A NOTE FROM STEVE LIEBESKIND AND NEIL RINALDI
BrainChip deserves a Board that matches its potential
BrainChip has world-class technology and talented people. We believe the results delivered to shareholders have not matched that potential.
That is why we are seeking renewal at Board level and asking fellow shareholders to support that necessary change. We haven’t made this decision lightly. We take this action seriously and we intend to see it through.
We have been engaged with BrainChip’s Board and executives since early 2026. Our lawyers requested a formal meeting with the Chairman on 18 August 2026; the company declined through its own legal representatives. We have been actively engaged in mediation with the board in an attempt to resolve this issue privately. We made a genuine offer, involving compromise on our part. We were advised this offer was taken to the Board; however as at close of business (Australian Eastern Standard Time) 2 October 2026, we have not received a response. Mediation remains on the table, and we remain open to direct dialogue with the Board.
This is not a call to change management, the sales team, the technical staff, or Peter van der Made, who is excluded from this action.
We are preparing formal action to remove three non-executive directors:
and replace them with independent candidates:
More than 40 years in technology. BrainChip CEO from 2016 to 2021. As CEO of Exar Corporation, he led 16 consecutive quarters of growth and moved its listing from Nasdaq to the NYSE. Previously CEO of Nasdaq-listed Xicor, which was acquired by Nasdaq-listed Intersil.
14 years at IBM and more than 30 years in information technology. Independent technologist who has given more than 80 demonstrations using Akida. As at 1 October 2026, the count stands at 82.
Kevin stands in a personal capacity. His candidacy is not connected to, or endorsed by, IBM.
If elected, the candidates have committed to act for all shareholders and stakeholders, starting with a full business review.
Full detail on the candidates and the record behind this request will follow shortly.
Click Count me in to register your support for an Extraordinary General Meeting (EGM). This is an expression of support for an EGM, not a vote and not a commitment. Nothing counts until a signed authority is returned, and we’ll explain that step when we contact you.
Whichever you choose, you will receive the same updates and invitations to our investor relations events, where you can hear directly from the nominees. Your choice here has no bearing on how you may vote at any meeting.
Under the Corporations Act, shareholders holding 5% of BrainChip can call an EGM. At this stage, calling a meeting is being considered, not decided. We are aware of our obligations under the Corporations Act and will act in accordance with them.
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