In accordance with the terms of the Cooperation Agreement, dated as of May 1, 2022, as amended, by and among Medallion Financial Corp., KORR Value L.P., KORR Acquisitions Group Inc., Kenneth Orr, David Orr, and Jonathan Orr, Frederick A. Menowitz resigned from the Board of Directors of Medallion Financial Corp. (the “Company”) effective December 31, 2022.