On March 8, 2016, the board of directors of Yahoo! Inc. increased the size of the board from seven to nine directors and appointed Catherine J. Friedman and Eric K. Brandt to serve as directors of Yahoo, effective immediately. The board also appointed Ms. Friedman to serve as a member of the Nominating and Corporate Governance Committee of the board and Mr. Brandt to serve as a member of the Audit and Finance Committee of the board.

Each of Ms. Friedman and Mr. Brandt will participate in the current director compensation arrangements applicable to non-employee directors.