On August 31, 2022, Ms. Tuo Pan was terminated for cause as an employee and chief financial officer of Singularity Future Technology Ltd. and from any other position at any subsidiary of the company to which she has been appointed. Ms. Pan was terminated for cause in accordance with the terms of her Employment Agreement dated November 9, 2021 and will not receive any salary or benefits from the company except those earned through August 31, 2022.