Purchasing Director. Throughout his career, Rami has made a point of being very open about his goals to move forward. But aside from a four-month-long period at the beginning of his career, he has never pursued new challenges outside of Lars Larsen Group – though, naturally, the idea has crossed his mind: “I think it would be strange, if I had never considered working elsewhere. It is only natural to evaluate your options, when you are looking for change and growth. But JYSK has continually done a fantastic job of offering me challenges that have encouraged me to develop and expand my skillset within the com- pany. And the organisation has always been growing, which again has opened new doors to me. I think it is important to be able to have that open, ongoing conversation about your ambitions, instead of waiting around and hoping for a windfall,” he says. After a little over a year as Purchasing Director, Rami was offered the position of Executive Vice President and put in charge of business development. He became part of the executive management team and was involved in the development of the ‘Customer First’-strategy. He was also responsible for retail development, which involved creating new concepts in order to elevate the in-store customer experience. “Creating measurable results has always been a driving force for me.” Rami Jensen Trying on the CEO-role In 2014, Lars Larsen Group acquired Senge­Specialisten (SENG), and with his ex- perience in business development Rami became a member of the board. Later, in 2016, he took on a second job, when he became CEO of SengeSpecialisten whilst still working at JYSK. During his time as CEO, the concept, which to this day characterises the SengeSpecialisten-stores, was developed, and more stores were opened. In 2018, SengeSpecialisten had reached a size that required a CEO dedicated fulltime to the company. Mission accomplished. In fact, Rami repeatedly proved capable of executing a strategy regardless of the circumstances. In 2018, he was once again up for the challenge when offered to take on the fulltime role of CEO at ILVA, a company that became part of Lars Lars- PAGE 34 Rami Jensen, Deputy President and CEO of JYSK

en Group in 2013. At ILVA, Rami became responsible for turning around a busi- ness that had struggled to be profitable for a number of years. And he was well aware that coming to ILVA would be a way of testing his abilities outside of JYSK: Today, JYSK employs 30,000 people and is present in 48 countries with more than 3,200 stores. Being at the helm comes with big responsibility. But this has not consumed Rami’s thoughts in the decision-making process: “In JYSK, there are so many well-described processes, and the company runs like a well-oiled machine by now, so if I were to really prove myself it made sense to do it outside of JYSK. But I was very motivated to solve the task at hand. Creating measurable results has always been a driving force for me”, he says. “From an outside perspective it can seem overwhelming. JYSK is a major co- operation and there are so many people and processes involved. But the way I see it, I get to do this job as part of a huge team. It is not about ‘me’, it is about ‘us’. We are going to do this and create results together and I am very excited about that," he says. “I highly respect the ILVA-team for their work and dedication in the process. And the success becomes self-reinforcing, because it enables you to believe in the next goal you set out to achieve.” Rami Jensen Through a complex streamlining process that, among many other difficult deci- sions, involved the merger of ILVA with the sister brand IDEmøbler and closing down a third brand, IDdesign, profitability went up and in 2021 ILVA was able to present its first positive result since 2009. “I think we succeeded by making some tough decisions, determining a direc- tion, and having the courage to stick with it. I highly respect the ILVA-team for their work and dedication in the process. And the success becomes self-reinforc- ing, because it enables you to believe in the next goal you set out to achieve. All the small victories accumulate,” Rami says. The power of ‘yes’ Throughout his career, Rami’s motivation has been the potential to grow, pro- fessionally as well as personally. New challenges and the prospect of making a difference and delivering strong results have been important factors when determining his next move. When offered a new opportunity his instincts have always told him to say ‘yes’. “I do not recall having ever turned down an opportunity offered to me by Lars Larsen Group, because I trusted their faith in my ability to succeed and grow with the new challenges I was faced with,” he explains. Continued dedication When he is not working, Rami prefers to devote as much time as possible to his family, friends, and not much else. “I actually enjoy not having a lot of plans and activities scheduled. It is a pleasant contrast to a busy everyday life. Weekends are spent doing all the little things that we have less time for during the week. Recently, we bought a summer cottage by the sea, where we like to spend time together as a family and some- times have our friends come over," he says. Everyday life will most likely stay busy for Rami, when he fully takes over as President and CEO of JYSK as of 1 September 2023. Until then, as Deputy Presi- dent and CEO, he will work closely together with Jan Bøgh to ensure a smooth transition that does not interfere with the momentum of the business. JYSK will continue at full speed and so will Rami: “JYSK is a fantastic company with a strong company culture generating great results, and I have always been very happy and proud to be a part of it. I look forward to continuing the great work with all the skilled people in JYSK and I intend to continue to bring dedication every day.” Thus, there was no doubt in Rami’s mind, when he was offered to come back to JYSK and take on his biggest challenge yet: In September 2023, he will be taking over as President and CEO of the company after Jan Bøgh, who has been appointed President and CEO of Lars Larsen Group Retail. LARS LARSEN GROUP | ANNUAL REPORT 2021/22 | TRADESMANSHIP | PAGE 35

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