On July 15, 2022, the Board of Directors of Telkonet, Inc. appointed Edward L. Helvey to the Board of Directors of the Company effective August 1, 2022. Mr. Helvey will stand for re-election at the 2023 annual meeting of stockholders. Mr. Helvey was nominated as a candidate for the Company's Board of Directors by the Nominating Committee after being recommended for nomination by VDA Group S.p.A. VDA recommended Mr. Helvey in connection with a loan agreement between VDA, VDA Holding S.A. and Nomadix Holdings, LLC (“Nomadix”), of which Mr. Helvey is Manager.

Under the terms of the loan agreement, VDA agreed to use its best efforts to support the candidacy of a representative of Nomadix for a seat on the Company's Board of Directors. Nomadix selected Mr. Helvey as its representative. Edward L. Helvey is a principal in Gate Worldwide Holdings and serves as chairman for its portfolio of companies including Nomadix, interTouch and GlobalReach Technology.

Prior to Gate Worldwide Holdings, Mr. Helvey served as the CEO of iBAHN, a global provider of hospitality technology services to some of the hotel industry's leading global brands, including Hilton, Hyatt and Marriott.