Stockholm, Sweden, 12 March 2026 - Hexagon AB today announced the appointment of the board of directors of its potential spin-off company, Octave Intelligence plc. The Octave Board brings together senior leaders with experience building and operating global technology platforms, scaling enterprise software businesses, strengthening operational resilience, and governing public companies across industrial and digital markets:

Brett D. Watson, Chair of the Board of Directors is President of Koch Equity, LLC, overseeing several Koch-affiliated investment groups and their diverse global portfolios. Mr. Watson is also an officer of Koch, Inc., where he serves as Vice President, Equity Development with responsibility for corporate development and M&A activity across the firm. Mr. Watson brings extensive experience in capital allocation, business scaling, and board leadership.  He currently serves on the boards of Getty Images, Infor, MITER Brands, Molex, and Transaction Network Services. Mr. Watson previously served on the board of Hexagon AB from 2021 until 2024.

Magnus Ahlqvist, Director has served as President and Chief Executive Officer of Securitas AB since 2018, leading significant transformations across the company's global service operations. Mr. Ahlqvist brings deep international operating experience from prior senior leadership roles at Motorola Mobility, Sony and Ericsson, as well as extensive expertise in global business management. He is also chairman at the International Security Ligue.

David J. Hollister, Director is a seasoned financial executive with extensive experience in financial management, operations, and investment oversight. He previously served in senior leadership roles at Bentley Systems, including Chief Financial Officer, Chief Operations Advancement Officer and Chief Investment Officer, and currently serves on the board of iDEAL Semiconductor and the advisory board for InEight Software. Mr. Hollister is a Certified Public Accountant.

Meerah Rajavel, Director is Chief Information Officer of Palo Alto Networks and a recognized leader in cybersecurity, information technology, and digital transformation. Ms. Rajavel brings extensive operating and governance experience from prior chief information officer roles and public company board service, including service on audit and compensation committees.

Jill D. Smith, Director is a seasoned leader with over 30 years of experience leading and governing global technology and data-driven companies, including having previously served as Chair of the board of AspenTech. Ms. Smith is a former chief executive officer and currently serves on the boards of Securitas AB, Evolent Health, Check Point Software, and MDA Space. She was previously a board member of Hexagon AB from 2013 until 2017.

Mattias Stenberg, Director is Chief Executive Officer of Octave and was previously President of Hexagon's Asset Lifecycle Intelligence and Safety, Infrastructure & Geospatial divisions. Mr. Stenberg held leadership roles in strategy, M&A, and corporate development at Hexagon AB and currently serves as a board member at Sinch AB.

All of the above members of the Octave Board, other than Mr. Stenberg, are expected to be considered independent under the listing rules of the Nasdaq Global Select Market and Nasdaq OMX Stockholm.

"Octave is entering the market with a Board that reflects the scale, responsibility, and operational rigor required to support customers running mission critical assets," said Brett Watson, Chair of the Board, Octave. "This group brings real operating experience across industrial markets and software platforms, along with disciplined capital allocation and governance. We share the goal of building a resilient, independent company dedicated to delivering durable, long-term value creation."

"It is a privilege to work with a Board of this caliber," said Mattias Stenberg, Chief Executive Officer and director of Octave. "Their depth of experience raises the bar on how we operate and ultimately makes us better partners to the customers who depend on our platforms every day." 

The Board will support Octave's strategy to deliver solutions that give asset owners and operators the intelligence and insight to improve safety, uptime, sustainability, and long-term performance across energy, infrastructure, manufacturing, utilities, and public sector markets. The separation, spin-off and listing remain subject to this ongoing process and final approval of the Hexagon board and shareholders, as well as being subject to other conditions, consents and regulatory approvals. There can be no assurance that a separation, spin-off or listing will occur.

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FOR MORE INFORMATION, CONTACT:  

Octave:
Elizabeth Chwalk, VP, Investor Relations, Octave +1 401 749 - 0278,  elizabeth.chwalk@hexagon.com

Hexagon:
Tom Hull, Head of Investor Relations, Hexagon AB, +44 7442 678 437, ir@hexagon.com
Anton Heikenström, Investor Relations Manager, Hexagon AB, +46 8 601 26 26, ir@hexagon.com