CPI Aerostructures appoints new director, shareholders approve incentive plan amendment

On and effective June 14, 2023, the board of directors (the “Board”) of CPI Aerostructures, Inc. (the “Company”) appointed Richard C. Rosenjack, Jr. to fill a Class II director vacancy on the Board and to serve on the Nominating and Corporate Governance Committee of the Board.

Proposal No. 3 – Approval, on an advisory basis, of the compensation of Named Executive Officers. The compensation of the Company's Named Executive Officers was approved, on an advisory basis, as follows: For Against Abstain Broker Non-Vote 5,124,414 868,129 715,757 3,330,241

Proposal No. 2 – Approval of amendments to the 2016 Plan to (i) increase the total number of shares of common stock available for issuance under the 2016 Plan by 800,000 shares, from 1,400,000 shares to 2,200,000 shares and (ii) increase the aggregate number of shares of common stock grantable to a 2016 Plan participant in a calendar year under certain awards from 50,000 shares to 125,000 shares. Amendment of the 2016 Plan was approved, as follows: For Against Abstain Broker Non-Vote 5,846,248 842,402 19,650 3,330,241

Proposal No. 4 – Ratification of the appointment of RSM US LLP. Ratification of the appointment of RSM US LLP was approved, as follows: For Against Abstain 9,936,784 96,293 5,464

Proposal No. 1 – Election of Class I directors. The election of each director nominee was approved as follows: Name For Authority Withheld Broker Non-Vote Richard Caswell 5,895,880 812,420 3,330,241 Terry Stinson 6,084,020 624,280 3,330,241