Hygrovest Limited Board has appointed Mr. Jason Byrne as an Independent Non-Executive Director, effective immediately. Warwick Sauer, who joined HGV's Board in March 2023, has been appointed Independent Non-Executive Chairman of the Company. In March 2023, Messrs Peter Wall and Doug Halley advised of their intention to resign from the HGV Board upon a new Investment Manager being appointed.

In light of the anticipated imminent confirmation of that Manager, both Messrs Peter Wall and Doug Halley are retiring effective immediately. Peter Wall has been Non-Executive Chairman of the Company's Board since 2014 and was a member of the Audit and Risk Committee. Doug Halley joined the Company's Board in March 2018 and was Chairman of the Audit and Risk Committee.

Following Board changes, the HGV Board will assume the responsibilities previously delegated to the HGV Audit and Risk Committee (ARC), as the number of Directors on the Board has reduced to three persons and therefore the composition of the ARC would be the same as the Board. In doing so the Board determined that the function of the ARC is most efficiently carried out with full Board participation and has reviewed the Board Charter and its processes to ensure integrity of corporate reporting is maintained. Warwick has been a Non-Executive Independent Director of Hygrovest Limited since March 2023.

Warwick is a corporate lawyer with 25 years' experience, focusing on commercial law, capital markets, mergers and acquisitions, and litigation. He spent 14 years with Property Services Multinational JLL, including seven years as General Counsel for JLL's $4b APAC business, managing a team of 75. Warwick is also a Director of a privately held investment company which focuses primarily on investing in deep value and `net/net' stocks, and assisting management in realising that value.

Warwick has a Bachelor of Commerce majoring in Financial Accounting and a Bachelor of Laws, both from the University of Queensland. Jason has 30+ years' experience building businesses in a wide variety of industries - wagering technology, digital place based advertising, e-commerce, legal technology, apparel logistics, procurement technology, and offshore development. Jason also works with other companies assisting them to create, build, pivot, grow, acquire, or sell.

Jason is a Non-Executive Director at Amblique Pty Ltd. and Motio.