Organizational Structure

The Board of Directors shall form Board Committees to aid in ensuring compliance with the
principles of good corporate governance. The members of such Committees shall be appointed by
the Board of Directors annually.

The Company's Board has sevem standing committees

  Executive Committee; 
Committee; 

  Nomination and Governance Committee; 

Committee; 

   Audit Committee;
Committee;  

  Remuneration and Leadership Development Committee;

  Finance Committee; 
Committee; 

  Risk Management Committee; and 

and 

  Related Party Transactions Committee. 

Committee. 
 All committees
committees have approv
approved
ed charters
charters defining and specifying
specifying the scope of their responsibilities.
responsibilities.

1. Executive Committee (ExCom)

 

is composed of 5 directors, one of whom is an independent director. The ExCom may act, by
majority vote of all its members, on such specific matters within the competence of the Board, as
may be delegated to it under the By-Laws, or upon a majority vote of the Board, subject to the
limitations provided by the Corporation Code.

The following are the members of the ExCom:

Member Designation

Manuel V. Pangilinan   Chairman

Lance Y. Gokongwei   Vice Chairman

John L. Gokongwei, Jr. Member

 

Jose Ma. K. Lim   Member

 Artemio V. Panganib
Panganiban
an   Member(Independent Director)

In 2016, the ExCom:

   Approved the execution

execution of short-term Power Supply
Supply Agreement
Agreements
s (PSAs)
(PSAs) under mutually

acceptable terms to take effect upon ERC approval

  Reviewed and evaluated the power supply and demand outlook and favorably endorsed

certain recommended investments in power generation