On March 20, 2024, ILJIN SNT Co., Ltd delivered a letter to Aurinia Pharmaceuticals Inc.?s management team and Board of Directors to express its concerns regarding the composition of the Company?s management team and the Company?s continued poor performance. In the letter, ILJIN SNT urged the Board of Directors to revamp the Company?s management team and to rationalize the Company?s spending. ILJIN SNT stated that it is now time for a change.

ILJIN SNT added that the Company management has consistently failed to demonstrate its ability to turn around the Company?s performance. ILJIN SNT stated that the Company is in need of a management team that can increase Lupkynis? sales significantly over the coming years and at the same time, formulate and implement a new growth plan and strategy.

ILJIN SNT added that the Company has no choice but to undertake a radical restructuring so that spending going forward can be rationalized. In addition, ILJIN SNT stated that given the Company?s extended lack of performance, the Company?s compensation program should be reformed such that a substantial portion of the compensation for management and board members is based on the Company?s performance, in order to ensure that management and board members? interests are sufficiently aligned with those of shareholders.

ILJIN SNT expressed its view that the changes to the Company?s management and board are long overdue, so that the Company?s value in the market may be restored and begin to grow. ILJIN SNT stated that in this regard, it called on the Company management and the board to take immediate action to implement ILJIN SNT?s strategy set forth in the letter.