Zug (Switzerland), 18.01.2024 – LION E-Mobility AG, a leading battery pack manufacturer specializing in e-mobility and energy storage solutions, is pleased to announce the appointment of Dr. Joachim Damasky as its Chief Executive Officer, effective 1^st February, 2024. Dr. Damasky, a renowned expert in the automotive industry, is set to lead LION through the upcoming phase of corporate development. His extensive and invaluable experience positions him as an instrumental guide in this endeavor.

Dr. Damasky brings a wealth of experience and expertise to LION, having served in prominent leadership roles in the automotive industry. As the former Managing Director for Technology and Environment at the German Association of the Automotive Industry (VDA), Dr. Damasky has a proven track record of strategic vision, successful divisional realignment, and a deep understanding of emerging technologies.

With a background in electrical engineering and a distinguished career that includes key positions at Hella KGaA Hueck & Co. and Webasto SE, Dr. Damasky's leadership has been marked by transformative initiatives and significant accomplishments. His experience in steering companies through dynamic industry shifts, coupled with his focus on quality improvement and cost-effective solutions, makes him an ideal fit to lead LION into a new era of growth and innovation.

President of the Board, Alessio Basteri, expressed his enthusiasm for the appointment, stating, "We are extremely pleased to welcome Dr. Joachim Damasky as Chief Executive Officer of LION. Dr. Damasky's remarkable industry insight and proven leadership will undoubtedly propel us into a future marked by innovation, growth, and sustained success. We eagerly anticipate the transformative impact he will bring to our company and the inspiring journey that lies ahead under his guidance."

Dr. Damasky added "I am honored to lead LION on its promising next phase as battery pack manufacturer and contribute to its legacy of innovation. The 2^nd generation battery packs and the immersion cooling technology are the cornerstones of our business in the short term, with many other opportunities to pursue in the future. I look forward to working with the talented team to drive the company's success in a rapidly evolving market."

About LION E-Mobility AG:
LION E-Mobility AG is a listed Swiss holding company founded in 2011 with promising strategic investments in the e-mobility sector, especially in the field of electrical energy storage and lithium-ion battery system technology. The company holds 100% of the German LION Smart GmbH, a developer of battery packs and battery management systems. LION Smart GmbH also holds a 30% stake in TÜV SÜD Battery Testing GmbH, a successful joint venture with TÜV SÜD AG. LION E-Mobility AG also holds 100% of the shares in LION E-Mobility North America Inc., LION Smart North America Inc. and 100% of the German LION Smart Production GmbH.

www.lionemobility.com

Responsible for the press release: Board of Directors LION E-Mobility AG

LION E-Mobility AG
Alessio Basteri
Chairman of the Board

LION E-Mobility Investor Relations
Kirchhoff Consult
lion@kirchhoff.de
ir@lionemobility.com

Disclaimer:
Statements that express or contain forecasts, expectations, views, plans, goals and assumptions regarding future events or performance are not considered historical facts and may therefore be forward-looking statements. Forward-looking statements are based on the expectations, estimates and plans at the time the statements were made, and therefore involve a number of risks and uncertainties that could cause actual results or events to differ materially from those currently anticipated become. LION E-Mobility AG is under no obligation to update the forward-looking statements in this press release.