Tripartite Merger of Bangko Kabayan, Inc. (A Private Development Bank) [KBYAN], First Agro-Industrial Rural Bank, lnc. (FAIR) and Progressive Bank, Inc. Undername Progressive A Rural Bank (PARBI) with KBYAN as the Surviving Entity

Fi lelRef. No. FSD I |-2023-O8-OO85a-FSD 2-M -KBYAN BANGKO SENTRAL NG PILIPINAS OFFICE OF THE DEPUW GOVERNOR FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2O23.O48, To : AIIBSP-supentisedFinanciallnstitutions Subject : Tripartite Merger of Bangko Kabayan, Inc. (A Private Development Bank) IKBYANL First Agro-tndustrial Rural Bank, lnc. (FAIR] and Progressive Bank, Inc. Undername Progressive A Rural Bank (PARBI) with KBYAN as the Surviving Entity The Securities and Exchange Commission approved on 13 July 2o23 the Articles and Planof Mergerexecuted on27 December2O2landSupplementalArticlesof Merger executed on ]5 and 16 June 2023, by and between, KBYAN, the surviving corporation, PARBI and FAIR, the absorbed corporations, whereby the entire assets and liabilities of PARBI and FAIR will be transferred to and absorbed by KBYAN. The merger took effect on'13 July 2023. For information and guidance. Digitally signed by . Chuchi G. Fonacier Date: 2023.09.1 5 1 5:03:16 +08'00' CHUCHI G. FONACIER Deputy Governor 15 September2023 Page I ofl * Updated lO June 2022 FSS Licensing Form No. O2-Ol9'Version O