January 27, 2016/NSE

We are pleased to inform you of changes to our Board and the Board of our subsidiary, First Bank of Nigeria Limited.

FBN Holdings Plc

Alhaji Abdullahi Mohmoud, one of the pioneer Non-Executive Directors, and Mr. Bisi Onasanya, retired from the Board effective December, 2015. Dr. Adesola Adeduntan, the Managing Director of First Bank of Nigeria Limited has been appointed as a Non-Executive Director subject to the approval of the CBN and shareholders at the Annual General Meeting.

First Bank

Mr. Adetokunbo Abiru, erstwhile Executive Director, Corporate Banking and Alhaji Mahey Rafindadi Rasheed, OFR, Independent Non-Executive Director has retired.

To ensure that there is no corporate governance gap by Alhaji Mahey Rasheed retirement; Mrs. Olusola Adetoun Oworu (FCA) has been appointed in his place as an Independent Non- Executive Director. These changes are effective from January, 2015.

Mrs. Oworu’s appointment, which is subject to formal approval of the Central Bank of Nigeria, is in sync with the FBN Group’s strong corporate governance credentials and best practice, ensuring that there is gender balance along with knowledge, judgment and experience at the higher decision making organ of the Bank.