XP Factory announced the appointments of Martin Shuker as Senior Independent Non-Executive Director of the Company and Philip Shepherd as independent Non-Executive Director of the Company with effect from the conclusion of the Company's Annual General Meeting to be held later on June 29, 2022 . In addition, Karen Bach will be stepping down as the Company's Senior Independent Non-Executive Director upon the appointments of Martin Shuker and Philip Shepherd. Martin Shuker: Martin has had a long and distinguished career with Yum Brands, the US Fortune 500 Global hospitality business.

He spent 24 years in a variety of leadership roles, most recently as Managing Director KFC Western Europe where he had full strategic, growth and operational responsibility over 1,700 restaurants and 165 franchisees which generated £2.3 billion in sales and £120 million of profit. As MD of KFC UK, he more than doubled sales to £1.3 billion and met or exceeded targets in 11 of 13 years. Martin has demonstrated his ability in consistently achieving growth and bottom-line performance of established owner-operated and franchise businesses over a long period of time and has relevant experience in entering new territories through franchise routes.

He successfully opened new markets in a number of European countries and has demonstrated his ability to both manage an established franchise network as well as establishing new networks in new territories. Prior to YUM, Martin had a variety of marketing roles with United Biscuits. Following his appointment, Martin will chair the Company's Remuneration Committee.

Philip Shepherd: Philip is a former partner of PricewaterhouseCoopers, where he originally trained in audit and tax, qualifying as an ACA in 1987. Following a career in corporate finance and transaction advisory services, Philip returned to PwC in 2004 working both in the UK and overseas, leading Strategy and Deals practices, with a particular focus on the hospitality and leisure sectors. Since leaving PwC in 2018, he has held a number of board and advisor roles, again with a focus on hospitality and leisure.

He regularly travels abroad where he advises, and speaks, on the experiential leisure market and start up opportunities. Philip combines his experience in accounting and audit with deal evaluation and execution, and has a deep understanding of the hospitality and leisure markets both in the UK and globally. Following his appointment, Philip will chair the Company's Audit Committee.

Karen Bach: As set out above, Karen, who has served as the Senior Independent Non-Executive Director on the Board for a number of years, will be stepping down upon the appointment of Martin and Philip in order to pursue a number of other board and advisory opportunities. As a result of this announcement, the resolution to re-elect Karen Bach as a director of the Company at the AGM will be withdrawn. Karen has made a valuable contribution to the Board and as Chair of the Audit Committee.