On April 12, 2023, Flowserve Corporation announced that Thomas Okray, Executive Vice President and Chief Financial Officer for Eaton Corporation has been elected by the Company's Board of Directors as a new member of the Board, effective April 12, 2023. Mr. Okray joined Eaton in 2021. Prior to joining Eaton, Mr. Okray was the Senior Vice President and Chief Financial Officer at Grainger from 2018 to 2021 and the Executive Vice President and Chief Financial Officer at Advance Auto Parts from 2016 to 2018.

Mr. Okray fills the newly created directorship resulting from the increase in the number of directors pursuant to resolutions duly adopted by the Board under the Company's Amended and Restated By-Laws (as amended and restated, the “By-Laws”) disclosed in Item 5.03 below. In connection with his election to the Board, Mr. Okray has also been appointed as a member of the Audit Committee of the Board. Mr. Okray is expected to be nominated for reelection by the Company's shareholders at the 2023 annual meeting of shareholders.

There is no agreement or understanding between Mr. Okray and any other person pursuant to which he was selected as a director.