As previously disclosed by Scilex Holding Company (Company), on February 13, 2023, Sorrento Therapeutics Inc. (Sorrento), together with its wholly-owned direct subsidiary, Scintilla Pharmaceuticals Inc., commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code (Bankruptcy Code) in the United States Bankruptcy Court for the Southern District of Texas (Bankruptcy Court). On August 29, 2023, Jaisim Shah notified the Board that he was retiring from the Board, all committees of the Board, his position as the Chief Executive Officer and President of the Company and any position as a director or officer of any subsidiary of the Company, effective as of and contingent upon the closing of the Oramed Transaction.