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UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

Case No. 1:24-cv-09715 (DLC) (VF)
IN RE APPLIED THERAPEUTICS

SECURITIES LITIGATION CLASS ACTION

FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE


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This matter came before the Court pursuant to the Order Granting Preliminary Approval
Pursuant to Fed. R. Civ. P. 23(e)(1), Certifying Class for Settlement Purposes, and Approving
Form of Notice and Directing Class Notice to the Class (‘Notice Order”) dated November 20,
2025 (ECF No. 127), and Lead Plaintiffs Motion for Final Approval of Class Action Settlement,
Approval of Plan of Allocation, and an Award of Attorneys’ Fees and Litigation Expenses dated
February 12, 2026 (the “Final Approval Motion,” ECF No. 133), Due and adequate notice having
been given to the Class as required in said Notice Order, and the Court having considered all papers
filed and proceedings had herein and otherwise being fully informed in the premises and good
cause appearing therefore, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that:

1 This Judgment incorporates by reference the definitions in the Amended Stipulation
of Settlement dated November 20, 2025 (the “Stipulation,” ECF No. 126), and all capitalized terms
used herein shall have the same meanings as set forth in the Stipulation, unless otherwise set forth
herein,

2. This Court has jurisdiction over the subject matter of the Litigation and over all
parties to the Litigation, including all Members of the Class.

3, Pursuant to Rule 23 of the Federal Rules of Civil Procedure, the Court hereby
affirms its determination in the Notice Order and finally certifies, for purposes of settlement only,
a Class defined as: all persons and entities who purchased or otherwise acquired the publicly traded
common stock of Applied on a U.S. based exchange between January 3, 2024 and December 2,
2024, inclusive (the “Class Period”). Excluded from the Class are: (i) Defendants; (ii) the current
and former officers, directors, and employees of Applied (the “Excluded Persons”); (ili) any person
or entity that purchased Applied securities in the March 1, 2024 Private Placement (the “Private

Placement Investors”); (iv) members of Defendants’, Excluded Persons’, or Private Placement


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Investors’ immediate families, legal representatives, heirs, successors or assigns; and (v) any entity
in which Defendants, the Excluded Persons, or the Private Placement Investors have or had a
controlling interest.

4, Also excluded from the Class are those Persons identified in Exhibit 1 attached
hereto who would otherwise be a Member of the Class but who have validly and timely excluded
themselves therefrom.

5, The Court finds that: (a) the Members of the Class are so numerous that joinder of
all Class Members in the Class is impracticable; (b) there are questions of law and fact common
to the Class which predominate over any individual question; (c) the claims of Lead Plaintiff are
typical of the claims of the Class; (d) Lead Plaintiff and his counsel have fairly and adequately
represented and protected the Members of the Class; and (e) a class action is superior to other
available methods for the fair and efficient adjudication of the controversy, considering G) the
interests of the Members of the Class individually controlling the prosecution with separate
actions; (ii) the extent and nature of any litigation concerning the controversy already commenced
by Members of the Class; (iii) the desirability or undesirability of concentrating the litigation of
these claims in this particular forum; and (iv) the difficulties likely to be encountered in the
management of the class action,

6. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, the Court hereby
affirms its determination in the Notice Order and, for the purposes of the Settlement only, finally
appoints Lead Plaintiff Dr. Martin Dietrich as Class Representative and Lead Counsel Woif Popper
LLP as Class Counsel.

7. Pursuant to Federal Rule of Civil Procedure 23, the Court hereby fully and finally

approves the Settlement set forth in the Stipulation in all respects (including, without limitation,


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the amount of the Settlement, the Releases provided for therein, and the dismissal with prejudice

of the claims asserted against Defendants in the Litigation) and finds that:

(a)

(b)

(c)

(d)

(c)

(f)

(g)

said Stipulation and the Settlement contained therein, are, in all respects,
fair, reasonable, and adequate and in the best interest of the Class;

Lead Plaintiff and Lead Counsel have adequately represented the Class;

The Settlement was negotiated at arm’s-length with the assistance of an
experienced mediator, and there was no collusion in connection with the
Stipulation;

the Stipulation was the product of informed, arm’s-length negotiations
among competent, able counsel;

the relief provided for the Class is adequate, having taken into account (1)
the costs, risks, and delay of trial and appeal; (ii) the effectiveness of any
proposed method of distributing relief to the Class, including the method
of processing Class Members’ Claims; (iii) the terms of any proposed
award of attorneys’ fees, including the timing of payment; and (iv) any
agreement required to be identified under Federal Rule of Civil Procedure
23(e)(2);

the proposed Plan of Allocation treats Class Members equitably relative to
each other; and

the record is sufficiently developed and complete to have enabled Lead
Plaintiff and Defendants to have adequately evaluated and considered their
positions.

8, Accordingly, the Court authorizes and directs implementation and performance of

all the terms and provisions of the Stipulation, as well as the terms and provisions hereof, Except

as to any individual claim of those Persons (identified in Exhibit 1 attached hereto) who have

validly and timely requested exclusion from the Class, the Court hereby dismisses the Litigation

and all claims asserted therein with prejudice. The Settling Parties are to bear their own costs,

except as and to the extent provided in the Stipulation and herein.

9, Upon the Effective Date, and as provided in the Stipulation, Lead Plaintiff shall,

and each of the Class Members, on behalf of themselves, their successors and assigns, shall be


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deemed to have, and by operation of this Judgment shall have, fully, finally, and forever waived,
released, relinquished, discharged, and dismissed with prejudice all Released Claims (including
Unknown Claims) against the Released Defendant Parties, whether or not such Class Member
executes and delivers the Proof of Claim and Release form or shares in the Net Settlement Fund.
Claims to enforce the terms of the Stipulation or any order of the Court in the Litigation are not
released. Nothing contained herein shall release or bar any Releasing Plaintiff Party or Released
Defendant Parties from bringing any action or claim to enforce the terms of the Stipulation or this
Final Judgment.

10. Upon the Effective Date, and as provided in the Stipulation, all Class Members and
anyone claiming through or on behalf of any of them, will be forever barred and enjoined from
asserting, commencing, instituting, prosecuting, continuing to prosecute or maintaining any action
or other proceeding in any court of law or equity, arbitration tribunal, or administrative forum,
asserting any of the Released Claims against any of the Released Defendant Parties.

11. Upon the Effective Date, as provided in the Stipulation and to the fullest extent
permitted by law, all Persons shall be permanently enjoined, barred, and restrained from bringing,
commencing, prosecuting, or asserting any claims, actions, or causes of action for contribution,
indemnity, or otherwise against any of the Released Defendant Parties seeking as damages or
otherwise the recovery of all or any part of any liability, judgment, or settlement which they pay,
are obligated to pay, agree to pay, or that are paid on their behalf to the Class or any Class Member
arising out of, relating to or concerning any acts, facts, statements, or omissions that were or could
have been alleged in the Litigation, whether arising under state, federal, or foreign law as claims,
cross-claims, counterclaims, third-party claims, or otherwise, in the Court or any federal, state or

foreign court, or in any arbitration proceeding, administrative agency proceeding, tribunal, or any


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other forum. For avoidance of doubt, nothing in the Bar Order shall bar or otherwise affect any
claim for insurance coverage, indemnity, or advancement between Released Defendant Parties.

12. Upon the Effective Date, and as provided in the Stipulation, each of the Released
Defendant Parties shall be deemed to have, and by operation of this Judgment shall have, fully,
finally, and forever released, relinquished, and discharged all Released Defendants’ Claims
(including Unknown Claims) against the Lead Plaintiff, each and all of the Class Members, and
Lead Counsel. Claims to enforce the terms of the Stipulation or any order of the Court in the
Litigation are not released.

13. The Notice Program, including the Postcard Notice of Proposed Settlement of Class
Action (the “Postcard Notice”), Summary Notice of Proposed Settlement of Class Action (the
“Summary Notice”), and Notice of (I) Pendency of Class Action, Certification of Settlement Class,
and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of
Attorneys’ Fees and Reimbursement of Litigation Expenses (the “Longform Notice”) given to the
Class was the best notice practicable under the circumstances, including the individual notice to
all Members of the Class who could be identified through reasonable effort. Said Notices provided
the best notice practicable under the circumstances of those proceedings and of the matters set
forth therein, including the proposed Settlement set forth in the Stipulation, to all Persons entitled
to such notice, and said Notices fully satisfied the requirements of Federal Rule of Civil Procedure
23 and the requirements of due process. No Class Member is relieved from the terms of the
Settlement, including the releases provided for therein, based upon the contention or proof that
such Class Member failed to receive actual or adequate notice. A full opportunity has been offered
to the Class Members to object to the proposed Settlement and to participate in the hearing thereon,

and no objections to the Settlement, the Final Approval Motion, the Plan of Allocation, or the Fee


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and Expense Application were filed by Class Members. The Court further finds that the notice
provisions of the Class Action Fairness Act, 28 U.S.C. §1715, were fully discharged and that the
statutory waiting period has elapsed. Thus, the Court hereby determines that all Members of the
Class are bound by this Judgment.

14. Notice of Lead Counsel’s Fee and Expense Application was directed to Class
Members through the Notice Program in a reasonable manner and complies with Rule 23(h)(1) of
the Federal Rules of Civil Procedure, due process, and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995, 15 U.S.C. § 78u-4(a)(7),
constituted the best notice practicable under the circumstances, and constituted due and sufficient
notice to all persons and entities entitled thereto.

15. Pursuant to and in full compliance with Rule 23 of the Federal Rules of Civil
Procedure, this Court hereby finds and concludes that due and adequate notice was directed
through the Notice Program to all persons who are Class Members who could be identified with
reasonable effort, advising them of the Plan of Allocation and of their right to object thereto, and
a full and fair opportunity was accorded to all persons and entities who are Class Members to be
heard with respect to the Plan of Allocation.

16. Neither this Judgment, the Stipulation nor the Settlement contained therein, nor any
act performed or document executed pursuant to or in furtherance of the Stipulation or the
Settlement: (a) is, or may be deemed to be, or may be used as an admission of, or evidence of, the
validity of any Released Claim, or of any wrongdoing or liability of the Released Defendant Parties
or their respective Related Parties, or (b) is, or may be deemed to be, or may be used as an
admission of, or evidence of, any fault or omission of any of the Released Defendant Parties or

their respective Related Parties in any civil, criminal, or administrative proceeding in any court,


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administrative agency, or other tribunal. The Released Defendant Parties and/or their respective
Related Parties may file the Stipulation and/or this Judgment from this Litigation in any other
action that may be brought against them in order to support a defense or counterclaim based on
principles of res judicata, collateral estoppel, release, good faith settlement, judgment bar or
reduction, or any theory of claim preclusion or issue preclusion or similar defense or counterclaim.

17. The Court finds that Defendants have satisfied their financial obligations under the
Stipulation by paying or causing to be paid to the Settlement Fund (1) $15,000,000 in cash, in
accordance with 4 2.6 of the Stipulation; and (2) $17,000 in cash Warrant Proceeds in lieu of the
Warrants, in accordance with § 2.8 of the Stipulation, representing the Black Scholes Value (as
that term is defined in Section 3(d) of the Warrants, see ECF No. 126, Ex. C, and the calculation
of such Black Scholes Value being agreed upon by the Settling Parties) as a result of the
Fundamental Transaction (as that term is defined in Section 3(d) of the Warrants, see ECF No.
126, Ex. C) that occurred after the Stipulation was executed.

18. Lead Counsel and any person acting at the direction of Lead Counsel shall have no
liability for any action taken in connection with the Warrants or the Black Scholes Value payment
except for willful misconduct.

19. Without affecting the finality of this Judgment in any way, this Court hereby retains
continuing jurisdiction over: (a) implementation of this Settlement and any award or distribution
of the Settlement Fund, including interest earned thereon; (b) disposition of the Settlement Fund;
(c) hearing and determining applications for attorneys’ fees, expenses, and interest in the
Litigation; and (d) all parties herein for the purpose of construing, enforcing, and administering

the Stipulation.


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20. The Court finds and concludes that during the course of the Litigation, the Settling
Parties and their respective counsel at all times complied with the requirements of Federal Rule of
Civil Procedure 11 in connection with the institution, prosecution, defense, and settlement of the
Litigation.

21. The terms of the Stipulation and of this Judgment shall be forever binding on
Defendants, Lead Plaintiff, and all other Class Members (regardless of whether or not any
individual Class Member submits a Proof of Claim and Release form or seeks or obtains a
distribution from the Net Settlement Fund), as well as their respective successors and assigns.

22. In the event that the Settlement does not become effective in accordance with the
terms of the Stipulation, or the Effective Date does not occur, or in the event that the Settlement
Fund, or any portion thereof, is returned to the Defendants or their insurers, then this Judgment
shall be rendered null and void to the extent provided by and in accordance with the Stipulation
and shall be vacated and, in such event, all orders entered and releases delivered in connection
herewith shall be null and void to the extent provided by and in accordance with the Stipulation,
and the Settling Parties shall revert to their respective positions in the Litigation as of August 19,
2025, as provided in the Stipulation.

23. Without further order of the Court, the Settling Parties may agree to reasonable
extensions of time to carry out any of the provisions of the Stipulation. The Settling Parties are
hereby authorized to agree to and adopt such amendments or modifications of the Stipulation or
any exhibits attached thereto to effectuate the Settlement that: (a) are not materially inconsistent
with this Judgment; and (b) do not materially limit the rights of Class Members in connection with

the Settlement.


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24. This Litigation and all Released Claims are dismissed with prejudice. The parties
are to bear their own costs, except as otherwise agreed to in writing by the Settling Parties or as
otherwise provided in the Stipulation or Judgment.

25. The Court hereby grants Lead Counsel’s Fee and Expense Application and awards
Lead Counsel a Fee and Expense Award of attorneys’ fees of 20% of the Settlement Fund, or
$3 million plus 20% of the Warrant Proceeds received by the Settlement Fund, plus expenses in
the amount of $42,313.15, together with the interest earned on both amounts for the same period
and at the same rate as that earned on the Settlement Fund until paid. The Court finds that the
amount of fees awatded is fair, reasonable, and appropriate under the “percentage-of-recovery”
method.

26. The awarded attorneys’ fees and expenses and interest earned thereon, shall be paid
to Lead Counsel immediately upon execution of this Final Judgment and Order of Dismissal with
Prejudice and subject to the terms, conditions, and obligations of the Stipulation, and in particular,
{ 8.2 thereof, which terms, conditions, and obligations are incorporated herein.

27. In making this award of fees and expenses to Lead Counsel, the Court has
considered and found that:

(a) the Settlement has created a fund consisting of $15,000,000 in cash and $17,000 in
cash Warrant Proceeds, and numerous Class Members who submit, or have submitted, valid Proof
of Claim and Release forms will benefit from the Settlement created by Lead Counsel;

(b) at least 60,382 copies of the Postcard Notice were disseminated to potential Class
Members indicating that Lead Counsel would move for attorneys’ fees in an amount not to exceed
20% of the Settlement Amount and for expenses in an amount not to exceed $50,000, plus interest

on both amounts, and no objections to the fees or expenses were filed by Class Members;


(c)
advocacy;
(d)
(e)
(f)

28.

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Lead Counsel pursued the Litigation and achieved the Settlement with diligent

Lead Counsel pursued the Litigation entirely on a contingent basis;

public policy concerns favor the award of reasonable attorneys’ fees; and

the attorney’s fees and expenses awarded are fair and reasonable.

The Court finds and concludes that the Plan of Allocation for the calculation of the

claims of Authorized Claimants which is set forth in the Notice provides a fair and reasonable
basis upon which to allocate the proceeds of the Net Settlement Fund among Authorized
Claimants, with due consideration having been given to administrative convenience and necessity.

29, This Court finds and concludes that the Plan of Allocation, as set forth in the Notice,

is, in all respects, fair and reasonable and the Court approves the Plan of Allocation.

The Court directs immediate entry of this Judgment by the Clerk of Court.

j tag. (MN,

The Honorabld Denise Cote
United States District Judge

30.
IT IS SO ORDERED.

DATED: Mecd4, Aca

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Exhibit 1

Persons Who Validly and Timely Excluded Themselves from the Class

City, State, Country

Name

New York, NY, USA

Raymond M. Coggins