SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), a leading provider of smart communities and smart operations solutions for the rental housing industry, today announced the promotion of Pankaj Bansi to Chief Operating Officer (COO). Bansi, who joined SmartRent in October 2025 as Chief Transformation Officer, will now oversee operations, field services, supply chain and analytics, while continuing to lead and accelerate the Company's AI-focused enterprise transformation strategy.

The appointment reflects Bansi's significant impact since joining the team in October 2025. As Chief Transformation Officer, Bansi optimized the execution of the Company's strategic cost-efficiency programs through rigorous workflow improvements and organizational redesign. Under his leadership, SmartRent successfully streamlined its internal operations while simultaneously enhancing the customer experience and increasing satisfaction scores. By bringing its operations functions under a single leadership umbrella, SmartRent aims to further unify and automate its processes to deliver against its Vision 2028 strategy, including achieving higher levels of profitability and cash flow through accelerated growth and a more scalable and leverable operating model.

"Pankaj has been a driving force behind our strategic evolution since joining the team," said Frank Martell, President and CEO of SmartRent. "His promotion to Chief Operating Officer is a natural progression that recognizes his success in driving increasing levels of operating leverage, including contributing to a 630-basis point year-over-year expansion in gross margins. I am particularly energized by our future trajectory. Pankaj is architecting an operational framework powered by artificial intelligence, designed to facilitate accelerated decision-making and automated workflows. As we march toward the milestone of one million installed IoT units, this sophisticated infrastructure will serve as the primary engine for our long-term objectives."

Bansi is a proven business modernization leader with more than 30 years of experience at the intersection of real estate and technology. Throughout his career, including senior leadership roles at Cotality (formerly CoreLogic), Deloitte Consulting and Everest Group, he has led global mergers, acquisitions and corporate transformation initiatives valued at more than $1 billion. His expertise spans corporate strategy, organizational and process redesign, digital transformation and performance improvement.

"I am honored to take on this expanded role at such a pivotal time for SmartRent," said Bansi. "My priority is to make SmartRent an AI-first organization, one where artificial intelligence is embedded into our core workflows, field services and customer experience. Beyond increasing efficiency, we are establishing a new standard for intelligent, autonomous property management in the multifamily industry. I look forward to working with our exceptional teams to deliver sustainable value to our customers and shareholders."

For more information about SmartRent, please visit SmartRent.com.

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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SmartRent Promotes Pankaj Bansi to Chief Operating Officer