Aker Horizons — Board/Management Information 2025

Feb 27, 2025

Mainstream Renewable Power Appoints Morten Henriksen as CEO

Mainstream Renewable Power Appoints Morten Henriksen as CEO

The Board of Mainstream Renewable Power ("Mainstream"), the pureplay global wind

and solar company majority-owned by Aker Horizons ASA, is pleased to announce

the appointment of Morten Henriksen as Group CEO, effective April 1, 2025.

Henriksen comes from the position of CEO of Gassnova, the Norwegian state

enterprise for carbon capture and storage. His previous experience spans

executive management roles in the energy industry in Norway and internationally

for companies including Arendals Fossekompani and Statkraft, in addition to

multiple board positions.

Current CEO Mary Quaney will continue to support Mainstream and the transition

in a Senior Advisor capacity before stepping down in the second half of 2025 to

pursue other interests.

The appointment comes as the Company implements its updated strategy, continuing

to deliver significant cost base reduction targets and sharpening its focus on

three core growth markets where it sees the greatest potential for value

creation - South Africa, Australia, and the Philippines.

In order to reduce costs and leverage the resources of its majority shareholder

Aker Horizons, Mainstream is relocating its headquarters from Dublin to Oslo in

the first half of 2025. This is in line with its plan to reduce its cost base by

approximately 65% by 2026, relative to 2023 levels.

Mainstream's Chairman, Kristian Røkke, said: "We would like to express our

gratitude to Mary for her leadership over the last five years. She has guided

Mainstream's global team with focus, resilience and integrity, navigating a

period of industry-wide transformation."

He continued: "As we enter a new phase, Morten brings extensive experience and

deep sector expertise to position Mainstream for growth. His leadership will be

instrumental in executing the Company's strategy and driving Mainstream's growth

in the global energy market."

Commenting on his appointment, Morten Henriksen said: "Mainstream is well

positioned for the opportunities ahead. I am very excited about implementing our

vision to build a lean and focused renewable energy company, leading in our core

markets and creating value through strong project execution, a lean cost base

and capital efficiency."

ENDS

For further information, please contact:

Jonas Gamre, Investor Relations, tel: +47 97 11 82 92,

email: jonas.gamre@akerhorizons.com

Mats Ektvedt, Media, tel: +47 41 42 33 28,

email: mats.ektvedt@corporatecommunications.no

About Aker Horizons

Aker Horizons develops green energy and green industry to accelerate the

transition to Net Zero. The company is active in renewable energy, carbon

capture and sustainable industrial assets. As part of the Aker group, Aker

Horizons applies industrial, technological and capital markets expertise with a

planet-positive purpose to drive decarbonization globally. Aker Horizons is

listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across

its portfolio, the company is present on five continents. www.akerhorizons.com

About Mainstream Renewable Power

Mainstream Renewable Power is a leading pure-play renewable energy company with

wind and solar assets across Europe, Latin America, Africa, and Asia-Pacific.

Mainstream is one of the most successful developers of gigawatt-scale renewables

platforms, across onshore wind, offshore wind, and solar power generation. The

company has successfully delivered 6.6 GW of wind and solar generation assets to

financial close-ready and has a global project portfolio

of 22.7GW. www.mainstreamrp.com