The board of directors of Powerbridge Technologies Co., Ltd. announced that effective from May 25, 2021, Mr. Wei Guan and Ms. Doreen Mak were appointed by the Board as independent directors. Mr. Guan was also appointed as the Chairman of the Audit Committee of the Board, a member of the Compensation Committee and a member of the Nominating and Corporate Governance Committee of the Board. Ms. Mak was also appointed as the Chairwoman of the Compensation Committee of the Board, a member of the Audit Committee and a member of the Nominating and Corporate Governance Committee of the Board. Mr. Guan has over 20 years of experience in corporate management. From 2017 to date, Mr. Guan serves as a financial adviser and provides financial advisory services to corporations in initial public offerings, private offerings, preferred shares issuances, rights offerings and other equity financing. From 1998 to 2006, Mr. Guan served as a department manager at Mando Corporation (Dalian) Co., Ltd., where he was in charge of the international trade business. From 1993 to 1998, Mr. Guan served as a team manager in Huatai Securities Co., Ltd. (Dalian branch) and worked on securities brokerage and investment bank transactions. Mr. Guan received a bachelor’s degree in Management from Dongbei University of Finance and Economics in 1993. Ms. Mak has over 11 years of experience in financial investment and management. From 2010 to date, she serves as the investment manager and senior investment analyst at a privately-owned investment company focusing on investment in the secondary market. From 2006 to 2010, she served as a finance and investment analyst in the aforesaid privately-owned investment company. Ms. Mak holds a bachelor’s degree in Commerce (Accounting and Finance) from the University of Melbourne, Australia. Mr. Guan and Ms. Mak do not have any related party transaction with the Company or its affiliates that is required to be disclosed pursuant to Item 404 of Regulation S-K.