On January 2, 2023, Timothy R. Oakes, the Chief Financial Officer of Agrify Corporation (the “Company”), notified the Company that he will resign as Chief Financial Officer effective as of February 28, 2023 (the “Effective Date”) to pursue other opportunities. Mr. Oakes' resignation did not result from any disagreement regarding the Company's operations, policies or practices. The Company has begun a search process to identify a replacement Chief Financial Officer, and Mr. Oakes will assist with the resulting transition ahead of the Effective Date.