Notice of Impending Retirement of Chairman

Guaranty Trust Bank plc

Notice Of Impending Retirement Of Mr. Egbert Ulogo Imomoh as Chairman, Board Of Directors Of Guaranty Trust Bank Plc And Appointment Of Chairman

Lagos Nigeria - March 31, 2015: This is to notify you of the impending retirement of the current Chairman of Guaranty Trust Bank plc, Mr. Egbert Ulogo Imomoh at the end of the forthcoming Annual General Meeting of the Bank holding on Tuesday, March 31, 2015.

In line with the well-defined succession plan of the Bank, the Board of Directors of the Bank has appointed Mrs. Osaretin Afusat Demuren as Chairman to take over from Mr. Imomoh upon his retirement.

Mrs. Demuren had a successful career with the Central Bank of Nigeria which spanned over 33 years, during which she served as Director, Trade and Exchange Department and was deployed to serve as the Director, Human Resources Department in 2004; a position which she held until her retirement from the Central Bank of Nigeria in December 2009. She was the first female Director of the Central Bank of Nigeria.

She holds a Masters Degree in Economics and Statistics from the Moscow Institute of Economics and Statistics, Moscow, and a Diploma in Russian Language and Preliminary Studies from the Kiev State University, Kiev.

She is a member of many professional associations including the Society for Human Resource Management of America, Nigerian Statistical Association, Chartered Institute of Personnel Management of Nigeria and the Chartered Institute of Bankers of Nigeria.

Mrs. Demuren joined the Board of Guaranty Trust Bank plc in April, 2013. She served as a member of the Board Risk Management Committee from April 2013 and became the Chairman of the Committee in July, 2014. She was also a member of the Board Remuneration Committee and the Board Information Technology Strategy Committee.

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