PolarityTE, Inc. elected Jeff Dyer, PhD, to serve as a member of the Board of Directors beginning January 26, 2023, for a term expiring at the Company's 2025 annual meeting of stockholders. Dr. Dyer was also appointed to serve on the Company's Audit Committee, Nominating and Governance Committee, and Compensation Committee for which he will also serve as chairperson. Dr. Dyer served on the Company's Board from March 2, 2017, to September 2, 2022.

Dr. Dyer has served as the Horace Beesley Professor of Strategy at Brigham Young University since September 1999. From August 1993 until September 1999, he served as an Assistant Professor at Wharton School, University of Pennsylvania, and from July 1984 until September 1988 he served as Management Consultant and Manager of Bain & Company. Dr. Dyer received his Bachelor of Science degree in psychology and MBA from Brigham Young University and his PhD in management from University of California, Los Angeles.

In consideration for Dr. Dyer's agreement to join the Board the Company agreed to pay him a one-time cash fee of $10,000. In accordance with the Company's annual compensation program for non-employee directors that began October 1, 2022, Dr. Dyer is entitled to receive a $50,000 annual retainer prorated for the period of actual service that began January 26, 2023, or a total of $33,972.60, which is paid in the form of restricted stock units issued under the Company's equity incentive plans that will vest in arrears at the rate of 26.2% on March 31, 2023, 36.9% on June 30, 2023, and 36.9% on September 30, 2023. Dr. Dyer will be entitled be entitled to additional compensation for his service on Board committees.

As chair of the Compensation Committee he is paid an annual cash fee of $7,500, payable quarterly in arrears and prorated for actual periods of service less than a full quarter. As a member of the Audit Committee Dr. Dyer is paid an annual cash fee of $4,500 and as a member of the Nominating and Governance Committee he is paid an annual cash fee of $2,500, in each case payable quarterly in arrears and prorated for periods of service less than a full quarter.