Spectra Products Inc. reported the resignation of Giacomo Grassi and Kevin Haney as directors effective July 1, 2022. Mr. Grassi and Mr. Haney have resigned for personal reasons. The company announced the appointment of two new independent directors to its Board of Directors of the Corporation subject to regulatory consent.

Robert Moran and Aidan Bolger both have extensive experience in the transportation industry over the past 40 years. Aidan Bolger started his transportation career in Toronto in the truck rental and leasing business and has over forty plus years' experience in ownership and senior executive positions. This experience covers truck transportation leasing as well as the Intermodal industry in North America at the OEM and retail levels.

Mr. Bolger brings a unique set of transportation and management skills to Spectra Products Inc.'s Board of Directors. Robert Moran is a serial entrepreneur with over forty-five years of experience in High Technology, and business start-ups. A strategic thinker, his strengths include ground-up business planning and product market positioning.

He has served on the board of numerous medium to large scale companies and has founded and managed the success of five pre-investment start-ups primarily in the High-Tech sector.