On August 29, 2022, Margaret Coleman advised SG Blocks, Inc. that she intends to retire as a director of the Company effective as of October 1, 2022. The expected retirement is not the result of any disagreement with the Company. Effective September 1, 2022, the Company appointed Marc Brune as the Company's Director of Finance and entered into an executive employment agreement with Marc Brune to employ Mr. Brune in such capacity for an initial term of two (2) years, which Employment Agreement provides for an annual base salary of $250,000, a signing bonus of $50,000 and a discretionary bonus of up to 25% of his base salary upon achievement of objectives as may be determined by the Company's board of directors.

Mr. Brune, age 61, is a seasoned financial executive having started his career on Wall Street in 1986. He has worked in the fields of institutional sales, investment banking and private equity. Since December 2012, Mr. Brune has acted as an independent investment banking consultant assisting small to mid-sized companies' complete capital raises, mergers and acquisitions and restructurings.

From January 2019 until December 2020, Mr. Brune served as a director of Vauban International Bank based in Puerto Rico. Mr. Brune was educated in Germany and completed his collegiate education in Geneva, Switzerland.