TIMBER PHARMA OPT-OUT ELECTION FORM

Introduction

OPT-OUT ELECTION FORM

You are receiving this opt-out election form (this “Opt-Out Election Form”) because you are or may be a Holder of one or more Claims or Interests in Classes 4, 5, 6A, and 6B under the Revised Combined Disclosure Statement and Chapter 11 Plan of Liquidation for Trex Wind-down, Inc. and its Affiliated Debtors [D.I. 290] (as amended, supplemented or otherwise modified from time to time, according to its terms, the “Combined Disclosure Statement and Plan”)¹. Holders in Classes 4, 5, 6A, and 6B are not entitled to any recovery under the Plan and are therefore deemed to reject the Plan. Therefore, you will not be receiving a ballot to vote on the Plan.

As of the Effective Date of the Plan, certain release, injunction and exculpation provisions set forth in the Plan will become effective, including a release by holders of Claims and Interests as set forth in Article X of the Plan (the “Third-Party Release”). These provisions are attached as Schedule A to this form. You may choose to opt out of the Third-Party Release set forth in Article X of the Plan by following the instructions set forth in this Opt-Out Election Form.

IF YOU WISH TO OPT OUT OF THE THIRD-PARTY RELEASE SET FORTH IN ARTICLE X OF THE PLAN:

(1) PLEASE COMPLETE, SIGN, AND DATE THIS OPT-OUT ELECTION FORM AND RETURN IT TO KROLL RESTRUCTURING ADMINISTRATION LLC IN THE PREPAID, PRE-ADDRESSED BUSINESS REPLY ENVELOPE PROVIDED OR BY FIRST-CLASS MAIL, OVERNIGHT OR HAND DELIVERY TO:

Timber Pharmaceuticals
Ballot Processing Center
c/o Kroll Restructuring Administration, LLC
850 3rd Avenue, Suite 412
Brooklyn, NY 11232
(to arrange hand delivery of your Opt-Out Election Form, please send an
email to TimberInfo@ra.kroll.com (with “Timber Solicitation Ballot
Delivery” in the subject line)at least 24 hours before arrival at the Kroll
address above and provide the expected date and time of delivery)

(2) SUBMIT YOUR CUSTOMIZED, ELECTRONIC OPT-OUT ELECTION FORM VIA THE CLAIMS AND BALLOTING AGENT’S ONLINE PORTAL AS FOLLOWS:

Please visit the Debtors’ restructuring website at https://restructuring.ra.kroll.com/timber/. Click on the “Submit E-Ballot” section of the website and follow the directions to submit the electronic version of your Opt-Out Election Form. If you choose to submit your Opt-Out Election Form via the Claims and Balloting Agent’s online E-Ballot portal, you should not also return a hard copy of your Opt-Out Election Form.

IMPORTANT NOTE: You will need the following information to retrieve and submit the customized electronic version of your Opt-Out Election Form:

Unique Opt-Out ID#________________________________

The online E-Ballot portal is the sole manner in which your Opt-Out Election Form will be accepted via electronic or online transmission. Opt-Out Election Forms submitted by facsimile or email will not be counted.

Please note that if you are a Holder of Class 5 - Interests described in the chart below in “street name” through a bank, broker, or other intermediary at DTC or another similar securities depository, you will not be issued a Unique Opt-Out ID# and may not submit your Opt-Out Election Form via the E-Ballot portal as described above. Instead you must click on the Public Equity Opt-Out link located on the left hand navigation panel of the Debtors’ restructuring website at https://restructuring.ra.kroll.com/timber/ to upload an electronic version of your Opt-Out Election Form on account of your Class 5 – Interests

CUSIP / ISIN

Timber Pharmaceuticals, Inc. Common Stock

887080208 / US8870802084

THIS OPT-OUT ELECTION FORM MUST BE ACTUALLY RECEIVED, REGARDLESS OF THE METHOD OF SUBMISSION, BY THE CLAIMS AND BALLOTING AGENT ON OR BEFORE THE VOTING DEADLINE OF APRIL 22, 2024 AT 4:00 P.M. (PREVAILING EASTERN TIME) (THE “RELEASE OPT-OUT DEADLINE”). IF THIS OPT-OUT ELECTION FORM IS RECEIVED AFTER THE RELEASE OPT-OUT DEADLINE, IT WILL NOT BE COUNTED BY THE CLAIMS AND BALLOTING AGENT AND YOU WILL BE DEEMED TO HAVE CONSENTED TO THE THIRD-PARTY RELEASE SET FORTH IN ARTICLE X OF THE PLAN.

IF YOU HAVE QUESTIONS ABOUT THE COMPLETION OR SUBMISSION OF THIS OPT-OUT ELECTION FORM PLEASE CONTACT THE CLAIMS AND BALLOTING AGENT BY WRITING TO TIMBER PHARMACEUTICALS BALLOT PROCESSING CENTER, C/O KROLL RESTRUCTURING ADMINISTRATION LLC, 850 3RD AVENUE, SUITE 412, BROOKLYN, NY 11232; BY EMAIL AT TIMBERINFO@RA.KROLL.COM WITH A REFERENCE TO “TIMBER PHARMACEUTICALS, INC.” OR “TREX WIND-DOWN, INC.” IN THE SUBJECT LINE; OR BY TELEPHONE AT +1 646-777-2216 (INTERNATIONAL) OR 1-844-369-8504 (U.S./CANADA TOLL-FREE).

1 All capitalized terms not described herein shall have the meaning ascribed to them in the Combined Disclosure Statement and Plan.