PRESS RELEASE

SAFE-T Receives Nasdaq Notification Regarding Minimum Bid Requirements

Oct 18, 2019

Safe-T expects to regain compliance with the minimum bid price requirement in connection with its scheduled 20:1 reverse share split

HERZLIYA, Israel, October 17, 2019 – Safe-T® Group Ltd. (NASDAQ, TASE: SFET), a provider of Secure Access solutions for on-premise and hybrid cloud environments, announced today that on October 11, 2019, the Company received a written notice (the “Notice”) from the Nasdaq Stock Market LLC indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the Company’s closing bid price for its American Depositary Shares was below $1.00 per share for the 30 consecutive business days prior to the Notice, between August 29, 2019 and October 10, 2019.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180-calendar day compliance period, or until April 8, 2020, to regain compliance with the minimum bid price requirement. During the compliance period, the Company’s American Depositary Shares will continue to be listed and traded on the Nasdaq Stock Market. To regain compliance, the closing bid price of the Company’s American Depositary Shares must meet or exceed $1.00 per share for at least 10 consecutive business days during the 180-calendar day compliance period.

If the Company is not in compliance by April 8, 2020, the Company may be afforded a second 180-calendar day compliance period. To qualify for this additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq with the exception of the minimum bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period. If the Company does not regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Company’s American Depositary Shares will be subject to delisting.

On October 7, 2019, the Company announced that its Board of Directors has approved a 20-for-1 reverse split of the Company’s share capital. The reverse split will be effective on the Nasdaq Capital Market as of market open on October 21, 2019 (due to national holiday, the first trading date for the consolidated shares on the Tel-Aviv Stock Exchange will be October 22, 2019). Safe-T expects to regain compliance with the minimum bid price requirement in connection with its scheduled reverse split, following ten consecutive trading days above $1.00.

About Safe-T®
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a provider of Zero Trust Access solutions which mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity.

Safe-T’s cloud and on-premises solutions ensure that an organization’s access use cases, whether into the organization or from the organization out to the internet, are secured according to the “validate first, access later” philosophy of Zero Trust. This means that no one is trusted by default from inside or outside the network, and verification is required from everyone trying to gain access to resources on the network or in the cloud.

Safe-T’s wide range of access solutions reduce organizations’ attack surface and improve their ability to defend against modern cyberthreats. As an additional layer of security, our integrated business-grade global proxy solution cloud service enables smooth and efficient traffic flow, interruption-free service, unlimited concurrent connections, instant scaling and simple integration with our services.

With Safe-T’s patented reverse-access technology and proprietary routing technology, organizations of all size and type can secure their data, services and networks against internal and external threats.

At Safe-T, we empower enterprises to safely migrate to the cloud and enable digital transformation.

Safe-T’s SDP solution on AWS Marketplace is available here

For more information about Safe-T, visit www.safe-t.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws.  Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses regaining compliance with Nasdaq’s continued listing requirements, the reverse split and timing and effect thereof. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties, are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 26, 2019, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

COMPANY CONTACT:
Shai Avnit, CFO
shai.avnit@safe-t.com

By Karin Tamir |
18/10/2019 |

Amir Mizhar

Founder - President & Chief Software Architect

Amir Mizhar is the Chief Software Architect of Safe-T and leads the companies vision, research, and development, delivering the industry’s best enterprise security solutions, while streamlining security into critical business workflows. Prior to founding Safe-T, Amir founded and lead eTouchware, acting as chief software architect for an innovative file sharing system with over 500,000 users. As founder and CEO of M-Technologies Amir lead the vision and creation of online collaboration tools, and online merchandising systems for retail markets. Developing commercial software programs since the age of 13, Amir is an expert ethical hacker and currently holds multiple patents in the area of data transfer over communication networks.

Eitan Bremler

Co-Founder & VP Products and Technology

Eitan Bremler is responsible for overall global Marketing and Product Management activities of Safe-T including product strategy and roadmap, product marketing, positioning, and go-to-market.In addition Eitan is responsible for working with Safe-T’s strategic customers and technology partners, leading the technology relationships with the company’s service provider, OEM, and business development partners. Eitan brings to Safe-T more than 15 years’ experience in marketing, product marketing and product management roles. Prior to joining Safe-T, he held multiple product management and product marketing positions at Radware and Radvision an Avaya company.

Shai Avnit

Chief Financial Officer

Shai Avnit leads Safe-T’s regulatory, corporate governance, and all financials affairs including taxation, accounting, budgeting, cashflows and financing. He has an extensive experience in managing financial, operational, administrative, and regulatory affairs in companies within the medical device, consumer electronics and software fields. He served as a C.F.O. and other leading financial positions in several hi-tech companies, both public and private, Including Card Guard Scientific Survival (currently LifeWatch), Valor Computerized Systems, ProSight, BriefCam and others. He holds a B.A. in Accounting & Economics as well as an M.B.A. with majors in Finance & Marketing, both from Tel Aviv University.

Dafna Lipowicz

VP of Human Resources

In her role, Dafna leads all HR activities at Safe-T, including: partnering with management team to advance and support the company’s vision and strategy, developing strategic HR plans and policies (training, compensation and benefits etc.), organizational and managers development, recruitment and welfareDafna brings to Safe-T more than 17 years of experience in various HR managerial roles, in global and complex organizations as well as in growing start-ups (such as SanDisk, Logic industries and Mantis Vision), specializing in establishing and leading HR departments, initiating and building organizational development according to company strategy, management consultant, talent management and recruitment.Dafna holds LLB in and MA in labor studies both from Tel Aviv university. She is also a certified mediator and group facilitator.

Hagit Gal, Adv.

Legal Counsel

Hagit leads Safe-T’s legal and compliance activity, providing ongoing legal advice regarding corporate and commercial matters. Hagit brings with her extensive experience from her role at B.S.D. Crown Ltd. (LSE: BSD – formerly, Emblaze Ltd.). At B.S.D., Hagit led several corporate transactions, including mergers and acquisitions, fundraising, IPOs and other equity related offerings of both publicly and privately held companies with an emphasis on the tech sector. In addition, Hagit was responsible for the direction of corporate governance practices and regulatory compliance, structure, negotiation and drafting of commercial agreements, intellectual property, human resources and payroll, investor relations and more. She holds a Bachelor of Laws (LL.B) with major in commercial and civil law from the Academic Center of Law and Science.

Marcio Lempert

Advisory Board Chairman

Over the last 25 years, Marcio Lempert has held top management positions (CEO, SVP, Managing Director, Sales Operations) in hi-tech companies all over the world. Marcio has proven the ability to turnaround, grow profitable business and lead various hi-tech disciplines: Sales, Marketing, R&D, PM, Support, Finance and Operations.Marcio has managed sales & operations for a wide range of products and technologies, such as networking, enterprise software and cyber/IT security.During his last position at Finjan Software Security, Marcio was instrumental in leading the acquisition of the company by M86 Security and subsequently the acquisition by Trustwave in 2012.After 2012, Marcio has been involved in social projects as a volunteer and mentor at several non-for-profit organizations and later served in the position of CEO of Dualis – a Social Investment Fund whose vision is the promotion of social impact through for-profit social businesses.

Eran Ziv

Advisory Board Member

Eran Ziv has 30 years of high-tech and IT/telecom industry sales, marketing and management experience. He is the founder and CEO of SecurityDAM. A RAD Group company, involved in cloud security solutions. Prior to that, he served as the President of International Systems Division at Enablence Technologies Inc. and CEO and President of Teledata Networks Ltd. Organizations dealing with NGN (New Generation Network) solutions for the wired Telco markets. Eran was appointed as Teledata Networks Ltd. CEO and President in 2006, leading an intensive turnaround, resulting of successful accusation by Enablence Technologies Inc. in 2010. Prior to that, He served as President of Allot Communications Ltd. leading the company from early stage startup to a profitable NAZDAQ IPO organization. Eran joined Allot from his previous position as Vice President of Sales and Marketing for VocalTec Ltd. Prior to that, he served as the President and Chief Executive Officer of RADLINX (a RAD Group company), which was acquired by VocalTec in 1997. Before joining RADLINX, he held senior sales and marketing positions at Lannet Ltd. and Bynet Ltd. Eran holds a B.Sc. from the Technion – Israel Institute of Technology.

Avi Rubinstein

Advisory Board Member

Avi founded Inpedio after serving as Co-founder and CEO in number of vendors, including Co-founder of Ectel, GM Ectel US Inc., leading the Ectel’s IPO in Nasdaq in 1999, Co-founder of StorWiz in 2004 (acquired by IBM in 2010), Co-founder and CEO of VideoCodes in 2004 (acquired by Thompson in 2008). Prior to Inpedio, Avi participated in 2014/2015 in the turn-around of Nice Intelligence division (Ticker NICE) into a Cyber player, acquired by Elbit in 2015. Avi serves as advisory board member in Safe-T (DMZ-protection and Intellectual Property) and CyberX (Cyber defense for Critical infrastructure).

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Shachar Daniel

Co-founder and CEO

Shachar Daniel is the CEO at Safe-T and one of its co-founders. In his role, Mr. Daniel is responsible for overall vision, company’s strategy, day-to-day operations, and growing Safe-T’s business and presence around the world.Shachar brings to Safe-T more than 14 years of experience in various managerial and business roles. Prior to joining Safe-T, he was program manager at Prime-sense, head of operations for project managers at Logic and project manager at Elbit systems. Shachar is an experienced manager with passion and high commitment for project delivery. Shachar holds an Executive MBA from the Hebrew University , MBA from the college of management academic studies in Israel and B.Sc. in Industrial Engineering from the Holon Institute Technology.

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