The Board of Directors of the Bank of the Philippine Islands at its meeting held on 19 May 2021 approved resignation of Ms. Mercedita S. Nolledo from the Board of BPI; Election of Ms. Janet Guat Har Ang as independent Director subject to the confirmation/approval of the Monetary Board of the Bangko Sentral ng Pilipinas; and appointment of Mr. Aurelio R. Montinola III as Chairman of the Retirement and Pension Committee. The Board also noted the appointment of Ms. Mercedita S. Nolledo to the Advisory Council, and the reclassification of Mr. Octavio V. Espiritu and Mr. Antonio Jose U. Periquet from Independent Directors to Non-Executive Directors. Ms. Janet Guat Har Ang is currently the Chairperson of SISTIC.com and non-Executive Director at Singapore Press Holdings Limited. Effective date for the changes is May 19, 2021.