At the meeting of the Board of Directors of Nickel Asia Corporation held on June 28, 2022, the Board accepted the resignations of Mr. Masahiro Kamiya and Mr. Luis Juan L. Virata as Directors of the company effective June 29, 2022. The remaining members of the Board unanimously elected Mr. Shiro Imai vice Mr. Kamiya, and Mr. Leonides Juan Mariano C. Virata vice Mr. Luis Juan Virata, as Directors, to serve the unexpired term of their predecessors. The Board likewise accepted the resignation of Independent Director Mr. Jaime J. Bautista effective June 29, 2022.

Mr. Imai is the Executive Vice President of Sumitomo Metal Mining Philippine Holdings Inc., Coral Bay Nickel Corporation, and Taganito HPAL Nickel Corporation. He has been with for Sumitomo Metal Mining Co. Ltd. (SMM) since 1995.

Prior to his current positions, he was the Manager of the Copper and Precious Raw Materials Department from June 2016 until September 2019, and served as Chief Representative of SMM's London Office from July 2014 to May 2016. He was also part of Nickel Sales and Raw Materials Department of the Non-Ferrous Metals Division from November 2009, the Sales and Marketing Section of the Advanced Materials Division from February 2001 until October 2009, and the Sales and Marketing Section of the Electronics Division from April 1995 to January 2001. Mr. Imai obtained his Bachelor's degree of Faculty of Economics from Tohoku University in Miyagi, Japan.

Mr. Leonides Juan Mariano C. Virata is the Chief Executive Officer of Cavitex Holdings Inc. and the Managing Director of MTC Investment Properties. Prior thereto, he was with the Broking Research team of Platinum Securities from 2006 to 2010. He is a member of Makati Business Club.

He received his Bachelor of Arts, Major in Philosophy of Religions from University of Pennsylvania. The Board appointed Mr. Imai as Chairman of the Related Party Transactions Committee, Member of the Audit Committee and Member of the Nominations Committee, and Mr. Virata as Member of the Corporate Governance Committee, effective June 30, 2022. Appointment of Assistant Vice President-Risk Management Sector The Board also appointed Mr. Walter B. Panganiban as Assistant Vice President-Risk Management Sector effective July 1, 2022.

Mr. Panganiban is a communications and public relations professional with over 20 years of experience in strategic internal and external communications. Prior to joining NAC, he was the Securities Operations Manager of Amazon (through Pinkerton). He was also the co-founder and Chief Communications Officer of start-up social enterprise, Resilient.PH.

Mr. Panganiban also taught communication subjects at the collegiate level. He graduated Magna Cum Laude from St. Paul Seminary in 1998 with a double degree in AB Mass Communication and Philosophy.

He also completed his Executive Master in Disaster Risk and Crisis Management from the Asian Institute of Management.