Integrated Micro-Electronics, Inc. as of December 2019 MERMAC, Inc. 47.33% Ayala Corporation 100% AC Industrials Others 52.03% 47.97% Integrated Micro-Electronics, Inc. 100% 100% 100% 100% IMI International IMI USA IMI Japan PSI Technologies, Inc. (Singapore) Pte. Ltd. 100% 100% 100% 100% 40% PSiTech Realty, Inc. 40%* IMI International Regional IMI UK Cooperatief IMI Europe Speedy-Tech Electronics Operating Headquarter 60% U.A. (“IMI ROHQ”) 40% Pacsem Realty, 80% Inc. 64%* 100% 100% STI Enterprises Ltd. IMI Technology (SZ) Co. Ltd. IMI France SAS 100% 100% 100% IMI Bulgaria 100% IMI STI Limited 80% IMI Smart Technology EOOD Microenergia (Shenzhen) Co., Ltd. (IMI BG) EOOD 100% 100% 100% IMI Czech STI Philippines Inc. 80% Speedy-Tech Electronics Republic s.r.o (IMI (Jiaxing) Co. Ltd. (“STJX”) CZ) IMI MX, S.A.P.I. 100% 100% de C.V. 100% STI Asia Ltd.* IMI (Chengdu) Ltd. 80% (IMI CD) (IMI MX) 76.01% 100% VIA Optronics 100% 100% VIA Optronics AG GmbH STI Supplychain Ltd. * Speedy-Tech Electronics 76.01% 80% (HK) Limited (“STHK”) 100% VIA Optronics IMI Niš 100% 100% (Suzhuo) Co. Ltd. 100% Speedy-Tech (Serbia) ST Intercept 76.01% (Philippines), Inc. 80% (“STPHIL”) ** 100% VIA Optronics LLC 76.01% VIA Optronics * In the process of liquidation. 100% (Taiwan) Ltd. ** Dormant 76.01% 65% VTS Touchsensor Co. Ltd. 49.40% AYALA CORPORATION AND SUBSIDIARIES Map of Relationships of the Companies within the Group As of December 31, 2019 MERMAC, INC. 47.33% AYALA CORPORATION 44.5% 35.1% 100% 100% MANILA WATER AC INDUSTRIAL AYALA LAND, INC. COMPANY, INC. TECHNOLOGY AC ENERGY, INC. (51.4%) HOLDINGS, INC. 50%16.23% 100% 0.06% 52.03% 30.9% 50% INTEGRATED AYALA HOTELS, INC. PHILWATER HOLDINGS MICROELECTRONICS, GLOBE TELECOM, INC. (72.2%) COMPANY, INC. INC. (52.1%) 40%0.04% 100% 30.85% 33.5% 60% 2.06%BANK OF THE 20.1% LAGDIGAN LAND MICHIGAN HOLDINGS, PHILIPPINE ISLANDS iPEOPLE, INC. CORPORATION (66.7%) INC. (48.6%) 100% 100% 78.1% 100% AC INFRASTRUCTURE AYALA HEALTHCARE LIONTIDE HOLDINGS AC VENTURES HOLDINGS CORPORATION HOLDINGS, INC. INC. HOLDING CORP. 100% 100% 100% 100% AYALA AVIATION AG COUNSELORS HCX TECHNOLOGY AZALEA INTERNATIONAL VENTURE PARTNERS CORPORATION CORPORATION PARTNERS, INC. LIMITED 100% 78.8% 60% 100% DARONG AGRICULTURAL TECHNOPARK LAND, ASIACOM PHILIPPINES, BESTFULL HOLDINGS AND DEVELOPMENT CORPORATION INC. INC. LIMITED 100% 100% 100% PUREFOODS AC INTERNATIONAL AYC FINANCE LIMITED INTERNATIONAL FINANCE LIMITED LIMITED Legend: % of ownership appearing outside the box - direct % of economic ownership % of ownership appearing inside the box - effective % of economic ownership .