Babylon Holdings Limited announced that on March 30, 2023, Mohannad AlBlehed notified the board of directors of the company of his resignation as a director, effective immediately. Mr. AlBlehed's decision was not the result of any dispute or disagreement with the Company on any matter relating to the Company's operations, policies or practices. On March 29, 2023, the Board appointed Eugene I. Davis to the Board, effective as of March 30, 2023.

The Board has determined that Mr. Davis is independent under the standards of the Securities and Exchange Commission (the "SEC") and the New York Stock Exchange. Mr. Davis was nominated pursuant to the bridge loan notes facility agreement (the “Bridge Facility Agreement”), dated March 9, 2023, among the Company, as borrower, Babylon Healthcare Inc., Babylon Partners Ltd., and Babylon Inc., and Babylon Group Holdings Limited, as guarantors, and Kroll Trustee Services Limited, as trustee and security agent. The Bridge Facility Agreement gives certain affiliates of, or funds managed and/or advised by, AlbaCore Capital LLP (the "Majority Bridge Noteholders," as further defined in the Bridge Facility Agreement) the right to nominate a non-executive, independent director for appointment to the Board (the "Bridge Noteholder-selected Independent Director").

If Mr. Davis, as the Bridge Noteholder-selected Independent Director, resigns or is replaced for any reason whatsoever (including by way of a shareholder vote), the Majority Bridge Noteholders may nominate, in consultation with the Company, a replacement Bridge Noteholder-selected Independent Director, and the Company has agreed to use all reasonable endeavors to effect the appointment of such replacement Bridge Noteholder-selected Independent Director within the time period specified in the Bridge Facility Agreement. In addition, Mr. Davis is expected to be named to serve on the Remuneration Committee and the Strategic Committee of the Board, in accordance with the Bridge Facility Agreement.