The RealReal settles derivative lawsuit; governance reforms and $500K fee award

TheRealReal, Inc.

Settlement resolves claims that IPO disclosures overstated authentication process; no admission of wrongdoing.
Company to adopt corporate governance reforms within 30 days of court's final order; reforms detailed in Exhibit A.
The RealReal will pay $500,000 for plaintiffs' attorneys' fees and expenses, subject to court approval.
Defendants deny all allegations; settlement reached after mediation with Hon. Layn R. Phillips (Ret.).
Notice to shareholders via press release, website posting, and SEC filing; final approval hearing scheduled.

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