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Regulatory press release

SKAND: Skandia Greenpower appoints CEO to drive Elkompis market growth

Skandia GreenPower
6 April 2022 - Skandia Greenpower AS has appointed Lene Johansen, currently
commercial director of rapidly growing online retailer Brandsdal Group, as its
new CEO from 1 July 2022. Current CEO, Gunnar Norheim, remains with the company.


The CEO appointment follows Skandia Greenpower's announcement on 2 February
2022, when the company revealed that it had decided to fast-track its planned
transformation from a traditional electricity retailer to a purebred and more
scalable technology company with a fully digital business model which operates
under the Elkompis brand.

"Lene has the perfect experience and competence mix to grow the disruptive and
fully digital Elkompis offering. She has a proven track record of building
fast-growing and profitable online retail brands and platforms. Having served on
Skandia Greenpower's board of directors since October last year, she has also
learned to know and understand us from the inside. The board of directors is
delighted that she has accepted the CEO role," says Erik Tønnesen, chairman of
Skandia Greenpower's board of directors.

Lene Johansen joins Skandia Greenpower from a role as commercial director of
Brandsdal Group, which is a Norwegian e-commerce company with presence in the
Nordic region including Norway, Sweden, Finland and Denmark. She has also had
key role in establishing the group's brand presence in other countries such as
Germany, Austria, Poland and the Netherlands Today, Brandsdal Group operates
under the BliVakker.no and Netthandelen.no brands in Norway and the Cocopanda
brand in other Nordic countries. The group and its brands have experienced
significant growth and has almost doubled its revenues to NOK 1.3 billion since
Johansen in 2016 took on the role of commercial director. In this role, Johansen
is overall responsible for all Brandsdal Group's sales, marketing and purchasing
activities, leading a team of 50 people.

Prior to this, Johansen was sales manager at Netthandelen.no, and held roles in
Brandsdal Group as head of social media, HR manager and head of customer
service. Today, Johansen is a member of the board of directors of Skandia
Greenpower, Modena Gruppen and Becksöndergaard for Valedo.


ELKOMPIS GROWTH

Johansen's main responsibility will be to drive the growth of Skandia
Greenpower's disruptive and fully digital solution, Elkompis, which is a smart
power-app for ordinary homes that targets the Nordic consumer market. Elkompis
is based on a fully digitalized platform that enables lower operating costs,
lower prices to customers, lower customer acquisition cost, improved operational
flexibility and with significantly higher scalability potential.
Johansen will also continue the work to further simplify and streamline Skandia
Greenpower's current organizational model and structure to match the strategy
change that was announced in February this year.


SUCCEEDS GUNNAR NORHEIM

Lene Johansen joins Skandia Greenpower on 1 July 2022. She succeeds founder and
current CEO, Gunnar Norheim, who will remain in an operational support role to
Lene Johansen until at least year-end 2022. The purpose is to ensure a smooth
onboarding process and transition to the new CEO, and to utilize Norheim's
competence and capacity to progress and conclude projects and processes that are
already ongoing. In addition, from 2023 onwards, Skandia Greenpower may continue
to utilize Norheim's capabilities to support its international expansion plan,
for example to the Swedish market.

"Gunnar is a highly successful founder of Skandia Greenpower and an electricity
retail expert. He was also the first to identify that Elkompis could benefit
from someone with an extensive track record from a fully digital and
online-based business model. The board would like to commend Gunnar for
initiating the process which led to the appointment of Lene Johansen, and we are
very pleased that he will remain part of the Skandia Greenpower team until the
end of the year," adds Erik Tønnesen.
(ENDS)

For further information, please contact:

Erik Edvard Tønnesen, chairman, tel: +47 90 88 19 48
Gunnar Norheim, CEO, tel.: +47 900 24 429
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