Magnus René appointed CEO at Ovzon. Per Wahlberg assumes new role as EVP Business Development

The Board of Directors of Ovzon today has appointed Magnus René CEO of Ovzon. The present CEO, Per Wahlberg, will assume a position as Executive Vice President, Business Development.

Per Wahlberg is the founder and CEO over the 12 years since the company inception. Per Wahlberg and the Board of Directors of Ovzon have agreed to the changes and when the company now enters into a new phase this change will allow Per to concentrate his time on what he enjoys most and what is his strength, i.e. business development and innovation.

Magnus René has been a director of Ovzon since May 2018 and will as CEO help accelerate the industrialization of Ovzon’s offering as well as optimizing the organization in support of the business plan. As previously communicated the company recently initiated the process of applying for listing at Nasdaq Stockholm Main Market.

Magnus René has a background in international technology industry, most recently as CEO of Arcam 2001-2018. Arcam was publicly listed on Nasdaq Stockholm 2012-2018. During Magnus’ time at Arcam the company grew from a start-up to a global operation with international high-profile customers. Arcam was acquired by GE in 2017.

Magnus René lives in Boston since 2015 and will remain Boston based. He will also remain a director of the board. Magnus’ initial assignment is for 18 months.

"These changes will enable the acceleration of the next steps in the company’s development, with Per fully focusing on business development and Magnus on taking the company organization to the next level ", says Anders Björkman, Chairman of Ovzon.

PUBLICATION

This information is inside information that Ovzon is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 07.45 CET on May 6, 2019.

For more information contact

Anders Björkman

Chairman

abj@ovzon.com

Tel: +46 70 7700077

About Ovzon

Ovzon offers a revolutionary mobile broadband service via satellite. By combining high bandwidth with highly mobile terminals – service offerings provide speeds up to 80 times faster than competing services. Applications include real-time sensor and video upload, from moving vehicles to include ground or maritime platforms and manned or unmanned aircraft. Ovzon is headquartered in Solna, Sweden and has offices in Tampa, FL and Bethesda, MD in the United States. The share (OVZON) is traded on Nasdaq First North Premier. FNCA Sweden AB, +46(0)8-528 00 399 info@fnca.se, is the company’s Certified Adviser. Read more on www.ovzon.com.