CEO Appointment

• Mr. Stephen Pearce appointed as new Chief Executive Officer
• Extensive experience in defence sector and UAV technology
• Appointment completes management strengthening as company transitions to commercial exploitation of propulsion and flight management technology

Orbital Corporation Limited ('Orbital' or 'the Company') has announced the appointment of Mr. Stephen Pearce as its new Chief Executive Officer. This key leadership appointment completes the management strengthening the Company has embarked upon as it transitions from engine development to the commercial exploitation of its propulsion and flight management technology for tier 1 defence UAV customers. Mr. Pearce brings extensive experience in the defence sector, with expertise in unmanned aerial vehicles (UAVs) and deep knowledge of the global defence UAV market. He has a strong track record of successfully commercialising advanced technologies and leading businesses through the critical transition from engineering design to manufacturing. Orbital is entering a new phase of growth as it moves beyond engine development into the commercial deployment of its propulsion and flight management systems for Tier 1 defence UAV customers. The UAV defence market is highly technical and dominated by major global defence contractors. Over the past five years, Orbital has validated its technology through programs with leading Tier 1 partners such as Textron and Boeing Insitu, demonstrating its capability to meet the demanding performance standards of next-generation tactical UAVs. With more than one million operational flight hours across its engine platforms, Orbital's propulsion and flight management systems are now recognised as being at the forefront of industry performance and reliability. The appointment of Mr. Pearce will drive the company's transition from engineering design to fully integrated manufacturing of propulsion systems and related hardware to the growing tactical UAV defence sector.

Total Fixed Remuneration (TFR): $400,000 per annum. Short Term Incentive (STI): Up to 30% of TFR based on annual KPI objectives. Long Term Incentive (LTI): 500,000 options to be issued under the Employee Incentive Plan approved by Shareholders at the 2024 Annual General Meeting.