Exicure, Inc. (NASDAQ:XCUR), a clinical-stage biotechnology company developing therapeutics for hematologic diseases, today released the following notice:

TO: ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF EXICURE, INC. ("EXICURE" OR THE "COMPANY") COMMON STOCK AS OF MARCH 18, 2026. 

PLEASE READ THIS SUMMARY NOTICE CAREFULLY AND IN ITS ENTIRETY AS YOUR RIGHTS MAY BE AFFECTED BY PROCEEDINGS IN THE LITIGATION.

YOU ARE HEREBY NOTIFIED that the above-captioned consolidated stockholder derivative action (the "Illinois Action"), is being settled on the terms set forth in a Stipulation and Agreement of Settlement dated March 18, 2026 (the "Stipulation").

The Derivative Matters allege claims against each of the Individual Defendants1 for breach of fiduciary duty, and/or other violations of law, including the federal securities laws and unjust enrichment, in connection with their causing the Company to fail to maintain adequate internal controls with respect to ensuring the proper collection, analysis, and reporting of the data generated by its studies, and by making and/or causing the Company to make false and misleading statements and omissions to the public regarding the foregoing and the viability of the Company's drug candidate, XCUR-FXN. The Derivative Matters allege that, as a result of the foregoing, the Company experienced reputational and financial harm. Defendants have denied and continue to deny each and all of the claims and allegations of wrongdoing asserted in the Derivative Matters.

Pursuant to the terms of the Settlement, Exicure agrees to implement and maintain certain corporate governance reforms that are outlined in Exhibit A to the Stipulation (the "Reforms"). The Reforms shall be maintained for four (4) years, unless otherwise stated in Exhibit A to the Stipulation. Exicure acknowledges and agrees that the filing, pendency, and settlement of the Derivative Matters was the cause of the Company's decision to adopt and implement the agreed-upon governance reforms. Exicure also acknowledges and agrees that the Reforms confer substantial benefits to Exicure and Exicure's stockholders.

After negotiating the principal terms of the Settlement, counsel for the Parties negotiated the attorneys' fees and expenses to be paid to Plaintiffs' Counsel, subject to Court approval (the "Fee and Expense Amount"). In light of the substantial benefits conferred upon the Company and its stockholders, Exicure's insurers shall pay to Plaintiffs' Counsel six hundred seventy-five thousand dollars ($675,000.00) for their attorneys' fees and expenses, subject to Court approval. Defendants also agreed not to object to the request for the Court to approve Service Awards of up to two thousand dollars ($2,000.00) for each of the Plaintiffs, to be paid from the Fee and Expense Amount.

On June 2, 2026 at 10:30 a.m., a hearing (the "Settlement Hearing") will be held before the Honorable Manish S. Shah at the United States District Court for the Northern District of Illinois, Eastern Division, Everett McKinley Dirksen U.S. Courthouse, 219 South Dearborn Street, Chicago, Illinois 60604, for the purpose of determining whether the Settlement should be approved as fair, reasonable, and adequate and whether the Court should approve the agreed-to Fee and Expense Amount and the Service Awards for Plaintiffs. Because this is not a class action, except as otherwise provided for in the Stipulation with respect to the Plaintiffs, no Current Exicure Stockholder has the right to receive any individual compensation as a result of the Settlement.