New CEO at DEIF

Christian Nielsen takes over as CEO in DEIF on 1 September from Toke Foss, who continues in the
company as new chairman of the Board.

"The time for change of CEO is just right as we are seeing a very positive development in DEIF", says
Toke Foss, who as owner and CEO has been in charge of the business for almost 35 years.

Toke Foss replaces Mogens Filtenborg, who resigns after more than 20 years as chairman of the Board
of Directors in DEIF. The Foss family's close involvement in the company is further emphasized by the
fact that Valdemar Foss, Toke Foss' youngest son, joins the Board, where his older brother Frederik Foss
also has a seat. At the same time, the Board of Directors is strengthened with the appointment of
Malene Richter Christensen.

A few months ago, DEIF launched a new, long-term growth strategy focusing on solutions to combat
global warming. The implementation of the new strategy is now in the hands of the new CEO.

"Christian has proven that he can lead a team and create results. Now he has a clear mandate to
implement the strategy to achieve the goals," says Toke Foss, who explains the selection of an internal
candidate with the desire for continuity and for insight into the market, customers, technology and
products.

During the last 25 years, Christian Nielsen has held many different positions at DEIF. As electronics
engineer, he has been deeply involved in product development, while the last years have been
dedicated to leading business development and sales in DEIF globally.

”I am happy that the Board of Directors of DEIF have trusted me with the task of executing the new
strategy. I have a strong belief in DEIF's potential as a global leader in our field. We have a strong legacy,
a clear and ambitious strategy as well as support from the Board of Directors to make the necessary
investments to achieve our growth goals,” says Christian Nielsen.

The climate agenda opens new possibilities

The global focus on climate-friendly and energy-efficient solutions opens up new opportunities for DEIF
that specializes in energy optimization of existing fossil fuel installations, hybrid solutions with batteries
and solar cells for e.g. ships as well as upgrading of existing wind turbines to produce more electricity
and to extend their service life.

”During the coming period, we’ll be hiring more R&D engineers to strengthen our product portfolio and
increase our digitalization competences to meet the demand for climate-friendly solutions. Our
development center is in Denmark, but we increasingly draw on specialized competences from around
the world. Our network of international subsidiaries plays an important role in getting closer to the
customers and helping them improve energy efficiency”, says Christian Nielsen.

For further information please contact Toke Foss, phone: + 45 4070 9600, email: tf@deif.com