Shareholders are advised that Simon Fifield has informed the board of directors of Newpark (the "board") of his intention to resign as chief executive officer ("CEO") of the company in order to allow him more time to focus on other opportunities. Simon will step down as CEO with effect from 1 November 2022 and Auri Benatar will be appointed as CEO with effect from the same date. Auri holds a BSc (Honours) degree in Property Studies and has extensive experience in the real estate investment and asset management sectors.

He currently holds the position of executive director at Trademarc Property Fund (Pty) Ltd. and Wainer and Associates Property Consultants (Pty) Ltd. and has previously held the position of Head of Acquisitions and Disposals at Redefine Properties Ltd.