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Regarding Press Release from RepliCel Life Sciences Inc.

2021/10/19

October 18, 2021 (Same day Canadian time), RepliCel Life Sciences Inc. (“RepliCel”), a Canadian bio-venture company, has announced that they filed for international arbitration against Shiseido Company, Ltd (the “Company”) regarding the Company’s termination of the Collaboration and Technology Transfer Agreement regarding hair cell technology in 2016.

It is the Company’s policy to refrain from comments at this stage, except to say that the Company believes the allegations made by RepliCel lack merit and it will vigorously defend the action.

In the event that any matters requiring disclosure arise in the future, the Company will promptly announce such matters.