The GNC assists the Board in the performance of its functions to: (i) establish the Company’s corporate governance framework, principles and policies and oversee their implementation; (ii) develop and implement the Board’s performance evaluation process; (iii) review and evaluate the qualifications of the persons nominated to the Board and to other positions requiring appointment by the Board; (iv) identify persons qualified and two are non-independent directors, namely, Mr. Junichi Igarashi and Mr. Manuel V. Pangilinan, who is the chairman of this committee.