Carrs Group Regulatory News (CARR)

5 August 2022

CARR'S GROUP PLC ("Carr's" or the "Group")

BOARD SUCCESSION

Carr's (CARR.L), the Agriculture and Engineering Group, provides the following update on Board succession.

The Board is pleased to announce that, after an extensive search process, it has appointed Peter Page to the role of Chief Executive Officer ("CEO"). Peter has served as Chairman of Carr's Group since January 2020, having joined the Board in the previous year. From 2007 until 2018, Peter was CEO of Devro plc, a FTSE listed, global manufacturing business with over 2,000 employees. Prior to this, he was Head of Europe for Aviagen Group, the poultry breeding company, and an Executive Director of Adnams plc. Peter will remain Executive Chairman until a new Non-Executive Chairperson is appointed.

Neil Austin, who has been with Carr's as Chief Financial Officer ("CFO") for 9 years, has informed the Board of his intention to stand down as a Director of the Group at the next AGM, scheduled for January 2023, to take up a new role as CFO of the Westmorland Family, headquartered in Cumbria.

Searches have commenced for a Non-Executive Chairperson, led by Senior Independent Director John Worby, and a successor CFO. Further updates will be provided as appropriate.

As previously announced, Shelagh Hancock and Stuart Lorimer will join the Board as independent Non-Executive Directors on 1 September 2022, bringing significant sector and plc Board experience to Carr's Group.

John Worby, Senior Independent Director, commented:

"I am delighted that Peter has accepted the Board's invitation to take up the role of CEO. During his time with Carr's, he has built strong relationships with the management team and wider stakeholders of the Group. With a background in animal science and agriculture, Peter has a strong track record of building and developing successful businesses in international markets. The Board unanimously concluded that he is best placed to lead the group through its next phase. The appointment will enable the previously announced strategic review to be completed swiftly and ensure Carr's has the right management for its successful implementation."

Peter Page, Executive Chairman, said:

"I am excited to have the opportunity to lead Carr's Group as we finalise and implement our long-term strategy. I have developed a good understanding of the Group, its businesses and people, and I look forward to leading the next phase of growth.

"We are all very grateful to Neil Austin who has given so much to the business over the past 9 years and provided steadfast support to the Board during a challenging period. We are pleased that Neil will remain in post until January 2023, ensuring a smooth handover."

Enquiries:

Carr's Group plc Powerscourt

Peter Page (Executive Chairman) Nick Hayns / Sam Austrums

John Worby (Senior Independent Director) Tel: +44 (0) 20 7250 1446

Tel: +44 (0) 1228 554 600

About Carr's Group plc:

Carr's is an international leader in manufacturing value added products and solutions, with market leading brands and robust market positions in Agriculture and Engineering, supplying customers in over 50 countries around the world. Carr's operates a decentralised business model that empowers operating subsidiaries enabling them to be competitive, agile, and effective in their individual markets whilst setting overall standards and goals.

Its Speciality Agriculture division manufactures and supplies feed blocks, minerals and boluses containing trace metals and minerals for livestock.

Its Agricultural Supplies division manufactures compound animal feed, distributes farm machinery and runs a UK network of rural stores, providing a one-stop shop for the farming community.

Its Engineering division designs and manufactures pressure vessels, manufactures precision components from specialist steel alloys, manufactures robotic manipulators, and provides engineering design, assembly, and installation services for the nuclear, defence and oil & gas industries.