ACACIA RESEARCH CORP

Share Repurchase Program

On November 9, 2023, Acacia’s Board of Directors approved a stock repurchase program (the “Repurchase Program”) for up to $20.0 million, subject to a cap of 5,800,000 shares of Acacia common stock. As of November 7, 2024, the Company has repurchased 3,007,294 common shares for $14.0 million as part of the Company’s overall long-term strategy to deploy excess cash and increase total shareholder returns over time. The Company intends to continue to opportunistically complete share repurchases in the open market during the fourth quarter of 2024 and into 2025, subject to operating needs, market conditions, legal requirements, stock price and other considerations. The Repurchase Program has no time limit and does not require the repurchase of a minimum number of shares. The common stock may be repurchased on the open market, in block trades, or in privately negotiated transactions, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Exchange Act. Refer to Note 14 to the consolidated financial statements in the Company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2024 for additional information.