Corre Energy, announced that at its forthcoming Annual General Meeting (AGM) Frank Allen, Chair of the Board of Directors, intends to stand down from the Board upon expiry of his three-year tenure as Chair owing to professional commitments outside of Corre Energy. It coincides with a planned transition of the Board composition to facilitate the Company's growth. Mr. Allen, who has been Chair prior to and since the Company's IPO in 2021, has overseen Corre Energy's initial phase of growth, including the delivery of key commercial milestones and fund-raising activities.

Most recently, this includes the launch of the process led by Rothschild & Co to manage and secure investor interest in the Company. On the basis that all resolutions are passed at the AGM, Non-Executive Board member, Rune Eng, will fulfil the role of Interim Chair while the responsibilities of the Audit and Risk Committee will be consolidated into the main Board of Directors. This interim arrangement will exist until future changes are announced.

As part of the planned Board transition, a process has already begun to appoint Non-Executive Directors to the Board and to organise Board committees to meet the future growth and needs of the Company. This is designed to align with the planned investment process which is progressing well, as well as commercial scale-up opportunities currently being actively pursued by the Company.