CEO and Governance Update

CEO and Governance Update 17 November 2021

Solution Dynamics (“SDL” or “Company”) advises that after a lengthy battle with ill health the
condition of the CEO, Mr Nelson Siva, has recently deteriorated to the point where he feels he
is unable to continue with his duties and has regrettably taken the decision to resign with
immediate effect. Nelson has been instrumental in the turnaround of the Company’s fortunes
over the last few years, driving the execution of its successful international growth strategy
and strong increases in revenue and profitability. Having had regard for the CEO’s health in
the prior period, the Board with Nelson’s full support and involvement, commenced and has
now concluded a succession planning process. It is the intention of Nelson to remain on the
Board to assist with the transition.
Effective today, 17 November 2021, SDL is appointing the current head of the Company’s
international business, Mr Patrick Brand, to the role of CEO with immediate effect. Pat is
based in the US and joined SDL in mid-2019. His prior role was with Pitney Bowes where he
was President of Document Messaging Technologies (now BlueCrest). He was also President
of Pitney Bowes’ Small and Medium Business (SMB) - North America division. He retired from
Pitney Bowes in 2018 to become founder of an independent business consulting firm. Pat
holds a BS in Finance and MBA from the University of Connecticut; he is a CPA and is a named
inventor on five patents. He was Chairman of the Electronic Document Scholarship
Foundation (EDSF), an industry group, and a board member of the World Affairs Forum.
Pat’s remit has been to accelerate growth internationally for the Company, through both direct
sales and partner channels, and in every regard has been a key driver of the performance and
growth demonstrated by SDL in the North American and International markets.
COVID-19’s continued global impact on international travel means that Pat, while having
significant experience in leading international teams remotely, is unlikely to be able to visit New
Zealand in person until such time as the current travel restrictions ease. In acknowledging this,
to provide full support where needed to the local operations and assist with transition, the
Chair, Mr John McMahon, will temporarily act in an Executive Director capacity for several
days per week, working out of the Auckland office. As noted earlier it is Nelson’s clear intent
to contribute towards the transition process to the extent his health allows.
The final details of the incoming CEO’s remuneration are still being worked on and the Board,
having agreed on a suitable package with Mr Brand, will update the market in due course.

For further information please contact:
John McMahon
Chair
+64-(0)21-0914 0236