DOMA PERPETUAL CAPITAL MANAGEMENT QUESTIONS WHY SHAREHOLDERS SHOULD VOTE TO CONTINUE WITH A BOARD THAT HAS OVERSEEN A DECADE OF VALUE DESTRUCTION

About this update from Pacira Biosciences, Inc.

PACIRA'S STOCK PRICE IS DOWN FOR EVERY RECENT PERIOD: 10 YEAR, 5 YEAR, 3 YEAR, 2 YEAR, ONE YEAR, AND YEAR-TO-DATE DOMA BELIEVES MANAGEMENT IS MISLEADING STAKEHOLDERS REGARDING ITS PATENT PROTECTION AND MINIMIZING THE POTENTIAL BUSINESS-DESTROYING CONSEQUENCES OF ANOTHER LEGAL LOSS, CONSTITUTING GROSS NEGLIGENCE DOMA CONTENDS THE BOARD IS REFUSING TO EXPLORE A SALE BECAUSE DIRECTORS DO NOT WANT TO LOSE THEIR JOBS, PUTTING THEIR INTERESTS AHEAD OF SHAREHOLDERS MIAMI, May 28, 2026 /PRNewswire/ -- DOMA Perpetual Capital Management ("DOMA Perpetual") is a fundamentals-based, value-oriented asset management firm, which, together with its affiliates (collectively, "DOMA" or "we"), beneficially owns approximately 7.5% of the outstanding shares of common stock of Pacira BioSciences, Inc. (NASDAQ: PCRX) ("Pacira" or the "Company"). While the Company has repeatedly highlighted the strength of its patent portfolio and related protections, the market's response is a clear indication that investors remain unconvinced. This disconnect is further reflected in the Company's share price, which has declined across virtually every meaningful historical measurement period. Over this same period, Management and the Board have compensated themselves generously, removing performance-based guardrails for compensation in favor of payouts with less correlation to business results or value creation. We believe the Company continues to mislead investors regarding the threat posed by generics, mischaracterizing the Fresenius Kabi settlement as a wholly positive development for stakeholders and misrepresenting the actual protections offered by current patents. In our view, Management was unprepared for its first patent defeat in the lower court, as reflected in Pacira's Q2 2024 earnings call, when the Company's Chief Legal and Compliance Officer, Anthony Molloy III, stated: "[the '495 patent] is only the first patent being litigated. Three additional infringement lawsuits are underway for our 348, 574, 575 and 706 patents, and these patents are broader than the '495 patent. We also have other patents that are forthcoming, many of which will be listed in the Orange Books with expiration dates through January 2041. In order to become commercially successful, eVenus would have to overcome all of our patents...

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