On December 12, 2022, Robert D. Graham, vice chairman of the board of the NL Industries, Inc., provided notice to the Company of his retirement, effective as of December 31, 2022, as a director and vice chairman of the board of the Company. In connection with his retirement as a director and officer of the Company, Mr. Graham also provided notice to the Company's affiliates Valhi, Inc. (“Valhi”), Kronos Worldwide, Inc. (“Kronos Worldwide”) and CompX International Inc. (“CompX”) that he will retire as an officer and director of those companies as of December 31, 2022. Following such retirements, Mr. Graham will continue to be employed by Contran Corporation (Contran), the privately-held parent corporation of the Company.

?Following such retirement notice of Mr. Graham, the Company's board of directors took action to elect Michael S. Simmons as a director and vice chairman of the board of the Company, effective as of January 1, 2023. Mr. Simmons, age 51, has served as executive vice president of the Company since June 2022. He also currently serves as a director and president of Valhi, as a director and executive vice president of CompX, as executive vice president, finance of Kronos Worldwide, and as senior vice president, finance of Contran.

Beginning January 1, 2023, he will serve as a director, vice chairman of the board, president and chief executive officer of Valhi; as a director and vice chairman of the board of the Company, Kronos Worldwide and CompX; and as a director, president and chief executive officer of Contran. Mr. Simmons has served in accounting and financial positions (including officer positions) with various companies related to the Company and Contran since 2018. From 1994 to 2018, Mr. Simmons was employed by PwC, most recently as a managing director.

?Mr. Simmons is an employee of Contran and provides his services to the Company under an intercorporate services agreement between the Company and Contran. In addition, in an unrelated matter, on December 13, 2022, R. Colin Gouveia resigned as a member of the board of directors of the Company. Mr. Gouveia's resignation did not result from any disagreement with the Company and was related to his election as a director and president and chief executive officer of Rogers Corporation, a publicly traded manufacturer of engineered materials, effective January 1, 2023.