EBOS Leadership Transition

19 February 2025
NZX/ASX Code: EBO

EBOS Leadership Transition
John Cullity to Retire as CEO; Adam Hall Appointed as Successor

EBOS Group Limited (“EBOS” or “the Group”) today announces that John Cullity will retire as Chief
Executive Officer (CEO), effective 30 June 2025. EBOS is also pleased to announce that the Board has
appointed Adam Hall as his successor, effective 1 July 2025.

Adam Hall is a highly accomplished global executive with a strong track record in strategic growth,
mergers and acquisitions, and operational excellence. Most recently, as Group Executive and President
– Asia for Orica Limited, he successfully led significant growth in earnings and scale, while driving
innovation and efficiency. Prior to Orica, he held senior executive roles at CF Industries and Bunge in
the USA, United Kingdom and Asia.

EBOS Chair, Liz Coutts, said: “We are delighted to appoint Adam as our next CEO. Adam brings deep
experience in driving operational efficiency and executing transformative M&A, having led announced
transactions worth over US$20 billion in the past decade. His leadership will be instrumental as EBOS
continues to pursue its growth ambitions. We look forward to working with him to continue to drive
our strong growth and seize new opportunities.”

“John has been a driving force behind EBOS’ success, leading the Group through significant growth.
Under his leadership, EBOS has delivered total shareholder returns of 168%, significantly
outperforming the market.
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“Beyond the results, John has shaped EBOS into the company it is today — expanding our reach,
strengthening our businesses across New Zealand, Australia, and Southeast Asia, and positioning us as
a leader in healthcare and animal care. On behalf of the Board, I sincerely thank John for his
outstanding contribution and wish him the very best in his well-earned retirement.”

Speaking on his appointment, Adam Hall said: “It’s a privilege to join this exceptional team, who have
driven EBOS to become a clear leader across the diverse segments in which it operates. EBOS has
delivered strong and consistent performance, and I look forward to working with the Board and the
Executive Leadership Team to create further growth and innovation in the years ahead.”

Outgoing CEO, John Cullity, said: “My time at EBOS has been an incredible journey. Since joining as CFO
in 2009 , and later as CEO, I’ve had the privilege of working with exceptional people to grow the Group
into what it is today. Over the past decade, we have completed over 20 strategic acquisitions that have
strengthened our core businesses while expanding into new sectors, including medical technology.




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The TSR calculation uses the NZX share price and NZD dividends and is measured from the closing share price on the last trading day prior to
Mr Cullity’s appointment as CEO on 1 April 2018 to the closing share price on 18 February 2025.

“I want to extend my gratitude to our Chair, Liz Coutts, the Board, the Executive Leadership Team, and
our 5,200 employees across New Zealand, Australia, and Southeast Asia. Their dedication to serving
our communities is inspiring, and I am proud of what we have achieved together.”

Incoming CEO Contract
A summary of Adam Hall’s employment contract as incoming CEO is attached. He will be based in
Melbourne, Australia.



For further information please contact:
Investor Relations:
Martin Krauskopf
Executive General Manager, Strategy and Mergers & Acquisitions
+61 3 9918 5555

Media Contacts:
John Bennetts Head of Corporate Affairs and
Communications
EBOS Group
+61 498 000 897
john.bennetts@ebosgroup.com

Patrick Rasmussen
Public Relations Exchange
+61 430 159 690




Authorised for lodgement with NZX and ASX by the Board of Directors of EBOS Group Limited.

About EBOS Group
EBOS Group Limited NZBN 9429031998840 (NZX/ASX Code: EBO) is t he largest and most diversified
Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products.
It is also a leading Australasian animal care brand owner, product marketer and distributor.

INCOMING CEO CONTRACT
In accordance with ASX Listing Rule 3.16.4, set out below is a summary of the material terms of
Mr Adam Hall’s employment agreement as incoming Chief Executive Officer.
Commencement Date 1 July 2025.
Term No fixed term. Ongoing until terminated by either party (see
below).
Salary (or FAR)
AUD$1,350,000 (inclusive of superannuation contributions).
Short term incentive (STI)
Up to AUD$1,822,500 per annum (135% of FAR) which is inclusive
of a stretch component and measured against annual target
objectives.
Long term incentive (LTI) Up to AUD$2,227,500 (165% of FAR) which is inclusive of a stretch
component. The long-term incentive plan is currently a
performance rights plan with three year performance periods.

Vesting of the performance rights will be subject to the satisfaction
of certain conditions relating to EBOS Group Limited and continued
employment. For each performance right that vests Mr Hall will be
entitled to one fully paid ordinary share in EBOS Group Limited
or an equivalent amount in cash or a combination of both (as
determined by the Board).
Sign on incentive Mr Hall will also receive a sign-on incentive valued at
AUD$2,400,000 to compensate him for existing incentive
arrangements foregone with his previous employer.

The sign on will be provided by way of:
(a) a cash payment of AUD$960,000 (less applicable taxation),
payable within seven days of the Commencement Date; and
(b) the issue of three equal tranches of performance rights
valued in total at AUD$1,440,000
, that are subject to service
conditions/ continued employment only, with the tranches
to vest shortly after the first, second and third anniversaries
of the Commencement Date.
Termination by the Company
EBOS may terminate Mr Hall’s employment:
(a) by giving not less than 12 months’ notice; or
(b) immediately ‘for cause’, (e.g. serious, willful or persistent
misconduct).
Termination by Mr Hall Mr Hall may terminate his employment by giving not less
than 12 months’ notice.
Post-employment restraint A 12 month restraint applies.