On September 22, 2023, Rodney Yee resigned as a member of the Board of Directors of Firsthand Technology Value Fund, Inc. in order for the Fund?s Board of Directors to continue to comply with Section 56 of Investment Company Act of 1940, which requires that the Fund have a majority of its directors who are not ?interested? persons of the Fund within the meaning of the Company Act. The resignation of Mr. Nicholas Petredis as a Director in August 2023 for health reasons means that the Board would not otherwise meet that requirement under Section 56.

In addition, effective on September 22, 2023, Mr. Kimun Lee has moved from being a Class III Director to being a Class II Director, through his resignation as a Class III Director and his election by the Board of Directors as a Class II Director. This change occurred in order to provide each class with one director.