Change in Caverion’s Group Management Board: Manfred Simmet appointed as a transitional Head of Caverion’s Division Germany

Manfred Simmet (born 1966, Engineer) has been appointed as a transitional Head of Caverion's Division Germany as of 19 January 2021. He will also continue in his current position as the Head of Caverion's Division Austria and a member of the Group Management Board of Caverion Corporation. His expertise in driving a profitable business - with a focus on projects - and his leadership qualities will be of great value to continue the positive development of Caverion's operations in Germany.

Frank Krause, the previous Head of Caverion's Division Germany, has been leading the division for two years and the German Services business for three years prior to that. He has made a great effort in continuing the German Projects business turnaround and preparing the Services business for growth.

"We have successfully developed our Service business in Germany over the last years. Now it is time to accelerate our efforts for growth in solutions and Smart Tech whilst gradually increasing our focus in Projects to an early engagement in the Design and Build phase. Manfred Simmet has successfully executed profitable growth for project business while gradually increasing the services business in Austria. I thank Frank Krause for his significant contribution in developing Caverion and especially for steering the German business through the challenging times over the recent years," says Ari Lehtoranta, President and CEO of Caverion Corporation.

The CV and photo of Manfred Simmet are available on Caverion's website at http://www.caverion.com/investors/corporate-governance/management-board.

CAVERION CORPORATION

Distribution: Nasdaq Helsinki, key media, www.caverion.com

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