On January 1, 2022, the Board of Directors of East West Bancorp, Inc. (the ‘Company') appointed Manuel P. Alvarez as a director of the Company. Mr. Alvarez was also appointed to the Board of Directors of the Company's wholly-owned subsidiary, East West Bank. The appointment is effective immediately.

Mr. Alvarez will be a member of the Risk Oversight Committee of the Company. With this appointment, the Company will have nine directors, eight of whom are independent, including Mr. Alvarez.