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NEW YORK--(BUSINESS WIRE)--WaterMill Asset Management Corp. (together with its affiliates, WaterMill or we), which collectively with the other participants in its consent solicitation beneficially owns approximately 3.3% of the outstanding shares of Ziopharm Oncology, Inc. (NASDAQ: ZIOP) (Ziopharm or the Company), today released a 55-page presentation that details the case for urgent change in the boardroom and summarizes its director candidates value-enhancing vision. As a reminder, WaterMill is seeking to reconstitute Ziopharms eight-member Board of Directors (the Board) by removing four incumbent directors and electing three highly-qualified and independent individuals: Robert Postma, Jaime Vieser and Holger Weis. WaterMill encourages shareholders to consent to all of its proposals on the WHITE consent card. We urge shareholders to sign, date, and return each WHITE consent card they receive. Please visit www.FixZiopharm.com to download the slates presentation and learn how to consent. Robert Postma, Principal and Founder of WaterMill, commented: As we continue to pursue meaningful change atop Ziopharm, we want shareholders to have a candid and comprehensive evaluation of the Companys corporate governance, capital allocation decisions, financial positioning, and pipeline progress. Our 55-page presentation includes an array of irrefutable data points and facts pertaining to the incumbent Boards anti-shareholder attitude, highly-concerning interconnectivity, and record of presiding over hundreds of millions of dollars in value destruction. Our presentation also underscores a sobering reality: Ziopharms diminishing cash position and rising burn rate appears to have put the Company on a path to financial ruin. Fortunately, we believe our three-member slate has the business acumen, capital allocation expertise, financing relationships, and commercial creativity required to stave off disaster and spark an enduring turnaround. We are prepared to act with urgency to help ensure Ziopharm has the right financing options, the right capital allocation framework, and the right commercialization opportunities to advance its science and finally deliver value for its shareholders. The presentation prepared by the WaterMill slate includes specific detail pertaining to the case for change at Ziopharm. In our view, our slate shows how the incumbent Board: Our slates presentation also outlines a strategic vision for helping turn around Ziopharm. If elected to the Board, our director candidates plan to suggest that a Special Committee be formed to conduct a strategic review of the business. The ideal components of this review would include (but are not limited to): *** We urge Ziopharm shareholders to consent to all five proposals on the WHITE consent card today by signing, dating and returning it in the postage-paid envelope provided. Please vote each and every WHITE consent card you receive since you may own multiple accounts. If you have already voted a Green revocation card from Ziopharm, a later-dated vote on the WHITE consent card will revoke that vote. December 11, 2020 is our goal for the submission of written consents. Effectively, this means that you have until December 11, 2020 to consent to the proposals. You may only consent by voting the WHITE consent card. Please throw away all Green revocation cards you receive.

Answer: WaterMill Asset Management Releases Presentation Detailing the Case for Urgent Change Atop Ziopharm Oncology Highlights the Incumbent Boards Anti-Shareholder Practices, Concerning Interconnectivity, and Record of Presiding Over Negative Returns Across Every Relevant Time Horizon Makes Clear That Ziopharm is on a Path to Financial Ruin as its Capital Position Shrinks, G&A and R&D Costs Rise, and Value-Generating Pipeline Progress Remains Evasive Reminds Shareholders That the WaterMill Slate has the Business Acumen, Financial Expertise and Relationships, and Commercial Intensity Required to Help Engineer a Turnaround Urges Shareholders to Vote on the WHITE Consent Card to Reconstitute the Board with WaterMills Three Aligned, Independent and Qualified Director Candidates