In a meeting of the Board of Directors of LBC Express Holdings, Inc. held on December 1, 2015, the Board of Directors accepted and confirmed the resignation of Mr. Oscar A. Torres (who had tendered his resignation) effective December 1, 2015, as: (a) Chief Finance Officer; (b) Treasurer; (c) Director; (d) Member of Audit Committee; and (e) Member of Compensation and Remuneration Committee. Following the acceptance of the resignation, Mr. Enrique V. Rey, Jr. (who had been declared qualified by the Nominations Committee) was appointed by the Board of Directors as: (a) acting Treasurer and acting Chief Finance Officer of the company effective as of December 1, 2015 until permanent replacements for the positions of Treasurer and Chief Finance Officer have been duly qualified, nominated and elected; and (b) Member of Audit Committee effective as of December 1, 2015, to serve for the unexpired term of his predecessor; and (e) Member of Compensation and Remuneration Committee effective as of December 1, 2015, to serve for the unexpired term of his predecessor.