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Recruitment process new CBCS-president.

Willemstad/Philipsburg:--- As previously announced, the employment contract with Mr. Traa as acting president-director of the Centrale Bank van Curaçao en Sint Maarten (CBCS) terminated as of
January 1, 2020. Subsequently, the Board of Supervisors of CBCS has initiated the recruiting process for the position of president-director of the CBCS in order to complete the current Board of
Directors. It is to be expected that within a few months a recommendation can be made by Board of
Supervisors to the governments of Curaçao and Sint Maarten.

In anticipation of the appointment of a new president, Mr. José Jardim will continue to exercise the function of acting president of the CBCS.

In the meantime, to enable the Board of Directors to meet the many challenges the CBCS is facing, the Board of Supervisors has found Mr. Ron Gomes Casseres willing to assist the Board of
Directors as strategic and operational advisor. Mr. Gomes Casseres, who is currently retired, has extensive experience in the financial area, especially in banking. During his career, he has had
different management and advisory positions and commissionerships in both the private and public sector. We are convinced that Mr. Gomes Casseres, with his broad knowledge and experience and his solid reputation within the financial sector, will make a significant contribution to the developments within the CBCS.

The temporary appointment of Mr. Gomes Casseres will be until no later than the end of May 2020.

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