On July 13, 2023, upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors of SmartKem, Inc. the Board approved, effective immediately, an increase in the size of the Board from four directors to five directors and appointed Sriram Peruvemba, age 58, to serve as a Class II director to fill the newly-created vacancy. Mr. Peruvemba will hold this position until the 2023 annual meeting of the Company?s stockholders or until his successor is elected and qualified, subject to his earlier resignation or removal. From September 2019 until his appointment to the Board, Mr. Peruvemba served as a consultant to the Company.

Since July 2014, he has served as the chief executive officer of Marketer International Inc., a consulting services firm specializing in the global high-tech industry. Prior to that, from December 2009 to April 2013, Mr. Peruvemba was the chief marketing officer for E Ink Holdings, a company specializing in electronic paper displays. Since June 2020, Mr. Peruvemba has served on the board of directors of WiSA Technologies, Inc. an audio wireless technology company.

He has also served as a board member of Visionect d.o.o, an electronics company in Slovenia since September 2017. Mr. Peruvemba has also served as chairman of the board of Omniply, a Montreal-based electronics and display company, since May 2020 and as board member of Edgehog Advanced Technologies an anti-reflective technology company in Canada, since January 2023. Mr. Peruvemba has a B.S. from R. V. College of Engineering, Bangalore, an M.B.A. from Barton School of Business, WSU and a post-graduate diploma in management from Indira Gandhi National University.

Mr. Peruvemba will be compensated in accordance with the Company?s standard non-employee director compensation plan.