Quantum Announces Appointment of Corporate Finance Veteran Christopher Neumeyer to Board of Directors

Neumeyer’s extensive experience in corporate finance and governance will bring a unique shareholder perspective to the board

SAN JOSE, CA., August 22, 2022 /PRNewswire/ — Quantum Corporation (Nasdaq: QMCO) (Quantum or the Company) today announced that Mr. Christophe D.Neumeyer joined its board of directors.

Quantum Logo (PRNewsfoto/Quantum Corp.)

Mr. Neumeyer joins Quantum’s Board of Directors as the company becomes more focused on executing strategic initiatives designed to accelerate EBITDA growth. His addition to the Board of Directors underscores Quantum’s commitment to improving its financial performance and shareholder value. Mr. Neumeyer has been a non-voting member of the Board since 2016.

“We are very pleased to officially incorporate Chris’ experience into our Board of Directors,” said Jamie Lerner, Chairman and CEO of Quantum. “We have already benefited from Chris’ insights and feedback over the past few years in his watchdog role. We believe he will continue to bring valuable shareholder insights to our oversight and decision-making processes of the Board of Directors, and to enhance our efforts to integrate shareholder voices into our business.”

“I am delighted to join Quantum’s Board of Directors. I look forward to working closely with the other directors and Quantum’s management team to unlock value that I don’t believe the current share price reflects,” commented Neumeyer.

Mr. Neumeyer is Executive Vice President and Portfolio Manager at Pacific Investment Management Company LLC (PIMCO). Funds managed by PIMCO are currently among the largest investors in Quantum, beneficially owning an aggregate of 16,773,611 shares and warrants, or 15.4% of the issued and outstanding common shares of the Company (assuming the exercise of the warrants held by these funds) at August 12022. Since joining PIMCO in 2010, Mr. Neumeyer has held several positions and is currently responsible for identifying, originating and structuring corporate investments across the capital structure in a variety of industries for various investment funds managed by PIMCO.

Prior to his tenure at PIMCO, Mr. Neumeyer held various positions within the Blackstone Group and worked in the investment banking division of Credit Suisse First Boston.

Investor Relations Contacts:
Shelton Group
Leanne Sievers | Brett Perry
: 949-224-3874 | 214-272-0070
Email: sheltonir@sheltongroup.com

Forward-looking information

Statements in this press release that are not historical in nature constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (“Exchange Act”). These forward-looking statements are largely based on our current expectations and estimates regarding future events and financial trends affecting our business. These forward-looking statements include, but are not limited to, the anticipated use of proceeds from the Rights Offering, growing demand for our storage solutions and the anticipated benefits of a stronger balance sheet.

These forward-looking statements can be identified by the use of words and phrases such as “expects”, “believes”, “may”, “could”, “believes”, “expects”, “expects”, ” intends”, “may”, “plans”, “projects”, “targets”, “will” and similar expressions or variations or the negative of these similar terms and expressions. Additionally, statements regarding future matters and other statements regarding matters that are not historical are forward-looking statements, including, but not limited to, statements regarding the anticipated benefits and impact of the arrival of Mr. Neumeyer on the Board of Directors and as a director. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to known and unknown business, economic and other risks and uncertainties that may cause actual results, levels of activity, actual performance or achievement. differ materially from those expressed or implied by any forward-looking statement. The risks and uncertainties that could cause actual results to differ materially from those discussed in these forward-looking statements include, but are not limited to, the following risks: risks relating to meeting the many challenges facing our business ; the potential impact of the COVID-19 pandemic on our business, including potential disruptions to our supply chain, employees, operations, sales and general market conditions; the competitive pressures we face; the risks associated with the execution of our strategy; the distribution of our products and the effective provision of our services; developing and transitioning new products and services and improving existing products and services to meet customer needs and respond to emerging technology trends; the price performance of our shares and general stock market volatility; the impact of political and economic instability and geopolitical tensions, including the outbreak of hostilities, wars or other acts of aggression, such as the current conflict in Ukraine, terrorism and political unrest, boycotts, trade restrictions, government sanctions and other trade restrictions; the outcome of any claims and disputes; and other risks that are described herein, including, but not limited to, those items discussed under “Risk Factors” in our filings with the SEC, including our Annual Report on Form 10-K filed with of the SEC on June 8, 2022 and our quarterly report on Form 10-Q filed on August 4, 2022. We do not intend to update or change our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law or regulation.

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SOURCEQuantum Corp.

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