LATEST PRESS RELEASE

Shreveport, Louisiana – Module X Solutions, a leading design, engineering & modular manufacturing business serving the renewable power, fiber infrastructure and related markets, announced that Anand Kulkarni has joined the company as its president & CEO. This move is effective immediately. David Hadley, who has served as vice chairman of the board of MXS for 6+ years and who stepped in to lead the company as president & CEO two years ago, is supporting Mr. Kulkarni’s ramp up and is returning to his roles as MXS vice chairman and investor.

“I am excited to be joining MXS at an inflection point in the growth of the company,” said Mr. Kulkarni. “MXS has built a strong market position delivering engineering services and modular manufactured infrastructure products to the two largest high-growth investment sectors in the world – renewable power and data center/fiber infrastructure. I am looking forward to working with my new colleagues to further ramp up our capabilities and capacity so we can serve our customers with more innovative and scalable solutions.”

Until he agreed to join MXS, Mr. Kulkarni was the chief operating officer of KPS Global, a manufacturer of insulated panel systems based in Fort Worth, Texas. Like MXS, KPS provides custom-designed, engineered solutions to Fortune 1000 customers such as Costco and Wal-Mart. He has had a series of increasingly senior operating, sales and marketing roles including at Neenah Enterprises, Rexnord Industries and Cooper Power Systems (now part of Eaton). Mr. Kulkarni has an MBA from the University of Chicago and an electrical engineering degree from the University of Wisconsin, Madison.

“The last two years have been exciting years of growth for MXS, and we have been aggressively investing in our people and our Shreveport facility to support our rapid growth,” said Kristen Erler, chairwoman of the board of MXS. “The board conducted a national search and saw several great candidates, and we are very excited to have Anand on board as our next president & CEO. I want to thank the MXS team that does the hard work every day for our customers and thank our customers who rely on us to meet their mission-critical infrastructure needs. I particularly want to thank David Hadley for stepping into the president & CEO role two years ago and growing and strengthening the business while commuting from California. Anand has a tough act to follow!”

David Hadley added “it has been an honor to lead the MXS team forward for the past two years. In that time, we have doubled our revenue, achieved solid profitability, built the biggest backlog in the history of the company, invested in our facility and positioned the company for future growth. I am most proud of the many steps we have taken to make MXS an ‘Employer of Choice’ in the Shreveport marketplace. We have meaningfully increased our pay rates, implemented incentive compensation programs for all MXS employees and invested significantly in technical training, leadership training and open communication with our people. I look forward to supporting Anand and the whole MXS team going forward.”

The search firm CarterBaldwin (www.carterbaldwin.com) conducted this national search. Managing Partner David Clapp led this search for MXS.

About MXS: Module X Solutions is a rapidly growing modular manufacturing business that serves marquee corporate and government customers in renewable energy, fiber infrastructure, battery storage, telecommunications, petrochemical, utility, transportation, and other verticals. We design, engineer, and manufacture products to our customers’ specifications. We are a proud Shreveport-based company working to support our employees and our community (www.ModuleXSolutions.com).