Failure to Satisfy Listing Rule (Form 8-K)

On February 12, 2026, IO Biotech, Inc. (the "Company") received notice (the "Notice") from the Listing Qualifications staff of The Nasdaq Stock Market LLC ("Nasdaq") that the Company is not in compliance with the continued listing requirements for The Nasdaq Global Select Market because the market value of the Company's listed securities ("MVLS") was below the minimum of $50 million for a period of 30 consecutive business days, as required by Nasdaq Listing Rule 5450(b)(2)(A) (the "MVLS Requirement").

The Notice has no immediate effect on the listing of the Company's common stock on the Nasdaq Global Select Market, and the Company's common stock will continue to trade on the Nasdaq Global Select Market.

In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has been provided 180 calendar days from the date of the Notice, or until August 11, 2026 (the "Compliance Date"), to regain compliance with the MVLS Requirement. Nasdaq has indicated that the Company will regain compliance if the MVLS meets or exceeds $50 million for a minimum of ten consecutive business days during the 180-daycompliance period. Nasdaq may however, in its discretion, require the Company to demonstrate compliance for a longer period.

If the Company does not regain compliance by the Compliance Date, Nasdaq has indicated that it would notify the Company in writing that the Company's common stock is subject to delisting. At that time, the Company may be eligible to appeal any delisting determination in accordance with applicable Nasdaq procedures.

There can be no assurance that the Company will regain compliance with the MVLS Requirement or will otherwise comply with other applicable Nasdaq listing rules.