Foley Wines Limited (FWL) – Board Changes

1 April 2023


Foley Wines Limited – Board Changes

Foley Wines Limited [NZX: FWL] advises that William P Foley II has resigned as a Director and
Chairman of the Company. His resignation dated 31 March 2023, received today, is effective
immediately. The Board thanks Bill for his contribution as Chairman over the years.

The Board have appointed Paul Brock as Chairman.
Directors have resolved to appoint Robert P Foley as a Director of FWL with effect from 1 April
2023.

The Board has determined that Robert Foley is not an Independent Director in accordance with
NZX Main Board Listing Rule 2.6.1 due to him being the son of William P Foley II and Carol J
Foley, substantial product holders.

In accordance with the FWL constitution Robert will be required to retire at the next Annual
Shareholders’ Meeting to be held later this year and stand for election by shareholders at that
meeting.

Bill Foley said “it’s time to step down from the Board due to my increased commitments with the
recent purchase of AFC Bournemouth. Rob has been increasingly taking an active role in our
Family investments in New Zealand and therefore it is a natural progression for him to get involved
in Foley Wines Limited. I am still on the Board of Foley Holdings New Zealand Limited so I will
be obviously following the progress of the business”.

Paul Brock has done a great job as Deputy Chairman and I totally support him moving into the role
of Chairman, he said.


Authorised for public release.

For further information please contact:
Mark Turnbull
CEO, Foley Wines Limited
PO Box 67, Renwick, 7243, Marlborough
Tel: +64 21 714 885
Email: mark@foleywines.co.nz