Neonode Set to Join Russell 2000® Index

STOCKHOLM, June 3, 2025 /PRNewswire/ -- Neonode Inc. (NASDAQ:NEON) (the "Company" or "Neonode") will be added as a member of the U.S. small-cap Russell 2000 Index, effective after the U.S. market opens on June 30 as part of the 2025 Russell indexes reconstitution. Neonode, a provider of touch technology and optical sensing solutions for technologically demanding and regulated industries, debuted on the NASDAQ stock exchange in 2012 under the stock ticker symbol "NEON."

Membership in the Russell 2000 Index, which remains in place for one year, is based on membership in the broad-market Russell 3000® Index. Neonode's stock will also be automatically added to the appropriate growth and value indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. The Russell US Indexes can be used as performance benchmarks, or as the basis for index-linked products including index tracking funds, derivatives and Exchange Traded Funds (ETFs).

"Our inclusion in the Russell 2000 Index is an encouraging milestone for Neonode as we position ourselves for future success. We welcome the enhanced visibility it gives us within the investor community and look forward to sharing our progress as we continue our journey toward innovation leadership and sustainable business growth," says Daniel Alexus, President and Chief Executive Officer at Neonode.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.

"The Russell indexes have continuously adapted to the evolving dynamic US economy, and it's crucial to fully recalibrate the suite of Russell US Indexes, ensuring the indexes maintain an accurate representation of the market. The transition to a semi-annual reconstitution frequency from 2026 will ensure our indexes continue to represent the market and maintain the purpose of the index as a portfolio benchmark," comments Fiona Bassett, CEO of FTSE Russell, an LSEG Business.

For more information on the Russell 2000 Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

For more information, please contact:

Chief Financial Officer

Fredrik Nihlén

E-mail: [email protected]

Phone: +46 703 97 21 09

President and Chief Executive Officer

Pierre Daniel Alexus

E-mail: [email protected]

Phone: +46 767 60 29 90

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SOURCE Neonode