Megaworld Corporation announced that Effective 03 June 2024, Mr. Kingson U. Sian relinquished his position as Director, membership in the Executive Committee and designation as Executive Director of the Company, following his retirement from Travellers International Hotel Group Inc. on 01 June 2024. In its meeting today, 03 June 2024, the remaining directors, while still constituting a quorum and upon the recommendation of the Corporate Governance Committee, resolved to appoint Ms. Lourdes T. Gutierrez-Alfonso as director of the Company to serve for the unexpired term of Mr. Sian. Ms. Gutierrez-Alfonso was likewise designated as member of the Executive Committee to fill in the vacancy in said committee.

Ms. Gutierrez-Alfonso, 60 years old, is the current Chief Operating Officer of the Company and is a member of the Company's 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.