Recticel : announces the departure of Olivier Chapelle as CEO and appoints Jan Vergote as new CEO

PRESS RELEASE

Regulated information - Inside information

Brussels, 31 August 2023 - 07:00 CET

Recticel announces the departure of Olivier Chapelle as CEO

and appoints Jan Vergote as new CEO

After the finalisation of the transformation of Recticel in a pure insulation player, the Board of Directors and Olivier Chapelle have agreed that after 13 years at the helm of Recticel, the timing was ideal to pass the torch to a new CEO, who would lead the next phase of expansion of the Company. Olivier Chapelle and the Board of Directors have aligned on a handover, to begin on 1 September 2023, with Jan Vergote who succeeds him. Jan Vergote will resign from all his operational functions at Baltisse Group.

Johnny Thijs, Chairman: "In the name of the Board of Directors, I wish to thank Olivier Chapelle wholeheartedly for having successfully transformed Recticel under difficult circumstances. The company can now fully focus on its next phase of expansion as a pure insulation player. The successor of Olivier, Jan Vergote, has accumulated a lot of experience as Managing Director and CEO in several European and international companies, active in the construction industry. He brings the experience needed to realize our ambitious growth targets."

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Press release - Recticel appoints new CEO - 31 August 2023 - 7:00 CET

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About Recticel

Recticel is a Belgian insulation company with a strong presence in Europe and the USA. It's overriding purpose is to accelerate the fight against climate change with solutions that advance a carbon-free economy and a better quality of life.

Recticel operates through four main activities. Recticel Insulation Boards designs thermal insulation boards and easy-to install thermo-acoustic boards for optimal comfort and energy efficiency in buildings. Trimo Insulated Panels enables the highest aesthetic standards and extends architectural possibilities, primarily in non-residential applications. Soundcoat Acoustic Insulation engineers noise control solutions used in some of the world's leading technological innovations. Turvac Vacuum Insulation provides vacuum insulation panels for cold chain activities in industries ranging from food to pharma.

At the end of 2022, Recticel employed 1,325 people in 11 facilities spread over seven countries and achieved sales of €587.8 million.

The company recently formalised its net zero emissions targets by submitting them to the Science Based Target initiative (SBTi).

Recticel is listed on Euronext in Brussels (Euronext: RECT - Reuters: RECT.BR - Bloomberg: RECT:BB).

Financial calendar

Third quarter 2023 trading update

27.10.2023 (07:00 AM CET)

Investor Relations

Dirk Verbruggen

Chief Financial & Legal Officer [e-mail] [phone]

Recticel

avenue du Bourget/Bourgetlaan 42 1130 Brussels - Belgium

This press release is available in English and Dutch on www.recticel.com

Press release - Recticel appoints new CEO - 31 August 2023 - 7:00 CET

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