PRESS RELEASE                                                                                                                        

Oslo, 21^st July 2021 at 17:30 CET

Fiven Group announces new COO and departure of CRO

Fiven, the world's leading producer of silicon carbide, announced the appointment of Terrance Blanchard as its new Chief Operating Officer (COO) and the departure of former Chief Research Officer (CRO) and member of the board of directors Pål Runde.

In this new role, Terrance will lead all aspects of operations for the company across all geographies. He will play a critical role in driving strategic growth initiatives.

Terrance Blanchard brings more than 20 years of experience in operations management to his new role at Fiven. Most recently, he served as COO of Evoy AS, manufacturer of the world's most powerful electric boat motors. Before that, he held various leadership positions at Schlumberger, a world-leading oilfield services company. Terrance's appointment is effective as of July 1.

The announcement follows the departure of Chief Operating Officer Fernando Peraire end of May. "We appreciate all that Fernando has done for us, and we wish him all the best in his future endeavours," said CEO Falk Ast.

Chief Research Officer (CRO) Pål Runde decided to step down from his position in June 2022. He resigned from the company's board of directors. Pål was responsible for Fiven's research and development efforts since the company's inception. "Pål Runde has been instrumental in building the culture of innovation that is lived at Fiven today. We thank him very much for his commitment during all these years and wish him all the best for his future," said Falk Ast. The successor for the position will be published shortly.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
,

Stefan Mokros, IR Manager
97,

This information is information that Fiven ASA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:30 CET on 21 July 2022.

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