The Board of Directors of Mabuhay Vinyl Corporation in its regular meeting on 21 July 2022, accepted with regrets the resignation of Dr. Jose O. Juliano and Mr. Renato M. Migriño as Independent Directors effective 31 July 2022. In the same meeting, upon endorsement by the Nomination Committee, the Board duly elected as Independent Directors Mr. Ramon J. Abejuela and Mr. Francis J. Kong, effective 1 August 2022, to serve the unexpired portion of Dr. Juliano's and Mr. Migriño's term of office. Dr. Jose O. Juliano resigned due to old age.

Mr. Renato M. Migriño resigned due to personal reasons.