Ørjan Svanevik has informed the Board of Directors that he resigns as CEO of
Arendals Fossekompani.

Starting 1 January 2023, CFO Lars Peder Fensli will function as interim CEO
until a new Chief Executive Officer is appointed. 

"During his three years at Arendals Fossekompani, Svanevik has been instrumental
in building a portfolio well positioned in global megatrends, and a strong team
in the parent company. We are grateful for the time and effort Svanevik has put
into Arendals Fossekompani, and we wish him continued success in his new
endeavors," says Trond Westlie, Chairman of the Board of Directors of Arendals
Fossekompani.
 
Svanevik has agreed to stay on as Chairman of the Board of Directors in
portfolio companies Volue and Evolgy.

"I am grateful for my time in Arendal. Arendals Fossekompani is a fantastic
company with a strong legacy and a prosperous future. It will always stay close
to me. However, it is time for me to work with new opportunities in Oslo, where
my family and I live," says Svanevik.


For additional comments, please contact: 
Trond Westlie, Chairman of the Board of Directors, Arendals Fossekompani +47 974
04 496
Hanne Watts, VP Communication & Sustainability, Arendals Fossekompani: +47 974
04 496



Arendals Fossekompani | www.arendalsfossekompani.no 
Arendals Fossekompani (AFK) is a long-term investment company that owns energy-
and technology-related companies which enable the transition to energy security
and next generation industrial technologies. AFK operates globally in several
future-oriented industries, including 3D printing, wireless charging, algo
trading, satellite services, battery- and solar technology, software, and
digitization. Established in 1896, AFK has been a proud producer of renewable
hydro power for more than 100 years. The company is headquartered in Arendal,
Norway and listed at the Oslo Stock Exchange.

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This stock exchange announcement was published by Lars Peder Fensli, CFO,
Arendals Fossekompani ASA, on 16 December 2022 at 07:00 CET.