On February 1, 2019, Arkady Rakhilkin resigned from the board of directors of Freedom Holding Corp. As a result, he will also no longer serve on any committee of the company’s board of directors. On February 4, 2019, in accordance with the company’s By-Laws, the board of directors appointed Boris Cherdabayev as a member of the board of directors to fill the vacancy created by Mr. Rakhilkin’s resignation. There are no arrangements or understandings between Mr. Cherdabayev and any other person pursuant to which Mr. Cherdabayev was appointed to the board of directors of the company.