As previously announced, on February 24, 2023, Oxbridge Acquisition Corp. (?Oxbridge?) entered into a Business Combination Agreement and Plan of Reorganization (the ?Business Combination Agreement?) by and among Oxbridge, OXAC Merger Sub I Inc., a direct, wholly owned subsidiary of Oxbridge (?First Merger Sub?), Summerlin Aviation LLC (f/k/a OXAC Merger Sub II, LLC), a direct, wholly owned subsidiary of Oxbridge (?Second Merger Sub??), and Jet Token Inc. Pursuant to the Business Combination Agreement, among other things, Oxbridge will domesticate as a Delaware corporation and change its name to ?Jet.AI Inc.? (?Jet.AI?) in connection with the domestication, First Merger Sub will merge with and into Jet Token (the ?First Merger?), with Jet Token surviving the merger as a wholly owned subsidiary of Jet.AI, and Jet Token (as the surviving entity of the First Merger) will merge with and into Second Merger Sub (the ?Second Merger?

and, together with the Domestication, the First Merger, and all other transactions contemplated by the Business Combination Agreement, the ?Business Combination?), with Second Merger Sub surviving the merger as a wholly owned subsidiary of Jet.AI. Effective upon the closing of the Business Combination, George Murnane will serve as Jet.AI?s interim Chief Financial Officer (?CFO?) until Jet.AI completes its ongoing search for a long-term CFO. Mr. Murnane will transition from Jet.AI?s interim CFO to its CEO.

George Murnane has served as Jet Token?s Chief Executive Officer since September 2019. Mr. Murnane has over 28 years of senior executive experience, including 25 years as a Chief Operating Officer and/or Chief Financial Officer in the air transportation and aircraft industry, including as Chief Executive Officer for ImperialJet S.a.l from 2013 to 2019, Chief Operating Officer and Acting Chief Financial Officer of VistaJet Holdings, S.A. in 2008, Chief Financial Officer of Mesa Air Group from 2002 to 2007, Chief Operating Officer and Chief Financial Officer of North-South Airways from 2000 to 2002, Executive Vice President, Chief Operating Officer and Chief Financial Officer of International Airline Support Group from 1996 to 2002 and Executive Vice President and Chief Operating Officer of Atlas Air Inc. from 1995 to 1996. From 2009 until he joined Jet Token, Mr. Murnane was a managing partner of Barlow Partners.

In addition, Mr. Murnane was a senior banker for Merril Lynch & Co. from 1986 to 1985 where he banked the transportation industry. Mr. Murnane has a CPA and received an MBA from The Wharton School of the University of Pennsylvania and a BA in Economics from the University of Pennsylvania in 1980.