On July 5, 2023, Elizabeth T. Beale notified Old Point Financial Corporation of her decision to resign as Chief Financial Officer & Senior Vice President/Finance and principal financial and accounting officer of the Company and as Chief Financial Officer & Executive Vice President of The Old Point National Bank of Phoebus (the “Bank”), the Company’s wholly owned national bank subsidiary. Ms. Beale is expected to remain with the Company in her current roles until on or about September 4, 2023, to assist in the transition of her responsibilities. Ms. Beale’s resignation does not entitle her to additional compensation other than what she is entitled to under the Company’s existing plans.

Ms. Beale’s resignation is not the result of any disagreement with the Company or Bank on any matter relating to the Company’s or Bank’s operations, policies, practices, financial disclosures, accounting practices or internal controls. The Company will be conducting a search for a new Chief Financial Officer.