BOARD MEETINGS & ATTENDANCE. ........." 1) SCHEDULE OF MEET|NGS..... .........."..."...16 2l DETATLS OF ATTENDANCE OF D|RECTORS....... ....................17 3) SEPARATE MEETING OF NON-EXECUTIVE D1RECrORS......."...... "...."....t7 4l ACCESS TO rNFORMATION..........

s) Family, Commercial and Contractual Relations

(a) Indicate, if applicable, any relation of a family,t commercial, contractual or business nature that exists between the holders of significant equity 15% or more), to the extent that they are known to the company:

(b) Indicate, if applicable, any relation of a commercial, contractual or business nature that exists between the holders of significant equity (5% or more) and the company:

{c) Indicate any shareholder agreements that may impact on the control, ownership and strategic direction of the company:

6) Alternative Dispute Resolution

Describe the alternative dispute resolution system adopted by the company for the last three (3) years in amicably settling conflicts or differences between the corporation and its stockholders, and the corporation and third parties, i ncluding regulatory authorities.

& Third Parties

Corporation & Regulatory Authorities

The Head of Corporate and Legal Affairs and the Compliance Officer is responsible for resolving possible disputes of Corporation & Stockholders; Corporation & Third Parties and Corporation & Regulatory Authorities' There have been no

known disputes for the last three years.

c.

1) BOARD MEETINGS & ATTENDANCE

Are Board of Directors' meetings scheduled before or at the beginning of the year?

Board meetings are normdlly scheduled prior to the start of the succeeding yeor. These are adiusted os needed prior to each of the scheduled meetings.

2l Attendance of Directors

Chairman Helen Y. Dee Member Milagros V. Reyes Member Yvonne S. Yuchengco Member MedelT. Nera

Member Reynaldo B. Vea Member Albert S. Yuchengco

Member Perry Y. Uy Independent Nicasio l. Alcantara lndependent Ernestine Carmen Jo D. Villareal-Fernando Mav 19,2016

May 19, 20L6 Mav 19, 2015 May 19, 2016 May 19, 2016 May 19, 2016 May 19, 2016 May 19, 2015 May 19, 2016

6 6

6 6 6 6 o

6 6 6 L0a% 6 tag% 5 8333%

6 LA0% 6 t00%

5 83.33% 3 s0% 6 L00% 5 83.33%

3) Do non-executive directors have a separate meeting during the year without the presence of any executive? lf yes, how manYtimes?

None.

4) ls the minimum quorum requirement for Board decisions set at two-thirds of board members? Please explain'

No. The Conpdny follows the minimum requirements set by the C.orporotion Code ond that of the SEC.

5) Access to Information

(a) How many days in advance are board papersa for board of directors meetings provided to the board?

Copies ofthe Agendo lor the meetinq dre normally sent at least 7 to 70 ddys dheod oJthe scheduled meeting.

(b) Do board members have independent access to Management and the Corporate Secretary?

fes,

(c) State the policy of the role of the company secretary. Does such role include assisting the Chairman in preparinB the board agenda, facilitating training of directors, keeping directors updated regarding any relevant statutory and regulatory changes, etc.?

The @rpomte Secretdry is responsible for the sqlekeeping dnd presevdtion of the integw of the minutes d the meetings of the Boord ds well ds the other officiol documents, records ond other information essentiol to the conduct ol his duties ond responsibilities to the Corporotion'

Other duties lnclude the foltowing:7. tnlorm the membe! of the Boord of the dgenda of the meetings ond ensure thdtthe members hdve before them occutote inJormation that will enable them to orrive dt dn intelligent decisions on ndtte6 - thdt requi re thei r a P Ptovo l; He seyes ds an adviser of'the Bodrd, and dssist the Board in making business iudqment in goo*|aith ond in the petormance of their responsibilities and obligdtions; 3. Workfdi y ond obiectively with \ootd, Mdnogement, ond stockholders;

a Board papers consist of complete and adequate information about the matters to be taken in the board meeting. lnformation includes the background or explanation on matters brought before the Board, disclosures, budgets, forecasts and internalfinancial documents. t7