On June 6, 2023, Kenji Yodose resigned from the Board of Directors (Board) of Nuvve Holding Corp. (Company) effective immediately. Mr. Yodose served on the Board as a designee of Toyota Tsusho Corporation (TTC), a stockholder of the Company, in accordance with the terms of that certain stockholder agreement (Stockholder Agreement), dated as of March 19, 2021, by and between the Company and TTC, pursuant to which TTC had the right to designate one member of the Board for appointment or election as a director for so long as TTC's Merger Shares (as defined in the Stockholder Agreement) represent at least 5% of the issued and outstanding common stock of the Company.

As of June 6, 2023, TTC's Merger Shares represented less than 5% of the outstanding common stock of the Company. Mr. Yodose's resignation was pursuant to a Contingent Letter of Resignation, dated as of March 19, 2021, pursuant to which he notified the Company of his resignation to be effective immediately upon the earlier to occur of TTC's Merger Shares representing less than 5% of the outstanding common stock of the Company and the appointment or election of a subsequent director designee by TTC, and did not result from any disagreement with the Company or the Board on any matter relating to the Company's operations, policies or practices.