KATERRA APPOINTS PAAL KIBSGAARD AS CHIEF OPERATING OFFICER

Former Fortune 500 Chairman and CEO Joins Fast-Growing Construction Technology Startup

Mumbai, 27^th August, 2019  – Katerra, a technology company redefining the construction industry, today announced that Paal Kibsgaard has joined as chief operating officer, a new position within Katerra. Kibsgaard was previously the chairman and CEO of Schlumberger Limited and served on Katerra’s Board of Directors for three years. He will report to Katerra’s co-founder and CEO, Michael Marks.

“Paal is one of the best operating executives I have ever met,” said Michael Marks, co-founder and CEO of Katerra. “With Katerra recently passing its fourth anniversary, we have built a solid foundation for future growth. Paal’s appointment marks a new phase for the company, and under his guidance, we will accelerate our work to transform construction through technology.

In his new role, Kibsgaard is responsible for Katerra’s U.S. operations, including architecture, engineering, manufacturing, and construction. He will drive alignment across these groups to ensure operational excellence as Katerra delivers a growing number of projects in the U.S. and expands its advanced manufacturing footprint. He will also be responsible for additional international expansion beyond the company’s current footprint in U.S., the Middle East, and India. Lastly, he will oversee the development of new construction technologies.

“Katerra is building a truly unique company to lead the overdue transformation of the global construction industry,” said Paal Kibsgaard, COO for Katerra. “I am excited to join Katerra and to become part of a very strong management team. By successfully executing on our mission, we can make quality construction more available to a larger population around the world.”

Before Katerra, Paal held a variety of global senior management positions at Schlumberger Limited including chairman and CEO; COO; president of the Reservoir Characterization Group; vice president of engineering, manufacturing and sustaining; and vice president of human resources. Earlier in his Schlumberger career, Paal was geomarket manager for the Caspian region after holding various field positions in sales and marketing, and customer support. A petroleum engineer with a master’s degree from the Norwegian Institute of Technology, Paal began his career in 1992 working for ExxonMobil. He was named best CEO in Oilfield Services and Equipment by Institutional Investor Magazine for four consecutive years from 2016 to 2019.

About Katerra

Katerra is a technology company optimizing the way buildings are designed and constructed. We are a technology company at heart.  We are bringing the tested systems approaches of industrialized global industries to bring greater efficiency to building design and construction. Founded in 2015, by Michael Marks, today Katerra has over 700+ projects in progress and 6 factories across the globe. Headquartered in Silicon Valley, we have operational offices across America, India, China and the Middle East employing over 7500 people. For more information, visit www.katerra.com.