February 06, 2025

Consequent to the demise of Deshamanya D. H. S. Jayawardena, the Board of Directors has resolved to appoint
Mr. D. Hasitha S. Jayawardena to the office of Executive Chairman of the Company with immediate effect.

Accordingly, Mr. D. Hasitha S. Jayawardena who currently serves as a Non-Independent Non-Executive Director of the Company will be redesignated as the Executive Chairman of the Company with effect from 6th February 2025.

Mr. Jayawardena holds a Bachelor's Degree in Business Administration (Hons.) from the University of Kent in the United Kingdom.

Mr. Jayawardena has over 12 years of experience in the management of companies under the guidance of his late father Deshamanya D H S Jayawardena, in various diversified fields in the Group. He has been managing and providing strategic direction to the plantation sector and leisure sector of Melstacorp Group. He also functions as the Managing Director of Stassen Group of Companies.

Mr. Jayawardena is a Director of Distilleries Company of Sri Lanka PLC, Lanka Milk Foods (CWE) PLC, Balangoda Plantations PLC and Madulsima Plantations PLC.

The Board of Directors has resolved to appoint Mr. M.R. Mihular, who currently serves as an Independent Non-Executive Director of the Company as the Senior Independent Director of the Company with effect from 6th February 2025.