Itafos Inc. announced the appointment of Stephen Shapiro and Isaiah Toback to its Board of Directors, effective April 14, 2022. Mr. Toback replaces Rory O'Neill as a nominee to the Company's Board of Directors by its principal shareholder, CL Fertilizers Holding LLC (CLF), pursuant to an investor rights agreement between the Company and CLF. Mr. Shapiro is Chief Financial Officer at Cellview Imaging Inc. Prior to joining Cellview, Mr. Shapiro had a 30 year career in investment banking, most recently leading the Canadian Industrials and Consumer Group for Wells Fargo Securities Canada.

Prior to joining Wells Fargo, Mr. Shapiro spent 13 years with BMO Capital Markets, where he started and led the Agriculture and Fertilizer Group. Mr. Toback is a partner at Castlelake and is deputy co-chief investment officer. Mr. Toback is responsible for guiding and executing the firm's global investment strategy across asset classes, overseeing the firm's value and income fund portfolios and supporting the growth and development of its investment teams. He is also a voting member of the firm's Investment Review Committee.

Mr. Toback became a partner of the firm in 2020 and previously served in portfolio management and investment roles. He has particular experience with investments in dislocated industries and corporate special situations, including leading the firm's renewables and commodity shipping strategies.