Bubs Australia Limited announced that Ms Katrina Rathie has been elected Chair, replacing Mr. Dennis Lin who will also leave his executive role. Ms Rathie's appointment is effective from close of business on 6 April 2023. The Non-Executive Directors, noting the recent deterioration in Bubs financial performance over the half year, considered that the time is right for a change in leadership and to change the governance framework of the company to ensure that it aligns with ASX Corporate Governance Principles and best practice.

The Board will now work with Mr. Lin to transition his executive responsibilities. Ms Rathie was appointed to the Bubs Board as an independent Non-Executive Director in July 2021. She has deep experience in law, governance, the FMCG/infant formula industry and cross- border trade between Australia, China and the USA.

She is a Non-Executive Director of multi- cultural broadcaster SBS and has wide experience on government, private, for purpose and community boards for more than a decade. She had a distinguished 35 year career at global law firm King & Wood Mallesons, including 7 years as Partner in Charge, Sydney. She is a Fellow of the Australian Institute of Company Directors and a Member of Chief Executive Women.

Bubs announced the appointment of Mr. Reg Weine as an independent Non-Executive Director after an extensive search and selection process. Reg Weine is a dynamic and trusted executive with over 25 years' experience in agri-food and FMCG businesses, including as Managing Director of SPC Ardmona (Coca Cola Amatil), CEO of Bulla Dairy Foods and Director of Sales & International at Blackmores Limited. His FMCG experience includes new market development and international expansion, and Reg has a deep understanding of global food, beverage, vitamin, and wellness markets.

He is currently a Non-Executive Director and Chair of Maggie Beer Holdings and is on the Board of Starlight Children's Foundation. He was previously a Board Member of the Australian Food & Grocery Council (AFGC). Reg has a Bachelor of Business from Monash University, is a Graduate of the Australian Institute of Company Directors (GAICD) and is a Certified Practicing Marketer with the Australian Marketing Institute.