Agility Robotics Strengthens Executive Leadership Team with Appointment of Michael Beer as Chief Financial Officer

Experienced public company finance executive joins Agility as company expands commercial momentum and prepares to become the first publicly listed U.S. pure-play humanoid robotics company.

SALEM, Ore., July 23, 2026 /PRNewswire/ -- Agility Robotics, a leading humanoid robotics and Physical AI company, today announced the appointment of Michael Beer as Chief Financial Officer as the company continues to strengthen its executive leadership team ahead of its planned public listing through its previously announced business combination with Churchill Capital Corp XI (NASDAQ: CCXI).

As part of this planned evolution of the leadership team, current Chief Financial Officer and Chief Operating Officer Jennifer Hunter will transition to serving exclusively as Chief Operating Officer. In this role, Hunter will lead the continued scaling of Agility's global operations, manufacturing, and supply chain network to support customer deployments as the company expands production and accelerates commercialization. Having played an instrumental role in building Agility's operational and financial foundation during a period of rapid growth, Hunter's expanded operational leadership reflects the increasing importance of manufacturing and execution as the company enters its next phase of growth and prepares to operate as a public company.

The leadership evolution reflects Agility's continued investment in the capabilities required to support rapid commercial expansion as a public company. By establishing dedicated executive leadership for both finance and operations, Agility is further strengthening the organizational foundation needed to scale production, deepen customer deployments and create long-term shareholder value.

As Chief Financial Officer, Beer will oversee Agility's finance organization, including capital markets, financial planning and analysis, accounting, treasury and investor relations. He will lead the company's financial strategy and partner closely with the executive leadership team to support Agility's continued commercial expansion, disciplined execution, and long-term growth strategy.

Beer joins Agility during a period of accelerating commercial momentum. The company continues to expand deployments with industry-leading customers including Schaeffler, GXO and Toyota Motor Manufacturing Canada while advancing a robust pipeline of more than 30 enterprise customers across logistics, manufacturing and supply chain operations. Following its previously announced business combination with Churchill Capital Corp XI, which is expected to provide more than $620 million in gross proceeds, and with the support of leading strategic investors and partners including NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn, Abico, DCVC, and Playground Global, Agility is well positioned to accelerate production, expand customer deployments and further extend its leadership in humanoid robotics.

"We're entering an exciting new chapter for Agility as we continue scaling customer deployments, expanding production and preparing to operate as a public company," said Peggy Johnson, Chief Executive Officer of Agility Robotics. "Strengthening our leadership team is a natural step in that evolution. As our business has grown, the scope and importance of both our finance and operations organizations have expanded significantly. Michael brings outstanding public company finance and capital markets experience, while Jennifer, with her prior experience as a publicly traded COO, will focus exclusively on scaling our operational excellence and manufacturing capabilities. Together, they create an even stronger leadership team to execute on the tremendous opportunity ahead and deliver long-term value for our shareholders."

Prior to joining Agility Robotics, Beer served as Chief Financial Officer and Head of Corporate Services at Energy Vault Holdings (NYSE: NRGV), where he led the company's finance organization and supported strategic growth initiatives, capital markets activities and corporate operations.

Earlier in his career, Beer held senior finance leadership roles at innovative technology companies and spent more than a decade as an equity research analyst covering the global transportation, logistics and infrastructure sectors at Citigroup, Wolfe Research and Bear Stearns, bringing deep capital markets expertise and industry knowledge that aligns closely with Agility's customer base and long-term growth strategy.

"Agility has built an exceptional business with clear technology leadership, growing commercial traction and a disciplined approach to execution," said Beer. "The opportunity ahead is extraordinary, and I'm excited to join the company at such an important stage of its journey. I look forward to partnering with Peggy, the executive leadership team, and our employees as we continue scaling the business, deepening relationships with customers and the investment community, and creating long-term value for our shareholders."

Beer currently serves on the boards of Cambridge Future Tech, SAIF Autonomy and Literal Labs. He holds a Bachelor of Science in Finance and Entrepreneurship from the Eller College of Management at the University of Arizona and an MBA from the Wharton School at the University of Pennsylvania.

About Agility Robotics

Agility's commercially deployed humanoids operate alongside teams in warehouses, manufacturing facilities and distribution centers – tackling physically demanding and repetitive tasks while enabling workers to focus on higher-value work. With industry-leading safety standards and years of proven deployment data, we're pioneering a new era of automation that enhances human potential. To learn more, visit www.agilityrobotics.com.

About Churchill Capital Corp XI

Churchill XI is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry.

Additional Information About the Proposed Transaction and Where to Find It
The proposed transaction will be submitted to shareholders of Churchill XI for their consideration. Churchill XI intends to file a registration statement on Form S-4 (the "Registration Statement") with the Securities and Exchange Commission ("SEC"), which will include preliminary and definitive proxy statements to be distributed to Churchill XI's shareholders in connection with Churchill XI's solicitation of proxies for the vote by Churchill XI's shareholders in connection with the proposed transaction and other matters to be described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to Company stockholders in connection with the completion of the proposed transaction. After the Registration Statement has been filed and declared effective, a definitive proxy statement/prospectus and other relevant documents will be mailed to Churchill XI shareholders as of the record date established for voting on the proposed transaction. Before making any voting or investment decision, Churchill XI and Company stockholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus statement, as well as other documents filed with the SEC by Churchill XI in connection with the proposed transaction, as these documents will contain important information about Churchill XI, the Company and the proposed transaction. Shareholders may obtain a copy of the preliminary or definitive proxy statement/prospectus statement, once available, as well as other documents filed by Churchill XI with the SEC, without charge, at the SEC's website located at www.sec.gov or by directing a written request to Churchill XI Capital Corp XI, 640 Fifth Avenue, 14th Floor, New York, NY 10019.

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SOURCE Agility