MIL ASX Announcement Changes to the Board of Millennium Services Group Limited

20 October 2017

Millennium Services Group (ASX:MIL) today announces the resignation of Executive Director Stephen Lidbury and the appointment of Sally McCutchan as an Independent Non-Executive Director.

Mr Lidbury co-founded one of Millennium’s businesses in 2003 and has served on the Company’s Board through its private and publicly listed history. Consistent with the Group’s long term succession plan, Mr Lidbury will step down from the Board of Millennium on 25 October 2017 to facilitate Board diversity and generational change. Mr Lidbury will retain his role as Executive Director & Organisational Excellence Leader – Security until the conclusion of his contract in November 2018. Mr Lidbury remains a substantial shareholder in Millennium.

Ms McCutchan will be appointed with effect from 25 October 2017 as an Independent Non-Executive Director to the Millennium Board. Ms McCutchan has extensive experience in finance, funds management and strategy and currently serves as Executive Director and Chief Executive Officer of Impact Investing Australia. She has held executive positions in the financial services and management consulting industries in Australia and Singapore, including APAC Regional Lead of Value Labs at Accenture Strategy based in Singapore and Director at Legg Mason Asset Management in Australia.

Ms McCutchan is also a Non-Executive Director of Indigenous Business Australia Asset Management, and two National Australia Bank securitisation companies.

Chairman of Millennium Peter Anderson thanked Mr Lidbury for his service and welcomed Ms McCutchan to the Board.

“On behalf of the Board, I sincerely thank Stephen for his outstanding contribution to the Millennium Board. Stephen was instrumental in establishing Millennium as one of Australasia’s leading integrated services providers and played a key role in its public listing.

“I am delighted to welcome Sally to the Board of Millennium. Sally brings extensive corporate experience and commercial insight, and has a deep understanding of finance, strategy, stakeholder engagement and governance.

“I am confident that Millennium’s Board has a strong mix of operational, commercial, strategy and governance skills which positions the Company well to deliver on its strategic plan.”

Ms McCutchan will serve as a member of the Board’s audit and remuneration and nomination committees.