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Fulcrum Utility Services - Latest Directorate Changes

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("Fulcrum" or "the Group")

Directorate Changes

Fulcrum Utility Services Limited, a leading independent multi-utility infrastructure and services provider focused on delivering infrastructure for the UK's net-zero future, announces that Phil Holder, Non-Executive Chairman, has notified the Board that he is stepping down from the Board with immediate effect, in accordance with the Company's previously announced succession plan.

Jennifer Babington, who was appointed as Non-Executive Director in May 2020, will become Non-Executive Chairman with immediate effect. Furthermore, Stephen Gutteridge will now remain on the Board as an independent Non-Executive Director until a suitable replacement is found.

Phil Holder commented:

"The business is now well placed with an experienced executive leadership team, strong market drivers, a robust balance sheet, and is thus strongly positioned to capitalise on the UK's journey to net-zero. Now is therefore the right time for the Board to transition to new fresh leadership and I am delighted that Jennifer Babington has accepted the Board's invitation to step up to the role of Non-Executive Chairman. Since joining the business she has impressed me with the energy and insight that she has been able to bring to the Board and I wish her and the business every success."

Jennifer Babington, Non-Executive Chairman, commented:

"I am delighted by the opportunity to lead Fulcrum in an extremely exciting period in its development as we position the business to deliver infrastructure that supports the UK's net-zero future. None of this would be possible without the significant contribution that Phil has made to the business over the past 10 years. I would like to thank him for that and for the personal support he has provided to me in the time that we have worked together."