As previously disclosed, on July 17, 2023, NVN Liquidation, Inc., f/k/a Novan, Inc. (the "Company") and its wholly owned subsidiary, EPI Health, LLC ("EPI Health" and together with the Company, the "Debtors") filed voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). The case is being administered under the caption In re: NVN Liquidation, Inc., et al, f/k/a Novan, Inc., Case No. 23-10937 (the "Chapter 11 Case").

Also as previously disclosed, on January 26, 2024, the Bankruptcy Court entered an order (the "Confirmation Order") confirming the Amended Combined Disclosure Statement and Plan of Liquidation Proposed by the Debtors, dated January 26, 2024 (as amended, modified or supplemented from time to time, the "Plan"). On April 30, 2024 (the "Effective Date"), the Debtors filed a Notice of Effective Date with the Bankruptcy Court and the Plan became effective in accordance with its terms. As of the Effective Date, and in accordance with the Plan, all outstanding equity interests in the Company have been canceled, extinguished and discharged and are of no further force or effect pursuant to the Plan, and the holders of such equity interests will not receive or retain any property on account of such interests. In connection with the effectiveness of the Plan, on the Effective Date, each of W. Kent Geer, Robert J. Keegan, Machelle Sanders, Steven D. Skolsky and Paula Brown Stafford tendered their resignation from the board of directors of the Company, and, in addition, Paula Brown Stafford and John A. Donofrio tendered their resignations as officers of the Company.