On April 12, 2022, Dr. Claus Andersson, a director of the board of directors (the 'Board') of the IO Biotech, Inc. (the 'Company'), notified the Company that he will not stand for re-election at the company's 2022 annual meeting of stockholders. On the same date, Dr. Emmanuelle Coutanceau, a director of the Board, notified the Company that she will not stand for reelection at the Company's 2022 annual meeting of stockholders. Neither Dr. Andersson's nor Dr. Coutanceau's decision is due to any disagreement with the Company or the Board on any matter relating to the Company's operations, policies or practices.