In its special meeting 25 June 2024, the Board of Directors appointed Ms. Lourdes T. Gutierrez-Alfonso as the new President of Megaworld Corporation (the "Company") effective immediately. Dr. Andrew L. Tan, the previous President and Chief Executive Officer of the Company, will remain as Chairman of the Board of Directors. Ms. Gutierrez-Alfonso, 61 years old, was the Chief Operating Officer of the Company prior to her appointment as
President. She is also a Director of the Company and is a member of its Board Executive Committee and Management Executive Committee. She has been with the Company since 1990, and currently serves as a director in numerous affiliate companies, including publicly-listed Global-Estate Resorts Inc. and MREIT Inc. She has extensive experience in real estate and a strong background in finance and marketing. Gutierrez-Alfonso graduated cum laude from the Far Eastern University with the degree of Bachelor of Science major in Accounting in 1984. She is a certified public accountant by profession.