Vulcan Two Regulatory News (VUL)

12 January 2026

 Vulcan Two Group plc

(the "Company" or "Vulcan Two")

Board Update

Vulcan Two Group plc, the company aiming to create the UK's leading regulated ePharmacy through buy-and-build, announces that the Company's Chief Financial Officer ("CFO"), Simon Carter, has decided to step down from the Board and from his position as CFO for personal reasons, with immediate effect. Simon will continue to work with the Company, taking a new role in the finance team.

The Company is delighted to announce that Keith Butcher, the former CFO of, inter alia, Boku Inc. and Paysafe, has been appointed in an interim role as CFO for a period of at least 6 months. Keith is a highly experienced CFO with over 20 years as a publicly listed LSE Finance Director. He brings a considerable track record of success in delivering transformational acquisitions and in creating shareholder value in technology-based e-commerce businesses.

It is expected that Keith will join the Board if the Company completes its inaugural acquisition during the period of his employment. Any such appointment would be subject to the completion of customary due diligence by the Company's advisers.

The Board is also delighted to announce the appointment of Dr David Wong as a Non-Executive Director, who brings significant experience in healthcare, capital markets and public company boards. David is the co-founder of Reset Health, an integrated chronic care specialist delivering best in class scalable doctor-led digital solutions for patients. He is also the founder of Medical Consultant and Management Capital, a specialist strategic advisory boutique and investor. David has over 40 years' experience serving on the boards of UK-listed companies, including Slater Foods plc, MDY Healthcare plc, Triple Arc plc and Galleon Holdings plc.

Michael Kraftman, Chief Executive Officer of Vulcan Two, commented: "We are delighted to welcome a CFO of Keith's calibre to Vulcan Two. His considerable experience in transformational acquisitions and delivering shareholder value will be invaluable as we progress our buy-and-build strategy.

"We are also pleased to welcome David to the Board as a Non-Executive Director, who brings real domain expertise and insight into the ePharmacy industry."

Susan Clement Davies, Chair of Vulcan Two, added: "The Company is pleased to welcome Keith and David at an important stage in Vulcan Two's development as a public company. Keith brings deep financial and listed-company experience, and David adds valuable perspective from across healthcare. Together, these appointments further strengthen and support the Company's next phase of development."

Dr. David Chee Wai Wong, aged 72, holds the following directorships/partnerships:

Beach8 Limited

Reset Health Ltd

Reset Health Clinics Limited

Reset Academy of Metabolic Sciences Ltd

Roczen Ltd

Autonomyx Ltd

Emagine Films Ltd

Synapses Neuroscience Limited

David has held no other directorships/partnerships in the past five years. David was a director of Galleon Holdings PLC between March 2006 to October 2013. Galleon Holdings PLC went into administration in August 2013 and was subject to a Company Voluntary Arrangement in September 2013. There was no shortfall to creditors.

Save as set out above, there is no further information to be disclosed in relation to David Wong's appointment to the Board pursuant to AIM Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

The information contained within this Announcement is deemed by Vulcan Two Group plc to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

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