CHEMICAL AND ALLIED PRODUCTS : APPOINTMENT OF A NON-EXECUTIVE DIRECTOR

Directors

Lagos, Nigeria, July 24, 2023

CHEMICAL AND ALLIED PRODUCTS PLC - APPOINTMENT OF NON- EXECUTIVE DIRECTOR

The Board of Chemical and Allied Products PLC ("CAP" or the "Company") wishes to inform the Nigerian Exchange Limited, the Company's shareholders and the investing public of the appointment of Mr. Adebolanle Badejo ("Debola Badejo") as a Non-Executive Director of the Company effective July 21, 2023, subject to the approval of the Company's shareholders at its next Annual General Meeting.

Debola Badejo is an experienced finance and investment professional with a proven-track record in leading, advising, and investing in large companies. He has over 16 years of experience spanning investment banking, private equity, principal investing, and corporate leadership across North America, Europe, and Africa. Debola Badejo has core expertise in identifying lucrative commercial opportunities, conducting thorough financial analysis, and implementing successful investment strategies. He also has extensive experience in advising companies on corporate finance, M&A, capital raising, corporate turnarounds, and effective team building.

Debola Badejo is currently the Group Head, Investments at UAC of Nigeria PLC ("UAC"), where he is responsible for driving value creation and growth across UAC's portfolio companies and seeking new investment opportunities for the group. He also serves as the Executive Vice Chairman at UAC Restaurants Limited ("UACR"), where he is responsible for the financial outcomes of the business. He previously served as the Managing Director of UACR for two (2) years, where he led the turnaround of the business through the roll-out of corporate-owned restaurants across Nigeria, leading to over 65% growth in revenue. Prior to UACR, Debola was an Investment Executive at UAC where he managed the group's interests in the Food and Beverage sectors. Debola Badejo sits on the Boards of Livestock Feeds PLC and MDS Logistics Limited.

Prior to joining UAC in 2019, Debola Badejo was a Principal at Themis Capital Management (Themis), an active investment company focused on concentrating capital, talent, and expertise on a select number of long-term investments in companies that will benefit from Africa's demographic trends. He also previously served as a Non-Executive Director on the Board of UAC Foods Limited.

Debola Badejo previously spent over 10 years as a Corporate Finance Executive in various leading investment banks, including Standard Bank in Lagos, London, and Johannesburg, where he executed M&A, restructuring and capital raising transactions across Sub-Saharan Africa; and Morgan Stanley in New York, where he worked on multi-billion-dollar transactions for large corporates across North America.

Debola Badejo graduated with a B.Sc in Systems Engineering from the University of Virginia in May 2008 and holds MBA degrees from both Columbia Business School and London Business School through the schools' Joint Global Executive MBA program.

For: Chemical and Allied Products PLC

Aramide Nwokediuko

Company Secretary/General Counsel