**LION E-Mobility AG: Ian Mukherjee to assume Role of Chairman of the Board of Directors
Zug, June 3, 2026** - LION E-Mobility AG (“LION”) announces that Ian Mukherjee, the Company’s majority shareholder, will assume the role of Chairman of the Board of Directors. Alessio Basteri, who has served as Chairman since 2019, will continue to serve as a member of the Board of Directors and will take on an increased operational role, with a particular focus on driving LION’s Battery Energy Storage System (“BESS”) business in Italy. The changes are subject to approval by shareholders at the Annual General Meeting scheduled for 25 June 2026.
The Board of Directors believes this transition reflects sound corporate governance practice and positions LION to pursue its strategic priorities with focused leadership.
Italy represents one of the most attractive markets in Europe for BESS deployment, driven by strong regulatory tailwinds, ambitious renewable energy targets, and a rapidly growing demand for grid-scale energy storage solutions. LION is well positioned to capture this opportunity.
Ian Mukherjee, member of the Board of Directors of LION E-Mobility AG: “I would like to express my sincere gratitude to Alessio Basteri for his outstanding leadership as Chairman of the Board of Directors over the past years. Under his guidance, LION has made significant strides in establishing itself as a recognized player in the battery pack and energy storage space. I am truly pleased that Alessio will remain an integral part of the Board and that he will bring his expertise and network to bear directly in Italy, where the potential for BESS is exceptional. I look forward to working closely with him and the entire Board as we accelerate LION’s next phase of growth.”
The proposals to be voted on at the AGM on 25 June 2026 will be set out in the formal invitation to the Annual General Meeting, which will be published in due course.
The company’s majority owner Ian Mukherjee will move to the position of Chairman of the Board; the election is practically certain as, according to my calculations, he already owns 58.9% of the company.