On March 2, 2023, BioVie Inc. (the “Company”) accepted the resignation of Terren S. Peizer, Chairman of the Board of Directors of the Company (the “Board”), effective immediately, after learning that Mr. Peizer has been separately charged by the Department of Justice and the Securities and Exchange Commission with alleged insider trading of the stock of an unrelated company, Ontrak Inc. Mr. Peizer's decision to resign is not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. The Board has elected Jim Lang, a current director of the Company, to serve as the new Chairman of the Board, effectively immediately.