LIAS

AC Immune Reports Second Quarter 2023 Financial Results and Provides a Corporate Update Received FDA Fast Track Designation for ACI-24.060 anti-amyloid-beta (Abeta) active immunotherapy to treat Alzheimer’s disease (AD)Enrollment in ongoing Phase 1b/2 ABATE study of ACI-24.060 in AD and Down syndrome (DS) is on track and expanding to sites in USA following IND clearance, dosed first individual with DSNext interim safety and immunogenicity data from AD and DS cohorts in ABATE expected in H2 2023Results of amyloid plaque reduction analysis (Abeta-PET) after treatment with ACI-24.060 in ABATE study expected in H1 2024; these results could potentially provide an opportunity to accelerate into a registrational programCash position of CHF 93.0 million finances the Company into Q3 2024, excluding the benefit of anticipated milestone payments Lausanne, Switzerland, August 4, 2023 – AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases, today reported results for the second quarter ended June 30, 2023, and provided a corporate update. Dr. Andrea Pfeifer, CEO of AC Immune SA, commented: “We entered the second half of 2023 with strong momentum. ACI-24.060’s Fast Track designation acknowledges its potential as a next-generation anti-Abeta active immunotherapy positioned to offer best-in-class efficacy, an improved safety profile, and fewer administration and distribution constraints compared to monoclonal antibodies. With our ABATE trial enrolling AD patients in Europe and expanding the DS cohort via US sites, ACI-24.060 is moving expeditiously towards additional interim safety and immunogenicity data, and Abeta-PET imaging analyses on amyloid plaque reduction in AD in the first half of 2024. Demonstration of Abeta plaque clearance, a validated surrogate marker for clinical efficacy, would provide a major opportunity to rapidly transition to a registrational program.” “We also look forward to the initiation of the next AD trial of ACI-35.030, the anti-pTau (phosphorylated Tau) active immunotherapy later this year, to be followed by a milestone payment. The progress of our programs affirms our commitment to developing precision medicine approaches to improve outcomes for patients, and ultimately, to prevent progression of neurodegenerative diseases through earlier diagnosis and early intervention.” Q2 2023 and Subsequent Highlights Received Fast Track designation from the U.S. Food and Drug Administration (FDA) for ACI-24.060, AC Immune’s wholly-owned SupraAntigen®-based anti-Abeta active immunotherapy candidate, for the treatment of AD.Ongoing Phase 1b/2 ABATE study of ACI-24.060 in patients with AD and individuals with DS is on track and expanding to sites in the USA following FDA Investigational New Drug (IND) clearance.The first participant with DS was dosed in the Phase 1b/2 ABATE trial.The first patient with Parkinson’s disease was dosed in the Phase 2 VacSYn clinical trial evaluating ACI-7104.056, AC Immune’s wholly-owned anti-alpha-synuclein (a-syn) active immunotherapy.Several programs were showcased at the annual Alzheimer’s Association International Conference (AAIC 2023), which included a poster detailing ABATE’s trial design, a “Perspectives Session” focused on TDP-43 proteinopathy in neurodegenerative diseases organized by AC Immune scientists, and an oral presentation showing detailed data on ACI-12589, a novel positron emission tomography (PET) tracer targeting a-syn.The TDP-43-PET tracer program has progressed as planned and a clinical candidate has been selected. Over the coming months further preclinical work will be completed to permit the initiation of a first in human study in 2024.A peer-reviewed paper describing our therapeutic antibody candidate targeting TDP-43 was publishedpublished in the journal ‘mAbs’.Initiated a research collaboration with Prof. Michael Heneka, director of the Luxembourg Centre for Systems Biomedicine, University of Luxembourg, to further evaluate the therapeutic potential of AC Immune’s SupraAntigen®- and Morphomer®-derived inhibitors of the NLRP3-ASC inflammasome pathway in preclinical disease models.Hosted a webinar on early diagnosis and prevention of AD featuring presentations by key opinion leaders Kaj Blennow, MD, PhD, of University of Gothenburg and Sahlgrenska University Hospital, and Giovanni Frisoni, MD, of University of Geneva and the Memory Clinic at Geneva University Hospital. To view a replay of the webinar, click here.Announced the appointment of new Chief Medical Officer, Nuno Mendonça, MD. Anticipated Milestones ACI-24.060anti-Abeta active immunotherapy Additional interim safety and immunogenicity data from AD cohorts of ABATE study expected in H2 2023Interim safety and immunogenicity data from DS cohort of ABATE study expected in H2 2023Initial Abeta-PET data on amyloid plaque reduction in AD expected in H1 2024 ACI-7104.056anti-a-syn active immunotherapy Completion of recruitment of first cohort in the Phase 2 VacSYn study in Parkinson’s disease expected in H2 2023 ACI-35.030anti-pTau active immunotherapy Initiation of next trial in AD expected in H2 2023 (to be followed by a milestone payment) Semorinemabanti-Tau antibody Results from the open-label extension of the Phase 2 Lauriet trial in mild-to-moderate AD expected in H2 2023 Anti-TDP-43 antibody Advancement of candidate into preclinical development (tox) expected in H2 2023 a-syn-PET tracer Declaration of next clinical candidate for development in Parkinson’s disease expected in H2 2023 Analysis of Financial Statements for the Quarter Ended June 30, 2023 Cash Position: The Company ended Q2 with a total cash balance of CHF 93.0 million (CHF 122.6 million as of December 31, 2022), composed of CHF 40.0 million in cash and cash equivalents and CHF 53.0 million in short-term financial assets. The Company’s cash balance provides sufficient capital resources to progress into at least Q3 2024 without considering receipt of potential future milestone payments.R&D Expenditures: R&D expenses for the three months ended June 30, 2023, were CHF 13.7 million compared to CHF 15.7 million in the comparable period in 2022. The decrease was due mainly to lower discovery and preclinical expenses.G&A Expenditures: G&A decreased by CHF 0.7 million to CHF 3.7 million, mostly due to a decrease in personnel expenses.Other Operating Income: The Company recognized CHF 0.3 million in grant income from Michael J. Fox Foundation and Target ALS grants.IFRS Loss for the Period: The Company reported a net loss after taxes of CHF 16.8 million for the three months ended June 30, 2023, compared with a net loss of CHF 19.6 million for the comparable period in 2022. About AC Immune SA AC Immune SA is a clinical-stage biopharmaceutical company that aims to become a global leader in precision medicine for neurodegenerative diseases, including Alzheimer’s disease, Parkinson’s disease, and NeuroOrphan indications driven by misfolded proteins. The Company’s two clinically validated technology platforms, SupraAntigen® and Morphomer®, fuel its broad and diversified pipeline of first- and best-in-class assets, which currently features sixteen therapeutic and diagnostic programs, five of which are currently in Phase 2 clinical trials and one of which is in Phase 3. AC Immune has a strong track record of securing strategic partnerships with leading global pharmaceutical companies including Genentech, a member of the Roche Group, Eli Lilly and Company, and others, resulting in substantial non-dilutive funding to advance its proprietary programs and >$3 billion in potential milestone payments. SupraAntigen® is a registered trademark of AC Immune SA in the following territories: AU, EU, CH, GB, JP, RU, SG and USA. Morphomer® is a registered trademark of AC Immune SA in CN, CH, GB, JP, KR, NO and RU. The information on our website and any other websites referenced herein is expressly not incorporated by reference into, and does not constitute a part of, this press release. For further information, please contact: Head of Investor Relations & Corporate CommunicationsGary Waanders, Ph.D., MBAAC ImmunePhone: +41 21 345 91 91Email: gary.waanders@acimmune.comU.S. InvestorsCorey Davis, Ph.D.LifeSci AdvisorsPhone: +1 212 915 2577 Email: cdavis@lifesciadvisors.comInternational MediaChris MaggosCohesion BureauPhone: +41 79 367 6254Email: chris.maggos@cohesionbureau.com Forward looking statementsThis press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical fact and may include statements that address future operating, financial or business performance or AC Immune’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include those described under the captions “Item 3. Key Information – Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in AC Immune’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and AC Immune does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement. Condensed Consolidated Balance Sheets (Unaudited)(In CHF thousands) As of June 30, December 31, 2023 2022Assets Non-current assets Property, plant and equipment 3,760 4,259Right-of-use assets 2,539 2,808Intangible asset 50,416 50,416Long-term financial assets 361 361Total non-current assets 57,076 57,844Current assets Prepaid expenses 5,167 4,708Accrued income 675 408Other current receivables 303 392Short-term financial assets 53,000 91,000Cash and cash equivalents 40,007 31,586Total current assets 99,152 128,094Total assets 156,228 185,938 Shareholders' equity and liabilities Shareholders’ equity Share capital 1,800 1,797Share premium 433,699 431,323Treasury shares (110) (124)Currency translation differences (6) 10Accumulated losses (296,055) (264,015)Total shareholders’ equity 139,328 168,991 Non-current liabilities Long-term lease liabilities 1,976 2,253Net employee defined-benefit liabilities 3,771 3,213Total non-current liabilities 5,747 5,466 Current liabilities Trade and other payables 1,352 929Accrued expenses 8,818 9,417Deferred income 430 587Short-term lease liabilities 553 548Total current liabilities 11,153 11,481Total liabilities 16,900 16,947Total shareholders’ equity and liabilities 156,228 185,938 Condensed Consolidated Statements of Income/(Loss) (Unaudited)(In CHF thousands, except for per-share data) For the Three Months For the Six Months Ended June 30, Ended June 30, 2023 2022 2023 2022Revenue Contract revenue — — — —Total revenue — — — — Operating expenses Research & development expenses (13,682) (15,692) (27,555) (30,815)General & administrative expenses (3,681) (4,374) (7,787) (8,550)Other operating income/(expense), net 317 207 725 677Total operating expenses (17,046) (19,859) (34,617) (38,688)Operating loss (17,046) (19,859) (34,617) (38,688) Financial income 259 — 468 —Financial expense (27) (126) (124) (279)Exchange differences (16) 345 (67) 485Finance result, net 216 219 277 206 Loss before tax (16,830) (19,640) (34,340) (38,482)Income tax expense (3) (3) (6) (7)Loss for the period (16,833) (19,643) (34,346) (38,489)Loss per share: (0.20) (0.23) (0.41) (0.46) Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited)(In CHF thousands) For the Three Months For the Six Months Ended June 30, Ended June 30, 2023 2022 2023 2022Loss for the period (16,833) (19,643) (34,346) (38,489)Items that will be reclassified to income or loss in subsequent periods (net of tax): Currency translation differences (8) 39 (16) 49Items that will not to be reclassified to income or loss in subsequent periods (net of tax): Remeasurement gains on defined-benefit plans — 7,381 — 7,381Total comprehensive loss (net of tax) (16,841) (12,223) (34,362) (31,059) Attachment 20230804_ACIU_Q2_Earnings_Final

Scientists have identified a protein-protein interaction that contributes to Parkinson's disease. In a study published in Nature Communications, a team led by Krembil Brain Institute Senior Scientists, Drs. Lorraine Kalia and Suneil Kalia, and University of Toronto (U of T) Professor, Dr. Philip M. Kim, identified a protein-protein interaction that contributes to Parkinson's disease. In the disease, a protein called ?-synuclein (a-syn) accumulates in the brain and leads to cell death. Much research is currently focused on clearing a-syn with antibodies or using small molecules to prevent a-syn from aggregating. In this study, the researchers took an alternate approach by looking for protein-protein interactions that may be promoting the accumulation of a-syn in Parkinson's disease. Protein-protein interactions govern virtually all the inner workings of the cell, including breaking down disease-causing proteins. Inhibiting certain interactions has emerged as a promising approach to treat diseases such as stroke and cancer. "Identifying a particular interaction that contributes to a disease and then finding ways to disrupt it, can be a painstaking and incredibly slow process," explains Dr. Lorraine Kalia, who is also a staff neurologist at UHN and a scientist at U of T's Tanz Centre for Research in Neurodegenerative Diseases, in the Temerty Faculty of Medicine. "We all started out a bit skeptical that we would have something useful at the end, and so the fact that we do have something that warrants further work is much more than we anticipated." According to Dr. Kim, the team took the reverse approach to expedite the discovery of potential therapies. "We developed a platform to screen molecules called peptide motifs -- short strings of amino acids that can disrupt protein-protein interactions -- for their ability to protect cells from a-syn. Once we identified candidate peptides, we determined which protein-protein interactions they target." Through this approach, the team identified a peptide that reduced a-syn levels in cells by disrupting the interaction between a-syn and a protein subunit of the cellular machinery called 'endosomal sorting complex required for transport III' (ESCRT-III). "ESCRT-III is a component of a pathway that cells use to break down proteins, called the endolysosomal pathway," explains Dr. Lorraine Kalia. "We discovered that a-syn interacts with a protein within ESCRT-III -- CHMP2B -- to inhibit this pathway, thereby preventing its own destruction." "We were impressed that the platform worked," she adds. "But I think what was more interesting is that, by doing this kind of screening, we were able to find an interaction that was really not previously characterized, and we also found a pathway that's not yet been targeted for therapeutics." According to Dr. Suneil Kalia, once the group identified this interaction, they confirmed that they could use their peptide to disrupt it, preventing a-syn from evading the cell's natural clearance pathways. "We tested the peptide in multiple experimental models of Parkinson's disease, and we consistently found that it restored endolysosomal function, promoted a-syn clearance and prevented cell death," he said. These findings indicate that the a-syn-CHMP2B interaction is a potential therapeutic target for the disease, as well as other conditions that involve a buildup of a-syn, such as dementia with Lewy bodies. The next steps for this research are to clarify exactly how a-syn and CHMP2B interact to disrupt endolysosomal activity. Ongoing studies are also determining the best approach for delivering potential therapeutics to the brain. "This research is still in its early stages -- more work is definitely needed to translate this peptide into a viable therapeutic," cautions Dr. Lorraine Kalia. "Nonetheless, our findings are very exciting because they suggest a new avenue for developing treatments for Parkinson's disease and other neurodegenerative conditions." This study also highlights the value of multidisciplinary collaborations in health research. "We simply could not have conducted this study in a silo," says Dr. Suneil Kalia. "The endolysosomal pathway is underexplored, so it was not an obvious place to look for potential disease-related protein-protein interactions. Dr. Kim's screening platform was critical for pointing us in the right direction." "It is extraordinary to see this platform -- which we initially used to find potential therapeutics for cancer -- yielding advances in brain research. The pathways that cells use to stay healthy are fundamentally very similar across tissues, so the insights that we gain about one organ system or disease could have important implications in other contexts," says Dr. Kim. "This is our first collaboration with Dr. Kim and it has been a productive one with a lot of synergy," says Dr. Lorraine Kalia. "Seeking out technologies that are being used in other fields and applying them to our own field, we hope this will accelerate Parkinson's research." She adds: "It's really brand new science and brand new targets that haven't been a focus for drug development for Parkinson's. We hope this changes the landscape for treatment of this disease, which is so in need of new therapies."

AC Immune Reports Full Year 2022 Financial Results and Provides Corporate Update Clinical-stage vaccine programs targeting amyloid-beta (Abeta), phosphorylated-Tau (pTau), and alpha-synuclein (a-syn) are all on track to reach important milestones in 2023ACI-24.060 anti-amyloid-beta vaccine for Alzheimer’s disease (AD) showed positive initial safety and immunogenicity in Phase 1b/2 ABATE trial; further interim data expected in H2 2023; first amyloid plaque PET imaging results anticipated in 2024ACI-35.030 anti-pTau vaccine for AD selected for further development by partner; anticipated H2 2023 initiation of next trial in AD to be followed by milestone payment2022 cash burn of CHF 70.9 million was better than guidance (2022: CHF 75-80 million) resulting in strong end of year financial position of CHF 122.6 million providing runway into Q3 2024, excluding potential milestone payments Lausanne, Switzerland, March 16, 2023 – AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases, today reported results for the year ended December 31, 2022, and provided a corporate update. Dr. Andrea Pfeifer, CEO of AC Immune SA, commented: “Thanks to the strong progress by our experienced team over the past year, we now have highly innovative vaccines targeting neurotoxic species of Abeta, Tau or a-syn in mid- to late-stage development for Alzheimer’s and Parkinson’s disease, respectively. This progress was highlighted by ABATE’s successful interim readout in AD, which is enabling the quick and informed transition to this adaptive trial’s next cohorts. Importantly, ABATE remains on track for additional readouts on ACI-24.060’s safety and immunogenicity this year, and for interim Abeta PET analyses in 2024 that will provide an opportunity for early de-risking and potentially a rapid transition to a pivotal program.” “Together, our vaccines and the highly specific diagnostics we are developing against targets such as Tau and a-syn form the cornerstone of our strategy to enable precision medicine for neurodegenerative diseases. With this strategy, our long-term goal is to identify and treat the multifactorial pathologies of each patient at their earliest stages, so that we can minimize irreversible neuronal damage and enable disease prevention.” 2022 and Subsequent Highlights Pipeline Progress Vaccine Programs Positive initial interim safety and immunogenicity data from the first AD cohort of the Phase 1b/2 ABATE trial of ACI-24.060, AC Immune’s wholly-owned anti-amyloid beta (Abeta) SupraAntigen® vaccine candidate. Based on these data, ABATE has been expanded, as planned, to begin screening of individuals with Down syndrome (DS) for participation in part 2 of the trial and also to evaluate higher doses in patients with AD. Interim safety and immunogenicity data from AD and DS cohorts are expected in the second half of 2023.ACI-35.030, a potential first-in-class anti-pTau vaccine candidate, was selected for further development, based on clinical data from a Phase 1b/2 trial in AD presented at CTAD 2022. These data showed that vaccination with ACI-35.030 was well tolerated and elicited a strong, durable, and boost-able antibody response against pathological forms of Tau such as pTau and its aggregated form, enriched paired helical filaments. ACI-35.030, generated using AC Immune’s SupraAntigen® technology platform, is being developed in collaboration with Janssen Pharmaceuticals, Inc. (Janssen), part of the Janssen Pharmaceutical Companies of Johnson & Johnson.ACI-24.060 preclinical data published in the peer-reviewed journal Brain Communications, showed it was well tolerated and generated a broad polyclonal immune response with high titers of antibodies against neurotoxic pyroglutamate Abeta (pyroGlu-Abeta), a major component of Abeta plaques. Additional preclinical data demonstrated ACI-24.060’s strong immunogenicity against another key neurotoxic Abeta species, oligomeric Abeta.A peer-reviewed publication in JAMA Neurology showed that the first generation formulation of ACI-24.060 was safe and elicited an immune response in the first-ever clinical study of an anti-Abeta vaccine in individuals with DS. Data from the Phase 1b study also provided evidence of target engagement by the polyclonal response to the studied vaccine. Antibody Programs Detailed results from the Phase 2 Alzheimer’s Prevention Initiative (API) study evaluating the anti-Abeta monoclonal antibody crenezumab in autosomal dominant Alzheimer’s disease (ADAD) were presented at the 2022 Alzheimer’s Association International Conference (AAIC) by AC Immune’s partner Genentech, a member of the Roche group, and the Banner Alzheimer’s Institute. Numerical differences favoring crenezumab were observed across both co-primary endpoints, as well as multiple secondary and exploratory endpoints, though none were statistically significant. All participants in the study were offered up to one year of continued treatment (crenezumab for all carriers and placebo for all non-carrier) following the end of the double-blind period while primary results and additional analyses were pending. Final efficacy visits have begun.Further biofluid biomarker data from the Phase 2 Lauriet trial of the anti-Tau antibody semorinemab in mild-to-moderate AD were presented in a poster at CTAD 2022. Results featured in the poster showed statistically significant post-treatment reductions in pTau and total Tau in the cerebrospinal fluid with semorinemab versus placebo, supporting target engagement and modulation in the central nervous system. The Lauriet open label extension study is ongoing. Diagnostic Programs The first live images of a-syn in human brains were shown using ACI-12589, an a-syn PET tracer discovered using AC Immune’s Morphomer® platform. Analyses from a clinical study of the tracer presented at AD/PD™ 2022 showed enhanced contrast and a-syn target specificity in patients with multiple system atrophy (MSA), as well as increased tracer retention in brain areas affected by MSA disease processes, highlighting ACI-12589’s potential as the first non-invasive diagnostic for alpha-synucleinopathies (e.g. MSA).AC Immune’s partner, Life Molecular Imaging, imaged the first patient in the pivotal Phase 3 ADvance trial evaluating the Tau PET tracer, PI-2620, in AD. PI-2620 was discovered and developed using the Morphomer® platform as part of a research collaboration between AC Immune and LMI. Management Team Expanded executive team with the appointment of Howard Donovan as Chief HR Officer. Prior to joining AC Immune, Mr. Donovan led People Services at the World Economic Forum.Promoted Christopher Roberts to Interim Chief Financial Officer and Vice President, Finance. Mr. Roberts previously held the title of Associate Vice President, Finance, and prior to joining AC Immune worked as a Senior Manager for Ernst and Young.Promoted Julian Snow to Vice President, U.S. Finance & Corporate Development. Mr. Snow previously held the title of Associate Vice President, Financial Reporting and prior to joining AC Immune worked as a manager at BDO. Thought Leadership and Collaborations Received a follow-on grant from The Michael J. Fox Foundation for Parkinson’s Research (MJFF) to support enhanced clinical studies of ACI-12589.Received new grants from MJFF and the Target ALS Foundation that collectively provide more than USD 500,000 in additional non-dilutive capital to support the advancement of diagnostic programs targeting TDP-43 (TAR DNA-binding protein 43).AC Immune Co-Founder and CEO Dr. Andrea Pfeifer received the prestigious Aenne Burda Award for Creative Leadership in recognition of her work in the field of neurodegenerative diseases. Key Achieved and Anticipated 2023 Milestones ACI-24.060anti-Abeta vaccine Reported interim Phase 1b safety and immunogenicity data from first AD cohort of Phase 1b/2 ABATE studyInitiation of first DS cohort of ABATE study expected in H1 2023Submission of an Investigational New Drug (IND) application to enable expansion of ABATE study to the U.S. expected in H1 2023Additional interim safety and immunogenicity data from AD cohort of ABATE study expected in H2 2023Interim safety and immunogenicity data from DS cohort of ABATE study expected in H2 2023 ACI-7104 anti-a-syn vaccine Update from Phase 2 VACSYN study expected in H2 2023 ACI-35.030 anti-pTau vaccine Initiation of next trial in AD expected in H2 2023 (to be followed by milestone payment) Semorinemab anti-Tau antibody Results from the open-label extension of the Phase 2 Lauriet trial in mild-to-moderate AD expected in H2 2023 Anti-TDP-43 antibody Advancement of candidate into preclinical development (tox) expected in H2 2023 a-syn-PET tracer Declaration of next clinical candidate for development in Parkinson’s disease expected in H2 2023 TDP-43-PET tracer Clinical candidate declaration expected in H1 2023 Analysis of Financial Statements for the Year Ended December 31, 2022 Cash Position: The Company had a total cash balance of CHF 122.6 million, composed of CHF 31.6 million in cash and cash equivalents and CHF 91.0 million in short-term financial assets. This compares to a total cash balance of CHF 198.2 million as of December 31, 2021. The Company’s cash balance provides sufficient capital resources to progress into at least Q3 2024 without consideration of potential income milestone payments.Contract Revenues: The Company recorded CHF 3.9 million in contract revenues for the year end December 31, 2022 compared with no contract revenues in the prior year. The increase relates to the progression of PI-2620 into Phase 3 development in AD.R&D Expenditures: R&D expenses decreased by CHF 1.9 million for the year ended December 31, 2022 to CHF 60.3 million, predominantly due to: Discovery and preclinical expenses (- CHF 3.1 million): The Company decreased expenditures across a variety of its discovery and preclinical programs. This decrease was predominantly due to the advancement of the Company’s ACI-24.060 vaccine into clinical studies.Clinical expenses (- CHF 1.8 million): The Company had a net decrease in clinical expenditures largely due to the timing of activities across various cohorts and the completion of certain R&D cost sharing activities for our ACI-35.030 vaccine. We increased expenditures in other clinical programs, notably for the clinical development of ACI-7104.056 and the initiation of our Phase 1b/2a ABATE study for ACI-24.060.Salary- and benefit-related costs (+ CHF 1.2 million): Personnel expenses increased due to the net increase in FTEs in 2022 along with the annualization of 2021 hires. G&A Expenditures: G&A expenses decreased by CHF 2.1 million for the year ended December 31, 2022 to CHF 15.8 million. This decrease is related to prior year transaction costs incurred to complete the asset acquisition of Affiris’ a-syn portfolio and the reduction in personnel expenses.Other Operating Income: The Company recorded CHF 1.3 million in grant income for R&D activities performed under our grants for the year ended December 31, 2022, an increase of CHF 0.1 million compared to the prior period.IFRS Loss for the Period: The Company reported a net loss after taxes of CHF 70.8 million for the year ended December 31, 2022, compared with a net loss of CHF 73.0 million for the prior period. 2023 Financial Guidance AC Immune anticipates that its total cash burn will be in the range of CHF 65 to CHF 75 million for the full year 2023. The Company defines cash burn as operating expenditures adjusted to include capital expenditures and offset by significant non-cash items (including share-based compensation and depreciation expense). About AC Immune SA AC Immune SA is a clinical-stage biopharmaceutical company that aims to become a global leader in precision medicine for neurodegenerative diseases, including Alzheimer’s disease, Parkinson’s disease, and NeuroOrphan indications driven by misfolded proteins. The Company’s two clinically validated technology platforms, SupraAntigen® and Morphomer®, fuel its broad and diversified pipeline of first- and best-in-class assets, which currently features ten therapeutic and three diagnostic candidates, five of which are currently in Phase 2 clinical trials and one of which is in Phase 3. AC Immune has a strong track record of securing strategic partnerships with leading global pharmaceutical companies including Genentech, a member of the Roche Group, Eli Lilly and Company, and others, resulting in substantial non-dilutive funding to advance its proprietary programs and >$3 billion in potential milestone payments. SupraAntigen® is a registered trademark of AC Immune SA in the following territories: AU, EU, CH, GB, JP, RU, SG and USA. Morphomer® is a registered trademark of AC Immune SA in CN, CH, GB, JP, KR, NO and RU. The information on our website and any other websites referenced herein is expressly not incorporated by reference into, and does not constitute a part of, this press release. For further information, please contact: Head of Investor Relations & Corporate CommunicationsGary Waanders, Ph.D., MBAAC ImmunePhone: +41 21 345 91 91Email: gary.waanders@acimmune.comU.S. InvestorsCorey Davis, Ph.D.LifeSci AdvisorsPhone: +1 212 915 2577 Email: cdavis@lifesciadvisors.comInternational MediaChris MaggosCohesion BureauPhone: +41 79 367 6254Email: chris.maggos@cohesionbureau.com Forward looking statementsThis press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical fact and may include statements that address future operating, financial or business performance or AC Immune’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include those described under the captions “Item 3. Key Information – Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in AC Immune’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. These include: the impact of Covid-19 on our business, suppliers, patients and employees and any other impact of Covid-19. Forward-looking statements speak only as of the date they are made, and AC Immune does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement. Consolidated Balance Sheets(In CHF thousands) As of December 31, 2022As of December 31, 2021ASSETS Non-current assets Property, plant and equipment4,2595,116Right-of-use assets2,8082,914Intangible asset50,41650,416Long-term financial assets361363Total non-current assets57,84458,809Current assets Prepaid expenses4,7083,015Accrued income408975Other current receivables392428Short-term financial assets91,000116,000Cash and cash equivalents31,58682,216Total current assets128,094202,634Total assets 185,938261,443 SHAREHOLDERS’ EQUITY AND LIABILITIES Shareholders’ equity Share capital1,7971,794Share premium431,323431,251Treasury shares(124)(124)Currency translation differences10—Accumulated losses(264,015)(200,942)Total shareholders’ equity168,991231,979 Non-current liabilities Long-term lease liabilities2,2532,340Net employee defined-benefit liabilities3,2137,098Total non-current liabilities5,4669,438 Current liabilities Trade and other payables9292,003Accrued expenses9,41716,736Deferred income587717Short-term lease liabilities548570Total current liabilities11,48120,026Total liabilities16,94729,464Total shareholders’ equity and liabilities185,938261,443 Consolidated Statements of Income/(Loss)(In CHF thousands, except for per share data) For the Year EndedDecember 31, 202220212020Revenue Contract revenue3,935—15,431Total revenue3,935—15,431 Operating expenses Research & development expenses(60,336)(62,282)(59,487)General & administrative expenses(15,789)(17,910)(18,557)Other operating income/(expense), net1,3431,1821,353 Total operating expenses(74,782)(79,010)(76,691) Operating loss(70,847)(79,010)(61,260)Financial income696,48578Financial expense(355)(581)(184)Exchange differences393113(555)Finance result, net1076,017(661)Loss before tax(70,740)(72,993)(61,921)Income tax expense(13)(3)—Loss for the period(70,753)(72,996)(61,921)Loss per share: Basic and diluted loss for the period attributable to equity holders(0.85)(0.97)(0.86) Consolidated Statements of Comprehensive Income/(Loss)(In CHF thousands) For the Year EndedDecember 31, 202220212020Loss for the period (70,753)(72,996)(61,921)Items that may be reclassified to income or loss in subsequent periods (net of tax): Currency translation differences 10——Items that will not be reclassified to income or loss in subsequent periods (net of tax): Remeasurement gains on defined-benefit plans (net of tax) 4,426956726Other comprehensive income 4,436956726Total comprehensive loss, net of tax (66,317)(72,040)(61,195) Reconciliation of loss to adjusted loss andloss per share to adjusted loss per share For the Year EndedDecember 31,(In CHF thousands, except for share and per share data)202220212020Loss(70,753)(72,996)(61,921)Adjustments: Non-cash share-based payments13,3304,1264,088Foreign currency (gains)/losses2(521)70703Change in fair value of derivative financial assets3—(6,459)—Transaction costs4—1,144—Adjusted loss(67,944)(74,115)(57,130) Loss per share – basic and diluted(0.85)(0.97)(0.86)Adjustment to loss per share – basic and diluted0.04(0.02)0.07Adjusted loss per share – basic and diluted(0.81)(0.99)(0.79)Weighted-average number of shares used to compute adjusted loss per share – basic and diluted83,554,41274,951,83371,900,212 1Reflects non-cash expenses associated with share-based compensation for equity awards issued to directors, management and employees of the Company. This expense reflects the awards’ fair value recognized for the portion of the equity award which is vesting over the period.2Reflects foreign currency re-measurement gains and losses for the period, predominantly impacted by the change in the exchange rate between the U.S. Dollar and the Swiss Franc.3Reflects the change in the fair value of the derivative financial instruments associated with two convertible notes sold to certain Affiris affiliated entities.4Reflects transaction costs associated with our asset acquisition for a portfolio of therapeutics targeting alpha-synuclein. Attachment 20230316_ACIU_2022 Annual results-FINAL