On December 12, 2023, the board of directors (the ?Board?) of Aerwins Technology Inc. (the ?Company?) appointed Kiran Sidhu as the Company?s Chief Executive Officer (?CEO) to lead the Company transition of the development of its single-seat optionally manned air vehicle and operations to the U.S. from Japan. Mr. Sidhu?s appointment follows the resignation of Taiji Ito as the Company?s Chief Executive Officer. Mr. Ito?s resignation is not the result of any dispute or disagreement with the Company on any matter relating to the operations, policies or practices of the Company.

Mr. Ito will retain his position as a director of the Company.