As part of a planned reorganization of the Franchise Group, Inc.’s Board of Directors (the “Board”), on March 31, 2020, the Company reduced the size of the Board from nine directors to seven. In connection with the reorganization, Kenneth M. Young and Bryant R. Riley voluntarily resigned from the Board, effective immediately. Also, in connection with the reorganization, Matthew Avril was appointed as Chairman of the Board. The Board members now consist of Mr. Avril, Patrick Cozza, Thomas Herskovits, Brian R. Kahn, Andrew M. Laurence, Lawrence Miller and G. William, Minner, Jr.