18 July 2023

BIOPHARMA CREDIT PLC

UPDATE ON INVESTMENT

BioPharma Credit PLC (LSE: BPCR) notes the filing of a Form 6-K made on 17 July 2023 by LumiraDx Limited ("LumiraDx") which discloses an amendment to the loan agreement entered into with BioPharma Credit PLC, BPCR Limited Partnership, and BioPharma Credit Investments V (Master) LP, which is copied below in part for convenience and can be found in its entirety at: LumiraDx Form 6-K Report:

"EXPLANATORY NOTE

On July 17, 2023, LumiraDx Investment Limited, one of the subsidiaries of LumiraDx Limited (the "Company"), entered into an eighth amendment to that certain Loan Agreement, dated March 23, 2021 (as amended from time to time, the "Loan Agreement"), with BioPharma Credit Investments V (Master) LP and BPCR Limited Partnership, as lenders, and BioPharma Credit PLC (collectively, "Pharmakon"), as collateral agent, to extend the time that the Company has to comply with certain minimum net sales and minimum liquidity covenants in the Loan Agreement until July 20, 2023 (the "Eighth Amendment").

The foregoing description of the Eighth Amendment does not purport to be complete and is qualified in its entirety by reference to the Eighth Amendment which is attached to this Form 6-K as Exhibit 4.1.

This report on Form 6-K, including Exhibit 4.1 hereto, shall be deemed to be incorporated by reference into the Company's registration statements on Form S-8 (File No. 333-259874, File No. 333-264611 and File No. 333-271538), and the registration statements on Form F-3 (File No. 333-264609 and File No. 333-271624), and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently furnished."

The referenced extended 20 July 2023 testing date for the financial covenants has been provided at the request of LumiraDx. Pharmakon Advisors, LP will provide any updates in due course.

Enquiries

Buchanan

David Rydell / Mark Court / Jamie Hooper / Henry Wilson

+44 (0) 20 7466 5000

biopharmacredit@buchanan.uk.com

Notes to Editors

BioPharma Credit PLC is London's only specialist debt investor to the life sciences industry and joined the LSE in March 2017. BioPharma Credit PLC seeks to provide long-term shareholder returns, principally in the form of sustainable income distributions from exposure to the life sciences industry. BioPharma Credit PLC seeks to achieve this objective primarily through investments in debt assets secured by royalties or other cash flows derived from the sales of approved life sciences products.