On March 31, 2016, the Nominating & Governance Committee of the Board of Directors of ARC Group Worldwide, Inc. nominated Mr. Alan G. Quasha to serve as a director and Chairman of the Board. Mr. Jason T. Young volunteered to step down from his position as Chairman of the Board in favor of Mr. Quasha. Further, in order for the Company to maintain a majority of independent directors, as required by the rules and regulations of the NASDAQ stock market, Mr. Drew M. Kelley volunteered to step down from the Board to create a vacancy among the minority of non-independent directors.

Mr. Kelley will continue his services to the Company in the capacity of Chief Financial Officer, and Mr. Young will continue as a director and as Chief Executive Officer (CEO) and President. The appointments of Mr. Quasha to the Board and to the position of Chairman were approved by the full Board effective March 31, 2016. Mr. Quasha is the Chairman and CEO of Quadrant Management, Inc.