Former CEO Cyril Wallace separation finalized; Neal Cohane named Interim CEO

REED'S, INC.

Cyril A. Wallace Jr. resigned as CEO and board member effective March 24, 2026; remains consultant through April 30, 2026.
Separation agreement includes $58,333 severance (1 month salary), $2,836 COBRA lump sum, and waiver of sign-on bonus/relocation repayment.
Additional cash payment of $36,336 (10,010 shares at $3.63) and restricted stock award of 36,657 shares under the 2020 Plan.
Exhibit signed by Neal Cohane as Interim Chief Executive Officer, indicating new interim leadership.

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