On January 25, 2023, George E. Norcross, Gregory B. Braca, Philip A. Norcross announced that as previously disclosed, Philip A. Norcross submitted to Republic First Bancorp, Inc. a purported nomination notice indicating an intention to nominate 1 director candidate for election to the CompanyÆs board of directors at the CompanyÆs 2022 annual meeting of shareholders, which, as announced on November 4, 2022, is currently scheduled to be held on January 26, 2023. George E. Norcross stated that the Company determined that the purported nomination notice was invalid. George E. Norcross, Gregory B. Braca, and Philip A. Norcross sued the Company and its directors in the Court of Common Pleas of Philadelphia County seeking a declaratory judgment that the CompanyÆs rejection of the purported nomination notice was improper.

George E. Norcross has filed a motion for a preliminary injunction seeking, among other things, to adjudicate the propriety of the CompanyÆs rejection of the purported nomination notice. George E. Norcross added that following a status conference with the parties held January 18, 2023, and pursuant to an order issued January 24, 2023, (i) the Court of Common Pleas set April 25, 2023, for a hearing on George E. NorcrossÆ motion and (ii) in the meantime, the Company may not hold any shareholder vote with regard to any vacancy on its board of directors until May 31, 2023, at the earliest. George E. Norcross stated that in compliance with the order, the Company would convene the 2022 annual meeting on January 26, 2023, and immediately adjourn the meeting until at least May 31, 2023, without conducting any business.