ONFO · Onfolio Holdings, Inc.

Robert Lipstein’s resignation reflects a voluntary, governance-driven board refresh rather than operational or strategic discord. As a director, his role involved oversight of strategy, risk, and fiduciary duties — functions that remain intact pending any successor appointment. The stated reason — maintaining adherence to widely recognized board composition standards — signals commitment to governance best practices and may support investor confidence in the Company’s oversight framework. His explicit confirmation of no disagreements with management, the Board, or its committees mitigates concerns about internal friction or undisclosed disputes. The planned transition period through May 31, 2026 provides time for orderly handover of committee assignments or ongoing initiatives he oversaw. While the loss of an incumbent director introduces modest governance continuity risk, the absence of controversy, compensation disputes, or regulatory triggers reduces material impact. Investors should monitor whether the Board announces a replacement, particularly given the timing relative to upcoming shareholder meetings or committee renewals.