On September 25, 2023, Driver Management Company LLC sent a letter to J. Michael Adams, Chairman of the board of directors of AmeriServ Financial, Inc. Driver Management Company stated that by letter dated September 6, 2023, it requested (i) information regarding the process for obtaining the approval contemplated by Section 2.14 of the Company?s amended and restated bylaws and (ii) information regarding the criteria used and the process followed by the Board when determining whether approve a person for election, re-election, appointment or re-appointment to the Board as well as determining whether a background check has not revealed any information that in the opinion of the [Board] and outside counsel should preclude [an individual] from serving as a director. Driver Management Company added that there has been no response to the September 6 letter. Driver Management Company added that by letter dated September 7, 2023, Driver Management Company demanded to inspect certain of the Company?s books and records that would (or should) contain the necessary information.

In response to the letter dated September 14, 2023, counsel to the Company indicated that the Company would not provide the necessary information pursuant to the Books and Records Demand on the asserted basis that Driver Management Company did not have a proper purpose in making the Books and Records Demand, a contention that rings particularly false given that?as stated in the September 6 Letter?Driver Management intends to nominate candidates for election to director at the Company?s 2024 annual meeting of shareholders and was requesting the necessary information in order to comply with the interlocks bylaw and the background check bylaw.