Elopak: Thomas Körmendi resigns as CEO

25 Jan 2026 21:19 CET

Elopak ASA ("Elopak", ticker: ELO) Board of Directors announces that CEO,
Thomas Körmendi has decided to step down from his position due to personal
reasons driven by his planned relocation to Denmark.

The Board has initiated the process of finding a new CEO. Körmendi will
continue in his role until a successor is in place, to ensure a smooth
transition and continuity in the implementation of the strategy "Repackaging
tomorrow". The strategic direction and priorities remain unchanged.

Chair of the Board, Dag Mejdell, comments: "Under Thomas Körmendi's
leadership, Elopak has positioned itself as the sustainability leader in the
industry and materially strengthened its market positions. After the IPO in
2021, Elopak has grown to be an end-to-end solution provider in fresh, aseptic
and non-food segments. The company has increased its global market presence
through successful acquisitions - expanding the company into MENA and Asia.
More recently, the establishment of the state-of-the-art production plant in
the United States showcases substantial progress in the company's growth
journey. This is evident in the financials with top line growth and
profitability having improved significantly.

The Board wants to thank Körmendi for his significant contribution to the
success of the company during his tenure."

CEO Thomas Körmendi comments: "It has been a privilege and a pleasure to lead
Elopak over this exciting and eventful period. This is a personal decision
driven by a new job opportunity and a desire to relocate home to Denmark.
Elopak is a fantastic company with highly competent people on a mission to
offer more sustainable packaging alternatives to plastics. I have great
confidence in the continued success of the company thanks to the strong
leadership team in place. I am fully committed to ensuring a smooth
transition."

For further information, please contact:
Investors:
Christian Gjerde, Head of Treasury and Investor Relations
E-mail: christian.gjerde@elopak.com
Tel: +47 980 60 909

Media:
Yannick Vanderveeren, Senior Communications Manager
E-mail: yannick.vanderveeren@elopak.com
Tel: +47 458 36 358

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-01-25 21:19 CET.

About Elopak
Elopak is a leading global supplier of carton packaging and filling equipment.
The company's iconic Pure-Pak® cartons are made using renewable, recyclable
and sustainably sourced materials, providing a natural and convenient
alternative to plastic bottles that fits within a low carbon circular economy.

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in
2021. Today it employs 2,850 people and sells 16 billion cartons annually
across more than 70 countries.

Elopak is a UN Global Compact participant member. We have set Science Based
Targets to reduce emissions in line with the 1.5-degree trajectory and aim to
be Net-Zero by 2050. In 2023, we achieved a gold rating by EcoVadis and were
rated top 2% sustainable companies in the world.

For more information, go to www.elopak.com or follow us @Elopak on LinkedIn.

More information:
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