CEO Thomas Heltborg Juul leaves GreenMobility

Company Announcement no. 117– 2022
Copenhagen, November 11^th, 2022

CEO Thomas Heltborg Juul leaves GreenMobility

Today, GreenMobility is operating in 6 countries and 11 cities. We have tripled the revenue base over the last three years, navigating challenging circumstances.

Thomas Heltborg Juul has as CEO for the past three years spearheaded that effort. GreenMobility is now ready for the next phase of development. The next phase for GreenMobility is to show that the green transition can be both profitable and cash flow positive. We are in the beginning of our internationalization phase, but clearly consumer sentiment and capital markets have changed. Hence the Board believe its time to revise the strategy for the shorter term. Today the Board has decided its time for a change of management and the Board have agreed with Thomas Heltborg Juul that he will leave the company with immediate effect.

Tue Østergaard, Chairman of the Board comments: “I would like to thank Thomas for his very strong contribution to the development of GreenMobility over the past three years as CEO. GreenMobility is in a good position, revenue has tripled, we have 1,600 electric vehicles and we have sufficient cash at hand to continue our development. On the other hand the change in consumer sentiment and capital markets mean that GreenMobility should focus more on shorter term profitability and on preserving cash. We want to recruit the right profile that can manage this and at the same time continue to position GreenMobility for the future.”

Thomas Helborg Juul comments: “Sometimes it's time for change and I support the boards view in this regard. I am proud of the results we have achieved during the past 5 years I have been with GreenMobility. 11 cities in Europe and growing revenue close to 100 mDKK. I want to thank all our amazing employees, customers, investors, and the board for the journey. A special thanks to Anders Wall for being a solid sidekick during all the years. All the best for GreenMobility in the future”

GreenMobility has initiated a search for the new CEO and has engaged Heidrick & Struggles in the process. Anders Wall (CFO) who has been a member of the executive management for the past 5 years will be acting CEO and COO Kim Hein will get extended responsibilities.

Contact and further information

Tue Østergaard, Chairman of the Board, +45 31 34 39 64 , email: [email protected]

About GreenMobility
GreenMobility offers modern urbanites easy, flexible, and sustainable transport in the form of electric shared city cars. Users have access to these cars via the GreenMobility app. Trips are paid per minute, through minute packages, on a daily basis or through a subscription. Today, GreenMobility operates a total of 1,600 EVs in Copenhagen, Aarhus, Malmö, Gothenburg, Antwerp, Gent, Brussels, Helsinki, Amsterdam, Düsseldorf and Cologne. More than 200,000 people are registered as customers at GreenMobility.

Driven by global megatrends, GreenMobility sees a rapidly growing market for carsharing in large cities that demand green transport for their citizens and aim to reduce the number of private cars. GreenMobility's ambition is to be among the leading global operators of green shared mobility solutions. GreenMobility is publicly listed for trading on the Nasdaq Main Market Copenhagen in Denmark.

Attachment

• CEO Thomas Heltborg Juul leaves GreenMobility