TRANSCORP HOTELS : APPOINTMENT OF A NON-EXECUTIVE DIRECTOR

Abuja Nigeria, March 8, 2024

Appointment of a Non-Executive Director on the Board of Transcorp Hotels Plc

We write to formally notify the investing public and the Nigerian Exchange Limited that the Board of Directors of Transcorp Hotels Plc ("the Company"), on March 5, 2024, approved the appointment of Dr Oluwatoyin Madein as a Non-Executive Director.

Dr Madein represents the interest of one of the Company's significant shareholders, the Ministry of Finance Incorporated, on the Board. Dr Madein is currently the Accountant-General of the Federation and has served variously as Assistant Director, Deputy Director and Director, Finance and Account in the Federal Civil Service.

She is an alumnus of Walden University, USA, where she obtained her PhD in Management (Finance). She also obtained an MBA from Ogun State University.

Dr Madein holds the Fellowship of various professional bodies, including the Association of Chartered and Certified Accountants, UK, Institute of Chartered Accountants of Nigeria, and the Association of National Accountants of Nigeria, among others.

As a Company that places great premium on governance as a performance enabler, we believe that this appointment will further strengthen the Board's oversight functions, and thereby enhance value creation and delivery for all stakeholders.

For: Transcorp Hotels Plc

Stanley Chikwendu

Group Company Secretary