As previously disclosed in those Current Reports on Form 8-K filed by One Stop System, Inc. with the Securities and Exchange Commission on February 9, 2023 and April 7, 2023, David Raun, the company's current Chief Executive Officer will be stepping down, effective upon the appointment of his successor. On May 16, 2023, the company entered into an employment agreement with Michael Knowles, pursuant to which, effective June 5, 2023 (the Effective Date"), Mr. Knowles will begin serving as Chief Executive Officer of the company. Mr. Knowles, 56 years of age, has more than three decades of leadership experience in global aerospace and defense markets, having led successful business captures resulting in billion-dollar program and product portfolios.

Mr. Knowles has served as Vice President and General Manager of C5ISR Systems at Curtiss Wright Defense Solutions since October 2022. Prior to that, from May 2014 to October 2022, Mr. Knowles worked at Cubic Corporation (Cubic"), where he served in various roles, culminating in his roles as a Senior Vice President of Cubic and President of Cubic's Mission and Performance Solutions business, in which role he led a $700 million global business unit with 2,000 employees. While at Cubic, his hardware, software and solutions portfolios included rugged networking/computing at the edge, secure and expeditionary communications, intelligence processing, assessment distribution from enterprise-to-edge, high frequency/low size, weight, and power RF components for electronic warfare, space, 5G applications, and live, virtual, and constructive multi-domain training systems. Before Cubic, Mr. Knowles worked at Rockwell Collins from 2004 to 2014 and at Lockheed Martin from 1998 to 2003, both of which are well recognized defense contractors.

Prior to that, Mr. Knowles served in the United States Navy for eight years, where he retired as a Commander. He received a BS in Aerospace Engineering from the United States Naval Academy, an MS in Aerospace Engineering from the Naval Postgraduate School, and an MBA from George Mason University.