On March 20, 2023, Shuhei Komatsu resigned from his position as Chief Executive Officer of AERWINS Technologies Inc., a Delaware corporation's. Mr. Komatsu previously served as the Company's Chief Executive Officer and a Director and Chairman of the Company since February 3, 2023. Mr. Komatsu's resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. On March 20, 2023, the Company's Board of Directors appointed Taiji Ito to serve as Chief Executive Officer of the Company.

Mr. Ito also serves as the Company's Global Markets Executive Officer and as a Director of the Company, and has served in such capacities since his appointment to those positions on February 3, 2023. Mr. Ito, age 46, has served as the Global Markets - Investor Relations and a member of the Board of Directors of the Company's wholly owned subsidiary, AERWINS Inc. since June 15, 2022. Mr. Ito is also a member of the Board of Directors of AERWINS Inc.'s wholly owned subsidiary A. L. I. Technologies Inc. (A.L.I.") since April 2022.

From August 2008 to April 2022, Mr. Ito served as a founder and CEO at Meta Capital. From May 2002 to July 2008, Mr. Ito served as Vice President and thereafter Director at Credit Suisse in Japan and the United States. From April 1999 to 2002, Mr. Ito served as Associate at Deutsche Bank in Tokyo.

Mr. Ito has extensive experience in the financial field. Mr. Ito graduated with a bachelor's degree in Economics from Keio University, Japan. Mr. Ito has not previously held any directorships in any reporting companies.