Latch Drives Additional Discipline and Efficiency, Setting the Stage For Accelerated Future Growth - Seite 2

“I’m excited to join the Latch team on this journey as we embrace a more disciplined and efficient approach to business operations,” said Lillis. “I look forward to collaborating with the talented individuals at Latch to drive financial excellence and contribute to the company's continued growth and success.”

To learn more about Latch, visit www.latch.com or email Jamie Siminoff directly at [e-mail]. For sales inquiries email Chris Peckham at [e-mail].

About Latch, Inc.

Latch makes spaces better places to live, work, and visit through a system of software, devices, and services. For more information, please visit www.latch.com.

FORWARD-LOOKING STATEMENTS

This release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "would," "will continue," "will likely result," and similar expressions. Forward-looking information includes, but is not limited to, statements regarding: Latch’s and HDW’s future products, financial performance, strategies, and operations, and the related benefits to shareholders, customers, and residents; expected growth of demand for Latch’s and HDW’s future products and their adoption by customers; Latch and HDW’s industry positions; Latch’s acquisition of HDW (the “Acquisition”), the impact of the Acquisition and related transactions on the combined company, and the operating results of the combined company; the ability of Latch to successfully integrate HDW and realize the benefits of the Acquisition, including the expected performance of the combined company’s management team; and the transition in Latch’s CEO and CFO positions. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including: (i) the effect of the completion of the Acquisition on the ability of Latch to retain and hire key personnel and maintain relationships with customers, suppliers and others with which Latch does business, or on Latch’s operating results and business generally; (ii) the risk that the Acquisition and the integration of HDW into Latch may involve unexpected costs or liabilities; (iii) the outcome of legal proceedings, if any, related to the Acquisition or otherwise, and the impact of the Acquisition thereon; (iv) Latch’s ability to regain and maintain compliance with the listing standards of Nasdaq, and the impact of the Acquisition thereon; (v) Latch’s ability to timely complete the ongoing restatement of its consolidated financial statements for 2019, 2020, 2021 and the first quarter of 2022, and the impact of the Acquisition thereon; (vi) Latch’s ability to file its delinquent periodic reports with the Securities and Exchange Commission (the “SEC”) by August 4, 2023, and the impact of the Acquisition thereon; (vii) the expected performance of Latch’s stock; (viii) Latch’s ability to implement business plans; (ix) changes and developments in the industry in which Latch competes; and (x) Latch’s response to any of the aforementioned factors. 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 our Annual Report on Form 10-K filed with the SEC on March 1, 2022, and other documents subsequently filed by Latch from time to time with the Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Latch assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. Latch does not give any assurance that it will achieve its expectations.