On January 18, 2021, Mr. Zhihao Xu resigned from his position as a member of the Board of Directors and all of his positions from the Board committees of Luokung Technology Corp. (the "Company"). Mr. Xu's resignation did not result from any disagreement with the Company. On January 21, 2021, Ms. Yang Zhou was appointed as a new member of the Board, Chairwoman of the Audit Committee, a member of the Copmensation Committee and the Nominating and Corporate Governance Committee of the Board to fill in the vacancy created by Mr. Xu's resignation, effective immediately. Ms. Yang Zhou, aged 35, has been the Managing Director of Tongxi Asset Management Co. Ltd. since September 2019.