Tourmaline Employee Email (Form SC14D9C)

Tourmaline Employee Email

Sender: Sandeep Kulkarni

Subject: Important Company Announcement

Send Date: September 9, 2025

Distribution: All Employees

Dear Tourmaline team:

Today is a major milestone for Tourmaline. A short while ago, we announced that we have entered into an agreement with Novartis AG ("Novartis"), pursuant to which Novartis, through its subsidiary, will acquire Tourmaline for $48.00 per share in cash at closing, or a total equity value of approximately $1.4 billion. Completion of the transaction is expected in the fourth quarter of 2025, subject to the satisfaction or waiver of customary closing conditions. Until that time, Tourmaline will continue to operate as a separate and independent company. You can read the full press release here: https://ir.tourmalinebio.com/news-releases/news-release-details/tourmaline-bio-enters-agreement-be-acquired-novartis-ag.

This is an exciting development - we firmly believe that this is the best next step in advancing our mission to develop transformative medicines that establish new standards of care for patients with life-altering inflammatory and immune diseases. We are thrilled that Novartis, a company with deep roots and commitment to innovation in the cardiovascular, renal, and metabolic disease space, will continue to advance this mission. Novartis shares our conviction in the critical, but largely unaddressed, role of inflammation in driving cardiovascular diseases and will be an ideal partner to accelerate the development of pacibekitug. Novartis's established global development and commercial capabilities will enable this important new medicine, if approved, to reach patients with the expanded resources, scale, and global footprint of Novartis.

We know that you will most certainly have questions, and as with most transactions of this nature, it will take time to answer them. With that said, we are committed to providing you with new information as it is available. As a start, please join me for an all-company meeting today at 10:00am Eastern Time; an Outlook invitation with details has been distributed. We have also prepared an internal (for employees only) "Frequently Asked Questions" document that you can access here.

During this critically important time for our company, it is essential that we speak with one voice. Should you receive any calls or requests from the media, vendors, or other interested parties regarding this announcement, please do not respond and direct all inquiries to the contacts listed in the employee FAQ document referenced above. Please also refrain from posting or otherwise commenting on the pending transaction publicly, including on social media.

The coming weeks will be a journey for all of us. I want to extend my heartfelt thanks to you all for your hard work and contributions to this milestone and continued commitment to our mission and the patients we hope to serve. I'm incredibly grateful to this team and proud of the company we've built together.

Sincerely,

Sandeep