Foreign Currency Exchange Risk We derive a significant portion of our revenues, including payments under our collaboration agreement with AstraZeneca and with Allogene, in U.S. dollars. Since the beginning of fiscal year 2015, we have been significantly expanding our activities in the United States, but there continues to be a currency mismatch in our cash flows since most of our expenses remain denominated primarily in Euros. The group monitor closely the foreign currency exchange risk and apply appropriate hedging strategy to mitigate the risk. Our exposure to currencies other than the U.S. dollar is negligible. Our financial condition and results of operations are measured and recorded in the relevant functional currency and then translated into Euros for inclusion in our Consolidated Financial Statements as established in functional currency. For presentation purposes, our Consolidated Financial statements are presented in US dollars. Please refer to the note 2.2 and 2.4 to the Consolidation Financial Statements for more information regarding applicable translation rules. For the year ended December 31, 2025, our revenues denominated in U.S. dollars are mainly related to AstraZeneca collaboration agreement. Our cash and cash equivalents denominated in U.S dollars amounted to $31.2 million as of December 31, 2025. Current financial assets, excluding restricted cash, denominated in U.S. dollars amounted to $138.9 million. For more information, see “Item 5.A—Operating Results.” The net foreign exchange result for the fiscal year 2025 is a loss of $22.1 million. We cannot rule out the possibility that a significant increase in our business, particularly in the United States, may result in greater exposure to exchange rate risk. We would then consider adopting an appropriate policy for hedging against these risks. Interest Rate Risk We seek to engage in prudent management of our cash and cash equivalents, mainly cash on hand and common financial instruments (typically short- and mid-term deposits). Furthermore, the interest rate risk related to cash, cash equivalents and common financial instruments is not significant based on the quality of the financial institutions with which we work. Share price risk We have financial instruments whose value depends on Cellectis share price, in particular the warrants granted to EIB under the Finance Contract. Under the terms of the Warrant Agreement that supplements the Finance Contract, we are committed in the event of exercise of the warrants by the EIB to deliver Cellectis ordinary shares, the fair value of which will depend on the future share price. Inflation Risk We do not believe that inflation has had a material effect on our business, financial condition or results of operations. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could harm our business, financial condition and results of operations. Liquidity risk As of December 31, 2025, our financial debt primarily consists of lease debts for $35.4 million, a liability related to the EIB loan of $47.2 million, the 2022 Research Tax Credit financing with BPI for $6.2 million, a loan from a bank syndicate formed with HSBC, Société Générale, Banque Palatine and Bpifrance in the form of the PGE for $4.1 million, and conditional advances from BPI for $4.0 million. All of those amounts are excluding future interests. See Note 10.3 to our consolidated financial statements for more information on these and other market risks.