CarLotz, Inc. announce that, effective as of July 1, 2022, it has appointed Nanxi Liu as a director to the Board of Directors of CarLotz. Nanxi Liu currently serves as Co-CEO of Blaze Technology, Inc., a unique platform enabling companies to develop software applications with no-code/low-code which she co-founded in 2022, and as CFO of Nanoly Bioscience, Inc., a healthcare company developing technology to eliminate refrigeration for vaccines and protein therapeutics which she co-founded in 2011. Previously, she was CEO and co-founder of Enplug, Inc., a leading digital signage software company.

Liu also serves on the Board of Directors of CarParts.com and on the Board of Advisors to Covington Capital Management. She was previously on the Board of Directors for the California New Motor Vehicle Board, Department of Motor Vehicles in Sacramento, CA, from 2019 to 2021. In addition, the Company announced that Sarah Kauss has resigned from the Board.

The resignation was not due to any disagreement with the Company on any matter relating to the Company's operations, strategy, policies, or practices.