Mesoblast Board of Directors Appoints New Leadership

Mesoblast Navigates Transition to Commercialization with Key Board Leadership Changes

**NEW YORK – January 1, 2026** – Mesoblast Limited (Nasdaq: MESO; ASX: MSB), a pioneer in allogeneic cellular medicines, today announced significant shifts in its Board of Directors, signaling a strategic pivot towards revenue generation and commercialization. These leadership adjustments, effective immediately, are designed to bolster the company’s operational capacity as it moves past its critical development phases and into a new era of market engagement.

Jane Bell, who has guided the board through the company’s most transformative period, including securing its first U.S. Food and Drug Administration (FDA) approval and launching its initial commercial product, will step down as Chair. Bell will continue to contribute her expertise as a non-executive director. Philip Facchina has been unanimously appointed as the new non-executive Chair. Furthermore, Lyn Cobley is set to lead the Audit and Risk Committee, while William Burns will maintain his positions as Vice-Chair and Chair of the Nomination and Remuneration Committee.

The Board emphasized that these changes follow a comprehensive review of its composition and are aligned with Mesoblast’s strategic objective to enhance its U.S. commercial capabilities over the next twelve months. This focus on strengthening U.S. commercial expertise is critical for maximizing market penetration and driving shareholder value.

Facchina, who joined the Mesoblast board in March 2021, brings over four decades of experience in corporate strategy, finance, and business development across diverse sectors, with a significant focus on healthcare. His extensive background is expected to be instrumental as Mesoblast scales its commercial operations. Cobley, a recent addition to the board in April 2025, offers a wealth of experience in corporate finance and governance, having held leadership roles within major global institutions. Her expertise in strategy and navigating highly regulated industries will be vital for the oversight of the company’s financial health and risk management.

“The Board is deeply grateful for Ms. Bell’s dedicated service as Chair during Mesoblast’s crucial transition from development to commercialization,” stated incoming Chair Philip Facchina. “Her leadership has been invaluable, and we are pleased she will continue to provide her insights as a director.”

Bell expressed her confidence in the new leadership, stating, “These changes reflect our commitment to maintaining a high-performing, engaged Board equipped with the right blend of expertise and fresh perspectives. I look forward to supporting Phil and Lyn as we continue to execute our long-term strategy for the benefit of our shareholders and stakeholders.”

This evolution of the board’s leadership structure is a clear indicator of Mesoblast’s strategic intent to capitalize on its approved therapies and pipeline assets. The company’s flagship product, Ryoncil® (remestemcel-L-rknd), for the treatment of steroid-refractory acute graft versus host disease in pediatric patients, represents a significant commercial opportunity. Mesoblast is also advancing other cell therapies in its pipeline, including rexlemestrocel-L for heart failure and chronic low back pain, underscoring the breadth of its therapeutic focus.

The company’s robust intellectual property portfolio, with patents extending through at least 2044, and its scalable, industrial-grade manufacturing processes for its allogeneic cellular medicines position it favorably for global commercialization. Mesoblast’s commitment to innovation, coupled with these strategic leadership enhancements, suggests a focused approach to delivering on the promise of its advanced cellular therapies. The planned expansion of its U.S. commercial team is a key initiative to ensure successful market access and adoption of its treatments.

**About Mesoblast**
Mesoblast is a global leader in the development of allogeneic (off-the-shelf) cellular medicines designed to treat severe and life-threatening inflammatory conditions. Leveraging its proprietary mesenchymal lineage cell therapy technology platform, Mesoblast’s therapies aim to reduce inflammatory processes by releasing anti-inflammatory factors that modulate the immune system. Ryoncil® (remestemcel-L-rknd) is Mesoblast’s first FDA-approved therapy for pediatric patients with steroid-refractory acute graft versus host disease. The company is also developing other cell therapies for various indications, including heart failure and inflammatory bowel disease, and has established commercial partnerships in key international markets. Mesoblast is listed on the Australian Securities Exchange (MSB) and Nasdaq (MESO).