On September 19, 2023, Dr. Nandabalan resigned as a member of BioXcel Therapeutics, Inc.?s Board of Directors (the ?Board?) effective as of such date. His resignation was not a result of any disagreement with the Company on any matter relating to the Company?s operations, policies or practices. In order to achieve an equal balance of membership among the classes of directors following Dr. Nandabalan?s resignation, on September 20, 2023, Sandeep (?Steve?) Laumas, M.D., a Class II director, resigned from the Board and as a member of the Board?s Audit Committee and as chair thereof, and as a member of the Compensation Committee and of the Nominating and Corporate Governance Committee and was immediately elected by the Board as a Class I director and to the Board?s Audit Committee and as chair thereof, the Compensation Committee and the Nominating and Corporate Governance Committee.

The resignation and reappointment of Dr. Laumas was effected solely to rebalance the Board?s classes and, for all other purposes, including committee service and compensation, Dr. Laumas?s service on the Board and its Audit Committee and as chair thereof, Compensation Committee and Nominating and Corporate Governance Committee is deemed to have continued uninterrupted. Following Dr. Nandabalan?s resignation and the reassignment described above, the Board consists of two Class I directors, two Class II directors and two Class III directors, and the size of the Board has been reduced to provide for a total of six directors authorized to serve on the Board.