The Arena Group Holdings, Inc. announced Mr. Frankl, a senior managing director with FTI, will no longer serve as interim Co-President and Chief Business Transformation Officer of the Company. Mr. Frankl served as interim Co-President since January 23, 2024 and as Chief Business Transformation Officer of the Company since January 5, 2024. Mr. Frankl and FTI will continue to be available to the Board and management to ensure a smooth transition of responsibilities.

In connection with the departure of Mr. Frankl described above, Manoj Bhargava, previously serving as the Company?s Co-President, will serve as President effective April 26, 2024. Mr. Bhargava, 71, is the founder of Innovation Ventures LLC and has served as its Chief Executive Officer since its inception in 2000. Mr. Bhargava has extensive management, operations and marketing experience, which he has applied to numerous new business start-ups including a water filtration company, a research and development company and an investment company.

There are no changes in the compensation of Mr. Bhargava in connection with his change in title.