On May 19, 2023, Manish Agarwal, a member of the Board of Directors of HUB Cyber Security Ltd. resigned from the Board and all committees thereof, effective immediately. Mr. Agarwal resignation was not as a result of any disagreement with the Company on any matter relating to the operations, policies or practices of the Company. On May 25, 2023, the Board appointed Ms. Michal Arlosoroff to serve as a director in order to fill the vacancy created by the resignation of Manish Agarwal.

Ms. Arlosoroff will serve as a Class I director and as a member of each of the Company's audit committee, compensation committee and nominating, governance, compliance and sustainability committee. Ms. Arlosoroff will also chair the and nominating, governance, compliance and sustainability committee.