Company: ZVRA
Filing Date: 2025-04-21
Form Type: DEFA14A
Source: 0001193125-25-086311
Chunk: 4

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-04-21
Form: DEFA14A
Chunk 4
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 your Board.We believe that adding a former CEO, who presided over a period of significant stockholder value destruction during his tenure at Zevra and cannot be considered independent under SEC and stock exchange rules, as well as a proxy solicitor with no industry experience risks significant disruption to Zevra’s ongoing progress and ability to continue delivering sector-leading returns to stockholders. Further, their appointments would distract from the Company’s continued disciplined execution of its five-year strategic plan and value-creation initiatives. Zevra’s Board recommends that stockholders reject these efforts by Mr. Mangless. Please discard any blue proxy card sent to you by Mr. Mangless.

| 2 | Source: FactSet Research Systems Inc. as of 4/17/25 |

To elect the Zevra Board’s nominees, we encourage you to vote today – no matter how many or how few shares you own –online or by signing and dating the enclosed WHITE proxy card and returning it in the postage-paid envelope provided. As you consider this important election, it is critical to remember that:

| • |     | Your proactive and refreshed Zevra Board and management team have a proven track record of success, as                                                                                                                                        
 demonstrated by the continued progress and significant stockholder value creation during the last two years. Seven of eight directors have joined the Board since 2023, and Zevra’s refreshed management team executed the launch of two rare 
 disease therapies, rapidly expanded the Company’s commercial capabilities and positioned its pipeline for continued success.                                                                                                                  |

| • |     | The ongoing execution of Zevra’s strategy is designed to continue driving value over the coming 
 months and years.                                                                               |

| • |     | Zevra’s Board nominees are proven, experienced public company leaders and directors who have the                                                                                                                                           
 requisite company and industry expertise and fulfill the essential requirements for effective governance of a rapidly growing commercial-stage rare disease company. During their tenure, the Board’s nominees have initiated and overseen 
 substantial improvements to the Company.                                                                                                                                                                                                   |

| • |     | Despite owning just 2.8% of the Company and having already had three nominees elected to the Board in                                                                                                                                      
 2023, Mr. Mangless is now actively seeking two additional Board seats without providing any clear strategy or explanation of what he intends to accomplish or how he proposes to increase stockholder value. If                            
 Mr. Mangless’ two nominees are elected this year, his nominees would have five Board seats in total, representing a majority of the Board. This latest