Drax Regulatory News (DRX)

24 August 2023

Drax Group plc

("Drax", "the Group", "Drax Group", "the Company"; Symbol: DRX)

Appointment of Chair Designate

Drax is pleased to announce the appointment of Andrea Bertone as a non-executive director and Chair Designate of the Company, effective from 24 August 2023. The appointment is in anticipation of the conclusion of Philip Cox's successful nine-year tenure as a non-executive director during which he made a significant contribution to the Company's growth and success. Mr Cox will step down as Chair and a non-executive director on 31 December 2023, and the Board expresses their sincere gratitude for Mr Cox's valuable service. Ms Bertone will assume the position of Chair effective 1 January 2024. 

The appointment of Ms Bertone in the role of Chair Designate allows for a managed handover from Mr Cox prior to Ms Bertone assuming the position of Chair. 

Ms Bertone is the former President of Duke Energy Corporation's ("Duke") international division ("DEI"). Ms Bertone spent 15 years at Duke, including seven years as President of DEI with executive responsibility for a portfolio of c.4,400MW of hydro and thermal assets. Prior to serving as President, Ms Bertone held senior legal positions between 2001 and 2009 at DEI, including as associate General Counsel from 2003 to 2009, as part of which she oversaw legal and regulatory matters for the Group's business in Latin America. Ms Bertone left Duke in 2016. Prior to Duke, Ms Bertone's roles included Latin America counsel with Baker McKenzie.

Ms Bertone has current experience in serving as a non-executive director of several companies each of which is publicly listed and operating in diverse sectors, spanning packaging manufacturing, energy and waste management.

Ms Bertone who is resident in Houston, Texas, earned a Bachelor of Law from the University of Sao Paulo Law School in Brazil and a Master of Law in International and Comparative Law from Chicago-Kent College of Law at the Illinois Institute of Technology. Ms Bertone is a member of the Brazilian Bar Association.

Commenting on the appointment of Ms Bertone, Will Gardiner, Drax CEO said, "I am delighted to welcome Andrea in her appointment as Chair Designate of Drax as we accelerate our strategy, including to become a global leader in carbon removals. Andrea's extensive executive experience in the international energy sector will provide Drax with a deep understanding of global markets and their underpinning regulation, as well as invaluable experience in leading transformative change in multinational businesses. In addition, the breadth of Andrea's non-executive roles in diverse and global businesses will further enhance the experience and capabilities of our Board."

Ms Bertone said, "It is an honour to become Chair Designate of Drax and join the Board at this exciting time in the Company's journey. As the global transition to net zero intensifies, opportunities are growing in carbon removals, renewable power and biomass. I look forward to working with Will, fellow Board members and colleagues across Drax, which is ideally placed to realise these opportunities both in the UK and internationally."

Enquiries:

Drax Investor Relations: Mark Strafford

+44 (0) 7730 763 949

Media:

Drax External Communications: Chris Mostyn

+44 (0) 7548 838 896

Website: www.Drax.com

Listing Rules disclosures

The following disclosures are made in accordance with Listing Rule 9.6.13

Ms Bertone currently holds the following external roles:

· Non-executive director of Waste Connections, Inc., which is listed on the NYSE and Toronto Stock Exchange

· Non-executive director of Amcor plc, which is listed on the NYSE and Australian Securities Exchange

· Non-executive director of Peabody Energy Corporation which is listed on the NYSE

Ms Bertone was also formerly a non-executive director at:

· Yamana Gold Inc. between July 2017 and May 2020

· DMC Global Inc. between February 2019 and May 2023.

Additional notes:

Mr Cox will be standing down as a non-executive director and Chair on completion of the permitted nine-year tenure as a non-executive director in accordance with the UK Corporate Governance Code. Additional details on the process associated with the search for a new Chair were provided in Drax's Annual Report and Accounts 2022 (see page 112).

The selection process for the new Chair was carried out by the Nomination Committee, with the support of external search agent Heidrick & Struggles. The criteria for the search reflected the growing global nature of Drax, the qualities essential for the role of Chair, as well as compliance with the Listing Rules.

ENDS