Letter of Comfort to
All Depositors and Customers of Welcome Bank (Rural Bank), Inc.

Dear Sirs / Mesdames,
Welcome Financial Group in Korea, to which Welcome Bank (Rural Bank), Inc. (“WB”) belongs, reiterate our firm support for WB to successfully enter and expand its business in the Philippine financial market.
We intend to increase WB's capitalization by the end of 2021 and eventually convert to a thrift bank, subject to the approval and requirements of the Bangko Sentral ng Pilipinas. We will extend all necessary technical, financial, and human resources to WB with an aim at developing a highly calibered banking system to offer state-of-the-art excellence in customer service.
Thank you for giving us an opportunity to service for you. Hand in hand with WB, we will continue to do our best to provide you with safe and reliable financial services.

For and on behalf of Welcome Financial Group

By:

Name: Jong Joo Son
Title: Chairman

Date: October 19, 2020