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Effective November 14, 2023, William J. Losch, III, was appointed as President of the Company. President of the Bank since August 2023 and of the Company since November 2023; Chief Financial Officer of the Company and Bank from 2021 to 2023 and Chief Banking Officer of the Company and Bank from 2022 to 2023. Prior to joining, Mr. Losch was the Chief Financial Officer at First Horizon Corporation, leading its financial activities, which included treasury, accounting controls, tax, financial planning, strategic planning, investor relations, corporate development, mergers and acquisitions, procurement, corporate properties, and First Horizon Ventures. Prior to his role at First Horizon Corporation, Mr. Losch held progressively senior roles at First Union Corporation and Wachovia Bank & Trust Co. and served as a senior vice president and chief financial officer for the general bank at Wachovia Corporation, the largest of the corporation's four major business lines.

Mark M. Moroz, Chief Banking Officer of the Company and the Bank since May 2025. Prior to his role as Chief Banking Officer, Mr. Moroz served most recently as Head of Deposits and Payments for the Bank since June 2023, providing oversight of all deposit functions including deposit product management, strategy, and operations. Previously, Mr. Moroz served in key leadership roles at the Bank, including Head of Operations and Head of Product, where he led operational priorities for the Bank as well as next-gen banking initiatives. Prior to joining the Bank, Mr. Moroz was Vice President of Retail Deposits for Barclaycard US, Senior Director of Retail Banking for Sallie Mae, Vice President of Marketing at JP Morgan, and Senior Manager of Product and Marketing at ING Direct US. Over the course of his career, Mr. Moroz has become an expert in the online banking arena where he helped to secure billions of deposits for his companies' funding needs. Mr. Moroz serves on the board of directors for Anatomy Financial, Inc. and Girls Leadership Academy of Wilmington (GLOW). Mr. Moroz holds a Bachelor of Arts degree from the University of Delaware.

Effective June 16, 2026, Walter J. Phifer assumed the role of Principal Accounting Officer on an interim basis. On November 14, 2023, the board of directors of the Company and the Bank appointed Walter J. Phifer as Chief Financial Officer of the Company and the Bank, effective January 1, 2024. Chief Financial Officer of the Company and the Bank since January 2024. Prior to his role as Chief Financial Officer, Mr. Phifer served as Treasurer and Head of Finance, Planning and Analysis. Phifer joined the Bank in 2015 and brings 20 years of experience in the financial industry, including various finance, treasury, accounting, audit, and deposit analytic roles. Prior to joining, Mr. Phifer served as the Deposits Finance Manager at Barclays US where he managed the finances and data analytics of a $10 billion deposit portfolio. He began his career in external audit at Deloitte, based out of the Boston and Philadelphia offices, and earned his Certified Public Accountant certification in 2006. Phifer received a bachelor's degree in economics and accounting from the College of the Holy Cross in Worcester, MA. Mr. Walter J. Phifer resigned as Chief Accounting Officer of the Company and the Bank effective July 1, 2026.

Mr. Renato Derraik, Chief Information and Digital Officer of the Bank since June 2021. Since February 2026, Mr. Derraik is also serving as the Interim Information Security Officer. Prior to joining the Bank, Mr. Derraik was the Chief Digital Officer at Ally Financial Inc., overseeing Ally's digital innovation and transformation activities. His over 25-year career includes driving large-scale digital, agile, and operating model transformations for Fortune 500 companies including Ally and Sprint, as well as being an expert partner at McKinsey & Company where he served clients across the globe on technology and digital transformations for 15 years.

James S. Mahan III. is the Company's founder, Chief Executive Officer, and Chairman of the Board of Directors. Mr. Mahan is also a managing partner and co-founder of Canapi Ventures, a series of funds focused on providing venture capital to new and emerging financial technology companies. Mr. Mahan currently serves on the board of directors for DefenseStorm, Inc., a cloud-based cybersecurity firm, and Savana Inc., a cloud-native solution that provides digital delivery of banking and customer service processes for financial institutions. Mr. Mahan is also a co-founder of nCino, Inc., a cloud-based banking software built on the Salesforce platform, Finxact, Inc., the cloud-native core-as-a-service platform, and Payrailz, Inc., a digital payment company. Prior to starting Live Oak Bank, Mr. Mahan was the Chief Executive Officer and Chairman for S1 Corporation and founder of Security First Network Bank, the world's first Internet bank. Under his leadership, S1 Corporation grew to become a $234 million software and services provider in only six years, averaging more than 200 percent growth year over year. At its peak, S1 had a market capitalization of over $6 billion. During his term as Chief Executive Officer, Mr. Mahan was ranked as one of the 10 Most Influential Personalities in Financial Services by FutureBanker magazine. Prior to founding Security First Network Bank and S1 Corporation, Mr. Mahan launched Cardinal Bancshares, where he served as Chairman and Chief Executive Officer. Mr. Mahan built Cardinal into an institution with approximately $675 million in total assets and took the company public in 1992. Before launching Cardinal, Mr. Mahan spent several years with Citizens Union National Bank & Trust Co., serving as President, Chief Operating Officer and Vice Chairman and becoming Chairman and Chief Executive Officer in 1984. In 1986, Mr. Mahan formed an investment group that purchased Citizens Union and subsequently sold it to BankOne Corp. of Columbus, Ohio. Mr. Mahan began his career in 1973 at Wachovia Bank & Trust Co. in Winston-Salem, NC, after graduating with a bachelor's degree in economics from Washington & Lee University in Lexington, Virginia. As the Company's founder, Chief Executive Officer and Chairman.

David G. Lucht. was most recently appointed as a member of our Board of Directors in February 2021. Mr. Lucht serves on the Risk, Compensation, and Nominating and Corporate Governance Committees. He is a founding member of the executive management team and previously served on the Board of Directors from 2008 to 2017. He served in several roles at Live Oak Bank including as President, Chief Risk Officer, Chief Lending Officer and Chief Credit Officer. After retiring from the Board in November 2017, Mr. Lucht continued to serve in several roles with the Bank most recently as Executive Vice President of Credit until his retirement from employment in December 2020. Before joining the Bank's predecessor in May of 2007, Mr. Lucht held executive positions with several different banking institutions, including Chief Credit Officer and Executive Vice President for First Merit Bank, Akron, Ohio, where he was responsible for leading a turnaround in credit culture and performance of the $10.5 billion bank. Prior to First Merit, Mr. Lucht served as Senior Credit Officer of National City Bank, Cleveland, Ohio. A native of Ohio, Mr. Lucht began his banking career with National City Bank in 1985 after graduating from Kent State University with his Masters in Business Administration. He obtained his undergraduate Bachelor of Science degree in Marketing at Miami University in Ohio. Mr. Lucht helped design the Bank's approach to the identification and management of credit risk.

Miltom E. Petty. has served as a member of our Board of Directors since August 2010. He serves on our Audit and Nominating and Corporate Governance Committees. In 2025, Mr. Petty retired from his role as Executive Vice President of Carolina Hosiery Mills, Inc., a privately held manufacturing and real estate development company, and previously served as the Chief Financial Officer for 45 years. Since August 2013, Mr. Petty has served as a director of Trust Company of the South. Mr. Petty graduated with a Bachelor of Science degree in Business Administration from the University of North Carolina at Chapel Hill. He has held an active CPA license from the State of North Carolina for over 50 years.

Tonya W. Bradford was appointed as a member of our Board of Directors in September 2020. Dr. Bradford is a professor of marketing at the University of California, Irvine where she conducts research regarding rituals, communities and identity across phenomenon including gifting (e.g., registry, organ, charitable), relationships with money, communities (e.g., tailgating and support), acculturation, and brand loyalty. Dr. Bradford graduated with a Bachelor of Arts degree in Anthropology from Northwestern University, a Masters in Business Administration from the Kellogg School of Management, Northwestern University, and a doctoral degree in Marketing from Northwestern University. Her research is published in premier journals, including the Journal of Consumer Research, the Journal of Marketing, the Journal of the Academy of Marketing Science, the Journal of Retailing, the Journal of Business Research, the Journal of Interactive Marketing, and Research in Consumer Behavior. Dr. Bradford serves as associate editor for Journal of Retailing and Journal of Public Policy & Marketing, the Journal of the Academy of Marketing Science, Journal of Consumer Research, and the Journal of Marketing. Dr. Bradford currently serves on the board of directors of Tealium, Inc. Prior to joining the University of California, Dr. Bradford worked domestically and abroad in financial services including Charles Schwab & Company, Gemini Consulting (now Ernst & Young), and S1 Corporation.

Neil L. Underwood. is a cofounder and has served as a member of our Board of Directors since 2008. Mr. Underwood previously served as President until November 2023, and currently serves as cofounder and General Partner of Canapi Ventures, a strategic fintech venture fund. While at Live Oak, Mr. Underwood cofounded nCino Inc. (Nasdaq:NCNO), a cloud-based bank operating system now serving over 1,000 financial institutions globally. Mr. Underwood also cofounded Live Oak Ventures, Inc., a subsidiary of Live Oak Bancshares Inc., where he helped incubate companies focused on digital bank transformation, including Finxact Inc., Payrailz, LLC, DefenseStorm, Inc. and Greenlight Financial Technologies, Inc. In 2017, Mr. Underwood cofounded Apiture, Inc., a joint venture between Live Oak Bank and First Data Corporation, serving as a cloud-native omni-channel onboarding and servicing platform. Mr. Underwood currently serves on the boards of Greenlight Financial Technologies, Inc., ModernFI, Inc., Island Technology, Inc., Notarize, Inc. (Proof), Asset Class Limited, Anatomy Financial, Inc., Cascading AI, Inc. (Casca), Posh Technologies, Inc., Digital First Holdings, LLC (Candescent), and the Camp Schreiber Foundation. He previously served on the boards of nCino Inc., Apiture Inc., DefenseStorm Inc., Payrailz, LLC, Finxact, Inc. and Blend Labs, Inc. A native of Miami, Florida, he holds a Bachelor of Science in Industrial Engineering from the Georgia Institute of Technology.

Patrick T. McHenry. Mr. McHenry joined as a member of our Board of Directors in May 2025. Mr. McHenry currently serves as a Senior Advisor with Lazard, Inc. Previously, Mr. McHenry served for twenty years across ten terms in the US House of Representatives as the Congressman for North Carolina's 10th Congressional District. Throughout his time in Congress, Mr. McHenry was a member of the House Financial Services Committee, including serving as its lead Republican member and Chairman from 2018 to 2024. During his time leading the committee, Mr. McHenry drove a robust legislative agenda focused on cryptocurrency, capital formation, artificial intelligence, fintech, data privacy, and corporate governance issues, among other topics. In addition to guiding the House Financial Services Committee, McHenry led the House of Representatives in October 2023, serving as the first ever Speaker Pro Tempore following the ouster of former Speaker Kevin McCarthy. During that time McHenry led the institution and worked to preserve the powers of the Speakership while also helping drive House Republicans towards consensus on a new Speaker. McHenry also served as one of House Republicans' lead negotiators in the spring of 2023 as they worked with the Biden Administration to pass the Fiscal Responsibility Act, a legislative package that achieved historic spending cuts and an increase in the debt ceiling, avoiding a catastrophic default. McHenry is a native of Gastonia, NC and a graduate of Belmont Abbey College.

Jeffrey W. Lunsford. joined as a member of our Board of Directors in August 2025. Mr. Lunsford currently serves as the Chief Executive Officer of Tealium, Inc., a leading customer data platform provider. Mr. Lunsford has more than three decades of experience as a technology and internet executive and leader. Prior to joining Tealium, Mr. Lunsford served as President, CEO, and Chairman of Limelight Networks, a global leader in digital content delivery, where he led the company through its initial public offering in 2007 and scaled its operations globally. From 2003 to 2006, Mr. Lunsford served as the CEO of WebSideStory, a SaaS-based web analytics pioneer that went public in 2004 and is now part of Adobe Systems. Earlier in his career, Mr. Lunsford served as the CEO of TogetherSoft, a software development tools company acquired by Borland Software, where he successfully integrated operations post-acquisition. In addition to his executive roles, Mr. Lunsford currently serves as Chairman of the board of directors of DefenseStorm, Inc., a cybersecurity solutions provider for financial institutions, and formerly served as chairman of the board of directors of nCino, Inc., a leading cloud banking company. A former naval aviator, he received a Bachelor of Science Degree in Information and Computer Sciences from the Georgia Institute of Technology.

On June 29, 2026, Matthew S. Diffley, joined Live Oak Banking Company as its Chief Accounting Officer. Effective July 1, 2026, the Board of Directors of Live Oak Bancshares, Inc., appointed Mr. Diffley as the Company's Principal Accounting Officer. Prior to his employment with the Bank, Mr. Diffley served as the Senior Vice President, Controller for Seacoast Banking Corporation of Florida since June 2020.

Mr. Michael J. Cairns, Chief Credit Officer of the Company and Bank since August 2024. Mr. Cairns previously served as Head of Credit and has been with Live Oak since 2015. Mr. Cairns brings 19 years of experience in banking with a focus on commercial banking roles including underwriting, underwriting management, and credit. In addition, his lending expertise includes small- and middle-market lending across commercial and industrial, commercial real estate, and asset-based lending. Prior to joining Live Oak, Mr. Cairns spent a decade in lending and credit roles at TCF National Bank and Talmer Bank & Trust (both now Huntington Bank) in his native Michigan. Mr. Cairns holds a Bachelor of Business Administration degree in finance with a specialty in banking and financial services, in addition to a Master of Science degree in finance from Walsh College in Troy, Michigan.

Ms. Courtney C. Spencer, Chief Experience Officer of the Company and the Bank since 2022; Chief Administrative Officer of the Company and the Bank from 2019 to 2022; Head of Human Resources of the Company and the Bank from 2016 to 2018. Ms. Spencer has over 25 years of financial services and HR experience. Prior to joining, Ms. Spencer was a Human Resources Strategic Business Partner and Vice President of Budget and Management Reporting at Square 1 Bank (now Pacific Western Bank). Prior to her role at Square 1 Bank, Ms. Spencer served in a variety of finance and control positions at Wachovia Bank & Trust Co. and Wells Fargo & Company.

Effective December 1, 2025, Live Oak Bancshares, Inc., appointed Ewa Stasiowska as Chief Risk Officer of the Company and its wholly owned subsidiary, Live Oak Banking Company. Ms. Stasiowska has served as Chief Risk Officer of the Company and the Bank since December 2025. She is a senior risk management executive with more than two decades of experience overseeing enterprise, financial, operational, and model risk functions within regulated financial institutions. Prior to joining the Company, she was Senior Managing Director at Webster Bank, where she was responsible for Enterprise, Model, and Financial Risk. In that role, she led the design and implementation of enterprise-wide risk and control frameworks, strengthened governance structures, and advanced the organization's risk culture, accountability, and transparency. Throughout her career, Ms. Stasiowska has held senior leadership positions spanning enterprise risk management, operational risk, model risk, financial risk, loan review, and regulatory relations, including oversight of regulatory examinations and remediation initiatives. She holds a bachelor's degree in economics from Boston University and an Master of Business Administration, with a concentration in Finance, from the University of Connecticut.

William L. Williams III. Mr. Williams is the Vice Chairman of our Board of Directors and one of the original founders of the Bank. He currently serves as Executive Vice President of the Company and the Bank. Prior to starting at Live Oak, Mr. Williams spent 19 years in corporate banking at Wachovia Bank & Trust Co. and worked for 14 years at Vine Street Financial doing SBA lending. Mr. Williams began his banking career in 1973 at Wachovia, where he worked with Wachovia Services, Inc, then Wachovia Regional Corporate Lending, calling on and lending to mid-market regional companies. In 1987, he relocated to Wilmington, North Carolina, where he managed the Wachovia Corporate Lending group for the three-county area of Southeastern North Carolina. In 1992, he re-joined Mr. Mahan at Cardinal Bancshares as they began Vine Street Financial, a niche SBA lending division of Vine Street Trust Company. Mr. Williams held several positions within this group including President and Senior SBA lender. Through a series of mergers/acquisitions, Vine Street Financial became a division of BB&T, where Mr. Williams served as a senior SBA lender, resigning in May of 2007 to found Live Oak Bank's predecessor. Mr. Williams currently serves on the Board of Trustees for Elon University. Mr. Williams graduated in 1973 from the University of North Carolina at Chapel Hill with a B.S. degree in Business Administration.