On January 6, 2020, Driver Management Company LLC emailed a letter to certain shareholders of First United Corporation. In the letter, Driver Management stated that it has spent the past nine months trying to initiate a dialogue with Carissa Rodeheaver, the Company’s Chairman and Chief Executive Officer, about pursuing a sale that can deliver a meaningful premium for shareholders. Driver Management stated that it sought to demonstrate to Ms. Rodeheaver that shareholders will be far better served if the Company initiates a sale process rather than remaining committed to a standalone path that is unsupported by a viable strategy or credible business plan. In addition, Driver Management stated that the bottom line for shareholders is that the Board must be held accountable if the Board continues to dismiss shareholders’ calls for a sale, Driver expressed there is heightened risk of value destruction.