On 6 September 2013, the Lithium Technology Corp. at its board of directors meeting, considered the resignations tendered by directors Clemens van Nispen and Rien Nuijt. Mssrs.

van Nispen and Nuijt, representatives of Arch Hill Capital N.V. and certain of its affiliates had become directors of the company in late 2012 on an interim basis to assist in a smooth leadership transition concurrent with the conversion by the Arch Hill Parties of substantially all of the company's debt owed to the Arch Hill Parties into equity (as a result of which the Arch Hill Parties held approximately 57% of the outstanding equity of the Registrant), and the Arch Hill Parties' subsequent sale of that interest in the company to VRDT Corporation. The transactions resulted in VRDT Corporation, through its wholly-owned subsidiary, becoming the majority shareholder of the company. In connection with the advancement of the company's continuing commercialization efforts since the Arch Hill Parties' disposition of their shares in the Registrant, the Board, collectively, and Mssrs.

Van Nispen and Nuijt, individually, determined that the timing was appropriate for them each to resign their positions on the Board and facilitate the possible appointment of new directors by the remaining directors or the company's stockholders. As a result of the resignations of the two directors, the Board now consists of Graham Norton-Standen, Martin Koster and William Armstrong.