Arribatec Group ASA

Board/Management Information • Nov 27, 2024

Recommendation from the Nomination Committee of Arribatec Group ASA

Recommendation – changes to the Board of Directors

The Board of Directors of Arribatec Group ASA shall, according to the company's articles of association, consist of between 3 and 7 members. The Board of Directors consists today of Martin Nes (chair), Øystein Stray Spetalen, Kristin Hellebust, Terje Mjøs and Linn Katrine Høie.

Øystein Stray Spetalen and Martin Nes have both informed the Nomination Committee that they want to resign from the Board with effect from the Extraordinary General meeting to be held on 2. December 2024. The Nomination Committee believes the Board shall maintain the current number of members. Consequently, after discussions with relevant shareholders, the Nomination Committee unanimously recommends that Håkon Fure is elected as the Chairman to replace Martin Nes, and that Henrik A. Christensen replaces Board member Øystein Stray Spetalen. Both Håkon Fure and Henrik A. Christensen are proposed elected for a period until next Annual General Meeting. No other changes to the board are proposed.

Short CVs of Mr. Christensen and Mr. Fure are included at the end of this document.

Recommendation – remuneration to the board of directors to be elected on the EGM 2 December 2024

Reference is made to the stock exchange releases 6 November 2024 and 11 November 2024 regarding the Notice of Extraordinary General Meeting, item 8. The nomination committee recommends a resolution as it follows from the Notice of Extraordinary General Meeting.

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27 November 2024

Chair

Espen Lundaas Øystein Tvenge

SHORT CV for Henrik A. Christensen

Mr. Christensen has broad operational experience as former Chairman of Uthalden Maritime Management AS, Sandvold Gruppen AS, AS Naturbetong, Nordic Technology Group AS and Settle AS, as well as senior positions in Eldorado Drilling AS, Stangeskovene AS and Fearnley Advisors AS.

Attorney at law Ro Sommernes advokatfirma DA 1989-1993 Partner Wiersholm 1994-2004 Partner Ro Sommernes advokatfirma DA 1993-1994 og 2004 to date Mr. Christensen graduated from the University of Oslo in 1989 with a Master of Laws

SHORT CV for Håkon Fure

Mr. Fure currently serves as Chairman of Company One AS and has broad experience as an activist investor. His previous positions include Equity Research at DNB Markets and Partner of Magni Partners.

Mr. Fure has held several board member positions. In 2015, he joined the corporate assembly of Storebrand ASA and was subsequently elected a board member of Storebrand ASA (2015- 2018), directly representing a group of shareholders. In 2016, Mr. Fure was elected to the board of Avida (2016-2020), where he also acted as CEO in 2018. In 2019 he joined the board of Yara International ASA (2019-2021) and was the head of the risk and audit committee in 2021. In 2020 he joined the board of Heder Bank ASA and acted as CEO 2021- 2022.

EDUCATION

Master's degree in Finance from the Norwegian School of Management (Handelshøyskolen BI)