Energy Focus, Inc. announced on June 28, 2023, the company received notices of resignation from the following four members of the Board: Jennifer Cheng, Brian Lagarto, Jeffery Parker, and Stephen Socolof. Their terms as directors would have otherwise expired at the 2024 annual meeting of stockholders of the Company. On July 2, 2023, the remaining members of the Board unanimously appointed the following four new members to the Board: Kin-Fu Chen, Dr. Shou-Jang Lee, Jason Tien-Chia Tsai, and Dr. Chao-Jen Huang.

The Board affirmatively determined that, at the time of his appointment, each of the new members of the Board is an independent director under the corporate governance standards of the Nasdaq. Kin-Fu Chen, age 59, has founded and managed successful real estate and investment companies, including Yun Fu Yu Co. Ltd., which he has been President of since 2008.

Mr. Chen has also established and operated multiple industrial companies and tourism hotels, demonstrating strong leadership, financial acumen, and strategic decision-making skills. He served as a board member for Taiwan's largest private school. Mr. Chen contributed to strategic planning, governance, and policy development, and collaborated with fellow board members to ensure the school's growth and success.

In working with the Taiwanese government, Mr. Chen has assisted in legislative affairs, including drafting bills, conducting research, and acted as a contact point between the Taiwanese government and the U.S. Congress. He is experienced in facilitating communication and collaborations between legislators and stakeholders. Mr. Chen holds a Master of Diplomacy from National Chengchi University.

Mr. Chen was not appointed to any Board committees at this time. Dr. Shou-Jang Lee, age 59, is a published author and contributor to prominent publications in the field of finance and economics. Dr. Lee previously served as a board member of CPE Co., a fuel storage and transporting company, affiliate with the China Petroleum CPC Corporation, Taiwan.

He has held key positions in public administration including serving as the General Director of Planning Department within the Yilan County Government, and Secretary to the County Mayor of Yilan County. He is an accomplished financial journalist with expertise in economic and political news coverage and he is recognized as a member of Taiwan's prestigious national think tank. His leadership and management in public administration has expanded the business and gross income for tourism, manufacturing plants, and agriculture for Yilan county.

He is also one of the key persons for developing the newly established Yilan Science Park, while also serving as a trusted advisor to high-ranking government officials and executives in the energy industry. Mr. Lee holds a Ph.D. in Economic Policy from National Chengchi University. Dr. Lee was not appointed to any Board committees at this time.

Jason Tien-Chia Tsai, age 51, is currently Principal of JC Partners Financial Advisory Corporation, a leading financial advisory firm. From 2013 to 2014, Mr. Tsai was the Assistant Manager of Taipei Exchange Corporate Strategy Department, Taiwan Land Development, responsible for banking financing and capital market operations. In 2010, he served at Kontron as a Board Director.

From 2009 to 2012, Mr. Tsai served as Deputy General Manager, Financial Advisory Division at Jingshan Securities Hong Kong, managing financial advisory services in Taiwan. From 2004 to 2009, Mr. Tsai served as Chief Financial Officer of Yea Shin Development, a listed company, overseeing financial management and operations. From 1998 to 2003, he served as Examiner of Deloitte, Over-The-Counter Securities Exchange, responsible for reviewing and evaluating listing applications.

Mr. Tsai has over 20 years of professional experience in the fields of finance, securities, and financial management. Mr. Tsai received his Bachelor of Accounting from National Chengchi University and his Master of Finance and Banking from Ming Chuan University. Mr. Tsai was appointed to chair the Audit and Finance Committee of the Board.

Dr. Chao-Jen Huang is currently Director of Virtual Integrated Business Center, Policy & Economic Alliance Caring of Earth (PEACE) for establishing international collaboration platforms for global resilience and sustainability. From 2013 to 2021, Dr. Huang acted as the director general and distinguished research fellow of Commerce Development Research Institute in Taiwan. In January 2008, Dr. Huang was promoted to director general of the Taiwan Institute of Economic Research and continued to promote economic affairs and cooperation for public and private sectors where he remained until 2011.

In February 2005, he became deputy director of the Institute, primarily responsible for Taiwan free trade agreement study, national southbound policy, cross-strait economic cooperation, and Taiwan-Central America comprehensive economic cooperation. From July 1998 to January 2005, Dr. Huang worked as an associate research fellow at the Taiwan Institute of Economic Research, in charge of Taiwan free trade agreement study, national southbound policy and establishing regular economic forums between Taiwan and other nations. From January 1991 to July 1992, Dr. Huang served as senior staff at the Ministry of Foreign Affairs of Taiwan, where he was responsible for Taiwan-United States diplomatic and business exchanges, and economic and trade negotiations and affairs.

Dr. Huang was appointed to chair the Nominating and Corporate Governance Committee of the Board. Following the resignations and new appointments, the Board also made the following committee assignments: Nominating and Corporate Governance Committee: Kaj den Daas, Wen-Jeng Chang, Gina Huang and Dr. Chao-Jen Huang (Chair). Compensation Committee: Kaj den Daas, Gina Huang and Wen-Jeng Chang (Chair).

Audit and Finance Committee: Kaj den Daas, Wen-Jeng Chang and Jason Tien-Chia Tsai (Chair).