PRESS RELEASE




Description of the Share Repurchase Program Covered by the
Liquidity Agreement with Kepler Chevreux

Daix, May 22, 2025


Pursuant to Article 241-2 of the AMF General Regulations (Règlement Général de l’Autorité des
marchés financiers), the purpose of this description is to present the objectives and terms of the
Company’s share repurchase program approved by the Ordinary General Meeting of May 22, 2025, it
being specified that the Company does not to date intend to pursue any objective other than to
animate the market under a liquidity agreement which has been in place since the listing on Euronext.


▪ Securities concerned: shares issued by Inventiva SA.

▪ Maximum proportion of capital that may be purchased by the Company: 10%.

▪ Maximum number of its own shares that may be acquired by the Company, based on the
number of shares making up the share capital as of May 19, 2025: 13 915 127; however,
taking into account the 45 454 shares held in treasury, only 13 869 673 treasury shares are
available to be acquired.

▪ Allocation of treasury shares as of May 19, 2025: the 45 454 treasury shares held as of May
19, 2025 are allocated for the purpose of ensuring the liquidity of or making the market in
Inventiva's shares through the intermediary of an investment services provider acting
independently within the framework of a market making agreement that complies with a code
of conduct recognized by the Autorité des marchés financiers.

▪ Maximum price per share: 40 euros.

▪ Objectives:

The objectives of the share repurchase program pursuant to the 22nd resolution of the Ordinary
General Meeting of May 22, 2025 are as follows:

- to purchase or sell shares under a liquidity agreement entered into with an investment
services provider, in accordance with the conditions set by the market authorities;

- to implement and perform obligations related to stock option programs or other share
allocations to employees and corporate officers of the Company and, in particular, to
allocate shares to employees and corporate officers of the Company in connection with (i)
profit-sharing, or (ii) any share purchase, stock option or free share allocation plan under
the conditions provided for by law, in particular by Articles L.3331- 1 seq. of the French
Labor Code (including any sale of shares referred to in Article L.3332-24 of the French
Labor Code), and to carry out any hedging transactions relating to such transactions;




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- to deliver ordinary shares upon the exercise of rights attached to securities carrying rights
to shares of the Company by redemption, conversion, exchange, presentation of a warrant
or any other means;

- to reduce the Company's capital by cancelling all or some of the shares acquired; and

- more generally, to carry out any transaction that may be authorized by law or any market
practice that may be admitted by the market authorities, it being specified that, in such a
case, the Company would inform its shareholders by means of a press release.

▪ Duration of the program: 18 months from the Ordinary General Meeting of May 22, 2025.


About Inventiva

Inventiva is a clinical-stage biopharmaceutical company focused on the research and development of
oral small molecule therapies for the treatment of patients with MASH and other diseases with
significant unmet medical need. The Company is currently evaluating lanifibranor, a novel pan-PPAR
agonist, in the NATiV3 pivotal Phase 3 clinical trial for the treatment of adult patients with MASH, a
common and progressive chronic liver disease.

Inventiva is a public company listed on compartment B of the regulated market of Euronext Paris
(ticker: IVA, ISIN: FR0013233012) and on the Nasdaq Global Market in the United States (ticker: IVA).
http://www.inventivapharma.com


Contacts

Inventiva Brunswick Group ICR Healthcare
Pascaline Clerc Tristan Roquet Montegon / Patricia L. Bank
EVP, Strategy and Corporate Affairs Aude Lepreux / Investor relations
media@inventivapharma.com Julia Cailleteau patti.bank@icrhealthcare.com
+1 202 499 8937 Media relations +1 415 513 1284
inventiva@brunswickgroup.com
+33 1 53 96 83 83


Important Notice

This press release contains certain “forward-looking statements” within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements
of historical facts, included in this press release are forward-looking statements. These statements
include, but are not limited to, forecasts and estimates with respect to Inventiva’s cash resources,
forecasts and estimates with respect to Inventiva’s NATiV3 Phase 3 clinical trial of lanifibranor in MASH
, including duration, timing and costs, and the results and timing thereof and regulatory matters with
respect thereto, clinical trial data releases and publications, the potential therapeutic benefits of
lanifibranor, and future activities, expectations, plans, growth and prospects of Inventiva, and the
absence of material adverse events. Certain of these statements, forecasts and estimates can be
recognized by the use of words such as, without limitation, “believes”, “anticipates”, “expects”,



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“intends”, “plans”, “seeks”, “estimates”, “may”, “will”, “would”, “could”, “might”, “should”,
“designed”, “hopefully”, “target”, “potential”, “opportunity”, “possible”, “aim”, and “continue” and
similar expressions. Such statements are not historical facts but rather are statements of future
expectations and other forward-looking statements that are based on management's beliefs. These
statements reflect such views and assumptions prevailing as of the date of the statements and involve
known and unknown risks and uncertainties that could cause future results, performance, or future
events to differ materially from those expressed or implied in such statements. Actual events are
difficult to predict and may depend upon factors that are beyond Inventiva's control. There can be no
guarantees with respect to pipeline product candidates that the clinical trial results will be available on
their anticipated timeline, that future clinical trials will be initiated as anticipated, that product
candidates will receive the necessary regulatory approvals, or that any of the anticipated milestones
by Inventiva or its partners will be reached on their expected timeline, or at all. Future results may turn
out to be materially different from the anticipated future results, performance or achievements
expressed or implied by such statements, forecasts and estimates due to a number of factors, including
that the recommendation of the DMC may not be indicative of a potential marketing approval,
Inventiva cannot provide assurance on the impacts of the Suspected Unexpected Serious Adverse
Reaction on the results or timing of the NATiV3 trial or regulatory matters with respect thereto, that
Inventiva is a clinical-stage company with no approved products and no historical product revenues,
Inventiva has incurred significant losses since inception and has never generated any revenue from
product sales, Inventiva will require additional capital to finance its operations, in the absence of which,
Inventiva may be required to significantly curtail, delay or discontinue one or more of its research or
development programs or be unable to expand its operations or otherwise capitalize on its business
opportunities and may be unable to continue as a going concern, Inventiva’s ability to obtain financing
and to enter into potential transactions, Inventiva's future success is dependent on the successful
clinical development, regulatory approval and subsequent commercialization of its lanifibranor,
preclinical studies or earlier clinical trials are not necessarily predictive of future results and the results
of Inventiva's and its partners’ clinical trials may not support Inventiva's and its partners’ product
candidate claims, Inventiva's expectations with respect to its clinical trials may prove to be wrong and
regulatory authorities may require additional holds and/or additional amendments to Inventiva’s
clinical trials, Inventiva’s expectations with respect to the clinical development plan for lanifibranor for
the treatment of MASH may not be realized and may not support the approval of a New Drug
Application, Inventiva’s ability to identify additional products or product candidates with significant
commercial potential, Inventiva’s expectations with respect to its pipeline prioritization plan and
related workforce reduction, including whether the plan will be implemented and the timing, potential
benefits, expenses and consequences relating thereto, Inventiva’s ability to execute on its
commercialization, marketing and manufacturing capabilities and strategy, Inventiva’s ability to
successfully cooperate with existing partners or enter into new partnerships, and to fulfill its obligations
under any agreements entered into in connection with such partnerships, the benefits of its existing
and future partnerships on the clinical development, regulatory approvals and, if approved,
commercialization of its product candidates, and the achievement of milestones thereunder and the
timing thereof, Inventiva and its partners may encounter substantial delays beyond expectations in
their clinical trials or fail to demonstrate safety and efficacy to the satisfaction of applicable regulatory
authorities, the ability of Inventiva and its partners to recruit and retain patients in clinical studies,
enrollment and retention of patients in clinical trials is an expensive and time-consuming process and
could be made more difficult or rendered impossible by multiple factors outside Inventiva's and its
partners’ control, Inventiva's product candidates may cause adverse drug reactions or have other
properties that could delay or prevent their regulatory approval, or limit their commercial potential,
Inventiva faces substantial competition and Inventiva’s business, and pre-clinical studies and clinical
development programs and timelines, its financial condition and results of operations could be



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materially and adversely affected by changes in laws and regulations, unfavorable conditions in its
industry, geopolitical events, such as the conflict between Russia and Ukraine and related sanctions,
the conflict in the Middle East and the related risk of a larger conflict, health epidemics, and
macroeconomic conditions, including developments in international trade policies, global inflation,
financial and credit market fluctuations, tariffs and other trade barriers, international trade relations,
political turmoil, and natural catastrophes, uncertain financial markets and disruptions in banking
systems. Given these risks and uncertainties, no representations are made as to the accuracy or fairness
of such forward-looking statements, forecasts, and estimates. Furthermore, forward-looking
statements, forecasts and estimates only speak as of the date of this press release. Readers are
cautioned not to place undue reliance on any of these forward-looking statements.

Please refer to the Universal Registration Document for the year ended December 31, 2024 filed with
the Autorité des Marchés Financiers on April 15, 2025 and the Annual Report on Form 20-F for the year
ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on April 15,
2025 for other risks and uncertainties affecting Inventiva, including those described under the caption
“Risk Factors”, and in future filings with the SEC. Other risks and uncertainties of which Inventiva is not
currently aware may also affect its forward-looking statements and may cause actual results and the
timing of events to differ materially from those anticipated. All information in this press release is as of
the date of the release. Except as required by law, Inventiva has no intention and is under no obligation
to update or review the forward-looking statements referred to above. Consequently, Inventiva accepts
no liability for any consequences arising from the use of any of the above statements.




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