Ericsson and KORE to Simplify Global IoT Deployments and Offer Unrivaled IoT Coverage in U.S.

The new alliance will enable enterprises to:

• Leverage KORE's unparalleled coverage in the U.S. in combination with Ericsson's IoT Accelerator's global deployment capabilities
• Simplify global deployments with control and visibility of devices, secure and dedicated IoT core network and seamless technology experience
• Benefit from new revenue streams, reach new market segments and create sustainable global businesses

ATLANTA and STOCKHOLM, Sept. 14, 2022 /PRNewswire/ -- KORE, a global leader in Internet of Things ("IoT") Solutions and worldwide IoT Connectivity-as-a-Service (CaaS), announced today that it has entered into an agreement with Ericsson (NASDAQ: ERIC) to join the Ericsson IoT Accelerator ecosystem. With this relationship, enterprises will be able to take advantage of KORE's IoT connectivity solutions and other managed services while utilizing Ericsson's award-winning global IoT connectivity management platform, IoT Accelerator. This enables global enterprises to seamlessly expand their IoT business in the U.S. market and beyond.

"When two industry-leading companies work together, innovation is the natural result. This alliance ensures that enterprises not only have connectivity in every corner of the world, but also a variety and choice," said KORE President and CEO Romil Bahl. "Our joint customers will enjoy a seamless experience built on a foundation of reliable customer and technology support that bolsters their ability to solve IoT deployment complexity."

KORE and Ericsson are aligned with a common mission to simplify global IoT deployments and enable enterprises to realize new revenue streams, reach new market segments and create a sustainable global businesses. This will reduce IoT deployment complexities by:

• Enabling visibility and control to easily monitor and manage globally deployed assets.
• Delivering a high level of reliability and security through a dedicated IoT core network with coverage throughout the U.S. and other key markets.
• Offering a seamless technology experience with real-time analytics, plus a common interface and set of APIs.

Enterprises deploying IoT globally will be able to benefit from KORE's unrivaled IoT connectivity solution in the U.S. while being able to easily manage their IoT assets anywhere on the Ericsson IoT Accelerator platform. Likewise, enterprises currently using the IoT Accelerator platform in other parts of the world can now deploy IoT assets in the U.S. while maintaining a single view to manage and monitor all assets deployed globally.

"We are delighted to welcome KORE as the latest service provider partner in our growing IoT ecosystem, extending the reach of our IoT Accelerator platform into the United States," said Kyle Okamoto, Ericsson IoT General Manager. "Enterprises will continue to have access to unparalleled IoT connectivity coverage and the capabilities of Ericsson's IoT Accelerator, which is already trusted by more than 8,500 enterprises around the world to manage over 90 million connected devices."

KORE and Ericsson also have the broader ambition to:

• Continue to grow and expand the mutual service ecosystems between Ericsson's IoT Accelerator and the KORE One™ IoT enablement platform.
• Further simplify and grow eSIM use and reseller business models enabling true IoT service globalization.
• Leverage the joint ecosystem scale with cloud providers and chipset manufacturers, making it easier for enterprises to adopt and scale IoT business globally.

For more information on the benefits of this collaboration, please visit here.

Come visit KORE and Ericsson at Exhibition stand 641 during Mobile World Congress Americas in Las Vegas and learn more at the Wednesday, September 28^th Open Stage Talk featuring KORE President and CEO, Romil Bahl and Ericsson General Manager IoT, Kyle Okamoto.

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KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers' business outcomes. For more information, visit www.korewireless.com.

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. 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 around the world. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include statements about KORE's commercial relationship with Ericsson and related expectations. These statements are based on various assumptions and on the current expectations of KORE's management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE's business and the timing of expected business milestones; risks relating to the integration of KORE's acquired companies, changes in the assumptions underlying KORE's expectations regarding its future business; the effects of competition on KORE's future business; and the outcome of judicial proceedings to which KORE is, or may become a party. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Annual Report on Form 10-K that KORE has most recently filed with the U.S. Securities and Exchange Commission, or the SEC, and other documents filed by us or that will be filed by us from time to time with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

KORE Media Contact:
Alisa Moloney
KORE
Email: amoloney@korewireless.com

KORE Investor Contact:
Charley Brady
KORE
Email: Investors@korewireless.com

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