Company: SCLXW
Filing Date: 2025-12-17
Form Type: 424B3
Source: 0001193125-25-321971
Chunk: 18

Company: Scilex Holding Co
Filing Date: 2025-12-17
Form: 424B3
Chunk 18
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er

So long as any Obligations remain outstanding, the Borrower hereby covenants and agrees that it shall not, without the prior written consent of the Lender (in the cases of Sections 4.3(a)-(e) inclusive only):

create, incur, assume or suffer to exist any Encumbrance whatsoever on the Listco Securities which become Pledged Securities hereunder (except as contemplated hereby);

transfer, sell, exchange, lease, release or abandon or otherwise dispose of any of the Listco Securities which become Pledged Securities hereunder (except as contemplated hereby);

<div align='center'>-11-</div>

enter into a stock loan or similar transaction involving the Listco Securities which become Pledged Securities with any Person other than the Lender;

grant or enter into any agreement which has the effect of granting to any Person (other than the Lender) any option, right, privilege or interest capable of becoming an agreement for the transfer, sale or assignment of any of the Listco Securities which become Pledged Securities hereunder to such Person;

except to an affiliated entity, use, directly or indirectly, any proceeds of the Loan to lend any amounts to third parties for any reason ("Onlending");

use, directly or indirectly, the proceeds of the Loan for any illicit or illegal purposes; or

carry out, in relation to the Listco Securities, any activities which may constitute market misconduct or market manipulation or any action which would constitute an offence under the United States Securities and Exchange Act of 1934, as amended, or any similar offence under any Applicable Law and shall procure that none of its Associates does the same.

#### 4.4
Acknowledgments of the Borrower

The Borrower hereby acknowledges and agrees:

that the Listco Securities (including the Pledged Securities) are fungible;

that none of the Lender, its directors, officers, employees, agents, representatives or any other Person purporting to represent the Lender, approached the Borrower, initiated discussions with the Borrower or in any way solicited the Borrower with regard to the Loan or any of the other transactions contemplated hereby; rather, the Borrower and/or its authorized representatives, acting on it or their own accord, solicited the Lender with regard to the Loan and the other transactions contemplated hereby;

and consents to the collection, retention and disclosure by the Lender or its agents of Personal Information to any applicable Governmental Authority;

that there are risks associated with the Loan which may result in the Borrow