Rigetti Computing Announces COO Leadership Transition

Rigetti & Co, LLC

BERKELEY, Calif., April 19, 2022 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (“Rigetti” or “the Company”) (NASDAQ: RGTI), a pioneer in hybrid quantum-classical computing systems, today announced that Taryn Naidu, who served as COO, is no longer with the company. Mr. Naidu’s departure is not related to any matters relating to the Company’s financial condition, reported financial results, internal controls or disclosure controls and procedures.

The company recently made several key hires, deepening its expertise and leadership in finance, go-to-market, operations, security and talent management, and has no immediate intention to appoint a new Chief Operating Officer. Mr. Naidu’s responsibilities will be assumed by current management, including Brian Sereda, Chief Financial Officer; Greg Peters, Chief Revenue Officer; Jackie Kaweck, SVP Human Resources; and Lou DeSorbo, head of security.

“We continue to build a world-class leadership team in our quest to create an iconic, category-defining company,” said Chad Rigetti, Founder and CEO. “We are excited about our next phase of growth as we focus on bringing powerful new quantum processors to market through our Quantum Cloud Services platform and unlocking high-impact applications for enterprises and governments. We look forward to updating the investment community on our progress during our first quarter earnings call scheduled for mid-May.

About Rigetti
Rigetti is a pioneer in full-stack quantum computing. The company has been operating quantum computing in the cloud since 2017 and serves global enterprises, governments and research customers through its Rigetti Quantum Cloud Services platform. The company’s proprietary quantum classical infrastructure provides ultra-low latency integration with public and private clouds for convenient high-performance quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Rigetti was founded in 2013 by Chad Rigetti and today employs over 160 people with offices in the US, UK and Australia. Learn more at www.rigetti.com.

Forward-looking statements
Certain statements contained in this communication may be deemed to be forward-looking statements, including, but not limited to, responsibilities relating to the management of the Company’s business and operations, including the Company’s hiring plans; the growth of the Company; the company’s ability to bring powerful new quantum processors to market through its Quantum Cloud Services platform and unlock high-impact applications for businesses and governments; and other statements that are not historical facts. Forward-looking statements generally relate to future events and can be identified by words such as “pro forma”, “may”, “should”, “could”, “could”, “plan”, “possible”, “plan”. “, “strive”, “budget”, “plan”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict” , “potential”, “pursue”, “anticipate”” or “continue”, or the negatives of these terms or their variants or similar terminology. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are based on estimates and assumptions which, although believed to be reasonable by Rigetti and its management, are inherently uncertain. Factors that could cause actual results to differ materially from current expectations include, but are not limited to: Rigetti’s ability to achieve milestones, technological advancements, including with respect to its roadmap, helping to unlock the quantum computing and to develop practical applications; the potential of quantum computing; the success of Rigetti’s partnerships and collaborations; Rigetti’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be brought against Rigetti or others relating to its business combination with Supernova Partners Acquisition Company II, Ltd. (the “Business Combination”) or other matters; the ability to meet stock exchange listing standards; the risk that the business combination will disrupt Rigetti’s current plans and operations; the ability to recognize the expected benefits of the business combination, which may be affected by, among other things, competition, Rigetti’s ability to grow and manage growth profitably, to maintain customer and supplier relationships and retain its management and key employees; costs associated with the business combination and operating as a public company; changes in applicable laws or regulations; the possibility that Rigetti will be adversely affected by other economic, business or competitive factors; Rigetti’s expense and profitability estimates; changes in the markets in which Rigetti competes; Rigetti’s ability to execute its technology roadmap; Rigetti’s ability to execute its strategic initiatives, expansion plans and continue to innovate its existing services; the impact of the COVID-19 pandemic on Rigetti’s business; the intended use of the proceeds of the business combination; Rigetti’s adequacy of liquidity; adverse conditions in Rigetti’s industry, global economy or global supply chain, including fluctuations in financial and credit markets, international trade relations, political unrest, natural disasters, wars (such as the conflict involving Russia and Ukraine) and terrorist attacks; and other risks and uncertainties set forth in the section titled “Risk Factors” and “Caution Regarding Forward-Looking Statements” in the company’s Form S-4 record, Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on March 7, 2022, and other documents filed by the Company from time to time with 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 place undue reliance on any forward-looking statements, and the Company undertakes no obligation and does not intend to update or revise such forward-looking statements other than as required by applicable law. . The Company does not guarantee that it will achieve its expectations.

Lauren Rugani
Rigetti Computing, Inc.
press@rigetti.com

Polly Pearson
Investor Relations
RGTI@investorrelations.com

Sherry J. Basler