Shield Therapeutics plc

("Shield" or the "Company" or the "Group")

Chief Financial Officer Transition

London, UK, 12 October 2023: Shield Therapeutics plc (LSE: STX), a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/ Feraccru® (ferric maltol), announces that Hans-Peter Rudolf is standing down from his role as Chief Financial Officer ("CFO") of the Group to pursue other opportunities. Hans-Peter will step down from this role as of 20 October 2023, and is available for consulting through to the end of the month. His resignation is not the result of any dispute or disagreement with Shield on any matters relating to Shield's financial statements, internal controls, operations, policies or practices.

Shield also announces that Paul Spoors, Group Company Controller since 2019, will assume additional responsibility and report directly to the Shield's Chief Executive Officer, Greg Madison, on an interim basis. The Company has hired an executive search firm to identify a new Chief Financial Officer and a further announcement relating to this appointment will be made in due course.

Greg Madison, Chief Executive Officer, said: "On behalf of the Board, I would like to thank Hans-Peter for his leadership and contributions to the business and our efforts to transform Shield into a fast growing commercial specialty pharmaceutical company with a completely-built-out U.S. commercial team. He has built a strong accounting and finance team that will provide a solid foundation for growth. We wish him every success in the future."

Hans-Peter Rudolf, outgoing Chief Financial Officer, said: "I would like to thank the Board and the senior management team for their support during my time as CFO. I have every confidence in the future success of the business and, as a shareholder, I wish the team the very best of continued success for the future."

For further information please contact:

About Accrufer®/Feraccru®

Accrufer®/Feraccru® (ferric maltol) is a novel, stable, non-salt based oral therapy for adults with iron deficiency, with or without anemia. Accrufer®/Feraccru® has a novel mechanism of action compared to other oral iron therapies and has been shown to be an efficacious and well-tolerated therapy in a range of clinical trials. More information about Accrufer®/Feraccru®, including the product label, can be found at: www.accrufer.com and www.feraccru.com

About Shield Therapeutics plc

Shield is a commercial stage specialty pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol). The Group has launched Accrufer® in the US and Feraccru® is commercialized in the UK and European Union by Norgine B.V., who also have the marketing rights in Australia and New Zealand. Shield also has an exclusive license agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialization of Accrufer® / Feraccru® in China, Hong Kong, Macau and Taiwan, with Korea Pharma Co., Ltd. in the Republic of Korea, and with KYE Pharmaceuticals Inc. in Canada.

Accrufer®/Feraccru® has patent coverage until the mid-2030s

Accrufer®/Feraccru® are registered trademarks of the Shield Group