On April 10, 2020, Focus Financial Partners Inc. announced that as a result of the acquisition of Duff & Phelps by a global investor consortium led by funds managed by Stone Point Capital (one of the Company's private equity investors) and Further Global, Noah Gottdiener (Chief Executive Officer of Duff & Phelps) will no longer serve on the audit and risk committee of the Board of Directors (the “Board”) of the Company (the “Audit Committee”). Therefore, the Company will be relying on the cure period provided by Nasdaq Listing Rule 5605(c)(4)(B) with respect to the requirement that the Audit Committee be comprised of at least three directors. This cure period will expire on October 6, 2020. Mr. Gottdiener will continue to serve as a member of the Board. The Board has initiated a director search process and expects to have an additional Audit Committee member satisfying the requirements of the Nasdaq Listing Rules for Audit Committees prior to the expiration of the cure period.