EXHIBIT 99.1

This Statement on Form 4 is filed jointly by the Reporting Persons listed below. The principal business address of each of these Reporting Persons is 333 South Grand Avenue, 28th Fl., Los Angeles, CA 90071.

Name of Designated Filer: Oaktree Capital Group Holdings GP, LLC

Date of Event Requiring Statement: December 16, 2011

Issuer Name and Ticker or Trading Symbol: First BanCorp [FBP]

	/s/ Michael P. Harmon
	Michael P. Harmon


	OAKTREE PRINCIPAL FUND V (DELAWARE), L.P.

	By:	Oaktree Fund GP, LLC, its general partner
	By:	Oaktree Fund GP I, L.P., its managing member


	By:	/s/ Lisa Arakaki
		Name: Lisa Arakaki
		Title: Authorized Signatory

	By:	/s/ Martin Boskovich
		Name: Martin Boskovich
		Title: Authorized Signatory


	OAKTREE FF INVESTMENT FUND AIF (DELAWARE), L.P.

	By:	Oaktree Fund AIF Series, L.P. — Series I, its general partner
	By:	Oaktree Fund GP AIF, LLC, its general partner
	By:	Oaktree Fund GP III, L.P., its managing member


	By:	/s/ Lisa Arakaki
		Name: Lisa Arakaki
		Title: Authorized Signatory

	By:	/s/ Martin Boskovich
		Name: Martin Boskovich
		Title: Authorized Signatory

	OAKTREE FUND AIF SERIES, L.P. — SERIES I

	By:	Oaktree Fund GP AIF, LLC, its general partner
	By:	Oaktree Fund GP III, L.P., its managing member


	By:	/s/ Lisa Arakaki
		Name: Lisa Arakaki
		Title: Authorized Signatory

	By:	/s/ Martin Boskovich
		Name: Martin Boskovich
		Title: Authorized Signatory


	OAKTREE FUND GP AIF, LLC

	By:	Oaktree Fund GP III, L.P., its managing member


	By:	/s/ Lisa Arakaki
		Name: Lisa Arakaki
		Title: Authorized Signatory

	By:	/s/ Martin Boskovich
		Name: Martin Boskovich
		Title: Authorized Signatory


	OAKTREE FUND GP III, L.P.


	By:	/s/ Lisa Arakaki
		Name: Lisa Arakaki
		Title: Authorized Signatory

	By:	/s/ Martin Boskovich
		Name: Martin Boskovich
		Title: Authorized Signatory


	OAKTREE AIF INVESTMENTS, L.P.

	By:	Oaktree AIF Holdings, Inc.


	By:	/s/ Lisa Arakaki
		Name: Lisa Arakaki
		Title: Managing Director and Assistant Secretary

	By:	/s/ Martin Boskovich
		Name: Martin Boskovich
		Title: Senior Vice President

	OAKTREE AIF HOLDINGS, INC.


	By:	/s/ Lisa Arakaki
		Name: Lisa Arakaki
		Title: Managing Director and Assistant Secretary

	By:	/s/ Martin Boskovich
		Name: Martin Boskovich
		Title: Senior Vice President

HARMON MICHAEL P 4