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NZK - Resignation of NZKS Chief Executive

Tuesday 1st November 2022

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New Zealand King Salmon Investments Ltd (NZX & ASX: NZK) announces that Chief Executive Grant Rosewarne has resigned.

New Zealand King Salmon Chair John Ryder paid tribute to Grant for his contribution since joining as CEO in 2009.

“Grant has made a significant contribution to New Zealand King Salmon, including leading the company through its IPO and the creation of the Ora King brand. He has also guided the company through a number of recent challenges, including the COVID-19 pandemic,” Mr Ryder said.

“Furthermore, Grant has led a significant effort to obtain new waterspace to enable future growth and we are expecting to hear an outcome from our Blue Endeavour application at the end of November.

“Following the recent rights issue and the changes to our farming model, Grant leaves New Zealand King Salmon well positioned for the future,” Mr Ryder added.

On behalf of the Board, Mr Ryder thanked Grant for his leadership of the company and wished him all the very best for the future.

Mr Rosewarne’s resignation is effective immediately with his final day being 1 November 2022.

In connection with Mr Rosewarne’s resignation, the company has agreed to grant Mr Rosewarne a Put Option in connection with certain long term incentive plans for the purpose of repaying a loan owed by Mr Rosewarne to the company in relation to the acquisition of certain shares held by a family trust associated by Mr Rosewarne. A disclosure document for the purposes of section 61 of the Companies Act 1993 accompanies this announcement and will be sent to all shareholders shortly.

The Board will now commence an international search for Mr Rosewarne’s replacement. In the interim Graeme Tregidga, General Manager of Sales, will be the acting chief executive.

Authorised by:

Board of Directors of New Zealand King Salmon Investments Ltd

Ends



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