Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230393
Chunk: 36

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 36
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 of depositary shares will generally have no voting rights. In any matter in which the Series B Preferred Stock may
vote (as expressly provided herein, or as may be required by law), each share of Series B Preferred Stock shall be entitled to one vote. As a result, each depositary share will be entitled to 1/1000th of a vote.

If dividends or other distributions on the Series B Preferred Stock are in arrears, whether or not declared, for six or more quarterly periods, whether or not
these quarterly periods are consecutive, holders of Series B Preferred Stock and holders of all other classes or series of parity preferred stock with which the holders of Series B Preferred Stock are entitled to vote together as a single class,
including our Series A Preferred Stock, and are exercisable, voting together as a single class, will be entitled to vote, at a special meeting called by the holders of record of at least 10% of any series of preferred stock as to which dividends or
other distributions are so in arrears or at the next annual meeting of shareholders, for the election of two additional directors to serve on our Board of Directors until all dividend arrearages have been paid. If and when all accumulated dividends
on the Series B Preferred Stock for all past dividend periods shall have been paid in full, holders of shares of Series B Preferred Stock shall be divested of the voting rights set forth above (subject to
re-vesting in the event of each and every preferred dividend default) and, unless outstanding shares of parity preferred stock remain entitled to vote in the election of preferred stock directors, the term of
office of such preferred stock directors so elected will terminate and the number of directors will be reduced accordingly.

In addition, so long as any
shares of Series B Preferred Stock remain outstanding, we will not, without the consent or the affirmative vote of the holders of at least two-thirds of the outstanding shares of Series B Preferred Stock and
each other class or series of parity preferred stock with which the holders of Series B Preferred Stock

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are entitled to vote together as a single class on such matter, including our Series A Preferred Stock (voting together as a single class):

| • |     | authorize, create or issue, or increase the number of authorized or issued number of shares of, any class or                                                                                                                                          
 series of stock ranking senior to the Series B Preferred Stock with respect to payment of dividends or other distributions or the distribution of assets upon our liquidation, dissolution or winding