Ayala Corporation at its regular meeting held on September 27, 2022 approved the following: Mercedita S. Nolledo, 81, Filipino, has served as Director of Ayala Corporation from 2004 until September 2010. She is currently a member of the Board of Trustees of Ayala Foundation Inc., BPI Foundation Inc., Advisory Board of Ayala Land Inc. and the BPI Advisory Council. She also served as member of the Board of Directors of BPI for thirty years from 1991 to 2021.

She likewise served as the Chairman of the BPI's Retirement & Pension Committee and a member of the Corporate Governance Committee. Mrs. Nolledo is a Non-Executive Director of Xurpas Inc. and an Independent Director of D&L Industries Inc., both PSE-listed companies. She serves as Director of Anvaya Cove Beach and Nature Club Inc. and Michigan Holdings Inc. Mrs. Nolledo graduated with the degree of Bachelor of Science in Business Administration major in Accounting (magna cum laude) from the University of the Philippines in 1960 and placed second at the Certified Public Accountant Licensure Board Examination administered in the same year.

In 1965, she obtained her Bachelor of Laws degree (cum laude) also from the University of the Philippines where she also placed second at the Bar Examination held in the same year. The appointment of Mr. Cezar P. Consing as President vice Mr. Fernando Zobel de Ayala. The appointment of Mr. Fernando Zobel de Ayala as the Special Advisor to the Board.

The changes in the composition of the Board Committees which consist of: The election of Mr. Cesar V. Purisima as member of the Finance Committee vice Mr. Fernando Zobel de Ayala; and The election of Mr. Delfin L. Lazaro as member of the Risk Management and Related Party Transactions Committee vice Mr. Cezar P. Consing.