Update regarding management transition

21 March 2023

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulations

Trustpilot Group plc

Update regarding management transition

Peter Holten Mühlmann, Trustpilot founder and CEO, has indicated to the Board that he wishes to transition into the role of founder and non-executive director where he will be an evangelist and brand ambassador.

Peter intends to focus his efforts and activities on continuing Trustpilot's thought leadership in Trust and Transparency, while continuing to work very closely with the business helping to ensure it succeeds in its mission to be the most trusted and most used online review brand, globally.

Following Peter's decision, the Board expects to commence a search process for a new CEO. Meanwhile, Peter will continue in his current role as CEO until the search has concluded, ensuring an orderly handover, before moving into a non-executive role.

Zillah Byng-Thorne, Chair Designate, commented, "Peter is a visionary entrepreneur, he founded Trustpilot and has been instrumental in building it into the successful, global business it is today. He will undoubtedly be a crucial asset to the Company as it continues to grow, and as we continue to execute on our strategy, helping to ensure that Trustpilot does indeed become a universal symbol of Trust."

Peter Holten Mühlmann, founder and CEO, commented, "Trustpilot is a fantastic business with an exciting, global market opportunity, and I am truly thrilled to have the chance to focus my efforts and skills on promoting our brand and helping to drive the Trust agenda around the world. I have felt for some time that this is where I can make the greatest contribution and add the most value to Trustpilot in the years to come."

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About Trustpilot:

Trustpilot was founded in 2007 with a vision to create an independent currency of trust.

A digital platform that brings businesses and consumers together to foster trust and inspire collaboration. We are free to use, open to everybody and built on transparency.

Trustpilot hosts reviews to help consumers shop with confidence and deliver rich insights to help businesses improve the experience they offer. The more consumers use our platform and share their own opinions; the richer the insights we offer businesses; and the more opportunities they must earn the trust of consumers, from all around the world.

Trustpilot has over 900 employees and is headquartered in Copenhagen, with operations in London, Edinburgh, New York, Denver, Melbourne, Berlin, Amsterdam, and Milan.