On August 15, 2023, the Board of Directors of System1, Inc. appointed Taryn Naidu to serve as a Class I director and Tanmay Kumar to serve as a Class III director of the Board. Mr. Naidu was also appointed to serve on both the Audit and Compensation Committees of the Board. As a Class I director, Mr. Naidu will be up for re-election at the Company?s annual meeting of stockholders to be held in 2026.

As a Class III director, Mr. Kumar will be up for re-election at the Company?s annual meeting of stockholders to be held in 2025. Mr. Naidu brings more than 20 years of entrepreneurial and executive experience across multiple technology-based industries serving as both CEO and COO. Mr. Naidu currently serves as a Partner & Executive Officer at Arrington Capital, which he has served since 2023.

Prior to Arrington Capital, Mr. Naidu served as the COO at Rigetti Computing from 2019 to 2022, where he was instrumental in the business operations as well as leading multiple financing rounds for the company, including its public offering through a deSPAC merger. Prior to Rigetti Computing, Mr. Naidu was the CEO and a member of the Board of Directors of Rightside Group Ltd. upon its business separation from Leaf Group Ltd. in 2014, where he led one of the leading domain services companies until its sale to Identity Digital in 2017. Mr. Naidu received a B.Sc.

in computer science from the University of Regina. Mr. Kumar has over 12 years of investment and financial experience, and is currently an investment professional and Partner at Bridgeport Partners. Prior to Bridgeport Partners, Mr. Kumar was a Principal on the investment team at Motive Partners.

Prior to Motive Partners, Mr. Kumar was an investment professional at Wafra, Inc., in the Alternative Investments Division. Prior to Wafra, Mr. Kumar was an investment professional at Phillips Academy Andover in the school?s Investment Office. Mr. Kumar serves as an advisor to Jiko Group, Inc., a technology company that owns and operates an OCC-chartered national bank and a registered broker-dealer.

Mr. Kumar received a bachelor of arts in economics from New York University and is a CFA charterholder. In connection with the appointment of Messrs. Naidu and Kumar to the Company?s Board, on August 15, 2023, the Board also voted to increase the size of the Board from nine (9) directors to ten (10) directors, with the additional director being a Class I director of the Board, with a term expiring at the Company?s annual meeting to be held in 2026.