Altium Limited ASX Announcement

16 January, 2014

A L T I U M L I MI T E D ACN 009 568 772

3 Minna Close

Belrose NSW 2085

Australia

Investor Relations

Contact Details:

Alison Raffin

Company Secretary

t +61 2 9410 1005 f +61 2 9410 0509

Mr Aram Mirkazemi to succeed Kayvan Oboudiyat as Altium Limited CEO

Sydney, Australia - 16 January 2014 - The Board of Altium Limited today announces that Mr Kayvan Oboudiyat will retire as Chief Executive Officer and a Director of the company and that Mr Aram Mirkazemi will succeed him effective 16 January 2014.

In making the announcement, Altium Chairman Mr Sam Weiss acknowledged the outstanding contribution Mr Oboudiyat has made since joining the Company in 1997 as Managing Director after a successful career as a senior executive within Telstra's International Business Unit. Kayvan became Altium Chief Executive Officer in 1999 and Joint Chief Executive Officer in 2001 before his appointment as Executive Vice Chairman in 2005. Kayvan was appointed Chief Executive Officer in 2012.
"Kayvan was instrumental in leading Altium's IPO in 1999 and has played a key role in driving Altium's development of new business opportunities. More recently, Kayvan has led the company through significant change in a period of transformation that has seen the restoration of shareholder value through the delivery of products and services that satisfy customer needs. This has resulted in the second successive year of double-digit growth through fiscal 2013."
"Kayvan leaves Altium a much stronger company and one that is well positioned for continued growth after a long planned and well managed leadership transition" said Mr Weiss.
Mr Oboudiyat indicated that his decision to retire was difficult. "I have been fortunate to lead one of the world's great electronic design software companies. Deciding the right time to retire was never going to be easy. However, after more than 15 years with Altium, at a senior executive level, I believe now is the right time to pass the leadership baton."
"I am very proud of the achievements of Altium and our people. Altium remains well positioned to continue the momentum achieved through the full execution of the company's Strategic Plan."

Mr Mirkazemi has served as Altium's Chief Technology Officer and is an Executive Director of the Board. Mr Mirkazemi brings to the role over 20 years' experience at executive and senior management level at the forefront of CAD software development and web-based technology, and has extensive experience in directing complex software engineering projects and products. Mr Mirkazemi holds a Bachelor of Engineering degree from the University of Tasmania.
Mr Mirkazemi joined Altium in 1991 serving as Director of Research and Development from 1992 until
1999 and as a member of Altium's Board from 1992 to 2000. Following Altium's successful IPO in 1999
Mr Mirkazemi left to explore his interest in web based software systems and went on to found Morfik Technology. Mr Mirkazemi returned to Altium in 2010 as part of the Morfik acquisition and was appointed as Head of Engineering. Since his return to Altium, Mr Mirkazemi has been a driving force leading Altium's transformation to focus on building financial strength while pursuing customer-centric product development.
"In succeeding Kayvan, Aram brings a unique combination of strong industry knowledge, global management experience and deep product development understanding to the CEO role. Aram is the architect of and champion for Altium's product development strategy of Closing the Capability Gaps with high-end design tools. He also has been at the forefront of the initiation of strategic partnerships within the EDA industry, and with chip vendors and part suppliers to assist Altium to grow its market share by expanding its reach into the upper and lower market segments."
"The Board has decided that Aram is the right person to succeed Kayvan and lead Altium to take full advantage of the opportunities that lie ahead", said Mr Weiss.
Details of Mr Mirkazemi's employment contract, including remuneration arrangements are provided below.

Key Terms of Chief Executive Officer's Contract Commencement Date

Effective as from 16 January 2014.

Term

Continuing, unless terminated by the company or by Mr Mirkazemi on six months' notice.

Fixed Remuneration

US$400,000 (inclusive of superannuation.) The remuneration is to be reviewed by the Board annually.

Short Term Incentive (STI)

Beginning 1 July 2014 for the 2015 financial year, a Short Term Incentive of US$200,000 will be payable if certain performance hurdles are achieved. The performance hurdles will include financial targets and personal goals as determined by the Board.

Long Term Incentive (LTI)

The company intends to operate a Long Term Incentive Plan. Mr Mirkazemi, who is the largest shareholder in the Company, has advised the Company that he does not intend to participate in the Plan but he reserves the option to participate in the future.

Investor Relations contact details:

Sam Weiss - Chairman
Alison Raffin - Company Secretary
Ph:+61 2 9410 1005
ENDS

About Altium

Altium Limited (ASX:ALU) creates electronic design software based on the belief that anyone who wants to create electronic products that make a difference should be able to do so. Altium's unified electronics design environment links all aspects of electronics product design into a single application that is priced to be as affordable as possible. This helps electronics designers break down barriers to innovation, harness the latest devices and technologies, manage their projects across broad design "ecosystems", and create connected, intelligent designs.

Founded in 1985, Altium operates worldwide. For more information, visit www.atlium.com.

Altium, Altium Designer, and LiveDesign, and their respective logos , are trademarks or registered trademarks of Altium Limited, or its subsidiaries. All other registered trademarks mentioned in this release are the property of their respective owners, and no trademarks rights to the same are claimed.

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