/ BOARD EXTENDS SABIN ABOITIZ ROLE AS AEV PRESIDENT, CEO

ON MAY 5, 2021, the board of directors of Aboitiz Equity Ventures Inc. (AEV) approved the extension of Sabin Aboitiz’s term as group president and chief executive officer to Dec. 31, 2027, from the original scheduled retirement date of Dec. 31, 2024. The board’s vote of confidence for Sabin comes as AEV and its business units are targeting recovery after the widespread economic disruption caused by the Covid-19 pandemic. The Aboitiz Group posted a consolidated net income of P7.8 billion in the first quarter of 2021, a 276 percent increase from P2 billion from the same period in 2020.