BurgerFi Designates David Heidecorn As Successor To Ophir Sternberg As Chairman Of Board

Heidecorn, a Senior Advisor to and former Partner of L Catterton, was designated as the successor to Ophir Sternberg, who resigned all positions with the Company on May 23, 2024, including as Executive Chairman of the Board, effective immediately.

The Company has entered into a Forbearance Agreement and Seventeenth Amendment to its existing credit facilities with TREW Capital Management Private Credit 2 LLC ("TREW"), pursuant to which the secured parties under the credit facilities agreed to forbear from exercising their rights under the credit documents until at least July 31, 2024.

In addition, L Catterton and TREW have each agreed to lend up to $2 million ($4 million collectively) to assist the Company during this strategic review process.