13 July 2020

Philippine Stock Exchange 6/F, PSE Tower 5th Avenue corner 28th Street, Bonifacio Global City, Taguig City

Attention: Ms. Janet A. Encarnacion Head, Disclosure Department

Philippine Dealing & Exchange Corp. 29th Floor, BDO Equitable Tower 8751 Paseo de Roxas, City 1226

Attention: Atty. Marie Rose M. Magallen-Lirio 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 Land, Inc. to submit a report on the Top 100 Shareholders of the Company.

In compliance therewith, we are submitting herewith a list of the Company’s Top 100 Shareholders for the quarter-ending June 2020.

Thank you.

Very truly yours,

Michelle Marie T. Valbuena Senior Compliance Manager Office of the Corporate Secretary BPI STOCK TRANSFER OFFICE AYALA LAND, INC. TOP 100 STOCKHOLDERS AS OF JUNE 30, 2020

RANK STOCKHOLDER NAME OUTSTANDING SHARES PERCENTAGE TOTAL 1 6,545,946,579 44.4831% 6,545,946,579

2 PCD30TH NOMINEE FLR. AYALA CORPORATION TOWER ONE &(NON-FILIPINO) 5,634,203,234 38.2874% 5,634,203,234

3 PCDG/FEXCHANGE MKSENOMINEE BLDG. PLAZA, CORPORATION AYALA AYALA AVE., TRIANGLE (FILIPINO) 2,248,691,852 15.2810% 2,248,691,852

4 ESOWNG/FMAKATIAYALA MSE AVE., ADMINISTRATORCITY BLDG., MAKATI CITY 2012 13,685,969 0.0930% 13,685,969

5 ESOWNC/OAYALAATTENTION: ALI AVE., ESOWNADMINISTRATOR MAKATITREASURY ADMINISTRATOR CITY DIVISION 2010 12,828,881 0.0871% 12,828,881

6 ESOWNC/O ALI ESOWNADMINISTRATOR ADMINISTRATOR 2015 12,793,419 0.0869% 12,793,419

7 ESOWNC/O MS. ADMINISTRATORFELICIA CARVAJAL- 2016 ESOP/ESOWN ADMIN. 11,711,440 0.0795% 11,711,440

8 ESOWNC/O34F TOWERMS. ADMINISTRATORFELICIA ONE, M. AYALA CARVAJAL, TRIANGLE 2013 ESOWN ADMINISTRATOR, 10,989,766 0.0746% 10,989,766

9 ESOWNC/O34FAYALA TOWERMS. AVENUE, ADMINISTRATORFELICIA ONE, MAKATICARVAJAL- AYALA TRIANGLE,CITY 2019 ESOWN 1226 ADMIN. 10,067,965 0.0684% 10,067,965

10 ESOWNC/OTOWERAYALA MS. AVENUE, 1 ADMINISTRATOREMILY & EXCHANGE GUINTO, MAKATI PLAZA, ESOWNCITY 2017 1226 AYALA ADMINISTRATOR, TRIANGLE, 9,872,469 0.0670% 9,872,469

11 ESOWNC/O34FAYALA TOWERMS. AVENUE, ADMINISTRATORFELICIA ONE, MAKATIM. AYALA CARVAJAL, TRIANGLE,CITY 2011 ESOWN MAKATI ADMINISTRATOR, CITY 9,859,663 0.0670% 9,859,663

12 ESOWNC/O34F TOWERALI ESOP/ESOWNADMINISTRATOR ONE, AYALA ADMINISTRATOR TRIANGLE, 2014 9,664,717 0.0656% 9,664,717

13 ANTONINOC/O34FAYALA TOWERMS. AVENUE, FELICIA T.ONE, AQUINO MAKATICARVAJAL-ESOWN AYALA TRIANGLECITY 1226 ADMIN. TOWER 1 & 8,973,208 0.0609% 8,973,208

14 ESOWN#31EXCHANGEAYALA F. FORDHAMAVENUE ADMINISTRATOR PLAZA, MAKATI ST., AYALA WHITE CITY 2018TRIANGLE, PLAINS1226 AYALA AVENUE, 8,247,901 0.0560% 8,247,901

15 EMILIOC/OQUEZONMAKATI MS. LOLITO CITY FELICIACITY J. M. TUMBOCON CARVAJAL, ESOWN ADMINISTRATOR, 7,340,134 0.0498% 7,340,134

16 VINCENT10734F TOWERBURGOS Y. TANONE, ST., AYALAAYALA SOUTHVALETRIANGLE, VILLAGE, MOLINO 5,969,832 0.0405% 5,969,832

17 ESTRELLITAC/OBACOOR,AYALA AYALA AVENUE, CAVITE LAND,B. YULO MAKATI 4102 INC., 31/F CITY 1226 5,732,823 0.0389% 5,732,823

18 JOSE19TOWER KAWAYAN LUIS ONE GERARDO BLDG.,AYALA ROAD FORBES YULO TRIANGLE PARK 5,162,624 0.0350% 5,162,624

19 MA.52MAKATIAYALA ARGUILLA ANGELA AVENUE, CITY Y.STREET, LA MAKATI O' SAN CITY LORENZO VILLAGE, 3,728,620 0.0253% 3,728,620

20 LUCIO#5MAKATI JUAN W. CITYLUNA YAN 1223 ST., SAN LORENZO VILLAGE, 3,483,871 0.0236% 3,483,871

21 TELENGTAN537MAKATI LAFAYETTE CITY BROTHERS 1223 ST., GREENHILLS & SONS INC. 3,480,000 0.0236% 3,480,000

22 MA.KILOMETEREAST, LOURDES MANDALUYONG 14, G. SOUTH LATONIO CITY 3,124,650 0.0212% 3,124,650

23 JOSE122SUPERHIGHWAY GUAVA RAMON DRIVE, ABREU BRGY AYALA YULO MERVILLE, ALABANG AND/OR ELVIRA LIBORO YULO 2,035,300 0.0138% 2,035,300

24 ARTUROUNITVILLAGE,PARANAQUE A1903 G. CORPUZTHREE CITY SALCEDO CITY PLACE CONDOMINIUM 2,028,819 0.0137% 2,028,819

25 MAKATI67TORDESILLAS SARIMANOK SUPERMARKET ST., ST., SALCEDO MIRA-NILA CORPORATION VILLAGE, MAKATI CITY 1227 1,943,758 0.0132% 1,943,758

26 RAMON2/FHOMES ODC QUEZONF.R.INTERNATIONAL MEDINA CITY PLAZA 1,883,216 0.0127% 1,883,216

27 ROBERT211CONDOMINIUM SAN G.RAFAEL ONG 219COR SALCEDO SAN ENRIQUE ST., STS. 1,878,644 0.0127% 1,878,644

28 CHI33AYALALEGASPI DUHAT HUNG ALABANG VILLAGE ST.,HUI VALLE VILLAGEMAKATI VERDE CITY I, 1,762,100 0.0119% 1,762,100

29 RAMON632PASIG,ALABANG, SEAFRONT METRO C. MUNTINLUPA SY JR. MANILAGARDEN CITY 1780 1,664,304 0.0113% 1,664,304

30 BERNARD#5ROXAS HARMONY BOULEVARD VINCENT ST., GRACE O. DY 1,651,793 0.0112% 1,651,793

31 DANTE29/FVILLAGE,PASAY AYALA CITYM. QUEZON ABANDO TOWERO CITY ONE, AYALA AVENUE, MAKATI CITY 1,613,280 0.0109% 1,613,280

32 MA.34 RYDER ELENA LOOP YULO AYALA LORENZO HILLSIDE ESTATES 1,399,557 0.0095% 1,399,557

33 PHILIPPINECARMELRAYBALARA, QUEZON REMNANTS INDUSTRIAL CITY COMPANY, CORPORATION INC. 1,238,551 0.0084% 1,238,551

34 LUCIO2135-A7/F RUFINO YANPASONG PLAZA, TAMO 6784 MAKATI AYALA AVENUE, MAKATI CITY 1,200,000 0.0081% 1,200,000

35 RICHMOND537 LAFAYETTE C. SY STREET, 1,066,788 0.0072% 1,066,788

36 EDDIE#5GREENHILLS HARMONY HAO EAST, ST., GRACEMANDALUYONG VILLAGE CITY 1,021,661 0.0069% 1,021,661

37 ANTONINORM.QUEZON 804 FEDERALCITY T. AQUINO TOWER, 874,800 0.0059% 874,800

#31DASMARINAS FORDHAM ST., STREET BINONDO, Page 1 of 3 WHITEMANILA PLAINS, QUEZON CITY BPI STOCK TRANSFER OFFICE AYALA LAND, INC. TOP 100 STOCKHOLDERS AS OF JUNE 30, 2020

RANK STOCKHOLDER NAME OUTSTANDING SHARES PERCENTAGE TOTAL

38 JORGE MANUEL B. YULO 825,716 0.0056% 825,716

39 JOSE19 KAWAYAN EMMANUEL ROAD H. FORBESJALANDONI PARK 818,782 0.0055% 818,782

40 GONZALO116MAKATI CAMELLA CITY PUYAT ST., & SONS, INC. 810,292 0.0055% 810,292

41 ANTONINO4THAYALA FLOOR, ALABANG AQUINOENZO VILLAGE, BUILDING, 399 807,130 0.0054% 807,130

42 LUIS31SEN.MUNTINLUPA FORDHAM, A.GIL YULO PUYAT CITYWHITE AVENUE, PLAINS MAKATI 772,100 0.0052% 772,100

43 ESOWNC/OQUEZON CECILIA ADMINISTRATOR CITY J. YULO, SPECIAL 2008 CO-ADMINISTRATRIX, 761,061 0.0051% 761,061

44 NIMFAC/O1183 ALI PENAFRANCIA, ZAMORA ESOWN ADMINISTRATOR YULO PACO, AND/OR JUAN 1007 BERNARDO ZAMORA 754,940 0.0051% 754,940 YULO

45 JUAN4B PACIFIC BERNARDO PLAZA ZAMORACONDOMINIUMS YULO APARTMENT RIDGE ROW 752,465 0.0051% 752,465

46 SUNNYVALE4BAYALA PACIFIC AVENUE PLAZA DEVELOPMENT BARANGAY CONDOMINIUMS URDANETA CORP. APARTMENT RIDGE ROW 729,924 0.0049% 729,924

MAKATI CITY 47 TOMASP.O.AYALA BOX AVENUE C. 2013 KAWPENG MAKATI BARANGAY CENTRAL URDANETA 715,900 0.0048% 715,900

48 HUI562POSTMAKATI CHIHOLY OFFICE HUNGCITY CROSS 1260 ST., MAKATI GREENHILLS CITY EAST, 700,000 0.0047% 700,000

49 PANUNITMANDALUYONG MALAYAN 632 SEAFRONT MANAGEMENT CITY GARDEN ROXAS AND INVESTMENT BLVD PASAY CITYCORP. 667,124 0.0045% 667,124

50 DANIEL48/F YUCHENGCO CHUA WOO TOWER, KAWPENG RCBC PLAZA 656,187 0.0044% 656,187

50 CHRISTOPHER5626819 HOLY AYALA CROSS AVE., CHUA STREET, MAKATI WOO GREENHILLS KAWPENGCITY EAST, 656,187 0.0044% 656,187

50 EDWIN562MANDALUYONG HOLY CHUA CROSS WOO CITYSTREET, KAWPENG GREENHILLS EAST, 656,187 0.0044% 656,187

50 DAVID562MANDALUYONG HOLY CHUA CROSS WOO CITYSTREET, KAWPENG GREENHILLS EAST, 656,187 0.0044% 656,187

51 JOSEPH562MANDALUYONG HOLY V. CROSS MENDOZA CITYSTREET, GREENHILLS EAST, 654,480 0.0044% 654,480

52 RICKY95MANDALUYONG VISAYAS M. CELIS STREET CITY 619,200 0.0042% 619,200

53 WONG3FAYALA PACIFIC ALABANGKING STAR LUN LOW-RISE VILLAGE BUILDING, SEN GIL PUYAT 612,480 0.0041% 612,480

54 LIM768AVE.MUNTINLUPA T.TAY COR SANTIAGO MAKATI CITY ST. AVE., LINGUNAN, MAKATI CITY 1200 589,680 0.0040% 589,680

55 ERLYNN6409VALENZUELA, CAMIA B. CAMPOS ST., M.M. MAKATI AND/OR JOSE K. CAMPOS JR. 560,188 0.0038% 560,188

56 JOSEPHINE24 KINGFISHER NG STREET,LO GREENMEADOWS SUBD., 553,309 0.0037% 553,309

57 EDDIEP.O.BRGY. BOX UGONG HAO 2013 NORTE,MAKATI QUEZONCENTRAL CITY 1110 548,640 0.0037% 548,640

58 ALBERTORMPOST 804 OFFICE FEDERAL G. MENDOZA1260 TOWER MAKATI AND/OR BLDG. CITY JEANIE MENDOZA 527,648 0.0035% 527,648

59 JOSEPHINE1145DASMARINAS AGUILAR T. ST,CHUA ST., BINONDO, MANILA MANILA 526,040 0.0035% 526,040

60 JUAN5/F BLOOMINGDALE MIGUEL V. YULO BUILDING,205 521,106 0.0035% 521,106

61 RAMON4BSALCEDO PACIFIC MIGUEL ST., PLAZA LEGASPI ZAMORA CONDOMINIUMS MAKATI, YULO APARTMENT RIDGE ROW 513,372 0.0034% 513,372

62 PACITAUNITAYALAMETRO 4B AVENUE L.MANILA PACIFIC TAN AND/OR BARANGAY PLAZA COND. EDWIN URDANETA FRANCIS L. TAN 504,000 0.0034% 504,000

62 PACITA704-AAPARTMENTMAKATI ESCOLTA L. CITY TAN RITZ AND/OR TWIN ROAD TOWER, ERICST. COR RUBEN AYALA L. TAN AVE. 504,000 0.0034% 504,000

63 FELIMON704-AESCOLTA,MAKATI ESCOLTA CITY CHANMANILA TWIN TE TOWER, 480,025 0.0032% 480,025

64 CONCEPCION30ESCOLTA, CHITO ST.,STA. G.VALLE CRUZ, VILLAR VERDE MANILA I 461,697 0.0031% 461,697

65 ESOWN3423PASIG, GUERNICA METRO ADMINISTRATOR MANILA STREET MAKATI, 2009 444,175 0.0030% 444,175

66 EDWINC/OMETRO MS. FRANCISMANILA FELICIA CARVAJAL-L. TAN ESOWN ADMIN. 444,000 0.0030% 444,000

66 ERIC704-ATOWER RUBEN ESCOLTA 1 & EXCHANGEL. TAN TWIN TOWER PLAZA, AYALA TRIANGLE, 444,000 0.0030% 444,000

67 O.704-AESCOLTA,AYALA LEDESMA ESCOLTA AVENUE, MANILA & CO. TWIN MAKATI INC. TOWER CITY 437,805 0.0029% 437,805

68 ELPIDIORM.ESCOLTA, 203 LEDESMADUCA MANILA BLDG. REAL 432,000 0.0029% 432,000

COR. GEN, LUNA ST., 26 TIMES ST., WEST TRIANGLE Page 2 of 3 QUEZONINTRAMUROS, CITY BPI STOCK TRANSFER OFFICE AYALA LAND, INC. TOP 100 STOCKHOLDERS AS OF JUNE 30, 2020

RANK STOCKHOLDER NAME OUTSTANDING SHARES PERCENTAGE TOTAL

68 AMERICAN WIRE & CABLE CO., INC 432,000 0.0029% 432,000

69 M.E.2135 HOLDINGSPASONG TAMO CORPORATION STREET 396,832 0.0026% 396,832

70 JETHANAND28MAKATI SHAW CITY BLVD., R. DASWANI PASIG, MM 393,657 0.0026% 393,657

71 ANTONIO19-B=HOLD PACIFIC RTS= C. OPPEN PLAZA, AYALA 391,507 0.0026% 391,507

72 CYNTHIACARTIMARAVE. MAKATI, D. ADMINISTRATION, CHING MM 389,448 0.0026% 389,448

73 ANTONIOC/OPASAY LA CITYSUERTE BERNAS CIGAR & 388,800 0.0026% 388,800

74 JULIO103CIGARETTE NEPTUNE JALANDONI FACTORY ST., BELAND/OR KM. AIR 14 SYLVIA JALANDONI 388,000 0.0026% 388,000

75 THEPDCPMAKATISOUTH ROMAN BANK SUPER CITY CENTRE, CATHOLIC HIGHWAY, 9B ARCHBISHOP COR PARANAQUE OF CITY MLA. 373,740 0.0025% 373,740

76 MOTORTRADE121HERRERA ARZOBISPO & ALFARO NATIONWIDE ST., STS. SALCEDO CORP. 370,440 0.0025% 370,440

77 JAMESROOMINTRAMUROS,VILLAGE, 2005GO MAKATI GALLERIA MANILA CITY CORPORATE 368,000 0.0025% 368,000

78 YOUNG2/FCENTER, BING EDSA, CHUA QUEZON DOENTOWN CITY CTR 364,497 0.0024% 364,497

78 BERNARDITO34TYTANA BARRETO BLDG., ST., U. BINONDO, CHUOLONGAPO MANILA CITY 364,497 0.0024% 364,497

78 UNIVERSITY1547 LEON GUINTO OF SANTO ST., TOMAS ERMITA, 364,497 0.0024% 364,497

79 FILEMONTREASURER'SMANILA T. BERBA OFFICE JR. 360,326 0.0024% 360,326

80 TIONG82/F GARDENIA MAIN KENG BLDG., DRIVECHING ESPANA, 360,288 0.0024% 360,288

81 ELENAC/OBEVERLYSAMPALOC, LA SUERTELAO HILLS MANILA SUBD.CIGAR & 360,000 0.0024% 360,000

82 TERESITA48-50CIGARETTEANTIPOLO, MAGSAYSAY B. RIZALFACTORY CHOA AVENUE KM. 14 SOU 358,560 0.0024% 358,560

83 LEOVIGILDO25BAGUIOHIGHWAY, XAVIER CITY ST.,PARANAQUE D. WEST ABOT 352,073 0.0023% 352,073

84 JOSE6GREENHILLS, KAGANDAHAN JUAN Z. SANJUGO STREET JUAN, MM.KAWILIHAN VILLAGE 351,543 0.0023% 351,543

85 MICHAEL#1BAGONG LIMON, ILOG YAP WESTGROVE, PASIG CITY SILANG, CAVITE 351,211 0.0023% 351,211

86 MICHAEL#6-B PASIAN QUE ST., TALAYAN 317,361 0.0021% 317,361

87 ESOWN4902VILL., PASAYQ.C. ADMINISTRATOR ROAD MAKATI 2007 CITY 316,583 0.0021% 316,583

88 RAFAELC/O ALI ESOWNRAMON ADMINISTRATORL. PRATS JR. 311,748 0.0021% 311,748

89 CRISTINA#17 CAVITE S. ST.,ISON ALABANG HILLS VILLAGE, 298,500 0.0020% 298,500

90 VISAYAN11-AMUNTINLUPA A.V. SURETYCRUZ CITY STREET, & INS. CORPORATION 290,000 0.0019% 290,000

91 VICENTEUNITDOLMAR 1403 SUBDIVISION,HAO KEPPEL CHIN CENTER SR SAMAR LOOP COR. CARD. 288,000 0.0019% 288,000

92 CECILIA#ROSALESKALAWAAN, 280 DASMARINAS MITRA AVE. PASIG , CEBU CITY ST., BUSINESS PARK CEBU CITY 6000 280,370 0.0019% 280,370

93 FRANCIS38BINONDO, BONIFACIO O. MANILA MONERA ST., AYALA 279,563 0.0018% 279,563

94 MA.CRISTINA16HEIGHTS, PINES STREET,QUEZON G. ANGAN TIERRA CITY EVELINA HOMES, 277,145 0.0018% 277,145

95 FERNANDO28/FTANDANG TOWER SORA, JALLORINA ONE QUEZON CITY 1116 270,095 0.0018% 270,095

96 MERCEDES111AYALA KANLAON COR. A. PASEO TUASONSTREET DE ROXAS 268,128 0.0018% 268,128

97 LIPAVEC/OAYALAMAKATI A.T. ALABANGMANAGEMENT CITYDE CASTRO VILLAGE SEC., CORP. 264,000 0.0017% 264,000

98 ANGELA9/FCORP.,MUNTINLUPA BA LEPANTOG/F D.V. MKSE LACSON CITY BLDG. BLDG. AYALA 262,746 0.0017% 262,746

99 JETHANANDUNITPASEOAVE., 3503MAKATI, DE ROXAS, REGENCY R. MM DASWANI MAKATI AT SALCEDO, AND/OR CITY TORDESILLAS JANKI DASWANI STREET, 259,200 0.0017% 259,200

100 TDG1662SALCEDO RETIREMENT DASMARINAS VILLAGE, FUND MAKATI AVE. CITY 1227 258,000 0.0017% 258,000 GRAND TOTAL 14,642,661,570 2/FDASMARINAS MARY BACHRACH VILLAGE BLDG.,

PORTMAKATI AREA, CITY MANILA Page 3 of 3 1 of 4

OUTSTANDING BALANCES FOR A SPECIFIC COMPANY Company Code - ALI000000000

Business Date: June 30, 2020 BPNAME HOLDINGS UPCC SECURITIES CORP. 500,594 A & A SECURITIES, INC. 8,486,581 ABACUS SECURITIES CORPORATION 6,249,018 PHILSTOCKS FINANCIAL INC 2,139,277 A. T. DE CASTRO SECURITIES CORP. 1,254,194 ALL ASIA SECURITIES MANAGEMENT CORP. 131,306 ALPHA SECURITIES CORP. 116,668 BA SECURITIES, INC. 836,561 AP SECURITIES INCORPORATED 2,401,131 ANSALDO, GODINEZ & CO., INC. 2,380,695 AB CAPITAL SECURITIES, INC. 4,463,184 SARANGANI SECURITIES, INC. 760,921 SB EQUITIES,INC. 17,622,581 ASIA PACIFIC CAPITAL EQUITIES & SECURITIES CORP. 187,802 ASIASEC EQUITIES, INC. 2,844,169 ASTRA SECURITIES CORPORATION 608,422 CHINA BANK SECURITIES CORPORATION 1,328,102 MACQUARIE CAPITAL SECURITIES (PHILIPPINES), INC. 1,148,497 BELSON SECURITIES, INC. 2,292,213 BENJAMIN CO CA & CO., INC. 14,549 B. H. CHUA SECURITIES CORPORATION 203,279 JAKA SECURITIES CORP. 716,664 BPI SECURITIES CORPORATION 79,724,083 CAMPOS, LANUZA & COMPANY, INC. 1,223,867 SINCERE SECURITIES CORPORATION 81,078 CENTURY SECURITIES CORPORATION 205,381 BDO NOMURA SECURITIES INC 5,155,119 CTS GLOBAL EQUITY GROUP, INC. 1,187,515 TRITON SECURITIES CORP. 769,049 PHILEO ALLIED SECURITIES (PHILIPPINES), INC. 372 IGC SECURITIES INC. 3,848,535 CUALOPING SECURITIES CORPORATION 318,810 DBP-DAIWA CAPITAL MARKETS PHILPPINES, INC. 100,055 DAVID GO SECURITIES CORP. 572,046 DIVERSIFIED SECURITIES, INC. 257,723 E. CHUA CHIACO SECURITIES, INC. 1,351,998 EQUITABLE SECURIITES (PHILS.) INC. 235 EAST WEST CAPITAL CORPORATION 741,066 EASTERN SECURITIES DEVELOPMENT CORPORATION 1,373,591 EQUITIWORLD SECURITIES, INC. 366,106 EVERGREEN STOCK BROKERAGE & SEC., INC. 2,254,196 FIRST ORIENT SECURITIES, INC. 539,100 FIRST INTEGRATED CAPITAL SECURITIES, INC. 514,419 F. YAP SECURITIES, INC. 1,307,458 AURORA SECURITIES, INC. 1,856,128 GLOBALINKS SECURITIES & STOCKS, INC. 976,270 JSG SECURITIES, INC. 363,405 GOLDSTAR SECURITIES, INC. 439,597 GUILD SECURITIES, INC. 580,443 2 of 4

BPNAME HOLDINGS HDI SECURITIES, INC. 505,592 H. E. BENNETT SECURITIES, INC. 279,533 HIGHLAND SECURITIES PHIL., INC. 40,522 HK SECURITIES, INC. 63 I. ACKERMAN & CO., INC. 133,328 I. B. GIMENEZ SECURITIES, INC. 248,213 INVESTORS SECURITIES, INC, 6,474,811 IMPERIAL,DE GUZMAN,ABALOS & CO.,INC. 8,341,142 INTRA-INVEST SECURITIES, INC. 524,397 ASIAN CAPITAL EQUITIES, INC. 21,388 J.M. BARCELON & CO., INC. 293,903 VALUE QUEST SECURITIES CORPORATION 650,200 STRATEGIC EQUITIES CORP. 788,360 LARRGO SECURITIES CO., INC. 312,698 LIPPO SECURITIES, INC. 64 LITONJUA SECURITIES, INC. 591,364 LOPEZ, LOCSIN, LEDESMA & CO., INC. 143,281 LUCKY SECURITIES, INC. 855,216 LUYS SECURITIES COMPANY, INC. 30,406 MANDARIN SECURITIES CORPORATION 1,280,698 MARIAN SECURITIES, INC. 28 MARINO OLONDRIZ Y CIA 100,310 COL Financial Group, Inc. 65,341,537 DA MARKET SECURITIES, INC. 172,019 MERCANTILE SECURITIES CORP. 529,317 MERIDIAN SECURITIES, INC. 254,238 MDR SECURITIES, INC. 292,988 DEUTSCHE REGIS PARTNERS, INC. 1,171,346 MOUNT PEAK SECURITIES, INC. 13,159 NEW WORLD SECURITIES CO., INC. 42,337 OPTIMUM SECURITIES CORPORATION 622,504 RCBC SECURITIES, INC. 3,901,632 PAN ASIA SECURITIES CORP. 122,649 PAPA SECURITIES CORPORATION 6,915,805 MAYBANK ATR KIM ENG SECURITIES, INC. 12,648,169 PLATINUM SECURITIES, INC. 2,124,701 PNB SECURITIES, INC. 722,730 PREMIUM SECURITIES, INC. 413,455 PRYCE SECURITIES, INC. 81,797 SALISBURY BKT SECURITIES CORPORATION 453,232 QUALITY INVESTMENTS & SECURITIES CORPORATION 2,311,193 R & L INVESTMENTS, INC. 718 ALAKOR SECURITIES CORPORATION 50,112 R. COYIUTO SECURITIES, INC. 921,640 REGINA CAPITAL DEVELOPMENT CORPORATION 1,512,016 R. NUBLA SECURITIES, INC. 3,137,109 AAA SOUTHEAST EQUITIES, INCORPORATED 301,608 R. S. LIM & CO., INC. 1,984,631 RTG & COMPANY, INC. 893,174 S.J. ROXAS & CO., INC. 1,058,065 SECURITIES SPECIALISTS, INC. 110,037 FIDELITY SECURITIES, INC. 338,772 SUMMIT SECURITIES, INC. 2,813,456 STANDARD SECURITIES CORPORATION 1,197,641 SUPREME STOCKBROKERS, INC 485,901 TANSENGCO & CO., INC. 559,972 THE FIRST RESOURCES MANAGEMENT & SECURITIES CORP. 1,491,903 3 of 4

BPNAME HOLDINGS TOWER SECURITIES, INC. 1,345,490 TRANS-ASIA SECURITIES, INC. 12,800 APEX PHILIPPINES EQUITIES CORPORATION 43,365 TRENDLINE SECURITIES CORPORATION 4,388 TRI-STATE SECURITIES, INC. 1,253,752 UCPB SECURITIES, INC. 1,174,405 UOB KAY HIAN SECURITIES (PHILS.), INC. 10,000 E.SECURITIES, INC. 40,373 VENTURE SECURITIES, INC. 743,470 VICSAL SECURITIES & STOCK BROKERAGE, INC. 526 FIRST METRO SECURITIES BROKERAGE CORP. 12,515,619 WEALTH SECURITIES, INC. 51,044,852 WESTLINK GLOBAL EQUITIES, INC. 61,590 BERNAD SECURITIES, INC. 377,618 WONG SECURITIES CORPORATION 64,574 YAO & ZIALCITA, INC. 4,861,089 PHIL-PROGRESS SECURITIES CORPORATION 5,000 YU & COMPANY, INC. 2,070,256 BDO SECURITIES CORPORATION 16,145,752 EAGLE EQUITIES, INC. 196,029 GOLDEN TOWER SECURITIES & HOLDINGS, INC. 321,986 SOLAR SECURITIES, INC. 3,413,250 G.D. TAN & COMPANY, INC. 251,860 CLSA PHILIPPINES, INC. 616,823 PHILIPPINE EQUITY PARTNERS, INC. 4,576,645 UNICAPITAL SECURITIES INC. 5,020,135 SunSecurities, Inc. 322,426 COHERCO SECURITIES, INC. 22,000 ARMSTRONG SECURITIES, INC. 27,273 KING'S POWER SECURITIES, INC. 220,170 TIMSON SECURITIES, INC. 195,000 STAR ALLIANCE SECURITIES CORP. 12,100 VC SECURITIES CORPORATION 27,100 CITIBANK N.A. 1,128,727,194 DEUTSCHE BANK MANILA-CLIENTS A/C 22,494,467 THE HONGKONG & SHANGHAI BANKING CORP. LTD. -OWN ACCOUNT 195,165 UNITED COCONUT PLANTERS BANK-TRUST BANKING 4,179,961 - TRUST BANKING GROUP 145,740,776 BANK OF COMMERCE - TRUST SERVICES GROUP 476,235 CHINA BANKING CORPORATION - TRUST GROUP 5,586,150 PNB TRUST BANKING GROUP 9,103,811 RCBC TRUST & INVESTMENT DIVISION 11,376,013 RCBC TRUST & INVESTMENT DIVISION - VARIOUS TAXABLE ACCTS 2,310,742 STERLING BANK OF ASIA TRUST GROUP 7,000 DEUTSCHE BANK MANILA-CLIENTS A/C 1,467,982,948 STANDARD CHARTERED BANK 846,251,245 THE HONGKONG AND SHANGHAI BANKING CORP. LTD. -CLIENTS' ACCT. 2,884,105,791 UNITED COCONUT PLANTERS LIFE ASSURANCE CORPORATION 6,495,000 ASIA UNITED BANK - TRUST & INVESTMENT GROUP 1,029,200 MBTC - TRUST BANKING GROUP 89,881,342 SOCIAL SECURITY SYSTEM 67,700,560 GOVERNMENT SERVICE INSURANCE SYSTEM 401,453,281 AB CAPITAL & INVESTMENT CORP. - TRUST & INVESTMENT DIV. 1,726,030 BDO-TIG SECURITIES SERVICES 750,000 COCOPLANS, INC. 34,000 DEUTSCHE BANK MANILA-CLIENTS A/C 2 4 of 4

BPNAME HOLDINGS THE HONGKONG AND SHANGHAI BANKING CORP. LTD. -CLIENTS' ACCT. 374,385,016 THE HONGKONG & SHANGHAI BANKING CORP. LTD. -OWN ACCOUNT 1 LAND BANK OF THE PHILIPPINES 159,300 LAND BANK OF THE PHILIPPINES-TRUST BANKING GROUP 430,900 NATIONAL REINSURANCE CORPORATION OF THE PHILIPPINES 1,753,000 UCPB GENERAL INSURANCE CO., INC. 281,310 UNITED FUND, INC. 1,763,500 SSS PROVIDENT FUND 115,880 AYALA LAND, INC. 417 Total 7,882,895,086

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