East West Banking Corporation: Release of Shares Under Lock-up

December 6, 2012 PSE MEMORANDUM NO. LA-0532-12 TO : The Investing Public SUBJECT : East West Banking Corporation Release of Shares Under Lock-up This is with reference to Memorandum No. LA_IPO_2012-0204 dated May 3, 2012 regarding the initial listing of 1,128,409,610 common shares of EAST WEST BANKING CORPORATION ( "EW" or the "Bank" ), with a par value of P10.00 per share, under the First Board of the Exchange. The said common shares of the Bank were listed on May 7, 2012. In relation thereto, the Exchange received on November 23, 2012, letters from Rizal Commercial Banking Corporation-Trust and Investments Group and the Hong Kong Shanghai Banking Corporation Limited (collectively, the "Escrow Agents") regarding the expiration of the lock-up period of the shares of the Bank owned by Filinvest Development Corporation ("FDC") and FDC Forex Corporation ("FDC Forex") amounting to 546,378,020 common shares (the "Escrow Shares"). The Escrow Shares were held under lock-up by the Escrow Agents for one hundred eighty (180) days in compliance with the requirement of the Exchange. The EW shares were listed on the Exchange on May 7, 2012 and the 180-day lock-up period expired on November 3, 2012. The details of the Escrow Shares are as follows: TSacC Shareholder No. of Shares Escrow Agent FDC 271,354,890 Hong Kong Shanghai Banking Corporation Limited FDC 82,100 1 Rizal Commercial Banking Corporation Trust and Investments Group FDC Forex 274,941,030 Hong Kong Shanghai Banking Corporation Limited TOTAL 546,378,020 In view thereof, the 546,378,020 common shares of the Bank previously locked-up shall be eligible for trading on the Exchange commencing on Friday, December 7, 2012. For your information and guidance. J.V. B. ZUO III OIC, Listings Department Noted by: MARSHA M. RESURRECCION Head, Issuer Regulation Division Footnotes 1. In connection with the Initial Public Offering of 245,316,200 EW shares, Deutsche Bank AG, the Stabilizing Agent, was given an over-allotment option to sell an additional 36,797,400 EW shares, which over-allotment option was exercised on June 5, 2012 for 36,715,300 shares with the balance of 82,100 shares returned to FDC. In compliance with the lock-up requirement of the Exchange, FDC agreed to place under escrow the additional 82,100 EW shares and were made an integral part of the Escrow Agreement. <http://www.pse.com.ph/resource/memos/2012/LA__2012-0532.pdf> last visited January 10, 2013.