ChallengerX Plc - Changes in Board Composition

9 January 2023

ChallengerX plc

(“ChallengerX” or the “Company”)

Changes in Board Composition

The Company (AQSE: CXS) announces the resignations of Miss Olivia Edwards (Chief Executive Officer), Mr Nicholas Lyth (Chief Financial Officer) and Mr Misha Sher (Non-Executive Director) with immediate effect.

Mr Stuart Adam (CPFA, Chartered MCSI) will be appointed as the Chief Financial Officer of the Company, subject to completion of satisfactory due diligence. The Company will make a further announcement containing the information required by the AQSE Rules once Mr Stuart Adam is formally appointed.  Lucas Caneda, Executive Director, will become Chief Executive Officer.

The company will give further updates on its business and cash position in the quarterly update that is due to be announced by the end of this month.

This announcement contains information which, prior to its disclosure, constituted inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

The directors of ChallengerX accept responsibility for this announcement.

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