The Nomination Committee of Kjell Group AB (publ) supplements its proposal to the Annual General Meeting and proposes the election of an additional Board member

Pål Wibe, born in 1967, holds a degree in economics from the Norwegian School of Economics (NHH) and an MBA from the University of California, Berkeley. Pål Wibe has more than 25 years’ experience in senior positions within retail and consumer-facing businesses in the Nordic region, including over 18 years as a CEO. He has previously served as CEO of Europris ASA, XXL ASA and Nille AS, and has extensive experience in developing and transforming retail companies in competitive markets. The Nomination Committee considers that his in-depth knowledge of the Nordic retail sector, particularly the Norwegian market, combined with his experience of digitalisation, strategy and value-creating change initiatives, will be a valuable asset to the Kjell Group board. Pål Wibe’s other current appointments include Chairman of the Board of Posten Bring AS, Forte Group AS, Whiteaway Group A/S and Whiteaway A/S. Chairman of the Board and Chief Executive Officer of Nordkronen II AS. Board member of Aka AS, Europris ASA, Europris AS, Europris Holding AS, Oivi AS and StrongPoint ASA. Pål Wibe holds no shares in the company and is considered to be independent both in relation to the company and its management, and in relation to the company’s major shareholders.

The Nomination Committee’s supplemented proposal means that the Board is proposed to consist of six members, with the re-election of the current Board members Adeline Sterner, David Zaudy, Ebba Ljungerud and Ola Burmark and the election of Pål Wibe as new Board member and Göran Westerberg as new Chairman of the Board. The current Chairman of the Board, Jan Friedman, has declined re-election.

The Nomination Committee consists of David Zaudy, appointed by Cervantes Capital, Joel Eklund, appointed by the Eklund family, and Bo Börtemark, appointed by Jofam AB. The Nomination Committee’s other proposals ahead of the Annual General Meeting on 20 May 2026, including its reasoned statement regarding the proposed composition of the Board of Directors, will be published on the company’s website in connection with the publication of the notice convening the Annual General Meeting.