Soiltech

Board/Management Information • Nov 1, 2024

SOILTECH ASA: THE NOMINATION COMMITTEE'S RECOMMENDATION

NEW CHAIR OF THE BOARD

The Nomination Committee of Soiltech ASA ("Soiltech" or the "Company") consists of the following members: Øivind Thorstensen (Chair) and Kristian Falnes.

In connection with the Extraordinary General Meeting of Soiltech to be held on 15 November 2024, the Nomination Committee proposes the following.

The current chair Gunnar Winther Eliassen has informed that he will step down from his position. The nomination committee would like to thank Gunnar for his contribution to Soiltech. Soiltech's nomination committee propose that Dag Schjerven is elected as new chair of the board.

The Nomination Committee's opinion is that the election of Dag Schjerven as the new chair of the Board of Soiltech will be in the best interest of the Company.

Dag Schjerven has more than 30 years of operational experience, including serving as President and CEO of Wilhelmsen Maritime Services from 2005 to 2017. During his service, Mr. Schjerven was a driving force in developing the maritime service segment into a substantial part of the Wilhelmsen group. Previously he served as EVP in Dyno Industrier and CEO in Ving Card. Mr Schjerven currently holds the position as vice chair of Nammo AS.

In addition to Mr. Schjerven's extensive industrial and leadership background, the Nomination Committee has considered his international experience and track record from industry building. The Nomination Committee sees it as an advantage that he is knowledgeable about Soiltech, being a shareholder in Soiltech since 2014.

Based on the foregoing, the Nomination Committee recommends to the general meeting that Dag Schjerven be elected as new chair of Soiltech, for a period of two years. The annual remuneration for his service is proposed to be NOK 450 000.

The Nomination Committee considers Mr. Schjerven to be independent of the Company's executive personnel and material business connections.

Consequently, if Mr. Schjerven is elected to the Board, the Board will consist of the following:

Dag Schjerven, Chair, Eirik Flatebø, Director, Olaf Skrivervik, Director, Mona Hodne Steensland Freuchen, Director and Karin Govaert, Director.

Sandnes, 1 November 2024

The Nomination Committee of Soiltech ASA