Elixinol Wellness Limited advised that as part of the Company's long-term strategy, which includes reducing corporate costs, existing Directors Mr. Paul Benhaim and Mr. Oliver Horn have notified the Company of their intention to retire as Non-Executive Directors, effective 6 April 2023. Both Mr. Benhaim and Mr. Horn have brought significant experience and expertise throughout their time with Elixinol Wellness in both management roles and as long-standing members of the Board. As a pioneer in the hemp industry, Mr. Benhaim is co-founder of Elixinol and Hemp Foods Australia.

Mr. Benhaim has been instrumental in creating innovative products for the Company and establishing the Elixinol and Hemp Foods Australia brands. Mr. Benhaim will continue to support Elixinol Wellness as a significant shareholder. Mr. Horn served as the Company's Global Chief Executive Officer during the period 2020 to 2022 and since then as a non-executive director on the Company's Board.

Mr. Horn has brought valuable insights and international health and wellness experience to the company's Board over his tenure.