On January 21, 2022, Motorsport Games Inc. notified Stephen Hood, the Company's President, that his position will be eliminated effective January 21, 2022. Mr. Hood has served in this role since April 2019. Effective immediately upon such termination, Dmitry Kozko, the Company's Chief Executive Officer, will assume all responsibilities of overseeing the Company's Development Studio.

No additional compensation arrangements have been made in connection with Mr. Kozko's assuming such responsibilities.