Aboitiz Power Corporation announced that during its regular meeting held on July 24, 2023, the Board of Directors of the company accepted the resignation of Mr. Satoshi Yajima as a member of the Board of Directors, and the appointment of Mr. Izumi Kai as his replacement, effective August 15, 2023. Mr. Kai, 49 years old, Japanese, currently serves as the Executive Director, Head of the Platform Business Division of JERA Co. Inc. From 2021 to 2023, he served as the Chief Strategy Officer at JERA Americas Holdings Inc. where he successfully led the development of a diversified portfolio of low-carbon assets, driving growth and environmental sustainability goals.

Additionally, as the former President of JERA Energy America LLC from 2019 to 2023, he spearheaded the procurement of gas and power and played a pivotal role in the exporting of LNG from the Freeport LNG Project. His experience includes diverse leadership positions with different Japanese firms such as General Manager for Global Fuel Trading Business Development at JERA Co. Inc. and Senior Manager for Marketing and Sales of LNG at Japan Petroleum Exploration Co.

Ltd. Mr. Kai's experiences in different firms and leadership roles allow him to effectively navigate the complexities of the global energy landscape. His extensive insights into the complexities of the energy market, particularly in global strategy, business development, and project management will bring a practical and strategic perspective to the AboitizPower board. Mr. Kai holds a Bachelor of Engineering from the Ritsumeikan University, and a Master's Degree in Business Administration in Global Management with a major in Finance from the Arizona State University.