On May 11, 2023, Peter Barris, Sean Cunningham and Corey Mulloy each notified the Board of Directors of ZeroFox Holdings, Inc. of their respective decisions to retire from the Board and not stand for re-election at the Company's 2023 annual meeting of shareholders, to be held on June 29, 2023. Mr. Barris will continue to serve as a member of the Board, the audit committee of the Board and the nominating and corporate governance committee of the Board until the expiration of his term at the 2023 Annual Meeting. Mr. Cunningham will continue to serve as a member of the Board and the audit committee of the Board until the expiration of his term at the 2023 Annual Meeting.

Mr. Mulloy will continue to serve as a member of the Board and the compensation committee of the Board until the expiration of his term at the 2023 Annual Meeting. The decision by each of Messrs. Barris, Cunningham and Mulloy to not stand for re-election is not the result of any disagreement with the operations, policies or practices of the Company.

The Board is divided into three classes (Class I, Class II and Class III) with staggered three-year terms. Messrs. Barris, Cunningham and Mulloy serve as Class I directors whose term of office expires at the 2023 Annual Meeting.