February 16, 2023, F. Barry Bays and Thomas Timbie provided notice to the board of directors (the “ Board ”) of Treace Medical Concepts, Inc. (the “ Company ”) of their intent to retire from the Board at the expiration of their current terms at the 2023 annual meeting of stockholders (the “2023 Annual Meeting”) and not to stand for re-election. Messrs. Bays and Timbie have served on the Board since June 2014 when the Company was founded.

Their decisions not to stand for re-election were not related to any disagreement with the Company on any matter relating to its operations, policies, practices or any issues regarding financial disclosures, accounting or legal matters. In connection with the expiration of these directors' current term at the Company's 2023 Annual Meeting and in order to achieve an equal balance of directors among the three classes on the Board, the Board approved the reclassification of director Jane E. Kiernan to be a Class II director, effective immediately prior to the 2023 Annual Meeting. Accordingly, Ms. Kiernan will stand for election as a Class II Director at the Company's 2023 Annual Meeting.