The Board of Directors (“Board”) of Turtle Beach Corporation announced a waiver agreement under the May 13, 2022, Cooperation Agreement signed between the Board and one of its larger shareholders, The Donerail Group (“Donerail”). In the mutually agreed-upon waiver, Donerail has elected to waive its right to replace an outgoing director, Brian Stech, who has announced his decision not to stand for re-election at the Company’s 2023 Annual Meeting. Mr. Stech is graciously thanked for his time and contribution to Turtle Beach over the past year.

In conjunction with this announcement, Mr. Wyatt, in his capacity as shareholder representative, will be added to the CEO Search Committee and the Compensation Committee in addition to the previously announced appointment of Mr. Wyatt to the Value Enhancement Committee of the Board.