Begins Trading on NYSE as World's Largest Independent IT Infrastructure 
Services Provider

Kyndryl today announced that it has completed its previously announced spin-off 
from IBM (NYSE: IBM) and began trading as an independent company on the New 
York Stock Exchange under the ticker "KD". Kyndryl celebrated becoming an 
independent, publicly-traded company by ringing the Opening Bell at the 
Exchange.

Photo - https://mma.prnewswire.com/media/1678498/Kyndryl_NYSE.jpg 

"We are thrilled that Kyndryl is today an independent company -- with 90,000 of 
the best and brightest professionals, a strong balance sheet and a path to 
growth," said Martin Schroeter, Kyndryl's chairman and chief executive officer. 
"There is a large and growing need for digital transformation services, and our 
unrivaled global expertise in creating, managing and modernizing 
mission-critical information systems positions us well in a market that will 
expand to more than $500 billion by 2024. We look forward to the path ahead, 
with a flatter and faster company that is at the heart of progress for our 
customers and for the world." 

Kyndryl launches as the world's largest IT infrastructure provider, with a 
differentiated approach that integrates development, security and operations. 
Kyndryl's 90,000 professionals worldwide deliver world-class advisory, 
implementation and managed services to more than 4,000 global customers, 
including 75% of the Fortune 100 and leading financial services, 
telecommunications, retail, airline and automotive companies.

Kyndryl begins its independent life with a solid financial position, with $19 
billion in annual revenue, investment-grade credit ratings and long-standing 
customer relationships that drive annuity-like revenue streams. Kyndryl is led 
by an experienced management team and a Board of Directors comprised of 10 
leaders who bring diverse perspectives and experiences spanning technology, 
financial services, government affairs, and academia.

Kyndryl shares were distributed on the evening of November 3 to shareholders of 
IBM, who received one Kyndryl share for every five IBM shares owned. IBM has 
temporarily retained 19.9 percent equity ownership of Kyndryl following this 
distribution.

Kyndryl (NYSE: KD) designs, builds, manages and modernizes the complex, 
mission-critical information systems that the world depends on every day.  
Kyndryl's nearly 90,000 employees serve customers in more than 60 countries 
around the world.  For more information, visit www.kyndryl.com.


SOURCE:  Kyndryl 

Media Contacts: Margaret Popper, Margaret.popper@kyndryl.com; Edward Barbini, 
Edward.barbini@kyndryl.com; 
Investor Contact: Ellie Hartman, Eleanor.hartman@kyndryl.com