Changes in the Management Board of Nordic Fibreboard AS

The Supervisory Board of Nordic Fibreboard AS decided to elect Andrus Allikoja
and Danel Hirbaum as new members of the Management Board of Nordic Fibreboard AS
and Nordic Fibreboard Ltd OÜ, whose mandates began on 29.01.2026. Andrus
Allikoja will start as Chairman of the Management Board and CEO.

Andrus Allikoja is an experienced industrial company manager with nearly 30
years of experience in managing manufacturing companies. He has worked in
leadership positions in several areas, including wood processing, furniture
production, industrial steel doors and access systems, and food packaging.

Allikoja has successfully proven himself in managing both Estonian and
international markets, including Eastern and Central Europe and Scandinavia.
During his career, he has successfully built companies from scratch,
successfully managed turnaround projects, and taken organizations to the next
level of development.

At Trigon Capital, he leads the Ukrainian operations and is a member of the
Supervisory Board of Fenestra AS. His career is characterized by strong
management experience in manufacturing companies at both operational and
strategic levels, supported by business management education and several
professional further trainings.


Danel Hirbaum has long-term management and entrepreneurial experience in several
fields, including banking, the concrete and building materials sector and the
wood industry. He has previously worked in the window and door manufacturing
sector, where he was responsible for sales and export development, focusing
primarily on growing foreign markets.

Danel Hirbaum currently works as CEO and Chairman of the Board at Fenestra AS, a
Trigon Group company. He has been involved in entrepreneurship since 2003 and
has held board member and shareholder roles in several Estonian companies during
this time.

In his previous work, he has combined practical management of production, supply
chain and international sales with performance-based business development. At
Nordic Fibreboard AS, he is responsible for the strategic leadership of sales.
His diverse experience in the financial and industrial fields strengthens the
company's management capabilities and supports the creation of value for both
shareholders and partners

Neither Andrus Allikoja nor Danel Hirbaum currently own shares in Nordic
Fibreboard AS.

The Supervisory Board of Nordic Fibreboard AS has also decided to recall Enel
Äkke from the Management Board of Nordic Fibreboard AS (including all
subsidiaries of the group) as of 29.01.2026, in connection with the Supervisory
Board's decision to grant his resignation.

The Management Board of Nordic Fibreboard AS will operate as two members as of
29.01.2026: Andrus Allikoja and Danel Hirbaum.

Andrus Allikoja
Nordic Fibreboard AS
Chairman of the Management Board