$IDEX WAVE Subsidiary Names Accomplished Clean Transportation Exec as CEO

Ideanomics’ (NASDAQ: IDEX) subsidiary, WAVE, a leading high-power inductive charging solution provider for medium- and heavy-duty vehicles, has named Aaron Gillmore its CEO effective immediately. Gillmore is an accomplished executive in clean transportation with broad expertise in electric commercial vehicles, EV charging, renewable energy, and battery storage. The appointment sets the path for WAVE to accelerate its scalability and growth across a wide range of industries and markets. In addition, the company announced that Michael Masquelier will serve as its chief technical officer and lead engineering, operations and technology development as it is experiencing strong growth. “Aaron comes to the Ideanomics team with a proven track record for critical revenue growth success and an array of experience in cleantech and emerging markets,” said Alf Poor, CEO of Ideanomics. “We are thrilled to have him at the helm of WAVE as the team continues to demonstrate commercial success through high-profile partnerships with the Department of Energy, Kenworth, UPS, and Sourcewell. We believe his expertise will be quintessential to the continued success and development of WAVE’s innovative inductive charging infrastructure and with his wealth of experience in fleet electrification and EV charging, we are confident in his ability to transition into this new role with ease and bring forward even more growth opportunities to WAVE.”

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About Ideanomics Inc.

Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under an innovative sales-to-financing-to-charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and shareholders with the opportunity to participate in high-potential growth industries. For more information, visit www.Ideanomics.com.

NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at http://ibn.fm/IDEX

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