On June 28, 2023, the Board of Directors of Rallybio Corporation appointed Stephen Uden, M.D., Rallybio’s President, Chief Operating Officer and Co-Founder since January 2018, to Chief Executive Officer, effective August 1, 2023. Dr. Uden will remain President. The Company does not expect to hire a replacement for Dr. Uden’s current role.

Dr. Mackay, who has served as Chief Executive Officer and Chairman of the Board since 2018, has been appointed to Executive Chairman, effective August 1, 2023. As Executive Chairman, Dr. Mackay will remain a full-time employee and continue to be actively involved with Rallybio, with a particular focus on company strategy, investor relations, and related activities. On June 28, 2023, the Board increased its size from ten directors to eleven directors, effective August 1, 2023, and appointed Dr. Uden to serve as a director to fill the newly created vacancy as of such date.

Dr. Uden will serve as a Class II director whose term will expire at Rallybio’s 2026 annual meeting of shareholders. Dr. Uden will not receive additional compensation for his role as a director.