On May 3, 2024, Kubient, Inc. (the ?Company?) implemented an approximately 50% reduction in the Company?s workforce, or two people. The reduction in workforce is intended to reduce the Company?s operating costs in connection with the potential wind-down of the Company?s business. The Company expects to recognize restructuring charges in connection with the workforce reduction plan with respect to severance payments and benefits.

Severance and benefit continuation charges are estimated to be approximately $243,000 and are expected to be recognized primarily in the second quarter of 2024. The Company expects the organizational change will reduce current annualized payroll and benefit expenses by up to $485,000.