OVERVIEW

Governance at CIC

Concepcion Industrial Corporation (“CIC” or the “Company”) and the CIC group of companies (the “Group”) believe that the key to long-term sustainability and success largely depends on having a good name and solid reputation in the market place. Thus, the business and operations of the Company and the Group will be conducted in accordance with the principles and best practices of good corporate governance.

As a publicly listed company, the Board of Directors has formally adopted a Corporate Governance Manual (the “Manual”) that incorporates the established governance policies and practices in accordance with applicable laws, rules and regulations, including the Code of Corporate Governance for Publicly Listed Companies. The amended Manual was approved and adopted by the Board of Directors on February 12, 2020 to incorporate current regulations. Through this Manual, the Board of Directors of the Company (“Board”) aims to promote adherence and further strengthen the Group’s commitment to good corporate governance.

The Philippine Revised Corporation Code (the “Corporation Code”) lays down the basic legal framework for corporate governance of every Philippine corporation.

It is supplemented by the Securities Regulation Code or Republic Act No. 8799 (the “SRC”), the rules issued by the Securities and Exchange Commission (“SEC” or “Commission”) to implement Republic Act 8799 and the Code of Corporate Governance for Publicly Listed Companies or SEC Memorandum Circular No. 19, Series of 2016 ( the “CG Code”), this Manual, and the charters of the Board Committees. All terms defined herein shall have the definitions given in the rules implementing Republic Act 8799.