On January 10, 2022, David S. Oros resigned from the board of directors of Evolving Systems, Inc. Mr. Oros had served on the Company's Board since March 2008 and was a member of the Compensation and Audit Committees and chair of the Corporate Governance and Nominating Committee. Mr. Oros' resignation was not the result of any disagreement between Mr. Oros and the Company or the management, Board or any committee of the Board. On January 10, 2022, Julian D. Singer resigned from the Board.

Julian  D. Singer had served on the Board since January 2015 and was a member of the Audit, Compensation and Corporate Governance and Nominating Committees. Julian D. Singer's resignation was not the result of any disagreement between him and the Company or the management, Board or any committee of the Board. On January 10, 2022, pursuant to Article IV, Sections 18 and 25 of the Bylaws of the Company, the Board adopted a resolution appointing Steven G. Singer and Igor Volshteyn to the Company's Board effective immediately, to serve until the next annual meeting of stockholders or their earlier death or resignation.

Steven Singer will fill the vacancy resulting from the resignation of David S. Oros. Mr. Singer is an “independent” director under the NASDAQ rules and will serve on the Board's Audit Committee, the Compensation Committee, the Investment Committee and the Corporate Governance and Nominating Committee, which he will chair. Mr. Volshteyn will fill the vacancy resulting from the resignation of Julian D. Singer.

Mr. Volshteyn is an “independent” director under the NASDAQ rules and will serve on the Board's Audit Committee, the Compensation Committee, the Corporate Governance and Nominating Committee, and the Investment Committee, which he will chair.