Appointment of Alan Grayson to Rafael Holdings Board of Directors

On October 23, 2025, Rafael Holdings, Inc. announced the appointment of Alan Grayson to its Board of Directors. Mr. Grayson, a former Member of Congress, will serve on the Compensation, Corporate Governance, and Nominating Committees. Additionally, Markus Sieger, an existing Board member, was elected as the Chairman of the Audit Committee and as the Lead Independent Director. These appointments fill vacancies created by the recent passing of Stephen Greenberg, the former Lead Independent Director. Mr. Grayson brings extensive legal, financial, and government expertise to the Board. The company expressed deep sadness over the loss of Mr. Greenberg and extended condolences to his family.