AFRICAN ALLIANCE INSURANCE : NOTIFICATION OF APPOINTMENT OF DR. ALEX NWUBA AS NON-EXECUTIVE DIRECTOR OF AFRICAN ALLIANCE INSURANCE PLC

Lagos, Nigeria

9th June 2022

PRESS RELEASE

APPOINTMENT OF DR. ALEXANDER NWUBA AS NON - EXECUTIVE DIRECTOR OF AFRICAN ALLIANCE INSURANCE PLC

African Alliance Insurance Plc (the Company) wishes to notify Nigerian Exchange Limited (NGX), Shareholders and the investing public of the appointment of Dr. Alexander Nwuba as a Non - Executive Director of the Company. The appointment has been approved by the Company's Primary Regulator, the National Insurance Commission (NAICOM).

Dr. Alex Nwuba joins African Alliance Insurance Plc from a UAE based private equity group where he was in charge of the Group's African investment portfolio and advisory services, advising both corporate and government clients.

He comes from an extensive corporate leadership background across multiple sectors including oil and gas, aviation, telecommunications, financial services, payment systems, and technology, serving on various intergovernmental technical committees and on the global boards of organizations such as The ATM Industry Association Worldwide (ATMIA), Smartcard Society of Nigeria (Founding Board), Nigerian Economic Development Forum (NEDF) and West African Payment Integration Committee WAMZ/WAMU (Technical sub - committee); the mix of talent, experiences and in particular, technology leadership, will bring significant benefit to the company and the industry as it navigates an evolving and more technology driven business landscape.

He is a father of four children and holds a Doctorate degree in Business Administration from the Swiss School of Business and Management, Geneva. He is a Fellow of the Institute of Professional Managers and Administrators of Nigeria (IPMAN) and the Institute for Travel Professionals of Nigeria (ITPN)

Thank you.

ANTHONIA UDEH

PP: TOPE ADEBAYO & CO.

COMPANY SECRETARY