Victrex Regulatory News (VCT)

4 April 2023

Victrex plc - Directorate Change

Chief Commercial Officer Dr Martin Court to retire after 10 years with Victrex

Victrex plc, an innovative world leader in high performance polymer solutions, delivering sustainable products which enable environmental and societal benefit in multiple end-markets, today announces that Dr Martin Court, Chief Commercial Officer and an Executive Director, has notified the Board of his intention to retire from Victrex, after ten years with the Group.

Martin joined Victrex in 2013 as Managing Director, Medical & Emerging Business. He joined the Board in 2015 and was appointed as Chief Commercial Officer in October 2019, to oversee the Medical & Industrial divisions, as well as a number of Group functions, including Marketing, Sales, and Research & Development. Martin will retire from the Board after the September 2023 Board meeting and will remain with the Company until 31 December 2023, in order to support a smooth transition.

Dr Vivienne Cox DBE, Chair of Victrex, said: "The Board is grateful to Martin for his strong contribution to Victrex. He has played a leading role in our Polymer & Parts strategy, including broadening our core business portfolio and driving progress in our mega-programmes. We wish him well in his retirement."

Jakob Sigurdsson, Chief Executive of Victrex, said: "Martin has been an exceptional colleague and all of us at Victrex wish him well. He has been integral to Victrex's transition into a solutions-based company, as well as ensuring that our innovative culture translates across all of our growth programmes. He will retire at a time when a number of our mega-programmes are reaching an inflection point, with major OEM partnerships and line of sight to a material revenue opportunity over the coming years."

The Group plans to double down on the significant growth opportunities across the two divisions, with the creation of two roles covering Martin's existing responsibilities. These roles will sit below Board level and report to Jakob Sigurdsson, Chief Executive. The two roles will be a Managing Director for Medical, taken by Dr John Devine, who is currently the SBU Director Medical and has been with Invibio and the Victrex Group for over 20 years; and a Managing Director, Sustainable Solutions (Industrial). A recruitment process is currently in progress for the latter role, involving both internal and external candidates.

Notes:

Dr Martin Court will be treated as a good leaver in accordance with Victrex's approved Remuneration Policy. Details of the remuneration arrangements relating to his retirement will be disclosed on Victrex's website in accordance with section 430(2B) of the Companies Act 2006 and in the 2023 Annual Report.

Victrex plc:

Andrew Hanson, Director of Investor Relations, Corporate Communications & ESG +44 (0) 1253 898121

About Victrex:

Victrex is an innovative world leader in high performance polymer solutions, focused on the strategic markets of Automotive, Aerospace, Energy & Industrial, Electronics and Medical. Every day, millions of people rely on products or applications which contain our sustainable materials, from smartphones, aeroplanes and cars to energy operations and medical devices. In the medical device industry alone, over 15 million patients have been implanted with devices based on VictrexTM PEEK, including in Spine, Arthroscopy, Trauma, Cardio and Orthopaedic applications. With over 40 years' experience, we are moving beyond the polymer into semi-finished and finished products which shape future performance for our customers and our markets, enable environmental and societal benefit for our customers and drive value for our shareholders. Find out more at www.victrexplc.com