Incitec Pivot Limited announced the appointment of Mr. Michael Carroll and Mr. John Ho as non-executive directors, effective from 6 March 2023. Mr. Michael Carroll, who was announced as Chairman designate for the proposed standalone Incitec Pivot Fertilisers (IPF) business in June 2022, will formally join the IPL Board as an independent non-executive director. Mr. John Ho is the Founder and Chief Industrialist Investor of Janchor Partners, an industrialist investor based in Hong Kong, with extensive experience as a non-executive director and long-term investor in Australia and across the globe.

Janchor Partners currently has indirectly (through Janchor Partners' investment funds) a 10.3% interest in IPL (including a relevant interest of 8.9% in IPL's voting shares and an economic interest through cash settled equity derivatives in a further 1.4%). Before founding Janchor Partners in 2009, Mr. Ho acquired global experience including with the Boston Consulting Group in Australia, Citadel Investment Group in the US and as Head of Asian Investing at The Children's Investment Fund (Asia). Mr. Ho is currently a non-executive director of e-commerce technology firm Rokt and Nasdaq listed SaaS and data management platform provider AvePoint Inc. He has previously served as a non- executive director on the boards of Bellamy's Australia Limited (including as Chairman) and Vocus Group Limited in Australia, and Link REIT in Hong Kong.

Mr. Ho is a former Deputy Chairman of the Hong Kong Stock Exchange Listing Committee and was a committee member of the Securities and Futures Commission's Public Shareholders Group. Mr. Ho holds a Bachelor of Science in Mathematics and a Bachelor of Commerce in Finance (First Class Honours and University Medal) from the University of New South Wales. Mr. Ho resides in Hong Kong and is an Australian citizen.

Mr. Ho has elected to waive his entitlement to the receipt of non-executive director fees from IPL.