Certain Common Stock of Presto Automation Inc. are subject to a Lock-Up Agreement Ending on 20-FEB-2024. These Common Stock will be under lockup for 91 days starting from 21-NOV-2023 to 20-FEB-2024.

Details:
The directors, officers, and certain significant stockholders, collectively holding 45.3% of our outstanding shares, have agreed not to offer, sell, agree to sell, directly or indirectly, or otherwise dispose of any shares of Common Stock or any securities convertible into or exchangeable for shares of Common Stock without the prior written consent of Northland Securities, Inc. for a period of 90 days after the date of this prospectus supplement. These lock-up agreements provide limited exceptions and their restrictions may be waived at any time by the Northland Securities, Inc. The exceptions include the ability to sell a number of shares necessary to cover estimated tax payments upon the vesting during the 90-day lock-up period of RSUs held by our directors. Of the foregoing shareholders, the holders of 52.4% of our shares have also agreed pursuant to a separate lock-up agreement with us entered into in connection with a financing transaction not to offer, sell or transfer their shares until December 23, 2024. Following the expiration of the lock-up periods, these shares will be available for sale in the public markets subject to restrictions under applicable securities laws.