Adalvo Ltd.

GENEVA--( BUSINESS WIRE )--Lucien Selce, who owns approximately 2.2% of the outstanding shares of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (“Aurinia” or the “Company”), today issued the below open letter to the Board of Directors (the “Board”) regarding the urgent need for accountability and boardroom changes. *** August 13, 2024 Aurinia Pharmaceuticals Inc. #140, 14315 – 118 Avenue Edmonton, AB T5L 4S6 Canada Attention: The Board of Directors Members of the Board, Over the past few months, I have expressed my concerns regarding the Company’s current strategy and trajectory due to the Board’s lack of appropriate oversight and relevant skillsets. Recent developments following the 2024 Annual General Meeting (the “AGM”) have made clear that current leadership has no interest in acting in shareholders’ best interests and in protecting the future of the Company. The fact that four of the nine directors up for re-election at the 2024 AGM, including CEO Peter Greenleaf, failed to secure a majority of the votes speaks volumes about the need for boardroom change and a new strategy for value creation. 1 The current state of affairs at Aurinia – marked by unchecked spending, ineffective leadership, and a clear lack of strategic direction – demands immediate and decisive action. Aurinia Has Spent Excessive Capital Without Focusing on Research and Development (“R&D”) The Company has recklessly spent $100 million in just six months, yet there has been little to no investment in R&D, which is the cornerstone of Aurinia’s future growth. This irresponsible financial management is unacceptable. Aurinia should be operated efficiently with a budget of $70 million – not $150 million. The current financial strategy is unsustainable and detrimental to shareholder value. Management Continues to Pursue an Ineffective Strategy In February 2024 , the Company publicly announced the discontinuation of AUR200. Then, during the Q2 2024 earnings call, Mr. Greenleaf reversed this decision, stating that its development had resumed. This inconsistency not only undermines the credibility of the Company’s leadership, but also raises serious concerns about transparency with the market. Moreover, during the same earnings call, it was openly acknowledged that the Company struggled to achieve the expected sales of LUPKYNIS. In addition, ADALVO (a generic drug manufacturer) has come up with a Voclosporin-based product, akin to a generic version of LUPKYNIS. This development, which could upset the Company’s competitive position, was not even discussed by management. Leadership Has a Track Record of Ignoring Shareholders’ Interests Despite announcing a $150 million share repurchase program in February 2024, only $18 million has been spent over the last six months, even as the Company continues to trade at rock bottom levels. This lack of action is a missed opportunity to support the share price and demonstrates poor judgment by leadership. After being voted out at the recent AGM, Mr. Greenleaf and three other directors remain in their positions. The Board’s failure to accept conditional director resignations and Mr. Greenleaf’s avoidance of this topic during the latest earnings call demonstrate a blatant disregard for shareholders’ votes and sound governance. The issues outlined above highlight the urgent need for effective oversight and changes to the composition of the Board. In my view, the only way the Company can improve its trajectory and begin creating value for shareholders is by taking the below steps: Dr. Brinda Balakrishnan, Dr. Robert T. Foster, and Mr. Greenleaf should each submit their immediate firm (not provisional) resignations, as they have failed in their respective roles. At the 2024 AGM, 52.5% of shareholders withheld support for Dr. Balakrishnan, 51.8% withheld support for Mr. Greenleaf, and Dr. Foster was narrowly elected with just 51.4% support. 2 These three directors should be held responsible for the lack of meaningful M&A activity, the absence of significant research initiatives, and the consistent failure to meet the Company’s objectives. The Board should appoint two shareholder representatives: one from MKT Capital and one from ILJIN SNT Co., Ltd. (“ILJIN”). This will ensure that the interests of the Company’s owners are directly represented in all strategic decisions moving forward. The Board should reduce its size to streamline decision-making and enhance accountability. ILJIN, a significant shareholder of Aurinia, should call for an Extraordinary General Meeting as soon as possible. This meeting is essential to address the aforementioned urgent issues, execute necessary leadership changes, and realign the Company’s strategic direction with shareholders’ interests. The time for change is now. Continued mismanagement of Aurinia threatens the future of our Company and the value we, as shareholders, have entrusted to you. I expect immediate action to rectify these issues. Furthermore, I want to emphasize that under no circumstances should the Board proceed with acquiring additional assets that could jeopardize the Company's cash flow and financial stability. This reckless behavior must be halted to preserve the long-term health of Aurinia. Sincerely, Lucien Selce *** ________________________ 1 Company’s Form 8-K dated June 14, 2024. 2 Company’s Form 8-K dated June 14, 2024.

BASEL, Switzerland I May 4, 2023 I Sandoz, a global leader in generic pharmaceuticals and biosimilars, today announced that it has signed a distribution and collaboration agreement with Adalvo for exclusive Sandoz rights to commercialize six products in the US across key therapeutic areas, including antifungal/antibiotic, oncology and pulmonary. “Sandoz is putting patients first by securing the rights to bring more affordable, equally effective treatments for a range of disorders that collectively affect millions of people in the US every year,” said Keren Haruvi, President, Sandoz Inc. “This agreement also helps advance our ambition to be the world’s largest and most valued generics company.” These products, which are slated for near- to mid-term launches beginning in 2024, have a total addressable market size of approximately USD 3 bn, further advancing the Sandoz product pipeline in the key US generics market. The agreement also demonstrates the unwavering Sandoz commitment to pioneering patient access to critical medicines in areas of greatest unmet need. In addition to building out the Sandoz US offering in these key areas, the antibiotic products would also underpin the Sandoz strategy of combatting the global spread of antimicrobial resistance (AMR) by driving responsible access to a broad range of appropriate treatments. About Sandoz Sandoz, a Novartis division, is a global leader in generic pharmaceuticals and biosimilars. Our purpose is to pioneer access for patients by developing and commercializing novel, affordable approaches that address unmet medical needs. Our ambition is to be the world’s leading and most valued generics company. Our broad portfolio of high-quality medicines, covering major therapeutic areas, accounted for 2022 sales of USD 9.2 billion. SOURCE: Novartis

Agreement offers exclusive rights to commercialize six products in key areas of anti-infectives and oncology. Products from Adalvo slated for near- to mid-term launches, with four out of six anticipated to be first-to-market Sandoz continues to expand patient access to much-needed medications, drive patient savings, and ensure the sustainability of healthcare systems worldwide Basel, May 4, 2023 – Sandoz, a global leader in generic pharmaceuticals and biosimilars, today announced that it has signed a distribution and collaboration agreement with Adalvo for exclusive Sandoz rights to commercialize six products in the US across key therapeutic areas, including antifungal/antibiotic, oncology and pulmonary. “Sandoz is putting patients first by securing the rights to bring more affordable, equally effective treatments for a range of disorders that collectively affect millions of people in the US every year,” said Keren Haruvi, President, Sandoz Inc. “This agreement also helps advance our ambition to be the world’s largest and most valued generics company.” These products, which are slated for near- to mid-term launches beginning in 2024, have a total addressable market size of approximately USD 3 bn, further advancing the Sandoz product pipeline in the key US generics market. The agreement also demonstrates the unwavering Sandoz commitment to pioneering patient access to critical medicines in areas of greatest unmet need. In addition to building out the Sandoz US offering in these key areas, the antibiotic products would also underpin the Sandoz strategy of combatting the global spread of antimicrobial resistance (AMR) by driving responsible access to a broad range of appropriate treatments. Disclaimer This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “potential,” “can,” “will,” “plan,” “may,” “could,” “would,” “expect,” “anticipate,” “look forward,” “believe,” “committed,” “investigational,” “pipeline,” “launch,” or similar terms, or by express or implied discussions regarding potential marketing approvals, new indications or labeling for the investigational or approved products described in this press release, or regarding potential future revenues from such products. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the investigational or approved products described in this press release will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Neither can there be any guarantee that, if approved, such generic or biosimilar products will be approved for all indications included in the reference product’s label. Nor can there be any guarantee that such products will be commercially successful in the future. In particular, our expectations regarding such products could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; the particular prescribing preferences of physicians and patients; competition in general, including potential approval of additional generic or biosimilar versions of such products; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; litigation outcomes, including intellectual property disputes or other legal efforts to prevent or limit Sandoz from selling its products; general political, economic and business conditions, including the effects of and efforts to mitigate pandemic diseases such as COVID-19; safety, quality, data integrity or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information technology systems, and other risks and factors referred to in Novartis AG’s current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise. About SandozSandoz, a Novartis division, is a global leader in generic pharmaceuticals and biosimilars. Our purpose is to pioneer access for patients by developing and commercializing novel, affordable approaches that address unmet medical needs. Our ambition is to be the world’s leading and most valued generics company. Our broad portfolio of high-quality medicines, covering major therapeutic areas, accounted for 2022 sales of USD 9.2 billion. Sandoz on social media:LinkedIn: https://www.linkedin.com/company/sandozTwitter: https://twitter.com/sandoz_globalFacebook: https://www.facebook.com/sandozglobal/Instagram: https://www.instagram.com/sandozglobal CEO Richard Saynor on LinkedIn: https://www.linkedin.com/in/richard-saynor/ # # # Sandoz Global Communications Central North America Chris Lewis +49 174 244 9501chris.lewis@sandoz.com Vicki Crafton +1 201.213.6338 (mobile)vicki.crafton@sandoz.com Novartis Media Relations E-mail: media.relations@novartis.com CentralRichard Jarvis North AmericaJulie Masow +41 79 584 2326+1 862 579 8456 Switzerland Satoshi Sugimoto +41 79 619 2035 Novartis Investor RelationsCentral investor relations line:+41 61 324 7944E-mail: investor.relations@novartis.com Central North America Samir Shah +41 61 324 7944 Sloan Simpson +1 862 345 4440 Nicole Zinsli-Somm +41 61 324 3809 Parag Mahanti +1 973 876 4912 Isabella Zinck +41 61 324 7188