Tercero AI-Nuler

Board of Directors and Executive Officers

For an effective Board composition, the selection of Members of the Board is based on the following qualifications:

Must own at least one (1) share of stock of the Corporation;
Must have a college education or equivalent academic degree;
Must have practical understanding of the business of the corporation or previous business experience;
Must be at least twenty one (21) years old;
Must possess integrity and probity; and
Must have attended a seminar on corporate governance conducted by a duly recognized private or government entity or must have issued an undertaking to attend such a seminar as soon as practicable.

Article of Incorporation and By-Laws
Manual on Corporate Governance

SPC Power Corporation Board Of Directors
2026 - 2027

Dennis T. Villareal

Alfredo L. Henares

Alberto P. Fenix, Jr.

James Roy N. Villareal

Yong Su Jeon

Joongha Lee

Indong Kim

Ji Min Oh

Independent Directors

Enrison T. Benedicto

Francisco L. Viray

Guillermo D. Luchangco

SPC Power Corporation Officers
2026 - 2027

Alfredo L. Henares

Chairman of the Board

James Roy N. Villareal

President and CEO

James Roy N. Villareal

Executive Vice President

Alberto P. Fenix, Jr.

Executive Director

Engr. Cesar O. Villegas

Chief Operating Officer

Atty. Maria Luz Caminero

SVP for Legal & Regulatory Affairs / Compliance Officer

Niño Ray D. Aguirre

SVP for Finance & Administration / Treasurer

Atty. Victor P. Lazatin

Corporate Secretary

Atty. Mishelle Anne R. Rubio-Aguinaldo

Assistant Corporate Secretary

Board Committees

The Company’s Board Committees consist of the following: Executive Committee, Audit Committee, and Corporate Governance Committee.

Members of the Board Committees are the duly elected directors of the Company’s Board of Directors as regular members assisted by key officers of the Company on ex-officio basis. These Board Committees hold meetings at twice a year to ensure that sound strategies for the Company’s development are reviewed, monitored and achieved.

Executive Committee

The Board of Directors of SPC Power Corporation hereby establishes the Executive Committee of the Board pursuant to the Revised Corporation Code, its By-Laws and Manual of Corporate Governance..

Charter of the SPC Executive Committee

The following are the current composition of the Executive Committee:

Alfredo L. Henares

Chairman

James Roy N. Villareal

Member

Alberto P. Fenix, Jr.

Member

Yong Su Jeon

Member

Joongha Lee

Member

Audit Committee

The Board of Directors of SPC Power Corporation hereby establishes the Audit Committee, in compliance the principles of good corporate governance.

Charter of the SPC Audit Committee

The following are the current composition of the Audit Committee:

Francisco L. Viray

Chairman

Enrison T. Benedicto

Member

Joongha Lee

Member

Alfredo L. Henares

Member

James Roy N. Villareal

Member

Corporate Governance Committee

The Board of Directors of SPC Power Corporation hereby establishes the Corporate Governance Committee of the Board pursuant to the principles of good corporate governance.

Charter of the Corporate Governance Committee

The following are the current composition of the Corporate Governance Committee:

Enrison T. Benedicto

Chairman

Francisco L. Viray

Member

Guillermo D. Luchangco

Member

Joongha Lee

Member

James Roy N. Villareal

Member

Chairman

Alfredo L. Henares

Alfredo L. Henares, Filipino, 70 years old, has been a Director of the Parent Company since 1994. On May 30, 2014, he was elected as Chairman and continues to serve as Chairman up to the present. He is also currently Chairman of the Parent Company’s Executive Committee, a member of the Parent Company’s Audit Committee, a Director of KEPCO SPC Power Corporation, and a member of the Executive Committee of KEPCO SPC Power Corporation. He was Executive Vice President and CFO of KEPCO SPC Power Corporation up to April 7, 2022; previously a Treasurer of the Parent Company and Mactan Electric Company, Inc. (MECO); On August 14, 2020, he was reelected in MECO as a Director and elected as Chairman of MECO’s Audit Committee, Compliance and Related Party Transactions Committee, and Executive Committee.

He is likewise the Treasurer and Director of the following corporations:

Salcon Philippines, Inc.
Salcon International, Inc.
SPC Property and Development Corp.
SPEC Properties, Inc.
Western Panay Hydropower Corp.
SPC Electric Co., Inc.
and SPC Light Co., Inc.

He was a Director of Bohol Light Company, Inc. (BLCI) and Bohol Water Utilities, Inc. (BWUI) for about seven years prior to his appointment as Chairman of both companies effective May 2007. In the year 2015, he relinquished his Chairman position to Mr. Lim Chan Lok and went back to being a Director at BWUI. He is also the Chairman of SPC Island Power Corporation, SPC Malaya Power Corporation, and KV Holdings, Inc.; President of Progressive Broadcasting Corp.; a Director of Isarog Pulp and Paper Co. He graduated from Harvard Graduate School with an MBA degree and from the Ateneo de Manila University with a Bachelor’s Degree in Business Management.

President and Chief Executive Officer

James Roy N. Villareal

James Roy N. Villareal, Filipino, 35 years old, was elected to the Parent Company’s Board on November 4, 2021. He first joined the Parent Company as Assistant Vice President on November 28, 2018; Vice President on May 30, 2019 until he was appointed Executive Vice President on November 30, 2023, and continues to serve as such up to the present. On April 8, 2022, he was nominated and elected as Vice President of KEPCO SPC Power Corporation. On August 9, 2022, he was elected as Vice President of Bohol Water Utilities, Inc. He was connected with Seawood Resources, Inc. as a Senior Analyst from March 2014 to March 2018. He was an intern at Ernst & Young, LLP, Assurance Services Department in Beijing, China; One Bank Talent Development Program of Credit Suisse AG in Hongkong; and Bank of Singapore Finance Department in Singapore. He was also a Management Trainee with Asian Agri Group in Sumatra, Indonesia from September 2012 to December 2012; and a Cadet Assistant Manager with Samling Plantation Group, Sdn Bhd in Sarawak, Malaysia from February 2013 to August 2013. He graduated from International School Manila with an International Baccalaureate (IB) Diploma in May 2008 and from the University of Illinois at Urbana-Champaign with a degree of Bachelor of Science in Finance, Class of 2012