Duratec Limited announces the resignation of Mr. Phil Harcourt as Managing Director of the Company, effective 1 December 2023. Although Mr. Harcourt will be retiring from his executive role in the Company, Mr. Harcourt will remain very much involved in Duratec's continued success into the future, as a Non-Executive Director on both the Duratec Limited and DDR Australia boards. The Company announced that it has appointed Mr. Chris Oates (Executive Director) as Managing Director effective 1 December 2023.

Mr. Oates was a fellow founder of Duratec Limited in 2010 alongside Mr. Harcourt and Mr. Diprose and has been a Director and senior executive in the company since inception. Mr. Oates has a deep understanding of the Company's operations and has been fundamental in the Company's growth and performance, making him the ideal candidate for leading the Company into the future.