Neonode Announces Resignation of Chief Financial Officer

STOCKHOLM, SWEDEN, February 20, 2019 — Neonode Inc. (NASDAQ: NEON), the optical interactive sensing technology company, today announced that Lars Lindqvist intends to resign from his position as Chief Financial Officer to explore leadership opportunities outside the company. Mr. Lindqvist has agreed to maintain his commitment to Neonode by rejoining the Board of Directors at a future date.

Mr. Lindqvist, age 61, has served as Chief Financial Officer of Neonode since August 2014.  He previously served as a member of the Board of Directors of Neonode between November 2011 and August 2014.

To assist in the transition, Mr. Lindqvist will continue to serve as Chief Financial Officer until mid-2019. Neonode has initiated a search to identify a qualified candidate to fill the permanent Chief Financial Officer position.

“On behalf of the Board of Directors and Neonode Executive team, we thank Lars for his significant contributions to our company over many years, including supporting our new Board members since 2017,” stated Ulf Rosberg, Chairman of Neonode. I appreciate his commitment to an orderly transition of the chief financial officer responsibilities and will be pleased to welcome him to the Board of Directors.”

For more information, please contact:

Investor Relations
David Brunton
Email: david.brunton@neonode.com

CFO
Lars Lindqvist
E-mail: lars.lindqvist@neonode.com

About Neonode

Neonode Inc. (NASDAQ:NEON) develops, manufactures and sells advanced sensor modules based on the company's proprietary zForce AIR technology. Neonode zForce AIR Sensor Modules enable touch interaction, mid-air interaction and object sensing and are ideal for integration in a wide range of applications within the automotive, consumer electronics, medical, robotics and other markets. The company also develops and licenses user interfaces and optical interactive touch solutions based on its zForce CORE technology. To date, Neonode’s technology has been deployed in approximately 67 million products, including 4 million cars and 63 million consumer devices.

NEONODE, the NEONODE logo, ZFORCE and ZFORCE AIR are trademarks of Neonode Inc. registered in the United States and other countries.

For further information please visit www.neonode.com

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements relating to expectations, future performance or future events, and product cost, performance, and functionality matters. These statements are based on current assumptions, expectations and information available to Neonode management and involve a number of known and unknown risks, uncertainties and other factors that may cause Neonode's actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward-looking statements.

These risks, uncertainties, and factors are discussed under "Risk Factors" and elsewhere in Neonode's public filings with the U.S. Securities and Exchange Commission from time to time, including Neonode's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. You are advised to carefully consider these various risks, uncertainties and other factors. Although Neonode management believes that the forward-looking statements contained in this press release are reasonable, it can give no assurance that its expectations will be fulfilled. Forward-looking statements are made as of today's date, and Neonode undertakes no duty to update or revise them.