DCI Advisors Ltd

(the "Company" or "DCI")

Review of Directors Independence

03 July 2026

Following a review by the Board at a meeting held on 2 July 2026, the Company confirms that Martin Adams, Nikiforos Charagkionis and Oliver Corlette are considered independent in character and judgement. Having taken into account all relevant factors, the Board has determined that there are no relationships or circumstances which are likely to affect, or could appear to affect, their judgement and ability to act independently in the best interests of the Company and its stakeholders.

The Board also reviewed the independence of Sean Hurst and has concluded that he remains independent in character and judgement and continues to be free from any relationship or circumstance which could materially interfere with, or could reasonably be perceived to interfere with, the exercise of his independent judgement.

The Board therefore considers each of Martin Adams, Nikiforos Charagkionis and Oliver Corlette to be an Independent Non-Executive Director, alongside Sean Hurst who the Board considers remains to be independent for the purposes of the QCA Corporate Governance Code.

Reorganisation of Board Committees

The composition of the Committees that serve the Board has also changed as follows:

Audit Committee

Martin Adams, Interim Chairman

Nikiforos Charagkionis, Member

Oliver Corlette, Member

A search has also been initiated to hire a new Independent Non-Executive Director who will become Chairman of the Audit Committee.

Nomination Committee

Sean Hurst, Chairman   

Martin Adams, Member

Nikiforos Charagkionis, Member

Oliver Corlette, Member

Renumeration Committee

Nikiforos Charagkionis, Chairman  

Martin Adams, Member

Sean Hurst, Member

Oliver Corlette, Member

The separate Nomination Committee and Renumeration Committees will replace the Nomination & Corporate Governance Committee.

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