Coda Octopus Group Restructures its Board of Directors and Appoints Brigadier General Anthony J. Tata (Ret.) and Robert Harcourt to its Board of Directors - Seite 2

Mr. Robert R Harcourt is a retired Audit and Advisory Partner of KPMG with a professional career spanning over 40 years, executing a variety of roles at the partnership level during this time with this leading global organization, both in the USA and Europe. Mr. Harcourt has a wide experience as an audit and advisory professional, practice manager, professional practice leader, and human resource head. He brings to the Board a wide experience in Sarbanes-Oxley. He also worked as an associate director of the Public Company Accounting Oversight Board (PCAOB) for several years. Mr. Harcourt has broad experience with a number of industries, including manufacturing. He completed a BBA in Accountancy from Pace University, is a Certified Public Accountant and has completed course work at Harvard University and Stanford University. He is also a co-author of “Supply Chain Management,” published in The CPA Journal.

Mr. Harcourt echoed Brigadier General Tata, saying, “CODA’s technology is truly impressive, and its management impresses with its vision and determination. The Company is in excellent condition, with world-leading products. I look forward to playing my part in helping management execute its vision and advance the business for its stakeholders.”

Annmarie Gayle, CODA’s Chair and CEO, said, “We are very pleased and humbled to add these exceptional individuals to our Board as we pivot the Company to its next level of performance. We look forward to leveraging their expertise and capabilities for the benefit of our stakeholders. At this pivotal and transformational time in the Company, where we are diverting our focus from our R&D to business development and global brand building, we believe that this Board composition brings us additional, targeted expertise to help management execute on its strategy for the Company.”

The vacancies were the result of the retirement from the Board of Ms. Mary Losty and Captain Charlie Plumb (Ret) with immediate effect. Ms. Gayle stated: “On behalf of the Company and the Board of Directors, I would like to thank both Ms. Losty and Captain Plumb for their service and significant contributions to the Company during their tenure on the Board. We wish each of them the best in their future endeavors.”

About Coda Octopus Group, Inc.

The Company, founded in 1994, innovates, develops, manufactures and markets subsea products (hardware and software) and solutions including its flagship real-time 3D, 4D, 5D and 6D underwater imaging sonar technology, marketed under the name “Echoscope” and Echoscope PIPE and its recently launched Diver Augmented Vision Display system (“CodaOctopus DAVD”). This sonar technology generates real-time 3D, 4D, 5D and 6D imaging data for inspection and mapping underwater and is used globally for numerous applications including the commercial and defense underwater market. Applications for the Echoscope technology include complex mapping underwater, subsea intervention, subsea asset placements, offshore renewables cable installations and surveys, marine construction, subsea infrastructure installation, mining applications, breakwater construction and monitoring, decommissioning, diving applications and port and harbor security. The recently launched new generation of diving technology, DAVD, is expected to change the way global diving operations are performed (both in the Defense and Commercial space) because it provides real time digital information for use and consumption by both the divers and the dive supervisor top-side team. It is also expected to transform the way communications are made in diving from analog audio to digital audio and to 2D and 3D visual imagery, both in textual and video format. In addition to the Marine Products business, Coda Octopus Products Ltd., CODA’s two defense engineering services businesses are operated through Coda Octopus Colmek and Coda Octopus Martech. For further information, please visit http://www.codaoctopusgroup.com or contact us at [e-mail].