On July 28, 2021, Joe Baker, a member of the Board of Directors (the “Board”) of Authentic Equity Acquisition Corp. (the “Company”), notified the Board of his decision to resign as director of the Company effective immediately. Mr. Baker has been a member of the Board since the Company’s initial public offering and was a member of the Compensation Committee of the Board. Mr. Baker’s resignation was not due to any disagreement with the Company.