On June 29, 2023, Michael J. Sheen notified Geospace Technologies Corporation (the “Company”) of his intention to retire and resign from his position as Senior Vice President and Chief Technical Officer of the Company, to be effective June 30, 2023. In connection with his retirement, Mr. Sheen and the Company have entered into an employment termination and consulting agreement (the “Consulting Agreement”). On June 30, 2023, the Company appointed Robbin B. Adams, age 65, as Senior Vice President and Chief Technical Officer of the Company effective July 1, 2023.

Mr. Adams has served as the Company’s Executive Vice President and Chief Product Engineer since 2012. Mr. Adams has been a design engineer with the Company since 1997. There are no arrangements or understandings between Mr. Adams and any other persons pursuant to which Mr. Adams was named Senior Vice President and Chief Technical Officer of the Company.