Reference is made to the stock exchange announcement sent 1 September 2023 where
it was stated that Geir Drangsland would resign as CEO of Byggma and that a
process of hiring a new CEO started. The process of hiring a new CEO is now
completed.

Conrad Lehne Drangsland is appointed as the new CEO of Byggma. He will assume
the role as of 1 April 2024. He has worked in Byggma since June 2021 and
functioned as CFO since October 2022.

"The Board of Directors in Byggma is comfortable that Conrad Lehne Drangsland
has the managerial and personal attributes required to lead and develop the
Group going forward, and we are very happy that he has said yes to take on the
job as Byggma's next CEO. With Conrad Byggma will have a strong and well
regarded leader that know the Group and the industry well", says Chairman of the
Board, Terje Gunnulfsen.

Before Byggma Conrad has experience as Director of Group Accounting in IDEX
Biometrics ASA and Manager in PwC. He holds a Master of Science in Business with
Major in Finance (with Honours) from The Norwegian Business School (BI) and
Master of Professional Accountancy from The Norwegian school of economics (NHH)
and was certified as a state authorised accountant.

"I would like to thank the Board of Directors for its confidence in me. Byggma
is a company with great culture and values that I personally believe in. I am
very happy that Henry, who has been a very solid and loyal coworker for several
years, assumes the role as CFO. So far in Byggma I have experienced historically
good years to now that we find ourselves in maybe the toughest market conditions
for the building industry in over 30 years. Byggma consist of fantastic
colleagues that work hard every day, and going forward we must continue to
improve our competitiveness and release the potential that the company has,
particularly through development and increased sale of sustainable building
materials from renewable raw materials", says Conrad Lehne Drangsland, upcoming
new CEO of Byggma.

Henry Gundersen is appointed as the new CFO in Byggma. He will assume the role
as of 1 April 2024. He has worked in Byggma since 2007 as Head of Group
Accounting and Finance Director in Byggma's subsidiary Huntonit AS.

Before Byggma Henry has experience as Accounting Director in Hunsfos Fabrikker
and Ventelo. He is educated at Copenhagen Business School (CBS) and Siviløkonom
from The Norwegian school of economics (NHH).

"I am very happy that Byggma has appointed a new CEO and CFO. The fact that the
two preferred candidates are internally sourced confirms the strong culture of
continuity in the management that Byggma has", says outgoing CEO and major
shareholder Geir Drangsland.