Norske Skog ASA

Board/Management Information • Apr 27, 2023

Press release

Tore Hansesætre new CEO of Norske Skog

The board of directors of Norske Skog ASA has appointed Tore Hansesætre as the new CEO. Hansesætre succeeds Sven Ombudstvedt, who will step back after more than 12 years as CEO. Hansesætre will start in his new position on 1 June 2023.

Tore Hansesætre is currently Executive Vice President for Strategic Projects and leads the work to establish Norske Skog as a leading independent producer of recyclable packaging paper. Hansesætre has more than 13 years' experience in Norske Skog, of which the last 5 years as part of the Group Management. He holds a Master's Degree in Industrial Economics and Technology Management from the Norwegian University of Science and Technology (NTNU).

"I am very pleased to announce Tore Hansesætre as the new CEO of Norske Skog. Tore knows Norske Skog and the industry very well. He has broad experience and can demonstrate impressive results, including establishing new revenue streams for Norske Skog," says Geir Drangsland, chair of Norske Skog ASA.

"I am grateful and humbled by the trust that the board shows in me with this appointment. Norske Skog is a fantastic company with about 2,100 competent employees, with many opportunities ahead. I am very motivated to lead Norske Skog further in realizing these the opportunities, while at the same time keeping up the pressure on continuous improvements in existing operations," says Tore Hansesætre.

Sven Ombudstvedt became CEO of Norske Skog in 2010.

"I would like to thank Sven Ombudstvedt for the solid job he has done as CEO of Norske Skog for more than a decade. On Sven's watch, Norske Skog has restructured its balance sheet, improved its competitiveness and ability to change, which is also reflected in the company's financial results," says Geir Drangsland.

"Norske Skog is now in a solid financial position and is entering a growing European packaging paper market. I wish Tore and Norske Skog all the best in an exciting phase for the company," says Sven Ombudstvedt.

Norske Skog Communications and Public Affairs

For further information: Norske Skog media: Vice President Communication and Public Affairs Carsten Dybevig Email: carsten.dybevig@norskeskog.com Mob: +47 917 63 117

Norske Skog financial markets: Investor Relation Manager Even Lund Email: even.lund@norskeskog.com Mob: +47 906 12 919

Norske Skog ASA

Sjølyst plass 2 P.O. Box 294 Skøyen, 0213 Oslo Norway www.norskeskog.com twitter: @Norske_Skog