Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 26, 2022, Bryan R. Johnson, the Vice President of Finance and Principal Accounting Officer of Enerpac Tool Group Corp. (the "Company"), submitted his resignation, effective as of November 1, 2022, as an officer and employee of the Company due to a material reduction in the scope of his role and responsibilities as the result of changes implemented to flatten the Company's organizational structure. Mr. Johnson's resignation constitutes a qualified termination under the Company's Key Employee Severance Plan and accordingly he is entitled to the following benefits under that plan in connection with his resignation: a lump sum payment equal to 12 months of his base salary; eligibility for a prorated annual bonus based on performance for the fiscal year ending August 31, 2023; a lump sum payment equal to 12 months coverage of COBRA continuation coverage for medical, dental and vision insurance; prorated vesting of outstanding unvested restricted stock units; and outplacement services. Mr. Johnson's resignation does not reflect any disagreement with or irregularities in the Company's accounting principles, practices, financial statements or disclosures.

On October 27, 2022, the Company's Board of Directors appointed Anthony P. Colucci, the Company's Executive Vice President and Chief Financial Officer, to also serve as the Company's principal accounting officer. Biographical information with respect to Mr. Colucci is included under the heading "Executive Officers of the Registrant" in Part I, Item 1 of the Company's Form 10-K for the fiscal year ended August 31, 2022 , which information is incorporated herein by reference.

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