Directorate Change

On 30 March 2023 the Company announced that Lord Forsyth would be retiring as Chairman and a Non-Executive director at the Annual General Meeting (AGM) in May 2024. The Company is pleased to announce the appointment of Jim Brown as a Non-Executive Director with effect from 31 March 2024 and that he will succeed Lord Forsyth as Chairman following the conclusion of the AGM, subject to regulatory approval. The Board considers Jim Brown to be independent on appointment.

Jim Brown is a banking professional with many years' experience, gained through a number of executive positions. He is currently CEO, Sainsbury's Bank and a member of the Sainsbury's Group Operating Board and will be retiring from these roles at the end of March 2024. He is also a Non-Executive Director on the Board of Just Group plc.

Before this, Jim was the Chief Executive Officer, Future Williams & Glyn within the RBS Group and prior to this he was CEO, Ulster Bank Group. He held a number of senior appointments within RBS and ABN AMRO in Asia and earlier in his career with Citibank and Chase AMP Bank.

Lord Forsyth said "Following a comprehensive recruitment process conducted by the Nomination Committee and led by the Senior Independent Director, I am delighted that we have found such an experienced candidate to succeed me as Chairman. Jim is a banking professional and brings with him a strong track record in large-scale executive roles."

Jim Brown said "I am honoured to be appointed as Chairman of Secure Trust Bank, subject to regulatory approval. I would like to thank Lord Forsyth for his contribution over the past 10 years, and I look forward to working with the Board, David and Rachel and the management team."

David McCreadie, Chief Executive, said: "I am delighted to welcome Jim to STB and look forward to working with him. I would also like to extend my gratitude to Lord Forsyth for his leadership and for the major contribution he has made to the development of our company over the last 10 years."

On joining the Board Jim Brown will become a member of the Remuneration Committee and a member of the Nomination Committee and will Chair the Nomination Committee following his appointment as Chairman. There are no additional matters that would require disclosure in respect of Jim Brown pursuant to 9.6.13R of the Listing Rules of the UK Financial Conduct Authority.

At the date of appointment Jim Brown does not hold any legal or beneficial direct or indirect interest in the ordinary shares or debt securities of the Company.