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Date of Correspondence

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Date of Correspondence Ayala Corporation Makati Central PO Box 1444 Makati City 1254 Philippines Tel (632) 848 5643 Fax (632) 848 5768 16 January 2017 www.ayala.com.ph Philippine Stock Exchange 3/F, The Philippine Stock Exchange, Inc. Tower One and Exchange Plaza, Ayala Ave., Makati City Attention: Mr. Jose Valeriano B. Zuño III OIC-Head, Disclosure Department Philippine Dealing & Exchange Corporation 6766 Ayala Avenue corner Paseo de Roxas Makati City Attention: Ms. Vina Vanessa S. Salonga Head, Issuer Compliance and Disclosure Department Subject: Report on the Top 100 Shareholders Gentlemen: This is in connection with the Exchange’s Revised Disclosure Rules requiring Ayala Corporation to submit a report on the Top 100 Shareholders of the Company. In compliance therewith, we are submitting herewith the list of the Top 100 Shareholders of the Company’s Preferred “B” Series 2 shares for the Quarter-Ending 31 December 2016. Thank you. Very truly yours, SOLOMON M. HERMOSURA Corporate Secretary and General Counsel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