On January 4, 2023, Leslie Bernhard tendered her resignation to Milestone Scientific Inc. as a director, chairman of the audit committee and chairman of the board of the company. Ms. Bernhard's resignation comes after nearly 20 years of service as a director of the company. Ms. Bernhard indicated that her decision to resign was not the result of a disagreement with the company.

In connection with Ms. Bernhard's resignation, on January 4, 2023, the company's board of directors (the board) unanimously appointed Neal Goldman, who has been a member of the Board since 2019, as chairman of the board. Mr. Goldman is the President and Founder of Goldman Capital Management Inc., a family office since 2018, which was previously an investment advisory firm founded in 1985. Mr. Goldman was First Vice President of Research at Shearson Lehman Hutton.

He has also held senior positions as a money manager and research analyst with a variety of firms including Neuberger Berman, Moseley Hallgarten Estabrook and Weeden, Bruns Nordeman, and Russ and Company. Mr. Goldman has served as Chairman of Charles & Colvard Ltd. since 2016 and served on the board of directors of Imageware Systems Inc. until November 2020. He also serves on the board of directors of Koil Energy Solutions Inc. Prior to their respective acquisitions, he served on the boards of Blyth Industries and IPASS Corporation.

Mr. Goldman received his B.A. degree in Economics from The City University of New York (City College). Also on January 4, 2023, the board unanimously appointed Arjan Haverhals as a director of the company. Mr. Haverhals has been the company's chief executive officer since May 2021 and President since September 2020.

Mr. Haverhals has also been the President and Chief Executive Officer of the Company's Dental Division (Wand Dental Inc.) since June 2020. Mr. Haverhals brings more than 30 years of sales, marketing, product development, and international expansion experience within the medical device, pharmaceutical, and other industries. Prior to joining Wand Dental and the Company, Mr. Haverhals was senior vice president of sales at Xcentric Mold & Engineering from 2019 until 2020 where he was instrumental in increasing sales productivity and efficiency for the company's prototype injection molding services, which included leading healthcare company clients.

From 2012 until 2018, Mr. Haverhals worked at Straumann, LLC, a global leader in manufacturing medical and dental devices, where he held a series of commercial roles including vice president of customer marketing & education, where he oversaw all product franchises and led the launch of more than 30 products in the North American market. He also served as senior vice president for the Nordic Region at Straumann AB, senior vice president of global sales digital solutions, which included oversight of the strategic acquisition of Etkon; and served as vice president of the Prosthetics Business Unit, where he introduced a new implant prosthetics product line within a new market segment. Mr. Haverhals also served as vice president of global marketing & sales at Elkem AS, one of Norway's largest industrial companies.

Previously, Mr. Haverhals served as executive vice president of marketing & sales at Cresco Ti Systems Sàrl, a global dental implant company, where he was responsible for turning around and managing global sales, marketing, international business. Mr. Haverhals holds an MS in Pharmacy from the University of Leyden in the Netherlands.