On November 12, 2024, James Murphy resigned as Mustang Bio, Inc.'s Interim Chief Financial Officer. Mr. Murphy's resignation was not a result of any disagreement on any matter relating to the Company's operations, policies or practices. On November 15, 2024, the Company's Board of Directors (the Board") appointed Manuel Litchman, M.D., President and Chief Executive Officer of the Company, as the Company's Interim Chief Financial Officer, effective immediately.

Dr. Litchman, age 70, has been the Company's President and Chief Executive Officer, and a member of the Board, since April 2017, and previously served as Interim Chief Financial Officer in December 2023 and January 2024.