GN Store Nord — Board/Management Information 2018

Oct 31, 2018

Announcement NO. 50 October 31, 2018

Change to Executive Management: Anders Hedegaard leaves as CEO of GN Hearing

Anders Hedegaard has decided to resign as CEO of GN Hearing. Marcus Desimoni will act as interim CEO of GN Hearing, in parallel with his role as CFO of GN Store Nord and GN Hearing, until a new CEO of GN Hearing is appointed. Marcus will together with René Svendsen-Tune, CEO of GN Audio, constitute GN Store Nord's Executive Management team.

"GN is thankful to Anders for his services during the last four years, in which GN has executed on its ambitious plans to continuously lead its respective industries in terms of innovation and growth", says Per Wold-Olsen, Chairman of the Board of Directors of GN Store Nord.

Anders has accepted a position as CEO in another company located outside of Denmark, not competing with GN's businesses. Anders will support a smooth transition.

Financial guidance for 2018 and long term targets are unchanged.

For further information, please contact:

Investors and analysts

Peter Justesen VP – Investor Relations & Treasury Tel: +45 45 75 87 16

Press and the media

Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55

About GN Group

The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. With our unique competencies within medical, professional and consumer audio solutions, we transform lives through the power of sound: Hearing aids that enhance the lives of people with hearing loss; integrated headset and communications solutions that assist professionals in all types of businesses to be more productive; wireless headsets and earbuds designed to support calls, music and media consumption.

With world leading expertise in the human ear, sound, wireless technology and miniaturization, GN's innovative and intelligent audio solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and Blueparrott in 100 countries across the world. Founded in 1869, the GN Group today has more than 5,500 employees and is listed on Nasdaq Copenhagen (GN.CO).

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