CLEVELAND, Ohio – March 30, 2026 – Austin Powder, a global leader in explosives and blasting solutions, today announced that its Board of Directors has elected Lamar Duhon to serve as the Company’s next President and Chief Executive Officer, effective April 13, 2026. He will succeed John D. Rathbun, who has led the Company as President since 2017 and as President and CEO since 2018. Mr. Rathbun will be elected as Chairman of the Board of Directors, ensuring leadership continuity and strategic alignment as Austin Powder enters its next chapter of growth.

“Today’s announcement follows a comprehensive and deliberate process to identify the right leader to guide Austin through its next phase of growth and long-term value creation,” said Mr. Rathbun. “Lamar is a proven operator and team builder with a clear ability to translate strategy into results. With the support of our experienced leadership team, he is well prepared to build on our momentum and lead Austin into its next chapter.”

Mr. Duhon brings more than 25 years of global experience leading large-scale industrial businesses and complex service organizations. Most recently, he served as President of the Flowserve Pumps Division at Flowserve Corporation (NYSE: FLS), where he oversaw a global portfolio serving customers across critical infrastructure markets. He previously led Flowserve’s Aftermarket Services and Solutions business. Earlier in his career, Mr. Duhon held senior leadership roles at Halliburton (NYSE: HAL) and Baker Hughes (NASDAQ: BKR), managing international operations and driving performance across diverse end markets.

“The selection of Lamar as CEO reflects a thoughtful transition as Austin continues nearly two centuries of industry leadership in blasting and industrial explosives,” said Ben Gelinas, Austin Powder Board Member. “This builds on Austin’s enduring commitment to safety, customer partnership, operational excellence, and a people-first culture. Lamar’s leadership ensures continuity in our values while positioning the company for continued innovation and growth.”

“We are especially pleased that John will assume the role of Chairman of the Board, a natural next chapter in a remarkable 40-year career that began at Austin Powder in 1986. Over decades of service and leadership, culminating in his tenure as CEO, John has strengthened our culture, deepened customer relationships, and reinforced Austin’s legacy as a trusted industry leader,” said Austin Powder Board Member and shareholder W. Jack Davis. “On behalf of the entire Board, we thank John for his extraordinary stewardship and continued commitment to the company’s employees, customers, and long-term success, and look forward to working with him on the Board of Directors.”