Appointment of Non-Executive Director

6 December 2024

XP Power Limited

("XP Power", "the Group" or "the Company")

Appointment of Non-Executive Director

The Board of XP Power is pleased to announce the appointment of Daniel Shook as Non-Executive Director from 1 January 2025.

Daniel Shook is currently Chief Financial Officer at IMI plc, the FTSE 100 international engineering group. Having joined the IMI board in 2015, he has extensive financial management experience and knowledge of complex manufacturing processes across a range of global industrial sectors. He will be retiring from the IMI Board during 2025. Prior to IMI, Daniel was CFO and a member of the executive Board at Borealis AG, having previously held senior financial and management roles at The BOC Group plc. Daniel was  a non-executive director and Audit Committee Chair of Ultra Electronics Holdings plc from 2019-2022.

On joining the XP Power Board, Daniel will be appointed as a member of the Nomination, Remuneration and Audit Committees and will take over from Polly Williams as chair of the Audit Committee following the conclusion of the Company's Annual General Meeting in April 2025.

Jamie Pike, Chair said:

"I am delighted to welcome Daniel to XP Power. Daniel brings with him significant financial and board level experience and his 30 years' experience in global manufacturing, supply chain and distribution companies across multiple geographies and sectors will be of great value to the XP board. His commitment to the sustainability agenda will be an additional asset as we continue the Group's development."

There are no other disclosures in relation to Daniel Shook's appointment to be made pursuant to Listing Rule 6.4.8.

Enquiries:

XP Power  

Ruth Cartwright, Company Secretary [phone]

Citigate Dewe Rogerson 

Kevin Smith/Lucy Gibbs [phone]

Note to editors

XP Power designs and manufactures power controllers, the essential hardware component in every piece of electrical equipment that converts power from the electricity grid into the right form for equipment to function. Power controllers are critical for optimal delivery in challenging environments but are a small part of the overall customer product cost.

XP Power typically designs power control solutions into the end products of major blue-chip OEMs, with a focus on Semiconductor Manufacturing Equipment (circa 36% of sales in H1 2024), Healthcare (circa 24% sales in H1 2024) and 2 Industrial Technology (circa 40% of sales in H1 2024) sectors. Once designed into a programme, XP Power has a revenue annuity over the life cycle of the customer's product which is typically five to seven years depending on the industry sector. XP Power has invested in research and development and its own manufacturing facilities in China, North America, and Vietnam, to develop a range of tailored products based on its own intellectual property that provide its customers with significantly improved functionality and efficiency.

Headquartered in Singapore and listed on the Main Market of the London Stock Exchange since 2000, XP Power is a constituent of the FTSE All Share Index. XP Power serves a global blue-chip customer base from over 30 locations in Europe, North America, and Asia.

For further information, please visit www.xppowerplc.com.

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