Kyoto Group AS

Board/Management Information • Sep 8, 2022

Håvard Haukdal appointed CFO of KYOTO

Håvard Haukdal appointed CFO of KYOTO

Lysaker, Norway 08 September 2022- Kyoto Group has appointed Håvard Haukdal as

Chief Financial Officer (CFO). Mr Haukdal has extensive strategic and

operational financial management experience from international leadership

positions at Norsk Hydro.

"We are thrilled to welcome Håvard as the new CFO of Kyoto Group and a valuable

addition to the management team. His strong corporate and financial background

from the energy and process industry is perfect as Kyoto scales up to serve the

increasing demand for thermal energy storage in Europe," says Camilla Nilsson,

CEO of Kyoto Group.

Mr Haukdal has served in a number of divisional CFO positions at Norsk Hydro,

including in the Energy division, over a period of 16 years. Prior to joining

Norsk Hydro, he held finance and business development positions with the energy

company Hafslund. He also has consulting experience from PwC.

"I am excited to become part of the agile Kyoto team to build and offer

sustainable thermal energy storage solutions for industrial clients. From my

background in the energy and process industry, I know that such storage

solutions are necessary as variable, renewable energy sources increasingly come

to dominate the energy mix," says Håvard Haukdal.

"I am impressed by the efforts made by Kyoto so far, and I am very much looking

forward to working together to further deliver on the strategic ambitions as we

scale and industrialize the company," Mr Haukdal adds.

Mr Haukdal assumes the role on 19 September 2022.

For more information, contact:

Kyoto Group CEO Camilla Nilsson

camilla@kyotogroup.no

+47 482 95 685

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act.

About Kyoto Group

Kyoto Group AS ("KYOTO") aims to capture and manage the abundant energy from

variable renewable sources such as solar and wind power and apply it to reduce

the CO2 footprint for industrial thermal loads. The Company plans to lease &

operate and sell Heatcube thermal batteries with capacity from 8 MWh to over 100

MWh, with discharge capacity up to 5MW, enabling renewable industrial

processes.

www.kyotogroup.no