Sagaliam Acquisition Corp. announced On June 26, 2022, George Caruolo, Gabriel Del Virginia and Glauco Lolli-Ghetti, each members of the Board of Directors of Sagaliam Acquisition Corp. (the “ Company”), resigned their positions from the Company’s Board of Directors effective immediately.

None of Messrs. Caruolo, Del Virginia or Lolli-Ghetti advised the Company of any disagreement with the Company on any matter relating to its operations, policies or practices. Instead, their resignations were in connection with the sale of the membership interests of Sagaliam Sponsor, LLC (“ Sponsor”) by GLD Sponsor Member, LLC (“ GLD Sponsor”) to BN Holdings Trust (“ BN Holdings”).