Aeries Technology, Inc.

Appointment of Bhisham (Ajay) Khare as Chief Executive Officer and Director

On February 10, 2025, the Company’s Board of Directors (the “Board”) appointed Mr. Bhisham (Ajay) Khare as Chief Executive Officer, effective immediately, succeeding his roles as Chief Revenue Officer & Chief Operating Officer – Americas of the Company. The Board also appointed Mr. Khare to serve as a Class II Director, for an initial term which will end at the Company’s second annual meeting of shareholders to be held following the consummation of its de-SPAC transaction in November 2023.

Mr. Khare, 48, has served as Chief Revenue Officer and Chief Operating Officer for the Americas division of the Company since the consummation of the Company’s de-SPAC transaction in November 2023, and as a part of the Aeries Group since 2015. Mr. Khare is responsible for our US operations including client management, business development, front-end communication, transition and business operations. He also works closely with private equities and their portfolio companies in defining global delivery solutions & strategies.

Mr. Khare is a successful executive with experience in business operations, strategic planning, & client relationship. He has a diverse background with deep knowledge of all aspects of the life cycle of organizations including start-up, funding, early-stage planning, implementation, mergers and acquisitions, private equity driven deals and integrations.

Mr. Khare’s past experience includes founding WhiteSpace Health, a startup with focus on healthcare data analytics and business intelligence. From 2012 until 2015, he was the Vice President of Strategic Operations for M*Modal, a healthcare technology company, and was instrumental in new product launch for revenue cycle management, profit and loss for clinical documentation business with $250 million revenue, and managing cost initiative for delivery organization. From 2007 until 2012, Mr. Khare managed worldwide operations for CBay systems and was part of the team that acquired MedQuist & Spheris in private equity funded deals.

There are no arrangements or understandings between Mr. Khare and any other person pursuant to which he was appointed Chief Executive Officer or Class II Director. Additionally, there are no family relationships between Mr. Khare and any of the Company’s other directors or executive officers, and there are no related party transactions between Mr. Khare and the Company that require disclosure under Item 404(a) of Regulation S-K except for the Exchange Agreement disclosed in Note 8 – Related Party Transactions of the condensed consolidated financial statements as of December 31, 2024, included elsewhere in this report.

Resignation of Daniel S. Webb as Director and Appointment as Chief Financial Officer

On February 10, 2025, Mr. Daniel S. Webb resigned from his position as a director, effective immediately. His resignation was not due to any disagreement with the Company on matters related to its operations, policies, or practices.

On the same date, the Board appointed Mr. Webb as Chief Financial Officer, effective immediately, in addition to his current role as Chief Investment Officer of the Company.

Mr. Webb, 40, has served as Chief Investment Officer and a director of the Company since the consummation of the Company’s de-SPAC transaction in November 2023. From March 2021 to November 2023, he served as the Chief Executive Officer, Chief Financial Officer and a director of WWAC. From August 2017 to March 2021, Mr. Webb was an investment banker at Bank of America. From March 2013 to August 2017 and from March 2010 to June 2012, he served as an investment banker at Citi. From June 2012 to March 2013 he served as a private equity investor at HarbourVest Partners. As an investment banker and private equity investor, Mr. Webb worked on transactions totaling approximately $40 billion in transaction value for disruptive Internet companies. In his career as an investment banker at Bank of America and Citi, he advised leading technology companies on their initial public offerings such as Snap, Carvana, Pinterest, Delivery Hero, Arista Networks, Freescale Semiconductor, Fiverr, Grubhub, Cardlytics, Revolve, SurveyMonkey, Zulily, and Trivago. He also helped raise public and private capital for leading technology companies such as Microsoft, Pinterest, Costar, Thrasio, Fiverr, Fanatics, Grubhub, Cardlytics, Overstock, MakeMyTrip, Purple, GSV Capital, Paytm, Integral Ad Science, and Thrillist. In addition, he advised on one of the largest Internet acquisitions in history, Just Eat Takeaway’s acquisition of Grubhub as well as other transactions such as Credit Karma’s sale to Intuit, Cardlytics’ acquisition of Dosh, Bonobos’ sale to Walmart, Reachlocal’s sale to Gannett, and Aristocrat Leisure’s acquisition of Plarium. Mr. Webb previously worked in private equity at HarbourVest Partners where he directed investments in Lightower Fiber Networks, Sidera Networks, and Confie Seguros. Mr. Webb holds a Master of Accountancy and Bachelor of Science in Accounting from Brigham Young University.

There are no arrangements or understandings between Mr. Webb and any other person pursuant to which he was appointed Chief Financial Officer. Additionally, there are no family relationships between Mr. Webb and any of the Company’s other directors or executive officers, and there are no related party transactions between Mr. Webb and the Company that require disclosure under Item 404(a) of Regulation S-K.

Resignation of Sudhir Appukuttan Panikassery as Chief Executive Officer and Appointment as Non-Executive Vice Chairman of the Board

On February 10, 2025, Mr. Sudhir Appukuttan Panikassery resigned from his position as Chief Executive Officer and from all other officer positions he held in the Company, effective immediately. Following his resignation, the Board appointed Mr. Panikassery as Non-Executive Vice Chairman of the Board.

During the quarter ended December 31, 2024, none of our directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, or the Exchange Act)adopted, modified orterminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement (as such terms are defined under Item 408 of Regulation S-K).