Board Change and Update

18 March 2026

Northern Bear plc

("Northern Bear" or the "Company")

Board Change and Update

Northern Bear plc (AIM: NBTR) (the "Company") announces that, following discussions with the Board,  Martin Boden has stepped down as a Non-Executive Director and as Chair of the Audit Committee with immediate effect in order to pursue other non-executive opportunities, including audit committee chair roles.

Harry Samuel, an existing Non-Executive Director of the Company, has been appointed Chair of the Audit Committee with immediate effect.

The Board remains appropriately constituted and committed to maintaining high standards of corporate governance. Aligned with this, the Company has already engaged an experienced fractional Finance Director to work closely with the Board and the Audit Committee and to support the preparation of the Group's year-end results. A process has also commenced to recruit a permanent Finance Director. Given the timing of the year-end reporting cycle, this process is expected to extend beyond the current financial year end and the market will be updated once an appointment has been finalised.

Simon Carr, Chair of Northern Bear plc, commented:

"Martin has made a significant contribution to the Board and to the development of the Company during his time with us. On behalf of the Board, I thank him for his support and commitment and wish him every success in the future."

"We are pleased that Harry has agreed to assume the role of Chair of the Audit Committee and look forward to continuing to benefit from his experience and counsel."

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