SP New Energy Corporation Board of Directors of SPNEC, at its meeting on January 31, 2023, approved the promotion of Hazel Iris P. Lafuente (Ms. Lafuente) to Chief Operating Officer, and the appointment of Aresty M. Lapitan (Mr. Lapitan) as Treasurer and the appointment of Martin Charles Crotty (Mr. Crotty) as Director to replace Atty. Jesusa Loreto A resigns as Director, Treasurer & Chief Financial Officer, Effective 31 January 2023. Arellano.

Ms. Lafuente leads the project development, execution and operations teams of Solar Philippines. With a background in both the private and public sectors, Ms. Lafuente brings over 15 years of experience in project management, land acquisition, permitting, and regulatory compliance. Prior to joining Solar Philippines, she worked at the Philippine Senate as a legislative staff.

Ms. Lafuente graduated from the University of the Philippines with a degree in Social Sciences (Area Studies) cum laude. She is also a Certified Project Manager and a lifetime member of the Pi Gamma Mu International Honor Society in Social Sciences. Mr. Lapitan leads the accounting and financial management and operations teams of Solar Philippines.

As a Certified Public Accountant and a Certified Forensic Accountant, Mr. Lapitan brings over 16 years of experience in streamlining business operations for growth and profitability. He holds a Bachelor's Degree in Accountancy and graduated cum laude from the Polytechnic University of the Philippines and a Master of Business Administration from the Ateneo Graduate School of Business. He is a member of the Philippine Institute of Certified Public Accountants.

Mr. Crotty is an American with family ties in the Philippines, who served as President of AES Asia, where he managed power plants in Vietnam, India, Sri Lanka, and the Philippines, including the Masinloc coal plant, which was acquired by San Miguel with an enterprise value of $2.4 billion in 2018. Previously, Mr. Crotty was CEO of Upwind Solutions, a wind asset management company backed by Silicon Valley investor Kleiner Perkins Caulfield & Byers. Since then, he has managed the operations of over 10 GW of solar and wind plants in North America at EDF Renewables.