Sharon Chadha - 31 Dec 2021 Form 4 Insider Report for Exela Technologies, Inc. (XELA)

Footnote F1

HOVS LLC, a Delaware limited liability company ("HOVS"), HandsOn Fund 4 I, LLC, a Nevada limited liability company ("HOF 4"), and HOV Capital III, LLC, a Nevada limited liability company ("HOV 3") each directly own shares of Exela Technologies, Inc. (the "Issuer"). HOVS is a wholly-owned subsidiary of HOV Services Ltd., an Indian limited company ("HOV Services" and together with HandsOn Global Management, LLC, a Delaware limited liability company ("HGM"), HOVS, HOF 2 LLC, a Nevada limited liability company ("HOF 2"), HOF 4, HOV 3, and Adesi 234 LLC, a Nevada limited liability company ("Adesi"), the "HGM Group")). Adesi and HOF 2 LLC together own a majority of HOF 4. Adesi and HOF 2, own a majority of the equity interests of HOV 3.

Footnote F2

Mr. Par Chadha, Sharon Chadha's spouse, may be deemed to control HandsOn 3, LLC, a Nevada limited liability company ("HOF 3") and the HGM Group. The parties identified above and HGM may be deemed to beneficially own any shares of the Issuer owned by the entities in which they are beneficial owners. Each member of the HGM Group disclaims beneficial ownership of any shares of the Issuer owned by any other member of the HGM Group, except to the extent of its pecuniary interest therein. Solely for purposes of Section 16 of the Exchange Act, the HGM Group may be deemed to be directors-by-deputization by virtue of the HGM Group's contractual right to designate directors to the board of directors of the Issuer. For purposes of the exemption under Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended.

Footnote F3

Shares owned directly by Par Chadha, Sharon Chadha's spouse.

Footnote F4

Sharon Chadha may be deemed to beneficially own shares of the Issuer owned by Par Chadha, her spouse, and entities owned or controlled by Par and/or Sharon Chadha. The Reporting Person disclaims beneficial ownership of any shares of the Issuer owned by such other Persons, except to the extent of her pecuniary interest therein.

Footnote F5

Shares directly owned by HOF 2 and indirectly by Par Chadha, Sharon Chadha's spouse.

Footnote F6

Shares directly owned by HGM and indirectly by Par Chadha, Sharon Chadha's spouse.

Footnote F7

Shares directly owned by HOVS and indirectly by Par Chadha, Sharon Chadha's spouse.

Footnote F8

Shares directly owned by Adesi and indirectly by Par Chadha, Sharon Chadha's spouse.

Footnote F9

Shares directly owned by HOF 3 and indirectly by Par Chadha, Sharon Chadha's spouse.

Footnote F10

Each restricted stock unit represents the right to receive, following vesting, one share of Common Stock, which may be settled in shares of Common Stock or cash as elected by the Compensation Committee of the Board of Directors of the Company.

Footnote F11

On October 11, 2021, Sharon Chadha was granted 90,909 restricted stock as non-employee director equity compensation pursuant to the terms and conditions of the Company's Director Compensation Policy and 2018 Stock Incentive Plan. The remainder of this award will vest in equal installments immediately prior to each of the 2022 and 2023 annual meetings of the Company

Footnote F12

On December 31, 2021, following the Company's 2021 annual meeting of stockholders, Sharon Chadha was granted 27,740 restricted stock units as non-employee director equity compensation for 2021 pursuant to the terms and conditions of the Company's Director Compensation Policy and 2018 Stock Incentive Plan. The restricted stock units vested on January 3, 2022, the first business day of 2022.

Footnote F13

Shares of Common Stock issued upon vesting of restricted stock units will be settled following filing by Exela Technologies Inc. of a Registration Statement on Form S-8 with respect thereto.

Footnote F14

On December 31, 2021, following the Company's 2021 annual meeting of stockholders, Par Chadha was granted 159,091 restricted stock units as equity compensation for 2021 pursuant to the terms and conditions of the Company's Director Compensation Policy and 2018 Stock Incentive Plan. The restricted stock units vested on January 3, 2022, the first business day of 2022.