Press Release

Tereos Commodities Sugar organization

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Over the past years, Tereos Commodities Sugar (TCS) has developed into a stable and established player in both white and raw sugar markets. The team has built a credible entity which will be a sustainable platform for the years to come. It has now reached a size and stage of its growth that allow us to take its development to the next level.

The following organisation changes take effective today:
 Alex Leite is appointed TCS Director and will be based in Geneva. Alex will provide overall
leadership to Tereos Commodities.

Within the new organization, there will be a clear distinction between the raw and white sugar activities based in Geneva:

 Omar Al‐Dahhan is appointed as Raw Sugar Lead. He will focus on execution of export
strategy via the integrated logistical platform VLI and setting up the optimal portfolio around
our origination/elevation volumes.

 Pat Dean is appointed as White Sugar Lead. Pat has chosen to apply his experience
exclusively on commercial matters and will lead the white sugar initiative. He will focus on
optimising our inhouse (Brazil and Europe) flows and determining our African & distribution
strategy.

Our TCS activities in Brazil in charge of raw and white sugar activities will report directly into our offices in Geneva.
Marcelo Escorel has decided to pursue other career interests. The general management of Tereos would like to thank him for his involvement in the creation and development of TC.