On July 14, 2023, William Heldfond resigned his position as a director of Open Lending Corporation (Company) following his resignation from True Wind Capital. Effective July 14, 2023, the Board approved the appointment of Thomas K. Hegge to serve as a director to fill the vacancy created by the resignation of Mr. Heldfond. Mr. Hegge’s term as a director will expire at the 2024 Annual Meeting of Stockholders.

At this time Mr. Hegge has not been appointed to serve on any Board committees. Mr. Hegge was appointed to the Board pursuant to that certain Investor Rights Agreement. Mr. Hegge is a Director at True Wind Capital.

Mr. Hegge joined True Wind Capital in 2021. Prior to joining True Wind Capital, Mr. Hegge was the Managing Member of Great Plains Partners from 2018 to 2021. From 2014 to 2018, Mr. Hegge was an investor at Berylson Capital Partners, where he led investments in public equities and oversaw the firm’s private growth equity investments.

Prior to joining Berylson, Mr. Hegge was with Advent International from 2009 to 2012, where he executed leveraged buyout transactions in the technology and business services sectors. From 2007 to 2009, Mr. Hegge worked in the investment banking division of Credit Suisse. Mr. Hegge holds a B.A. in Economics from Harvard College and an M.B.A. from Harvard Business School.