On June 30, 2021, the board of directors of Arvana Inc. appointed Carl Dawson and Mathew Bentley to serve on the Board until the next annual meeting of stockholders for the election of directors, effective ten calendar days following the mailing of an information statement to stockholders to provide context for the appointments. On June 30, 2021, the Board accepted the resignation of Sir John Baring and Shawn Teigen from their respective positions on the Board effective July 24, 2021, in correspondence with the aforesaid assumption of directorial duties by the recent appointees to the Board.