Endúr ASA – Management change in subsidiary

01 Oct 2024 08:00 CEST

1 October 2024 – Fredrik Emil Riise Langehaug has been appointed as managing
director of Endúr ASA’s wholly owned subsidiary Artec Aqua, which is about to
embark on a new growth phase. The company is recognised as one of the world's
leading suppliers of technical infrastructure for land-based fish-farming
facilities.

Langehaug takes on the managing director role one year after joining Artec Aqua
as chief financial officer (CFO). Prior to joining Artec Aqua, he spent seven
years with PwC. He holds a master’s degree in finance from the Norwegian School
of Economics – NHH.

Langehaug succeeds Ingegjerd Eidsvik who has decided to seek opportunities
outside Artec Aqua after leading the company for the past six years.

“It is no secret that the past 18 months have been challenging for Artec Aqua,
partly due to Norwegian authorities’ unpredictable halt in awards of new
licenses for land-based fish farming, which coincided with a period of rapidly
rising inflation and interest rates. As we are now seeing signs that the new
regulations are finally coming into place, and Artec Aqua is in the start-up
phase for several large projects, Ingegjerd has come to the conclusion that now
is a good time to hand over the baton to someone who is fully motivated for
leading Artec Aqua into its next substantial growth phase. We are grateful for
Ingegjerd’s contribution towards establishing Artec Aqua as one of the world's
leading suppliers of technical infrastructure for land-based fish-farming
facilities, and we are very pleased that Fredrik will ensure valuable continuity
by heading up the company,” says Jeppe Raaholt, CEO of Endúr ASA.

In addition, Anne Ma Skorpen Tomren, current VP HSEQ in Artec Aqua, will take on
the role as head of projects in Artec Aqua, reporting to Fredrik Emil Langehaug.


“Artec Aqua’s new management team knows the company and its operations very
well. We are delighted that they have accepted their new roles,” adds Jeppe
Raaholt.

Artec Aqua has lately realized significant order backlog growth following the
FID of Salmon Evolution phase 2 in Norway. Further, in early September Artec
Aqua won a smolt production facility contract from Sævareid Fiskeanlegg AS with
a maximum contract value potential of more than NOK 600 million. Artec Aqua is
also positioned to become turnkey supplier to Geo Salmo’s land-based salmon
farming facility on Iceland once the FID has been made.

(ENDS)

For further information, please contact:

Media
CEO of Endúr, Jeppe Raaholt, +47 97 66 97 59

Investors
CFO of Endúr, Einar Olsen, +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance
projects and services for marine infrastructure, including facilities for
land-based aquaculture, quays, harbours, dams, bridges and other specialized
concrete and steel projects. The company and its subsidiaries also offer a wide
range of other specialized project and marine services. Endúr ASA is
headquartered in Lysaker, Norway. See www.endur.no.

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