On March 27, 2023, Enterprise 4.0 Technology Acquisition Corp. received the resignations of all of the member of the Company's Board of Directors: Sudhakar Ramakrishna, Mona Sabet, Eric Benhamou, Christopher Paisley, Kim Le and Judith Sim, and resignations of Ron Sege as the Chief Operating Officer of the Company and Yashwanth Hemaraj as the Chief Acquisition Officer of the Company. To the knowledge of the Company, the resignations were not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Following the Company's receipt of the resignations referred to above, on March 28, 2023, the Company held an extraordinary general meeting (EGM) of the holder of its Class B ordinary shares in order to elect new Class I directors to serve until the Company's initial annual general meeting. At the EGM, Alex Vieux and Steven Fletcher were each elected as a Class I director of the Company. Prior to an initial business combination, only holders of Class B ordinary shares have the right to vote on the election of directors.

Alex Vieux, age 65, is the Chairman and co-founder of Explorer Acquisitions, a serial special purpose acquisition companies (SPACs) sponsor (Explorer), Chairman and publisher of Red Herring, a magazine on information technology and business, and Chief Executive Officer of Herring International, a Belgian corporation. Over the last 35 years, he has worked with and engaged C-suite executives from five continents, scouting disruptive companies later embraced by the markets. Mr. Vieux started his career at Arthur Andersen LLP (now Accenture plc).

Then he co-founded two technology companies, CATS Software Inc. and Renaissance Software, both fintech startups that either went public or were sold in the 1990s. He also founded The European Technology Roundtable Exhibition, a yearly forum assembling technology world leaders. He was elected on the board of directors of Tandem Computers Inc., Computer Associates, Check Point Software Technologies Ltd., Commerce One Inc. and Qualys Inc. as well as dozens of private companies.

Mr. Vieux served as an advisor to Cerberus Telecom Acquisition Corp. (CTAC) and Apex Technology Acquisition Corp. (APXT) prior to their respective initial business combinations.

Mr. Vieux serves as an advisor to the Company and BioPlus Acquisition Corp. (BIOS). A graduate of the Institute d'Etudes Politiques and the French business school HEC, Mr. Vieux also holds a law degree from the Universite de Paris and an M.B.A. from Stanford University, where he was a Fulbright Scholar.

Mr. Vieux is well qualified to serve on the Board of Directors due to his extensive experience in public companies, SPACs and business combinations. Steven Fletcher, age 55, is the Chief Executive Officer and co-founder of Explorer. Mr. Fletcher serves as an advisor to the Company and BIOS.

He serves on the board of directors of Lee Enterprises. He served as an advisor to CTAC and APXT prior to their respective initial business combinations. He served from 2013 to August 2022 as an independent director of atVenu, a leading live event commerce platform, where he was a member of the Audit and Compensation Committees, and as an independent director of Life Signals Inc. a healthcare technology company since November 2021.

From 2003 to May 2018, Mr. Fletcher was a Managing Director, Co-Head of the Digital Media Group and Head of the Software Group at GCA Savvian, a global investment bank. He was also a member of the firm's Management Committee. From 1994 until 2002, Mr. Fletcher worked at Goldman, Sachs & Co., where he held a number of leadership roles including Head of the Private Placement Group, Head of the IT Services sector and Co-Head of the Hardware, Storage, EMS, and Internet Infrastructure sectors.

He began his career at Deloitte & Touche as a CPA. He holds a B.A. in Economics from UCLA and an M.B.A. in Finance from The Wharton School of the University of Pennsylvania. Mr. Fletcher is well qualified to serve on the Board of Directors due to his extensive experience in public companies, SPACs and business combinations.

Messrs. Vieux and Fletcher have advised the Company that they expect to resign from such positions upon their identification and appointment of new directors and executive officers of the Company.