KuBitX State of Affairs — Important Announcement

Dear KuBitan

We feel it is important that we update our investors and holders of our KBX tokens on the current state of the Company.

The Company was co-founded by Eric Annan, Alex Amadeu and Victor Akoma-Philips in 2017 and with the help of an outstanding and dedicated team the Company was able to develop and launch its flagship KBX wallet during this period. Like every other enterprise, the Company had its ups and downs and was able to power through with the support of our investors and amazing community.

Early last year Alex Amadeu, one of the co-founders, resigned from the Company abruptly. His departure was a shock to the entire team, however the team continued to build on and improve its flagship product the KBX wallet. Thereafter, the Company continued to engage and sign on new partnerships in developing blockchain solutions to address the payments and remittances issues in Africa.

The Company was on the verge of announcing deployment of its upgraded and rebranded wallet; and signing on to a partnership with one of the bigger payments gateway providers in West Africa when it received the resignation letter of its co-founder and CEO, Eric Annan on May 31st, 2021. A two weeks notice was given to the Company, which translated to the 14th of June, 2021. This recent development came as a shock to the dedicated team members and our esteemed investors alike. As mentioned above, the Company was founded by three individuals who birthed the vision of the Company and two of the founders have now departed the Company.

The Company is currently in consultations with stakeholders to map out the way forward as a result of the departure of its cofounders. We feel it is important that we let our community know the state of the affairs of the company. We will update you as soon as we conclude with our consultations.