D&L Industries, Inc. announced that the Board resolved to abolish the position of Chief Operations Officer (COO) simultaneous with the retirement of Mr. Joselito P. Rivera, which coincided with the end of his term as COO. At the same meeting the Board constituted the following Committees for the term 2023-2024, as follows: Executive Committee: Chairperson: Mr. Yin Yong L. Lao, Members: Mr. John L. Lao, Mr. Alvin Lao, Mr. Dean A. Lao, Jr., Mr. Vincent D. Lao, Mr. Lester A. Lao and Mr. Franco Diego Q. Lao. Audit Committee: Chairperson: Ms. Corazon S. de la Paz-Bernardo.

Members: Atty. Mercedita S. Nolledo, Ms. Lydia Balatbat R. Echauz and Mr. Karl Kendrick T. Chua. Corporate Governance Committee: Chairperson: Atty.

Mercedita S. Nolledo. Members: Dr. Lydia R. Balatbat-Echauz, Ms. Corazon S. de la Paz-Bernardo and Mr. Yin Yong L. Lao. Risk Oversight and Sustainability Committee: Chairperson: Dr. Lydia R. Balatbat-Echauz.

Members: Ms. Corazon S. de la Paz-Bernardo, Mr. Karl Kendrick T. Chua, Mr. Alvin D. Lao and Mr. John L. Lao. The Board also appointed the following to the Advisory Board for the term 2023-2024: Mr. Dean L. Lao, Mr. Leon L. Lao and Mr. Alex L. Lao. Finally, the Independent Directors designated Atty.

Mercedita S. Nolledo as Lead Independent Director of the Corporation.