Exel Composites Oyj - Decisions of general meeting

Resolutions of the Exel Composites Extraordinary General Meeting 2024

EXEL COMPOSITES PLC     STOCK EXCHANGE RELEASE     17 MAY 2024 AT 12:40 EEST

The Extraordinary General Meeting (EGM) of Exel Composites Plc (the “Company”)
was held today on 17 May 2024 at Scandic Marina Congress Center in Helsinki,
Finland.

Authorisation to resolve on a rights offering

The Company is planning on conducting a rights offering of up to approximately
EUR 23 million (the “Offering”) in accordance with the stock exchange release
disclosed by the Company on 25 April 2024.

The EGM authorised the Board of Directors to resolve on the Offering as follows:

The shares to be issued under the authorisation are new shares. Under the
authorisation, a maximum of 265 million shares can be issued.

The shareholders have a pre-emptive right to the new shares in the same
proportion as they already hold shares in the Company. However, shares not
subscribed by shareholders may be offered on a secondary basis for subscription
by other shareholders or by other persons. The Board of Directors is entitled to
decide to whom the shares that remain unsubscribed will be offered.
Subscriptions will be paid in cash.

The Board of Directors is authorised to resolve on all other terms and
conditions of the Offering.

The authorisation is valid until 31 December 2024.

The authorisation does not revoke the authorisation granted by the Annual
General Meeting on 26 March 2024 to the Board of Directors to resolve on share
issues and granting of special rights entitling to shares.

The minutes of the EGM will be available at
https://investors.exelcomposites.com/ on 31 May 2024, at the latest.

Helsinki, 17 May 2024

Exel Composites Plc
Board of Directors

For further information, please contact:

Lilli Riikonen, Head of Investor Relations

investor@exelcomposites.com

tel. +358 50 351 1128

Mikko Rummukainen, CFO
tel. +358 20754 1335

Exel Composites in brief

Exel Composites is one of the largest manufacturers of composite profiles and
tubes made with pultrusion and pullwinding technologies and a pultrusion
technology forerunner in the global composite market. Our forward-thinking
composite solutions made with continuous manufacturing technologies serve
customers in a wide range of industries around the world. You can find our
products used in applications in diverse industrial sectors such as wind power,
transportation and building and infrastructure.

Our R&D expertise, collaborative approach and global footprint set us apart from
our competition. Our composite solutions help customers save resources, reduce
products' weight, improve performance and energy efficiency, and decrease total
lifetime costs. We want to be the first choice for sustainable composite
solutions globally.

Headquartered in Finland, Exel Composites employs over 600 forward-thinking
professionals around the world and is listed on Nasdaq Helsinki. To find out
more about our offering and company please visit www.exelcomposites.com.