Olam Group Limited announced the Mr. Shuji Kobayashi is nominated by Mitsubishi Corporation ("MC") to replace Mr. Kazuo Ito as a Non-Executive Director of the Company. Mr. Kobayashi is currently the Division Chief Operating Officer (COO), Food Resources Division of Mitsubishi Corporation (MC) and has held several senior level roles in MC for the last 31 years. The Nomination and Remuneration Committee ("NRC") has considered the quality of the proposed nomination by MC including the experience and skillset.

The NRC opined that Mr. Kobayashi from the various key roles he has held in MC will contribute to the collective wisdom of the Board. The Board concurred with the recommendation of the NRC. Job Title: Non-Executive Director Member, Audit Committee Member, Capital and Investment Committee Member, Risk Committee.

Working Experience: Mr. Shuji Kobayashi is currently the Division Chief Operating Officer (COO), Food Resources Division of Mitsubishi Corporation. He joined Mitsubishi Corporation in 1992. He has played various managerial roles in Mitsubishi Corporation in Tokyo as well as in its overseas offices, including USA, Brazil, Australia, Indonesia, China and Singapore.

Other DirectorShips Present: MC Agri Alliance Ltd. Professional Qualifications: Advanced Management Program, 2016 Wharton Business School, University of Pennsylvania Philadelphia, USA B.A. Economics, 1991 West Virginia University, Morgantown, USA. The Board wishes to provide an update on the changes to the composition of the Board Committees following the cessation of Mr. Kazuo Ito as Non-Executive Director of the Company with effect from 5 May 2023, and the appointment of Mr. Shuji Kobayashi as Non- Executive Director with effect from 5 May 2023: (i) Mr. Kazuo Ito will relinquish his membership on the Capital & Investment Committee, Audit Committee, and Board Steering Committee, respectively. (ii) Mr. Shuji Kobayashi will be appointed as member of the Audit Committee, the Risk Committee and the Capital & Investment Committee.

(iii) Mr. Hideyuki Hori will relinquish his membership on the Risk Committee and be appointed as member of the Board Steering Committee. Audit Committee: Mr. Yap Chee Keong (Chair)-Independent Non-Executive Director, Mr. Nihal Vijaya Devadas Kaviratne CBE-Independent Non-Executive Director, Ms. Marie Elaine Teo- Independent Non-Executive Director, Dr. Ajai Puri-Independent Non-Executive Director, Mr. Shuji Kobayashi-Non-Executive Director. Risk Committee: Ms. Marie Elaine Teo (Chair)-Independent Non-Executive Director, Mr. Yap Chee Keong-Independent Non-Executive Director, Mr. Shuji Kobayashi-Non-Executive Director.

Board Steering Committee: Mr. Lim Ah Doo (Chair)-Independent Non-Executive Director, Mr. Sunny George Verghese-Executive Director, Group CEO & Co-Founder, Mr. Hideyuki Hori-Non-Executive Director, Mr. Nagi Hamiyeh-Non-Executive Director. Capital & Investment Committee: Mr. Lim Ah Doo (Chair)-Independent Non-Executive Director, Dr. Ajai Puri-Independent Non-Executive Director, Mr. Sunny George Verghese-Executive Director, Group CEO & Co-Founder, Mr. Shuji Kobayashi-Non-Executive Director, Mr. Nagi Hamiyeh-Non-Executive Director. Corporate Responsibility & Sustainability Committee: Mr. Nihal Vijaya Devadas Kaviratne CBE (Chair)-Independent Non-Executive Director, Ms. Marie Elaine Teo-Independent Non-Executive Director, Dr. Ajai Puri-Independent Non-Executive Director, Mr. Hideyuki Hori-Non-Executive Director, Mr. Sunny George Verghese-Executive Director, Group CEO & Co-Founder.

Nomination & Remuneration Committee: Mr. Lim Ah Doo (Chair)-Independent Non-Executive Director, Mr. Yap Chee Keong-Independent Non-Executive Director, Dr. Joerg Wolle-Independent Non-Executive Director, Mr. Hideyuki Hori-Non-Executive Director, Ms. Chan Wai Ching-Co-opt member.