On September 30, 2020, Bluegreen Vacations Holding Corporation (formerly BBX Capital Corporation) (BVH) completed its previously announced spin-off of BBX Capital Inc. (formerly BBX Capital Florida LLC) (New BBX Capital). As described under Introduction" above, in connection with the consummation of the Spin-Off, effective September 30, 2020, (i) Mr. Jarett Levan resigned as President of BVH, (ii) Mr. Alan Levan, BVH's Chairman and Chief Executive Officer, has succeeded Mr. Jarett Levan as BVH's President, and (iii) Seth M. Wise resigned as Executive Vice President and as a director of BVH. As a result, BVH's executive officers are: Alan B. Levan, Chairman, and President; John E. Abdo, Vice Chairman; and Raymond S. Lopez, Executive Vice President and Chief Risk Officer. In addition to the above-described resignation of Seth M. Wise as a director of the Company, the following directors also resigned from BVH's Board of Directors in connection with the completion of the Spin-Off on September 30, 2020 and have become directors of New BBX Capital: Norman H. Becker; Andrew R. Cagnetta, Jr.; Steven M. Coldren; Gregory A. Haile; Willis N. Holcombe; Anthony P. Segreto; and Neil Sterling. Effective September 30, 2020, Lawrence A. Cirillo was appointed to BVH's Board of Directors. Mr. Cirillo, age 81, has served as a director of Bluegreen Vacations since 2003. Mr. Cirillo was Principal Partner and President of Atlantic Chartering, an oil tanker brokerage company, from 1979 until Atlantic Chartering merged with Seabrokers Inc., a subsidiary of Clarkson Ltd. Mr. Cirillo served as a Vice President of Seabrokers Inc. until 2000. Since 2000, Mr. Cirillo has served as an oil tanker broker with Southport Maritime Inc. After giving effect to the foregoing, BVH's Board of Directors now consists of seven directors, who are Alan B. Levan, Chairman; John E. Abdo, Vice Chairman; Jarett S. Levan; and independent directors Lawrence A. Cirillo, Darwin Dornbush, Joel Levy and William Nicholson. In connection with the changes to the Board of Directors, the committees of BVH's Board of Directors have been reconstituted as follows: (i) BVH's Audit Committee is now comprised of Joel Levy, Chairman, Lawrence A. Cirillo, Darwin Dornbush, and William Nicholson; (ii) BVH's Compensation Committee is now comprised of William Nicholson, Chairman, Lawrence A. Cirillo, and Darwin Dornbush; and (iii) BVH's Nominating/Corporate Governance Committee is now comprised of Darwin Dornbush, Chairman, Lawrence A. Cirillo, and William Nicholson.