Proposed changes in the composition of the FLSmidth & Co. A/S Board of Directors

FFLSmidth

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COMPANY ANNOUNCEMENT NO. 13-2024
20 December 2024, Copenhagen, Denmark

The FLSmidth & Co. A/S Board of Directors announces the following proposed changes to the Board ahead of the Annual General Meeting on 2 April 2025:

• Current Vice Chair, Mads Nipper, is proposed to be elected as Chair of the Board, succeeding the current Chair, Tom Knutzen, who has decided to not seek re-election
• Christian Bruch is proposed elected as a new member of the Board and assume the role of Vice Chair
• Rune Wichmann and Lars Engström are proposed elected as a new members of the Board
• Daniel Reimann will not seek re-election to the Board

Following a 12-year tenure, Tom Knutzen has decided to step down as Chair of the Board and not seek re-election. After joining the Board as a member in 2012, Tom Knutzen was elected Vice Chair in 2017 and Chair in 2022. During his tenure, Tom Knutzen has overseen a significant company-wide transformation, including; completion of the acquisition and integration of thyssenkrupp’s mining business; creation of pure play strategies for the Mining and Cement businesses with enhanced strategic focus on services and core technologies; carve out and ongoing exit of all non-core mining activities; as well as the announced intention to explore divestment of the Cement business.

Succeeding Tom Knutzen, the Board recommends the election of Mads Nipper, who has been a member of the Board since 2022 and serves as the current Vice Chair. Mads Nipper has an extensive experience within management of global companies as well as the personal qualifications required to be Chair. Mads Nipper currently serves as CEO of the multinational renewable energy company Ørsted in Denmark and previously served as CEO of Grundfos and CMO at Lego.

Daniel Reimann, who was elected to the Board in 2023, will not seek re-election at the Annual General Meeting in April 2025.

Three new profiles proposed to join the Board
Christian Bruch has a doctorate in Engineering from the Swiss Institute of Technology Zurich. He brings close to 25 years of management experience in various industries with a special focus on process and energy technologies . Christian has since 2020 served as the President and CEO of Siemens Energy. Prior to that he held various executive roles with Linde AG, most recently in the Executive Board being responsible for the Engineering Division, Technology & Innovation and Digitalisation. Christian Bruch is proposed to assume the role of Vice Chair.

Rune Wichmann will contribute with his experience from Private Equity and Consulting including strategy development, aftermarket commercial excellence, M&A, capital markets, finance and accounting. Rune has since 2022 served at Altor Equity Partners, currently as a Partner, and prior to that he served for more than 17 years at Bain & Company and Qvartz, latest as a Senior Partner. Rune has a MSc in Economics from the University of Copenhagen.

In addition, the Board proposes to elect Lars Engström as a member of the Board. This proposed expansion of the Board is recommended to further strengthen and broaden the competencies of the Board in terms of industry specific knowledge as well as broad-based global industrial experience to ensure FLSmidth is even stronger positioned for its future transformation and growth journey.

Lars Engström brings a wealth of global mining industry and industrial experience stemming from a distinguished career spanning more than 30 years with executive roles at Sandvik, Atlas Copco, Munters Group and BE Group. In his latest role Lars served as the President of the Mining & Rock Technology Business Area at Sandvik. Today, Lars serves as a Board Professional and serves on the Boards of Kalmar Oyj, Normet Group Oy and Alcadon Group as well as serves as an Advisor to Boart Longyear. Lars has a MSc in Industrial Engineering and Management from Linköping Institute of Technology.

Full information on the proposed members of the Board of Directors will be provided in the notice convening the Annual General Meeting, which will be disclosed in late February or early March 2025.

Contacts:

Investors Relations
Andreas Holkjær, +45 24 85 03 84, andh@flsmidth.com
Jannick Denholt, +45 21 69 66 57, jli@flsmidth.com

Media
Jannick Denholt, +45 21 69 66 57, jli@flsmidth.com

About FLSmidth

FLSmidth is a full flowsheet technology and service supplier to the global mining and cement industries. We enable our customers to improve performance, lower operating costs and reduce environmental impact. MissionZero is our sustainability ambition towards zero emissions in mining and cement by 2030. We work within fully validated Science-Based Targets, have a clear commitment to improving the sustainability performance of the global mining and cement industries and aim to become carbon neutral in our own operations by 2030. www.flsmidth.com.

Attachment

• FLSmidth Company Announcement no. 13-2024