PowerFleet Inc. (PWFL) Appoints Andrew Martin to its Board

Powerfleet, Inc. (Nasdaq: PWFL) today announced that Andrew Martin of Private Capital Management, LLC ("PCM"), one of the company's largest shareholders, has joined its board of directors as an independent member of the board.

Mr. Martin is a Partner and member of the investment research team at PCM, a leading small-cap value manager headquartered in Naples, Florida. Mr. Martin joined PCM in 2013 from H.I.G. Capital's hedge fund unit, where he was a senior research analyst for the firm's value-oriented long/short equity fund. Prior to H.I.G. Capital, Mr. Martin worked at Polen Capital Management, Fine Capital Partners, as well as Credit Suisse First Boston.

"We are excited to welcome Andrew Martin to the Powerfleet board," said Steve Towe, Chief Executive Officer at Powerfleet. "Andrew's deep understanding of the Powerfleet evolution and experience in increasing shareholder value will be vital to Powerfleet as we pursue the growth strategy for our newly scaled business and unlock additional value creation opportunities for our shareholders."

"I am delighted for Andrew to join our new board of directors," added Michael Brodsky, Chairman of Powerfleet's board. "I am confident he will add valuable perspective to the Powerfleet board."

"As a large shareholder with a long-term position in the company, it is highly energizing to be joining the Powerfleet board of directors," said Mr. Martin. "I am thrilled to be involved at such an exciting time for the company, just weeks after the business combination with MiX Telematics. I look forward to partnering with the rest of the board, Steve, and his team to help realize the short-term and long-term goals of the business."

Mr. Martin holds an MBA from Columbia Business School. He received his Bachelor of Science in Applied Economics and Business Management from Cornell University.

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