Strategic leader to drive operational excellence, scalability and support long-term growth

SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), the leading provider of smart communities and smart operations solutions for the rental housing industry, today announced the appointment of Pankaj Bansi as Chief Transformation Officer.

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A proven business modernization leader with more than 30 years of experience at the intersection of real estate and technology, Bansi will lead SmartRent’s enterprise transformation strategy. Over the course of his career, he has led global mergers, acquisitions and change initiatives valued at more than $1 billion, with deep expertise in corporate strategy, organizational and process redesign, and performance improvement.

A proven business modernization leader with more than 30 years of experience at the intersection of real estate and technology, Bansi will lead SmartRent’s enterprise transformation strategy, driving scalable processes and operational excellence to support the Company’s next phase of growth. Over the course of his career, he has led global mergers, acquisitions and change initiatives valued at more than $1 billion, with deep expertise in corporate strategy, organizational and process redesign, and performance improvement.

“Pankaj is a consummate professional with a distinguished record of building best-in-class organizations through process optimization and disciplined execution,” said Frank Martell, President and CEO of SmartRent. “His record of evolving complex operations into high-performing, data-driven enterprises will be invaluable as we continue expanding our platform and deepening our impact across the rental housing industry. Pankaj’s leadership will further enable us to sharpen our execution, leverage our market position and deliver enduring value for customers and shareholders alike.”

Bansi’s career includes senior leadership roles at Cotality (formerly CoreLogic), Deloitte Consulting and Everest Group. At Cotality, he served as Executive/Senior Vice President, managing a $600 million budget and leading strategic initiatives that unified diverse business units under a cohesive operational framework. Earlier, as Senior Manager at Deloitte Consulting and Associate Partner at Everest Group, he advised global technology and financial services organizations across corporate strategy, organizational restructuring, M&A lifecycle management, and global sourcing, delivering multimillion-dollar efficiencies and sustained shareholder value.

“SmartRent has already redefined what’s possible in multifamily housing technology,” said Bansi. “What excites me most is the Company’s ability to pair market leadership with a culture of disciplined execution and continuous improvement. That is the kind of environment where operational excellence can truly scale. I’m honored to join a team that leads the industry today and is shaping how smart solutions will enhance both new and existing properties for years to come.”

Bansi holds a Master of Business Administration in Strategy and Finance from Northwestern University’s Kellogg School of Management, a Master of Science in Structural Engineering from the University of Cincinnati, and a Bachelor of Engineering from V.J. Technical Institute in Mumbai, India.

Inducement Grant Disclosure

SmartRent also announced that, as a material inducement to Bansi entering into employment with the Company and in accordance with New York Stock Exchange Listed Company Manual Rule 303A.08, it granted inducement awards under its 2025 Inducement Equity Incentive Plan.

As provided in Mr. Bansi’s employment letter, the inducement grants consist of (i) time-based restricted stock units (“RSUs”) covering 72,992 shares of SmartRent’s Class A common stock, and (ii) time-based RSUs covering 145,985 shares of SmartRent’s Class A common stock. The RSUs for the first inducement award vest at a rate of 25% annually on each anniversary of Bansi’s start date (the “Start Date”), and the RSUs for the second inducement award vest at a rate of 50% annually on each anniversary of the Start Date, in each case subject to his continued employment through the applicable vesting date. Each inducement award is subject to the terms of the SmartRent, Inc. 2025 Inducement Equity Incentive Plan and the applicable award agreements.

About SmartRent

Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart communities solutions and smart operations solutions to the rental housing industry. SmartRent’s end-to-end enterprise ecosystem powers smarter living and working in rental housing by automating operations, protecting assets, reducing energy consumption, enhancing the resident experience and more. The company’s differentiators - purpose-built software and hardware, and end-to-end implementation and support - create an exceptional experience, with 15 of the top 20 multifamily operators and millions of users leveraging SMRT solutions daily. For more information, please visit smartrent.com.

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"Pankaj’s leadership will further enable us to sharpen our execution, leverage our market position and deliver enduring value for customers and shareholders alike,” said Frank Martell, President and CEO of SmartRent.