PRESCO Plc - retirement and appointment of director

Benin City, Nigeria 12 January 2026

Presco Plc ("the Company") hereby notifies the Nigerian Exchange Limited ("NGX"), its shareholders and other

stakeholders of a change in the composition of its Board of Directors ("the Board").

The Company is pleased to announce the appointment of Mr. Adewale Arikawe as a Non-Executive Director, to fill a casual vacancy on the Board with effect from 2nd January 2026 until the next Annual General Meeting.

Mr. Arikawe succeeds Mr. Felix Nwabuko, who is retiring from the Board after many years of exceptional leadership and significant contributions across SIAT NV and its subsidiaries. The Board expresses its sincere appreciation to Mr. Nwabuko for his dedication and outstanding service in driving the growth and success of the Company over the years.

In addition to his Board appointment, Mr. Adewale Arikawe has been appointed Group Chief Executive Officer of SIAT, with responsibility for overseeing all SIAT subsidiaries, including Presco Plc, SIAT Nigeria Limited, and Ghana Oil Palm Development Company Limited.

In this capacity, Mr. Arikawe will work alongside the existing leadership teams to strengthen execution, accelerate strategic growth, and foster a high-performance culture across the Group. He is committed to empowering teams, enhancing leadership capability, and creating an enabling environment for continuous improvement and sustainable results.

Mr. Arikawe brings over twenty-six years of leadership experience spanning across general management, commercial strategy, sales, customer development, and brand management. He has held senior leadership roles at Royal FrieslandCampina, overseeing operations across Sub-Saharan Africa, and at FrieslandCampina WAMCO Nigeria. His career also includes senior leadership positions at Nestlé Nigeria Plc, where he managed multi-channel sales operations and contributed to key strategic growth initiatives.

He holds an MBA in Business Administration and Management from the University of Chichester and has completed executive education programmes at London Business School and IMD (International Institute for Management Development), Lausanne, Switzerland, with a focus on leadership, execution excellence, and business impact.

The Board warmly welcomes Mr. Adewale Arikawe and looks forward to his valuable contributions to the Company and the wider SIAT Group. The Board also reiterates its deep appreciation to Mr. Felix Nwabuko for his exemplary service and enduring legacy.

Presco Plc