STANDEX INTERNATIONAL CORPDE

The Board regularly reviews the skills, experience and background that it believes are desirable to be represented on the Board. On an annual basis, the Board reviews each director’s skills and assesses whether there are gaps that need to be filled. As a result, recruitment is an ongoing activity. A full skills matrix can be found under “Board Self-Assessment & Skills Matrix” onpage 34.

The Board aims to strike a balance between the experience that comes from long-term service on the Board with the new perspective that new Board members bring, while being sensitive to the benefits of gender and racial diversity. The Board also has a mandatory retirement policy, under which no director may stand for re-election if he or she has reached the age of 75. We believe this balanced approach creates a renewed perspective that is beneficial to shareholders. Please refer to “Identifying and Evaluating Candidates for Board Membership” on**page 35 **for further information.

Due to our mandatory retirement policy, Mr. Hansen, our lead independent director, may not stand for re-election when his term expires on the date of the annual meeting in October 2025. To fill this planned vacancy, the Board has begun recruiting for his successor. As part of this process, the Board has reviewed the existing directors' skills and competencies and believes that the best possible candidate to succeed Mr. Hansen is one who has public company CEO or similar experience as well as competence in dealing with emerging risks such as cyber-security. Over the last six years, the Board has brought on two female directors, one of whom is racially diverse. In continuing the trend of expanding diversity on our Board, the Board will be evaluating a range of candidates, including women and those with racial and/or ethnic diversity, in order to find the best successor to Mr. Hansen.