On June 29, 2020, Pluristem Therapeutics Inc., or the Company, held its 2020 Annual Meeting of Stockholders, or the 2020 Annual Meeting. As a result of the voting outcome from the 2020 Annual Meeting, on June 30, 2020, each of Israel Ben-Yoram and Nachum Rosman notified the Company of their decision to resign as members of the Board of Directors, or the Board, effective immediately. At the time of their respective resignations, Mr. Ben-Yoram was an independent director and member of the Audit Committee and Compensation Committee of the Board and Mr.Rosman was an independent director and member of the Audit Committee, Compensation Committee and Nominating Committee of the Board. Messers. Ben-Yoram and Rosman's resignations as members of the Board also constitute their resignations as members of each of these committees. Messers. On July 1, 2020, the Board determined that Ms. Moria Kwiat is deemed to be an independent board member. In addition, the Board appointed Ms. Kwiat and Isaac Braun to serve on the Audit Committee, determined that Mr. Doron Shorrer is an Audit Committee financial expert and appointed Mr. Braun to serve on the Compensation Committee.