On March 2, 2021, the Board of Directors (the “Board”) of KULR Technology Group, Inc., a Delaware corporation (the “Company”), appointed Morio Kurosaki as a director on the Board, to hold office until the earlier of the expiration of the term of office of the director whom she has replaced, a successor is duly elected and qualified, or the earlier of such director’s death, resignation, disqualification, or removal. Mr. Kurosaki’s appointment is contingent upon the Company’s common stock being approved for uplisting to a national exchange. Furthermore, Mr. Kurosaki will receive quarterly cash compensation equal to $10,000 and was granted 20,000 shares of restricted common stock, which shares shall vest quarterly in 5,000 share installments with the first installment vesting immediately upon approval for uplisting to a national exchange.

Mr. Kurosaki, 65, is an experienced venture capital veteran, is the founder and President of IT-Farm Corporation in Japan, led early investments in notable companies such as Zoom Video Communications (Nasdaq: ZM); ContextLogic (Nasdaq: WISH); Treasure Data, acquired by ARM Holdings (Nasdaq: NVDA); Tubi, acquired by Fox Corporation (Nasdaq: FOX); Red Hot Labs, acquired by Google (Nasdaq: GOOGL); lvl5, acquired by DoorDash (NYSE: DASH); Accel Technology, acquired by Marvell Technology Group (Nasdaq: MRVL), and Extreme DA, acquired by Synopsis (Nasdaq: SNPS). Mr. Kurosaki has also served as Asia-Pacific advisory member of ARM Holdings, acquired by SoftBank Group Corporation (OTCMKTS: SFTBY). Mr. Kurosaki started his business career at Intel Japan, thereafter joining Western Digital Corporation (Nasdaq: WDC) as one of the earliest members of WDC’s Japanese division. In 1988, he founded Aisys Corporation, a firm helping Silicon Valley start-ups gain exposure to the Japanese markets. In 1999, he founded IT-Farm Corporation as one of a few hands-on style venture capital firms in Japan. Mr. Kurosaki is based in Japan and has international experience working with partners in Japan and in the Asia-Pacific region. Mr. Kurosaki will serve as Chair of the Audit Committee, and will serve as a member on the Compensation Committee and Nominating and Governance Committee.

No arrangement or understanding exists between Mr. Kurosaki and any other persons pursuant to which she was elected as a director of the Company. Mr. Kurosaki has not engaged in any transaction, since January 1, 2020, or any currently proposed transaction, in which the Company was or is to be a participant and the amount involved exceeds $120,000, and in which any related person had or will have a direct or indirect material interest.