As publicly announced on April 20, 2023, the Board of Directors of SHF Holdings, Inc. appointed Mr. Douglas M. Fagan to fill a vacancy on the Board, effective immediately. Mr. Fagan will serve as a Class III director with a term expiring at the Company's Annual Meeting of Stockholders in 2024. Mr. Fagan was nominated by the Company's Nominating and Corporate Governance Committee (the Committee") after a review of his background, relevant experience, and professional and personal reputation.

An agreement related to compensation has not yet been reached; however, Mr. Fagan will be compensated commensurate with other directors of the Board. Mr. Fagan, 58, became the Chief Financial Officer of Partner Colorado Credit Union (PCCU") in September 2017, and the Chief Executive Officer in July 2021. PCCU is the Company's largest shareholder and has been party to multiple agreements with the Company, as previously disclosed.

Prior to being employed by PCCU, Mr. Fagan was Senior Vice President of Asset Management at MIDFLORIDA Credit Union and Vice President of Finance at Bag Gulf Credit Union. He earned a Master of Business Administration, with a concentration in accounting, from the University of Tampa and a Bachelor's Degree in accounting and finance from Florida Southern College.