Simulations Plus

* Effective October 16, 2025, our board of directors adopted a revised Code of Conduct. The revised Code of Conduct modifies the previous version of our Code of Conduct to add best practices with respect to responsible use of AI that complements the unchanged principles in the Code including compliance with certain laws, conflicts of interest, insider trading, confidentiality obligations, health and environmental protections, vendor audits and reporting of violations. The adoption of the revised Code of Conduct did not relate to or result in any waiver, whether explicit or implicit, of any provision of the previous version of our Code of Conduct.

The revised Code of Conduct applies to our board of directors, officers, employees, and affiliates, and governs conduct between our employees and our customers and vendors.