On August 8, 2023, CBI Co announced that Company board of director Jo communicated to representatives of CBI Co that he was not personally aware of the allegations and facts surrounding Shin?s and Cyworld Z?s acts and that he would resign, which he did effective August 1, 2023. In addition, CBI Co stated that as a result of Jo?s resignation, neither CBI Co nor the reporting persons will continue to pursue legal action against Jo and expect to continue to request that Ahn and Kim also resign. Further, CBI Co stated that it expects to nominate a replacement for Ahn as a Class III director at the 2023 Annual Meeting of Stockholders in accordance with the Company?s bylaws, if he does not resign, and it expect to urge the board to hold the 2023 Annual Meeting of Stockholders promptly and to pursue an action pursuant to Section 211 of the Delaware General Corporation Law seeking an order compelling that the meeting take place.