The Board of Directors of The United Basalt Products Limited hereby informs the shareholders of the Company and the public in general that it has elected Mr. Jean-Claude Béga to act as Chairperson with effect from July 1, 2022, upon recommendation of the Corporate Governance Committee, further to the decision of Mr. Marc Freismuth to resign as Chairperson and director of the Company on June 30, 2022. The Board of the Company would like to express its gratitude to Mr. Marc Freismuth for his valuable contribution to the Board since 2006.