TES Announces Appointment of Marco Alverà as Group CEO

in the company.

TES will accelerate the energy transition by building some of the world's largest hydrogen projects, leveraging existing global energy infrastructure for quicker and lower-cost hydrogen transportation, at a time when hydrogen is positioned for massive scale up to help meet global decarbonisation goals. Mr. Alverà brings to TES 20 years of experience as a leader and CEO in energy companies and extensive hydrogen expertise, which will help to drive innovative projects forward and fast-track decarbonisation goals in Europe and beyond.

As a first project, the Wilhelmshaven Green Energy Hub, in Germany is set to supply 250 TWh per year of long-term, non-intermittent carbon-neutral energy to Germany - accounting for 10% of supply – by 2045. Overall investment for the first phase is planned to be circa €2.5 Billion, with first supplies by early 2026, also materially contributing to Germany's and Europe's decarbonisation and security of supply. Production and export terminal locations for hydrogen are being developed in the Middle East and North America.

Commenting on the announcement executive co-chairs of TES, Paul van Poecke and Marcel van Poecke, said: "We are excited to have attracted an outstanding executive to lead TES as the company embarks on a bold new chapter. Marco has had a distinguished career in major energy companies, having been the CEO of SNAM, a world-leading energy company and hydrogen leader, for the last six years. He is recognised as a global leader in the energy transition with unrivalled experience, particularly in hydrogen. Marco has the skills and experience to further develop TES to its full potential. He is an authentic, progressive leader with a passion and clear sense of how to tackle the decarbonisation agenda."

Marco Alverà said: "I am impressed by the team at TES and the platform they have created. They share my vision of fast-tracking the energy transition in cost-effective ways by using existing infrastructure to accelerate the supply and access of green hydrogen. This exciting opportunity will allow me to continue my life's work of pushing the energy transition forward through innovative hydrogen projects. I am honored to invest in and usher this industry leading company through its next chapter, and I look forward to leveraging my experience across both electricity, gas and hydrogen at a time when Europe and the world are raising ambitions and targets to achieve decarbonisation and energy security. TES will make a material contribution to deliver cheaper, safer and sustainable energy to our mobility, industry and power customers."