Arqit announces leadership transition with appointment of a new Chief Executive Officer

LONDON, Sept. 27, 2024 (GLOBE NEWSWIRE) — Arqit Quantum Inc., a leading provider of quantum secure encryption. (Nasdaq: ARQQ, ARQQW) today announced a leadership transition. Andy Leaver, an experienced software company executive and Operating Partner of Notion Capital, has been appointed Chief Executive Officer and member of the Board of Directors, effective today. Co-Founder and current CEO David Williams will step down as CEO and member of the Board of Directors. The executive transition reflects a broader transition within the company from the early development phase to the revenue and operational growth phase.

Mr. Williams’ entrepreneurial spirit was the driving force behind the development of Arqit’s symmetric key encryption technology; company formation and basic government, financial and partnership relations. His contribution has been vital in bringing the company to its current stage of development.

Mr. Leaver brings a wealth of experience to the Chief Executive Officer position, having held senior executive roles at leading software companies such as Ariba, Bazaarvoice, Hortonworks, SuccessFactors, and Workday, as well as consulting on many successful custom software scale-ups (e.g., OnFido). ). He has expertise in delivering sustainable revenue growth and scaling businesses. He is the Operating Partner of Notion Capital, Europe’s leading venture capital firm and the original backer of Arqit. Mr. Leaver is CEO and will act independently of Notion Capital as directed by the Board of Directors. As a consultant for the past six months, he has been advising Arqit on its go-to-market strategy and takes on his new role with an understanding of the challenges and opportunities ahead for the company.

Arqit co-founder David Williams said: “I am extremely proud of Arqit’s ongoing success and see a bright future for the company. It has been a pleasure getting to know Andy over the last six months and he has already proven invaluable. “I am confident he has the right mix of skills to guide Arqit through the next chapter of his journey.”

CEO Andy Leaver added: “The threat quantum computers pose to current encryption is well documented, and Arqit is doing something truly transformative in its field. There are many opportunities ahead and I look forward to leading the company through this critical period. “On behalf of myself and the Board of Directors, I would like to thank David for his leadership and determination, which has laid the foundation for Arqit’s success going forward.”

Notes to Editors

About Arqit

Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit) provides a unique encryption software service that secures the communications links of any networked device, cloud machine, or data at rest against both current and future forms of encryption attacks (even externally) . a quantum computer. It is compliant with NSA CSfC Components and meets the demands of NSA CSfC Symmetric Key Management Requirements Annex 1.2. and RFC 8784, Arqit’s Symmetric Key Agreement Platform uses a lightweight software agent that allows endpoint devices to locally generate encryption keys collaboratively with any number of other devices. Keys are computationally secure and facilitate Zero Trust Network Access. It can generate an unlimited number of keys of any group size and refresh rate and orchestrate secure entry and exit of a device in a group. The agent is lightweight and will therefore run on the smallest endpoint devices. The product is included in a growing portfolio of granted patents. It also operates in accordance with standards that eliminate the need for customers to disruptively dismantle and replace their technology. Arqit won two GSMA Global Mobile Awards at Mobile World Congress 2024, the CTO Choice Award for Best Mobile Security Solution and Superior Mobile Technology; It was recognized for its groundbreaking innovations at the 2023 Institute of Engineering and Technology Awards and won the National Cyber ​​Award. Awards’ Cyber ​​Innovation Award and the Cyber ​​Security Awards’ Cyber ​​Security Software Company of the Year Award. Arqit is certified to ISO 27001 Standard. www.arqit.uk

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Caution Regarding Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact may be forward-looking statements. These forward-looking statements are based on Arqit’s expectations and beliefs regarding future events and involve risks and uncertainties that could cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqit’s control. Forward-looking statements contained in this communication or elsewhere speak only as of the date they are made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect them. Except as required by law, Arqit has no duty and does not intend to update or revise any forward-looking statements in this communication or elsewhere after the date of this communication. In light of these risks and uncertainties, investors should keep in mind that the results, events or developments discussed in forward-looking statements made in this communication may not occur. Uncertainties and risk factors that may affect Arqit’s future performance and cause results to differ from forward-looking statements in this release include, but are not limited to: (i) the outcome of any legal action that may be instituted against Arqit, (ii) Arqit’s securities the ability to maintain the listing of its securities on a national securities exchange, (iii) changes in the competitive and regulated industries in which Arqit operates, differences in operating performance among competitors and changes in laws and regulations affecting Arqit’s business, (iv) business plans, forecasts and other the ability to implement expectations and identify and realize additional opportunities, (v) the potential inability to successfully deliver Arqit’s operational technology, (vi) the risk of disruption or failure of Arqit’s information technology and communications system, (vii) Arqit’s intellectual property and (viii) other risks and uncertainties set forth in the sections titled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” of Arqit’s annual report on Form 20-F (“Form 20-F”), as of November 21, 2023. It was filed in filings with the U.S. Securities and Exchange Commission (“SEC”) and subsequently with the SEC. Although the list of factors discussed above and in Form 20-F and other SEC filings is considered representative, such a list should not be considered a complete statement of all potential risks and uncertainties. Factors not listed may present significant additional impediments to the achievement of forward-looking statements.