October 16, 2018

Julius Berger Nigeria Plc appoints Dr. Lars Richter as New Managing Director, as the Company Expands Executive Management to Meet Growth Targets

The Board of Directors of Julius Berger Nigeria Plc (Julius Berger) is pleased to announce the following changes to the management structure of the Company, effective October 16, 2018: Succession and change of Julius Berger's Managing Director from Engr. Wolfgang Goetsch to Dr Lars Richter; and expansion of Julius Berger's Executive Management, to include a new Directorate for Corporate Development.

These changes are precipitated by the continuous growth and strategic demands of the Company with respect to its significant portfolio of building, infrastructure and industrial construction projects, and in light of its diversification and development targets.

The new Managing Director, Dr. Lars Richter holds a Doctorate Degree in Civil Engineering. He has vast operational experience , broad technical knowhow and a strong knowledge of Julius Berger, Nigeria-wide, garnered from sixteen years of working with the Company, the last ten of which were spent in Nigeria managing the acquisition, operations and successful completion of major and challenging projects across the Company's operations.

A new Directorate, Corporate Development, is also created and is to be headed by Mr. Tobias Meletschus. He holds a Masters Degree in Commercial Law and also a Degree in Business Law. Mr. Meletschus has an extensive financial and legal background, with robust experience working with international blue chip companies. Since 2012, he has held the position of Head of Business Development within Julius Berger, leading diversification strategies and related business plans, as well as the assessment and successful negotiation of largescale projects.

The Board of Directors extend their utmost appreciation to the outgoing Managing Director, Engr. Wolfgang Goetsch, for his twenty-seven years of faithful service and for his achievements in successfully turning around the business fortunes of Julius Berger in the past two years.