Semper Paratus Acquisition Corporation on the Effective Date, in connection with the Agreement, (i) Richard N. Peretz, Hooman Yazhari, Paul P. Jebely, Brad Stewart, and Parizad Olver Parchi (the “Resigning Directors”) tendered their resignations as members of the board of directors of the Company (the “Board”), and Richard N. Peretz, Hooman Yazhari, Ben Baldanza, and Jeff Rogers resigned as officers of the Company, and (ii) Michael Peterson, Donald Fell, Avinaesh Wadhwani, Scott Sussman, and Surendra Ajjarapu were appointed as members of the Board. Surendra Ajjarapu was appointed as Chairman. Surendra Ajjarapu Mr. Ajjarapu has served as Chairman of the Board, Chief Executive Officer and Secretary of Trxade Group Inc., a Nevada corporation (predecessor of Trxade Health Inc. (NASDAQ:MEDS)) (“Trxade Nevada”) since January 8, 2014, and as the Chairman of the board of directors, Chief Executive Officer and Secretary of Trxade Nevada since its inception.

Since March 2021, Mr. Ajjarapu has served on the board of directors of Oceantech Acquisition I Corp, a special purpose acquisition company (NASDAQ: OTEC) (“OTEC”). Mr. Ajjarapu currently serves as a director of Ocean Biomedical Inc. and as Chairman of the board of directors of Kernel Group Holdings Inc., a special purpose acquisition company (NASDAQ: KRNL) (“KRNL”) (since December 2022). Mr. Ajjarapu was a Founder, CEO and Chairman of Sansur Renewable Energy Inc., a company involved in developing wind power sites in the Midwest, United States, from 2009 to 2012.

Mr. Ajjarapu was a Founder, President and Director of Aemetis Inc., a California-based global advanced biofuels and renewable commodity chemicals company (NASDAQ:AMTX) (“AMTX”), and a Founder, Chairman and Chief Executive Officer of International Biofuels, a subsidiary of AMTX, from 2006 to 2009. Mr. Ajjarapu was Co-Founder, COO, and Director Global Information Technology Inc., an IT outsourcing and systems design company, headquartered in Tampa, Florida with major operations in India from 1995 to 2006. Mr. Ajjarapu holds an MS in Environmental engineering from South Dakota State University in Brookings, South Dakota and an MBA from the University of South Florida, specializing in International Finance and Management.

Mr. Ajjarapu is also a graduate of the Venture Capital and Private Equity program at Harvard University. Michael Peterson Mr. Peterson commenced serving as an independent director of OTEC in March 2023 and began serving as an independent director of KRNL in December 2022. Mr. Peterson has been serving as President, Chief Executive Officer and as a member of the board of directors of Lafayette Energy Corp.

since April 2022. Beginning in September 2021, Mr. Peterson served as a member of the board of directors, audit committee (Chair), compensation committee and nominating and corporate governance committee of Aesther Healthcare Acquisition Corp., a special purpose acquisition company that consummated a business combination in February 2023. Mr. Peterson is currently serving as an independent director of OCEA.

Mr. Peterson has served as the president of Nevo Motors Inc. since December 2020, which was established to commercialize a range extender generator technology for the heavy-duty electric vehicle market but is currently non-operational. Since May 2022, Mr. Peterson has served as a member of the board of directors and as the chairperson of the audit committee of Trio Petroleum Corp., an oil and gas exploration and development company which is in the process of going public, since February 2021. Mr. Peterson has served on the board of directors and as the chairman of the audit committee of Indonesia Energy Corporation Limited (NYSE American: INDO).

Mr. Peterson previously served as the president of the Taipei Taiwan Mission of The Church of Jesus Christ of Latter-day Saints, in Taipei, Taiwan from June 2018 to June 2021. Mr. Peterson served as an independent member of the board of directors of Trxade Nevada (formerly Trxade Group Inc.) from August 2016 to May 2021. Mr. Peterson served as the Chief Executive Officer of PEDEVCO Corp.

from May 2016 to May 2018. Mr. Peterson served as Chief Financial Officer of PED between July 2012 and May 2016, and as Executive Vice President of PED's predecessor from July 2012 to October 2014, and as PED's President from October 2014 to May 2018. Mr. Peterson joined PED's predecessor as its Executive Vice President in September 2011, assumed the additional office of Chief Financial Officer in June 2012, and served as a member of its board of directors from July 2012 to September 2013.

Mr. Peterson formerly served as Interim President and CEO (from June 2009 to December 2011) and as director (from May 2008 to December 2011) of PED's predecessor, as a director (from May 2006 to July 2012) of AMTX, and as Chairman and Chief Executive Officer of Nevo Energy Inc. (NEVE) (formerly Solargen Energy Inc.), a Cupertino, California-based developer of utility-scale solar farms which he helped form in December 2008 (from December 2008 to July 2012). From 2005 to 2006, Mr. Peterson served as a managing partner of American Institutional Partners, a venture investment fund based in Salt Lake City. From 2000 to 2004, he served as a First Vice President at Merrill Lynch, where he helped establish a new private client services division to work exclusively with high-net-worth investors.

From September 1989 to January 2000, Mr. Peterson was employed by Goldman Sachs & Co. in a variety of positions and roles, including as a Vice President. Mr. Peterson received his MBA at the Marriott School of Management and a BS in statistics/computer science from Brigham Young University.