Team Inc. appoints two Stellex-nominated directors; Davis to resign Dec 31; Caliel becomes non-executive Chairman

TEAM INC

K. Niclas Ytterdahl and Michael Stewart appointed to the Board effective Oct 24, 2025, increasing board size from 7 to 9.
Jeffery G. Davis will resign as director and from all committees effective Dec 31, 2025; no dispute with the Company.
Michael J. Caliel returns to non-executive Chairman role immediately, relinquishing Executive Chairman title.
Ytterdahl serves on Audit and Governance Committees; Stewart on Compensation; Stewart receives no director compensation.
Both directors are nominees of Stellex Capital Management per the September 2025 Shareholders Agreement.

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