On January 3, 2023, Ashish Gupta, the Presto Automation, Inc. Chief Financial Officer, disclosed that he will be leaving by the end of the quarter to accept an offer from another company. Mr. Gupta successfully took the Company public on the Nasdaq Stock Market and the Company is grateful for his service during his time at the Company. The Company is in the process of searching for a successor to Mr. Gupta and all parties are working towards a smooth transition.

Mr. Gupta's departure is not a result of any disagreement with the Company on any matter relating to financial reporting, strategy, operations or policies.