Asoka Pieris has been appointed as Chairman of Cargills Bank PLC, with effect from July 3, 2024. He succeeds Richard Ebell who will be retiring on July 2, 2024 in compliance with the Banking Act on Corporate Governance for license commercial banks issued by the Monetary Board of the Central Bank. Ebell has completed nine years in the Cargills board of the bank having been appointed to the board in 2015.

Pieris was first appointed to the Board of Directors of Cargills Bank PLC on January 20, 2023 as a Non - Independent Non - Executive Director and was thereafter appointed as Deputy Chairman on April 1, 2024. He serves on several Board Sub Committees, including Board Nominations and Governance Committee, Board Human Resources and Remuneration Committee, Board Strategic Planning Committee and Board Credit Committee. Pieris has wide and varied experience in the fields of Finance, Marketing and Manufacturing, both in Sri Lanka and overseas.

Currently, he is on the Board of Directors of Cargills (Ceylon) PLC and is the Managing Director of Cargills Retail (Private) Limited. He has been previously employed at Singer Group of companies in various capacities, including as CEO and CFO of Singer Group in Sri Lanka and CFO of Singer Asia and Director of the group's Public Companies in Sri Lanka and Bangladesh. He has previously held Board positions in several companies in the Financial Sector.

He is an Associate member of the Institute of Chartered Accountants of Sri Lanka and a Fellow member of the Chartered Institute of Management Accountants, UK and a Certified Global Management Accountant. The Board Audit Committee, Board Nominations & Governance Committee, Board Human Resources and Remuneration Committee and Board Related Party Transactions Review Committee have been reconstituted w.e.f. 1st July 2024 and the membership of the said Committees would be as follows: Board Audit Committee: Mr. Arjuna Herath ? Chairman (INED), Mr. Yudy Kanagasabai (INED), Mr. Buwaneka Perera (INED), Ms. Marianne Page (NINED).

Change: Ms. Marianne Page has been appointed as a member of the Committee with the retirement of Mr. Richard Ebell (INED), who is a member of the Committee. Board Nominations & Governance Committee: Mr. Buwaneka Perera- Chairman(INED), Ms. Asoka Pieris(NINED), Mr. Yudy Kanagasabai (INED), Mr. Arjuna Herath(INED). Change: Mr. Yudy Kanagasabai has been appointed as a member of the Committee with the retirement of Mr. Richard Ebell(INED), who is a member of the Committee.

Board Human Resources and Remuneration Committee: Ms. Shanti Gnanapragasam ? Chairperson (INED), Mr. Asoka Pieris (NINED), Mr. Ravi Jayawardena (INED), Mr. Aijuna Herath(INED). Change: Mr. Richard Ebell, steps down as a member on his retirement from the Board of Directors.

Board Related Party Transactions Review Committee: Mr. Yudy Kanagasabai ? Chairman (INED), Ms. Shanti Gnanapragasam (INED), Mr. Arjuna Herath (INED). Change: Mr. Aijuna Herath was appointed as a member of the Committee with the retirement of Mr. Richard Ebell, (INED), who is a member of the Committee.

Furthermore, the other non-mandatory Board Sub Committees too have been reconstituted w.e.f. 1st July 2024.