Directorate Change

Debenhams Group (DEBS.L), an online platform for fashion, home and beauty, announces the following board changes, with immediate effect.

Iain McDonald has been reappointed to the Board as Non-Executive Chair of the Company. Iain served on the Board between June 2017 and February 2026, and the Board is pleased that he has agreed to provide his expertise and leadership qualities to the Group as it progresses in the next phase of its strategy.

Tim Morris will step down from the Board and his role as Chair with immediate effect. Tim joined the Board in May 2021 and the Board would like to thank him for his significant contribution and commitment to the Group during his tenure.

The Company is also pleased to announce the appointment of Michael Stewart and Stephen Rothwell as Independent Non-Executive Directors with immediate effect.

The changes are intended to align the composition of the Board with the Group's priorities for the next phase of its strategy. With the substantive elements of the operational turnaround now complete, the Board's focus moves to rebuilding equity value in the Group. Iain and Michael add significant further experience of the investment markets alongside that already provided by John Goold, Senior Independent Director, and their combined experience and networks are expected to support the Group in broadening and extending its shareholder base.

Stephen brings a wealth of technology experience, having founded and led an AIM-quoted technology business, and will provide valuable support to the Board as the Group continues to build a world-class, technology and AI-enabled platform supporting its capital-light business model. He is the founder of Eagle Eye Solutions Group PLC, the AIM-quoted digital marketing technology business, where he served as a director from February 2014 until April 2025. He is currently a director of Eagle Eye Technology Limited and Eagle Eye Holdings Limited, and brings extensive experience of technology, digital loyalty and scaling consumer-facing platforms.

Michael Stewart is a member of Chrysalis Investment Partners LLP, which he joined in March 2024, and was previously a member of 8C Capital LLP. He brings 13 years of experience in investment management and public markets as an investment professional. Michael has worked alongside founders, management teams and boards on growth strategy, M&A, capital raising and long-term value creation. During his early career, Michael worked as an associate at 8C Capital, an independent private equity firm investing in mid and upper mid-market European businesses. He then moved to be an equity analyst at Merian Global Investors, later Jupiter Asset Management. Most recently Michael was lead analyst for the investment adviser to Chrysalis Investments Limited, where he worked on investments in Starling Bank, Klarna, Featurespace, Smart Pension and Embark Group.

Dan Finley, Chief Executive Officer of Debenhams Group, commented:

"I would like to thank Tim for the significant and critical contribution that he has made to our turnaround. The business has been significantly strengthened during his tenure as Chair. We wish him all the very best in his future endeavours.

"We are pleased to strengthen the Board today with the appointments of Iain, Stephen and Michael. They bring significant experience in capital markets and advanced technology, which will benefit us as we continue to deliver our multi-year turnaround."

Tim Morris, outgoing Non-Executive Chair of Debenhams Group, commented:

"It has been a privilege to chair this business through such a pivotal period. My thanks go to Dan and the executive team, to my Board colleagues, and above all to every one of our employees, whose commitment and hard work have driven the turnaround. I leave the Group in good hands and wish Iain and the team every success in the next phase."

Iain McDonald, Non-Executive Chair of Debenhams Group, commented:

"It was a very difficult decision to step away from the Board of Debenhams earlier this year, and it is a great honour to be asked to return in the role of Chair. I am a material investor both personally and via the funds managed by my business, Belerion Capital Group, and this is a measure of the degree to which I believe in the potential of the business. The progress made over the past 6-12 months is significant and there is a real feeling of momentum in the business. I look forward to supporting the management team in their efforts to restore value and to engage constructively with all shareholders."

Iain McDonald (aged 55) holds or has held the following directorships or partnerships in the past five years:

Selkirk Group PLC

Secret Sales Group Limited

Belerion Holdings Limited

Belerion Capital Group Ltd

Team Internet Group PLC

Belerion Capital Limited

Iain is interested in a total of 17,846,666 shares in boohoo, 1,180,000 of which are owned directly and 16,666,666 of which are held by Belerion Capital’s New Wave Fund in which Iain has an interest.

Michael Antony Stewart (aged 34) holds or has held the following directorships or partnerships in the past five years:

Michael holds no shares in boohoo.

Stephen John Rothwell (aged 51) holds or has held the following directorships or partnerships in the past five years:

Eagle Eye Solutions Canada Limited

Eagle Eye Solutions Australasia Pty Limited

Eagle Eye Solutions Inc (US)

Eagle Eye Solutions New Zealand Limited

Eagle Eye Software Limited

EET Limited

Steve Rothwell Consulting Ltd

Stephen is beneficially interested in 300,354 shares in boohoo.