On October 7, 2013, each of George W. Hebard III and Richard A. Young informed Enzon Pharmaceuticals Inc. that he will not stand for re-election when his term as a director expires at the company's 2013 annual meeting of stockholders to be held on November 20, 2013. On October 7, 2013, the Board of Directors of the Company appointed, effective as of October 7, 2013, Jonathan Christodoro as a director to the Board. Mr. Christodoro has served as a Managing Director of Icahn Capital LP, since July 2012.

Mr. Christodoro is responsible for identifying, analyzing and monitoring investment opportunities and portfolio companies for Icahn Capital LP. Following Mr. Hebard's and Dr. Young's decision not to stand for re-election at the 2013 Annual Meeting and the appointment of Mr. Christodoro as a director to the Board, the Board has determined that the following persons will stand for election at the 2013 Annual Meeting: Mr. Christodoro, Odysseas Kostas and Jennifer I. McNealey. On October 8, 2013, each of Robert LeBuhn and Robert C. Salisbury, who previously informed the Company that he will not stand for re-election when his term as a director expires at the 2013 Annual Meeting, resigned as a director effective October 8, 2013.