Neste Oyj — Board/Management Information 2021

Jul 27, 2021

Neste appoints Markku Korvenranta Executive Vice President, Oil Products and member of the Executive Committee

Neste appoints Markku Korvenranta Executive Vice President, Oil Products and member of the Executive Committee

Neste Corporation, Stock Exchange Release, 27 July 2021 at 8.50 a.m. (EET)

Markku Korvenranta, M.Sc. (Eng), has been appointed as Executive Vice President,
Oil Products business unit and member of the Neste Executive Committee. He will
join Neste in January 2022, at the latest, and will report to President and CEO
Peter Vanacker. Korvenranta will transfer to Neste from Marquard & Bahls,
Germany, and will be based in Finland.

“I am pleased to welcome Markku to lead our Oil Products business unit and
strengthen our Executive Committee with his extensive leadership experience. He
has a solid track record from successful transformational strategy execution in
an international business environment,” says Peter Vanacker, Neste’s President
and CEO.

“I am thrilled to join Neste, and excited to lead the Oil Products to reach its
full potential aligned with the company strategy of becoming a global leader in
renewable and circular solutions,” says Markku Korvenranta.

“I want to express my warm thanks to Marko Pekkola who has been leading our Oil
Products business unit through turbulent times of the global pandemic and
carrying out a major turnaround of Porvoo refinery in very challenging
circumstances. I wish him all the best in his future career,” continues
Vanacker.

Marko Pekkola has decided to continue his career outside Neste. Sami Oja, Vice
President, Supply Chain Management and Business Development of Oil Products,
will take up the role as an interim leader of the Oil Products business unit as
of today.

CV and photo of Markku Korvenranta are attached to this release.

Neste Corporation

Susanna Sieppi
Vice President, Communications

Further information: Neste’s media service, tel. +358 50 458 5076 /
media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET).

Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change
and accelerating a shift to a circular economy. We refine waste, residues and
innovative raw materials into renewable fuels and sustainable feedstock for
plastics and other materials. We are the world’s leading producer of renewable
diesel and sustainable aviation fuel, developing chemical recycling to combat
the plastic waste challenge. We aim at helping customers to reduce greenhouse
gas emissions with our renewable and circular solutions by at least 20 million
tons annually by 2030. As a technologically advanced refiner of high-quality oil
products with a commitment to reach carbon-neutral production by 2035, we are
also introducing renewable and recycled raw materials such as waste plastic as
refinery raw materials. We have consistently been included in the Dow Jones
Sustainability Indices and the Global 100 list of the world’s most sustainable
companies. In 2020, Neste's revenue stood at EUR 11.8 billion, with 94% of the
company’s comparable operating profit coming from renewable products. Read more:
neste.com (http://www.neste.com/en)

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