Joseph M. Greene has retired as a member of the Boards of Directors of Capital Bancorp, Inc. as well as from any committees of such Board of Directors on which he served, effective as of February 1, 2023. Mr. Greene served as a member of the Audit Committee and ESG Committee of the Company's Board of Directors. Mr. Greene's decision to retire did not involve any dispute or disagreement with Company management or the Board of Directors on any matter relating to the Company's operations, policies or practices.

The Board of Directors of the Company, upon the recommendation of its Nominating and Corporate Governance Committee, approved the appointment of Fred J. Lewis as a Class I director on the Company's Board of Directors, effective as of February 1, 2023, to fill the vacancy following Mr. Greene's retirement. Mr. Lewis currently serves as a member of the Board of Directors of the Company's wholly-owned subsidiary, Capital Bank, N.A. Mr. Lewis joined the Bank Board in March of 2018 and serves as a member of the Loan Committee, Finance Committee, Strategic Innovations Committee, Special Assets Committee, Risk Committee, and ALCO. Mr. Lewis is considered an independent director under the applicable Securities and Exchange Commission and NASDAQ rules.

As a Class I director, Mr. Lewis will be subject to re-election at the Company's annual meeting of stockholders to be held in 2024.