Nevro (NVRO) Enters Into Cooperation Agreement With Engaged Capital

Nevro Corp. (NYSE: NVRO), a global medical device company that is delivering comprehensive, life-changing solutions for the treatment of chronic pain, today announced that it has entered into a Cooperation Agreement with Engaged Capital, LLC ("Engaged Capital"), pursuant to which Kirt P. Karros has been appointed to Nevro's Board of Directors ("the Board") as well as the Audit Committee of the Board effective February 20, 2024.

Mr. Karros is an accomplished finance executive with extensive experience in finance, including capital allocation and financial planning and analysis, as well as strategic planning, risk management, mergers and acquisitions, investment management and investor relations.

"We are pleased to welcome Kirt Karros to our Board. He brings a wealth of finance, strategy and investment experience that will further enhance our Board," said Keith Grossman, Chairman of Nevro's Board.

"We appreciate our collaborative and constructive engagement with Nevro's Board and members of its executive management team and are pleased to have reached an agreement to bring Kirt into the boardroom. Kirt's experience as both an investor and corporate finance professional will bring valuable experience in the areas of capital allocation and financial management that we believe will benefit all Nevro stockholders," said Glenn W. Welling, Founder and Chief Investment Officer at Engaged Capital.

Kirt Karros Bio

Since November 2015, Mr. Karros has served as Senior Vice President, Finance and Treasurer of Hewlett Packard Enterprise, and previously served as Senior Vice President, Finance and Treasurer as well as Head of Investor Relations of Hewlett Packard Company. Prior to joining Hewlett Packard Company, Mr. Karros was a Principal and Managing Director of Research at Relational Investors LLC and a member of the firm's investment committee. While at Relational Investors, he assisted in identifying, evaluating, monitoring, and engaging portfolio companies and led the research team that focused on the technology, media, telecommunications, and energy sectors. Mr. Karros currently serves as the Executive Chairman of H3C Technologies and previously served on the board of directors of both PMC-Sierra, Inc. and Innerworkings, Inc., where he was a member of the Compensation Committee for both companies.

Previously, Mr. Karros was an investment banker at Relational Advisors LLC where he advised clients on mergers and acquisitions and capital markets' financings and was an accountant at Arthur Andersen LLP. He is a Certified Public Accountant (inactive) and holds the professional designation of Chartered Financial Analyst. Mr. Karros earned his B.A. in Business Administration and Master of Science in Accounting from San Diego State University.

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