Changes in Eesti Energia Supervisory Board

Changes in Eesti Energia Supervisory Board

The Minister of Finance has signed a sole shareholder resolution appointing three new members to the Supervisory Board of Eesti Energia AS.

Based on the recommendation of the Nomination Committee, Mrs. Anna Ebers Broughel, Mr. Jevgeni Kabanov, and Mr Priit Rohumaa will begin three-year terms. They will replace Mr. Andres Liinat, Mr. Einar Kisel, Mr. Meelis Einstein, and Mr. Allan Niidu, whose terms end on May 12. Mrs. Anne Mere will continue as Chairman of the Supervisory Board.

Mrs. Anna Ebers Broughel brings expertise in energy economics, technologies, and green energy. She is an economist, lecturer in renewable energy, and has served in managerial positions within several U.S.A. energy sector organizations.

Mr. Jevgeni Kabanov has extensive strategic management experience in the private sector, particularly in the field of information technology, along with hands-on software development expertise. He is the President of Bolt Technology OÜ, a board member of Bondora Group AS and Bondora Finance AS, an investor, and the former CEO and co-founder of ZeroTurnaround.

Mr. Priit Rohumaa has long-standing experience in strategic, financial, and risk management in the chemical industry, as well as experience as a strategic and financial investor, including in the field of new technologies. He is an investor, Chairman of the Supervisory Board of AS Ekspress Grupp, a board member of AS Tallinna Vesi and Admirals Group AS, and formerly the long-time CEO, board member, and CFO of Viru Keemia Grupp AS.

The Supervisory Board of Eesti Energia will continue with six members. In addition to the new appointees, Mrs. Kristi Klaas, Deputy Secretary General at the Ministry of Climate, and Mr. Kaur Kajak, Deputy Secretary General at the Ministry of Finance, will continue serving.

To strengthen state representation, updated principles of state ownership policy now grant the ownership authority, the Minister of Finance, the right to appoint one board member from the Ministry of Finance at their discretion.

The role of the Supervisory Board is to plan the activities of the Eesti Energia Group, organize its management, and oversee the activities of the Management Board.

The sole shareholder of Eesti Energia AS is the Republic of Estonia, represented by the Ministry of Finance through the Minister of Finance.

Further Information:

Danel FreibergHead of Treasury and Financial Risk ManagementEesti Energia ASTel: +372 5594 3838Email: [email protected]