Eltel

Earnings Release • Feb 16, 2022

Press release, 16 February 2022 19:30 CET

Håkan Dahlström appointed new President and CEO of Eltel

Eltel's Board of Directors has appointed Håkan Dahlström as the new President & CEO of Eltel AB effective 1 September 2022. Håkan is currently serving as the CEO of Fujitsu Sweden. Prior to that, Håkan has held several executive positions at TietoEvry and Telia Group. He is also a member of the Eltel Board of Directors since 2017. Håkan will succeed Casimir Lindholm, who will remain in his position until Håkan joins Eltel.

"We are delighted that Håkan has accepted to become Eltel's new CEO. With experience of growth and business development, Håkan has the right profile to lead the company in its next phase. Håkan knows the company well after five years as a member of Eltel's Board and he possesses a broad knowledge of telecommunications operations in Northern Europe," said Ulf Mattsson, Eltel's Chairman of the Board.

"I am excited about the opportunity to lead and further grow Eltel as the leading Nordic field service provider for communication and power networks," said Håkan Dahlström.

Casimir Lindholm became President & CEO in September 2018, when Eltel faced financial and operational challenges.

"Casimir has guided Eltel through challenging times. He has strengthened the balance sheet by reducing the net debt and the financial exposure. The declining profit trend has turned to positive, laying the foundation for future growth. I would like to thank Casimir for his stewardship during this difficult period," continued Mr. Mattsson.

"We are now ready to focus on the future, serve our customers and develop Eltel and its employees to its full potential," concludes Mr. Mattsson.

For further information, please contact:

Ulf Mattsson, Chairman ulf.mattsson@eltelnetworks.se

Casimir Lindholm, President and CEO casimir.lindholm@eltelnetworks.com

Elin Otter, Director, Communications and Investor relations, Eltel AB Phone: +46 72 595 4692, elin.otter@eltelnetworks.com

This information is information that Eltel AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 19:30 CET on 16 February 2022.

About Eltel

Eltel is a leading Nordic field service provider for communication and power networks. We deliver a comprehensive range of solutions – from maintenance and upgrade services to project delivery. This includes design, planning, building, installing and securing the operation of networks for a more sustainable and connected world today and for future generations. In 2020, Eltel had annual sales of about EUR 938 million. The total number of employees currently stands at around 5,100. Eltel AB is listed on Nasdaq Stockholm.