BWX Limited announced the appointment of Mr. Marcus Derwin as an independent non- executive director of the Company and Chair of the Audit & Risk Committee with effect on 10 February 2023. Mr. Derwin is a highly experienced executive and director with an extensive background in corporate restructuring and M&A. He has operated across a number of industry sectors and international markets, including the Americas and the UK over the past 25 years. He has held senior roles at PwC, NAB, AMP Capital and KPMG through his professional career.

He is a qualified Chartered Accountant (CA ANZ) since 1990 and a member of the AICD (MAICD) since 2002. BWX welcomes Mr. Derwin. Mr. Ian Campbell has resigned as a non-executive director of the Company with effect on 10 February 2023.

Mr. Campbell was appointed as a Non-Executive Director of BWX in 2015, before being appointed as Chair in September 2018. He also served as Chair of the People & Culture Committee since July 2020. He made a significant contribution to BWX including helping to guide the business through its Initial Public Offering in 2015, the global pandemic and at the same time overseeing BWX's move to its new head office and manufacturing hub in Clayton, Victoria.

BWX would like to sincerely thank Mr. Campbell for his contributions to BWX. BWX remains committed to Board renewal and is still seeking to appoint at least one additional independent non-executive director.