On August 3, 2021, the Board of Directors of Stagwell Inc. appointed Eli Samaha as a director at the recommendation of the Nominating and Corporate Governance Committee of the Board. Mr. Samaha had been named by Stagwell Media as a director designee to be nominated to the Board pursuant to the terms of the Transaction Agreement. In addition, Mr. Samaha replaced Irwin Simon as a member of the Audit Committee of the Board, and Secretary Rodney Slater replaced Ambassador Charlene Barshefsky as a member of the Nominating and Corporate Governance Committee, in each case, upon the recommendation of the Nominating and Corporate Governance Committee of the Board. Mr. Samaha is the Founder and Managing Partner of Madison Avenue Partners, LP. Prior to founding Madison, Mr. Samaha was a Partner at Newtyn Management and held roles at KPS Capital Partners and GSC Group.