Cityland Development Corporation announced that during the regular meeting of the Board of Directors held on December 7, 2021, Mr. Stephen C. Roxas signified his intention of retiring as Director of Cityland Development Corporation (the Company). The Board noted the retirement of Mr. Stephen C. Roxas. Due to the outstanding service and invaluable leadership that he provided to the Company, the Board appointed him as Emeritus Board Member. Further to the retirement of Mr. Stephen Roxas from the Board, Mr. Jefferson Roxas was appointed as member of the Board of Directors to serve the unexpired term of Mr. Stephen C. Roxas. Mr. Jefferson C. Roxas has been with the Cityland Group of Companies since 2004.