FEXD Fintech Ecosystem Development Corporation

On October 21, 2022, FEXD consummated the private placement of 1,150,000 warrants at a price of $1.00 per warrant (the “New Warrants”), generating total proceeds of $1,150,000 (the “Private Placement”). The New Warrants were purchased by Revofast LLC (the “Sponsor”), FEXD’s sponsor, and are substantially similar to the private placement warrants issued to the Sponsor at the time of FEXD’s initial public offering in October 2021 (the “IPO”). The New Warrants have been issued pursuant to, and are governed by, a Warrant Agreement attached as Exhibit 10.1, which is substantially similar to the Warrant Agreement that the FEXD entered into at the time of the IPO. Similar to the private placement warrants issued at the time of the IPO, the New Warrants will not be transferable, assignable or salable until 30 days after FEXD’s initial business combination and, unlike such private placement warrants, are not redeemable by FEXD at any time (including following transfer by the Sponsor or its permitted transferees).

The proceeds received by the FEXD in connection with the issuance of the New Warrants have been deposited in the trust account (the “Trust Account”) established at the time of the IPO. In accordance with the FEXD Amended and Restated Certificate of Incorporation, the deposit of such proceeds into the Trust Account on or prior to October 21, 2022 will extend by three months the time FEXD will have to consummate an initial business combination.