FIRST BANCORP PR

Disclosure Controls and Procedures

First

its

Chief

Officer

and

Chief

the

of

controls and

(as defined

in Rule

13a-15(e) and

15d-15(e) under

the Exchange

Act) as

of the

end of the period covered

by this Form 10-K. Based

on this evaluation as of

the period covered by this Form

10-K, our CEO and CFO

that

the

and

were

and

provide

that

the

to

be

by

the

in

reports

that

the

files

or

submits

under

the

Act

is

recorded,

processed,

summarized

and

within

the

time

periods

in

SEC

rules

and

forms

and

is

and

reported to

CEO and

CFO, as

appropriate to

allow timely

decisions regarding

disclosure.

Management’s Report on Internal Control

Report

on

Control

over

Reporting

is

in

Part

II,

Item

of

this

Form

10-K

and

incorporated herein by reference.

The effectiveness of the Corporation’s

internal control over financial reporting as of December

31, 2023 has been audited by Crowe

LLP,

an independent

registered public

accounting firm,

as stated

in their

report included

in Part

II, Item

8 of

this Annual

Report on

Changes in Internal Control over Financial Reporting

There have

been no

reporting (as

defined in

Rules 13a-15(f)

and 15d-

15(f)

under

the

Act)

during

our

most

recent

quarter

ended

31,

that

have

affected,

or

are

reasonably likely to materially affect, the Corporation’s

internal control over financial reporting.