Asetek A/S

Asetek - Chairman Retires

Aalborg, Denmark, 23. October 2018 - Asetek today announced that its chairman,

Mr. Samuel Szteinbaum, has notified the board of directors of his decision to

retire and leave the board to pursue other endeavors. Mr. Szteinbaum was

elected to the board of directors in 2008 and has served as the Company's

chairman since 2009. He has been instrumental in leading the Company through the

IPO in 2013 and years of significant growth since - from USD 20 million in

revenue in 2012 to close to USD 60 million in revenue in 2017.

"I have enjoyed serving on the board for the last 10 years and I feel the right

time to move on has come as I am continuing my board position at Corsair as well

as I am going to be more dedicated to another and yet unannounced situation. The

company has seen tremendous growth and I feel the company has still a lot to

come and the future presents many opportunities and I trust the right team is in

place to address those looking forward".

The Company extends its appreciation to Mr. Szteinbaum for his service as

chairman and director.

The decision is effective immediately, and the vice chairman, Mr. Chris

Christopher will assume the role of chairman until the next ordinary general

meeting in April 2019.

The Company has at the same time initiated efforts to identify an addition to

the board and expects to be able make an announcement on this shortly.

About Asetek

Asetek is the global leader in liquid cooling solutions for data centers,

servers and PCs. Founded in 2000, Asetek is headquartered in Denmark and has

operations in California, Texas, China and Taiwan. Asetek is listed on the Oslo

Stock Exchange (ASETEK.OL).

For further information, please contact:

CEO and Founder André S. Eriksen

+45 2125 7076, email: [email protected]

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