REG-Mural Oncology Announces Effectiveness of Scheme of Arrangement and Completion of Acquisition

Mural OncologyAnnouncement

05/12/2025 12:45

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WALTHAM, Mass. and DUBLIN, Dec. 05, 2025 (GLOBE NEWSWIRE) -- Mural Oncology
plc, (Nasdaq: MURA) (“Mural”) announces that the scheme of arrangement
between Mural and its shareholders under Chapter 1 of Part 9 of the Companies
Act 2014 (the “Scheme”) pursuant to which XRA 5 Corp. (“Sub”), a
wholly-owned subsidiary of XOMA Royalty Corporation (Nasdaq: XOMA) (“XOMA
Royalty”) will acquire the entire issued and to be issued share capital of
Mural, became effective today, 5 December 2025 (the “Effective Date”).

Distribution of cheques and crediting of DTC participant accounts for the cash
consideration paid by Sub to Scheme Shareholders under the terms of the Scheme
is expected to commence as soon as practicable following the Effective Date,
with DTC participant accounts expected to be credited and the distribution of
cheques expected to be complete as soon as practicable. In accordance with the
requirements of the Irish Takeover Rules, all consideration paid by Sub to
Scheme Shareholders under the terms of the Scheme will be distributed by no
later than 19 December 2025.

Cancellation of the admission of Mural Shares to trading on the Nasdaq Global
Market occurred with effect from 8.00 pm (U.S. Eastern Time) on 4 December
2025.

Except as otherwise defined herein, capitalised terms used but not defined in
this announcement have the same meanings as given to them in the definitive
proxy statement of Mural dated 23 September 2025 relating to the Acquisition,
which also constitutes a scheme circular under Irish law.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

Enquiries

Mural Oncology plc
ir@muraloncology.com

Lucid Capital Markets, LLC (Financial Adviser to Mural)
570 Lexington Ave, 40th Floor
New York, NY 10022

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this announcement regarding matters that are not
historical facts are “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995 with respect to Mural,
XOMA Royalty or Sub. Forward-looking statements are intended to be identified
by words such as “anticipate”, “target”, “expect”, “estimate”,
“intend”, “plan”, “believe”, “will”, “may”, “would”,
“could” or “should” or other words of similar meaning or the negative
thereof. Forward-looking statements include but are not limited to statements
regarding the expected timing of the payment of the consideration paid by Sub
to Scheme Shareholders and the expected timing of the cancellation of the
admission of Mural Shares to trading on the Nasdaq Global Market.

These forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results to be
materially different from those expressed or implied by such forward-looking
statements. Risks and uncertainties that may cause actual results to differ
from expectations include: risks and uncertainties pertaining to Mural’s
business, including those described in Mural’s most recent Annual Report on
Form 10-K, Quarterly Report on Form 10-Q filed with the U.S. Securities and
Exchange Commission (the “SEC”) and definitive proxy statement filed with
the SEC on 23 September 2025, as well as Mural’s subsequent filings with the
SEC; and other potential risks and uncertainties related to XOMA Royalty,
including those described in more detail in XOMA Royalty’s most recent
Annual Report on Form 10-K, Quarterly Report on Form 10-Q and its other
filings with the SEC. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date when made. All
subsequent oral or written forward-looking statements attributable to Mural,
XOMA Royalty or Sub or any persons acting on their behalf are expressly
qualified in their entirety by the cautionary statement above. None of Mural,
XOMA Royalty or Sub undertake any obligation to update or revise the
forward-looking statements contained in this announcement, whether as a result
of new information, future events or otherwise, except to the extent legally
required.

Statements Required by the Irish Takeover Rules 

The directors of Mural accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the directors of
Mural (who have taken all reasonable care to ensure such is the case), the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.

Lucid, which is authorized and regulated by the SEC and the Financial Industry
Regulatory Authority (“FINRA”) in the United States, is acting as
financial adviser exclusively for Mural and for no one else in connection with
the subject matter of this Announcement and will not regard any other person
as its client in relation to the matters in this Announcement and will not be
responsible to anyone other than Mural for providing the protections afforded
to clients of Lucid or its affiliates, nor for providing advice in relation to
any matter referred to in this Announcement. Neither Lucid nor any of its
subsidiaries, affiliates or branches owes or accepts any duty, liability or
responsibility whatsoever (whether direct, indirect, consequential, whether in
contract, in tort, under statute or otherwise) to any person who is not a
client of Lucid in relation to the matters in this Announcement, any statement
or other matter or arrangement referred to herein or otherwise.

Davy Corporate Finance, which is authorized and regulated in Ireland by the
Central Bank of Ireland, is acting exclusively for XOMA Royalty and no one
else in connection with the matters referred to in this Announcement and will
not be responsible to anyone other than XOMA Royalty for providing the
protections afforded to clients of Davy Corporate Finance or for providing
advice in connection with the matters referred to in this Announcement.

Wilmer Cutler Pickering Hale and Dorr LLP and Arthur Cox LLP are acting as
legal advisers on U.S. and Irish law matters respectively to Mural, and
Gibson, Dunn & Crutcher LLP and Mason Hayes & Curran LLP are acting as legal
advisers on U.S. and Irish law matters respectively to XOMA Royalty and Sub.

General

The release, publication or distribution of this announcement in or into
certain jurisdictions may be restricted by the laws of those jurisdictions.
Accordingly, copies of this announcement and all other documents relating to
the Acquisition are not being, and must not be, released, published, mailed or
otherwise forwarded, distributed or sent in, into or from any such restricted
jurisdictions. Persons receiving such documents (including, without
limitation, nominees, trustees and custodians) should observe these
restrictions. Failure to do so may constitute a violation of the securities
laws of any such jurisdiction. To the fullest extent permitted by applicable
law, each of Mural, XOMA Royalty and Sub disclaims any responsibility or
liability for the violations of any such restrictions by any person.

Publication on a Website

In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this
announcement will be available on Mural’s website at
https://ir.muraloncology.com/ by no later than 12:00 noon (U.S. Eastern Time)
on the business day following publication of this announcement. Neither the
content of the website referred to in this announcement nor the content of any
other websites accessible from hyperlinks on such website is incorporated
into, or forms part of, this announcement