Kiland Limited to advise of the following change to the board of directors of Nobrac Limited, of which Kiland Limited holds an 87.7% shareholding interest. Hayden Smith and Tim Mannion have agreed to join the board of Nobrac Limited. Haydn Smith is an Executive Director of Triangle Carbon, an Australian focused carbon project sponsor and developer as well as Portfolio Manager of the Natural Resources Credit Strategy at Tribeca Investment Partners.

Previously Haydn had a 20-year career at Macquarie Bank where he was an Executive Director, Global Head of the bank's Mining Finance Group and Executive Committee Member of the Commodities and Financial Markets Group. Haydn holds a Bachelor of Commerce from the University of Sydney, a Graduate Diploma in Applied Finance from the FINSIA and is a member of the Australian Institute of the Company Directors. Tim Mannion is currently the Chief Investment Officer of Sockeye Capital, a multi-family office investment company.

Tim has almost 20 years of experience in finance including working as a portfolio manager at a domestic long short hedge fund and running a regional derivative trading team for an investment bank out of HK. Tim has a Bachelor of Commerce from University of Sydney majoring in Accounting. Paul McKenzie has decided to step down as a director of Nobrac and focus his time on Kiland Limited, where he remains an independent Non-executive Director, and his other business and personal activities.

The Board thanks Paul for his contribution to the Nobrac Board.