Committee Charting

Triple-S Management Corporation ("TSM") is an independent licensee of the Blue Cross and Blue Shield Association ("BCBSA"). The terms of our license agreement with the BCBSA, require TSM to maintain a classified board structure. The Board currently consists of three groups of directors, with one group being elected each year and members of each group holding office for a three-year term.

The non-management directors regularly hold executive sessions in which management does not participate. The Chairman of the Board presides at such sessions. In accordance with our Corporate Governance Guidelines, the independent members of our Board also meet in executive session on at least one occasion per year. Because the Chairman of the Board is not an independent director, the Vice-Chairman of the Board, who is independent, presides at such sessions.