YES. The Company conducts annual performance assessment of the Board Committees.   Members of the Board and the Board Committees accomplish their respective Self-Assessment Questionnaires for this purpose. Results of the assessment process are duly reported to the Board of Directors.

The company also disclosed the criteria   and   process followed for the assessment.

Audit Committee - The Company adopts SEC’s guidelines on effectiveness of Audit Committee performance as its appraisal criteria which cover (i) committee structure & organization, (ii) oversight on financial reporting and disclosures, (iii) oversight on risk management &internal controls, (iv) oversight on management & internal audit, and (v) oversight on external audit.

Areas to assess effectiveness of the Corporate Governance Committee, and Risk Committee include performance of oversight duties and responsibilities as per SEC Revised Code of 100 Corporate Governance and respective Board-approved Committee Charters, as well as committee structure, meetings, resources, training and Charter evaluation.

Audit Committee - Annual self-assessment of its own performance using a formal questionnaire with defined quantitative rating and corresponding qualitative description for such rating. Eff. 2012, results of the Audit Committee’s self-assessment and rating of its performance are reported to SEC.

Board Committee performance self-assessment by respective Committee Members using a formal questionnaire is facilitated by Castillo Laman Tan Pantaleon & San Jose Law Firm in 2020. Results are discussed in Committee meetings highlighting those areas for appropriate action.