compute for the: 1. cash coverage ratio 2. gross profit ratio 3. net profit margin 4.return on stockholders equity 5. return on common stockholders equity

2017 (in P'000) 36,885,237 25,213,100 11,672,137 11,672,137 Table 2. Income Statement 2018 FINANCIAL DATA (in P'000) E. OPERATING EXPENSES (E.1 + E.2 + E.3 + E.4) 39,484,035 E.1 Selling or Marketing Expenses E.2 Administrative Expenses E.3 General Expenses 29,822,058 E.4 Other Expenses, specify (E.4.1 + E.4.2 + E.4.3 + E.4.4 + E.4.5 9,661,977 + E.4.6 + E.4.7+ E.4.8 + E.4.9+ E.4.10) E.4.1 Cost of rehabilitation works 9,661,977 E.4.2 E.4.3 E.4.4 E.4.5 E.4.6 E.4.7 E.4.8 E.4.9 E.4.10 F. FINANCE COSTS (F.1 + F.2 + F.3 + F.4 + F.5) 19,101,077 F.1 Interest on Short-term Promissory Notes/Short-term debt 595,375 F.2 Interest on Long-term Promissory Notes/Long-term debt 17,010,015 F.3 Interest on bonds, mortgages and other long-term loans F.4 Amortization of discount on long-term debt 146,151 F.5 Other interests, specify (F.5.1 + F.5.2+F.5.3 + F.5.4 + F.5.5) 1,349,536 F.5.1 Amortization of service concession obligations and deposits 789,712 F.5.2 Others 559,824 F.5.3 F.5.4 G. NET INCOME (LOSS) BEFORE TAX (D-E-F) 70,184,839 H. INCOME TAX EXPENSE (negative entry) (15,119,725) I. INCOME(LOSS) AFTER TAX 55,065,114 J. Amount of (1) Post-Tax Profit or Loss of Discontinued Operations; and (ii) Post-Tax Gain or Loss Recognized on the Measurement of Fair Value less Cost to Sell or on the Disposal of the Assets or Disposal Group(s) constituting the J.1 J.2 K. PROFIT OR LOSS ATTRIBUTABLE TO MINORITY INTEREST 23,247,393 L PROFIT OR LOSS ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT 31,817,721 M. EARNINGS (LOSS) PER SHARE M.1 Basic 48.80 M.2 Diluted 48.21 14,441,334 659,044 12,575,158 511,623 695,509 614,717 80,792 62,126,534 (12,259,759) 49,866,775 19,602,933 30,263,842 46.67 45.99 AYALA CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (Amounts in Thousands, Except Earnings Per Share Figures) Years Ended December 31 2018 2017 2016 2274,881,486 P242,227,640 P199,208,899 REVENUE Sale of goods and rendering of services (Notes 11, 22, 29 and 31) Share in net profits of associates and joint ventures (Notes 10 and 29) Interest income from real estate (Note 7) Dividend income 20,459,804 18,494,458 18,153,893 7,042,078 5,409,944 5,010,993 106,803 653,721 570,455 302,490,171 266,785,763 222,944,240 COSTS AND EXPENSES Costs of sales and services (Notes 8. 23 and 31) General and administrative espenses (Notes 23, 28 and 31) 196,607,561 175,674,469 29,822,058 25,213,100 226,429,619 200,887,569 141,350,400 20,932,709 162,283,109 OTHER INCOME (CHARGES) - Net Interest income (Note 31) Other income (Note 23) Interest and other financing charges (Notes 19. 23 and 31) Other charges (Note 13 and 23) 2,705,648 20,181,693 1,403,537 20,938,274 1,765,943 12,575,606 (19,101,077) (14,441,334) (9,661,977) (11,672,137) (5,875,713) (3.771,660) 70,184,839 62,126,534 (14,258,189) (6,804,908) (6,721,548) INCOME BEFORE INCOME TAX 53,939,583 PROVISION FOR INCOME TAX (Note 25) Current Deferred 16,330,821 (1,211,096) 15,119,725 14,629,398 (2,369,639) 12,259,759 11,357,136 (850, 162) 10,506,974 P55,065,114 249.866.775 P43,432,609 NET INCOME Net Income Attributable to: Owners of the Parent Company (Note 26) Non-controlling interests P31,817,721 23,247,393 P55,065,114 P30,263,842 19,602,933 P49,866,775 P26,011,263 17,421,346 P43,432,609 EARNINGS PER SHARE (Note 26) Basic Diluted 248.80 248.21 P46.67 P45.99 P39.88 P39.31 See accompanying Notes to Consolidated Financial Statements. AYALA CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Amounts in Thousands) December 31 2017 (As restated 2018 see Note 3) ASSETS P64,259,279 5,400,239 100,242,845 P60,624,263 5,956,489 105,518,572 52,209,456 120,560,493 67,890,147 412,759,422 105,195,768 61.854,311 336,952,442 Current Assets Cash and cash equivalents (Notes 5, 31, 32 and 33) Short-term investments (Notes 6, 31, 32 and 33) Accounts and notes receivable (Notes 7, 31, 32 and 33) Contract assets (Note 16) Inventories (Note 8) Other current assets (Notes 9 and 32) Total Current Assets Noncurrent Assets Noncurrent accounts and notes receivable (Notes 7.32 and 33) Noncurrent contract assets (Note 16) Investments in associates and joint ventures (Note 10) Investment properties (Note 11) Property, plant and equipment (Note 12) Service concession assets (Note 13) Intangible assets (Note 14) Deferred tax assets - net (Note 25) Other noncurrent assets (Notes 15, 31, 32 and 33) Total Noncurrent Assets Total Assets 6,366,250 45,774,058 35,929,990 240,140,558 202,649,300 227,645,548 202,873,411 104,492,357 85,430,631 98,404,486 91,049,570 16,553,369 16,705,000 15,546,040 12,720,910 40,087,599 27,390,430 785,166,197 684,593,310 P1,197,925,619 P1,021,545,752 F29,904,723 P39,518,245 204,758,244 21,988,850 3,406,921 11,129,234 169,652,527 1,710,260 25,983,794 LIABILITIES AND EQUITY Current Liabilities Short-term debt (Notes 19, 31, 32 and 33) Accounts payable and accrued expenses (Notes 17,31, 32 and 33) Contract liabilities (Note 16) Income tax payable Other current liabilities (Notes 18, 32 and 33) Current portion of: Long-term debt (Notes 19, 31, 32 and 33) Service concession obligation (Notes 13, 32 and 33) Total Current Liabilities Noncurrent Liabilities Long-term debt - net of current portion (Notes 19, 31, 32 and 33) Contract liabilities - net of current portion (Note 16) Service concession obligation - net of current portion (Notes 13, 32 and 33) Deferred tax liabilities - net (Note 25) Pension liabilities (Note 27) Other noncurrent liabilities (Notes 20, 32 and 33) Total Noncurrent Liabilities Total Liabilities 48,480,559 820,802 330,102,855 13,731,967 803,898 241,787.169 306,975,262 324,262,828 8,630,235 7,018,211 10,999,354 2,589,852 45,213,929 398,714,409 728,817,264 7,748,056 8,108,305 2,600,756 43,233,816 368,666,195 610,453,364 (Forward)