KORVEST LTD — Board/Management Information 2016

Jul 27, 2016

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ASX Release

Board Changes

Retirement – Peter Brodribb

Korvest Ltd wishes to advise that Peter Brodribb has retired today as a Korvest Director bringing to an end an extended period of outstanding service.

Mr Brodribb joined the company in April 1978 and became Managing Director in 1984. He retired as Managing Director in January 2005 and immediately became a non-executive director. He has served in that capacity until his retirement.

The Board thanks him for his vast contribution to Korvest and wishes him all the best for his retirement.

Appointment – Andrew Stobart

The Board is pleased to announce that Andrew Stobart has been appointed to fill the vacancy created by Mr Brodribb’s retirement and will commence as a Director on 1 August 2016.

Mr Stobart is an experienced senior executive in the consumer and industrial sectors. He has extensive experience in senior management positions in large and complex organisations.

Recently Mr Stobart has been providing advisory services to a number of early stage enterprises. Previously Mr Stobart was Managing Director and Chief Executive Officer for Olex Holdings Pty Ltd. He led the divestment of the then Pacific Dunlop owned energy cable business to a management buy-out group sponsored by AMP Asset Management and Catalyst. Subsequently he led the sale of the business (by then known as Olex) to Nexans SpA, the world’s largest cable company.

Mr Stobart currently sits on a number of private company boards.

For further information please contact:

Mr Graeme Billings Chairman 0408 572 729 28 July 2016