Broo Limited advises that Mr. Kent Grogan and Mr. Mathew Boyes have decided to step down from their roles as directors of Broo, with effect from 8 April 2022. Mr. Grogan will also step down from the role of Chief Executive Officer, but will remain with the Company in his new role of General Manager Broo Beer. Mr. Grogan's transition to his new role will be effective 8 April 2022.

Mr. Grogan and Broo have agreed to amend the terms of Mr. Grogan's existing employment contract in order to reflect his new role. The material terms of the employment agreement (including as to remuneration) remain unchanged. The Company is also pleased to announce the appointments of Mr. Kobe Li and Mr. George Karafotias as directors of Broo, with effect from 8 April 2022.

Mr. Li previously spent 8 years as Senior Listings Adviser at the Australian Securities Exchange. Mr. Li has held numerous executive management positions, and currently serves director of ASX-listed health and wellness company, Wellnex Life Limited. Mr. Li holds degrees in Law and Commerce from the University of Melbourne, and has been admitted to the Supreme Court of Victoria as an Australian legal practitioner.