The Scripps Research Institute

“On june 11, 2025, the audit committee reviewed a draft of the form 990 (including all supplemental schedules). This review included a presentation of the statements by the staff with particular emphasis on disclosures about governance. The presentations to the audit committee do not contain information about transactions with interested persons. Transactions with interested persons are presented to the full board. The 990 will be provided to the full board of directors prior to filing.”

“Tsri's conflict of interest policies and procedures apply to members of the board of directors, officers, key personnel, and employees (altogether covered individuals), requiring disclosure of certain financial interests of the covered invidual and their family members in order to protect the interests of tsri when it is contemplating entering into a transaction or arrangement that could: 1) benefit the private interest of a covered individual within the meaning of treasury regulation section 1.501(c)(3)-1(d)(1)(ii), 2) result in a possible excess benefit transaction within the meaning of section 4958(c) of the internal revenue code of 1986, as amended; or 3) be a self-dealing transaction within the meaning of section 5233 of the california corporations code (the "corporations code"). Tsri's policies and procedures are intended to supplement, but not replace, any state and federal laws governing actual, potential, or apparent conflict of interest applicable to tsri. Disclosure documents responsive to tsri's policies are annually submitted by covered individuals, and are reviewed by tsri administration for pertinent relationships. Any transactions or arrangements involving covered individuals that fall within the scope of applicable state and federal laws governing actual, potential, or apparent conflict of interest are then subject to review and consideration by non-conflicted board of director members, with conflicted members being recused from any debate and vote to approve or disapprove.”

“The compensation of the ceo and certain other key executives was reviewed and approved by the board of directors. This review was based, in part, on analysis performed by the human resources department, and included data from outside consultants or internally-conducted research. On an ongoing basis, executives may participate in the normal annual salary increase program, which is based on a recommendation from the human resources department based on market research. Any unusual or potentially non-qualified compensation would be reviewed by outside counsel for any tax compliance issues.”

“Governing documents and conflict of interest policies are not available to the public at this time. The financial statements are provided to bond holders through tsri's dissemination agent. The annual information return is provided upon request.”