Ericsson announces change to the Executive Team

Peter Laurin,Senior Vice President and Head of Business Area Managed Services,will leave his position and the Ericsson Executive Team,effective August 15,2022

STOCKHOLM,April 7,2022 -- Ericsson (NASDAQ: ERIC) today announces that Peter Laurin has decided to leave Ericsson to pursue opportunities outside the company. Peter Laurin has been with the company since 2001 and will leave his position as Senior Vice President and Head of Business Area Managed Services on August 15,2022. He has served on Ericsson's Executive Team since 2017.

Börje Ekholm,President and CEO,says: "Peter has been instrumental in turning around and transforming our Managed Services business and successfully led Ericsson's digitalization and IT journey. He is a valued member of the Ericsson leadership team and I wish Peter all the very best in this new role as CEO of Piab."

Peter's successor as Head of Business Area Managed Services will be announced later.

Piab (www.piab.com) is a leading company in automation of production processes around the globe.

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About Ericsson

Ericsson enables communications service providers to capture the full value of connectivity. The company's portfolio spans Networks,Digital Services,Managed Services,and Emerging Business and is designed to help our customers go digital,increase efficiency and find new revenue streams. Ericsson's investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

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Ericsson announces change to the Executive Team