Integrated Micro-Electronics, Inc. as of December 2018 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% Speedy-Tech Electronics (Jiaxing) Co. Ltd. (“STJX”) EOOD Microenergia (IMI BG) EOOD 100% 100% 100% IMI Czech STI Philippines Inc. 80% IMI (Chengdu) Ltd. Republic s.r.o (IMI (IMI CD) CZ) 100% 100% IMI MX, S.A.P.I. 100% de C.V. IMI Manufactura 100% STI Asia Ltd.* Speedy-Tech Electronics S.A.P.I. de C.V. 80% (HK) Limited (“STHK”) (IMI MX) 76.01% 100% 100% VIA Optronics VIA Optronics LLC 100% Speedy-Tech STI Supplychain Ltd. * GmbH 76.01% (Philippines), Inc. 80% (“STPHIL”) ** 100% VIA Optronics IMI Niš 100% (Suzhuo) Co. Ltd. 100% (Serbia) ST Intercept 76.01% 80% 65% VTS Touchsensor Co., Ltd. 49.40% * In the process of liquidation. ** Dormant AYALA CORPORATION AND SUBSIDIARIES SCHEDULE J - CORPORATE ORGANIZATIONAL CHART As of December 31, 2018 MERMAC, INC. 47.04% AYALA CORPORATION 100% 100% 100% 100% AYALA AVIATION AC INDUSTRIAL AC TECHNOLOGY HOLDINGS, AC ENERGY, INC. CORPORATION INC. INTERNATIONAL 47.0% 50% 100% 100.00% AZALEA 50% AYALA HOTELS, AYALA HEALTHCARE AYALA LAND, INC. INTERNATIONAL INC. (73.5%) HOLDINGS, INC. VENTURE PARTNERS LIMITED 60% 40% 100% 100% 100% LAGDIGAN LAND AYC FINANCE BESTFULL DARONG AGRICULTURAL AND CORPORATION LIMITED HOLDINGS LIMITED (68.2%) DEVELOPMENT 35.1% 100% 100% 100% MANILA WATER 16.3% PHILWATER AC INFRASTRUCTURE HOLDINGS COMPANY, AC EDUCATION, INC. HOLDINGS COMPANY, INC. INC. CORPORATION 0.04% 100% 100% 78.8% 100% MICHIGAN HOLDINGS, PUREFOODS TECHNOPARK AC VENTURES INC. INTERNATIONAL LAND, INC. HOLDING CORP. 2.1% 30.9% 78.1% 30.9% 60% BANK OF THE 20.1% LIONTIDE GLOBE TELECOM, ASIACOM PHILIPPINE ISLANDS HOLDINGS INC. INC. PHILIPPINES, INC. 100.00% 100.00% HCX TECHNOLOGY AG COUNSELORS PARTNERS, INC. CORPORATION Legend: % of ownership appearing outside the box - direct economic % of ownership % of ownership appearing inside the box - effective % of economic ownership .