Rizal Commercial Banking Corporation announced the following significant items approved by the Board of Directors at the regular meeting held on July 31, 2023. Appointment of New Board Directors: Appointment/Election of Hiroki Nakatsuka as Director, and Member of the Executive Committee, and of Katsufumi Uchida as Director, and Member of the Risk Oversight Committee, to take effect at the close of business on July 31, 2023, and their interlocking positions (subject to BSP/other regulatory approvals, as may be required); Mr. Hiroki Nakatsuka and Mr. Katsufumi Uchida are filling the vacancies arising from the resignations of Arnold Kai Yuen Kan and Atty. Lilia B. de Lima as Directors, to take effect at the close of business on July 31, 2023.

Mr. Arnold Kai Yuen Kan's resignation is due to personnel arrangement of Cathay Group while Atty. Lilia B. De Lima's is to give way to the incoming SMBC directors. The resignations were received on July 31, 2023.

Appointment of Advisory Board Members: Reappointment of Atty. Lilia B. de Lima and appointment of Masayuki Kawakami as Advisory Board Members, to take effect at the close of business on July 31, 2023 (subject to BSP/other regulatory approvals, as may be required); Revised Board Committee Membership: Appointment of Erika Fille T. Legara, Ph.D. as Member of the Risk Oversight Committee (she will step down as Member of the Corporate Governance Committee), to take effect at the close of business on July 31, 2023, Appointment of John Law as Member of the AML Committee and Trust Committee (Gil A. Buenaventura will step down as Member of the AML Committee), to take effect at the close of business on July 31, 2023, Appointment of Hiroki Nakatsuka as Member of the Executive Committee, to take effect at the close of business on July 31, 2023, Appointment of Katsufumi Uchida as Member of the Risk Oversight Committee, to take effect at the close of business on July 31, 2023, Appointment of Ms. Mercelu B. Sinlao-Mariano as Head of Division 3 of the Wealth Management Group with rank of Senior Vice President (subject to BSP and subject to BSP and other regulatory approvals as may be required). Interlocking Directorships of RCBC Officers in RCBC International Finance Limited (IFL) (subject to BSP/other regulatory approvals, as may be required).

Martin Roberto G. Tirol FSVP /Deputy Group Head, Global Transaction Banking Group - Director, Chairman of IFL; Alvin A. Perez - FVP /Segment Head, Retail Cash Management - Director of IFL; Harold Christian S. Talledo - VP /Division Head, Wholesale Banking Compliance - Director of IFL; Jay Roy M. Comia - VP /Division Head, Compliance - Operations - Director of IFL. Mr. Hiroki Nakatsuka is currently the General Manager of the Asia Growing Markets Department of Sumitomo Mitsui Banking Corporation ("SMBC"), General Manager of Business Development Department of SMBC, and the General Manager of the Asia Growing Markets Department Sumitomo Mitsui Financial Group ("SMFG"). Prior to this, he served as the General Manager of SMBC's Manila branch, and General Manager of the Global Advisory Department, Tokyo of SMBC.

He graduated from the Faculty of English, Kansai Gaida University. Mr. Katsufumi Uchida is currently the Managing Executive Officer of SMBC, Head of Asia Business Development Division of SMBC, Deputy Head of APAC Division of SMBC, and Managing Executive Officer of SMFG. He previously served as SMBC's Deputy Head for Europe, Middle East, and Africa ("EMEA") Division, and Head of the International and Structured Finance Department for EMEA Division, among other roles.

He graduated from the School of Political Science and Economics, Waseda University. Mr. Masayuki Kawakami is the General Manager of the SMBC's Strategic Planning Department, Global Banking Unit. He previously served as the Head of SMBC's Credit Department for Asia-Pacific Division, among other roles.

He is a Financial Risk Manager® as certified by the Global Association of Risk Professionals, a Chartered Financial Analyst® as certified by the CFA Institute, a Certified International Investment Analyst as certified by the Association of Certified International Investment Analysts, and a Certified Member Analyst of the Securities Analysts Association of Japan. He also passed the US Certified Public Accountant exams. He is a graduate of Keio University where he obtained his Bachelor of Business and Commerce. He also finished his Masters in Finance at the University of Michigan, Dearborn.

Ms. Sinlao-Mariano is a seasoned sales leader with focus in wealth management and retail branch banking. She has 27 years of significant experience in both multinational and local banks, like Citibank, N.A., Citibank Savings Inc., Philippine National Bank and Citytrust Banking Corporation, and acquired competencies in client acquisition and relationship management, cross-selling of credit, investment and insurance products, asset sales and underwriting for personal and business loans, cash operations and client servicing and talent management and development. She graduated from Miriam College with a degree in Bachelor of Arts in Communication.