Company: SCLXW
Filing Date: 2025-05-16
Form Type: DEF 14A
Source: 0000950170-25-073612
Chunk: 39

Company: Scilex Holding Co
Filing Date: 2025-05-16
Form: DEF 14A
Chunk 39
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 such letter to us stating that it disagrees with certain of the statements made by us (the “Ernst & Young Letter”), a copy of which was filed as an exhibit to our Current Report on Form 8-K/A filed with the SEC on November 22, 2024 (the “Form 8-K/A”).

As set forth below and described in the Form 8-K/A, we disagree with certain of the statements made by Ernst & Young in the Ernst & Young Letter.

First, in the fourth bullet point of the Ernst & Young Letter, Ernst & Young states that “The Executive Chairman asserted a view that the Audit Committee should terminate or suspend the independent investigation and/or terminate Ernst & Young.” The Company disagrees with this statement, as the Executive Chairman discussed Ernst & Young, among other things, the timing of Ernst & Young’s completion of its review of the Q3 Financials, the potential scenarios surrounding a possible transition to a new accounting firm if determined to do so by the Audit Committee due to the timing issues for Ernst & Young to complete its review of the Q3 Financials, and what level of support the Company might expect to receive from Ernst & Young during a transition to a new accounting firm.

Second, in the sixth bullet point of the Ernst & Young Letter, Ernst & Young states that “Subsequently, on November 19, Ernst & Young learned that the person who had been Chair of the Audit Committee was no longer on the Audit Committee, and the remaining members of the Audit Committee had decided to dismiss Ernst & Young as the Company’s auditor.” The Company believes that such statement suggests, incorrectly, that the Audit Committee had been reconstituted prior to a vote regarding Ernst & Young’s dismissal. As noted above, in the fifth paragraph of this section titled “Change in Auditor”, the members of the Audit Committee voted to dismiss Ernst & Young, and was comprised of the same members of the Audit Committee for the entirety of the investigation as of such date.

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Fees Paid to the Independent Registered Public Accounting Firm The following table presents fees for professional audit services and other services rendered by Ernst & Young LLP and BPM LLP to our Company for our fiscal years ended December 31, 2024 and December 31, 2023 (in thousands).

|                    |                      2024 |                      2023 |
| Audit Fees         | $            4,677,619(1) | $            2,427,996(2) |
| Audit