On September 8, 2023, Driver Management Company LLC announced that it has sent a letter to J. Michael Adams, Chairman of the board of directors of AmeriServ Financial, Inc. Accordingly, pursuant to Pennsylvania law, Driver Management hereby demands that the Board of Directors: (i) appoint a special litigation committee (a SLC) to undertake an independent investigation into the Culpable Parties? breaches of fiduciary duties and any other violations of Pennsylvania and/or federal law; and (ii) commence a civil action against all of the Culpable Parties to recover for the benefit of AmeriServ the damages sustained by the Company as a result of the misconduct described herein. Pursuant to Pennsylvania law, if within a reasonable time after receipt of the letter, the Board of Directors has not appointed an SLC and commenced an action as demanded herein, Driver Management will be entitled to commence a shareholder?s derivative action on behalf of the Company seeking appropriate relief.