Sorrento Distributes Dividend Confirmation Statements to 146 Brokerage Firms and Provides Specific Instruction to Continental Stock Transfer & Trust Company Regarding the Dividend of Scilex Holding Company Common Stock

SAN DIEGO, Feb. 03, 2023 (GLOBE NEWSWIRE) — Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) today distributed dividend confirmation statements to 146 brokerage firms regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company (Nasdaq: SCLX, “Scilex”) held by Sorrento. These statements, which contain the account numbers and amount of Scilex dividend shares, were previously mailed out by Continental Stock Transfer & Trust Company. The dividend confirmation statements are being distributed on behalf of Sorrento and Scilex to notify each brokerage firm of Sorrento’s previously announced stock dividend (the “Dividend”) consisting of an aggregate of 76,000,000 shares (the “Dividend Stock”) of common stock of Scilex held by Sorrento to record holders of (i) Sorrento’s common stock (the “Record Common Holders”) as of the close of business on January 9, 2023 (the “Record Date”), and (ii) certain warrants to purchase Sorrento common stock (which have or may have the right to participate in the Dividend pursuant to the terms of their respective warrants). According to Sorrento’s estimates, approximately 60 million or more shares of Sorrento common stock were sold “short” as of the Record Date. In the event the shares of Sorrento common stock were held through a brokerage firm, bank, dealer or other similar organization and were sold “short” as of the Record Date, holders should consult with their financial advisor, broker or other agent immediately to determine whether they may also be deemed “short” Scilex common stock as a result of the Dividend, as well as any obligations required for you to cover your “short” position(s). Please note that “naked short” sales or “naked short” positions in any Sorrento common stock may constitute a violation of the U.S. Securities and Exchange Commission Regulation SHO. Each Record Common Holder is entitled to receive 0.1410127 of a share of Scilex common stock for each one share of Sorrento common stock held by such Record Common Holder as of the close of business on the Record Date. The payment date for the Dividend was January 19, 2023. The resulting fewer number of shares of Scilex common stock that will be available to trade could cause the trading market of the common stock of Scilex to become less liquid. As noted above, Scilex’s transfer agent, Continental Stock Transfer & Trust Company (“CST”), has already distributed to brokerage firms, as the Record Common Holder (for the benefit of their customers that held Sorrento common stock on the Record Date), a book-entry/DRS transaction confirmation (the “Dividend Confirmation Statement”) reflecting the portion of the Dividend Stock allocated to such firm (for the benefit of their customers that held Sorrento common stock on the Record Date), which Dividend Confirmation Statements were mailed to the addresses on record with The Depository Trust & Clearing Corporation. In the event that brokerage firms did not receive copies of the Dividend Confirmation Statements, please contact CST immediately. Sorrento and Scilex are requesting that each brokerage firm distribute the Dividend Stock to the actual beneficial owners thereof and to reflect Scilex’s CUSIP number 80880W106 and value of Scilex common stock on each beneficial owner’s brokerage statement.   Sorrento and Scilex have given specific instructions to Scilex’s transfer agent, CST, on how to answer certain inquiries from Record Holders and brokerage firms: When beneficial holders call CST: CST will direct the beneficial holders to contact their brokers. When brokers call CST: CST needs to confirm with the broker that such broker has received their Dividend Confirmation Statement.If brokers did not get the Dividend Confirmation Statement, CST will distribute the Dividend Confirmation Statement again to the applicable broker. CST will communicate to the brokers that Sorrento and Scilex demand that brokers distribute the Scilex common stock to the individual accounts of the beneficial holders.If brokers refuse to distribute the Scilex common stock, Sorrento and Scilex will work with CST and the beneficial holder in exiting their brokerage accounts out of “street” name and into book entry format with CST so that the beneficial holder becomes the direct holder of record with CST. The beneficial holders will be charged $15 for the exit of such positions from their brokerage accounts. To obtain a copy of the Dividend Confirmation Statement and to have the Dividend Stock reflected on such Dividend Confirmation Statement further distributed to the actual beneficial owners thereof, please contact Scilex’s transfer agent, CST, by phone or email at: Continental Stock Transfer & Trust Company Telephone Number: 800-509-5586 Email Address: [email protected] Broker List Broker NameBroker Address Broker NameBroker AddressABN AMRO CLEARING CHICAGO LLChttps://www.abnamro.com/clearing/en/contact-form175 WEST JACKSON BLVD. CHICAGOIL ILLINOIS 60604 USAlbert Fried & Company [email protected] BROADWAY, 24TH FLOOR24TH FLOOR NEW YORK NY NEW YORK10006 USAMALGAMATED BANKhttps://www.amalgamatedbank.com/contact275 7TH AVENUE NEW YORKNY NEW YORK 10003 USAMERICAN ENTERPRISE INVESTMENT SERVICES [email protected] AMERIPRISE FINANCIAL CENTER MINNEAPOLISMN MINNESOTA 55474 US Broker NameBroker Address Broker NameBroker AddressAPEX CLEARING [email protected] GATEWAYCENTER 283-299 MARKET ST 16TH FLOOR NEWARKNJ NEW JERSEY 07102-5005 USBANK OF AMERICA, NA/GWIM TRUST OPERATIONS1.800.878.7878https://www.privatebank.bankofamerica.com/find-an-advisor.html901 MAIN STREET12TH FLOOR DALLASTX TEXAS 23113 USBANK OF NEW YORK [email protected] SANDERS CREEK PARKWAY 2ND FLOOR2ND FLOOR EAST SYRACUSE NY NEW YORK 13057 US.BARCLAYS CAPITAL [email protected] CUSTODY PARTICIPANT- NY WINDOW -570 WASHINGTON BLVD (ATTN: ROSA HICKS- MILLER OR ROBERT MENDEZJERSEY CITY NJ NEW JERSEY07310 USBARCLAYS CAPITAL [email protected] CUSTODY PARTICIPANT- NY WINDOW -570 WASHINGTON BLVD (ATTN: ROSA HICKS-MILLER OR ROBERT MENDEZ JERSEY CITYNJ NEW JERSEY 07310 USBMO CAPITAL MARKETS CORP.https://capitalmarkets.bmo.com/en/contact-us/3 2ND STREET12TH FLOOR JERSEY CITY NJ NEW JERSEY 07302 USBMO HARRIS BANK NA/TRUSThttps://www.bmoharris.com/main/contact-us/11270 W PARK PL MILWAUKEEWI WISCONSIN 53224 USBMO Nesbitt Burns Inc., [email protected] YONGE STREET,7TH FLOOR7TH FLOOR TORONTO ON ONTARIO M5B 2M8 CACANADABNP PARIBAS, NEW YORK BRANCH/BNP PARIBAS PRIMEBROKERAGE [email protected] WEST 33RD STREET3RD FLOOR NEW YORK NY NEW YORK10001BNP PARIBAS, NEW YORK BRANCH/BNP PARIBAS PRIMEBROKERAGE [email protected] WEST 33RD STREET3RD FLOOR NEW YORK NY NEW YORK10001BNY [email protected] BOX 392002500 ROSS STREET PITTSBURGHPAPENNSYLVANIA 15262 USBNY MELLON/WEALTH [email protected] FREEDOM VALLEY DRIVEOAKSPA PENNSYLVANIA 19456 [email protected] SANDERS CREEK PARKWAY 2ND FLOOR2ND FLOOR EAST SYRACUSEBNYMELLON/RE BARCLAYS CAPITAL SECURITIES [email protected] WALL STREET NEW YORKNY NEW YORK 10286 Broker NameBroker Address Broker NameBroker Address NY NEW YORK 13057 US  BNYMELLON/RE CACEIS BANK [email protected] Grant St.BNY Mellon Center PITTSBURGHPA PENNSYLVANIA15258BNYMELLON/RE CACEIS BANK, [email protected] SANDERS CREEK PARKWAYEAST SYRACUSE NY NEW YORK 13057BNYMELLON/RE CHARLES STANLEY AND COMPANY, [email protected] SANDERS CREEK PARKWAY 2ND FLOOR2ND FLOOR EAST SYRACUSE NY NEW YORK13057 USBNYMELLON/RE ETF – ISHARES DTC/[email protected] SANDERS CREEK PARKWAYEAST SYRACUSE NY NEW YORK 13057BNYMELLON/RE WINTERFLOOD SECURITIES [email protected] Grant St.BNY Mellon Center PITTSBURGHPA PENNSYLVANIA [email protected] Deer Lake Drive EastFL9-803-04-04- 4thfloor JACKSONVILLE FL FLORIDA32246 [email protected] Deer Lake Drive EastFL9-803-04-04- 4thfloor JACKSONVILLE FL FLORIDA32246 USBOFASECURITIES [email protected] Deer Lake Drive EastFL9-803-04-04- 4thfloor JACKSONVILLE FL FLORIDA32246 USBROWN BROTHERS HARRIMAN & [email protected] BROADWAY ATTN: CORPORATE ACTIONS VAULT NEW YORKNY NEW YORK 10005 USBROWN BROTHERS HARRIMAN & CO./[email protected] BROADWAY NEW YORKNY NEW YORK 10005CALDWELL SECURITIES LTD./CDS**[email protected] UNIVERSITY AVENUESUITE 340 TORONTO ON ONTARIOM5J 2H7 CANADACANACCORD GENUITY [email protected] GRANVILLE ST VANCOUVERBC BRITISH COLUMBIAV7Y 1H2 CA CANADACANTOR, FITZGERALD & CO.https://www.cantor.com/investor-center/135 E 57TH ST 5TH FLNEW YORKNY NEW YORK 10041 USCDS CLEARING AND DEPOSITORY SERVICES [email protected] ADELAIDE STREET WEST TORONTOON ONTARIOM5H 1S3 CA CANADACETERA INVESTMENT SERVICES [email protected] FIRST STREETSOUTH, SUITE 300SUITE 300 ST. 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SUITE 100 MONTREAL QUEBECH3A 3K3 CA CANADALPL FINANCIAL [email protected] EXECUTIVE DRIVESAN DIEGOCA CALIFORNIA 92121 USMANUFACTURERS AND TRADERS TRUST COMPANYhttps://www3.mtb.com/homepage/explore-the-m-and-t-bank-help-center/mandt-bank-phone-numbers-by-department/telephone-directoryONE M&T PLAZA TRUST OPS 8TH FLOOR BUFFALONY NEW YORK 14203 US Broker NameBroker Address Broker NameBroker AddressMANULIFE SECURITIES [email protected] NORTH SERVICE ROAD WEST OAKVILLEON ONTARIOL6M 2W2 CA CANADAMARSCO INVESTMENT [email protected] EISENHOWER PARKWAY ROSELANDNJ NEW JERSEY 07068 USMERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATEDhttps://www.ml.com/contactus/contact-us.html4804 Deer Lake Drive EastFL9-803-04-04- 4thfloor JACKSONVILLE FL FLORIDA32246 USMIRAE ASSET SECURITIES (USA) INC./STOCK LOAN CONDUIT ACCOUNT212-407-1000810 SEVENTH AVE37TH FLOOR NEW YORKNY NEW YORK 10019MIRAE ASSET SECURITIES (USA), INC.212-407-1000810 SEVENTH AVE37TH FLOOR NEW YORK NY NEW YORK 10019MITSUBISHI UFJ TRUST & BANKING CORPORATION, NEW YORKBRANCHhttps://safe.tr.mufg.jp/cgi-bin/english/index_contact/index_contact_01.cgi?r=7280 PARK AVE39TH FL-WEST BLDG NEW YORKNY NEW YORK 10017Morgan [email protected] THAMES STREETTHAMES STREET WHARF BALTIMOREMD MARYLAND 21231 USMORGAN STANLEY & CO. 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SUITE 3050 CHICAGOIL ILLINOIS 60604 USPI FINANCIAL [email protected] BURRARD STSUITE 1900 VANCOUVER BC BRITISH COLUMBIAV6C 3N1 CA CANADAPNC BANK, NATIONAL [email protected] 4100 W 150TH STREETASSET MOVEMENT TEAM 3RD FL, LOCATOR B7- YB17-03-03 CLEVELANDOH OHIO 44135 USPRINCIPAL BANKhttps://www.principal.com/contact-us711 HIGH STREET DES MOINESIA IOWA 50392QUESTRADE INC./CDS**[email protected] YONGE ST.,Suite 1700 TORONTO ON ONTARIO M2M 4G3 CACANADARaymond James & Associates, [email protected] CARILLON PKWY ST. PETERSBURGFL FLORIDA 33733-2749 USRAYMOND JAMES [email protected] WEST GEORGIA STREET SUITE 2200 VANCOUVERBC BRITISH COLUMBIA V6C 3L2 CACANADARBC CAPITAL MARKETS, LLC [email protected] SOUTH 6TH ST. 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LOUISMO MISSOURI 63102 USSTONEX FINANCIAL [email protected] PERIMETER PARK SOUTH SUITE 100 W BIRMINGHAM AL ALABAMA35243 USTD AMERITRADE CLEARING, INC.https://www.tdameritrade.com/why-td-ameritrade/contact-us.html200 S 108TH AVE OMAHANE NEBRASKA 68154 USTD WATERHOUSE CANADA INC ATTN: MANDATORYhttps://www.tdameritrade.com/why-td-ameritrade/contact-us.html77 BLOOR STREET WEST3RD FLOOR TORONTOON ONTARIOM5S 1M2 CA CANADATEXAS TREASURY SAFEKEEPING TRUST [email protected] E 10TH ST AUSTINTX TEXAS 78701 US Broker NameBroker Address Broker NameBroker Address    THE BANK OF NEW YORK [email protected] GRANT STREET27TH FLOOR PITTSBURGH PAPENNSYLVANIA 15258 USTHE HUNTINGTON NATIONAL BANKhttps://www.huntington.com/customer-service/contact-us7 EASTON OVAL EA4E62 COLUMBUSOH OHIO 43209 USTHE NORTHERN TRUST COMPANYhttps://www.northerntrust.com/united-states/contact-us-corporate-overview333 South Wabash Ave, 32nd Floor Attn: Trade Securities Processing CHICAGOIL ILLINOIS 60603 USTRADESTATION SECURITIES, [email protected] RIVERSIDE PLAZASUITE 1650 CHICAGO IL ILLINOIS 60606 USU.S. BANCORP INVESTMENTS, [email protected] LIVINGSTON AVEEP-MN-WN1B ST. PAULMN MINNESOTA 55107-1419 USU.S. BANK N.A./ETFhttps://www.usbank.com/investment-services/contact-us.html1555 N RIVER CENTER DRIVE MILWAUKEE WI WISCONSIN 53212U.S. BANK NATIONAL ASSOCIATIONhttps://www.usbank.com/investment-services/contact-us.html1555 NORTH RIVERCENTER DRIVE, SUITE 302SUITE 302 MILWAUKEEWI WISCONSIN 53212 USUBS AGhttps://www.ubs.com/global/en/our-firm/locations.html480 WASHINGTON BLVD.12TH FLOOR JERSEY CITY NJ NEW JERSEY 07310 USUBS FINANCIAL SERVICES [email protected] HARBOR BOULEVARD WEEHAWKEN NJ NEW JERSEY07086 USUBS SECURITIES LLChttps://www.ubs.com/us/en/wealth-management/contact-us.html677 WASHINGTON BLVDSTAMFORDCT CONNECTICUT 06901 US Broker NameBroker Address Broker NameBroker AddressUMB BANK, NATIONAL [email protected] GRAND BLVD KANSAS CITY MO MISSOURI 64106 USVANGUARD MARKETING CORPORATIONhttps://corporate.vanguard.com/content/corporatesite/us/en/corp/contact-us.html100 VANGUARD BLVD MALVERNPA PENNSYLVANIA 19355 USVELOCITY CLEARING, [email protected] Route 36Suite 109 (Attn: Chris Felicetti)HAZLETNEW JERSEY 7730 USVELOX CLEARING [email protected] E. KATELLA AVENUESUITE 725A ANAHEIMCA CALIFORNIA 92806 USVIRTU AMERICAS [email protected] LIBERTY PLAZA, 165 BROADWAY 5TH FLOOR NEW YORK NY NEW YORK10006 USVISION FINANCIAL MARKETS [email protected] HIGH RIDGE PARK SUITE 100 STAMFORDCT CONNECTICUT 06905 USWEDBUSH SECURITIES [email protected] WILSHIRE BLVD8TH FLOOR LOS ANGELESCA CALIFORNIA90017 USWEDBUSH SECURITIES [email protected] WILSHIRE BLVD.LOS ANGELES CA CALIFORNIA 90017 USWELLS FARGO BANK, N.A./SIGhttps://www.wellsfargo.com/help/contact-us/733 MARQUETTE AVE 4TH FLOOR MAC N9306-04D MINNEAPOLISMN MINNESOTA 55402 USWELLS FARGO CLEARING SERVICES LLChttps://www.wellsfargo.com/help/contact-us/1 NORTH JEFFERSON MAIL CODE: H0006- 094ST. LOUISMO MISSOURI 63103 USWELLS FARGO SECURITIES, LLChttps://www.wellsfargo.com/help/contact-us/1525 WEST W T HARRIS BLVD CHARLOTTE NC NORTH CAROLINA28262 USWILSON-DAVIS & CO., [email protected] SOUTH MAIN STREETSALT LAKE CITY UT UTAH84101 US About Sorrento Therapeutics, Inc. Sorrento is a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain (non-opioid treatments), autoimmune disease and COVID-19. Sorrento’s multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as Abivertinib, next-generation tyrosine kinase inhibitors (“TKIs”), fully human antibodies (“G-MAB™ library”), immuno-cellular therapies (“DAR-T™”), antibody-drug conjugates (“ADCs”), and oncolytic virus (“Seprehvec™”). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including STI-1558, COVI-MSC™; and diagnostic test solutions, including COVIMARK™. Sorrento’s commitment to life-enhancing therapies for patients is also demonstrated by our effort to advance a TRPV1 agonist, non-opioid pain management small molecule, resiniferatoxin (“RTX”), and SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (SEMDEXA™), a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, and to commercialize ZTlido® (lidocaine topical system) 1.8% for the treatment of postherpetic neuralgia (PHN). RTX has been cleared for a Phase II trial for intractable pain associated with cancer and a Phase II trial in osteoarthritis patients. Positive final results from the Phase III Pivotal Trial C.L.E.A.R. Program for SEMDEXA™, its novel, non-opioid product for the treatment of lumbosacral radicular pain (sciatica), were announced in March 2022. ZTlido® was approved by the FDA on February 28, 2018. For more information visit www.sorrentotherapeutics.com Media and Investor RelationsContact: Brian CooleyEmail: [email protected] Sorrento® and the Sorrento logo are registered trademarks of Sorrento Therapeutics, Inc.G-MAB™, DAR-T™, Seprehvec™, SOFUSA™, COVI-MSC™, COVIMARK™, Ovydso™ and Fujovee™ are trademarks of Sorrento Therapeutics, Inc.SEMDEXA™ (SP-102) is a trademark of Semnur Pharmaceuticals, Inc. A proprietary name review by the FDA is planned.ZTlido® is a registered trademark owned by Scilex Pharmaceuticals Inc. All other trademarks are the property of their respective owners.©2023 Sorrento Therapeutics, Inc. All Rights Reserved.