Articore Board recommends vote against EGM Resolutions

• Board to recommend shareholders vote against all resolutions proposed by Requisitioning Shareholders
• Resolutions seek removal of entire existing Board and installation of their own four candidates
• Board believes proposals are not in best interests of Group or shareholders

The Board of Articore Group Limited (Articore or the Group) advises that it will recommend shareholders vote against all resolutions proposed by Martin Hosking and members associated with Martin Hosking and Richard Cawsey (the Requisitioning Shareholders) at the forthcoming Extraordinary General Meeting (EGM) which the Requisitioning Shareholders require Articore to call. The resolutions submitted by the Requisitioning Shareholders seek the removal of the entire existing Board and the installation of their own four candidates. The Board has carefully considered the proposals and determined that they are not in the best interests of the Group or its shareholders. The timing, scope and nature of the proposal would result in unnecessary disruption, cost and risk at a time when the Group is demonstrating clear positive momentum under a renewed leadership team. The Board is focused on maintaining a highly effective, independent and appropriately skilled governance structure, aligned with ASX governance standards. Under Vivek Kumar's leadership, the business is stabilising and showing tangible results. The Board believes holding an EGM is not in the best interests of shareholders, given that the Annual General Meeting is already scheduled to take place shortly. The Board has on multiple occasions proactively sought to engage with representatives of the Requisitioning Shareholders in order to seek a reasonable resolution, but the Requisitioning Shareholders have not meaningfully engaged. As a result, the Board expects that Articore will be required under the Corporations Act to call an EGM.