Basic Energy Corporation announced at the special board meeting held on May 12, 2021 that the company approved resignation of Eduardo V. Manalac as director, member of audit committee, member of risk committee, member of Corporate Governance Committee; Isidoro O. Tan as director, member of Nominating committee, member of Corporate Governance Committee; Ma. Florina M. Chan as director, member of risk committee, member of Compensation and Remuneration committee, member of Corporate Governance Committee and appointment of Kim S. Jacinto- Henares- Independent Director, member of audit committee, member of risk committee, member of Corporate Governance Committee; Maria Rosette Geraldine L. Oquias as director, member of risk committee, member of Compensation and Remuneration committee, member of Corporate Governance Committee and Manuel Z. Gonzalez as director, member of Nominating committee, member of Corporate Governance Committee.