Annual stockholders' meeting

The Annual Stockholders Meeting (ASM), is one major venue for dialogue between shareholders, management, and the Board.

The ASM is held on the last Friday of March or on a date determined by the Board of Directors. To ensure a wider reach, it is held in an accessible venue in Manila. With the advent of technology, webcasts are also made available and recorded. This is to ensure greater understanding, clarity and transparency for all involved.

The ASM allows our shareholders to advise and adopt resolutions on important matters on which they have legal sovereignty, such as:

• appropriation of profit
• ratification of acts and resolutions adopred by the Board and Management
• approval of the annual report of the President and Bank's statement of condition
• amendments to Articles of Incorporation or By-Laws
• election of the Board of Directors, external auditor
• ensuring measures to amend shareholders' equity

This annual gathering is also a key communications event for our Board and Management to engage in meaningful dialogue with shareholders and investors. Discussions on the company's narrative, key issues facing the Bank and reviewing the fiscal information for the past year are just among the various items on the agenda.

Taking our next steps requires listening to everyone involved. At the ASM, approvals are acquired via votation.

All items in the agenda which require approval by the stockholders will be decided upon by acquiring the affirmative vote of stockholders representing at least a majority of the issued and outstanding voting stock. This includes election of the Board of Directors.

Stockholders may vote in person or in absentia by proxy executed in writing by a stockholder or a duly authorized attorney-in-fact. Voting is considered on a poll, by shares of stock, that is, one share entitles the holder to one vote, two shares to two votes.

Cumulative voting as provided for in the Corporation Code may be applied in the election of the Board of Directors and directors are elected individually. The Rules of Conduct, voting, and vote tabulation procedures are explained during the meeting. All votes will be tabulated byt he Office of the Corporate Secretary. Results will be validated by the Bank's external auditor.

We proactively encourage the full participation of our shareholders, including institutional shareholders, at our ASM each year. Shareholders are encouraged to ask questions at the ASM to ensure accountability and identification with the Board of Directors’ and Management’s strategy and goals for the business of BPI.

Information on the company in the ASM is shared regularly with the investing public.

View previous presentations delivered by the Chairman and the President & CEO