Boreo Oyj

Board/Management Information • Aug 2, 2024

Disclosure 449075

Boreo Oyj - Changes board/management/auditors

Change in Boreo Plc's Management team

BOREO PLC Stock exchange release 2 August 2024 at 09:30 EET

Change in Boreo Plc’s Management team

Boreo has appointed Jesse Petäjä as a new Chief Financial Officer effective as of 1 September 2024. He will replace Aku Rumpunen in the role, who has previously announced that he will leave Boreo to pursue other opportunities outside the company. Rumpunen continues in the company until October 2024.

Petäjä has since 2021 headed Boreo’s M&A function, acted since 2022 as a member of the Group Management Team and from late 2023 co-headed the Technical Trade business area together with Richard Karlsson. Going forward, Petäjä continues to be responsible for the M&A function and Karlsson for the Technical Trade business area.

‘Jesse has had an important role in building Boreo, and he has an excellent understanding of the Group’s businesses and business model. I warmly welcome Jesse to the new position and am convinced of his ability to succeed in the role’ says Boreo’s CEO Kari Nerg.

As of 1 September 2024, Boreo’s Management Team will consist of:

• Kari Nerg, CEO
• Jesse Petäjä, CFO
• Mari Katara, SVP, People & Sustainability
• Tomi Sundberg, SVP, Head of Electronics
• Richard Karlsson, SVP, Head of Technical Trade

Vantaa, 2 August 2024

Boreo Plc

Kari Nerg

CEO

Distribution:

NASDAQ Helsinki Ltd

Principal media

www.boreo.com

For more information:

CEO Kari Nerg

+358 44 341 8514

Boreo in brief:

Boreo is a company listed on Nasdaq Helsinki that creates value by owning, acquiring and developing small and medium-sized companies in the long-term. Boreo's business operations are organized into two business areas: Electronics and Technical Trade.

Boreo's primary objective is sustainable long-term profit generation. This is achieved with a business model that is based on the acquisition and ownership of great entrepreneurial companies with ability to generate sustainable long-term earnings growth and strong cash flows. The profits generated by the portfolio of companies are re-invested back to operations or to acquisitions with attractive expected returns on capital. The decentralized operating structure promoting culture of ownership and release of entrepreneurial energy is a core pillar of the firm’s business concept and sustainable earnings growth is ensured through the support and coaching of companies and the personnel.

The Group's net sales in 2023 were EUR 161 million and it employs over 300 people in seven countries. The company’s headquarter is in Vantaa.