Henry Bath Announces Sean Ginnane to Retire as Chief Executive Officer

Wang Haibin to assume the role of CEO

SINGAPORE,June 9,2022 --"Today,we announce that Sean Ginnane will step down from his position as Chief Executive Officer of Henry Bath Group on 7 July and move away from full-time work into retirement. Sean has been with Henry Bath since April 2012,initially serving as the Asia Group General Manager and most recently as Chief Executive Officer. The Board respects Sean's decision and would like to extend its appreciation to Sean for his commitment and contribution to the business over the years.

During his time with Henry Bath,he has overseen the expansion of our footprint in Asia by establishing operations in Port Klang,Kaohsiung,and Taichung and transitioning our Shanghai warehouse into a registered entity. He has helped us diversify our business model and become a key player in the concentrates blending market and,most recently,into agricultural products in Asia.

The Board formed by the shareholders of Henry Bath - CMST and Mercuria - have appointed Mr Wang Haibin to take the role of Henry Bath's Chief Executive Officer from 7 July 2022. With rich experience in the commodity warehousing and logistics industry,Mr. Wang Haibin has been General Manager of CMST Shanghai since 2011 achieving an outstanding track record and alsoDirector of Henry Bath and Chairman of the Executive Committee of the Board of Directors since 2016. He is a proven leader who brings wide experience across the industry and continues to develop supply chain management service offerings with expanded capabilities. This has provided extensive opportunities for the business to connect with international markets. He has also established broad relationships with global industry players in the commodity industry.

Based on its global warehousing footprint and unique link with the Chinese market,Henry Bath will continue to leverage the connectivity of global warehousing and logistics services,designing more integrated cross-market logistics solutions for customers and providing more specialised global network support and supply chain management services."

The Board

Henry Bath & Son Ltd.