Jaguar Health Converts Preferred Stock to Common Stock

Jaguar Health hereby notifies holders of its Series O Convertible Preferred Stock, par value $0.0001 per share, that the Company has exercised its right to cause the optional conversion of the Preferred Stock pursuant to Section 6(a) of the Certificate of Designation of Preferences, Rights and Limitations of Series O Convertible Preferred Stock. Each share of Preferred Stock will automatically be converted into 3.209 shares of voting common stock, par value $0.0001 per share, of the Company at 12:00 pm Eastern Time on June 25, 2026. Fractional shares of Common Stock will not be issued as a result of the conversion of the Preferred Stock. Instead, holders of shares of Common Stock who otherwise would have been entitled to receive a fractional share as a result of the conversion will receive an amount in cash equal to the fair value of such fractional interest, based on a price per share of $2.68, the closing price per share of Common Stock on June 24, as reported on the Nasdaq Stock Market. No action by holders of the Preferred Stock is required. As announced February 18, Jaguar's Board of Directors declared a one-time special stock dividend to holders of Jaguar Common Stock and certain outstanding warrants as of record on March 2. The Special Stock Dividend consisted of the Preferred Stock. Only persons who owned shares of the Company's Common Stock, or certain warrants to purchase Common Stock with dividend rights, at the close of business on the March 2 record date were entitled to receive shares of the Preferred Stock.