RAS Technology Holdings Limited announced the appointment of Tim Olive as the Company's Chief Financial officer (CFO), effective October 1, 2022. Mr. Olive is a highly experienced Executive and joins the Company from HIA Insurance Services (HIAIS) a majority-owned subsidiary of Aon, the large multinational professional services firm. HIAIS is the leading insurance broker to the residential construction industry in Australia with revenue in 2021 estimated at $27 million.

Mr. Olive joined HIAIS in 2017 as CEO following a 14-year career at the Housing Industry Association (HIA) where he was a key member of the Senior Executive team, including as CFO, and a driving force behind the improvement of HIA's digital innovation strategy. As CEO of HIAIS, Mr. Olive led a team of 80 employees which saw HIAIS become the highest performing business segment in Aon Australia in 2020 and 2021. Of particular note, Mr. Olive also has relevant racing industry experience.

In 2010 he was first elected as Chairman of the Canberra Racing Club, becoming the youngest Chairman in the Club's history. He has variously served as Committee Member and Treasurer and was re- elected Chairman in 2020. Additionally, Mr. Olive is a Fellow of CPA Australia (FCPA) which recognises both his financial and business acumen.

Mr. Olive replaces Andrew Burns who will finish with the Company on 15 October 2022 when his contract term concludes and after a hand-over period with Mr. Olive. Mr. Burns has been a consulting CFO since May 2021 and provided RAS with invaluable support, particularly though the Company's IPO in November 2021.