Effective August 14, 2019, the board of directors (the “Board”) of Ideanomics, Inc. (the “Company”) approved, and Mr. Steven Fadem accepted, an appointment to the Company’s Board. There is no arrangement or understanding between Mr. Fadem and any other person pursuant to which Mr. Fadem was selected as a member of the Board, there is no family relationship between Mr. Fadem and any director or officer of the Company. Mr. Fadem is considered an independent director of the Board and has been accepted to serve on the Company’s Audit Committee.

Mr. Steven Fadem is an innovative executive and thought leader with substantial experience building media, entertainment, technology, information services, big data and cybersecurity companies with experience in the digital transformation of traditional businesses. Mr. Fadem has successfully launched start-ups; turned-around and revitalized complex corporate businesses and created long-term-value for professional services organizations. Steven Fadem was the Chairman of Global Data Sentinel, a cybersecurity firm he co-founded in 2014. In his capacity as Chairman, he has led the company’s strategic development and capital formation. Previously, Mr. Fadem ran several private equity-backed companies in the media, energy and financial services areas; the business side of a top-five Am Law firm, Kirkland & Ellis; and a major financial services firm, Geller & Co. which, among other things, possesses a major multifamily office servicing the ultra-high net worth community and is the outsourced CFO for Bloomberg L.P. Mr. Fadem received his JD from Emory University of Law and a B.S. in Economics, Finance, and Political Science from University of Pennsylvania – The Wharton School.