International Graphite Limited advised that current non-executive director Andrew Worland has been appointed as Managing Director of the Company effective 1 January 2023. Having established International Graphite in 2018 and overseen its formative period, Mr. Hearse intends to revert to a non-executive role in the first quarter of 2023 and focus particularly on Collie downstream processing metallurgy, technology development and process design. Andrew's key employment terms are set out below.

In determining Andrew's target remuneration, the board consulted with stakeholders, considered information available for Australian peer company benchmarks and has set long term incentives specifically designed to align with the interests of shareholders.