Horisont Energi adjusted the activity level to a dynamic business environment, adopted a sharper cost focus, organized around a clean ammonia team and a CCS team supported by commercial and technical teams to optimize resource use at the beginning of the second half of 2023.

Over the last six months Horisont Energi has progressed its business activities and its main projects. For this, at the end of 2023, the necessary decisions were taken to adapt a company group structure by adding respective business line subsidiaries. Now, further actions must be taken in the pursuit of a sustainable future for the company, particularly with respect to commercial agreements and financing.

These various planned activities will require a substantial part of only one CEO’s time and efforts. Building on the experiences made over the last six months, and considering how Horisont Energi may best deliver, the board has decided to strengthen the governance of the company by implementing a dual CEO structure.

For this purpose, the board will call an extraordinary general meeting to update the articles of association to allow for the appointment of two CO-CEOs.

Subject to approval by this general meeting and the pursuing formal appointment by the board, it is planned that Bjørgulf Haukelidsæter Eidesen will continue as a CO-CEO, whereas the current CFO, Leiv Kallestad, will also take on the role as CO-CEO.

Haukelidsæter Eidesen will focus on strengthening existing and building new external relationships, whereas Kallestad will focus on enhancing project delivery capabilities and continue with responsibility for financing.

The board acknowledges all the work that has been done in 2023 and the results that have been achieved and is convinced that strengthening the governance will enable and secure key deliveries while continuing focus on efficiency of operations and cost control.

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