• NZME received 8 director nominations, including from Osmium Partners and JTG 4 Limited
• NZME Board proposes alternative board composition to enhance digital transformation and governance
• Barbara Chapman to resign as Chairman if Steve Joyce is appointed to the Board

NZME Limited (NZX and ASX: NZM) announced that it has received eight director nominations following the closing of the nomination period. The nominations include two from Osmium Partners, LLC and four from JTG 4 Limited, a company owned by James (Jim) Grenon. JTG 4 Limited has also proposed to remove all current NZME directors, as well as any directors appointed after 28 April 2025. In response to the nominations and shareholder feedback, the NZME Board has identified an alternative board composition proposal. This proposal includes appointing Steve Joyce, a high-profile former political figure, as a director and potentially as the new Chairman if appointed, replacing Barbara Chapman. The Board has also engaged with Bowen Pan, a technology and marketplace expert, regarding his possible appointment as a director to assist with NZME's digital transformation. The remainder of the Board would comprise Carol Campbell and Guy Horrocks.The NZME Board believes the alternative proposal enhances the Board's capability, is in the best interests of the company, minimises disruption, and enables the continuation of NZME's new strategic focus. However, the Board's ability to implement the proposal will depend on the outcome of the shareholder voting at the upcoming Annual Shareholders' Meeting.