The Board of Directors of Madrigal Pharmaceuticals, Inc. appointed Bill Sibold as the President of the Company, increased the Board size to nine and appointed Bill Sibold as a member of the Board, in each case effective as of 5:01 p.m. ET on September 8, 2023. Mr. Sibold will serve as a Class II director for a term expiring at the 2024 annual meeting of the Company?s stockholders and until his successor has been duly elected and qualified, or until his earlier death, resignation or removal. On the Start Date, Mr. Sibold assumed the duties and responsibilities of the Company?s principal executive officer from Paul Friedman, M.D., age 80, who served as the Chief Executive Officer since July of 2016.

Mr. Sibold, age 56, most recently served as Executive Vice President, Specialty Care of Sanofi and President, Sanofi North America from July 2017 to September 2023. From January 2015 to July 2017, he served as Global Franchise Head, Multiple Sclerosis, Oncology & Immunology, Sanofi Genzyme. Previously, Mr. Sibold served as Chief Commercial Officer of Avanir Pharmaceuticals, President and CEO of Lycera Corp.

and Senior Vice President US Commercial for Biogen. Mr. Sibold has extensive experience in the biomedical and pharmaceutical industry. Mr. Sibold holds a B.A. Degree in Molecular Biophysics and Biochemistry from Yale University and an M.B.A. from Harvard Business School.

As of the Start Date, Dr. Friedman will continue to serve as a director of the Company. In accordance with the terms of Dr. Friedman?s current employment arrangements, in connection with his ceasing to be the Chief Executive Officer (which is treated thereunder as termination without cause) he will receive (i) his annual base salary for 12 months and (ii) 100% of the target bonus to which he would have been entitled for the current year, paid over 12 months.