Balco Group

Board/Management Information • Jun 15, 2022

Växjö June 15, 2022

Kenneth Lundahl resigns as CEO of Balco Group AB

After 9 years as President and CEO, Kenneth Lundahl has decided to leave Balco Group to focus on his own operations. Lundahl took on the role of CEO of Balco in 2013. Since then, the company has grown from 0.5 billion SEK in net sales to 1.2 billion SEK and is listed on Nasdaq OMX Stockholm.

– With great commitment and entrepreneurship, Kenneth and his team have driven the development of Balco to today be a market-leading balcony player. Under Kenneth's leadership, Balco has been successfully listed on the stock exchange and a number of company acquisitions have been completed. Kenneth leaves a financially strong Balco and the Board want to thank Kenneth for his fine efforts during these years, says Ingalill Berglund, Chairman of the Board of Balco Group.

• I am proud to have been on this journey together with all our employees and customers. It has been 9 fun and exciting years. Balco is a company with great potential, with a strong group management and skilled and committed employees. I will continue to support the company and look forward to following its development, says Kenneth Lundahl.

The recruitment process will start immediately. Lundahl will leave his role no later than mid-December.

For more information, please contact:

Ingalill Berglund, Chairman of the Board, +46-73-026 19 16, ingalill.berglund@forsail.nu Kenneth Lundahl, President and CEO, +46-70-630 20 57, kenneth.lundahl@balco.se

This information comprises such information as Balco Group AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact persons above for publication on June 15, 2022 at 17.30 CET.

Balco in short:

Balco is a growth company offering high quality, innovative, patented and energy-saving balcony solutions. The company's customized products contribute to enhanced quality of life, security and an increase in value for residents of multi-family residential properties. Through a decentralized and efficient sales process, Balco has control over the entire value chain – from production to delivery. The company, which was founded in Växjö in 1987 and has approximately 500 employees, is a market leader in the Nordic region, and operates on several markets in northern Europe. Sales in 2021 amounted to SEK 1,120 M. Balco's shares are listed on the Nasdaq Stockholm Stock Exchange.