Monadelphous Group Limited announced changes to the composition of the Board of Directors, in accordance with the Company's long-term Board succession plan, which will take effect at the conclusion of the Company's Annual General Meeting (AGM) on 22 November 2022. Following Mr. Rubino's retirement, Mr. Rob Velletri, Managing Director, will take on the role of Executive Chairman of the Board of Monadelphous Group Limited. Rob joined Monadelphous in 1989 as Group General Manager after having commenced his career at Alcoa.

He was appointed to the Monadelphous Board on 26 August 1992, assuming the role of Managing Director on 30 May 2003. Rob is a mechanical engineer with more than 40 years' experience in the construction and engineering services industry and is a member of the Institution of Engineers Australia. Under his guidance as Managing Director over the past 19 years, Monadelphous has become one of the most respected engineering services providers in Australia.

The Board unanimously supports Mr. Velletri's appointment to the role of Executive Chairman noting his thorough knowledge of the industry, the Company and its stakeholders, his demonstrated commitment and dedication to Monadelphous and the significant and valuable contribution he has made to Monadelphous for in excess of 30 years. Mr. Zoran Bebic will take on the role of Managing Director of Monadelphous Group Limited at the conclusion of the 2022 AGM. Zoran is a highly experienced senior executive, having worked at Monadelphous for almost 30 years across a broad range of operational, financial and management roles.

He is a Fellow Certified Practicing Accountant and holds a Bachelor of Business with a Double Major in Accounting and Finance. He commenced his career with Monadelphous in 1993 and has held various corporate and operational roles over that time. In 2009, Zoran was appointed to the position of Chief Financial Officer and Company Secretary, and since 2014 has been the Executive General Manager of the Company's Maintenance and Industrial Services division.

During Zoran's time at the helm of Maintenance and Industrial Services, the division has become a leader in the planning, management and execution of multidisciplinary maintenance services, sustaining works and turnarounds to the resources and energy sector. Through this period, the division has almost doubled sales revenue to over $1 billion per annum and strategically broadened its scope of services, geographies and customer markets. The Board unanimously believes that Zoran's personal attributes, Company and industry experience, financial acumen and deep understanding of the markets in which the Company operates makes him the ideal candidate to take on the role of Managing Director, working closely with Mr. Velletri.