a definitive commercial manufacturing and supply agreement. The Company expects the amended arrangement to support the timely execution of manufacturing readiness activities and further prepares the Amboise facility for future commercial production of VIASKIN® Peanut, if approved, including activities necessary to support a successful FDA pre-approval inspection.

Submission of BLA FDA for the VIASKIN® Peanut Patch in Children Aged 4-7 Years

On September 29, 2026, the Company announced the submission of a BLA to FDA seeking approval of the VIASKIN® Peanut patch for the treatment of peanut allergy in children aged 4 through 7 years. The submission is supported by data from the Phase 3 VITESSE study, a randomized, double-blind, placebo-controlled trial, which enrolled 654 children. The Company has requested Priority Review designation, which, if granted, would reduce the standard review period fromten tosix months. The FDA has 60 days from the submission date to determine whether the BLA is sufficiently complete to permit substantive review, following which the Company anticipates receipt of a Prescription Drug User Fee Act (“PDUFA”) target action date. The BLA filing represents a significant regulatory milestone and an important step toward the potential commercialization of VIASKIN Peanut patch in the United States. There can be no assurance that the FDA will accept the BLA for filing, grant Priority Review, or ultimately approve the VIASKIN Peanut patch.

In connection with the BLA submission, $4.7 million of previously deferred BLA-related costs were recognized as research and development expense during the quarter.

Shelf Registration Statement, ATM Program Refresh and Sale of $50 million in gross proceeds under ATM Program

On July 27, 2026, the Company filed an automatically effective shelf registration statement on Form S-3 ASR with the SEC. The shelf registration statement permits the Company to sell, from time to time, ordinary shares, American Depositary Shares (“ADSs”) representing ordinary shares and warrants. At the time of filing the shelf registration statement, the Company also filed a prospectus supplement with the SEC authorizing the sale of up to $150.0 million of ADSs under its existing at-the-market offering program (the "ATM Program") and shelf registration statement. On August 3, 2026, the Company announced the sale of $50.0 million in gross proceeds of ADSs to RA Capital Management, L.P. under the ATM Program. In connection with this transaction, the Company issued 18,288,220 new ordinary shares, underlying 3,657,644 new ADSs, at an at-the-market price of $13.67 per ADS.

The net proceeds from the offering were recorded as an increase to shareholders' equity, net of issuance costs, in the condensed consolidated statements of financial position.

Services Agreement with Fareva La Vallée - Peanut Drug Substance

On July 8, 2026, the Company entered into a PDS Services Agreement and Binding Commercial Term Sheet with FLV relating to the construction development, installation and qualification of a dedicated PDS manufacturing line, as well as related transfer services for technical and validation batches.

Letter of intent signed with Integrated Commercialization Solutions

On June 5, 2026, the Company entered into a Letter of Intent with Integrated Commercialization Solutions, LLC ("ICS") in connection with future commercialization support and distribution services for the VIASKIN Peanut patch in the United States, if approved. Under the letter of intent, the parties agreed to undertake certain preliminary launch readiness and implementation planning activities while continuing negotiations toward a definitive commercial outsourcing services agreement. The contemplated activities include operational planning, systems readiness, distribution infrastructure preparation and other commercialization support services intended to facilitate a potential future product launch, if approved.

As of September 30, 2026, negotiations of the definitive agreement remained ongoing and no material amounts had been incurred by the Company under the letter of intent. Management expects execution of the definitive agreement by the end of 2026. Accordingly, the arrangement has no material impact on the Company's condensed consolidated financial statements as of September 30, 2026.

Manufacturing Supply Agreement (Peanut Source Material) with Fareva La Vallée

On March 17, 2026, the Company entered into the MS Agreement with FLV, under which FLV will manufacture and supply the PSM exclusively for DBV Technologies S.A. during the agreement term. The term is effective for a period of eight (8) years and can be renewed for a period of two (2) years.

On January 16, 2026, the Company received the supplemental gross proceeds of $94.7 million (€81.0 million) resulting in the full exercise of the warrants to purchase 34,090,004 new shares at a par value of €0.10 (the “ABSA Warrants”) and of the warrants to subscribe for 1.75 shares of the Company (the “BS Warrants”) issued in the March 2025 PIPE Financing.

Administrative Proceedings

During the second quarter of 2026, the Company received notice from the French tax authorities of a routine, not-for-cause tax audit covering fiscal years 2022 through 2025. During the third quarter of 2026, the Company addressed and resolved all matters raised to date by the tax authorities. The audit remains ongoing, and the Company continues to cooperate fully with the Tax administration.

Note 3 Cash and Cash Equivalents

The following tables summarize the Cash and Cash Equivalents as of September 30, 2026 and December 31, 2025:

Cash and cash equivalents totaled $165.7 million and $194.2 million as of September 30, 2026 and December 31, 2025, respectively.

During the period, the Company raised capital throughtwo equity transactions. In July 2026, the Company announced $50.0 million in gross proceeds from the sale of American Depositary Shares (ADSs) to RA Capital Management, L.P. under the At-the-Market (ATM) Program. Additionally, in January 2026, the Company received $94.7 million in gross proceeds resulting from the acceleration and full exercise of the ABSA Warrants and BS Warrants originally issued in connection with the March 2025 PIPE Financing. The proceeds from both equity transactions supported the Company's operating and investing activities during the period.

As of September 30, 2026 cash equivalents totaled $110.7 million, compared to $67.1 million as of December 31, 2025. Cash equivalents consist primarily of short-term interest-bearing deposits with original maturities of three months or less when purchased. Management considers all investments to be readily convertible into known amounts of cash and subject to an insignificant risk of changes in value. Accordingly, they are classified as cash equivalents.

The Company actively manages its liquidity by investing excess cash balances in highly liquid, low-risk instruments while maintaining sufficient flexibility to fund operating activities, clinical development programs, manufacturing and supply-chain readiness activities, and potential commercial launch preparations.

Note 4 Property, Plant & Equipment

Property and equipment, net consisted of the following:

The increase in Property, Plant & Equipment for $3.3 million is driven by additions relating to ongoing Capacity expansion projects.

The depreciation and amortization expense for September 30, 2026 was $1.8 million.

Note 5 Other Current & Non Current Assets

The following tables summarize the Other Current & Non Current Assets as of September 30, 2026 and December 31, 2025:

Prepaid Right of Use Asset

The $7.4 million included the $4.1 million prepaid rent of the dedicated PSM production line and the $3.3 million prepaid rent of the dedicated PDS production line located at Fareva La Vallée’s facilities.

The right‑of‑use assets will be recognized when the production line is made available for use following completion of cGMP qualification.

Research tax credit

In the fiscal year ended December 31, 2021, the Company recovered its Small & Medium Enterprise “SME” status under EU law, and became therefore eligible again for the immediate reimbursement of the Research Tax Credit. The Company received payment of the 2025 Research Tax Credit, of $5.6 million during the fourth quarter of 2026.

VAT Assets

Value-added tax (“VAT”) receivables primarily consisted of recoverable value-added taxes incurred on purchases and operating expenditures. The balance increased during the period, reflecting the receipt of VAT refunds from tax authorities related to previously submitted claims, partially offset by VAT generated from the Company’s ongoing operating, clinical development and commercial readiness activities.

Prepaid and deferred expenses & Other receivables

Prepaid expenses & other receivables primarily consisted of $1.7 million related to directors' and officers' liability insurance coverage for the 2026–2027 policy period and $1.4 million of receivables arising from credit notes issued by contract research organizations ("CROs").

Note 6 Lease contracts

Right of use Assets

Operating leases' liabilities

Future minimum lease payments under the Company’s operating leases’ right of use as of September 30, 2026 and December 31, 2025 are as follows:

During the nine months ended September 30, 2026, the Company commenced a new operating lease for office facilities in Warren, New Jersey with an initial lease term of 45 months. Upon commencement, the Company recognized $1.9 million of operating lease liabilities and corresponding right-of-use assets. The lease provides for $0.6 million of landlord incentives, including tenant improvement allowances and rent credits, which reduced the initial carrying amount of the right-of-use asset.

The Company recognizes rent expense, calculated as the remaining cost of the lease allocated over the remaining lease term on a straight-line basis. Rent expense presented in the consolidated statement of operations and comprehensive loss was:

Note 7 Trade Payables and Other Current Liabilities

Trade Payables

Trade payables increased from $40.9 million as of December 31, 2025 to $42.0 million as of September 30, 2026, reflecting higher activity (COMFORT Toddlers, the BLA and launch readiness), partly offset by the settlement of the PIPE transaction costs accrued at year-end 2025.

The following table summarizes the other liabilities as of September 30, 2026 and December 31, 2025:

Other current liabilities decreased from $15.8 million as of December 31, 2025 to $15.3 million as of September 30, 2026. The decrease was primarily driven by the payment during the first half of 2026 of annual bonuses and other employee-related accruals recorded at year-end 2025. This decrease was partially offset by the accrual of current-year compensation and benefit expenses associated with continued headcount growth, to support BLA readiness activities and commercialization preparations.

Note 8 Shareholders’ equity

The share capital as of September 30, 2026 is set at the sum of €31,438,880.70 ($36,064,786.19 converted at historical rates). It is divided into 314,388,807 fully authorized, subscribed and paid-up ordinary shares with a par value of €0.10.

At the Annual General Meeting held on June 3, 2026 (the “General Meeting”), shareholders approved the allocation of the Company's accumulated deficit of $220,838,268 (€190,148,327) against additional paid-in capital (share premium).

The table below presents the changes in the share capital of the Company as of September 30, 2026 compared to December 31, 2025 at historical rate:

Note 9 Fair Value Measurement

The Company reports assets and liabilities recorded at fair value on the Company’s condensed consolidated balance sheets based upon the level of judgment associated with inputs used to measure their fair value.

The fair value measurement level within the fair value hierarchy for a particular asset or liability is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs.

Financial instruments not measured at fair value on the Company’s consolidated statement of financial position, but which require disclosure of their fair values include cash and cash equivalents, deposits, liquidity contract, accounts payable, and conditional advances. The fair values of these financial instruments are deemed to approximate their carrying amount.

There has been no transfer between levels of the fair value hierarchy and no change from the consolidated balance sheets ended December 31, 2025.

Derivative Instruments

The Company is exposed to increasing foreign exchange risk due to a portion of its procurement activities being conducted in the United States and invoiced in U.S. dollars, as well as through the activity of its subsidiary DBV Technologies Inc., in connection with the Company’s preparation for the potential launch of the VIASKIN Peanut patch in the United States, if approved.

This exposure has been increased by the continued depreciation of the U.S. dollar observed over the past year.

In this context, since 2025, the Company has hedged the current account of its US subsidiary through the use of financial instruments (foreign exchange swaps entered into with banking counterparties), which are linked to the subsidiary’s current account as of September 30, 2026.

The Company’s policy is not to enter into derivative transactions for speculative purposes.

*Forward sale at maturity

The Company's foreign currency swap arrangements do not qualify for hedge accounting. Accordingly, gains and losses arising from changes in fair value are recognized immediately within “Foreign exchange gains/(losses) (excluding operating activities)” in financial income (expense).

The fair value liability wasnil for the nine months ended September 30, 2026, compared with a loss of $5 thousand for the year ended December 31, 2025.

Note 10 Share-Based Payments

The Board of Directors was authorized at the General Meeting to grant restricted stock units (“RSU”), stock options plan (“SO”), and non-employee warrants (Bons de Souscription d’Actions or “BSA”).

There were no changes during the period in the valuation methodologies, vesting terms or accounting policies applicable to the Company’s share-based awards from those disclosed in Note 11 to the consolidated financial statements included in the Annual Report.

During the nine months ended September 30, 2026, the Company grantedtwo special performance-based stock unit awards to its Chief Executive Officer, representing an aggregate of up to 5,800,000 RSUs. The awards were granted intwo tranches, consisting of 1,740,000 RSUs granted on May 5, 2026 and 4,060,000 RSUs granted on June 5, 2026. The RSUs are subject to a continued presence condition through July 1, 2028 and to performance conditions based on specified VIASKIN® Peanut regulatory milestones. The May 5, 2026 grant is linked to FDA acceptance for review of the applicable VIASKIN® Peanut BLA, with 870,000 RSUs allocated to children aged 4 to 7 years old and 870,000 RSUs allocated to the toddlers aged 1 to 3 years old, or 1,740,000 RSUs if a single BLA covering both age groups is accepted for review.

The June 5, 2026 grant is linked to FDA approval of VIASKIN® Peanut, with 2,900,000 RSUs allocated to the first FDA approval and 1,160,000 RSUs allocated to a second FDA approval, or 4,060,000 RSUs if a single BLA covering both age groups is approved. Vested shares are delivered infour installments through July 1, 2028. The Company recognizes compensation expense for these awards based on the grant-date fair value and its assessment of the probability of achieving the applicable performance conditions.

Changes in outstanding BSAs, stock options and RSUs during the period were as follows:

During the nine months ended September 30, 2026, the Company granted 1.1 million SOs and 6.5 million RSUs, including CEO special grants as described above.

As a result, outstanding RSUs and SOs increased to 10.0 million and 15.0 million, respectively, as of September 30, 2026, partially offset by 90,752 exercises or releases,210,775 forfeitures, and 59,500 expirations during the period.

Share-based payments expense reflected in the condensed consolidated statements of operations is as follows:

Note 11 Contingencies & Employee Benefits

The following tables summarize contingencies as of September 30, 2026 and December 31, 2025:

The changes in contingencies are as follows:

The Company does not hold any plan assets related to long-term employee benefit for any of the periods presented. There have been no significant changes in assumptions for the estimation of the retirement commitments from those disclosed in Note 12 to the consolidated financial statements included in the Annual Report.

Note 12 Operating income

The following table summarizes the operating income during the three and nine months ended September 30, 2026 and 2025:

During the nine months ended September 30, 2026, the Company accrued $3.1 million of research tax credit. The tax credit income accrual reflects the expected level on a full year basis of eligible experimental activities, as the Company’s focus continues to shift from clinical development toward commercial readiness activities.

Note 13 Allocation of Personnel Expenses

The Company had an average of 179 employees during the nine months ended September 30, 2026, compared to an average of 117 employees during the nine months ended September 30, 2025.

The following table summarizes the allocation of personnel expenses by function during the nine months ended September 30, 2026 and 2025:

The following table summarizes the allocation of personnel expenses by nature during the nine months ended September 30, 2026 and 2025:

Personnel expenses for the period ended September 30, 2026, increased by $23.7 million compared to the nine months ended September 30, 2025 and by $9.3 million compared to the three months ended September 30, 2025.

The increase in personnel expenses reflected the Company's continued investment in advancing VIASKIN® Peanut toward potential commercialization. Additional financing completed during 2026 enabled further organizational expansion and commercial readiness, including third-quarter interactions with the FDA, the submission of the BLA for VIASKIN® Peanut in children ages 4 through 7 on September 29, 2026, and preparation for a potential commercial launch, if approved.

Note 14 Commitments

In the ordinary course of business, the Company enters into agreements with Contract Research Organizations ("CROs"), Contract Manufacturing Organizations ("CMOs") and strategic manufacturing partners. Certain arrangements include non-cancellable purchase commitments and minimum purchase obligations extending beyond the current reporting period. These commitments are generally not recognized in the consolidated balance sheet until the related goods or services are received, unless recognition of a liability is required under applicable U.S. GAAP, including when a loss contingency is probable and reasonably estimable.

The following table presents our material expenses commitments for future periods:

Clinical development commitments primarily represent remaining contractual obligations under agreements with contract research organizations and other service providers supporting the Company’s clinical programs, including amounts committed under executed change orders.

Manufacturing and supply commitments primarily represent obligations under the Company’s strategic manufacturing arrangements with Sanofi and Fareva supporting clinical, regulatory and potential commercial supply of VIASKIN® Peanut. These commitments include the Company’s arrangements with Fareva Amboise related to manufacturing readiness and dedicated production capacity, including the Letter of Intent, as amended, and the amendment to the Services Agreement covering additional production batches. They also include the PDS Services Agreement and related Binding Commercial Term Sheet with Fareva La Vallée for the establishment of dedicated PDS manufacturing capabilities and associated transfer services, as well as the Company’s other contractual manufacturing and supply obligations with Sanofi and Fareva.

Letter of Credit and Collateral

A Certificate of Deposit, for an initial amount of $0.3 million was signed in order to guarantee an American Express credit cards program in the United States.

Note 15 Relationships with Related Parties

During the nine months ended September 30, 2026, the Company identifiedtwo significant related-party transactions.

•The first transaction relates to the $5.0 million capital contribution made by DBV Technologies S.A. to its wholly-owned subsidiary, DBV Technologies Inc. The contribution was made to support the subsidiary's operating activities and was accounted for as an equity contribution between entities under common control. As a result, the transaction had no impact on the Company's consolidated financial statements.

•The second transaction relates to special performance-based restricted stock unit awards granted to the Company's Chief Executive Officer. The award is subject to both continued service and specified performance conditions tied to regulatory milestones associated with VIASKIN® Peanut. The award was approved by the Board of Directors upon recommendation of the Compensation Committee and is accounted for as a share-based payment arrangement. Additional information regarding the award is included in Note 10 - Share-Based Payments.

Other than the transactions described above, there were no material changes in the nature of the related-party transactions disclosed in Note 17 to the consolidated financial statements included in the Annual Report.

The compensation amounts presented below, which were awarded to the Directors and Officers of the Company totaled $13.2 million.

Share-based payments to directors and officers are described in Note 10 Share-Based Payments. The valuation methods are described in Note 11 to the consolidated financial statements included in the Annual Report.

Amounts payable to related parties as of September 30, 2026 and December 31, 2025 are as follows:

The parent company, DBV Technologies S.A., entered into a cash‑pooling agreement with its subsidiaries (DBV Technologies Inc., DBV Technologies Australia Pty Ltd and DBV Pharma SAS), the balance of which amounts to the following:

Note 16 Loss Per Share

The basic loss per share is calculated by dividing net loss attributable to the Company’s shareholders by the weighted‑average number of ordinary shares outstanding during the period. Following the March 2025 PIPE Financing, this weighted‑average share count includes the shares underlying the pre‑funded warrants, as the remaining cash exercise price for those warrants is considered immaterial.

The computations for basic and diluted loss per share were as follows (in millions of U.S. Dollars except share and per share data):

This summary also gives an overview of all exercisable instruments generated by the company either through financing or incentive programs for employees as described in Note 9.

• The equivalent in shares

Note 17 Reportable segment disclosure

The Company operates and is managed asone operating segment driving expenses for the development of VIASKIN Peanut. The Company’s R&D organization is primarily responsible for the development and registration efforts of VIASKIN Peanut. The Company is also supported by corporate staff functions.

The Company’s Chief Executive Officer as the chief operating decision maker (“CODM”) manages and allocates resources to the operations of the total company by assessing the overall level of resources available and how to best allocate them to support the Company’s long-term company-wide strategic goals. In making this decision, the CODM uses consolidated financial information for the purposes of evaluating performance, allocating resources, setting incentive compensation targets and planning and forecasting for future periods.

The CODM's analysis includes a comparison to budgeted results. Segment assets provided to the CODM are consistent with those reported on the Consolidated Statement of Financial Position with particular emphasis on the Company's available liquidity including cash, cash equivalents.

Note 18 Events after the Close of the Period

The Company evaluated subsequent events through the date of issuance of the unaudited condensed consolidated financial statements and identified no subsequent events requiring recognition or disclosure.