On December 26, 2023, Madryn Asset Management, LP announced that on December 22, 2023, it has reiterated its view that there is a viable alternative to the proposed merger with Standard BioTools Inc. Madryn Asset added that its view that the Company?s considerable cash position and near-term commercial opportunities mitigate the need for the Company to enter into a value-destructive combination that it believes the result of a flawed and highly conflicted process. Now that the Company?s Board of Directors has learned of the growing shareholder opposition to the Proposed Merger, it should consider the future if the deal is terminated. Additionally, Madryn noted that Institutional Shareholder Services, Inc. has issued a seemingly flawed report that recommended cautionary support for the Proposed Merger.

Based upon a preliminary review, Madryn believes that the ISS report contains inaccurate information and omissions, and that it is inconsistent with past recommendations and intends to issue a communication in the near-term that lays these issues out. Madryn stated that it remains committed to helping the Company pursue a better path forward and stand willing to engage with the Board to reach a superior outcome that is in the best interests of all shareholders. Madryn recommended shareholders to vote against the proposed merger will protect the value of shareholders?

investment and allow the Company to pursue vastly superior alternatives.