Effective as of September 26, 2022, Mr. Jeffrey G. McGonegal stepped down from his long-time position as the Chief Financial Officer (principal financial officer and principal accounting officer) (“CFO”) of Riot Blockchain, Inc., as part of his planned retirement pursuant to the CFO transition previously announced by the Company (the “CFO Transition”). As part of the CFO transition, Mr. McGonegal will continue to be employed by the Company, as a Senior Advisor to assist with the CFO Transition, through the end of the current employment term of the Amended and Restated Executive Employment Agreement with the Company, as amended, (the “McGonegal Employment Agreement”) which is set to expire as of February 7, 2023. Additionally, the Board has authorized the Company to retain Mr. McGonegal as a Senior Advisor to further assist with the CFO Transition for at least six months following the end of the current term of the McGonegal Employment Agreement, as may be agreed by the parties at that time.

As part of the CFO Transition, the McGonegal Employment Agreement was automatically amended, effective as of September 26, 2022, to reflect the change in Mr. McGonegal's title from CFO to Senior Advisor, with all other terms of the agreement remaining as disclosed by the Company as Exhibits 10.8, 10.9 and 10.10 of the Company's annual report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission on March 16, 2022. Mr. McGonegal's compensatory arrangements did not change as a result of the CFO Transition. Pursuant to the previously announced CFO Transition, Mr. Colin M. Yee, age 46, was appointed as the Company's CFO (principal financial officer), effective as of September 26, 2022, immediately following Mr. McGonegal stepping down as the Company's CFO.

Mr. Yee has served as the Head of Corporate and Financial Operations at the company since April 2022. Prior to joining Riot, Mr. Yee was the Chief Financial Officer of a mid-market private equity firm specializing in renewable energy and infrastructure, the CFO of a publicly traded real estate company in Canada, and most recently, the Chief Operating Officer and Chief Financial Officer of a family office with controlling interests in companies focused on construction and geothermal systems. He is a Chartered Professional Accountant and holds Bachelor of Science and Bachelor of Commerce degrees from the University of Calgary. There are no family relationships, as defined in Item 401 of Regulation S-K, between Mr. Yee and any of Riot's other executive officers or directors or persons nominated or chosen to become a director or executive officer of the company.