Remitly Global Inc

Rule 10b5-1 and Non-Rule 10b5-1 Trading Arrangements

On March 12, 2024, Rene Yoakum, our EVP, Customer and Culture, adopted a trading plan intended to satisfy the conditions under Rule 10b5-1 of the Exchange Act. Ms. Yoakum’s plan is for the sale of up to 180,000 shares of our common stock and terminates on the earlier of the date all the shares under the plan are sold and June 30, 2025.

On March 15, 2024, Hemanth Munipalli, our Chief Financial Officer, adopted a trading plan intended to satisfy the conditions under Rule 10b5-1 of the Exchange Act. Mr. Munipalli’s plan is for the sale of up to 110,000 shares of our common stock, the actual amount of which may be less based on tax withholdings of RSUs, and terminates on the earlier of the date all the shares under the plan are sold and June 30, 2025.

Litigation

On February 29, 2024, Plaintiff James O’Connor (“Plaintiff”), on behalf of himself and all similarly situated stockholders of Remitly Global, Inc. (“Remitly”), filed a putative class action complaint styled James O’Connor v. Ryno Blignaut, et al., 2024-0190-PAF (Del. Ch.) (the “Action”), against Remitly and its directors (collectively, “Defendants”) alleging breaches of fiduciary duty in connection with the approval, adoption, and maintenance of certain provisions in Remitly’s Restated Bylaws, effective September 27, 2021 (the “Bylaws”). Remitly and the director defendants do not believe the Bylaws required amendment under applicable law and deny that any breach of fiduciary duties or other wrongful conduct occurred, and solely to avoid the costs, distractions, and uncertainties inherent in litigation, on March 19, 2024, amended the Bylaws, which mooted Plaintiff’s claims. On March 25, 2024, the Court entered an Order dismissing the Action with prejudice as to Plaintiff and without prejudice as to any actual or potential claims of any other members of the putative class, retaining jurisdiction solely for the purpose of determining Plaintiff’s counsel’s application for attorneys’ fees and reimbursement of expenses (the “Fee Application”). To avoid the time and expense of continued litigation, the parties agreed to resolve the Fee Application in exchange for a payment by Remitly of $465,000 to Plaintiff’s counsel.