PowerCell Sweden AB

Board/Management Information • Dec 22, 2025

Magnus Jonsson declines re-election as Chairman of the Board of PowerCell Group

Magnus Jonsson, current Chairman of the Board of PowerCell Group AB, has today informed the Nomination Committee that he will decline re‑election at the Annual General Meeting in 2026.

Magnus Jonsson has been a member of the Board since 2012 and has served as Chairman since 2015. He will remain in his role as Chairman until the Annual General Meeting in 2026 and will continue to support the Nomination Committee in its ongoing work.

The Nomination Committee has for an extended period conducted a structured succession process in preparation for the possibility that Magnus Jonsson would decline re‑election. The Nomination Committee considers itself to have made significant progress within this process. A complete proposal for the Board of Directors, including a new Chairman, is therefore expected to be announced well in advance of the notice of the Annual General Meeting 2026.

For further information, please contact:

Richard Berkling

CEO

Phone: +46 31 720 36 20

Email: richard.berkling@powercellgroup.com

Uwe Zeise, Chariman, Nomination Committee

Email: uwe.zeise@bosch.com

About PowerCell

PowerCell is a world leader in hydrogen electric solutions with unique fuel cell stacks and systems. With decades of experience, we use our expertise to accelerate the transition to an emission‑free, more sustainable world. We target industries such as aviation, marine, off‑road, on‑road and stationary power generation. With our cutting‑edge products we help our customers to reach net zero emissions already today.

We are headquartered in Gothenburg, Sweden with sales globally. PowerCell is listed on Nasdaq Stockholm.

To read more about our products and services, visit powercellgroup.com.

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Magnus Jonsson declines re‑election as Chairman of the Board of PowerCell Group