Amendment to Current Report (Form 8-K/A)

Jaguar Health Announces Plan to Explore Strategic Alternatives

Aligned with Targeted NDA Filing for Rare Disease Intestinal Failure Program

Reminder: Lisa Conte, Jaguar's founder & CEO, to present on June 24, 2026 at the Life Sciences Virtual Investor Forum to provide updates on company's crofelemer development program for rare intestinal failure diseases; click here to register

San Francisco, CA (June 22, 2026): Jaguar Health, Inc. (NASDAQ: JAGX) ("Jaguar" or the "Company") today announced that its Board of Directors has initiated a process to explore and review a range of strategic alternatives focused on maximizing stockholder value and aligned with our anticipated completion of the clinical work supporting our filing of a New Drug Application (NDA) by the Company for our crofelemer-based prescription drug candidate for rare intestinal failure diseases. Strategic alternatives under consideration may include, but are not limited to mergers, reverse mergers, acquisitions, partnerships, joint ventures, licensing arrangements or other strategic transactions, and may involve biotech or non-biotech companies.

"We remain sharply focused on and committed to our development program for crofelemer for treatment of rare intestinal failure diseases," said Lisa Conte, Jaguar's founder, president, and CEO, "and we believe the process of identifying a suitable strategic alternative for the Company will support our goal of maximizing the value of the opportunity we feel our intestinal failure development program represents - for all stakeholders, including patients, the healthcare community, and Jaguar shareholders."

Patients with intestinal failure (IF) cannot absorb enough nutrients or fluids and therefore require lifelong nutritional support delivered intravenously, often up to seven days per week and 20 or more hours per day. While lifesaving, nutritional support is associated with serious complications. A third-party market research report estimates that the global value of the nutritional support market for microvillus inclusion disease (MVID), an ultrarare congenital disorder with a lethal natural history and no approved therapies, is approximately $1.1 billion in 2026, rising to approximately $1.5 billion in 2033.¹

In an ongoing investigator-initiated proof-of-concept trial in pediatric patients with intestinal failure due to MVID and short bowel syndrome (SBS-IF), crofelemer demonstrated a reduction of parenteral support (nutritional support combined with supplemental intravenous fluids) of up to 37%. A late-breaking abstract providing updates about this trial will be presented at the European Society for Pediatric Gastroenterology, Hepatology & Nutrition (ESPGHAN) Annual Meeting in June 2026.

There can be no assurance that exploration of strategic alternatives by Jaguar will result in the Company entering or completing any transaction. Jaguar does not intend to make any further disclosures regarding the strategic review process unless and until a specific course of action is approved.

About the Jaguar Health Family of Companies

Jaguar Health, Inc. ("Jaguar") develops novel proprietary prescription drugs sustainably derived from plants for people with complicated gastrointestinal ("GI") disease states. Jaguar family companies Napo Pharmaceuticals, Inc. and Napo Therapeutics S.p.A. focus on the development and commercialization of novel crofelemer powder for oral solution for the treatment of rare and orphan gastrointestinal disorders with intestinal failure, including microvillus inclusion disease and short bowel syndrome. Magdalena Biosciences, a joint venture formed by Jaguar and Filament Health Corp. that emerged from Jaguar's Entheogen Therapeutics Initiative (ETI), is focused on developing novel prescription medicines derived from plants for mental health indications.

For more information about:

Jaguar Health, visit https://jaguar.health

Napo Pharmaceuticals, visit napopharma.com

Napo Therapeutics, visit napotherapeutics.com

Magdalena Biosciences, visit magdalenabiosciences.com