The Board of Directors of International Container Terminal Services, Inc. announces that Mr. Rafael D. Consing,Jr. is retiring from his role as Chief Financial Officer and Compliance Officer with immediate effect. Mr. Rafael D. Consing Jr. ("Joel") has accepted his nomination to a position in the Office of the Presidential Adviser on Investment and Economic Affairs, Office of the President of the Republic of the Philippines. He will be replaced by Mr. Emilio Manuel V. Pascua as ICTSI's Chief Financial Officer.

Mr. Pascua joined ICTSI in 2013 as Director of Corporate Finance. He was appointed Director, Head of Mergers and Acquisitions in 2020 and was promoted to VP, Global Mergers and Acquisitions in 2021. Prior to joining ICTSI, he held various positions in finance and business development in the container terminal industry, as well as infrastructure project financing.

He received his Masters in Business Administration from the Wharton School, University of Pennsylvania in 2003.