Platinum Investment Management Limited announced that Jeff Peters will also join the Board as Managing Director. As foreshadowed in the Chair's letter to shareholders in October 2023, utilizing Mr. Peters' appointment as an opportunity to restructure the Board's composition to ensure that it remains independent and meets best practice corporate governance standards. With over 30 years of industry experience, Mr. Peters brings to Platinum an extensive asset management background, together with strategic and management consulting skills.

He previously led the institutional and international businesses of two large global asset management firms, Columbia Threadneedle Investments and Putnam Investments, respectively, following his time running the asset management practice at McKinsey. Jeff was educated at Princeton University and holds an MBA from Harvard Graduate School of Business Administration. Accordingly, the existing executive directors, Andrew Clifford, Elizabeth Norman and Andrew Stannard will step down from the Board.

Mr. Clifford will continue in his role as Co-Chief Investment Officer ("CIO") and Ms. Norman and Mr. Stannard will continue to perform their management duties, reporting to the new CEO. These changes will take effect on Mr. Peter's Commencement Date. Following these changes, the Board will comprise the following independent Non-Executive Directors - Guy Strapp (Chair), Anne Loveridge, Brigitte Smith, Philip Moffitt along with Jeff Peters, as Managing Director.