On May 17, 2024, Mr. Xiaoyun Huang tendered his resignation as the Chairman of the board of directors of Nisun International Enterprise Development Group Co. Ltd. (the ?Company?) due to personal reasons. Mr. Huang?s resignation was not the result of any disagreements with the Company, its management or the Board.

Effective May 22, 2024, the Board elected Mr. Jinbao Li, a member of the Board, to serve as the Chairman of the Board. Jinbao Li has served as a member of the Board since September 2020. Since April 2016, Mr. Li has been the Chief Executive Officer of Shanghai Luyao Financial Consulting Co.

Ltd. (?Luyao Shanghai,? formerly, Shanghai Nami Financial Consulting Co. Ltd.), a consolidated variable interest entity of the Company.

As the CEO of Luyao Shanghai, he oversees and is responsible for all aspects of business operations, financial results and development of Luyao Shanghai. From July 2014 to April 2016, he had served as the general manager of Shandong branch of Huizhong Business Consulting (Beijing) Co. Ltd. Mr. Li received an associate degree in Marketing in 2008 from Shandong University of Technology.