Rigetti Computing Announces President Transition

BERKELEY, Calif., July 06 12, 2022 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (“Rigetti” or “the Company”) (NASDAQ: RGTI), a pioneer in hybrid quantum-classical computing systems, today announced General Peter Pace, Chairman of the board of directors of the Company (the “Board”), will step down. Director Cathy McCarthy has been appointed Chair of the Board. Director Gail Sandford has been appointed to the Nominating and Corporate Governance Committee and the Audit Committee. All position changes will take effect on July 15, 2022.

“I would like to thank General Pace on behalf of our Board of Directors and our management team for their many contributions to Rigetti over the years,” commented Chad Rigetti, Founder and CEO of Rigetti Computing. “Throughout Pete’s tenure, Rigetti has progressed significantly, from its early stages in the private markets to a Nasdaq listing and building relationships with some of today’s leading government and commercial organizations. We thank Pete for his service to Rigetti and wish him all the best for the future.

“Rigetti’s mission to build the most powerful computers in the world to help solve humanity’s most important and pressing problems has always inspired me,” commented General Pace. “For over half a decade, I have had the honor and pleasure of working with Chad and the rest of the Board. Today, family matters require my attention, otherwise I would continue to proudly serve Rigetti and its shareholders.

Ms. McCarthy has served on Rigetti’s Board of Directors since July 2021 and is currently President and CEO of strategy consulting firm Cross Tack Consulting. Ms. McCarthy has extensive executive-level experience in public and private companies, including SM&A, a publicly traded consulting firm specializing in deal capture and program support services for aerospace clients. , defence, homeland security and information services. From 2009 to 2013, Ms. McCarthy served on the board of directors, compensation committee and audit committee of Solta Medical, Inc., prior to the company’s merger with Valeant Pharmaceuticals International, Inc. She is also currently a member of the Board of Directors and Chairman of the Audit Committee of Middleby Corporation, a publicly traded global leader in the restaurant industry.

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 business and operations of the Company, including with respect to the Board of Directors of the Society, and the mission of Rigetti. Forward-looking statements generally relate to future events and can be identified by words such as “pro forma”, “may”, “should”, “could”, “might”, “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 such 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 in the Company’s Form 10-Q for the three months ended March 31, 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.

Rebecca Malamud
Rigetti Computing, Inc.

Polly Pearson
Investor Relations

Sherry J. Basler