Pexip Appoints Trond K. Johannessen as Chief Executive Officer

Oslo, Norway, February 7, 2022: The Board of Directors (The Board) of Pexip Holding ASA ("Pexip" or "The Company", Oslo Børs Ticker: PEXIP) announces the appointment of Trond K. Johannessen as Chief Executive Officer (CEO), following an extensive international search process.

Mr. Johannessen is currently the CEO of Embron Group, a global IT and technology corporation that has doubled its revenues and increased its earnings (EBITDA) by five times under his leadership. He has 25 years of experience managing global business development, mainly in business-to-business sectors. Previously, Mr. Johannessen was the CEO of Embron subsidiary, Hatteland Technology. He also has executive management experience from Tomra, a publicly listed technology company in the circular economy space, where he was an integral part of establishing and growing a new business area that today constitutes around 50% of Tomra’s revenues. Mr. Johannessen also has a consultancy background as junior partner in McKinsey & Co. He has extensive board experience and is currently the chair of Webstep ASA, a publicly listed IT consultancy.

 "The video communication industry is entering a new era. We have seen the advent of a new video economy, opening up the use of video communication not just for meetings but for a huge range of applications across all industries. The Board believes that Trond is the ideal candidate to lead Pexip in its next stage of growth and development in this market. Trond’s results in scaling and commercializing complex technology in the global marketplace over many years are truly impressive. We are confident that his outstanding track record in global business makes him the right choice to lead Pexip in delivering continued high growth but also profitability in the years to come," said Michel Sagen, Chair of the Board of Pexip.

Mr. Johannessen will join Pexip in May 2022. Øystein Hem, who is currently Interim CEO and CFO, will continue to lead the Company until Mr. Johannessen assumes the role as CEO and will thereafter continue with Pexip as CFO.

 "The Board would like to thank Øystein for his strong leadership during his period as Interim CEO. We look forward to his continued contributions in driving the execution of our strategy and return to profitability,” said Mr. Sagen.

"I’ve followed Pexip’s progress and results with admiration for some time and now I'm very much looking forward to putting on the jersey and joining the team. With its unique technology, strong customer base among large public and private sector organizations, and highly experienced and knowledgeable team, Pexip is taking a leading position within defined sectors in the new video economy and I’m thrilled to be part of that journey," said Mr. Johannessen.

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