Olam International : food ingredients (“ofi”) announces the appointment of Patrick Coveney and Amanda Sourry to its Board of Directors

London

ofi, a global leader in naturally good food & beverage ingredients, today announces the appointment of two Non-Executive Directors to its Board of Directors ("the Board"). ofi was created in early 2020 following the announcement of the re-organisation within Olam International Limited ("Olam") to unlock and maximise its long-term value. ofi intends to seek a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore in H1 2022.

Further information on the incoming Non-Executive Directors is given below:

Patrick Coveney is CEO of Greencore Group Plc, a position he has held since 2005 and during which time he led Greencore's transformation into an international leader in value-added convenience food. Patrick will step down from his role at Greencore and commence a new role as CEO of SSP Group plc in March 2022. Prior to joining Greencore, Patrick worked for nine years at McKinsey & Company in Europe and North America. Patrick is a Non-Executive Director of Glanbia plc and Chair of Core Media.

Amanda Sourry spent over 30 years of her executive career working for Unilever plc where she gained extensive global marketing and business experience in consumer packaged goods. Amanda was most recently President of Unilever North America, and previously President Unilever Global Foods. She was a Member of the Unilever Leadership Executive from 2015 to 2020. Amanda is currently a Non-Executive Director of The Kroger Co., Trivium Packaging and PVH Corp where she also Chairs the Compensation Committee.

In addition to the above, Niall FitzGerald is Chair of the Board and the Governance and Nominations Committee, Belinda Richards is the Senior Independent Director, Brian May is Chair of the Audit and Risk Committee and Penny Hughes is Chair of the Remuneration and Talent Committee. The Board has two Executive Directors, Chief Executive Officer A. Shekhar, and Chief Financial Officer Rishi Kalra.

Niall FitzGerald, Chair of the Board commented:

"I am delighted to welcome Patrick and Amanda to the Board of ofi, they each have strong strategic and commercial backgrounds gained from their experience in large international companies which will bring significant knowledge and insight to the Board. These appointments continue the building of the ofi Board and further additions will be made before the planned IPO later this year. We now have an effective, skilled and diverse board which meets best practice corporate governance standards and marks an important step in our ongoing preparations for the concurrent listing and demerger of ofi in the first half of this year."

Commenting on the appointments, Chief Executive Officer A Shekhar said:

"It is my pleasure to welcome Patrick and Amanda to ofi and along with my management team I am looking forward to working closely with all our Board directors. Niall has built a strong inaugural Board for ofi which brings together extensive operational and strategic experience which will be invaluable as we embark on the exciting next phase of ofi's evolution to deliver sustained profitable growth and value creation with measurable social and environmental impact."