Macroasia Corporation

OVERVIEW OF MAC March 2018

Confidential: Do not duplicate or distribute without written permission from MacroAsia Corporation. This document is for discussion purposes only and is not for general posting. AGENDA Overview Group Structure Historical Financial Performance Key Development & Business Drivers 3Q 2017 Financial Results Share Buyback Program Return to Shareholders Target Growth Ongoing Expansion Projects QUICK BACKGROUND

• Used to be an operating mining company in the 1970’s, after being incorporated on February 16, 1970 (known as Infanta Mineral Our History Development and Industrial Corp.

• More than 20 years experience in aviation services, after being renamed as MacroAsia Corporation

• Major assets consist of aviation-related facilities, water concessions, treatment plants and pipelines, and mineral production sharing agreements and mine tenements;

• In the Philippines, leading provider of: aircraft maintenance, repair Our Corporate and overhaul; inflight catering; ground handling in 23 commercial Profile airports in the country • Starting 2016, new player in water utilities/concession outside of Metro Manila

• Provider of nickel exploration services for other companies QUICK BACKGROUND

• To be the globally competitive aviation support, logistics services provider and a natural resources development partner in the Our Mission Philippines

• We will passionately pursue our vision with: ➢ Efficiency Our Motto ➢ Strategic Focus, and ➢ Character that models a world-class people

• Our way of life is build on the fundamental ideal of service to all stakeholders, especially our customers, guided by: Our Values ➢ Integrity ➢ Teamwork ➢ Respect ➢ Accountability; and ➢ Responsible Citizenship OUR BUSINESS STRATEGY: HEART OF FLYING 1 Grow and manage well what we have, focusing on core organic growth.

MAC's paid in capital is about P1,531,000,000. MAC should shoot for Net Profit of P350,000,000 per annum.

4 2 Grow through JVs, Expand into high- FOCUS ON SUSTAINABLE acquisitions and growth areas AND strategic partnerships. PROFITABLE GROWTH

3 Grow adjacent opportunities and businesses FINANCIAL SUMMARY - 2016 AUDITED (FULL YEAR) & 2017 3Q (9 MONTHS) PHP (In Millions) MUSD EQUIVALENT PARTICULARS 2016A - full year 2017 3Q(9 months) 2016 2017 3Q REVENUES mPHP 2,334.95 mPHP 2,175.92 mUSD 46.70 mUSD 43.52 PAT 440.17 935.91 8.80 18.72 PATMI 388.95 893.44 130% 7.78 17.87 ASSETS 4,739.23 6,141.00 94.78 122.82 TOTAL EQUITY 3,820.24 4,776.11 76.40 95.52 # OF OUTSTANDING SHARES 1,233,404,000 1,227,154,400 TREASURY SHARES - NUMBER 16,596,000 22,845,600 TREASURY SHARES - COST mPHP 49,418.66 mPHP 112,545.51

2016A - full year 2017 3Q(9 months) RETURN ON EQUITY 10.91% 19.95% DEBT TO EQUITY 0.05 0.14 EARNINGS PER SHARE PHP 0.32 PHP 0.72 125% BOOK VALUE PER SHARE PHP 3.10 PHP 3.89 25% MARKET CAP (AS OF NOV 21, 2017) mPHP 27,856.40 PRICE PER SHARE (NOV 21, 2017) PHP 22.20 MacroAsia Corporation RETURN ON INVESTED CAPITAL (ROIC) RETURN ON CAPITAL EMPLOYED (ROCE)

ROIC = (Net Income - Dividends)/Capital Employed ROCE = EBIT/Capital Employed

September 30, 2017 (9 months, unaudited) a b c = a-b d e f = d+e g = c/f h i Net Income Dividends Total Loans Capital from SH Capital Employed ROIC EBIT ROCE Lufthansa Technik Phils (in USD) 31,206,964 31,206,964 6,850,000 40,000,000 46,850,000 67% 33,627,665 72% MacroAsia Catering (In PHP) 137,837,193 - 137,837,193 - 150,000,000 150,000,000 92% 196,011,707 131% MacroAsia Airport Services (In PHP) 53,688,163 - 53,688,163 90,144,441 127,776,666 217,921,107 25% 78,094,831 36% MAC Consolidated (In PHP) 935,908,356 - 935,908,356 679,391,394 1,531,437,118 2,210,828,512 42% 1,023,480,268 46% *Dividend from LTP already eliminated in the consolidated net income of MAC.

December 31, 2016 (full year, audited) a b c = a-b d e f = d+e g = c/f h i Net Income Dividends Total Loans Capital from SH Capital Employed ROIC EBIT ROCE Lufthansa Technik Phils (in USD) 21,375,383 - 21,375,383 10,450,000 40,000,000 50,450,000 42% 23,668,443 47% MacroAsia Catering (In PHP) 174,514,278 - 174,514,278 - 150,000,000 150,000,000 116% 276,560,716 184% MacroAsia Airport Services (In PHP) 46,182,110 - 46,182,110 37,363,213 127,776,666 165,139,879 28% 69,301,705 42% MAC Consolidated (In PHP) 440,167,563 - 440,167,563 189,219,171 1,531,437,118 1,720,656,289 26% 568,824,422 33% *Dividend from LTP already eliminated in the consolidated net income of MAC. BUSINESS SEGMENTS

Maintenance Meals Sold Manhours In USD Mostly In USD • MacroAsia Catering • Lufthansa Technik Maintenance, • Cebu Pacific Catering (associate, biggest Repair & Food Services (associate) MAC investment) Overhaul Flights Handled Meters Drilled • MacroAsia Airport Mostly In USD In Php Services Gateway • MacroAsia Mining • MacroAsia Air Mining • MacroAsia Corp. (MPSAs) Taxi Services Services

Cubic Meters SQM Leased • SNV Resources Sold In PHP Out In PHP • Boracay Property Tubi/Monad Water Utility • MacroAsia Properties • Naic Water Development MAC GROUP STRUCTURE MacroAsia Corporation (Publicly-listed Holding Company) Subsidiaries

MacroAsia Air Taxi MacroAsia Catering MacroAsia Airport MacroAsia Properties MacroAsia Mining Airport Specialists’ First Aviation Academy, Services, Inc. Services, Inc. Services Corporation Development Corp. Corporation Services Corporation Inc. (51%) (Catering) 67% (FBO & Charters) (Ground-handling) (Rental and Administrative) (Mining) (Manpower Support) (PTC Holdings Corp.) (SATS) 100% 100% 100% 100% 100%

MacroAsia SATS MacroAsia SATS MacroAsia WLL Inflight Catering Food Industries (Airline catering) (Non-airline Catering) Services 44% 100% (Arline Catering) 100%

Lufthansa Technik Watergy Business SNV Resources Boracay Tubi Naic Water Supply Mabini Pangasinan Phils. Solutions Inc. Development Corp. System, Inc. Corporation Resources Dev’t (MROl) - 49% (Water) 51% (Water Utility) (Water Utility) (Water Utility) Corp. (Lufthansa Technik AG- (MetroPac Water) 100% 67% 100% (Water Projects) 100% 51%) Associates Cebu Pacific Catering Services Cavite Business New Earth Water Monad Water & (In-flight catering)- 40% Sewerage Systems (Cathay Pacific Catering Resources, Inc. System, Inc. Services (HK) Ltd. - 40%; (Water Utility) (Water Projects) Inc. MGO Pacific - 20%) 100% 100% (Water Utility) 80%

9 HISTORICAL FINANCIAL PERFORMANCE

Consolidated Revenues and Net Income In MPHP 2,400 2,334

2,200 1,926 2,000

1,800 1,723 1,600 1,610 y = 96.805x - 193214 R² = 0.9553 1,600

1,362 1,400

1,158 1,200 1,122 1,044 1,015 968 1,000 809 722 800 667 608 624 y = 12.573x - 25073 600 511 R² = 0.1906 445 400 440 406 200 121 316 310 341 71 85 265 266 290

- 116 87 105 124 122 69 49 2 26 16 18 (200) (180) (161) (400) 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018

Total Revenues Net Income Linear (Total Revenues) Linear (Net Income) KEY DEVELOPMENT & BUSINESS DRIVERS

Change in President & CEO, from Dr. MRO: Lufthansa Technik Philippines Burkhard Andrich (from Feb 1, 2014) Manila to serve as base for LHT expansion in APAC to Elmar Lutter effective June 1, 2017 “Lufthansa Technik AG is filling important leadership positions to support its continued expansion in Asia Pacific (APAC). Following the successful restructuring of the local sales organization, the Aircraft Overhaul and Component Services divisions will now also be managed directly from the region. With Elmar Lutter, one of the company's most experienced top managers is taking over the Aircraft Overhaul division in Asia Pacific. He will assume his new position on 1 June and work from Manila in the Philippines.” Strong growth from PAL as a key client; LTP is the preferred line maintenance provider in the Philippines Robust growth in base maintenance clients. Utilization of hangars in 2018 is already assured. Clients include airlines not even having commercial flights to the Phils. because of LTP’s global reputation/track record. DEVELOPMENT OF INFLIGHT MEALS BUSINESS Food Services a) 2 airline catering facilities (NAIA in Manila and Cebu)

• NAIA catering facility is inside the airport in a 2-hectare lot ( competing with 1 other catering facility (Miascor Catering/GateGourmet)

• Cebu catering facility is the only airline kitchen in Mactan, Cebu

Plans: 1) PAL Kitchen takeover: 1H 2018 (will double NAIA business; immediately PAT-additive to MAC)

2) New kitchens in Cebu, Clark and Kalibo (greenfield projects) b) New commissary (PHP650M) operational by 1st half of 2018. Non-airline food business under MacroAsia SATS Food Industries will commence commercial activity by 1H 2018. (Modeled after Singapore Food Industries) KEY DEVELOPMENTS IN 2018 • Airline Catering: 1 new foreign airline client gained (for Feb 2018) • New Central Production Facility for Non-Airline Meals: By 1H 2018 • PAL Servicing • Miascor Issue? Gateway Services MacroAsia Airport Services Corp (MASCORP) Robust growth in ground-handling business. From 7 airport locations in 2016, the company is now in 27 airport locations in the Philippines as of December 2017.

By mid-2018, the company will be present in 30 airport locations in the country.

Still, MacroAsia is serving only 1/3 of PAL’s ground handling requirements in T2. The upside is to service all of PAL’s requirements by 1H 2018.

MIASCOR ISSUE IS A RECENT DEVT IN JAN 2018. KEY DEVELOPMENT & BUSINESS DRIVERS OPERATIONS HIGHLIGHTS GROUND HANDLING MASCORP's Total Flights Handled, Year on Year 100,000 90,000 80,000 70,000 60,000 50,000 40,000

30,000 Frequency of Flights of Frequency 20,000 10,000 - 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 No. of Flights 16,5 13,9 12,4 10,6 10,0 10,5 19,3 27,9 27,8 35,7 76,5 91,5 65,9 60,0 71,2 80,8 85,4

Note: 1 departure or arrival is counted as 1 flight KEY DEVELOPMENT & BUSINESS DRIVERS FREQUENCY OF FLIGHTS PER WEEK (2016 vs 2017) 97% growth in total flights handled in 2017! 2500 2091 2098 2134 2103 2063 2111 2058 1991 1976 2027 2040 2049 2029 2050 2000 1860

1500

1378 1371 1299 1312 1325 1323 1288 1285 1350 1000 1197 1263 1237 1240 1266 1257

500 Frequency of Flights Per Week Per Flights of Frequency

0 Week 32 Week 33 Week 34 Week 35 Week 34 Week 35 Week 36 Week 37 Week 38 Week 39 Week 40 Week 41 Week 42 Week 43 Week 44 2017 2091 2098 2134 2103 2063 2058 1991 1976 2027 2040 2111 2049 2029 2050 1860 2016 1197 1263 1237 1299 1240 1266 1312 1325 1323 1288 1378 1257 1285 1371 1350

19 KEY DEVELOPMENT & BUSINESS DRIVERS

OPERATIONS HIGHLIGHTS GROUND HANDLING – JAPAN AIRLINES

Japan Airlines Manila Station ranked as Number 1 Airport Station of Japan Airlines Worldwide FY2016 20 KEY DEVELOPMENT & BUSINESS DRIVERS

Water Concession a) Solano Water – started commercial operations in March 2016. It has now 2,400 accounts. Water from the Magat River is extracted and treated in a water treatment plant. Treated water is piped to households and commercial establishments. b) Boracay Island – Boracay Tubi, one of two water utility firms in Boracay Island was acquired (67%) by MacroAsia in December 2016. c) Naic Water – The sole water utility company with about 8,000 connections was acquired 100% by MacroAsia in August 2017. d) Ongoing projects with water rights/concessions: Maragondon, Cavite Bulk Water Project; Iloilo City; Tagum City.

21 3Q FINANCIAL HIGHLIGHTS

22 INCOME STATEMENTS For the quarter For the quarter For the quarter For the period ended For the year January - March April - June July - September September 30 ended December 31, 2017 2016 2017 2016 2017 2016 2017 2016 2016 NET SERVICE REVENUE In-flight and other 407.73 339.65 393.30 400.74 369.21 342.39 1,170.24 1,082.79 1,446.37 catering Ground handling and 201.15 167.14 259.10 165.81 275.21 166.54 735.47 499.49 678.77 aviation Rental and administrative 49.31 46.65 49.31 46.65 49.31 46.65 147.93 139.94 188.8 Charter flights - 2.07 - 9.00 - 3.24 - 14.31 11.78 Water 29.15 1.62 28.22 2.02 40.55 2.90 97.92 6.54 6.26 Exploratory drilling fees 4.88 - 10.21 2.99 9.27 - 24.37 2.99 2.99 692.23 557.13 740.14 627.20 743.56 561.72 2,175.92 1,746.05 2,334.96 DIRECT COSTS In-flight and other 259.68 207.18 252.84 268.66 240.62 226.74 753.13 702.58 916.87 catering Ground handling and 147.65 121.41 185.89 123.13 234.59 131.46 568.12 376.01 517.70 aviation Rental and administrative 45.50 43.07 45.95 44.14 47.24 62.90 138.69 150.12 177.28 Charter flights - 2.06 - 3.83 - 2.19 - 8.08 10.05 Water related expenses 22.40 - 24.38 6.33 31.84 5.26 78.62 11.6 19.08 Exploratory drilling 5.21 5.83 7.23 5.35 6.85 4.01 19.29 15.19 19.53 expense 480.44 379.56 516.29 451.45 561.13 432.57 1,557.86 1,263.58 1,660.51 GROSS PROFIT 211.79 177.57 223.86 175.75 182.42 129.15 618.07 482.47 674.45 INCOME STATEMENTS For the period For the year For the quarter For the quarter For the quarter ended ended January - March April - June July - September September 30 December 31, 2017 2016 2017 2016 2017 2016 2017 2016 2016 GROSS PROFIT 211.79 177.57 223.86 175.75 182.42 129.15 618.07 482.47 674.45 SHARE IN NET EARNINGS OF 264.28 73.20 312.04 94.39 224.29 102.19 800.61 269.77 532.43 ASSOCIATES 476.07 250.77 535.89 270.14 406.71 231.33 1,418.68 752.25 1,206.88 OPERATING EXPENSES (160.10) (121.50) (123.60) (120.60) (122.10) (93.20) (405.70) (335.40) (713.20) INTEREST INCOME 0.80 1.87 0.68 1.11 2.42 1.33 3.90 4.31 7.01 FINANCING CHARGES (1.70) (0.70) (1.70) (0.60) (2.00) (0.50) (5.30) (1.90) (3.30) OTHER INCOME - net 11.55 5.45 0.06 1.15 (1.10) 4.36 10.55 10.96 75.14 INCOME BEFORE 326.68 135.89 411.38 151.18 284.01 143.23 1,022.07 430.30 572.54 INCOME TAX PROVISION FOR INCOME 26.08 26.48 39.14 24.91 20.95 18.49 86.16 69.88 132.37 TAX NET INCOME 300.61 109.40 372.24 126.27 263.06 124.74 935.91 360.42 440.17 Attributable to: Equity holders of the 278.22 94.97 363.14 115.69 252.09 115.56 893.44 326.22 388.95 Company Non-controlling interest 22.39 14.43 9.10 10.57 10.97 9.19 42.46 34.19 51.21 300.61 109.40 372.24 126.27 263.06 124.74 935.91 360.42 440.17 Basic/Diluted Earnings Per Share 0.23 0.08 0.29 0.09 0.21 0.09 0.73 0.26 0.32 BALANCE SHEET Unaudited Audited Increase/ % September 30, December 31, (Decrease) Change 2017 2016 Cash and cash equivalents ASSETS ➢ Cash dividends from LTP Current Assets amounting to Php 388.68m Cash and cash equivalents 1,007.63 559.69 447.94 80% was received in March (49% Receivables 741.80 575.97 165.83 29% of USD15m) Inventories 57.74 51.93 5.80 11% Input taxes and other current assets 144.73 112.62 32.11 29% Total Current Assets 1,951.9 1,300.21 651.69 50% ➢ Dividends to MAC shareholders amounting to Noncurrent Assets Available-for-sale (AFS) investments 106.83 106.83 - 0% Php98.6m was paid before Investments in associates 2,058.51 1,51.17 517.34 34% Feb.1, 2017 Property, plant and equipment 850.2 786.61 63.59 8% Investment property 149.97 143.85 6.12 4% Deposits and other noncurrent Service concession right 299.19 310.11 -10.92 -4% assets Accrued rental receivable 116.41 116.11 .30 0% Deferred mine exploration costs 20.42 20.42 - 0% ➢ Increase in other noncurrent Deferred income tax assets - net 28.18 22.29 5.88 26% assets arising from the Goodwill 167.53 167.53 - 0% acquisition of NAWASCOR Deposits and other noncurrent assets 391.87 224.09 167.78 75% amounting to Php115.56m Total Noncurrent Assets 4,189.11 3,439.02 750.09 22% TOTAL ASSETS 6,141.01 4,739.23 1,401.77 30% BALANCE SHEET Unaudited Audited Increase/ % September 30, December 31, (Decrease) Change 2017 2016 Accounts payable and LIABILITIES AND EQUITY accrued liabilities Current Liabilities ➢Increase was mainly due to Accounts payable and accrued purchases/expenses used in liabilities 445.47 377.89 67.58 18% MACS and MASC operations Income tax payable 32.35 35.49 -3.14 -9% -92% Dividends payable 8.62 107.29 -98.67 Dividends payable Notes payable - current portion 272.12 169.10 103.02 61% ➢Remaining amount Total Current Liabilities 758.55 689.78 68.78 10% pertains to dividends Noncurrent Liabilities Notes payable - net of current payable to shareholders portion 407.28 20.12 387.16 1924% Accrued rental payable 135.41 134.23 1.18 1% Notes payable Accrued retirement benefits payable 4.05 10.95 -6.9 -63% ➢New loans were drawn: Other employee benefits 3.73 11.60 -7.87 -68% MSFI - Php400M Deferred income tax liabilities 36.58 36.23 .35 1% BTSI – Php37.55M Other noncurrent liabilities 19.29 16.09 3.21 20% MASCORP – Php65.41M Total Noncurrent Liabilities 606.33 229.21 377.12 165% Total Liabilities 1,364.89 918.99 445.9 49% BALANCE SHEET

Unaudited Audited Increase/ % September 30, 2017 December 31, 2016 (Decrease) Change

Equity attributable to equity holders of the Company Capital stock - 1 par value: 1,250.00 1,250.00 - 0% Additional paid-in capital 281.44 281.44 - 0% Other reserves 143.30 143.30 0.44 0% Other components of equity 21.21 -61.88 83.09 -134% Retained earnings: Appropriated 983.10 983.10 - 0% Unappropriated 1,910.92 1,017.48 893.44 88% Treasury shares – 22,845,600 shares at cost -112.55 -49.42 -63.13 128% 4,477.42 3,564.01 913.41 26% Non-controlling interests 298.70 256.23 42.46 17% Total Equity 4,776.12 3,820.24 955.87 25% TOTAL LIABILITIES AND EQUITY 6,141.01 4,739.23 1,401.77 30% MAC FINANCIAL RATIOS (3Q 2017 vs 3Q 2016

For the period ended September 30

Ratios 2017 2016 Current Ratio 2.57 2.95 Debt to Equity 0.14 0.01 Earnings per Share (9 months) 0.72 0.26 Book Value per Share 3.89 2.73 Market Price 15.18 2.32 Price to Book 3.90 0.85 Price Earnings Ratio 20.95 8.77 SHARE BUYBACK PROGRAM SHARE BUY-BACK PROGRAM

As of September 30, 2017

Number of Shares Purchased In 2017 6,249,600

Total Amount Appropriated for the Php 210M Buy-Back Program Total Value of Shares Repurchased Php 64M

Total Issued Shares 1,250,000,000

Outstanding Shares 1,227,154,400

Treasury Shares 22,845,600 RETURN TO SHAREHOLDERS

RETURN TO SHAREHOLDERS:

1. Continuing dividend track record

2. Solid reputation

3. Increasing market / appreciation

Par value of MAC Share Php 1.00 December 31, 2016 Stock Price Php 2.41

More than 800% appreciation from December 31, 2016

December 2017 dividend declaration: PHP0.14/share PERFORMANCE TARGET:

BOTTOMLINE GROWTH OF 20% EACH YEAR. JAN - DEC 2017 FORECAST EARNINGS Breakdown 2017 - F 2017 FORECASTED EARNINGS BREAKDOWN In-flight and other catering services 291,376 Ground handling and aviation 167,499 In-flight and other catering services Rental and administrative services (36,285) FBO/Charter flights service 1,043 20% Ground handling and aviation Water operations 14,121 Mining (3,272) Rental and administrative services Share in net income of associates 938,757 FBO/Charter flights service Total segment results 1,373,240 12% Other income and expenses (91,163) Water operations Provision for income tax (164,916) 65% -2% Consolidated net income 1,117,161 0% Mining 1% 0% Consolidated net income - 2016 440,168 Share in net income of associates EPS 0.32

Increase 676,993 % Growth 154%

2017 - F NIAT 1,117,161 Depreciation 31,903 Interest expense 5,262 Taxes 164,916 OUR 2017 TARGET EBITDA 1,319,242 EPS 1.07

Outstanding Shares as of July 13 1,232,454,500 32 SUSTAINABILITY & GROWTH: ONGOING EXPANSION PROJECTS • PAL SERVICING ✓ Ground handling and catering : 1H2018 • FOOD SERVICES • GROUND HANDLING ✓ MAC SATS Food Industries : 1H2018 Airport ✓ 1 Airline Client : Feb 2018 • MACTAN, CEBU PROJECTS 1 Siargao : Dec 1, 2017 ✓ Cargo Facility : 2H 2019 2 Camiguin : Dec 1, 2017 ✓ Aircraft Parking : 2H 2018 ✓ LTP New Hangar : 1H 2019 3 M. R. Espinosa Airport (Masbate) : Dec 1, 2017 • PILOT SCHOOL / AVIATION TRAINING 4 Virac, Catanduanes : Dec 16, 2017 ✓ JV with PTC : 1H 2018 5 Sibulan Airport (Dumaguete) : Feb 2018 • BORACAY TUBI WATER PROJECTS 6 Labo Airport/ (Ozamiz) : Feb 2018 ✓ Boracay expansion : 1H2018 ✓ Iloilo Concession Facility : 2H2018 7 Tagbilaran Airport (Bohol) : Feb 2018 ✓ Davao Water Concession : 2H2019 • CAVITE WATER PROJECTS ✓ Maragondon Bulk Water : 2H2018 • Mining Projects: Infanta Nickel Project and others MINING ASSETS OF MAC GROUP Active Mining Tenements Location Area (hectares) Mineral Commodities Status Company Date Filed EXPA No. Remarks Carigara and 7771.8600 Cu, Au and other Active EXPA MAC-Mining 19-Oct-07 0091-VIII- Capoocan, Leyte associated minerals 2007 Baybay and Javier, 7488.5227 Cu, Au and other Active EXPA MAC-Mining 19-Oct-07 0092-VIII- Leyte associated minerals 2007 Pintuyan and San 1574.2200 Cu, Au and other Active EXPA MAC 19-Oct-07 0093-VIII- Ricardo, Leyte associated minerals 2007 (Panaon Island) Date Location Area (hectares) Mineral Commodities Status Company MPSA No. Remarks Approved Brooke's Point, 1113.98 Nickel and Other Active MPSA MAC 01-Dec-05 220-2005-IVB ECC under renewal, NCIP Palawan Associated minerals appealed to Supreme Court on decision of CA Brooke's Point, 410 Cr and other Associated Active MPSA MAC 01-Dec-05 221-2005-IVB Order of Survey under Request Palawan minerals Date Location Area (hectares) Mineral Commodities Status Company EXPA No. Remarks Approved Sipalay & Hinoba-an 505.7196 Gold, Cu Operating PNB 04-Jan-89 MCL- MRD- Application for Production Negros Occidental Agreement BUMICO 510 Sharing Agreement (APSA) with PGPI should be filed on or before Jan 4, 2012 as permit will expire on Jan. 4, 2014 Sipalay & Hinoba-an 4381.5800 Cu, Au and other Operating PNB 09-Jul-10 08-2010-VI Philex is co-applicant. DOA to Negros Occidental associated minerals Agreement BUMICO MAC on September 6, 2012 with PGPI Basay, Negros Oriental 506.0565 Cu, Ag, Au, and Deed of PNB Approved 000103-VII Molybdenum Assignment BUMICO by MGBVII Transferred to MAC on August to MAC 28 January 15, 2012 2013 Sipalay & Hinoba-an 4805.0000 Cu, Au and other Operating PNB- 000100-VI under application for EP by Negros Occidental associated minerals Agreement Madecor Philex with PGPI Palawan Mineral Production Sharing Agreements

MPSA 220-2005-IVB (red) – Infanta Nickel Project

MPSA 221-2005-IVB (blue) Infanta Nickel Resource Estimate @ 0.9% Ni Cut-Off Grade

Category LITHOLOGY TONNAGE GRADE-NI GRADE- FE

MEA ORE LIM 4,038,360.81 1.14 48.87 MEA ORE SAP 2,195,677.97 1.21 40.61 MEA ORE RSAP 6,319,803.53 1.33 18.97 Sub-Total 12,553,842.31 1.25 32.37

IND ORE LIM 7,263,043.07 1.07 47.54 IND ORE SAP 2,998,416.22 1.10 39.18 IND ORE RSAP 19,267,826.73 1.17 15.69 Sub-Total 29,529,286.02 1.14 25.91

INF ORE LIM 968,835.94 1.04 47.97 INF ORE SAP 541,066.42 1.11 38.42 INF ORE RSAP 1,802,621.65 1.07 14.76 Sub-Total 3,312,524.02 1.07 28.34

TOTAL 45,395,652.35 1.16 27.87 Negros EXPA-000103-VII -Basay (red box) Leyte

EXPA-000091-VII EXPA-000092-VII EXPA-000093-VII RELATED NEWS ARTICLES

40 Lufthansa Technik eyes Asia-Pacific narrowbody growth

• 02 NOVEMBER, 2017 •SOURCE: FLIGHT DASHBOARD• BY: AARON CHONG • SINGAPORE

Lufthansa Technik is exploring the possibility of another base maintenance facility in the Asia-Pacific, to take advantage of growing narrowbody MRO demand.

Speaking to FlightGlobal at the MRO Asia-Pacific conference in Singapore, Gerald Steinhoff, senior vice president of corporate sales in Asia-Pacific, says that LHT's Philippines unit "is very full" and that the company needs more capacity "especially on the narrowbody side.“

On the additional capacity, Steinhoff says LHT has had "very fruitful talks with potential partners, who are looking at MRO work with around 600,000 man hours a year".

He explains that this translates into having "a few maintenance lines" – a challenge that LHT "is confident" of filling up.

"It helps to have a partner who brings a certain base load with them," he adds.

Should the new base maintenance facility be established in Asia-Pacific, it will add to LHT's seven other such facilities worldwide, which are centrally controlled in LHT's headquarters in Hamburg.

"We believe that the secret to future success is being close to the customer.“

Steinhoff adds that LHT saw 23% revenue growth from Asia-Pacific in 2016. It expects another year of double digit growth in 2017.

"We are currently on a path of extending our market position, and are looking at both organic and inorganic growth. We still have market demand from customers that want more from us, but we cannot serve them (due to lack of capacity). LHT Foresees Good Flow Of A380 Base Maintenance Work In The Philippines

•29 AUGUST, 2017 •SOURCE: MRO-NETWORK.COM •BY: JAMES POZZI

Lufthansa Technik expects general demand for A380 base maintenance services to remain high in the next few years at its two overhaul lines at its Asia-Pacific subsidiary.

At Manila-based Lufthansa Technik Philippines, where it has carried out a mix of in-house and third-party base maintenance on the superjumbo since 2012, it also holds overhaul capabilities for other Airbus jets including the A320, A330, A340 and Boeing’s 777.

“Several European and Asian airlines are regularly getting their A380 overhauled at Lufthansa Technik Philippines,” says Thomas Rueckert, Vice President of base maintenance services at Lufthansa Technik.

These include Australian airline Qantas, which Rueckart says remains a customer five years after having being the first third-party customer at the facility.

MRO demand for the A380 is expected to be strong in Asia-Pacific up until 2026, with a projected demand of $2.2 billion according to Aviation Week’s Fleet & MRO Forecast 2017.

Predicting some of the new repair demands of the next few years on the A380, Rueckert foresees modifications work as being a particular sweet spot for aftermarket providers such as Lufthansa Technik Philippines. “In addition to maintenance checks, there will also be additions to various structural modifications and extensive refurbishments of the complete aircraft cabin,” he says. Lufthansa Technik PH eyes expansion •24 JULY, 2017 •SOURCE: THE MANILA TIMES •BY: ANGELICA BALLESTEROS • PHILIPPINES

LUCIO Tan-led Lufthansa Technik Philippines (LTP) plans to he added. expand its services in the Philippines particularly in Clark, Pampanga and Cebu City. He added that Lufthansa is planning to locate its headquarters here in the Philippines for its Asian market. In a press briefing late Friday, LTP President Elmar Lutter said the company has started evaluating a possible expansion. “We also commit [that]the Philippines will be our headquarters for the Asian market [and]we also contemplate to grow our “Our growth is limited in NAIA [Ninoy Aquino International footprint. We also look at other possibilities in Southeast Asia Airport], a very confined space now … so we have to look at but the Philippines will be our headquarters, and once we have expansion possibilities and we will look at other locations like Clark another satellite here, we will also start with other services,” he or Cebu to build a facility,” Lutter said. said.

“It’s not final yet but the market development is very positive,” he The company just recently established its own worldwide added. contact center in the Philippines, which will cater to customers worldwide. The company is evaluating whether to include maintenance, repair and overhaul (MRO) services or others in its planned Cebu “Business process outsourcing, we have a company… and they and Clark expansion. have services in Alabang. Couple of hundred of employees have just started. That’s one of, I think, four of our worldwide service “Yes, we are looking at MRO but it’s too early to say in which. I centers while we actually share business transactions for the cannot give you an estimate right now because it depends on the whole Lufthansa group,” Lutter said. market evaluation,” he said. LTP is a joint venture project of Lufthansa Technik AG and “We have just started the evaluation seriously and once we decide Philippine aviation service provider MacroAsia Corp. It offers a and bring it forward…we would need one-and-a-half years to wide range of aircraft MRO services to its customers open operations. We are starting now to seriously evaluate that,” worldwide. MAC INVESTOR RELATIONS CONTACTS Amador T. Sendin CFO Email: [email protected]

Gladys Lorraine P. Salamatin Financial Accountant Email: [email protected]

MacroAsia Corporation 12th Floor PNB Allied Bank Center 6754 Ayala Avenue, Makati City, 1226 Philippines Tel No. (+63 2) 840 2001 www.macroasiacorp.com