Exel Composites Oyj

Board/Management Information • Oct 25, 2022

Paul Sohlberg appointed President and CEO of Exel Composites Plc

EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 25 OCTOBER 2022 at 15:00 EET

The Board of Directors of Exel Composites Plc has appointed Paul Sohlberg as President and CEO of the company.

Paul Sohlberg (LL.M.) is currently Senior Vice President, Separation Business Line at Metso Outotec. Previously he has held positions as Executive Vice President and President of the Minerals Processing Business Area at Outotec, and President of Outotec in North and Central America. Before his career at Metso Outotec, Paul Sohlberg held various positions at Elektrobit Plc.

Paul Sohlberg has extensive international business experience and has worked with multiple industries globally. He has successfully led activities in the customer front as well as managed businesses to achieve profitability turnarounds. He led a team delivering a successful business transformation in Outotec's North and Central America business achieving profitable growth, improved customer and employee satisfaction and safety improvement.

"Paul will bring excellent strategic and leadership skills to Exel Composites, and I am delighted that he will join our team. His international experience will strengthen our diverse global businesses, driving further our profitable growth", Chairman of the Board of Directors Reima Kerttula says.

"I am excited about this opportunity to join Exel Composites, a well-known company with a long history in composites solutions and the global technology and market leader in its field. I hope that my experience will add to the strong team of skilled experts, and I look forward to contributing to the further profitable growth and success of Exel", says Paul Sohlberg.

Paul Sohlberg will assume his position latest 1 May 2023. Exel Composites' Board Member Jouni Heinonen will continue as Interim President and CEO of Exel Composites Plc, until Paul Sohlberg assumes his new position, assuring a smooth transition.

Vantaa, 25 October 2022

Exel Composites Plc Board of Directors

For further information, please contact:

Reima Kerttula Chairman of the Board of Directors Tel. +358 400 648458

Distribution Nasdaq Helsinki Ltd Main news media www.exelcomposites.com

Exel Composites in brief

At Exel Composites, we use over 60 years' experience to solve challenges and help customers save resources. Our forward-thinking composite solutions made with continuous manufacturing technologies serve customers in a wide range of industries around the world. You can find our products used in applications from wind power and transportation to building and infrastructure.

Our collaborative approach and global footprint set us apart from our competition. We use our expertise to help customers reduce weight, improve performance and energy efficiency and decrease total lifetime costs. We want to be the first choice for sustainable composite solutions globally.

Headquartered in Finland, Exel Composites employs approximately 750 forwardthinking professionals around the world and is listed on Nasdaq Helsinki. To find out more about our offering and company please visit www.exelcomposites.com.