On June 16, 2022, Noriharu Fujita notified the Board of Allegro MicroSystems, Inc. of his decision to resign from the Board, effective June 20, 2022. Mr. Fujita's resignation is not the result of any disagreement between Mr. Fujita and the Company or its management on any matter relating to the Company's operations, policies or practices. On June 20, 2022, at the recommendation of the Nominating and Corporate Governance Committee and in accordance with the Amended and Restated Stockholders Agreement, the Board took the following actions, each of which was effective June 20, 2022: (i) increased the size of the Board from ten to 11 directors; (ii) elected Katsumi Kawashima to the Board as Mr. Fujita's successor as a Class I Director, to serve until the Company's 2024 annual meeting of shareholders and until his successor is duly elected and qualified; and (iii) elected Kojiro Hatano to the Board as a Class II Director, to serve until the Company's 2022 annual meeting of shareholders and until his successor is duly elected and qualified.

Messrs. Kawashima and Hatano were elected to the Board as designees of Sanken pursuant to and as set forth in Section 1(b) of the Amended and Restated Stockholders Agreement. See Item 1.01 for additional information regarding the Amended and Restated Stockholders Agreement.

Mr. Hatano has served as Manager of Business Performance for the Company since January 2006. During fiscal year 2022 he received compensation, consisting of salary, benefits and reimbursement of living expenses of approximately $206,000 from the Company. This amount was partially reimbursed to the Company by Sanken.

In addition to his role with the Company, Mr. Hatano has had roles with Sanken and Polar Semiconductor, LLC (“PSL”), an entity owned by the Company and Sanken. Mr. Hatano has served as General Manager of U.S. Business Enhancement for Sanken since April 2022. He was recently named Chairman and Chief Executive Officer of PSL, effective May 24, 2022.

In addition, since May 2021, Mr. Hatano has served as a member of the board of directors of PSL, and he has served on the board of directors of Sanken Electric Europe Limited since March 2020.