PRESS RELEASE




Half-Year Review of Inventiva’s Liquidity Contract with
Kepler Cheuvreux
PRESS RELEASE
Daix (France), New York (New York, United States), July 31, 2025 – Inventiva (Euronext Paris and Nasdaq: IVA)
(“Inventiva” or the “Company”), a clinical-stage biopharmaceutical company focused on the development of oral
small molecule therapies for the treatment of patients with metabolic dysfunction-associated steatohepatitis
(“MASH”), also known as non-alcoholic steatohepatitis (“NASH”), and other diseases with significant unmet
medical needs, today announced the half-year report of its liquidity contract with Kepler Cheuvreux.

Under the liquidity contract granted to Kepler Cheuvreux by Inventiva, the following resources were available in
the liquidity account as of June 30, 2025:

 Cash: € 428,212.57
 Number of shares: 84,532

 Number of executions on buy side on semester: 1,642
 Number of executions on sell side on semester: 1,878
 Traded volume on buy side on semester: 267,584 shares for € 744,692.94
 Traded volume on sell side on semester: 296,504 shares for € 819,771.51

At the last half-year report as of December 31, 2024, the following resources were available in the liquidity
account:

 Cash: € 349,630.55
 Number of shares: 113,452

 Number of executions on buy side on semester: 1,281
 Number of executions on sell side on semester: 1,366
 Traded volume on buy side on semester: 215,444 shares for € 477,452.69
 Traded volume on sell side on semester: 231,651 shares for € 538,913.35

When the contract was initially implemented, the following resources were included in the liquidity account:

 Cash: € 163,510.42
 Number of shares: 34,063




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PRESS RELEASE




Buy Side Sell Side

Number of Number of Traded volume in Number of Number of Traded volume in
executions shares EUR executions shares EUR

Total 1 886 322 578 1 074 534,26 1 610 276 147 938 985,90

01/02/2025 12 2,741 5,865.74 12 1,487 3,211.92
01/03/2025 3 485 1,033.05 9 1,320 2,811.60
01/06/2025 1 15 31.80 5 930 1,990.20
01/07/2025 - - - 10 1,750 3,780.00
01/08/2025 4 700 1,498.00 11 1,500 3,240.00
01/09/2025 8 1,050 2,236.50 5 864 1,857.60
01/10/2025 2 85 181.90 6 276 593.40
01/13/2025 7 915 1,939.80 8 732 1,566.48
01/14/2025 2 244 519.72 17 2,641 5,783.79
01/15/2025 9 1,266 2,772.54 4 750 1,657.50
01/16/2025 10 1,511 3,248.65 - - -
01/17/2025 2 229 485.48 2 500 1,080.00
01/20/2025 4 500 1,060.00 4 714 1,520.82
01/21/2025 2 500 1,065.00 6 786 1,682.04
01/22/2025 10 798 1,683.78 2 310 657.20
01/23/2025 - - - 75 14,338 34,267.82
01/24/2025 5 750 1,732.50 8 1,965 4,637.40
01/27/2025 14 2,791 6,223.93 12 1,000 2,270.00
01/28/2025 10 1,459 3,195.21 - - -
01/29/2025 13 2,000 4,320.00 6 1,000 2,180.00
01/30/2025 1 250 560.00 61 9,289 21,457.59
01/31/2025 1 41 95.12 11 1,567 3,713.79
02/03/2025 10 1,459 3,384.88 12 2,143 5,036.05
02/04/2025 5 500 1,155.00 11 1,000 2,330.00
02/05/2025 1 15 34.95 5 1,000 2,340.00
02/06/2025 6 1,026 2,380.32 5 252 589.68
02/07/2025 8 1,209 2,792.79 8 316 736.28
02/10/2025 12 2,000 4,580.00 1 1 2.33
02/11/2025 18 2,516 5,610.68 6 1,000 2,240.00
02/12/2025 5 500 1,110.00 9 1,323 2,963.52
02/13/2025 2 500 1,125.00 7 1,177 2,648.25
02/14/2025 - - - 12 1,751 3,992.28
02/17/2025 - - - 14 1,249 2,847.72
02/18/2025 - - - 25 3,931 9,159.23
02/19/2025 1 250 600.00 21 3,836 9,359.84
02/20/2025 1 250 605.00 7 583 1,428.35
02/21/2025 6 1,500 3,795.00 46 8,696 22,261.76
02/24/2025 4 750 2,062.50 52 9,521 26,373.17

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PRESS RELEASE




Buy Side Sell Side

Number of Number of Traded volume in Number of Number of Traded volume in
executions shares EUR executions shares EUR

Total 1 886 322 578 1 074 534,26 1 610 276 147 938 985,90

02/25/2025 3 669 1,879.89 34 5,500 15,620.00
02/26/2025 4 936 2,808.00 67 9,567 28,892.34
02/27/2025 15 2,750 8,415.00 41 6,752 21,066.24
02/28/2025 40 7,282 21,044.98 12 2,401 6,986.91
03/03/2025 56 8,280 23,018.40 26 3,895 10,944.95
03/04/2025 52 8,933 24,029.77 7 1,700 4,743.00
03/05/2025 19 3,389 8,879.18 15 2,751 7,290.15
03/06/2025 3 250 665.00 7 1,500 3,990.00
03/07/2025 4 500 1,320.00 45 6,478 17,749.72
03/10/2025 2 464 1,327.04 43 5,576 16,003.12
03/11/2025 30 5,595 15,777.90 4 700 2,023.00
03/12/2025 16 1,789 4,955.53 22 3,264 9,106.56
03/13/2025 37 4,652 12,699.96 3 674 1,853.50
03/14/2025 8 1,000 2,700.00 10 2,026 5,490.46
03/17/2025 3 85 234.60 18 3,500 9,695.00
03/18/2025 10 1,925 5,332.25 8 1,001 2,812.81
03/19/2025 6 1,068 2,926.32 10 1,789 4,919.75
03/20/2025 10 1,732 4,763.00 8 1,212 3,369.36
03/21/2025 16 1,250 3,437.50 5 790 2,180.40
03/24/2025 12 2,250 6,210.00 9 1,960 5,527.20
03/25/2025 5 1,001 2,722.72 7 1,300 3,575.00
03/26/2025 16 1,806 4,948.44 10 1,470 4,042.50
03/27/2025 7 1,043 2,836.96 8 1,530 4,238.10
03/28/2025 7 750 2,062.50 4 489 1,349.64
03/31/2025 14 2,740 7,425.40 17 2,761 7,565.14
04/01/2025 - - - 20 2,900 8,004.00
04/02/2025 11 2,500 6,925.00 13 2,001 5,602.80
04/03/2025 19 3,817 10,420.41 16 2,556 7,029.00
04/04/2025 27 5,294 13,976.16 - - -
04/07/2025 39 7,250 17,255.00 48 8,247 21,194.79
04/08/2025 6 950 2,565.00 13 2,255 6,156.15
04/09/2025 25 4,343 11,639.24 5 850 2,286.50
04/10/2025 9 2,157 5,737.62 24 3,455 9,293.95
04/11/2025 11 2,250 6,120.00 1 1 2.75
04/14/2025 3 500 1,355.00 51 7,185 20,118.00
04/15/2025 7 1,290 3,637.80 9 1,764 5,027.40
04/16/2025 9 856 2,422.48 10 1,595 4,545.75
04/17/2025 5 566 1,607.44 11 1,500 4,275.00

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PRESS RELEASE




Buy Side Sell Side

Number of Number of Traded volume in Number of Number of Traded volume in
executions shares EUR executions shares EUR

Total 1 886 322 578 1 074 534,26 1 610 276 147 938 985,90

04/22/2025 1 42 119.70 44 7,682 22,815.54
04/23/2025 11 2,000 6,080.00 40 6,381 20,163.96
04/24/2025 16 4,000 12,600.00 18 2,001 6,363.18
04/25/2025 25 4,750 14,915.00 23 4,000 12,720.00
04/28/2025 6 1,400 4,438.00 21 3,249 10,429.29
04/29/2025 - - - 5 750 2,445.00
04/30/2025 16 2,250 7,222.50 - - -
05/02/2025 1 340 1,098.20 7 540 1,760.40
05/05/2025 18 2,791 8,959.11 19 2,595 8,381.85
05/06/2025 10 1,574 5,021.06 20 2,485 8,001.70
05/07/2025 22 3,396 10,901.16 11 1,125 3,633.75
05/08/2025 42 5,091 16,138.47 - - -
05/09/2025 17 2,434 7,594.08 21 3,500 11,060.00
05/12/2025 28 4,080 13,015.20 24 4,055 13,016.55
05/13/2025 24 4,603 14,867.69 42 6,710 21,807.50
05/14/2025 31 5,018 16,007.42 6 1,241 4,008.43
05/15/2025 75 11,413 34,124.87 - - -
05/16/2025 37 6,597 18,735.48 19 3,002 8,645.76
05/19/2025 34 7,250 20,300.00 23 3,800 10,754.00
05/20/2025 18 3,500 9,835.00 28 5,095 14,469.80
05/21/2025 31 4,251 11,902.80 5 661 1,864.02
05/22/2025 9 2,119 5,848.44 16 2,813 7,848.27
05/23/2025 16 3,130 8,638.80 6 1,277 3,550.06
05/26/2025 - - - 21 3,304 9,317.28
05/27/2025 16 3,000 8,580.00 31 5,500 15,950.00
05/28/2025 12 1,750 5,110.00 5 472 1,387.68
05/29/2025 - - - 19 2,928 8,637.60
05/30/2025 14 2,658 7,761.36 5 768 2,265.60
06/02/2025 8 592 1,699.04 5 750 2,190.00
06/03/2025 5 900 2,592.00 35 7,032 21,025.68
06/04/2025 17 3,002 8,765.84 8 1,391 4,200.82
06/05/2025 18 3,167 9,152.63 20 3,001 8,762.92
06/06/2025 5 1,068 3,139.92 51 6,609 19,694.82
06/09/2025 16 2,811 8,376.78 16 2,750 8,277.50
06/10/2025 14 1,939 5,758.83 6 728 2,162.16
06/11/2025 12 2,495 7,335.30 - - -
06/12/2025 30 3,687 10,729.17 6 1,200 3,516.00
06/13/2025 11 1,726 4,970.88 15 2,250 6,547.50

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PRESS RELEASE




Buy Side Sell Side

Number of Number of Traded volume in Number of Number of Traded volume in
executions shares EUR executions shares EUR

Total 1 886 322 578 1 074 534,26 1 610 276 147 938 985,90

06/16/2025 12 2,155 6,184.85 3 135 388.80
06/17/2025 16 1,975 5,549.75 7 1,250 3,537.50
06/18/2025 9 1,525 4,254.75 11 1,115 3,188.90
06/19/2025 4 1,000 2,840.00 - - -
06/20/2025 8 2,790 7,867.80 - - -
06/23/2025 57 6,867 18,678.24 1 1 2.73
06/24/2025 12 1,132 3,079.04 3 260 709.80
06/25/2025 38 5,311 14,286.59 6 1,241 3,449.98
06/26/2025 19 2,921 7,740.65 9 1,629 4,349.43
06/27/2025 18 3,117 8,197.71 6 466 1,234.90
06/30/2025 18 3,250 8,612.50 15 2,369 6,396.30


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 ICR Healthcare Westwicke, an ICR Company
Pascaline Clerc, PhD Media relations Patricia L. Bank
EVP, Strategy and Corporate Affairs Alexis Feinberg Investor relations
media@inventivapharma.com inventivapr@icrhealthcare.com patti.bank@westwicke.com
+1 202 499 8937 +1 203 939 2225 +1 415 513-1284



Important Notice

This press release contains “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

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PRESS RELEASE




and estimates with respect to Inventiva’s cash resources and expenses, including expectations and assumptions in
connection with Inventiva’s estimated cash runway, Inventiva’s ability to raise additional funds, the
implementation of the pipeline prioritization plan and related workforce reduction, and the timing thereof
forecasts and estimates with respect to Inventiva’s NATiV3 Phase 3 clinical trial with lanifibranor in patients with
MASH, including design, duration, timing, costs, timing and the impact of the Suspected Unexpected Serious
Adverse Reaction (SUSAR) on the result thereof, and regulatory matters with respect thereto, the information,
insights and impacts that may be gathered from clinical trials, the potential therapeutic benefits of lanifibranor,
potential regulatory submissions, approvals and commercialization, and Inventiva’s pipeline development plans,
future activities, expectations, plans, growth and prospects. Certain of these statements, forecasts and estimates
can be recognized by the use of words such as, without limitation, “believes”, “anticipates”, “expects”, “intends”,
“plans”, “seeks”, “estimates”, “may”, “will”, “would”, “could”, “might”, “should”, “designed”, “hopefully”,
“target”, “potential”, “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 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 the completion of financial closing procedures, that interim data or data from any interim
analysis of ongoing clinical trials may not be predictive of future trial results, the recommendation of the DMC may
not be indicative of a potential marketing approval, Inventiva cannot provide assurance on the impacts of the
SUSAR 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, Inventiva 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 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 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 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

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PRESS RELEASE




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 and its partners’ business, and preclinical studies and clinical development programs and timelines, its
financial condition and results of operations could be materially and adversely affected by changes in law 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, 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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