Conversion/Upgrade of the License of Mount Makiling Rural Bank, Inc. to Operate from a Rural Bank into a Thrift (Development) Bank under the Corporate Name Makiling Development Bank Corporation

BANGKo SeNrnaL NO PILIPINAS OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR crRcutAR LETTER NO. Ct-2019 - 052 To : ALL BSP-SUPERVISED FINANCIAL INSTITUTIONS Subject : Conversion/Upgrade of the License of Mount Makiling Rural Bank, Inc. to Operate from a Rural Bank into a Thrift (Development) Bank under the Corporate Name Makiling Development Bank Corporation The Bangko Sentral ng Pilipinas approved the conversion/upgrade of the license of Mount Makiling Rural Bank, Inc. to operate from a rural bank into a thrift (development) bank under the corporate name Makiling Development Bank Corporation (MDBC). The Securities and Exchange Commission approved on 31. July 2019 the amended Articles of Incorporation and By-Laws of MDBC bearing the upgraded banking license and new corporate name. MDBC will commence its operations as a thrift (development) bank on 20 September 20L9. For information and guidance. aAz?F- ' G. FONACIER l7 September 20L9 FSS Licensing Form No. 04-024 * Version 0 * Updated 25 Jan 2018 File/Ref No. FSDV-2O1909-0433e-G2D5-M-MDBC