On May 22, 2023, Myoung-Ok Kwon and Stig Løkke Pedersen, each a member of the Board of Directors of NLS Pharmaceutics AG, notified the company of their intention to resign from the company's Board of Directors, effective May 22, 2023. The resignations of Ms. Kwon and Mr. Pedersen were not based on any material disagreement with the company on any matter relating to its operations, policies or practice. The Registrant's Board will designate alternate independent directors to serve on the Board at the Registrant's next annual meeting, which is expected to be held at the end of June 2023.