Frequently Asked Questions

1. Why did I receive a notice?

The Court authorized the Long-Form Notice to be disseminated because you or someone in your family has been identified as a potential Settlement Class Member who may have purchased or acquired shares of Twist common stock during the Class Period. The Court directed that the Long-Form Notice be made available to Settlement Class Members to explain the Litigation, Settlement Class Members' legal rights, what benefits are available, who is eligible for them, and how to get them. The issuance of the Notice is not an expression of any opinion by the Court concerning the merits of any claim in the Litigation, and the Court still has to decide whether to approve the Settlement.

Receipt of the Long-Form Notice does not mean that you are a Member of the Settlement Class or that you will be entitled to receive a payment. Neither the Parties nor the Court have made any such determination, and do not have access to your individual investment information. If you wish to be eligible for a payment, you are required to timely submit the Proof of Claim, available here.

The Court in charge of the case is the United States District Court for the Northern District of California, San Jose Division, and the case is known as Peters v. Twist Bioscience Corp., et al., Case No. 5:22-cv-08168-EKL (N.D. Cal.). The entity that sued, the Policemen's Annuity and Benefit Fund of Chicago, is called the Plaintiff. Twist Bioscience Corporation and the individuals that the Plaintiff sued, Emily M. Leproust and James M. Thorburn, are called the Defendants.

2. What is this lawsuit about?

This case alleges violations of §§11 and 15 of the Securities Act of 1933 (the "Securities Act") and §§10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") on behalf of a class consisting of all Persons and entities who purchased or otherwise acquired Twist common stock (i) in the December 2020 Offering pursuant to the 2020 Registration Statement, and were damaged thereby; and/or (ii) between December 20, 2018 and November 15, 2022, both inclusive, and were damaged thereby. Among other things, this case alleges violations of the Securities Act and the Exchange Act premised on alleged false and misleading statements concerning Twist's production process, product quality, and accounting. Plaintiff contends that these allegedly false and misleading statements caused substantial damages to the Settlement Class. The Parties disagree on liability and damages.

Defendants have expressly denied and continue to deny any wrongdoing or liability against them arising out of any statements or omissions alleged, or that could have been alleged, in the Litigation.

3. What has happened so far in this case?

The Litigation is currently pending in the United States District Court for the Northern District of California, San Jose Division, before Judge Eumi K. Lee (the "Court"). The initial complaint in this Litigation was filed on December 12, 2022 (the "Complaint") (ECF No. 1). On July 28, 2023, the Court appointed the Policemen's Annuity and Benefit Fund of Chicago as Lead Plaintiff and Bleichmar Fonti & Auld LLP as Lead Counsel (ECF No. 70).

Lead Plaintiff, Policemen’s Annuity and Benefit Fund of Chicago, filed the operative Amended Complaint (the "Amended Complaint") on October 11, 2023 (ECF No. 83). The Amended Complaint alleged violations of §§11 and 15 of the Securities Act, and §§10(b) and 20(a) of the Exchange Act. Defendants filed a motion to dismiss the Amended Complaint on December 6, 2023 (ECF No. 86). On September 3, 2025, after extensive briefing and oral argument, the Court granted in part and denied in part Defendants' motion to dismiss, allowing claims under §§11 and 15 of the Securities Act and §§10(b), and 20(a) of the Exchange Act to proceed against certain Defendants arising from certain alleged misstatements (ECF No. 117). Defendants filed their answer on October 21, 2025, which denied all claims alleged in the Amended Complaint and asserted multiple defenses thereto (ECF No. 122).

Since then, the parties have vigorously litigated this Litigation. Plaintiff secured documents from Defendants and numerous third parties, including Twist's former employees and Twist's auditors, resulting in substantial productions totaling more than 207,000 pages of documents. The Parties also completed depositions of three former employee witnesses and were preparing to complete the depositions of additional witnesses when they agreed to settle the Litigation.

On March 13, 2026, Plaintiff filed a motion seeking class certification, with an accompanying expert report (ECF No. 152-7). The Parties were preparing to complete related depositions when they agreed to settle the Litigation.

The Parties engaged in a confidential full-day mediation before mediator Robert A. Meyer of JAMS on March 31, 2026. Prior to that confidential mediation, the Parties exchanged mediation statements with exhibits. Despite good faith efforts to resolve the Litigation during the mediation, the Parties were unable to reach agreement. At the conclusion of the March 31, 2026 mediation, Mediator Meyer made a formal mediator's proposal that the case settle for $17.05 million. The Parties accepted the proposal that day, executed a settlement term sheet, and negotiated the Stipulation of Settlement.

4. Why is this a class action?

In a class action, a class representative (in this case, the Court-appointed Lead Plaintiff Policemen's Annuity and Benefit Fund of Chicago) sues on behalf of people who have similar claims. Here, all these people are called the Settlement Class or Settlement Class Members. One court resolves the issues for all class members at the same time, except for those who timely and validly exclude themselves from the class (the process for which is described more fully in Question 14 below). Judge Eumi K. Lee is presiding over this class action.

5. Why is there a settlement?

The Court did not decide in favor of Plaintiff or Defendants. Instead, both sides agreed to a settlement. That way they avoid the cost and uncertainty of further litigation and a trial, and eligible Settlement Class Members who submit valid claims will receive compensation. Particularly in light of the possibility that continued litigation could result in no greater recovery than the Settlement, or no recovery at all, Plaintiff and Plaintiff's Counsel believe the settlement is in the best interest of all Settlement Class Members.

6. How do I know if I am part of the Settlement?

To see if you will receive money from this Settlement, you first have to determine if you are a Settlement Class Member.

The Settlement Class consists of all Persons who purchased or otherwise acquired Twist common stock (a) in the December 2020 Offering pursuant to the 2020 Registration Statement and were damaged thereby; and/or (b) during the Class Period of December 20, 2018, through November 15, 2022, both inclusive, and were damaged thereby. Certain Persons and entities are excluded from this definition, as described in Question 7 below.

7. What are the exceptions to being included in the Settlement?

Excluded from the Settlement Class are:

1. Defendants and any affiliates or subsidiaries thereof.
2. Present and former officers and directors of Twist and their immediate family members (as defined in Item 404 of SEC Regulation S-K, 17 C.F.R. 229.404, Instructions (1)(a)(iii) and (1)(b)(ii)).
3. Defendants' liability insurance carriers, and any affiliates or subsidiaries thereof.
4. Any entity in which any Defendant had or has had a controlling interest.
5. Twist's employee retirement and benefit plan(s).
6. The legal representatives, heirs, estates, agents, successors, or assigns of any person or entity described in the preceding five categories.

Also excluded from the Settlement Class are those Persons who timely and validly request exclusion from the Settlement Class pursuant to the requirements set by the Court, which are set forth in Question 14.

8. What if I'm still not sure if I am included?

If you are still not sure whether you are included, you can ask for free help. You can contact the Claims Administrator at info@TwistSecuritiesSettlement.com or by phone at (833) 386-6546, or you can fill out and return the Proof of Claim as described in Question 11, to see if you qualify.

Please do not call the court, Defendants, or Defendants' counsel with questions about the Settlement.

9. What does the Settlement provide?

Defendants have agreed to settle the litigation for a total of $17,050,000.00 in cash. This amount, plus any interest earned thereon, constitutes the Settlement Fund. The balance of this fund after payment of (i) Court-approved attorneys' fees and expenses, (ii) any award to Plaintiff, (iii) the costs of claims administration, including the costs of distributing the Notice and the cost of publishing notice, and (iv) Taxes and Tax Expenses, is the "Net Settlement Fund." The Net Settlement Fund will be divided among all eligible Settlement Class Members who send in timely and valid Proofs of Claim in accordance with the Plan of Allocation.

10. How much will my payment be?

Your payment (if any) will depend on several things, including: the total dollar amount of claims represented by the valid Proofs of Claim that Settlement Class Members submit; the number of shares of Twist common stock you purchased or acquired; how much you paid for those shares; when you purchased or acquired them; and if and when you sold your shares of Twist common stock and for how much.

The Claims Administrator will apply the Plan of Allocation to calculate the amount of your Recognized Claim, and your payment (if any) will be a portion of the Net Settlement Fund equal to your Recognized Claim divided by the total of all Authorized Claimants' Recognized Claims.

11. How will I obtain a payment?

To qualify for payment, you must be an eligible Settlement Class Member, send in a timely and valid Proof of Claim, and properly document your claim as requested in the Proof of Claim.

A Proof of Claim may be completed and submitted online here. It is also available in paper form by downloading a copy here, or contacting the Claims Administrator to request a copy at info@TwistSecuritiesSettlement.com, by phone at (833) 386-6546, or by writing to Twist Securities Settlement, c/o Claims Administrator, P.O. Box 25199, Santa Ana, CA 92799. Read the instructions carefully, fill out the form, include all the documents the form asks for, and sign it.

Proofs of Claim must be submitted online or postmarked no later than November 17, 2026.

12. When will I receive my payment?

The Court will hold a hearing on November 18, 2026, at 10:00 a.m., to decide whether to approve the Settlement. If the Court approves the Settlement, there may be appeals. It is always uncertain whether these appeals can be resolved and resolving them can take time. It also takes time for all the Proofs of Claim to be processed. Please be patient.

13. What am I giving up to receive a payment or stay in the Settlement Class?

Unless you timely and validly exclude yourself, you are a Settlement Class Member, and that means that you cannot sue, continue to sue, or be part of any other lawsuit against the Defendants or any of their Related Parties about the Released Claims. In short, you will be barred from suing the Defendants for any of the conduct alleged in this case. It also means that all of the Court's orders, including a judgment ("Judgment") dismissing the Litigation with prejudice on the merits, will apply to you and legally bind you and you will release all Released Claims in this case against the Defendants and their Related Parties. Details of these claims and their definitions can be found in the Long-Form Notice.

The Judgment will also provide that upon the Effective Date, without any further action by anyone, Plaintiff and each of the Settlement Class Members, on behalf of themselves, and their respective heirs, executors, administrators, predecessors, successors, and assigns in their capacities as such, and on behalf of any other person or entity legally entitled to bring Released Claims on behalf of any Settlement Class Member, shall be deemed to have, and by operation of the Judgment shall have, fully, finally, and forever released, relinquished, compromised, settled, resolved, waived, discharged, and dismissed on the merits with prejudice all Released Claims (including, without limitation, Unknown Claims) against Defendants and their Related Parties, whether or not such Settlement Class Member executes and delivers a Proof of Claim or participates in the Settlement Fund. Plaintiff and each of the Settlement Class Members will be aware of California Civil Code § 1542 and will expressly waive and relinquish any rights or benefits available to them under this statute and any law of any state or territory of the United States, or principle of common law, which is similar, comparable, or equivalent to California Civil Code § 1542. These releases and waivers were separately bargained for and are essential elements of the Stipulation and the Settlement.

Moreover, upon the Effective Date, Plaintiff, all Settlement Class Members, and anyone claiming through or on behalf of any of them, will be forever barred and enjoined from commencing, instituting, intervening in, prosecuting, or continuing to prosecute any action or proceeding in any court of law or equity, arbitration tribunal, administrative forum, or other forum of any kind, asserting any of the Released Claims against any of the Defendants and their Related Parties, and each of them.

14. How do I get out of the Settlement Class?

If you do not want to participate in this Settlement, and you want to keep the right to sue or continue to sue the Defendants or any of their Related Parties on your own for the Released Claims in this case, then you must take steps to get out of the Settlement Class. This is called excluding yourself or is sometimes referred to as opting out of the Settlement Class.

If you are requesting exclusion because you want to bring your own lawsuit based on the matters alleged in this Litigation, you may want to consult an attorney and discuss whether any individual claim that you may wish to pursue would be time-barred by the applicable statutes of limitation or repose. If you are excluded from the Settlement Class and pursue your own individual action, you may also have to produce information and/or documents upon the Defendants' request (a process known as "discovery"), which could include, but not be limited to, providing testimony under oath.

To exclude yourself from the Settlement Class, you must submit a written request for exclusion to the Claims Administrator online here or by mail to the following address:

Twist Securities Settlement
c/o Claims Administrator
P.O. Box 25199
Santa Ana, CA 92799

You cannot exclude yourself by telephone or email. Your request for exclusion must state that you want to be excluded from Peters v. Twist Bioscience Corp., et al., Case No. 5:22-cv-08168-EKL (N.D. Cal.), and must: (i) include the name, address, and telephone number for you or the entity seeking exclusion; (ii) state that you or the entity wish to be "excluded from the Settlement Class" in this Litigation; (iii) include proof (such as stockbroker confirmation slips, stockbroker statements, or other documents) adequately evidencing the date(s), price(s), and number(s) of all shares of Twist common stock purchased and/or sold during the Class Period; and (iv) be signed by you or the entity requesting exclusion or their authorized representative (accompanied by proof of authorization). No request for exclusion will be considered valid unless it is timely and provides all of the information described above.

Your exclusion request must be received by the Claims Administrator no later than October 7, 2026.

Do not submit a request for exclusion as well as an objection and/or Proof of Claim. If you do so, your objection and/or Proof of Claim will be disregarded, and you will be excluded from the Settlement Class.

15. If I do not exclude myself, can I sue the Defendants for the same thing later?

No. Unless you timely and validly exclude yourself, you give up any right to sue the Defendants and their Related Parties for the Released Claims in this Settlement. If you have a pending lawsuit against any of these parties, including the Defendants, speak to your lawyer in that case immediately. Remember, the exclusion deadline is October 7, 2026.

16. If I exclude myself, can I receive money from this Settlement?

No. If you exclude yourself, you are not a Settlement Class Member and cannot submit a Proof of Claim.

17. Do I have a lawyer in this case?

The Court appointed the law firm of Bleichmar Fonti & Auld LLP to represent you and other Settlement Class Members. These lawyers are called "Lead Counsel." You will not be directly charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

18. How will the lawyers be paid?

Lead Counsel will ask the Court for attorneys' fees not to exceed 25% of the Settlement Amount, or $4,262,500.00, and for expenses in an amount not to exceed approximately $850,000.00, plus interest that is incurred on these amounts at the same rate as earned by the Settlement Fund. Such sums as may be approved by the Court will be paid from the Settlement Fund. In addition, Plaintiff may request an award of no more than $10,000.00 pursuant to 15 U.S.C. § 77z-1(a)(4) and/or 15 U.S.C. § 78u-4(a)(4) in connection with its representation of the Settlement Class. If the Court approves Lead Counsel's Fee and Expense Application in full, and if claims are submitted for 100% of the Twist common stock estimated to be eligible to recover under the Settlement, the average amount of fees and expenses is estimated to be approximately $0.09 per share of Twist common stock.

The attorneys' fees and expenses requested will be the only payment to Plaintiff's Counsel for their efforts in achieving this Settlement and for their risk in undertaking this representation on a wholly contingent basis. Plaintiff's Counsel has committed a substantial amount of time and significant expenses in litigating this case for the benefit of the Settlement Class. To date, Plaintiff's Counsel have not been paid for their services in conducting this Litigation on behalf of Plaintiff and the Settlement Class, nor for their expenses. The fees requested will compensate Counsel for their work in achieving the Settlement Fund for the benefit of the Settlement Class.

A copy of the Fee and Expense Application will be posted on the Important Documents page of this website after it has been filed with the Court.

19. How do I tell the Court that I do not like the Settlement?

If you are a Settlement Class Member, you can object to the Settlement if you do not like any part of it, including the Plan of Allocation and the request for attorneys' fees or expenses. You can state the reasons why you think the Court should not approve it. The Court will consider your views.

To object, you must send a letter saying that you object to the Settlement or to certain aspects of the Settlement in Peters v. Twist Bioscience Corp., et al., Case No. 5:22-cv-08168-EKL (N.D. Cal.), which must (1) include the objector's name, address, and telephone number; (2) provide documentation establishing the objector's membership in the Settlement Class, including documents showing the type and number of shares of Twist common stock purchased, acquired, and sold during the Class Period, as well as the dates and prices of each such purchase, acquisition, and sale; and (3) contain a statement of reasons for the objection, including whether it applies only to the objector, to a specific subset of the Settlement Class, or to the entire Settlement Class. You may also complete and submit the pre-formatted Objection Form, available for download here. The requirement to submit a written objection that satisfies these requirements may be excused upon a showing of good cause. The Court will require only substantial compliance with the requirements for submitting an objection.

Any objection should be sent only to the Court at the address below and must be mailed or delivered such that it is received by the Court (not simply postmarked) no later than October 7, 2026:

Clerk of the Court
UNITED STATESDISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN JOSE DIVISION
Robert F. Peckham Federal Building & United States Courthouse
280 South 1st Street, Room 2112
San Jose, California 95113

Unless the Court orders otherwise, any Settlement Class Member who does not object in the manner described above will be deemed to have waived any objection and shall be forever foreclosed from making any objection to any aspect of the proposed Settlement, the proposed Plan of Allocation, and any request for an award of attorneys' fees and expenses and an award to Plaintiff. Settlement Class Members do not need to appear at the Final Approval Hearing or take any other action to indicate their approval.

20. What's the difference between objecting and excluding?

Objecting is simply telling the Court that you do not like something about the Settlement. You can object only if you stay in the Settlement Class. Excluding yourself is telling the Court that you do not want to be part of the Settlement Class. If you exclude yourself, you have no basis to object because the case no longer affects you.

21. When and where will the Court decide whether to approve the Settlement?

The Court will hold a Final Approval Hearing at 10:00 a.m., on November 18, 2026, in Courtroom 7, 4th Floor, Robert F. Peckham Federal Building & United States Courthouse, 280 South 1st Street, San Jose, CA 95113. At this hearing the Court will consider whether the Settlement is fair, reasonable, and adequate, consider any objections, and listen to people who have asked to speak at the hearing. The Court may move the date or time of the Final Approval Hearing to a later date and/or time without further written notice to you. If the date or time of the Final Approval Hearing is changed, the new date and/or time will be posted on this website.

22. Do I have to come to the Hearing?

No. Lead Counsel will answer any questions the Court may have, and Settlement Class Members do not need to appear at the hearing or take any other action to indicate their approval. If you send an objection or statement in support of the Settlement, you are not required to go to Court to discuss it; you may pay your own lawyer to attend, or attend at your own expense, but you are not required to do so.

Please Note: The date and time of the Settlement Hearing may change without further written notice to the Settlement Class. In addition, the Court may decide to conduct the Hearing by video or telephonic conference or otherwise allow Settlement Class Members to appear at the hearing by video or telephone, without further written notice to the Settlement Class. In order to determine whether the date and time of the Hearing have changed, or whether Settlement Class Members must or may participate by telephone or video, it is advised you check this website for updates.

23. May I speak at the Hearing?

If you have timely filed an objection, you may ask the Court for permission to speak at the Final Approval Hearing. To do so, your written objection must (in addition to the information specified in Question 19 above) state your intention to appear at the hearing. You cannot speak at the hearing if you exclude yourself from the Settlement Class.

24. What happens if I do nothing at all?

If you do nothing, and you are a Settlement Class Member, you will not receive any money from this Settlement unless you submit a Proof of Claim. Unless you exclude yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against the Defendants or their Related Parties about the Released Claims.

25. How do I get more information?

This website and the Long-Form Notice summarize the proposed Settlement and do not describe all of the details of the Settlement. More details are in the Stipulation. You can obtain a copy of the Stipulation, along with other case-related documents, on the Important Documents page. You may also request a copy by contacting the Claims Administrator or Lead Counsel at the information below, or by visiting the Clerk's office at the United States District Court for the Northern District of California, San Jose Division, Robert F. Peckham Federal Building & United States Courthouse, 280 South 1st Street, Room 2112, San Jose, California 95113, during regular business hours.

Do not telephone the Defendants, Defendants' Counsel, or the Court regarding this website or the Long-Form Notice.

If you have questions about the Settlement, you can contact the Claims Administrator by email at info@TwistSecuritiesSettlement.com, by calling (833) 386-6546, or by writing to Twist Securities Settlement, c/o Claims Administrator, P.O. Box 25199, Santa Ana, CA 92799. You may also contact Lead Counsel at twistsettlement@bfalaw.com or (888) 879-9418.