On January 28, 2020, MMA Capital Holdings, Inc. elected two new directors, Mr. Cecil E. Flamer and Ms. Suzanne G. Kucera to the Company's board of directors. Mr. Flamer, as appointed to the open Class II position on the Board and Ms. Kucera, was appointed to a newly created Class III vacancy. Since 2004, Mr. Flamer has been a Managing Director and Chief Administrative Officer of Brown Capital Management, Inc. In his capacity as Managing Director, he serves on the Management Committee, which is the firms governing body. Prior to joining the firm, Mr. Flamer was a partner at Ernst & Young, LLP. Mr. Flamers qualifications to serve as a director include his significant executive experience with an investment management company and his public accounting background. In connection with his election to the Board, Mr. Flamer has also been appointed to the Company's Audit, Compensation and Governance Committees. The Governance Committee of the Board has waived the Boards age restriction with respect to Mr. Flamers appointment. Ms. Kucera is Chief Financial Officer of Bright Power, Inc. Ms. Kuceras qualifications to serve as a director include her C-suite experience creating value in companies through proven leadership, strategic planning, management and operating skills. She is an agile leader of growth companies and start-ups who has successfully navigated diverse industries including technology, media, marketing, clean energy, consumer products, asset management and real estate. She is an experienced investment banker with nine years at Goldman Sachs followed by five years at Allen & Company. In connection with her election to the Board, Ms. Kucera has also been appointed to the Company's Audit, Compensation and Governance Committees. Both directors are independent directors for purposes of Nasdaq Listing Rule 5605(b)(1) and their appointment occurred within the cure period provided under Nasdaq Listing Rule 5605(b)(1)(A), thus the Company remains in compliance with the Nasdaq independent director requirements.