Ericsson Announces Compliance Leadership Changes

STOCKHOLM,Feb. 28,2023 -- Ericsson (NASDAQ: ERIC) today announces that after almost four years as Ericsson's Chief Compliance Officer (CCO),Laurie Waddy will be leaving the company. Ms. Waddy joined Ericsson in April 2019 and played an important role in strengthening the company's ethics and compliance function. She will be replaced on an interim basis by Jan Sprafke.

Börje Ekholm,President and CEO,commented: "We thank Laurie for her contributions to Ericsson over the past several years building the Compliance function and program and wish her the best as she starts her next chapter. The whole executive team remains focused on the key priority of embedding a culture of ethics and integrity into our business,which we believe is critical to our market leadership."

Ms. Waddy added: "Over the past four years Ericsson has made tremendous progress building toward a best-in-class compliance program. The Company is well positioned to continue this journey,and I am excited to explore new opportunities."

A search for a successor is underway. As interim CCO,Jan Sprafke will report to Scott Dresser,Group Chief Legal Officer and the Audit and Compliance Committee of the Board of Directors until a permanent replacement is identified. Ms. Waddy will be working with Jan Sprafke to ensure a smooth transition of the compliance functions and monitorship activities.

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ABOUT ERICSSON:

Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company's portfolio spans the following business areas: Networks,Cloud Software and Services,Enterprise Wireless Solutions,Global Communications Platform,and Technologies and New Businesses. It is designed to help our customers go digital,increase efficiency and find new revenue streams. Ericsson's innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

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Ericsson Announces Compliance Leadership Changes