At the board of directors meeting held on May 14, 2024, QD Laser, Inc. has decided to appoint Mr. Osamu Nagao, a director of Infomart Corporation, as the new representative director and president, effective June 28, 2024. On the same date, Dr. Mitsuru Sugawara, the current representative director and president and Mr. Shinji Kounoya, director, and head of the corporate planning division, will be stepping down from their positions. Dr. Mitsuru Sugawara, the current president and representative director, will assume the role of "Founder and Chief Technology Advisor" in the new management structure.

In this capacity, he will further focus on advancing and innovating core strength in the semiconductor laser technology and beyond. Additionally, he will assist the management as needed, contributing to the growth of company. Please note that these changes are subject to approval at the 18th Regular General Meeting of Shareholders, scheduled for June 28, 2024, and at the subsequent board of directors meeting.