On November 19, 2022, Mr. Craig Dunham notified LightPath Technologies, Inc. of his resignation as a director effective immediately. Mr. Dunham has served as one of the Company's directors since 2016. Mr. Dunham's departure is not due to any disagreement with the Company.

As disclosed in the Company's Definitive Proxy Statement filed on Schedule 14A on September 26, 2022, Mr. Dunham had elected to defer receipt of certain vested restricted stock unit shares until after leaving the Board of Directors. These restricted stock unit shares were awarded as part of his annual director compensation beginning in 2014, including compensation he received as a consultant to the Board of Directors; the related compensation expense was recognized in the Company's financial statements each period as the compensation was earned and the shares were included in the weighted average diluted number of shares used to calculate the Company's earnings per share, as appropriate. Accordingly, Mr. Dunham will be issued 278,863 shares of the Company's Class A Common Stock.

On November 23, 2022, Mr. Sohail Khan also notified the Company of his resignation as a director effective immediately. Mr. Khan has served as one of the Company's directors since 2005. Mr. Khan's departure is not due to any disagreement with the Company.

As disclosed in the Company's Definitive Proxy Statement filed on Schedule 14A on September 26, 2022, Mr. Khan had elected to defer receipt of certain vested restricted stock unit shares until after leaving the Board of Directors. These restricted stock unit shares were awarded as part of his annual director compensation beginning in 2005; the related compensation expense was recognized in the Company's financial statements each period as the compensation was earned and the shares were included in the weighted average diluted number of shares used to calculate the Company's earnings per share, as appropriate. Accordingly, Mr. Khan will be issued 503,309 shares of the Company's Class A Common Stock.

LightPath's Chairman of the Company's Board of Directors, Louis Leeburg, along with the other directors and the executive management team recognize Mr. Dunham and Mr. Khan's dedication and many contributions to the Company and wish them well in their future endeavors.