The Board of Vistry Group PLC announces the following Directorate changes. After nine years of service, Ralph Findlay will step down as Chair and as a director of the Company with effect from the close of the Annual General Meeting on 16 May 2024. Ralph was appointed to the Board as a Non-Executive Director in April 2015 and as Non-Executive Chair in May 2022.

The Board announced that Greg Fitzgerald will succeed Ralph and will be appointed as Executive Chair & Chief Executive Officer of the Company with effect from the close of the Annual General Meeting in May. Greg's appointment will ensure continuity and maintain momentum in the execution of the Group's strategy and delivery of the medium-term targets announced in 2023. There will be no change to Greg's existing remuneration arrangements.

The Board has commenced a search for an experienced Senior Independent Director who will provide additional oversight on governance matters and serve as an alternative point of communication for investors and the other Non-Executive Directors. Jeff Ubben is stepping down as a Non-Executive Director of the Company with immediate effect. Jeff was appointed to the Board in March 2023 and remains fully supportive of the Board, management and the strategic decisions made during his time on the Board.

The Board announced the appointment of Usman Nabi, Managing Partner and Chief Investment Officer of Browning West, as a Non-Executive Director with effect from today. Usman will also serve as a member of the Nomination Committee. As a highly experienced board member and investor in both the United States and the United Kingdom, the Board believes that Usman will be a valuable addition to the Vistry Board.

Usman is being appointed as a representative of Browning West, an independent investment partnership based in Los Angeles, California and currently the Company's largest shareholder. Chris Browne, Non-Executive Director, has also informed the Board that following more than nine years of service as a director of the Company, she does not intend to seek re-election and will step down from the Board at the close of this year's Annual General Meeting in May. Chris was appointed as a Non-Executive Director in September 2014.

In addition to the appointment of a new Senior Independent Director, the Board is seeking to recruit up to two additional, high calibre independent Non-Executive Directors of the Company and will update the market on its progress with these appointments in due course.