On September 16, 2022, the Board of Directors of Mega Matrix Corp. received the resignation of Ms. Florence Ng as Chief Operating Officer and director, effective as of September 30, 2022, in connection with a termination agreement dated September 16, 2022 (the “Termination Agreement”) entered into by the Company with Ms. Ng. Pursuant to the terms of the Termination Agreement, the Company and Ms. Ng mutually agreed to terminate Ms. Ng's employment agreement dated October 1, 2021 with the Company, as amended on November 1, 2021 and March 25, 2022 (the “Employment Agreement”) and Ms. Ng will resign from her positions with the Company, including as Chief Operating Officer and director, to be effective as of September 30, 2022.

On September 16, 2022, the Board appointed the Company's current financial manager, Mr. Yunheng (Brad) Zhang, as Chief Operating Officer of the Company, to be effective as of October 1, 2022. Yunheng (Brad) Zhang, age 30. Mr. Zhang served as the financial manager of the Company from October 2021 to September 2022.

Prior to joining the Company, Mr. Zhang was a product manager with Nengfan Technology Co. from 2020 to 2021. Mr. Zhang also served as the financial accountant of Midea Australia, from December 2018 to November 2019.

Mr. Zhang received his master's degree in professional accounting from Monash University in Australia in 2018 and received his bachelor's degree in product quality engineering from Xinhua University. In addition, on September 16, 2022, to fill the vacancy created by Ms. Ng's resignation, the Board elected Mr. Zhang to the Board, to be effective as of October 1, 2022. Mr. Zhang will be appointed as a member of the Company's Executive Committee.

Mr. Zhang will not receive any compensation for his service as a director.