Boxed, Inc. announced that On August 3, 2022, Jared Yaman, a Class I director, notified Boxed, Inc. that he would not stand for re-election to the Board of Directors of the Company at the 2022 annual meeting of stockholders to be held on September 15, 2022 (the “Annual Meeting”). Mr. Yaman will continue to serve as a director until the Annual Meeting. Mr. Yaman's decision not to stand for re-election as a director was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Mr. Yaman continues to serve as the Chief Operating Officer of the Company. The Board thanks Mr. Yaman for his many contributions and his valuable insight to the Board.