MUSTANG BIO INC

We have submitted a joint voluntary notice to the U.S. Committee on Foreign Investment in the United States (“CFIUS”) in connection with the sale of manufacturing facility and associated assets to a third party. Such transaction is currently under review by CFIUS. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Recent Developments” for additional information.

Except as set forth above, we are not involved in any legal proceedings that we believe could have a material adverse effect on our financial position or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of our executive officers, threatened against or affecting our company or our officers or directors in their capacities as such.