Director Changes

5 August 2022

TRIAN INVESTORS 1 LIMITED(the "Company" or "TI1")

Director Changes

In accordance with Listing Rule 9.6.11, the Company announces the following board changes all with effect from 5 August 2022. Mr Legget has also been appointed to each of the Company's Committees with effect from the same date.

Retirement of Chris Sherwell as a Director

At the requisitioned EGM of the Company held on 5 August 2022, the resolution to remove Chris Sherwell as a director was passed. The Company thanks Mr Sherwell for his contributions and wishes him well for the future.

Appointment of Robert Legget

At the requisitioned EGM of the Company held on 5 August 2022, the resolution to appoint Robert Legget as a director of the Company was passed.

In accordance with Listing Rule 9.6.13, Mr Legget is a director of Progressive Value Management Limited, Downing Strategic Micro-Cap Investment Trust PLC, Sureserve Group plc, Progressive Asset Management Limited and Luffness New Gold Club Limited.