Agrify Corporation (‘Agrify' or the ‘Company') announced a number of leadership changes to further support the Company's growth initiatives. Max Holtzman, who currently serves as Operations Director at Ocean 14 Capital, and who previously served as the Senior Advisor to the United States Secretary of Agriculture, has been appointed to Agrify's Board of Directors as an Independent Director. Stuart Wilcox, who is the former Chief Operating Officer of Curaleaf, and who, prior to this announcement, served as an Independent Director on Agrify's Board of Directors and Chair of the Nominating and Corporate Governance Committee, has been named the Company's Chief Operating Officer.

Mr. Wilcox stepped down from the Agrify Board as a Director concurrently with his appointment as Chief Operating Officer. Chris Benyo, who joined Agrify in January 2022 and most recently served as Senior Vice President and General Manager for Agrify's Extraction Division, has been promoted to the newly created role of Chief Revenue Officer in which he will oversee all of the Company's revenue streams and growth efforts. Thomas Massie, the Company's former President and Chief Operating Officer, has departed Agrify and resigned from the Agrify Board of Directors in order to pursue other business opportunities.

Mr. Holtzman serves as Operations Director at Ocean 14 Capital, a private equity impact fund focused on the Blue Economy. Mr. Holtzman also serves as the Investments Principal at Pontos Aqua. Pontos Aqua is a founding partner of Ocean 14 Capital.

Mr. Holtzman launched the advisory business of Pontos, as well as Pontos' direct investment in recirculated aquaculture farming (PRC). He managed Pontos' direct investment in PRC and the private equity and leveraged buyout practice. Additionally, Mr. Holtzman is a founding officer of Stronger America through Seafood, which strives to increase the production of healthy, sustainable, and affordable seafood in the United States.

Prior to joining Pontos and Ocean 14, Mr. Holtzman was the Vice Chairman of Capitol Peak Asset Management, which focused on infrastructure projects and companies in Rural America. Prior to Capitol Peak, Mr. Holtzman was appointed by President Obama as the Senior Advisor to the United States Secretary of Agriculture. For six years, Mr. Holtzman advised the Secretary on the development of new public-private partnerships, aquaculture, trade, biotechnology, and international food security.

He also served as Acting Deputy Under Secretary for Farm and Foreign Agriculture Services and as Acting Deputy Under Secretary of Marketing and Regulatory Programs. In these roles, Mr. Holtzman represented the United States in its negotiations with the Peoples Republic of China as a four-time Delegate on the Joint Committee on Commerce and Trade, and he was regularly involved with a multitude of international trade issues, trade missions, and trade negotiations. He also served as the United States Chairman of the North American Biotechnology Initiative, which includes the United States, Canada, and Mexico. Prior to this appointment, Mr. Holtzman, an attorney for over 25 years, provided strategic consulting to multi-national companies related to transportation infrastructure, project finance, public-private partnerships, health care, and government procurement.

He also served as a City Attorney and Special Counsel to several municipalities. Mr. Holtzman is a Board Member of The Arcadia Center for Sustainable Food and Agriculture, he is the Founding Chairman of Adopt-A-Classroom, and he sits on the Global Advisory Council of Secure System. Mr. Holtzman received his undergraduate degree in Agricultural Economics from the University of Florida's Institute of Food and Agricultural Sciences and his law degree from the University of Miami.

Mr. Wilcox originally joined Agrify in February 2021 as an Independent Director. Prior to this announcement, Mr. Wilcox served as the Chair of the Nominating and Corporate Governance Committee, and he also sat on both the Compensation Committee and the Mergers & Acquisitions Committee. Mr. Wilcox is a highly accomplished executive with over 30 years of domestic and international experience, including multiple leadership roles in the cannabis industry.

Mr. Wilcox is currently Chairman of the Board of Ora Pharm, an international cannabis company based in New Zealand. He is also on the Advisory Board for Revelation Micro, and he is Managing Partner of NuRevelation, a biotech company based in North Carolina. Previously, Mr. Wilcox spent three years as the Chief Operating Officer of Curaleaf, during which time the company grew into one of the industry's large cannabis companies.

Mr. Wilcox has been a strong advocate for cannabis, influencing legislation to require product safety certifications for cannabis operators, standardized product testing, and standard operating procedures. He received an undergraduate degree in Engineering from the University of Toledo and a graduate degree in Management and Operations from Central Michigan University. Mr. Benyo originally joined Agrify in January 2022 as Senior Vice President and General Manager of the Company's Extraction Division.

Mr. Benyo is an executive with over 25 years of sales, marketing, and operations experience across multiple industries, including cannabis and technology. Previously, Mr. Benyo was Chief Executive Officer and a Board Member of Lift and Store, LLC, an automated overhead storage solutions company based in Minnesota. He also led their Lift and Grow Division, providing cannabis growers with automated systems. Prior to that, Mr. Benyo was Chief Revenue Officer at Conservis, a SaaS provider with a focus on farming.

He received an undergraduate degree in Journalism from the University of Florida.