Aptose Biosciences (APTO) investor relations material

Executive summary

• A special meeting is called for shareholders to vote on a plan of arrangement for the acquisition of all outstanding shares by a subsidiary of Hanmi Pharmaceutical Co. Ltd. at C$2.41 per share in cash, following a continuance from the CBCA to the ABCA.

• The board, following a unanimous recommendation from an independent transaction committee and a fairness opinion from Locust Walk Securities, unanimously recommends voting in favor of both the continuance and the arrangement.

• The transaction is structured as a statutory plan of arrangement under Alberta law, with delisting from TSX and OTC Markets and deregistration under Canadian and U.S. securities laws upon completion.

• The arrangement is subject to shareholder approval, court approval, and regulatory filings, with dissent rights available to registered shareholders.

Voting matters and shareholder proposals

• Shareholders will vote on two key proposals: (1) continuance to Alberta jurisdiction, and (2) approval of the arrangement for acquisition by Hanmi's subsidiary.

• Approval requires at least 66 2/3% of votes cast for each resolution, with additional majority approval from minority shareholders for the arrangement.

• Dissent rights are available for both proposals, with strict procedural requirements.

• Support and voting agreements have been signed by directors and officers holding 0.26% of shares.

Board of directors and corporate governance

• The transaction committee, composed of independent directors, oversaw the process, engaged independent legal and financial advisors, and led negotiations.

• The board and committee considered alternatives, including insolvency, and determined the arrangement was in the best interests of stakeholders.

• The board and committee's recommendation is based on the premium offered, certainty of cash consideration, and lack of superior alternatives.