Pollard Banknote Limited announced that Garry Leach has resigned from the Board of Directors of Pollard Banknote effective March 4, 2022
due to health reasons. The Governance and Nominating Committee of Pollard Banknote will begin its recruitment of a replacement Director immediately. With the resignation, John Pollard has been appointed to the Audit Committee effective immediately to serve as the third member, until a new independent director is appointed to the Board and to the Audit Committee. The Board of Directors, upon the recommendation of the Companies' Governance and Nominating Committee, determined in accordance with Section 3.9 of National Instrument 52-110, Audit Committees, that the appointment of John Pollard as an interim member of the Audit Committee and the reliance on the exemption in Section 3.5 from the independence requirements will not materially adversely affect the ability of the Audit Committee to act independently and to satisfy the requirements of National Instrument 52-110. The Company is entitled to rely on this exemption for up to six months.