Encore Wire Corporation announced Mr. Fisher tendered his resignation as a director of the Company to the Board on May 3, 2022, subject to the Board's acceptance of such resignation. Pursuant to the terms of the Company's Majority Voting Policy, the Nominating and Corporate Governance Committee of the Board considered whether to accept or reject Mr. Fisher's resignation and recommended to the Board that it accept Mr. Fisher's resignation. While the Committee recognized that Mr. Fisher has been an instrumental member of the Board during his years of service, providing substantial building materials industry and financial knowledge and leadership experience, and was the Chairperson of the Committee when it identified and appointed the Board's first gender diverse member, the Committee has ultimately recommended that the Board accept Mr. Fisher's resignation in respect of the will of the Company's stockholders.

The Board, after considering relevant factors and following the Committee's recommendation, on August 1, 2022, accepted Mr. Fisher's resignation effective immediately. Mr. Fisher was not a participant in the deliberations of the Committee or the Board. Mr. Fisher's resignation was not the result of any dispute or disagreement with the Company or the Board on any matter relating to the operations, policies or practices of the Company.

The Board has appointed William R. Thomas, a current member of the Board and the Committee, as the new Chairperson of the Committee, effective as of August 1, 2022. As part of the Company's continued commitment to its stockholders, the Committee continues to actively search for a highly qualified racially diverse director candidate with the intent of filling the Board vacancy in 2022, which the Committee believes will best serve and represent the interest of stockholders.