Philippine National Bank advised the Exchange that during its meeting held on December 15, 2023, the PNB Board of Directors noted, approved and confirmed the following: End of Management Contract of Ms. Teresita U. Sebastian, SVP and Head of International Banking & Remittance Group (IBRG) under the Retail Banking Sector, effective December 19, 2023; Appointment of Mr. Jose German M. Licup, FSVP, as Head of IBRG under the Retail Banking Sector in concurrent capacity as Chief of Staff under the Office of the President effective December 20, 2023, vice SVP Teresita U. Sebastian; Appointment of Mr. Jose German M. Licup, FSVP, as Director with Senior Management Function 7 of PNB (Europe) PLC, subject to the final approval of the UK Regulators, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), vice SVP Teresita U. Sebatian; and Mandatory retirement of Mr. Cenon C. Audencial, Jr., EVP and Head of the Institutional Banking Sector, effective January 31, 2024. Further, advised that Mr. Licup has no beneficial ownership over any PNB shares as of date.