This letter is in regard to the election of directors of this Bank to succeed Ms. Simone Lagomarsino (who is eligible for re-election), a Class A director, elected by banks in Group Two, and Mr. Sanford M. Michelman, a Class B director, elected by banks in Group One, both of whose terms end on December 31, 2022. These elections have been duly held in accordance with the requirements of Section 4 of the Federal Reserve Act and the provisions of the circulars issued by this office dated July 20 and September 1, 2022.