On June 5, 2023, Menno V. Koopmans, Senior Vice President, Global Sales entered into agreements with Universal Electronics Inc. ("UEI") and Universal Electronics BV, a wholly owned subsidiary of UEI ("UEBV" and, collectively, with UEI, the "UEI companies") commencing his orderly retirement from the UEI companies. Mr. Koopmans will continue to serve the UEI companies in his current capacity until June 30, 2023, during which time he will assist in the transition to his successor. On June 30, 2023, Mr. Koopmans will cease being an executive officer of UEI, and thereafter, will continue his employment as a non-executive employee of the UEI companies providing assistance to UEI's Chief Executive Officer and other executive officers on special projects until December 31, 2023.