Reed's, Inc. announced that Joann Tinnelly, current Vice President and Corporate Controller of Reed's, was appointed by the Board of Directors to the position of Interim Chief Financial Officer, effective March 31, 2023. On March 7, 2023, Reed's announced the resignation of Tom Spisak from the role of Chief Financial Officer, effective March 30, 2023. Mr. Spisak's resignation was not due to any disagreement with the Company on any matter, including matters related to the Company's operations, policies, practices, financial reporting or controls.

Ms. Tinnelly is a Certified Public Accountant. She previously assumed the position of Interim Chief Financial Officer at the end of 2019 and is well positioned to again assume the role until a permanent replacement is appointed. Ms. Tinnelly has more than 30 years of finance and accounting experience in global public and private equity company environments.