NWTN Inc. announced that following the effectiveness of the Charter Amendment and Board Size Change, the Board appointed Mr. Aaron Huainan Liao and Mr. Mohamed Hesham as directors of the Company, effective immediately. Mr. Aaron Huainan Liao, age 46, has been the Vice Chairman & Executive Global President of the Company, who reports to Mr. Alan Nan Wu, Chief Executive Officer, Executive Director and Chairman of the Company, since February 2023. Mr. Liao has been the Chief Executive Officer of Shanghai OBS Culture and Technology Co.

Ltd., a digital lifestyle service provider of which the Company owns a 20% equity interest, since July 2021. From May 2017 to May 2021, Mr. Liao served as the Managing Director of Youku Animation at Alibaba Media Entertainment Group. Form April 2012 to May 2017, he was the Founder and Chief Executive officer of Ample Ideas Picture, a film and television production company.

From April 2007 to 2012, he was the Director of Online Entertainment Content at Phoenix TV, a Hong Kong-based television broadcaster. Mr. Liao received his Bachelor of Arts degree in Computer Arts from Academy of Art University and a Bachelor's degree in Computer Science from University of Maryland. Mr. Liao is well qualified to serve on the Board due to his extensive corporate management experience.

Mr. Mohamed Hesham, age 36, has been the Head of Investment Banking at Chimera Investments LLC, a private investment firm, since June 2021. From November 2015 to June 2021, he was the Director, Investment Banking of SHUAA Capital PSC, an asset management and investment banking company. From November 2012 to November 2015, Mr. Hesham was the Senior Associate, Investment Banking of Beltone Financial Holding, a regional investment bank based in Cairo, Egypt.

From December 2009 to November 2012, he was a Senior Analyst, Investment Banking of ENMAA Financial Services, a boutique investment bank, based in Egypt. Mr. Hesham received his Bachelor of Business Administration in Modern Sciences and Arts from Middlesex University. Mr. Hesham is well qualified to serve on the Board due to his extensive financial and investment banking experience.