ROCKWOOL A/S Board of Directors to call for Extraordinary General Meeting

May 5, 2022

Purpose is to seek shareholder approval to utilise significant resources for Ukraine’s reconstruction

Thomas Kähler, Chairman of the Board of Directors, ROCKWOOL A/S

In continuation of the Board of Directors’ announcement at the company’s Annual General Meeting on 06 April 2022 that ROCKWOOL will actively contribute to the reconstruction of Ukraine, the Board has decided to call for an Extraordinary General Meeting to be held in August to seek shareholder approval for a proposal to utilise between 100-200 MDKK prior to the 2023 Annual General Meeting to support this goal. We will engage in relevant projects and contribute with construction materials, know-how, and financial resources to support reconstruction efforts, subject to circumstances in the country allowing for it.

As communicated at the recent AGM, if we were to cease operations in Russia, we are convinced that our business, technology, and other assets would be nationalised and that this would not contribute to ending the war more quickly, but would instead transfer substantial value to Russia. It remains our view that by retaining control of our business, we are doing what is least good for the Russian regime.

ROCKWOOL A/S Board Chairman Thomas Kähler says:

“It has been important for the Board to follow up on our commitment at the AGM to take concrete actions to actively support the reconstruction of Ukraine. For us, this is not just about sending a cheque but rather to create an organisational infrastructure to develop and execute on-the-ground support projects”.