Araneta Properties, Inc. announced that Mr. Crisanto Roy Alcid has tendered his resignation as the President of the "Corporation which the Board of Directors has accepted. The resignation shall take effect the end of business day on February 21, 2024. In view of the vacancy in the position of President, the Board has elected Mr. Luis Araneta to be the new President of the Corporation, effective February 22, 2024.

In abidance with law which prohibits an officer from subsequently holding both positions of President and Treasurer, Mr. Luis M. Araneta has concurrently resigned as the Treasurer of the Company in order to serve as the Company's new President. The Board of Directors has accepted the resignation which shall also take effect at the end of business day on February 21, 2024. In view of the vacancy in the position of Treasurer, the Board of Directors has elected Mr. Crisanto Roy Alcid as the new Treasurer of the Corporation, effective February 22, 2024.