SmartCraft ASA (SMCRT) - CEO transition

02 May 2025 08:30 CEST

2 May 2025 - Gustav Line has decided to step down as chief executive officer
(CEO) of SmartCraft after seven years in the position. Line will continue to
serve in the position until a successor is in place, no later than in the fourth
quarter of 2025.

"Gustav Line has successfully guided SmartCraft through a period of remarkable
transformation and growth, with a successful IPO being one of the notable
achievements. Today, the company is one of the most valuable software companies
on the Oslo Stock Exchange, with a solid track record of profitable growth, a
strong organisation and leadership team, and a well-defined strategy for
profitable growth and value creation. The Board expresses its gratitude for
Gustav's dedication and achievements and wishes him all the best in his future
endeavors," stated Chairman of the Board Gunnar Haglund.

Gustav Line has accepted a position as CEO of a Norwegian software company which
does not compete with SmartCraft. He has a 6 month notice period in SmartCraft.

"With a strong management team, an established group structure, and a clear
strategy in place it feels like the right timing to take the difficult decision
to move on. In the past seven years, we have completed 12 acquisitions, gained
thousands of new customers, established a completely new management team, and
developed a scalable joint technology platform. What makes me most excited and
proud is the way we as a team have made life easier and business more profitable
for a rapidly growing number of craftsmen across the Nordics and the UK. Now, I
am looking forward to serving as CEO with full dedication and energy for the
coming months, until a successor is in place. On Wednesday next week I look
forward to presenting Q1 numbers showing continued growth and an improved EBITDA
-capex margin compared to Q4 2024," said Gustav Line.

The Board will initiate a thorough international CEO recruitment process.

CONTACTS

· Gunnar Haglund, Chairman of the Board, gunnar.haglund@arona1904.se
· Mette Kamsvåg, proposed new Chairman, +47 930 68 063, mk@mkconsulting.no
· Gustav Line, CEO, +47 952 67 104, gustav.line@smartcraft.com

More information:
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