Eqva ASA

Board/Management Information • Apr 26, 2024

Eqva ASA appoints Even Matre Ellingsen as new CEO

Eqva ASA appoints Even Matre Ellingsen as new CEO

25 April 2024: The Board of Directors of Eqva has appointed Even Matre Ellingsen as new Chief Executive Officer (CEO) of Eqva ASA effective as of 2 May 2024. From that date he will resign from the board which he has chaired since 2022.

Even Matre Ellingsen replaces Erik Høyvik, who has been with the company since 2021. The board expresses its sincere gratitude to Mr. Høyvik for his service to Eqva. Erik will be engaged in specialised projects and available for the new CEO for a certain period.

The change of CEO follows a series of significant changes in Eqva over the past few years. The company has transformed itself into a knowledge-based active owner of industrial service companies that contribute to the green transition in maritime, power intensive and renewable industries.

“Eqva creates value by supporting and inspiring growth in its portfolio companies and by identifying and executing value-creating acquisitions of new businesses. Ellingsen’s background from finance and his experience with accretive transactions is highly relevant in his new role as CEO,” said Rune Skarveland on behalf of the board.

“I am looking forward to continuing working with our portfolio companies in my new role. BKS and Fossberg Kraft have strong industrial track records and leaders and teams who have demonstrated great talent in building good businesses. We are currently in the process of building a lean and highly effective corporate office, with a small team who will support the portfolio companies and chase new opportunities,” commented Even Matre Ellingsen.

Even Matre Ellingsen holds extensive experience in corporate finance and various management positions first in Pareto Securities and then in Fearnley Securities, which he joined as CEO and managing partner in 2012. From 2019 to 2021 he was Group CEO of Astrup Fearnley.

Even Matre Ellingsen owns 8 168 462 shares (11.35 per cent of all outstanding shares) in Eqva ASA through his company Neve Eiendom AS.

For more information, please contact:

Even Matre Ellingsen, Chief Executive Officer: + 47 990 05 500

Petter Sørdahl, Chief Financial Officer: +47 917 56 147

Eqva ASA in brief

Eqva ASA is a knowledge-based active owner of engineering, construction and service companies that contribute to the green transition in maritime, power intensive and renewable industries.

The group has a well-diversified product and market portfolio, and further growth will be established through a combination of company-based development, utilization of synergies between the companies in the group as well as value-creating M&A activities. Key companies in the group are BKS and Fossberg Kraft, each building on decades of experience and widely recognized by clients in a broad range of industries.

Read more on www.eqva.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.