On February 21, 2023, Samuel H. Armacost and Scott H. Baxter informed the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”) of Topgolf Callaway Brands Corp. (the “Company”) that they do not intend to stand for reelection to the Board upon completion of their current terms at the 2023 Annual Meeting of Shareholders (the “2023 Annual Meeting”). Mr. Armacost is retiring after 20 years of service on the Board, and Mr. Baxter has decided not to stand for reelection for personal reasons.

Neither director's decision not to stand for reelection was due to any disagreement with the Company. On February 22, 2023, the Board determined that, effective as of the 2023 Annual Meeting, the size of the Board will be reduced to 12 directors.