Tower appoints Chief Risk Officer

24 March, 2023 Tower appoints Chief Risk Officer Tower is pleased to announce the appointment of Sharyn Reichstein as Chief Risk Officer. Ms Reichstein has an extensive track-record in supervision of the financial sector, spanning banking, insurance and superannuation. Ms Reichstein joins Tower from Australian Prudential Regulation Authority (APRA), where she is currently General Manager of General Insurance, responsible for the regulation and supervision of the general insurance industry in Australia. She also serves as the Chair of APRA's General Insurance Industry Group, scanning the risk environment and setting strategic responses to industry issues. Chief Executive Blair Turnbull says, Tower is delighted to welcome an executive of Ms Reichstein's calibre. "Sharyn brings a wealth of knowledge to Tower in corporate governance, financial regulation, financial risk, and risk management. We are excited to welcome her on board and look forward to further developing our disciplined approach to risk management across Aotearoa and the Pacific." In the last four years, Tower's focus and investment in large-scale digital transformation has cemented its position as one of New Zealand and the Pacific's most innovative insurers. "Sharyn's expertise will further accelerate our ambition of creating more simple, fair and transparent services to suit the modern needs and lifestyles of our customers," says Mr Turnbull. Ms Reichstein says, "I have long admired Tower as progressive insurer committed to doing what's right and putting the needs of its customers first. I look forward to building positive relationships with Tower's teams, regulators and other stakeholders." Ms Reichstein will officially step into the Chief Risk Officer role in July. ENDS This announcement has been authorised by: Blair Turnbull Chief Executive Officer Tower Limited For media enquiries, please contact in the first instance: Emily Davies Head of Corporate Affairs and Reputation +64 21 815 149 emily.davies@tower.co.nz End CA:00408927 For:TWR Type:GENERAL Time:2023-03-24 12:00:43