Appointment of Fredrik Nihlén as Chief Financial Officer at Neonode

STOCKHOLM, SWEDEN, March 31, 2021 — Neonode Inc. (NASDAQ: NEON), today announced the appointment of Fredrik Nihlén as Chief Financial Officer, to become effective on or about August 2, 2021, following a notice period to Mr. Nihlén’s current employer.

Mr. Nihlén joins Neonode from IFS Sverige AB (“IFS”) where he held the position of Finance Director IFS Nordics since 2019. Prior to joining IFS, Mr. Nihlén held the position of Group Chief Financial Officer at Cinnober Financial Technology AB from 2018 to 2019. Before this Mr. Nihlén was with DIBS Payment Services, where he held the position of Head of Finance from 2016 to 2018 and Business Controller from 2013 to 2016.

Mr. Nihlén has a M.Sc. in Business Studies and Economics from Växjö University, Sweden.

Maria Ek will remain in her position as the company’s Chief Financial Officer until Fredrik Nihlén joins later this year.

“We are in a very positive and dynamic phase and see a strong and increasing demand for our contactless touch solutions and other offerings from customers worldwide. The recruitment of Fredrik Nihlén is a testament to our belief in the company’s growth potential and with Mr. Nihlén joining our team we get a person with financial expertise and business acumen that will reinforce our work to develop and grow the company and improve profitability,” said Urban Forssell, Chief Executive Officer.

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