GLX Holding AS: Optimization of manufacturing network

12 Jun 2024 12:15 CEST

Oslo, Norway, 12 June 2024 – Following multiple acquisitions in recent years,
Glamox AS has surplus capacity in the Group’s production network. Consequently,
Glamox AS has today announced that it will consolidate its manufacturing network
by discontinuing operations at its facility in Kirkenær, Norway. This
consolidation will be completed by May 2025.

The purpose is to consolidate production capacity and optimize resource
utilization to create an even more cost-efficient operation.

Production at Kirkenær will be transferred to a larger, Glamox-owned factory in
Wilkasy, Poland. Glamox will then be better positioned to shift production more
easily among various product families, in response to market demand. The outcome
of these changes will be a simplified, more profitable Glamox.

The decision to close down the business at Kirkenær will affect 51 employees,
but some will be asked to stay on until May 2025.

The closure of Glamox Kirkenær will not affect Glamox's customers, who will
continue to have access to the same product range and liaise with their same
contacts as they do today.

For further information please contact:

Kjetil Østvold
Head of Investor Relations & Analysis
Tel: +47 468 63 004
Email: kjetil.ostvold@glamox.com or ir_glx@glamox.com

About Glamox AS

Glamox AS is a leading lighting company that provides quality energy-efficient
lighting for professional buildings in Europe and for the world’s marine,
offshore, and wind markets. Our mission is to provide sustainable lighting
solutions that improve the performance and well-being of people. We are
committed to achieving Net Zero operations by 2030.

Headquartered in Oslo, Norway, Glamox AS is privately owned by Triton and
Fondsavanse and is a subsidiary of GLX Holding AS. Glamox AS employs around
2,100 professionals with sales and production in Europe, Asia, and North
America. In 2023, its annual revenues were NOK 4,266 million. It owns a range of
quality lighting brands, including Glamox, Aqua Signal, LINKSrechts, LiteIP,
Luminell, Luxo, Norselight, and Wasco. For more information, please see
www.glamox.com

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