Wallbox N.V. announced the appointment of two board observers who will collectively bring over 70 years of automotive experience. Dr. Dieter Zetsche, Chairman of TUI AG and former Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz, and Justin Mirro, Founder and President of Kensington Capital Partners LLC will serve the Wallbox board as observers to further strengthen its operational excellence. Dr. Zetsche and Mr. Mirro will leverage their collective skills and expertise from operating and advising some of the world's leading automotive companies to provide guidance and direction to Wallbox as it continues to grow and shape one of the fastest growing market sectors.

Wallbox intends to seek shareholder approval to expand the size of its board and to elect Dr. Zetsche and Mr. Mirro as directors at the 2023 Annual General Meeting of shareholders. Dr. Dieter Zetsche is Chairman of TUI AG) and holds several other board positions both as a member and advisor. With over 45 years of automotive experience, first joining the research department of Daimler-Benz AG in 1976, Dr. Zetsche will bring unrivaled industry expertise to Wallbox as the company continues to expand partnerships with leading OEMs globally.

Notably Dr. Zetsche has been a member of the Board of Management of Daimler AG since December 1998 and was Chairman of the Board of Management of Daimler AG from January 2006 until May 2019, during which he was also Head of Mercedes-Benz Cars. Justin Mirro, the Founder and President of Kensington Capital Partners LLC, has advised on over $70 billion of M&A, debt, equity and restructuring transactions for automotive assemblers, suppliers, the aftermarket and dealerships. Mr. Mirro spent almost 20 years as an automotive investment banker for various global banks including The Royal Bank of Canada, Jefferies & Company, Moelis & Company and Salomon Smith Barney.

He also brings a vast personal network of industry leaders throughout the automotive supply chain which will assist as Wallbox further expands in North America operationally and with institutional investors. Mr. Mirro is a member of the board of Amprius Technologies and former member of the board of Quantumscape.