As part of the Board renewal process, the Board advised that Mr. Neal Hornsby has been appointed Director of Ironbark Capital Limited (the Company), effective 1 August 2023. The Company also announces that Mr. Ian Hunter will retire from the Board at the conclusion of the 2023 AGM. Mr. Hornsby is Director of DRisk Consulting Pty Limited which provides consulting services in risk management and compliance to various fund managers.

He is co-founder and Executive Director of AVALONfs Pty Limited, which provides licensing services to Financial Advisers, and is Executive Director of PacReef Asset Management Pty Limited. Mr. Hornsby will join the Board as an independent Non-Executive Director and in accordance with the Company's Corporate Governance Charter, the Board will maintain a majority of independent directors. The Board wishes to record their due to Mr. Hunter for his dedication and service.

He has made a significant contribution to the Board, and as Chairman of the Audit Committee. Ian has been a member of the Board of the Company for over 20 years.