Philippine Business Bank: Selling Commission

March 4, 2013 PSE MEMORANDUM NO. LA IPO-0096-13 TO : The Trading Participants SUBJECT : Philippine Business Bank Selling Commission This is in connection with the Initial Public Offering ("IPO") of Philippine Business Bank ("PBB" or the "Bank"). In the attached letter dated February 27, 2013, First Metro Investment Corporation and SB Capital Investment Corporation, the Joint Lead Underwriters, advised the Exchange of the Procedures for Claiming Selling Commission, to wit: ISHCcT The checks representing payment for the selling commissions of PSE Trading Participants ("TPs") equivalent to 1.00% (VAT inclusive) of each TP's final allocation amount under the PSE-mandated 20% IPO allocation for the TPs implemented for the PBB IPO will be available for pick-up beginning March 1, 2013 at the offices of First Metro Investment Corporation ("First Metro") at the Ground Floor, Wellington Bldg., Plaza Lorenzo Ruiz, Binondo, Manila or SB Capital Investment Corporation ("SB Capital"), at the 18th Floor Security Bank Centre, 6776 Ayala Avenue, Makati City, as applicable . Each TP's final allocation amount is computed by multiplying the final Offer Price by the number of shares allocated to and sold by each TP under the PSE-mandated 20% IPO allocation for the TPs for the PBB IPO. To get their respective checks, representatives of the TPs are requested to look for Theresa Manas of First Metro (Tel Nos: 241-4301 to 07) or Kay Consolacion/Mylet Gonzales of SB Capital (Tel Nos: 888-7208 or 888-7218) and submit the following: a. Authorization letter duly executed and signed by the authorized signatory/ies of the TP; and b. Official Receipt made out to First Metro Investment Corporation or SB Capital Investment Corporation for the total amount of the selling commission, as the case may be. (Please see attached Distribution of TPs between First Metro and SB Capital.) As required by the Bureau of Internal Revenue (BIR) Revenue Regulations No. 17-2003, First Metro and SB Capital shall withholding 10% of the selling commissions (computed as 10% multiplied by the selling commission net of VAT) which amount shall be remitted by BIR. The corresponding BIR FORM 2307 (Certificate of Tax Withheld) shall be given to each TP along with check payment. For your information and guidance. (SGD.) J.V. B. ZUO III OIC, Listings Department Noted by: (SGD.) MARSHA M. RESURRECCION Head, Issuer Regulation Division ATTACHMENT FIRST METRO SB CAPITAL INVESTMENT CORPORATION A Subsidiary of Security Bank Metrobank Group February 27, 2013 PHILIPPINE STOCK EXCHANGE, INC. 3rd Floor Philippine Stock Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Attention : Ms. MARSHA M. RESURRECCION Head, Issuer Regulations Division Re : Philippine Business Bank Initial Public Offering Procedures for Claiming Selling Commission Ladies and Gentlemen : The checks representing payment for the selling commissions of PSE Trading Participants ("TPs") equivalent to 1.00% (VAT inclusive) of each TP's final allocation amount under the PSE-mandated 20% IPO allocation for the TPs implemented for the PBB IPO will be available for pick-up beginning March 1, 2013 at the offices of First Metro Investment Corporation ("First Metro") at the Ground Floor, Wellington Bldg., Plaza Lorenzo Ruiz, Binondo, Manila or SB Capital Investment Corporation ("SB Capital"), at the 18th Floor Security Bank Centre, 6776 Ayala Avenue, Makati City, as applicable . Each TP's final allocation amount is computed by multiplying the final Offer Price by the number of shares allocated to and sold by each TP under the PSE-mandated 20% IPO allocation for the TPs for the PBB IPO. cTDIaC To get their respective checks, representatives of the TPs are requested to look for Theresa Manas of First Metro (Tel Nos: 241-4301 to 07) or Kay Consolacion/Mylet Gonzales of SB Capital (Tel Nos: 888-7208 or 888-7218) and submit the following: a) Authorization letter duly executed and signed by the authorized signatory/ies of the TP; and b) Official Receipt made out to First Metro Investment Corporation or SB Capital Investment Corporation for the total amount of the selling commission, as the case may be. (Please see attached distribution of TPs between First Metro and SB Capital.) As required by Bureau of Internal Revenue (BIR) Revenue Regulations No. 17-2003, First Metro and SB Capital shall withhold 10% of the selling commissions (computed as 10% multiplied by the selling commissions net of VAT) which amount shall be remitted to the BIR. The corresponding BIR Form 2307 (Certificate of Tax Withheld) shall be given to each TP along with the check payment. We would appreciate your assistance in disseminating this information to the Trading Participants. Thank you. Very truly yours, (SGD.) JUSTINO JUAN R. OCAMPO (SGD.) E. FEDERICO C. GALANG III Senior Vice President Executive Director Head Investment Banking Group SB Capital Investment Corporation The following Trading Participants are requested to pick up their checks at First Metro's office and issue their Official Receipt in favor of First Metro Investment Corporation : 101 A & A Securities, Inc. 104 A.T. de Castro Securities Corp. 237 AAA Southeast Equities, Inc. 112 AB Capital Securities, Inc. 102 Abacus Securities Corporation 103 Accord Capital Equities Corporation 232 Alakor Securities Corporation 106 Alpha Securities Corporation 110 Angping & Associates Securities, Inc. 111 Ansaldo, Godinez & Co., Inc. 255 Apex Phils. Equities Corporation 388 Armstrong Securities, Inc. 116 Asia Pacific Capital Equities & Securities, Inc. 118 Asiasec Equities, Inc. 119 Astra Securities Corp. 120 ATC Securities, Inc. 220 ATR KimEng Securities, Inc. 167 Aurora Securities, Inc. 124 B. H. Chua Securities Corporation 109 BA Securities, Inc. 279 BDO Securities Corporation 122 Belson Securities, Inc. 123 Benjamin Co Ca & Company, Inc. 272 Bernad Securities, Inc. 126 BPI Securities Corporation 128 Campos, Lanuza & Company, Inc. 130 Century Securities Corporation 203 CitisecOnline.Com, Inc. 133 Citisecurities, Inc. 323 CLSA Philippines, Inc. 387 Coherco Securities, Inc. 141 Cualoping Securities Corporation 204 DA Market Securities, Inc. ADSIaT 143 David Go Securities Corporation 142 DBP-Daiwa Securities (Phils.), Inc. 209 Deutsche Regis Partners, Inc. 145 Diversified Securities, Inc. 328 DW Capital, Inc. 147 E. Chua Chiaco Securities, Inc. 283 Eagle Equities, Inc. 150 Eastern Securities Development Corp. 149 Eastwest Capital Corporation 261 EIB Securities, Inc. 153 Equitiworld Securities, Inc. 154 Evergreen Stock Brokerage & Securities, Inc. 162 F. Yap Securities, Inc. 243 Fidelity Securities, Inc. 159 First Integrated Capital Sec., Inc. 267 First Metro Securities Brokerage Corporation 157 First Orient Securities, Inc. 161 Francisco Ortigas Securities, Inc. 288 G. D. Tan & Co., Inc. 168 Globallinks Securities & Stocks, Inc. 285 Golden Tower Securities & Holdings, Inc. 170 Goldstar Securities, Inc. 172 Guild Securities, Inc. 175 H. E. Bennett Securities, Inc. 174 HDI Securities, Inc. 179 I. Ackerman & Company, Inc. 180 I. B. Gimenez Securities, Inc. 140 IGC Securities, Inc. 182 Imperial de Guzman, Abalos & Co., Inc. 183 Intra-invest Securities, Inc. 181 Investors Securities, Inc. 188 J. M. Barcelon & Company, Inc. 185 J. P. Morgan Securities Philippines, Inc. 125 Jaka Securities Corporation 169 JSG Securities, Inc. The following Trading Participants are requested to pick up their checks at SB Capital's office and issue their Official Receipt in favor of SB Capital Investment Corporation : 389 Kings Power Securities, Inc. 193 Larrgo Securities Company, Inc. 195 Litonjua Securities, Inc. 197 Lopez, Locsin, Ledesma & Company, Inc. 198 Lucky Securities, Inc. 199 Luys Securities Company, Inc. 121 Macquarie Capital Securities (Philippines), Inc. 200 Mandarin Securities Corporation 201 Marian Securities, Inc. 208 MDR Securities, Inc. 205 Mercantile Securities Corporation 206 Meridian Securities, Inc. 210 Mount Peak Securities, Inc. 211 New World Securities, Inc. AIaSTE 213 Nieves Sanchez, Inc. 215 Optimum Securities Corporation 218 Pan Asia Securities Corporation 219 Papa Securities Corporation 282 PCCI Securities Brokers Corp. 131 PCIB Securities, Inc. 338 Philippine Equity Partners, Inc. 276 Phil-Progress Securities Corporation 223 Platinum Securities, Inc. 224 PNB Securities, Inc. 225 Premium Securities, Inc. 230 Quality Investment & Securities Corp. 231 R & L Investments, Inc. 233 R. Coyiuto Securities, Inc. 236 R. Nubla Securities, Inc. 238 R. S. Lim & Company, Inc. 217 RCBC Securities, Inc. 235 Regina Capital Devt. Corp. 239 RTG & Company, Inc. 240 S. J. Roxas & Company, Inc. 229 Salisbury BKT Securities Corporation 113 Sarangani Securities, Inc. 115 SB Equities, Inc. 242 Securities Specialists, Inc. 129 Sincere Securities Corporation 286 Solar Securities, Inc. 247 Standard Securities Corporation 192 Strategic Equities Corporation 246 Summit Securities, Inc. 368 Sunsecurities, Inc. 249 Supreme Stockbroker, Inc. 251 Tansengco & Company, Inc. 252 The First Resources Management & Securities Corporation 253 Tower Securities, Inc. 254 Trans-Asia Securities, Inc. 257 Tri-State Securities, Inc. 136 Triton Securities Corporation 333 UBS Securities Philippines, Inc. 259 UCPB Securities, Inc. 345 Unicapital Securities, Inc. 260 UOB-KAY HIAN Securities (Philippines) 100 UPCC Securities Corporation 190 Value Quest Securities Corporation 263 Venture Securities, Inc. 266 Vicsal Sec. & Stock Brokerage, Inc. 135 VSEC.com, Inc. 269 Wealth Securities, Inc. 270 Westlink Global Equities, Inc. 273 Wong Securities Corporation 275 Yao & Zialcita, Inc. 278 Yu & Company, Inc. 311 Credit Suisse Philippines, Inc. 528 Star Alliance Securities Corporation CTIEac <http://www.pse.com.ph/resource/memos/2013/LA_IPO_2013-0096.pdf> last visited May 29, 2013.