On August 21, 2023, Movella Holdings Inc. and Boele de Bie, Chief Operating Officer, agreed that Mr. de Bie will step down from his position as Chief Operating Officer effective August 21, 2023. Mr. de Bie, who is stepping down to pursue other opportunities, will continue to serve as an advisor to the Company through October 31, 2023, in order to facilitate an orderly transition of his duties as Chief Operating Officer to several executive team members. The Termination Agreement with Mr. de Bie provides for the final discharge of any claims by Mr. de Bie in favor of the Company, a severance payment to Mr. de Bie of ?47,966.46, and the right for Mr. de Bie to exercise vested Company stock options through six months following termination.

A copy of the Termination Agreement will be filed with the Company's next quarterly report on Form 10-Q.