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In the summer of 2018, CEO Øivind Horpestad announced to the Board of Directors that he wanted to resign as the CEO of NRC Group during 2019. Since that time, the Board of Directors has worked actively to find his replacement.

During the last nine years, Horpestad has been central in the establishment and development of NRC Group. First as founder and managing director of Team Bane before entering the position as CEO of NRC Group during spring 2016. Over the past few years, NRC Group has established itself as the leading Nordic rail infrastructure entrepreneur. Through multiple mergers and acquisitions NRC Group has now a strong platform for further growth and development. Øivind has been crucial to this development, and the Board of Directors would like to thank Horpestad for the important role he has had in NRC Group.

At a Board meeting held the 19th of March, Henning Olsen was appointed as the new CEO of NRC Group.

Henning Olsen comes from the position as executive vice president in AF Gruppen, where he has been responsible for the Building business area in Norway since 2016. His previous roles in AF Gruppen include head of AF Eiendom, financial director within AF Bygg Oslo and group controller. Before joining AF Gruppen in 2010, he has been employed at Statkraft and Boston Consulting Group. Olsen holds a Master of Science degree in Business from BI Norwegian Business School (2003).

Olsen has extensive experience from leading a project-oriented organisation, including project management, strategy and business development, and M&A. The Board of Directors believe that Olsen has the professional and personal qualities that are required to lead and further develop NRC Group, and is very excited that he will enter his new role during this spring.

For further details, please contact;

Chairman of the Board of Directors Helge Midttun, mobile +47 913 35 790

CEO Øivind Horpestad, mobile +47 910 00 626

Henning Olsen, mobile +47 917 41 592

About NRC Group

NRC Group is the largest rail infrastructure entrepreneur in the Nordic region, with strong presence in Norway, Sweden and Finland. The company is a turnkey supplier of all rail related services, in addition to providing services to any transport related infrastructure such as roads, harbours, bridges and tunnels.

NRC Group has experienced significant growth since its inception in 2011 and is today the leading entrepreneur within rail infrastructure in the Nordics. The company has regional offices throughout Norway, Sweden and Finland and is headquartered at Lysaker, nearby Oslo, In Norway. The group has a revenue of approximately NOK 6 billion and approximately 2,450 employees. NRC Group is listed on the Oslo Stock Exchange under ticker “NRC”. The company’s chief executive officer is Øivind Horpestad.

For further information, visit www.nrcgroup.com.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.