Turtle Beach Corporation issued the following statement regarding its extensive efforts to reach a settlement with Immersion Corporation: Most recently, on April 11, 2023, the Company delivered a third counterproposal to Immersion's counsel, which accepted the key elements being sought by Immersion, including: The appointment of two of Immersion's nominees as new independent directors selected by the Board, subject to the typical due diligence process run by the Board's Nominating and Governance Committee; The resignation of William Keitel, the Company's Lead Independent Director, who has volunteered to retire, and a second incumbent director of the Board's choosing; and The formation of a Value Enhancement Committee, upon the agreement of only four directors from the reconstituted Board, for the purpose of overseeing value creation opportunities to enhance or otherwise maximize value for shareholders.