Scilex Holding Company Ownership Update Post-Business Combination

Scilex Holding Company and its subsidiaries, Scilex, Inc. and Scilex Bio, Inc., have reported their ownership of shares in Denali Capital Acquisition Corp. (now known as Semnur Pharmaceuticals, Inc.) following a business combination. Scilex, Inc. owns 193,750,000 shares of Common Stock, while Scilex Bio, Inc. owns 6,250,000 shares. Additionally, Scilex Holding Company directly owns 1,054,849 shares of Common Stock, which includes shares issued upon the conversion of a Convertible Promissory Note and shares purchased prior to the business combination. The business combination was executed under the terms of the Agreement and Plan of Merger dated August 30, 2024, and amended on April 16, 2025, and July 22, 2025. The report was signed by Henry Ji, the Chief Executive Officer and President of both Scilex Holding Company and Scilex, Inc.