Mainstream Renewable Power Appoints Morten Henriksen as CEO

27 Feb 2025 15:00 CET

The Board of Mainstream Renewable Power ("Mainstream"), the pureplay global wind
and solar company majority-owned by Aker Horizons ASA, is pleased to announce
the appointment of Morten Henriksen as Group CEO, effective April 1, 2025.
Henriksen comes from the position of CEO of Gassnova, the Norwegian state
enterprise for carbon capture and storage. His previous experience spans
executive management roles in the energy industry in Norway and internationally
for companies including Arendals Fossekompani and Statkraft, in addition to
multiple board positions.

Current CEO Mary Quaney will continue to support Mainstream and the transition
in a Senior Advisor capacity before stepping down in the second half of 2025 to
pursue other interests.

The appointment comes as the Company implements its updated strategy, continuing
to deliver significant cost base reduction targets and sharpening its focus on
three core growth markets where it sees the greatest potential for value
creation - South Africa, Australia, and the Philippines.

In order to reduce costs and leverage the resources of its majority shareholder
Aker Horizons, Mainstream is relocating its headquarters from Dublin to Oslo in
the first half of 2025. This is in line with its plan to reduce its cost base by
approximately 65% by 2026, relative to 2023 levels.

Mainstream's Chairman, Kristian Røkke, said: "We would like to express our
gratitude to Mary for her leadership over the last five years. She has guided
Mainstream's global team with focus, resilience and integrity, navigating a
period of industry-wide transformation."

He continued: "As we enter a new phase, Morten brings extensive experience and
deep sector expertise to position Mainstream for growth. His leadership will be
instrumental in executing the Company's strategy and driving Mainstream's growth
in the global energy market."

Commenting on his appointment, Morten Henriksen said: "Mainstream is well
positioned for the opportunities ahead. I am very excited about implementing our
vision to build a lean and focused renewable energy company, leading in our core
markets and creating value through strong project execution, a lean cost base
and capital efficiency."

ENDS

For further information, please contact:

Jonas Gamre, Investor Relations, tel: +47 97 11 82 92,

email: jonas.gamre@akerhorizons.com

Mats Ektvedt, Media, tel: +47 41 42 33 28,

email: mats.ektvedt@corporatecommunications.no

About Aker Horizons

Aker Horizons develops green energy and green industry to accelerate the
transition to Net Zero. The company is active in renewable energy, carbon
capture and sustainable industrial assets. As part of the Aker group, Aker
Horizons applies industrial, technological and capital markets expertise with a
planet-positive purpose to drive decarbonization globally. Aker Horizons is
listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across
its portfolio, the company is present on five continents. www.akerhorizons.com

About Mainstream Renewable Power

Mainstream Renewable Power is a leading pure-play renewable energy company with
wind and solar assets across Europe, Latin America, Africa, and Asia-Pacific.
Mainstream is one of the most successful developers of gigawatt-scale renewables
platforms, across onshore wind, offshore wind, and solar power generation. The
company has successfully delivered 6.6 GW of wind and solar generation assets to
financial close-ready and has a global project portfolio
of 22.7GW. www.mainstreamrp.com

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