Asetek A/S

Asetek - Proposed changes to the Board of Directors

Aalborg, February 20, 2023. The nomination committee of Asetek A/S will propose

the election of René Svendsen-Tune to the Company's Board of Directors at the

Annual General Meeting to be held on 28 April 2023.

Svendsen-Tune has extensive global experience as CEO, as a senior executive and

board member from both private and public companies, mainly within the

technology sector, working with growth strategies, innovation and ESG outcomes.

Most recently he was the President and CEO at GN Group and GN Audio.

It is expected that Svendsen-Tune will assume the position as Chairman upon his

election to the Board of Asetek. The current Chairman of the Board, Jukka

Pertola, is expected to remain on the Board as an ordinary director.

Additionally, the nomination committee has been notified by Jørgen Smidt that he

is not available for re-election. He was elected to the board 11 years ago and

is approaching the 12-year term limit recommended by the Danish Committee on

Corporate Governance to uphold independency. The Board of Directors and the

management of Asetek would like to thank Jørgen for his outstanding work. His

contributions have been essential for Asetek to become the leading provider of

liquid cooling solutions for high performance computing and a strong challenger

in the rapidly growing SimSportsT Gaming market.

For further information, please contact:

Peter Dam Madsen, Chief Financial Officer

Mobile: +45 2080 7200

About Asetek

Asetek (ASTK.OL), a global leader in mechatronic innovation, is a Danish garage

-to-stock-exchange success story. Founded in 2000, Asetek established its

innovative position as the leading OEM developer and producer of the all-in-one

liquid cooler for all major PC & Enthusiast gaming brands. In 2013, Asetek went

public while expanding into energy-efficient and environmentally friendly

cooling solutions for data centers. In 2021, Asetek introduced its line of

products for next level immersive SimSports gaming experiences. Asetek is

headquartered in Denmark and has operations in China, Taiwan and the United

States.

This information is subject to the disclosure requirements pursuant to Section 5

-12 of the Norwegian Securities Trading Act.

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