Asia United Bank Corporation: Initial Public Offering — Procedures for Local Small Investors

May 6, 2013 PSE MEMORANDUM NO. LA IPO-0172-13 TO : The Investing Public SUBJECT : Asia United Bank Corporation Initial Public Offering Procedures for Local Small Investors First Metro Investment Corporation and BDO Capital and Investment Corporation, the Joint Domestic Lead Underwriters for the Initial Public Offering of the common shares of Asia United Bank Corporation ("AUB") , provided the Exchange with the attached Procedures for Local Small Investors. 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 ASIA UNITED BANK CORPORATION ("AUB") INITIAL PUBLIC OFFERING ("IPO") Application and Settlement Procedures for Local Small Investors Under the Small Investors Program of the Securities and Exchange Commission and The Philippine Stock Exchange, Inc. 1. The Local Small Investors ("LSI") program will be managed by Stock Transfer Services, Inc., the Receiving Agent for this transaction, who will be tasked to receive LSI applications from 9:00 a.m. of May 07, 2013 (start of offer) to 12:00 noon of May 14, 2013 . In addition, existing and interested depositors of Asia United Bank Corporation (AUB) may submit their LSI applications to any AUB branch. SECcIH 2. For the General Public Representatives of the Receiving Agent, Stock Transfer Services, Inc. ("STSI") will be stationed in both the Ayala and Pasig offices/Trading Floors of the PSE and the PSE Cebu Office to accept application forms from LSIs together with representatives of AUB. The representatives will be present from 9:00 am to 3:00 pm from May 7-10, 2013 and from 9:00 am to 12:00 nn on May 14, 2013. Offices/Trading Floors of the Philippine Stock Exchange ("PSE") Philippine Stock Exchange Plaza PSE Tektite (Trading Floor) PSE Cebu Ayala Triangle, Ayala Avenue Exchange Road, Ortigas 2nd Floor, Insular Life Cebu Business Makati City Pasig City Center, Biliran Road cor. Mindanao Ave., Cebu Business Park, Cebu City Contact Persons: Contact Persons: Contact Persons: 1. Mr. Bryan V. Manuel, STSI 1. Mr. Ted Jonathan Visarra, STSI 1. Mr. Zaldy Adana, STSI 2. Ms. Leah Fontanilla, AUB 2. Ms. Jessica Datu, AUB 2. Ms. Annabelle Ting, AUB 3. For existing and interested AUB depositors: AUB is targeting to achieve broad distribution of AUB's LSI shares via an online application to subscribe. In line with the foregoing, to enjoy the streamlined processing and settlement which AUB offers, existing and interested AUB depositors who want to apply for shares under the LSI program must have an existing peso current or savings account at any AUB branch nationwide. Interested LSI applicants who are not existing AUB clients may open peso current or savings accounts. Minimum opening balance is waived. The account must however have a minimum balance equivalent to the settlement amount for the subscribed IPO shares .* ("Account Opening"). TIaCHA To expedite Account Opening, LSI applicants should log onto www.aub.com.ph where online application forms for Account Opening will be available no later than May 6, 2013. Upon Account Opening, the LSI applicant is required to submit the following documents to AUB: For individuals: Photocopy of two (2) valid and current government-issued IDs ( e.g. , Passport, ACR, Driver's license, SSS, PRC, Voter's ID, Postal ID, Foreign Service ID, Firearms license, Civil Service ID). For joint accounts/multiple investors in one application, two (2) valid IDs per account/investor are also required. For corporate applicants: Certified true copy of the latest Articles of Incorporation and Bylaws of the Applicant, duly certified by its Corporate Secretary Certified true copy of the SEC Certificate of Registration of the Applicant, duly certified by its Corporate Secretary Secretary's Certificate authorizing the subscription/purchase of the AUB Offer Shares For foreign corporate applicants: certification representing and warranting that the foreign client's investing in the Offer Shares subject of the Application will not violate the laws of their jurisdiction and that they are allowed to acquire, purchase and hold the Offer Shares An LSI applicant who has become an AUB account holder will be notified via SMS and/or email of his or her entitlement to AUB LSI shares upon the start of the Offer Period. Once such notice is received, such LSI applicant will be asked to log on to www.aub.com.ph and follow instructions to confirm online the number of AUB shares he or she is willing to purchase ("Application to Subscribe"). AUB has simplified and streamlined the process of filling in the Application to Subscribe by utilizing information provided during Account Opening. Upon filling in online the Application to Subscribe, the LSI applicant will be asked to personally appear and submit the Application to Subscribe, with corresponding broker's endorsement and payment at any Branch of Asia United Bank nationwide. * DcSEHT * A full listing of AUB's branches, all of which shall serve as AUB IPO Subscription Processing Centers, and their corresponding maps showing the location of these branches may be found in AUB's website, www.aub.com.ph. 4. LSI Shares may be subscribed to, or held by any person of legal age or duly organized and existing corporations, partnerships or other corporate entities regardless of nationality. 5. Upon application, an LSI applicant is required to submit the following documents: For General Public For individuals: Photocopy of two (2) valid and current government-issued IDs ( e.g. , Passport, ACR, Driver's license, SSS, PRC, Voter's ID, Postal ID, Foreign Service ID, Firearms license, Civil Service ID). For joint accounts/multiple investors in one application, two (2) valid IDs per account/investor are also required. For corporate applicants: Certified true copy of the latest Articles of Incorporation and Bylaws of the Applicant, duly certified by its Corporate Secretary Certified true copy of the SEC Certificate of Registration of the Applicant, duly certified by its Corporate Secretary Secretary's Certificate authorizing the subscription/purchase of the AUB Offer Shares cDHAaT For foreign corporate applicants: certification representing and warranting that the foreign client's investing in the Offer Shares subject of the Application will not violate the laws of their jurisdiction and that they are allowed to acquire, purchase and hold the Offer Shares Mode of payment should be cashier's/manager's check, corporate check or personal check and payable to AUB IPO. For AUB clients The printed AUB Application to Subscribe which is to be printed, signed, and, as applicable, endorsed by the LSI applicant's broker (see 5 below) after online data entry. The Application to Subscribe will also include an authority to debit the LSI applicant's deposit account with AUB for an amount corresponding to the purchase price of the Offer Shares to be subscribed by the LSI applicant. 6. As required by the PSE for all subscribers to the IPO shares, LSI applicants should lodge his/her shares with the Philippine Depository and Trust Corporation ("PDTC") and are required to nominate a PDTC participant (subject to the latter's confirmation) to whom his/her shares will be lodged. The broker is required to sign-off on the LSI's AUB application to purchase. An LSI applicant may request his/her ownership of the Offer Shares be evidenced by stock certificates issued in his/her name as evidence of ownership through his/her broker only after the Offer Shares have been listed. The cost of the issuance of stock certificates shall be for the account of the LSI Applicant. 7. Multiple bookings (two or more applications by the same applicant) will not be allowed. Each LSI applicant may subscribe to not more than 260 AUB IPO shares in accordance with the board lot table. Based on the Offer Price per share of PHP95, the maximum total subscription for each LSI applicant is PHP24,700. The minimum subscription is 100 shares, and thereafter, in multiples of 10 shares. Therefore, an LSI can only subscribe to a maximum of 260 shares. Further, an LSI is defined as a "share subscriber" who is willing to subscribe to a minimum board lot or whose subscription does not exceed P25,000.00. DIAcTE 8. LSI Applicants who do not wish to apply using the www.aub.com.ph online Account Opening and Application to Subscribe may procure a traditional printed application to subscribe and purchase form through the following: Published in a newspaper of general circulation at the start of the offer period; Any PSE Trading Participant; and, Joint Domestic Lead Underwriters' offices. The online process will allow AUB to efficiently tally and allocate these additional requested shares. 9. Key dates of the IPO: a. Pricing May 03, 2013 b. SEC permit to sell May 06, 2013 c. Offer period May 07-14, 2013 d. Listing and trading May 17, 2013 <http://www.pse.com.ph/resource/memos/2013/LA_IPO_2013-0172.pdf> last visited May 31, 2013.