Exhibit 99.1
5 December 2023
CEO
Share Sale
San Francisco area-based Life360, Inc. (Life360 or the Company) (ASX:360) Co-Founder and Chief
Executive Officer, Chris Hulls, has sold a small percentage of his shares in the Company, equivalent to approximately US$4 million.
Mr Hulls said:
I am undertaking this sale to cover personal tax obligations related to the June 2023 settlement of my previously disclosed share-backed loans and this transaction. The taxes are due beginning in January 2024 and as a result, this is the last
trading window for me to sell to fund these obligations. As the overwhelming majority of my assets are in shares of Life360, this is my primary means to cover this liability.
While I do not have any other major liabilities coming due, I plan to slowly diversify my holdings over the next five years in-line with US market norms, where founders with significant concentration in their companies regularly implement conservative diversification plans. After this five-year period, I still expect the majority of my
net worth will remain in Life360 shares.
I am discussing a process with the Company to provide market visibility into any future transactions while
also complying with ASX and SEC regulations. In coming weeks, I will also be transferring additional shares into trusts for family members which will appear as a change in my holdings, however will not result in any additional tax liabilities or
share sales.
Investor Conference Call
An
Investor Conference Call with Co-Founder and CEO Chris Hulls will be held today at 9.30am AEDT Tuesday 5 December (Monday 4 December 2023 US PT at 2.30pm). The call will be held as a Zoom audio
webinar.
Participants wishing to ask a question should register and join via their browser here.
Participants joining via telephone will be in a listen only mode.
Dial in details
Australia : +61 2 8015 6011
US : +1 669 444 9171
Other countries : details
Meeting ID : 915 8721 8157
A replay will be available
after the call at https://investors.life360.com
Authorisation
John Coghlan, Chairman of Life360 authorized this announcement being given to ASX.
About Life360
Life360 operates a platform for
todays busy families, bringing them closer together by helping them better know, communicate with, and protect the pets, people and things they care about most. The Companys core offering, the Life360 mobile app, is a market leading app
for families, with features that range from communications to driving safety and location sharing. Life360 is based in the San Francisco area and had approximately 58 million monthly active users (MAU) as of September 30, 2023 located in
more than 150 countries. For more information, please visit life360.com.
Tile, a Life360 company, locates millions of unique items every day by giving
everything the power of smart location. Leveraging its superior nearby finding features and vast community that spans over 150 countries, Tiles cloud-based finding platform helps people find the things that matter to them most. In addition to
trackers in multiple form factors for a variety of use cases, Tiles finding technology is embedded in over 55 partner products across audio, travel, wearables, smart home, and PC categories. For more information, please visit Tile.com.
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Life360, Inc. | ARBN 629 412 942 | 1900 S. Norfolk St, Ste 310, San Mateo, CA 94403 | investors.life360.com |
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