On August 30, 2023, the Board of Directors of RumbleOn, Inc. appointed Mark Cohen as a Class I director of the Company to fill the vacant seat created by Shin Lee?s resignation from the Board on July 29, 2023. The Board designated Mr. Cohen as a Class I director with a term expiring at the Company?s 2025 annual meeting of stockholders. The Board determined that Mr. Cohen is an independent director for purposes of the Nasdaq listing requirements and Mr. Cohen is also expected to be appointed to serve as a member of the Compensation Committee of the Board.

Mr. Cohen is an experienced investor and the managing partner of Stone House Capital Management, LLC . Mr. Cohen founded Stone House in 2010. Prior to founding Stone House, he was an Investment Analyst at Force Capital Management, LLC.

Mr. Cohen holds a B.S. in Economics from the University of Pennsylvania?s Wharton School. Mr. Cohen will participate in the Company?s non-employee director compensation program, which is described under the section titled ?Director Compensation? in the Company?s proxy statement for its 2023 annual meeting of stockholders, which was filed with the Securities and Exchange Commission (?SEC?) on June 23, 2023.

There are no family relationships between Mr. Cohen and any Company director or executive officer, and no arrangements or understandings between Mr. Cohen and any other person pursuant to which he was selected as a director, other than the Standby Purchase Agreement (as defined below). Mr. Cohen was appointed to the Board pursuant to the board nomination right granted to Stone House under the Standby Purchase Agreement, dated August 8, 2023 (the ?Standby Purchase Agreement?), by and among the Company, Stonehouse, Mark Tkach, and William Coulter, which agreement is described in and filed as an exhibit to Current Report on Form 8-K filed with the SEC on August 11, 2023. Under the Standby Purchase Agreement, Stone House has committed to purchase any unsubscribed shares in the Company?s proposed rights offering for a maximum aggregate purchase amount of $50,000,000.

The Standby Purchase Agreement also provides Stone House with the right to designate one nominee to the Board, who will be considered as a candidate for election or appointment to the Board, subject to applicable corporate governance policies and guidelines of the Company and the Board and applicable legal, regulatory, and stock exchange requirements. On August 8, 2023, after the execution of the Standby Purchase Agreement, Stone House notified the Company that it was designating Mr. Cohen as its nominee to serve on the Board. Because Mr. Cohen is the Managing Partner and an affiliate of Stone House, the Standby Purchase Agreement is considered a related party transaction between the Company and Mr. Cohen reportable under Item 404 of Regulation S-K.