Appointment of new Chair

24 July 2025

Boku, Inc.

("Boku" or the "Company")

Appointment of new Chair

Boku, Inc. (AIM: BOKU), a global network of localised payment solutions, is pleased to announce that, following an external search, the Board of Directors of the Company have agreed to appoint Richard Pennycook CBE as Non-Executive Chair, with effect from 1 August 2025. Mr Pennycook replaces Dr Richard Hargreaves, who announced on 18 March 2025 his intention to retire from the Board.

Dr Hargreaves is retiring after nine years as a Non-Executive Director of the Company, including the past three years as Chair. Dr Hargreaves will continue in his role until 1 August 2025, working with Mr Pennycook to facilitate an orderly handover.

The Board would like to thank Dr Hargreaves for his significant leadership, dedication and contribution to Boku during his time on the Board, having been a Non-Executive Director at the time of the Company's admission to AIM, serving as Chair of the Remuneration Committee and as a member of the Audit Committee, and more recently as Chair of the Board since June 2022.

Richard Pennycook brings extensive executive and non-executive board level experience in public companies. He is currently Non-Executive Chair of On The Beach Group PLC and previously served as Chairman of Howdens Joinery Group PLC, a FTSE 100 company. Prior to his non-executive career, Mr Pennycook had a 30-year executive career, most recently at The Co-Operative Group, where he served as CEO from 2013 to 2017. Prior to the Co-Op, he held executive board roles at a number of public companies, including Wm Morrison Supermarkets PLC, RAC plc, HP Bulmer Holdings plc, Laura Ashley Holdings plc and J D Wetherspoon PLC.

Commenting on his new role, Richard Pennycook, incoming Chair said:

"I am delighted to be joining the Board of Boku at this exciting time for the business as it accelerates its growth and expansion, both in its market and product offering. I look forward to working closely with my new Board colleagues and the wider executive team to support the strategy and governance of the Company."

Richard Hargreaves, departing as Chair, said:

"I would like to thank my Board colleagues, the senior leadership team and all of Boku's employees for their support during what has been an exciting journey from joining Boku whilst still private, to the AIM admission in 2017 and the Company's continued growth since then. It has been a privilege to work with the whole team and to contribute to the success of the business over my nine years' involvement. I am confident I leave it in capable hands and I look forward to seeing the ongoing development and success of the business."

Stuart Neal, CEO of Boku, said:

"I would like to thank Richard for his exceptional leadership over the past nine years and for his support during my time as CFO and CEO. He has played a key role in guiding the Company through a period of significant growth and transformation. As he steps down, we are delighted to welcome Richard Pennycook as our new Chair. With a wealth of experience, Richard is exceptionally well placed to support the next phase of our journey as we continue to execute our growth strategy."

In accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies, Richard John Pennycook, aged 61, holds or has held in the past five years the following directorships and partnerships:

1PD Innovations Limited entered creditors' voluntary liquidation on 1 December 2022 with a shortfall to creditors of £9.85m.

Mr Pennycook holds no shares in Boku.

Save for the above, there is no further disclosure required with regard to Schedule Two paragraph (g) of the AIM Rules for Companies.

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Notes to Editors

Boku Inc. (AIM: BOKU) is a global network of localised payment solutions. Boku's localised payments network, including digital wallets, direct carrier billing, and A2A (account to account)/real-time payments schemes, reaching over 7 billion customer payment accounts through a single integration.

Customers that trust Boku to simplify sign-up, acquire new paying users and prevent fraud include global leaders such as Amazon, Meta, Google, Microsoft, Netflix, Sony, Spotify and Tencent.

Boku Inc. was incorporated in 2008 and is headquartered in London, UK, with offices in the US, India, Brazil, China, Estonia, France, Germany, Indonesia, Ireland, Japan, Singapore, Spain, 

Taiwan and Vietnam. 

To learn more about Boku Inc., please visit: https://www.boku.com