Pressrelease from PowerCell's nomination committee:
The annual general meeting decided on April 24, 2020, to appoint a nomination committee for PowerCell Sweden AB (publ) (http://www.powercell.se), consisting of one representative each from the three largest shareholders as of July 30, 2020, plus one representative from the board of PowerCell. These representatives have now been appointed.

The three largest shareholders in PowerCell as of 30 July 2020 who, upon request, also expressed their interest in participating in the nomination committee, were: Robert Bosch GmbH, Fouriertransform and Livförsäkringsbolaget Skandia. The parties have appointed one representative each as below, and they, together with the representative from the board, form PowerCell's nomination committee 2021.

In accordance with the decision of the general meeting, the following members have been appointed:

Achim Moritz, Bosch, representing Robert Bosch GmbH;

Christer Jönsson, Saminvest, representing Fouriertransform;
Oskar Börjesson, Livförsäkringsbolaget Skandia, representing Livförsäkringsbolaget Skandia;

Magnus Jonsson, convener member of the nomination committee, representing the board of PowerCell Sweden AB.

PowerCell's annual general meeting for 2021 will take place in Gothenburg on April 22, 2021. Time and location will be announced in conjunction with the publication of the notice of the Annual General Meeting 2021.

Shareholders wishing to submit board member proposals to PowerCell's nomination committee are welcome to do so via e-mail to: valberedning@powercell.se or by writing to: PowerCell Sweden AB, Att: Nomination Committee, Ruskvädersgatan 12, SE-418 34 Gothenburg, Sweden, by February 26 2021, at the latest.

For further information, please contact:

Magnus Jonsson

Chairman, PowerCell Sweden AB (publ)
Phone: +46 708 20 00 60
Email: ab.magnusjonsson@me.com

About PowerCell Sweden AB (publ)

PowerCell Sweden AB (publ) develops and produces fuel cell stacks and systems for stationary and mobile applications with a world class energy density. The fuel cells are powered by hydrogen, pure or reformed, and produce electricity and heat with no emissions other than water. As the stacks and systems are compact, modular and scalable, they are easily adjusted to any customer need.

PowerCell (http://www.powercell.se/) was founded in 2008 as an industrial spinout from the Volvo Group. The share (PCELL) is since 2014 subject to trade at Nasdaq First North Growth Market, Stockholm. G&W Fondkommission is Certified Adviser, e-mail: ca@gwkapital.se, phone: +46 8 503 000 50.

https://news.cision.com/powercell-sweden-ab/r/nomination-committee-appointed-for-powercell-s-annual-general-meeting-2021,c3219689

https://mb.cision.com/Main/16816/3219689/1321731.pdf

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