Edgio Announces New Board of Directors

Edgio, Inc. (NASDAQ: EGIO) (the “Company”), the platform of choice for speed, security, and simplicity at the edge, today announced that it has reconstituted its Board of Directors. The now five-member Board includes three newly appointed, highly qualified directors: Ken Traub, Frank Verdecanna and Mio Babic. Ken Traub has also been named as Chairman of the Board.

These additions enrich the Board with diverse global expertise in corporate governance, cybersecurity, digital media, and strategic growth. Simultaneously, seven existing directors, David Peterschmidt, Walter Amaral, Scott Genereux, Patricia Hadden, Doug Bewsher, Reed Rayman, and E-Fei Wang, have resigned their positions on the Edgio Board. The resignations were not the result of any disagreements with the Company.

Edgio CEO, Bob Lyons, and current Board member, Dianne Ledingham will continue to serve as Board members.

These Board changes follow the Company's recently completed transaction with Lynrock Lake Master Fund LP (“Lynrock”) in which Lynrock provided the Company with $66 million of new financing and exchanged its existing convertible notes due 2025 for new convertible notes due 2027. As part of the exchange agreement, Edgio agreed to implement certain governance changes, including a reduction in the number of Board members from nine to five, and the appointment of two new independent directors mutually acceptable to Edgio and Lynrock. This new Board will leverage its deep expertise to help the company build on its position as an edge-enabled solutions provider.

As of December 4, the Edgio Board includes Edgio CEO Bob Lyons, and the following individuals:

Ken Traub – Mr. Traub has over 30 years of experience as a CEO, chairman, director, investor, and consultant in public companies, with a successful track record of driving strategic, financial, operational and governance improvements to enhance shareholder value. Since 2019, Mr. Traub has been serving as the Managing Partner of Delta Value Advisors, a strategic consulting and investment advisory firm, specializing in corporate governance and turnarounds. Mr. Traub also currently serves on the Boards of Directors of Tidewater, Inc. (NYSE: TDW) and American Rare Earths Limited (OTCQB: ARRNF).