• Internalisation of senior management team and other business functions
• Mr. Edouard Peter to step down as Chairman, continue as Non-Executive Director
• Transition services agreement to assist with smooth transition

Duxton Water Limited ('the Company' or 'D2O') is pleased to announce that the Company (led by its independent directors) has agreed with Duxton Capital Australia Pty Ltd ('the Manager' or 'DCA') to give effect to an internalisation of the senior management team responsible for managing the Company as part of a broader project for the Company to internalise all operational functions ('Internalisation'). The Internalisation will be subject to shareholder approval at the Company's upcoming Annual General Meeting on 30 May 2025. The independent directors of the Company consider the Internalisation provides improved overall corporate governance and shareholder alignment, enhanced control over the Company's operations, and the removal of the need to pay ongoing management fees and uncapped performance fees. The Company will seek shareholder approval for the Internalisation at its upcoming Annual General Meeting. The Company also announces that Mr Brendan Rinaldi will step into the role of Chairman, effective from 1 June 2025, succeeding Mr Edouard Peter who has been the Company's Chairman since 2016. Mr Peter will continue his duties as a Director of the Company.