Press Release

LG partners with INNOVEST to nurture young talent in MEA

Investment in innovation is key to enhancing national competitiveness

DUBAI, March 7, 2019 — With an aim to foster innovation and spur young talent, LG Electronics (LG) has partnered with business incubator INNOVEST, supporting the UAEpreneurs Initiative.

With a regional network of entrepreneurs, service providers and fund investors, INNOVEST helps organizations during their startup and growth stage. In doing so, the organization aims to help them grow into fully-fledged companies with regional and global presence.

As part of the initiative, LG and INNOVEST recently held an Investor Day event, aimed at empowering young entrepreneurs with the tools needed to scale up their business ideas. A select range of entrepreneurs were invited to meet angel investors and industry partners, pitching their ideas and gaining expert knowledge.

LG and INNOVEST aim to not only showcase young talent, but also prepare them for the realities of life as a working business. Investor Day participants have also been invited to meet LG’s senior management at the Head Office, where they will have the exclusive opportunity to tour the facilities, share their experiences of entrepreneurship and discuss the importance of innovation.

Top Startups at Investor Day 2019 included:

• Localyser – a review management web application for restaurants
• CharterClick – a real-time online yacht charter booking platform
• Fittpass – an online fitness marketplace for passes and memberships
• Teacher’s Hub – a recruitment platform connecting schools and teachers
• Dakakenna – an e-commerce platform localized for Iraqi consumers
• AlSaree3 – an online food delivery application in Baghdad and Dubai
• Tripdizer – a platform with personalized itineraries for travelers
• Xpence – the Gulf region’s first neobank, designed for entrepreneurs
• Foorera – a cloud-based platform to help commuters carpool safely
• Trift – a marketplace of trips curated by expert travelers
• WeDeliver – a crowdsourced delivery service for businesses in MENA
• Mix&Musesli – a tailored mix to help people make healthier food choices
• Yanzo – a customer request handling service through texting

Commenting on Investor Day and LG’s partnership with INNOVEST, Mr. Yong Geun Choi, President of LG Electronics Gulf stated: “Through our partnership with INNOVEST, we aim to nurture young talent and secure the futures of the very people who will boost our local economies. Innovation is crucial to aiding success and there is untapped potential in the youth of today. If the right tools are implemented from an early stage, a business can be given the care and attention it deserves to help it develop.

By supporting innovation, we are able to open up new discoveries that will help enhance our experience of the world – supporting both the organization at an operational level and the wider community as a whole. Today, we need innovators more than ever before to help our nations thrive within an increasingly competitive marketplace. I believe that our collaboration with INNOVEST is a step in the right direction, converting ideas and potential into inspirational realities.”

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About LG Electronics, Inc.

LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 77,000 people working in 125 locations around the world. With 2017 global sales of USD 55.4 billion (KRW 61.4 trillion), LG comprises five business units ― Home Appliance & Air Solutions, Home Entertainment, Mobile Communications, Vehicle Component Solutions and Business Solutions ― and is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. For more news and information on LG Electronics, please visit www.LGnewsroom.com.

Media Contacts

LG Electronics Gulf FZE

Karima Karmouzi

Tel: +9714-350 9500

Fax: +9714-334 4304

Email: karima.karmouzi@lge.com

LG-One

Aaron Budwal

Email: aaron.budwal@lg-one.com