MotorCycle Holdings Limited Chair Mr. David Foster announced details of the planned Board renewal process for the company. As part of the company's succession plan, the company has appointed two highly credentialled directors with automotive and retail experience, Mr. Martin Ward and Ms. Katie McNamara, to the Board effective 1 November 20221. Mr. Ward's most recent role was as Chief Executive Officer of Eagers Automotive from July 2005 until February 2021.

Following his resignation from this position, he was appointed as advisor to the Board and the new CEO. In this role, Mr. Ward is responsible for Eagers' $470 million portfolio of owned properties, its leased real estate, and strategic investments. Mr. Ward is also a Director of Australian Automotive Dealer Association Limited (appointed January 2014).

Mr. Ward's earlier career includes international executive leadership roles in automotive distribution, retail and services companies across Asia, the Middle East, and Australia. Ms. McNamara brings more than 20 years' experience in top-tier consulting, retail and FMCG businesses. She has worked extensively across Asia, developing market entry strategies and defining and implementing digital transformation, particularly with a focus on consumer products and retail businesses.

She joined Super Retail Group in April 2019 as Chief Strategy and Customer Officer, where she had responsibility for corporate strategy integration and execution, analytics, marketing and customer strategy. She was previously Vice President Asia-Pacific for IBM, leading Digital Strategy and iX. In other Board changes announced, current Chair Mr. Foster will retire from the Board and Non-Executive Director Mr. Rick Dennis will step into the role of Chair, effective 23 December 2022.

Non-Executive Director Mr. Warren Bee will also retire from the Board on 23 December 2022.