The Nomination Committee´s proposal for a new chairman of the board and board in AQ Group AB

The Nomination Committee in AQ Group AB has informed the company to propose existing board member Claes Mellgren as new board chairman, Kristina Willgård as new board member and that the number of board members will be reduced from eight to six, at the Annual General Meeting on April 20, 2023. The board members Gunilla Spongh, Lars Wrebo, Ulf Gundemark and Per Olof Andersson are proposed for re-election.

The chairman of the board, Patrik Nolåker, has announced that he will not stand for re-election to the board. Board members Annika Johansson-Rosengren and Vegard Søraunet have informed the Nomination Committee that they are not running for re-election as board members.

The Nomination Committee proposes that the Annual General Meeting in 2023 elect six regular board members without deputies consisting of the following people:

Claes Mellgren (re-election), Chairman
Gunilla Spongh (re-election)
Lars Wrebo (re-election)
Ulf Gundemark (re-election) 
Per Olof Andersson (re-election) 
Kristina Willgård (new board member)                              

Kristina Willgård was born in 1965 and has a M.Sc. in economics. She most recently came from a position as Group CEO at the Life-Science company AddLife with 80 subsidiaries, from where she left in September 2022. Prior to that, she was CFO at Addtech, a technology trading company with roughly 140 subsidiaries. Kristina has long and solid experience in a listed environment and various companies in technology and manufacturing. Kristina is currently a board member of Mölnlycke Health Care, Ernströmgruppen and the Addnode Group

Claes Mellgren was CEO of AQ Group between 2010 and 2018 and is now board member since 2018. Claes Mellgren is one of the founders of AQ Group.

Hans Christian Bratterud, chairman of the Nomination Committee, comments: "The Nomination Committee is very pleased to be able to propose Claes Mellgren as the new chairman of the board. We are convinced that Claes, with his background in AQ and long industrial experience, will contribute with a chairmanship that is right for the company. The Nomination Committee also wants to highlight the important contributions that Patrik Nolåker has made during his time as chairman of the board for the company."

The Nomination Committee's complete proposal is presented in the notice to AQ Group's Annual General Meeting, which will be held on April 20, 2023.

The Nomination Committee consists of Henrik Carlman (Aeternum Capital), Hans Christian Bratterud (ODIN Fonder) Chairman of the Nomination Committee, Per Olof Andersson (own holding) and Claes Mellgren (own holding).

For further information, please contact:

Chairman of the Nomination Committee: Hans Christian Bratterud, ODIN Fonder, ir@aqgroup.com

The company's IR contact: CEO James Ahrgren, Telephone +46 76 052 58 88

This disclosure contains information that AQ Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was provided through the above contact person, for publication on 2023-02-09 at 17:00 CET.

AQ is a global manufacturer of components and systems to demanding industrial customers and is listed on Nasdaq Stockholm’s main market. The Group headquarter is in Västerås, Sweden. AQ has, on December 31, 2021, in total about 6 500 employees in Bulgaria, Poland, Sweden, Lithuania, Estonia, China, Hungary, Mexico, Finland, Canada, India, USA, Italy, Brazil, Serbia and Germany. In 2021 AQ had net sales of about SEK 5.5 billion. For further information: www.aqgroup.com