On May 1, 2023, Lisata Therapeutics, Inc. (Company), after a careful review of capital utilization and prioritization, eliminated the position of President and Chief Business Officer, and terminated the employment of Mr. David Slack, effective immediately. Pursuant to the employment agreement, dated as of September 15, 2022, by and between the Company and Mr. Slack (the “Employment Agreement”), the termination of Mr. Slack's employment also constituted his resignation from any director, officer, employee or committee position he has with the Company or any of its affiliates and the Employment Agreement shall serve as written notice of resignation upon such termination. Accordingly, Mr. Slack has effectively resigned from the Company's Board of Directors as of May 1, 2023 pursuant to the terms of his Employment Agreement.