SMART Technologies Announces Resignation of Directors and Resulting Change in Share Structure

Chairman David Martin and Director Nancy Knowlton resign Board seats Robert Hagerty appointed Acting Chairman of the Board All multiple vote Class B Shares convert to single vote Class A Subordinate Voting Shares SMART to announce its fourth quarter and fiscal 2014 results on May 15, 2014 CALGARY, April 21, 2014 /PRNewswire/ - SMART Technologies Inc. (the "Company") SMT, a leading provider of collaboration solutions, announced today that Mr. David Martin, Chairman of the Board, and Ms. Nancy Knowlton, have resigned from SMART Technologies Inc.'s Board of Directors, effective April 17, 2014. Mr. Robert Hagerty has been appointed by the Board of Directors as Acting Chairman of the Board, effective immediately. Mr. Hagerty has been on the Board of the Company since July 2010, and has been the Lead Independent Director since June 2011. In accordance with the provisions of the Company's articles and share provisions, all of the issued and outstanding Class B shares of the Company have automatically converted into single vote Class A Subordinate Voting Shares, such conversion being effective commensurate with the resignations of Mr. Martin and Ms. Knowlton. The Company no longer has any issued and outstanding Class B shares that carry multiple voting privileges and no further Class B shares are permitted to be issued by the Company. On April 17, 2014, there were 79,464,195 Class B shares outstanding and such shares have now converted into 79,464,195 Class A Subordinate Voting Shares, representing 65.6% of the outstanding Class A Subordinate Voting Shares. After accounting for this conversion the breakdown of Class A Subordinate Voting Shares is as follows: Mr. Martin and Ms. Knowlton own 23.5%, entities related to and funds advised by Apax Partners hold 31.1%, Intel Corporation holds 14.4% and the remaining 31.0% of shares are widely held. "David and Nancy founded SMART Technologies over twenty-five years ago. Over that time, they grew it from a small start-up into a company that has truly changed the way the world works and learns. I want to thank David and Nancy for their many years of unparalleled service to the Company," said Mr. Hagerty, Acting Chairman of the Board. Over the last year, the Company has been successfully executing against its strategic plan and continues to make positive progress. The Company will be reporting its year-end results for fiscal 2014 on May 15, 2014 and President and CEO Neil Gaydon will be providing additional detail on the Company's strategic plan at that time.