Ayala Corporation: Additional Listing

February 20, 2013 PSE MEMORANDUM NO. LA-0080-13 TO : The Investing Public SUBJECT : Ayala Corporation Additional Listing The Exchange approved on April 25, 2001, the application submitted by AYALA CORPORATION (the "Company") to list additional 127,479,000 common shares , with a par value of P1.00 per share , divided into (a) 60,000,000 shares to cover the ESOP; (b) 60,000,000 shares to cover the ESOWN, (c) 7,309,000 shares to cover the 40% stock dividend for 1995 ESOP and ESOWN shares; and (d) 170,000 shares to cover the 50% stock dividend for 1996 ESOP shares. 1 Further, with reference to Circular for Brokers No. 2515-2005 dated May 25, 2005, the change in the par value of the Company from P1.00 to P50.00 took effect and was reflected on the Exchange computer system on May 30, 2005. Correspondingly, this brings the number of common shares approved for listing from the aforementioned 127,479,000 shares, with a par value of P1.00 per share, to 2,549,580 shares, with a par value of P50.00 per share , divided into (a) 1,200,000 shares to cover the ESOP; (b) 1,200,000 shares to cover the ESOWN; (c) 146,180 shares to cover the 40% stock dividend for 1995 ESOP and ESOWN shares; and (d) 3,400 shares to cover the 50% stock dividend for 1996 ESOP shares. Finally, the Exchange approved on December 13, 2006, the application submitted by the Company to list additional 8,864,000 common shares , with a par value of P50.00 per share , to cover the Company's ESOWN. 2 In this connection, please be advised that an additional 60,358 common shares have been availed of and fully paid by the optionee/s under the Company's ESOP/ESOWN. ASHECD In view thereof, the listing of the additional 60,358 common shares is set for Thursday, February 21, 2013 . This brings the number of common shares listed under the Company's ESOP/ESOWN to a total of 5,200,323 common shares. The designated stock transfer agent is hereby authorized to record and register in its books the above number of shares. For your information and guidance. (SGD.) J.V. B. ZUO III OIC, Listings Department Footnotes 1. The exercise price for the ESOP and ESOWN is 80% of the previous month's closing price at the time the option is granted. 2. The subscription price for the ESOWN is based on the market price with a discount to be determined by the Compensation Committee at the date of the grant. <http://www.pse.com.ph/resource/memos/2013/LA__2013-0080.pdf> last visited April 4, 2013.