Lineage Cell Therapeutics, Inc. is saddened to report the passing of its long-serving Chairman of the Board of Directors, Mr. Alfred D. Kingsley, and offers its deepest condolences to Mr. Kingsley?s family for their loss. Mr. Kingsley served as Chairman of the Company?s Board of Directors since July 2009, and was a significant contributor in the evolution of the Company into a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs. Effective as of April 27, 2024, Michael H. Mulroy, J.D., has been appointed by the Board of Directors to serve as the Chairman of the Board of Directors.

Mr. Mulroy?s background includes experience as a biotech and biopharma corporate executive, and as a corporate attorney and investment banker. He has served as a member of the Board of Directors since 2014 and serves as Chair of the Compensation Committee and as a member of the Audit Committee and the Financial Strategy Committee. Mr. Mulroy brings extensive expertise across a number of operational and functional areas, including corporate finance and development, and clinical and strategic operations.

He previously served as Chief Executive Officer and a member of the board of directors of Asterias Biotherapeutics, Inc. Prior to joining Asterias, Mr. Mulroy served as a Senior Advisor to CamberView Partners, LLC (now part of PJT Partners Inc.), which assists companies in connection with investor engagement and complex corporate governance issues. Prior to its sale in 2014, Mr. Mulroy served as Executive Vice President, Strategic Affairs and General Counsel of Questcor Pharmaceuticals, Inc. (QCOR), where he also previously served as Chief Financial Officer. Mr. Mulroy earned his J.D. degree from the University of California, Los Angeles and his B.A. degree in economics from the University of Chicago.