Appointment of new member of the board of Eesti Energia

On the 6^th of September the contract of Andres Vainola, a member of the board of Eesti Energia AS and the CEO of Enefit Power AS (the groups subsidiary in charge of thermal electricity generation and liquid fuels production) will come to an end. The Supervisory Council has appointed Lauri Karp as the new member of the board of Eesti Energia and the CEO of Enefit Power effective as of 7^th of September 2024.

The decision was made by the Supervisory Counsel after having considered a variety of candidates. Lauri Karp best suited to take Enefit Power forward in the next phase of development and represent the company in the group's board. Enefit Power is currently the largest subsidiary of Eesti Energia, which also faces bigger challenges in the coming years.

Karp has worked at Eesti Energia since 2023. First as the Head of Chemical Industry Strategy and Transformation and since April 2024 as Chief Strategy Officer. Previously, he has worked as a member of the supervisory board of AS Silmet Group, an energy production and logistics group operating in Ida-Virumaa and as a member of the supervisory board of chemical industry company AS Molycorp Silmet. He has led the Frankfurt-based financial technology company KFPD GmbH, worked at the consulting company Springer AG Management Consultants and at Deutsche Bank and Swedbank. Karp was also an advisory member of the Financial Advisory Council of the Austrian state of Salzburg.

Karp holds a master's degree in Economics, Monetary Policy and Financial Markets from the University of Heidelberg in Germany and furthered his education in the field of renewable energy and hydrogen economy.

Danel Freiberg
Head of Treasury and Financial Risk Management
Eesti Energia AS
Tel +372 5594 3838
danel.freiberg@energia.ee