Scage Future

Nanjing, China – October 06, 2026 -- Scage Future (Nasdaq: SCAG) will change its American Depositary Share ratio from one ADS per one ordinary share to one ADS per fifteen ordinary shares, effective on or about October 30, 2026.

Reverse ADS split consolidates holdings fifteen-to-one

The ratio change will function as a one-for-fifteen reverse ADS split for existing holders. On the effective date, Citibank, N.A., the depositary bank, will automatically cancel existing ADSs and issue one new ADS for every fifteen previously held, with no action required from shareholders.

Fractional entitlements will be sold for cash

No fractional new ADSs will be issued. The depositary bank will aggregate and sell fractional entitlements, distributing net cash proceeds, after fees, taxes and expenses, to the affected ADS holders.

Nanjing – September 07, 2026 -- Scage Future (Nasdaq: SCAG) has fallen below two separate Nasdaq minimum listing thresholds, receiving deficiency notices tied to both its total market value of listed securities and its market value of publicly held shares.

Nasdaq flags dual shortfalls in 30-day trading review

The Listing Qualifications Department of The Nasdaq Stock Market sent two notification letters dated August 27, 2026. Based on the 30 consecutive business days from July 16 to August 26, 2026, Scage's Market Value of Listed Securities (MVLS) fell short of the required US$50,000,000 minimum under Rule 5450(b)(2)(A). Nasdaq also noted the company fails the alternative Total Assets and Total Revenue standard under Rule 5450(b)(3)(A). A second letter cited the company's Market Value of Publicly Held Shares (MVPHS) falling below the required US$15,000,000 minimum under Rule 5450(b)(2&3)(C) over the same period.