14 April 2022

TRIAN INVESTORS 1 LIMITED
(the "Company")

Director Appointment

In accordance with Listing Rule 9.6.11, the Company announces that Ms. Anita Rival has been appointed to the Board of the Company as an independent non-executive Director with effect from 14 April 2022. Ms. Rival has also been appointed to each of the Company's Committees with effect from the same date.

Biography for Ms. Rival

Ms. Rival is a trustee of Baron Investment Funds Trust and an independent director of Impala Asset Management. From April 2011 through May 2012, she served as an independent advisor to Magnetar Capital, a multi-strategy hedge fund. From 1999 until her retirement in February 2009, Ms. Rival was a Partner and Portfolio Manager at Harris Alternatives, LLC, and its predecessor, Harris Associates, L.P.

Ms. Rival brings expertise in capital markets, portfolio management and business operations. As a Portfolio Manager at Harris Alternatives, LLC, she managed all aspects of a $14 billion fund of hedge funds, including asset selection, risk assessment and allocation across investment strategies. Prior to Harris Alternatives, LLC, Ms. Rival held senior level positions at several large asset management/investment banking institutions, including Banker's Trust, Global Asset Management and Merrill Lynch Capital Markets. Ms. Rival received her B.A. in 1985 from Harvard University.

Chris Sherwell, Chairman of the Company, said:

"I am delighted to welcome Anita to the Board of Trian Investors 1 Limited. She brings a wealth of experience in the asset selection and risk assessment process and her fellow directors look forward to her involvement in the challenges and opportunities which lie ahead."

In accordance with Listing Rule 9.6.13, Ms. Rival is a non-executive Director of Golub Capital BDC, Inc. and Golub Capital BDC 3, Inc which are both admitted to trading on the Nasdaq Stock Market.