On January 8, 2017, Michael Jones, a director of Manning & Napier, Inc. notified the company that he would resign from the company’s Board of Directors effective January 9, 2017. Mr. Jones is stepping down to pursue a new employment opportunity in the investment management business. The company intends to fill the vacancy; however, no timetable has been announced for the appointment of a new board member. Until a replacement can be identified, the company’s Board will consist of six members, four of which are independent directors.