Mr. Andrew Dale, a member of the board of directors of Coastal Financial Corporation, notified the company that he will not stand for reelection to the Board at the company’s 2021 annual meeting of shareholders (the “2021 Annual Meeting”). Mr. Dale’s resignation will be effective May 24, 2021. Mr. Dale is currently a member of both the Audit Committee and Credit Committee of the Board, and will serve in his current positions until the 2021 Annual Meeting.