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The Sonic Fund II, L.P. Issues Statement to Adverum Stockholders

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The Sonic Fund II, L.P. ("Sonic"), which beneficially owns approximately 6.8% of the outstanding common stock of Adverum Biotechnologies, Inc. (NASDAQ: ADVM) (the "Company" or "Adverum"), today issued the following statement regarding the Company’s upcoming 2021 Annual Meeting of Stockholders (the "2021 Annual Meeting"), which will be held on Wednesday, May 12, 2021.

"It has come to our attention that one or more Adverum stockholders were left with the impression, following discussions with Adverum’s representatives, that Adverum’s management is prepared to resign if Sonic’s three nominees are elected to the Board. Sonic believes that all stockholders are entitled to discount that fear to zero unless Adverum makes public disclosure to all stockholders addressing management’s actual plans. We remind stockholders that Delaware law imposes fiduciary responsibilities on corporate officers, and hope that stockholders will see through any last-ditch tactic to thwart an improved Board. If elected, our fully independent nominees are each committed to working collaboratively and constructively with the rest of the Board and management from day one – with the sole goals of maximizing stockholder value and delivering critical patient care."

For more information, please visit www.SaveAdverum.com.

VOTE ON THE GREEN PROXY CARD TODAY

If you have voted a white card from Adverum, a later-dated Green card will revoke that vote

If you have any questions or require any assistance with your vote, please contact Saratoga Proxy Consulting, LLC, which is assisting us, at its address and toll-free number listed on the following page. For more information, fellow stockholders can visit our website at https://www.saveadverum.com/investor-materials.

If you have any questions regarding your GREEN proxy card or need assistance in voting your shares, please contact

Saratoga Proxy Consulting, LLC

520 8th Avenue

New York, NY 10018

Stockholders may call toll-free: (888) 368-0379

Banks and brokers call: (212) 257-1311

info@saratogaproxy.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210511006123/en/

Contacts

Investors:
Saratoga Proxy Consulting LLC
John Ferguson / Ann Marie Mellone 212-257-1311
jferguson@saratogaproxy.com / amellone@saratogaproxy.com

Media:
Sloane & Company
Joe Germani / Sarah Braunstein
jgermani@sloanepr.com / sbraunstein@sloanepr.com

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