On February 1, 2023, Tsukasa Ojima, a Class II director, notified Boxed, Inc. of his resignation from the Company's Board of Directors (the “Board”), effective immediately. Mr. Ojima informed the Company that his decision is based on his need to focus on his full-time role as Executive Officer, Business Development and Branding at AEON Co. Ltd, (“Aeon”), an investor and partner of the Company, and in consideration of any potential conflicts of interest which could arise between the Company and Aeon.

Mr. Ojima's resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. The Company and the Board extend their appreciation to Mr. Ojima for his contributions and service on the Board.