Alterra Limited announced that experienced agricultural executive Mr. Oliver Barnes will join the Board of Alterra as an Executive Director effective 11 January 2019 and will be appointed as Managing Director upon completion of a notification period which will be no later than 2 April 2019. Mr. Andrew McBain will remain Managing Director until Mr. Barnes assumes the MD's role and will then remain an Executive Director and part of the executive team. Mr. Barnes brings extensive experience in greenfield project development and institutional agricultural investment that will enhance the capabilities of the existing executive team as the company advances its agribusiness growth strategy.

From March 2015, Mr. Barnes was Chief Operating Officer of the privatelyowned WA Sandalwood Plantations where his responsibilities included managing relationships with key institutional asset owners; implementing enterprise resource planning systems and driving productivity gains across 13,000 hectares of sandalwood located in the Central Wheatbelt of Western Australia. Mr. Barnes was also part of the team that established Dutjahn Sandalwood Oils, a 50% indigenous owned sandalwood oil distillation business that is now a leading supplier of sandalwood oils to the fine fragrance industry. On immigrating to Australia in 2013, Mr. Barnes became Commercial Manager of ASX and TSX listed Avenira Ltd. (formerly Minemakers Ltd) and was part of the commercial team that oversaw its restructure.

Mr. Barnes is a fifthgeneration agriculturalist whose great grandfather, Sir Arthur Linfield, developed one of Europe's horticultural businesses. The Linfield family sold the business to multinational Rank Hovis McDougall (now Premier Foods Plc) in the 1980's, having held the business for over 100 years. He grew up in the horticultural hub of Kenya (Naivasha) before graduating from Imperial College, University of London in 2002 with a Bachelor of Science in Agricultural Business Management.

Mr. Barnes holds a balanced skillset of commercial, technical and financial expertise accumulated from a wide range of agricultural development initiatives executed in Australia, SubSaharan Africa and Eastern Europe. NonExecutive Director Mr. Neil McBain will resign from the Board effective 11 January 2019.