Appointment of New Chairman

Somero® is pleased to announce the appointment of Robert (Bob) Scheuer as Non-Executive Chairman of the Board, effective 16 April 2025. As announced on 20 December 2024, outgoing Chairman Larry Horsch will remain on the Board on an interim basis to support an orderly transition.

• Scheuer has served on the Somero Board since 2015 as a Non-Executive Director and Chair of the Audit Committee, a role he will continue to hold. Alongside a deep knowledge of the business and its markets, Mr. Scheuer brings extensive strategic, financial and operational experience, having previously held a series of senior executive roles at Dover Corporation, a Fortune 500 industrial manufacturer.

Most recently, from 2011 to 2014, he served as Chief Financial Officer and Vice President of Finance at Dover Engineered Systems, a US$3.8 billion business segment comprising 14 operating companies. In this role, Mr. Scheuer led a global team of over 140 employees, overseeing planning, budgeting, forecasting, M&A, compliance and reporting. Prior to this, between 2007 and 2011, he held CFO roles at two other divisions: Dover Industrial Products and Dover Industries.

Earlier in his career, Mr. Scheuer spent over a decade at Kraft Foods, Inc., where he held a range of financial leadership positions, including as Controller of the US$1.7 billion Grocery Products Division. Mr. Scheuer received his MBA from Northwestern University J.L. Kellogg School of Management and is a Certified Public Accountant.

Larry Horsch, outgoing Chairman of Somero, commented: "Bob is an ideal successor. Over the years, he has developed a deep understanding of Somero and brings a wealth of industry experience that is highly relevant to what the business is working to achieve. His insight and counsel to date have been invaluable and I am confident he will play an instrumental role in driving the next phase of the Company's growth."

Bob Scheuer, incoming Chairman of Somero, commented: "I am honored to step into the role of Chairman at such a pivotal time for Somero. Having been involved with the Company for many years, I have seen first-hand the strength of the team, the quality of the business and the significant opportunities that lie ahead. With a powerful combination of fresh perspectives and healthy continuity across our leadership, we are in a strong position to build on our successes and deliver long-term value for shareholders."