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2 ANNUAL REPORT / / / (02) / [email protected] / / / (02) / [email protected] / / (04) / / (06) / / (07) / 65 2 / (02) / / (02) / / (02) / / (03) / / 8 1 / / (02) / / / / / (02) / / (03)

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12 ( ) ( ) ,407, ,330, % 45,109,265 43,179, % 6,412,115 6,300, % 9,566,746 10,312, % 8,238,993 9,090, % ( ) ( ) 1,039,622,255 1,039,622, % 32.88% 29.01% 28.08% 4.81% 4.80% 6.18% 6.92% (ROA) 13.71% 15.62% (ROE) 30.73% 36.16% ( ) ( ) (ROC) (ROC) (IFRS) (IFRS) (IFRS) ANNUAL REPORT

13 ( ) ( ) (ROC) (ROC) (IFRS) (IFRS) (IFRS) 0 ( ) ( ) (ROC) (ROC) (IFRS) (IFRS) (IFRS) ( ) ANNUAL REPORT 11

14 , ELEVEn CITY CAFE CITY MUJIMister DonutDuskin Starbucks 7-ELEVEn ibon ibon APP icash2.0 OPENPOINT ELEVEn , ELEVEn ,600 (Mindanao) ANNUAL REPORT

15 Letter to Shareholders 40 (Starbucks Reserve Roastery and Tasting Room) ( ) ELEVEn O2O(Online to Offline) A++ 5% MSCI ELELVEn 2015 CSR ISO ELEVEn 7-ELEVEn 1,900 1,200 7-ELEVEn ( ) 2015 ANNUAL REPORT 13

16 ( ) 1988 EOS ELEVEn 1990 ( ) 7-ELEVEn DUSKIN ( ) ,000 ( ) 1996 POS 1997 ( ) Starbucks ( ) ,000 ( ) ( ) ( ) ( ) ELEVEn ( ) 7-ELEVEn (Philippine Seven Corp.) ,000 7-ELEVEn CAS POS 7-ELEVEn icash 7-ELEVEn ( ) ( ) ( ) , ibon ( ) ( ) ELEVEn Light Down 4,000 7-ELEVEn CITY CAFE 1,000 ; ( ) 7-ELEVEn OPEN ( ) ( ) 7-ELEVEn 15 ; 6 ; 2009 ; Outstanding Corporate Social Innovation ELEVEn ANNUAL REPORT

17 Corporate Overview ELEVEn ibon ibon ibon Mart 7-ELEVEn ELEVEn ELEVEn ibon ibon POS POS 7-ELEVEn 7-ELEVEn ELEVEn MAS 7-ELEVEn i B2C ibon ibon APP 7-ELEVEn 1, A++ 5% CSR 2015 ISO ELEVEn CITY CITY CAFE Cheers 2016 Top ( ) icashicash Mister Donut 2015 ANNUAL REPORT 15

18 ( ) ( ) 7-ELEVEn 7-ELEVEn ANNUAL REPORT

19 Corporate Governance ( ) ( ) ( ) ( ) ,996, % 471,996, % ( ) ( ) ,032, % 1,032, % 1,014, % ( ) ( ) ( ) ( ) ( ) ( ) ,876, % 5,036, % ,014, % 1,014, % 1,032, % Marymount College,USA ( ) ( ) ( ) ( ) ( ) ( ) ( ) ,652 13,652 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) , ( ) ( ) ( ) ( ) ( ) 78 ( ) ANNUAL REPORT 17

20 Corporate Governance (1) (2) ( ) (3) (4) (5) (6) (7) (8) (9) 30 (10) (4.64%) (3.73%) ( ) (3.16%) (2.60%) (2.27%) (2.16%) (1.64%) (1.57%) (1.55%) (1.52%) (61.61%) (20.13%) (13.41%) (1.61%) (1.19%) (1.07%) (0.98%) (61.61%) (20.13%) (13.41%) (1.61%) (1.19%) (1.07%) (0.98%) ANNUAL REPORT

21 Corporate Governance ( ) ( ) ,652 ( ) ( ) , ,121 ( ) ( ) , , ANNUAL REPORT 19

22 Corporate Governance ( ) 1. ( ) (A) (B) (C) (D) ABC D (E) (F) (G) ( ) / (H) (I) ABC DEF G () 2,230 2, , , % 1.73% 1.67% 1.73% 960 ( ) 70,122 75, ,800 5, % 0.98% 0.91% 0.98% ( ) ( ) / ABC ABC DEF D G (A) (G) (B) (C) (D) (E) (F) ( ) (H) (I) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( )/ 1,005 2,360 12,898 12,898 4,933 5, % 0.25% 37,571 37, ,216 2, % 0.74% 960 ( ) ( )/ ( ) ( ) ( ) ( ) ( ) ( )/ ( ) ( ) : 2015 ( ) ANNUAL REPORT

23 Corporate Governance 2,000,000 (A+B+C+D) (A+B+C+D+E+F+G) 2,000,000 5,000,000 5,000,000 10,000,000 10,000,000 15,000,000 ( ) ( ) ( ) ( ) 15,000,000 30,000,000 30,000,000 50,000,000 50,000, ,000, ,000, / (A) (B) (C) ( ) (D) ( ) ABC D 23,417 25,337 1,421 1,421 41,963 41,963 5,787 5, % 0.90% ( ) ,000,000 2,000,000 5,000,000 5,000,000 10,000,000 10,000,000 15,000,000 15,000,000 30,000,000 30,000,000 50,000,000 50,000, ,000, ,000, ANNUAL REPORT 21

24 Corporate Governance / ( ) 13,436 13, % ( ) ( ) ( ) ( ) ( ) ( ) 2014 ( ) 3.30% 0.88% 3.45% 0.90% 5.72% 1.02% 5.92% 1.04% ,238, ,090, (1) (2) ( 42 ) (3) ANNUAL REPORT

25 Corporate Governance ( ) 7 A ( ) ( ) / ( ) % ( ) % ( ) % ( ) % ( ) % ( ) % ( ) % ( ) % ( ) % ( ) % ( ) 0 2 0% ( ) % ( ) 0 2 0% ( ) % % % % ANNUAL REPORT 23

26 Corporate Governance ( ) 7 A (%) / ( ) ( ) Team ANNUAL REPORT

27 Corporate Governance CSR Team ANNUAL REPORT 25

28 Corporate Governance vs. 3 3 SGVUpdates on Philippine Practices on Corporate Governance & Enterprise Risk Management MSCI MSCI "Best in class" A++ 5% 7. Team /24 vs. 3 10/ / /24~11/25 ( ) 12 07/29 SGV & Co. Philippines Updates on Philippine Practices on Corporate Governance & Enterprise Risk Management ANNUAL REPORT

29 Corporate Governance 12/ / / / / /17 3 ( ) (1) (2) (3) (4) (5) (6) (7) (8) (1) 3 (2) ( ) ( ) (%)( / ) ( ) % % % ( ) 2015 ANNUAL REPORT 27

30 Corporate Governance ( ) CSR 2012 CSR CSR CSR CSR LED : (GHG Protocol) ANNUAL REPORT

31 Corporate Governance PCSC ( ) ANNUAL REPORT 29

32 Corporate Governance team CSR ( ISO 22000/ HACCP/CAS ) CSR TFDA 6 ( 48 ) TAF 3 ( ) ( / / / / / ) ISO (GRI) ANNUAL REPORT

33 Corporate Governance ( ) , % 2015 ANNUAL REPORT 31

34 Corporate Governance ( ) 7-ELEVEn ( ) ( ) ( ) 1. ( ) ANNUAL REPORT

35 Corporate Governance (1) 2014 (2) ,011 5, (3) : (4) ( ) ( ) ( ) : (5) : 2. ( ( ) ( ) ( ) ) (1) ( ( ) 2015 ( ) ( ) CSR 2015 ANNUAL REPORT 33

36 Corporate Governance ( ) 2015 (2) ( ) ( ) (3) ( ) 2014 (4) ( ) ( ) ( ) ( ) (5) ( ) ANNUAL REPORT

37 Corporate Governance ( ) ( ) ( ) ( ) ANNUAL REPORT 35

38 Corporate Governance ( ) , ,000 4,000 3,495 3, ,000 6, ,000 8, ,000 10, ,000 11,827 11,827 11,827 3,495 15,322 11,827 3,495 3, CSR ( ) ( ) ( ) ANNUAL REPORT

39 Corporate Governance ( ) ( ) ( ) 120, , ( ) ( ) ( ) / / ( ) ( ) ( ) 0 0 ( ) 0 0 ( ) ( ) ( ) ( ) ( ) ( ) ( ) 0 0 ( ) -9, ( ) ( ) ( ) ( ) 2015 ANNUAL REPORT 37

40 Corporate Governance ( ) ( ) 471,996, % % % ( ) : 1,032, % 1,014, % % ( ) : % % % ( ) : % % % ( ) : 13, % % % ( ) : % % % ( ) : % % % ( ) : % % % ( ) : % % % ( ) : % % % 21,486, % % % FS 19,323, % % % 18,334, % % % 15,718, % % % 13,682, % % % 11,605, % % % 9,569, % % % 9,022, % % % 8,899, % % % ANNUAL REPORT

41 Corporate Governance : / % 138,899, % % 138,899, % 8,746, % 740, ,486, % ( ) 40,000, % % 40,000, % ( ) 10,000, % % 10,000, % ( ) 10, % % 10, % ( ) 2,500, % % 2,500, % ( ) 10,847, % % 10,847, % ( ) 6,511, % % 6,511, % ( ) 1,500, % % 1,500, % ( ) 20,000, % % 20,000, % ( ) 1,500, % % 1,500, % ( ) 12,244, % % 12,244, % 9, % % 9, % ( ) 32,500, % % 32,500, % ( ) 48,519, % % 48,519, % ( ) 24,382, % % 24,382, % ( ) % % % ( ) 55,858, % 13,046, % 68,905, % ( ) 22,121, % % 22,121, % ( ) 103,496, % 29,570, % 133,066, % ( ) 1,049, % % 1,050, % ( ) 27,999, % 12,000, % 40,000, % ( ) 19,563, % 6,521, % 26,084, % ( ) 25,714, % % 25,714, % ( ) 7,874, % % 7,875, % ( ) 10,199, % % 10,200, % ( ) 8,669, % % 8,670, % ( ) 9,999, % % 10,000, % ( ) 7,500, % % 7,500, % ( ) 1,833, % 2,833, % 4,666, % ( ) 10,691, % 7,127, % 17,818, % ( ) 6,429, % 5,144, % 11,574, % ( ) 72,000, % 108,000, % 180,000, % ( ) 19,930, % 72,120, % 92,050, % ( ) 130,801, % 137,511, % 268,312, % ( ) 263,387, % 561,431, % 824,818, % ( ) 750, % % 750, % ( ) 44,100, % 942,430, % 986,530, % ( ) 108, % 89,574, % 89,683, % 2015 ANNUAL REPORT 39

42 ( ) 1. / / 2002/ ,000,000 9,000,000, ,031,899 7,720,318, / ,000,000 9,000,000, ,499,471 8,584,994, / ,000,000 9,600,000, ,160,436 9,151,604, / ,050,000,000 10,500,000,000 1,039,622,255 10,396,222, (91) ( ) (92) ( ) ,000, ,396,222, ,039,622,255 10,377,745 1,050,000,000 ( ) / , , ,159,010 34,236, ,227,195 1,039,622, % 0.00% 55.81% 3.29% 40.90% 100% ( ) / ,571 1,895, % 1,000 5,000 7,013 13,125, % 5,001 10, ,320, % 10,001 15, ,163, % 15,001 20, ,203, % 20,001 30, ,091, % 30,001 50, ,993, % 50, , ,648, % 100, , ,518, % 200, , ,580, % 400, , ,848, % 600, , ,565, % 800,001 1,000, ,106, % 1,000, ,560, % 18,665 1,039,622, % ANNUAL REPORT

43 Fund Raising ( ) ,996, % 21,486, % 19,323, % 18,334, % 15,718, % 13,682, % 11,605, % 9,569, % 9,022, % 8,899, % ( ) ( ) 1. (1) ( ) ( ) ( ) 1,039,622,255 1,039,622,255 1,039,622,255 ( ) ( ) ( ) 8.74 ( ) ( ) 0 ( ) 0 ( ) ( ) 3.15% ( ) ANNUAL REPORT 41

44 Fund Raising (2) 3 50%~100% , ( ) ( ) (1) 4 4,394 9, ,832 1,652 (2) 443, , , , ,120 6, ,040 2, ANNUAL REPORT

45 Fund Raising ( ) ( ) 16,252 16,252 ( ) ( ) : ( ) ( ) ( ) ( ) ( ) ( ) ( ) ANNUAL REPORT 43

46 ( ) 1. (1) F (2) F (3) F (4) F (5) F (6) IZ01010 (7) F (8) F (9) JE01010 (10) IE01010 (11) I (12) F (13) F (14) F (15) F (16) JZ99030 (17) F (18) A (19) F (20) F (21) F (22) F (23) F (24) JA01010 (25) F (26) G (27) IZ14011 (28) JZ99050 (29) IZ99990 (30) F (31) F (32) ZZ99999 (33) F (34) F (35) F (36) F (37) F (38) G (39) I (40) I (41) F (42) F (43) F (44) JA01990 (45) F (46) I (47) IZ09010 (48) J (49) F (50) F (51) F (52) I (53) J (54) J ( ) (55) IZ12010 (56) JA03010 (57) F (58) F ,407, % 132,826, % 57,525, % 59,938, % 2,323, % 2,233, % 10,181, % 10,483, % 200,438, % 205,481, % IFRS ANNUAL REPORT

47 Operating Highlights 3. ( ) ( ) CITY CAFE CITY CAFE icash OPENPOINT OPENPOINT ibon ibon ibon APP ELEVEn 7-ELEVEn ibon mart ( ) % 0.75% % (CPI) 0.31% % % % 1 1, % 1, % 1, % % ( ) 0.79% 3.13% 2.25%3C 2015 ANNUAL REPORT 45

48 Operating Highlights 2015 OK 5,028 2,972 1, , (1) (2) Know-how ( ) 1. ibon ibon APP 2. 7-ELEVEn MYDAY Gogoro 3. OPENPOINT Pi O2O APP 7-11 APP , ANNUAL REPORT

49 Operating Highlights ( ) 1. (1) (2) (3) (4) 2. (1) (2) (3) (4) (5) ( ) 1. ( ) % 3. (1) (2) (3) (4) (5) IT Infra (6) (7) 2015 ANNUAL REPORT 47

50 Operating Highlights 4. / (1) (2) (3) ( ) ( ) ( ) ( ) (1) ( ) 13,987,629 10% ( ) 13,988,419 10% 137,779, % 139,200, % 34,844, % IFRS 2014 (2) ( ) ANNUAL REPORT

51 Operating Highlights ( ) ,407, ,826,559 57,525,919 59,938,346 2,323,032 2,233,152 10,181,766 10,483, ,438, ,481,317 ( ) ,662 12,365 12,582 3,894 4,263 4,450 14,984 15,878 14,976 29,540 32,506 32, % 0.04% 0.03% 8.21% 9.17% 8.49% 66.41% 66.88% 65.26% 22.51% 22.11% 23.86% 2.86% 1.81% 2.36% ( ) ANNUAL REPORT 49

52 Operating Highlights ,693 40, ,958 16, , ,439 33, , , , (1) (2) (3) ( ) ( ) (CSR) ( ) (1) 2 9 (2) 1 6 (3) 2 6 (4) 1 3 (5) ANNUAL REPORT

53 Operating Highlights ( ) 1. : ( )/ -PLA 16, , , ,477 1,066 T5 26,290 / 370 / 2, , , , , ,280 29,081 73,361 FCS 26,123 25,757 51, / 9.0 3,146 3,146 2,974 17, ( / / )429 15,025 15,025 1, ,046 52,437 53, , , , , ANNUAL REPORT 51

54 Operating Highlights ( ) 1. (1)104 1,477 3, / 214 / (2) , / 631 / (3) ,280 2,030 (4)104 1,066 95, / 507 / (5) , / 117 / (6)104 T5 26,290 20, / 149 / (7)104 / 2, ,772 ( ) (RoHS) (RoHS) ( ) (1) (76) ANNUAL REPORT

55 Operating Highlights (2) (3) 2009, (4) , (1) (2) (3) (4) (5) (6) 5. (1) ( ) 45 ( ) 2015 ANNUAL REPORT 53

56 Operating Highlights (2) (3) ( (1)) 6% ( ) (1) (2) (3) (4) (5) (6) (7) (8) ANNUAL REPORT

57 Operating Highlights ELEVEn,INC ~ 1. 7-ELEVEn, INC. 7-ELEVEn 2. 7-ELEVEn, INC. 7-ELEVEn, INC ~ ~ ~ , ~ ~ ~ ~ ~ ~ ~ ANNUAL REPORT 55

58 ( ) ( ) ( ) ,838,586 25,197,126 26,242,755 28,671,817 9,210,594 9,118,823 9,735,711 8,953, , , , ,179 22,935,410 22,637,051 22,777,068 23,425,548 56,380,559 57,418,268 59,206,673 61,407,095 29,849,885 27,872,628 27,664,928 29,156,110 34,892,053 34,110,362 34,942,284 5,693,976 5,805,764 5,029,271 5,137,299 35,543,861 33,678,392 32,694,199 34,293,409 40,586,029 39,916,126 39,971,555 10,396,223 10,396,223 10,396,223 10,396, , ,234 7,031 7,733 9,153,181 11,886,156 15,400,786 16,117,194 4,111,013 5,648,422 8,123, , , , ,536 20,836,698 23,739,876 26,512,474 27,113,686 15,794,530 17,502,142 19,235,118 5 ( ) IFRS ANNUAL REPORT

59 Financial Information ( ) ( ) ( ) ,145,793 46,451,616 47,066,566 49,022,957 50,060,573 21,375,351 21,542,772 22,107,291 22,339,376 22,233,447 1,395,529 1,205,388 1,197,505 1,150,914 1,139,864 14,299,511 14,298,192 15,472,864 16,869,465 16,876,389 82,216,184 83,497,968 85,844,226 89,382,712 90,310,273 49,252,124 47,136,578 47,334,489 49,685,820 47,531,678 54,294,292 53,374,312 54,611,845 8,812,427 8,862,950 8,216,760 8,605,390 9,027,921 58,064,551 55,999,528 55,551,249 58,291,210 56,559,599 63,106,719 62,237,262 62,828,605 20,836,698 23,739,876 26,512,474 27,113,686 29,548,178 10,396,223 10,396,223 10,396,223 10,396,223 10,396, , ,234 7,031 7,733 7,733 9,153,181 11,886,156 15,400,786 16,117,194 18,564,440 4,111,013 5,648,422 8,123, , , , , ,782 3,314,935 3,758,564 3,780,503 3,977,816 4,202,496 24,151,633 27,498,440 30,292,977 31,091,502 33,750,674 19,109,465 21,260,706 23,015,621 5 ( ) IFRS ANNUAL REPORT 57

60 Financial Information ( ) ,581,358 23,703,570 19,635,754 20,870,339 8,540,837 9,210, , ,969 2,298,263 2,396,992 52,278,568 56,577,464 25,496,055 29,330,748 30,486,241 34,372,916 3,400,000 1,200,000 2,688,204 3,136,306 31,584,259 33,667,054 36,574,445 38,709,222 10,396,222 10,396,222 5,082 5,082 11,061,826 12,847,558 6,071,640 7,805,390 49,917 48, , ,133-51, , , ,213 20,694,309 22,910,410 15,704,123 17,868,242 ( ) ( ) ,184,876 45,131,133 9,515,634 9,328,594 18,763,844 21,435,776 1,141,578 1,493,434 3,767,727 3,823,803 74,373,659 81,212,740 42,845,923 48,173,129 47,836,109 53,215,297 3,958,774 2,263,568 3,345,158 4,141,739 50,149,855 54,578,436 55,140,041 59,620,604 10,396,222 10,396,222 5,082 5,082 11,061,826 12,847,558 6,071,640 7,805,390 49,917 48, , ,133-51, , , ,213 20,694,309 22,910,410 3,529,495 3,723,894 24,223,804 26,634,304 19,233,618 21,592, ANNUAL REPORT

61 Financial Information ( ) ( ) ( ) ,760, ,998, ,330, ,407,688 39,779,492 41,082,720 43,179,892 45,109,265 5,955,560 6,293,799 6,300,851 6,412, ,653 2,835,388 4,011,268 3,154,631 6,929,213 9,129,187 10,312,119 9,566,746 5,915,636 8,036,752 9,090,462 8,238,993 5,915,636 8,036,752 9,090,462 8,238, ,437-71,362-59, ,127 6,269,073 7,965,390 9,031,143 7,877, ( ) IFRS 2014 ( ) ( ) ( ) ( ) 192,602, ,610, ,438, ,481,317 51,519,542 63,214,670 63,422,059 62,658,847 66,280,867 16,675,396 8,767,877 10,196,565 9,504,879 9,609,813 2,518, ,693 1,096,231 2,843,845 2,071, ,088 8,606,184 11,292,796 12,348,724 11,681,803 3,260,509 6,756,260 9,242,293 10,248,160 9,442,454 2,743,265 6,756,260 9,242,293 10,248,160 9,442,454 2,743, ,437-72,378-60, ,305-12,754 6,915,697 9,169,915 10,187,871 9,005,149 2,730,511 5,915,636 8,036,752 9,090,462 8,238,993 2,447, ,624 1,205,541 1,157,698 1,203, ,019 6,269,073 7,965,390 9,031,143 7,877,866 2,434, ,624 1,204,525 1,156,728 1,127, , ( ) IFRS ANNUAL REPORT 59

62 Financial Information ( ) $122,712,725 $134,569,525 38,275,309 39,408,208 6,074,940 5,785,988 2,285,947 3,159, ,422-1,165,195 7,430,465 7,779,949 6,352,410 6,789,362 6,352,410 6,789,362 ( ) ( ) ( ) ,251, ,263,975 60,367,967 63,219,746 8,919,750 8,727,160 1,309,675 2,541,845-1,267,767-1,795,277 8,961,658 9,473,728 7,158,919 7,623,507 6,352,410 6,789,362 ( ) ANNUAL REPORT

63 Financial Information ( ) ( ) ANNUAL REPORT 61

64 Financial Information ( ) ( ) ( ) (%) (%) (%) (%) ( )( ) ( ) ( ) ( ) ( ) ( ) (%) (%) (%) (%) ( ) (%) (%) (%)( ) ( ) 64 : ANNUAL REPORT

65 Financial Information ( ) ( ) ( ) ( ) (%) (%) (%) (%) ( )( ) ( ) ( ) ( ) ( ) ( ) (%) (%) (%) (%) ( ) (%) (%) (%) ( ) ANNUAL REPORT 63

66 Financial Information (1) (2) (1) (2) (3) (1) ( ) ( ) (2) 365 (3) (4) ( ) ( ) (5) 365 (6) (7) (1) (2) (3) (4) (1) (2) ( ) (3) ( ) ( ) (1) ( ) (2) ( ) ( ) (%) (%) (%) (%) ( )( ) ( ) ( ) ( ) ( ) ( ) (%) (%) (%) (%) ( ) (%) (%) (%) ANNUAL REPORT

67 Financial Information ( ) ( ) (%) (%) (%) (%) ( )( ) ( ) ( ) ( ) ( ) ( ) (%) (%) (%) (%) ( ) (%) (%) (%) (1) (2) (1) (2) (3) (1) ( ) ( ) (2) 365 (3) (4) ( ) ( ) (5) 365 (6) (7) (1) (2) (3) (4) (1) (2) ( ) (3) ( ) ( ) (1) ( ) (2) ( ) 2015 ANNUAL REPORT 65

68 Financial Information ~ ~ ANNUAL REPORT

69 ( ) 2014 ( ) 2015 ( ) $47,066,566 $49,022,957 1,956, % 22,107,291 22,339, , % 1,197,505 1,150,914-46, % 15,472,864 16,869,465 1,396, % 85,844,226 89,382,712 3,538, % 47,334,489 49,685,820 2,351, % 8,216,760 8,605, , % 55,551,249 58,291,210 2,739, % 10,396,223 10,396, % 7,031 7, % 15,400,786 16,117, , % 26,512,474 27,113, , % 30,292,977 31,091, , % IFRS ( ) 2014 ( ) 2015 ( ) $200,438,379 $205,481,317 $5,042, % 62,658,847 66,280,867 3,622, % 9,504,879 9,609, , % 2,843,845 2,071, , % 12,348,724 11,681, , % 10,248,160 9,442, , % 60, , , % 10,187,871 9,005,149-1,182, % 9,090,462 8,238, , % 9,031,143 7,877,866-1,153, % IFRS (1) (2) ANNUAL REPORT 67

70 Financial Status, Operating Results and Risk Management ( ) 21,450,797 16,356,547 (14,817,030) 22,990, ( ) ( ) 22,990,314 17,606,499 (15,957,953) 24,638, ( ) ,161,078 1,564,651 1,119,643 1,216,830 1,033,137 1,033,137 P.O.S. 517, , ,942, , , , , ,408 / 3,675, , , , , , ,004,235 1,448,321 1,755,059 1,800,855 1,023, , , ,567 2,710, ,305 1,130, ,170 ( P.O.S. ) 2,008, ,696 1,165, ,339 1,961, , , ,237 ( ) 1,529, , , , ANNUAL REPORT

71 Financial Status, Operating Results and Risk Management ( ) ( ) 3,206,209 1,031, ( ) 3,302,395 1,065, ( ) 3,401,467 1,100, ( ) 3,503,511 1,136, ( ) 3,608,617 1,174, ( ) ,874 7-ELEVEn 1,602 1,200 ( ) ( ) ( ) ( 1) 315,125 ( ) 870,200 ( 1) 307,797 ( 1) 301,207 1 ( ) 2016 ( ) ( ) ( ) ANNUAL REPORT 69

72 Financial Status, Operating Results and Risk Management ( ) ( ) 1. (1) 2016 GDP 1.47% (2) (3) 2015 (CPI) -0.31% 2016 (CPI) 0.69% ANNUAL REPORT

73 Financial Status, Operating Results and Risk Management 2. (1) (2) a. b. c. (3) a. b. 3. (1) (2) 2015 ANNUAL REPORT 71

74 Financial Status, Operating Results and Risk Management (3) ,192 CRM / /12 ibon 2, /07 1, /12 O2O 1, /12 1, /12 O2O 4. (1) (2) (1) (2) 7-11 (3) ANNUAL REPORT

75 Financial Status, Operating Results and Risk Management A++ 5% MSCI ANNUAL REPORT 73

76 ~ ~

77 (%) 4.80% 4.81% (%) 6.92% 6.18% ( ) (%) 36.16% 30.73% ( ) ( ) ( ) ( 100%) ( ) 1. (1) (2) 2. (1) (2) (3) 3. (1) (2) 4. / (1) 20% (2) 2015 ANNUAL REPORT 75

78 SupplementaryDisclosures (3) (4) (5) (6) (7) (8) ( ) CIA1 (CISA)1 (PMP)1 : 13 : 3 4 :1 (ISO LA) (TPIPAS) 1 TPIPAS 2 TPIPAS 2 ( ) ANNUAL REPORT

79 ANNUAL REPORT 77

80 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Uni-President (Vietnam) Co.,Ltd.Uni-President (Thailand) Ltd.Uni-President (Philippines) Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Cayman President Holdings Ltd.Kai Yu(BVI) Investment Co.,LtdPresident Packaging Holdings Ltd.Uni-President Southeast Asia Holdings Ltd.PT ABC President IndonesiaPresident Energy Development (Cayman Islands) Ltd. Uni-President Asia Holdings Ltd. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) AndroSciences Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Tanvex Biologics, Inc. Uni-Home Tech Corp.President Life Sciences Cayman Co., Ltd.President (BVI) International Investment Holdings Ltd.President Energy Development (Cayman Islands) Ltd. ( ) ( ) ( ) ( ) ( ) ( ) President Global Corp. ( ) ( ) PT. Uni President Indonesia ( ) ( ) ( ) ( ) Uni-President (Vietnam) Co.,Ltd.Uni-President (Thailand) Ltd.Uni-President Marketing Co., Ltd.PT. ABC President Indonesia ANNUAL REPORT

81 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) President Energy Development (Cayman Islands) Ltd.Uni-President (Vietnam) Co.,Ltd.Uni-President (Thailand) Ltd. ( ) ( ) Uni-President Foodstuff (BVI) Holdings Ltd. ( ) ( ) ( ) ( ) Uni-President (Thailand) Ltd.Uni- President (Philippines) Corp. ( ) ( ) ( ) ( ) Uni-President (Vietnam) Co.,Ltd. ( ) President International Trade & Investment Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 2015 ANNUAL REPORT 79

82 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ANNUAL REPORT

83 ( ANNUAL REPORT 81

84 ANNUAL REPORT

85 ANNUAL REPORT 83

86 (105) ,800,620 5,718, % 6.7% ,924,596 13,281, % 6.6% ,078,101 5,021, % 5.8% ( ) 218, , % 1.7% ( ) (88) ( ) ANNUAL REPORT

87 ( ) ( ) % % % 1100 ( ) $ 22,990, $ 21,450, $ 20,235, ( ) 5,620, ,535, ,931, ( ) 4,294, ,148, ,703, ,336, ,655, ,216, ( ) 6, , X ( ) 11,550, ,772, ,997, ,223, ,246, ,068, ,171, ,000, ,257, , XX 49,022, ,066, ,993, ( ) 923, , , ( ) 27,526-35,776-44, ( ) 10,598, ,409, ,074, ( )( ) 22,339, ,107, ,919, ( ) 1,416, ,202, ,157, ( )( ) 1,150, ,197, ,204, ( ) 1,149, ,008, , ( ) 2,753, ,818, ,747, XX 40,359, ,777, ,947, XXX $ 89,382, $ 85,844, $ 81,940, ( ) $ 2,454,299 3 $ 1,655,957 2 $ 1,873, , , , ,146, ,207, ,617, ,933, ,121, ,938, ,276, ,176, ,146, ( ) 21,528, ,927, ,868, ( ) 1,190, ,214, , , ( ) 3,761, ,630, ,686, XX 49,685, ,334, ,703, ( ) 664, , ,826, ( ) 38,195-42,043-31, ( )( ) 7,902, ,244, ,886, XX 8,605, ,216, ,744, XXX 58,291, ,551, ,447, ( ) ,396, ,396, ,396, ( ) ,733-7, ,234 1 ( ) ,384, ,493, ,931, , ,733, ,907, ,612,191 7 ( ) , , , XX 27,113, ,512, ,735, XX 3,977, ,780, ,756, XXX 31,091, ,292, ,492, X2X $ 89,382, $ 85,844, $ 81,940, ANNUAL REPORT 85

88 ( ) ( ) % % 4000 ( ) $ 205,481, $ 200,438, ( ) ( 139,200,450 ) ( 68 ) ( 137,779,532 ) ( 69 ) ,280, ,658, ( )( ) 6100 ( 48,241,396 ) ( 23 ) ( 45,474,523 ) ( 23 ) 6200 ( 8,429,658 ) ( 4 ) ( 7,679,445 ) ( 4 ) 6000 ( 56,671,054 ) ( 27 ) ( 53,153,968 ) ( 27 ) ,609, ,504, ( ) 1,751, ,606, ( ) ( 817,748 ) ( 1 ) 461, ( )( ) ( 107,121 ) - ( 99,830 ) ( ) 1,245, , ,071, ,843, ,681, ,348, ( ) ( 2,239,349 ) ( 1 ) ( 2,100,564 ) ( 1 ) ,442, ,248, $ 9,442,454 5 $ 10,248,160 4 ( ) 8311 ( $ 359,692 ) - ( $ 238,827 ) ( 16,749 ) - ( 5,884 ) ,535-39, ( 319,906 ) - ( 205,475 ) ( ) ( 16,434 ) - 189, ( ) ( 74,866 ) - ( 66,394 ) ( 19,400 ) - 17, ( )( ) ( 6,699 ) - 4, ( 117,399 ) - 145, ( ) ( $ 437,305 ) - ( $ 60,289 ) $ 9,005,149 5 $ 10,187, $ 8,238,993 4 $ 9,090, ,203, ,157,698 1 $ 9,442,454 5 $ 10,248, $ 7,877,866 4 $ 9,031, ,127, ,156,728 1 $ 9,005,149 5 $ 10,187,871 4 ( ) 9750 $ 7.92 $ $ 7.90 $ ANNUAL REPORT

89 ( ) $ 10,396,223 $ 890,234 $ 5,931,412 $ 338,453 $ 5,616,291 $ 17,945 $ 549,318 $ 23,739,876 $ 3,758,564 $ 27,498, ( 4,100 ) - - ( 4,100 ) ( 1,690 ) ( 5,790 ) ,396, ,234 5,931, ,453 5,612,191 17, ,318 23,735,776 3,756,874 27,492, ,629 - ( 561,629 ) ( 338,453 ) 338, ( 883,679 ) - - ( 5,354,055 ) - - ( 6,237,734 ) - ( 6,237,734 ) ( 16,904 ) - - ( 16,904 ) - ( 16,904 ) ( 283 ) ,090, ,090,462 1,157,698 10,248,160 ( ) ( 200,490 ) 198,402 ( 57,231 ) ( 59,319 ) ( 970 ) ( 60,289 ) ( 1,133,099 ) ( 1,133,099 ) $ 10,396,223 $ 7,031 $ 6,493,041 $ - $ 8,907,745 $ 216,347 $ 492,087 $ 26,512,474 $ 3,780,503 $ 30,292, $ 10,396,223 $ 7,031 $ 6,493,041 $ - $ 8,907,745 $ 216,347 $ 492,087 $ 26,512,474 $ 3,780,503 $ 30,292, ,124 - ( 891,124 ) ( 7,277,356 ) - - ( 7,277,356 ) - ( 7,277,356 ) ,238, ,238,993 1,203,461 9,442,454 ( ) ( 245,229 ) ( 7,021 ) ( 108,877 ) ( 361,127 ) ( 76,178 ) ( 437,305 ) ( 929,970 ) ( 929,970 ) $ 10,396,223 $ 7,733 $ 7,384,165 $ - $ 8,733,029 $ 209,326 $ 383,210 $ 27,113,686 $ 3,977,816 $ 31,091, ANNUAL REPORT 87

90 ( ) 103 $ 11,681,803 $ 12,348,724 ( ) ( 2,223 ) ( 87 ) ( ) 12,498 2,976 ( ) 5,069,564 4,739, , ,562 ( ) 14,757 15, ,121 99,830 ( ) ( 1,245,307 ) ( 876,317 ) ( ) 2,055 ( 1,028,508 ) 5,705-75,984 49,426 ( ) ( 171,709 ) ( 158,410 ) ( ) ( 45,949 ) ( 40,017 ) ( ) 289, ,118 ( ) 14,485 91,651 ( )( ) - 100,000-4,279 ( ) 152,199 31,722 / 917, ,376 ( 23,214 ) ( 461,010 ) 329,712 ( 426,281 ) ( 778,015 ) ( 775,064 ) 63,278 ( 177,561 ) ( 743,411 ) ( 604,660 ) ( 60,593 ) ( 410,284 ) ( 88,786 ) 1,213,217 1,746, , , ,605 ( 18,638 ) ( 55,124 ) 17,849,019 15,509, , ,674 ( 2,351,356 ) ( 1,762,268 ) ( 106,135 ) ( 99,829 ) 799, ,098 16,356,547 14,492, ANNUAL REPORT

91 ( ) 103 $ 16,800 $ 4,667 13,130 1,450,000 ( 870,200 ) ( 138,300 ) 29,841 - ( ) ( 6,363,925 ) ( 6,090,022 ) 359, , ( 199,521 ) ( 68,670 ) ( 187,041 ) ( 151,317 ) ( 293,650 ) - ( 363,796 ) ( 137,637 ) ( 7,398,036 ) ( 5,411,017 ) ( ) 798,342 ( 217,828 ) ( ) ( 5,000 ) 95, , ,380 ( 517,772 ) ( 1,595,520 ) 284, ,308 ( 13,373 ) - 63, ( 146,282 ) 29,093 - ( 7,277,356 ) ( 6,237,734 ) - ( 783,688 ) ( 764,039 ) ( 7,411,973 ) ( 8,064,494 ) ( 7,021 ) 198,402 1,539,517 1,215,278 21,450,797 20,235,519 $ 22,990,314 $ 21,450, ANNUAL REPORT 89

92 ( ) ( ) ( ) ( ) ( ) 45.4% ( ) ( ) ( 9 ) 104 ( 2013 IFRSs) 2013 IFRSs ( ) ANNUAL REPORT

93 IFRSs IFRSs IFRSs $ 21,008,243 ($ 772,724 ) $ 20,235,519 (2) 21,542,772 ( 623,225 ) 20,919,547 (2) 7,837,184 1,236,888 9,074,072 (2) 33,109,769 ( 1,398,661 ) 31,711,108 (1)(2) $ 83,497,968 ($ 1,557,722 ) $ 81,940,246 ( ) $ 18,520,029 ($ 435,377 ) $ 18,084,652 (2) 19,460,674 ( 592,551 ) 18,868,123 (2) 18,018,825 ( 524,004 ) 17,494,821 (1)(2) 55,999,528 ( 1,551,932 ) 54,447,596 10,396,223-10,396, , ,234 11,886,156 ( 4,100 ) 11,882,056 (1) 567, ,263 3,758,564 ( 1,690 ) 3,756,874 (1) 27,498,440 ( 5,790 ) 27,492,650 $ 83,497,968 ($ 1,557,722 ) $ 81,940, ANNUAL REPORT 91

94 IFRSs IFRSs $ 22,369,629 ($ 918,832 ) $ 21,450,797 (2) 22,934,321 ( 827,030 ) 22,107,291 (2) 7,757,089 1,652,320 9,409,409 (2) 34,768,334 ( 1,891,605 ) 32,876,729 (1)(2) $ 87,829,373 ($ 1,985,147 ) $ 85,844,226 ( ) $ 19,870,593 ($ 572,724 ) $ 19,297,869 (2) 20,764,656 ( 837,163 ) 19,927,493 (2) 16,896,215 ( 570,328 ) 16,325,887 (1)(2) 57,531,464 ( 1,980,215 ) 55,551,249 10,396,223-10,396,223 7,031-7,031 15,404,280 ( 3,494 ) 15,400,786 (1) 708, ,434 3,781,941 ( 1,438 ) 3,780,503 (1) 30,297,909 ( 4,932 ) 30,292,977 $ 87,829,373 ($ 1,985,147 ) $ 85,844, IFRSs ( ) IFRSs $ 22,990,314 $ - $ 22,990,314 (2) 22,339,376-22,339,376 (2) 10,598,635-10,598,635 (2) 33,453,376 1,011 33,454,387 (1)(2) $ 89,381,701 $ 1,011 $ 89,382,712 ( ) $ 19,209,083 $ - $ 19,209,083 (2) 21,528,252-21,528,252 (2) 17,547,932 5,943 17,553,875 (1)(2) 58,285,267 5,943 58,291,210 10,396,223-10,396,223 7,733-7,733 16,120,688 ( 3,494 ) 16,117,194 (1) 592, ,536 3,979,254 ( 1,438 ) 3,977,816 (1) 31,096,434 ( 4,932 ) 31,091,502 $ 89,381,701 $ 1,011 $ 89,382, IFRSs 11 C (C1B) ANNUAL REPORT

95 IFRSs IFRSs 103 $ 207,989,021 ($ 7,550,642 ) $ 200,438,379 (2) ( 141,050,853 ) 3,271,321 ( 137,779,532 ) (2) ( 56,340,888 ) 3,186,920 ( 53,153,968 ) (2) 2,012, ,349 2,843,845 (2) 12,609,776 ( 261,052 ) 12,348,724 ( 2,367,021 ) 266,457 ( 2,100,564 ) (2) 10,242,755 5,405 10,248,160 ( ( 55,742 ) ( 4,547 ) ( 60,289 ) $ 10,187,013 $ 858 $ 10,187,871 $ 8.74 $ - $ 8.74 $ 8.72 $ - $ 8.72 (1) $1,185 $1,011 $6,975 $5,943 $4,100 $3,494 $1,690 $1, $6,501 $1,096 $4,547 (2) ( ) ( ) ( ) 2015 ANNUAL REPORT 93

96 ( ) 2013 / / ( ) ( IFRSs) ( ) 1. (1) (2) (3) 2. ( IFRSs) ANNUAL REPORT

97 ( ) 1. (1) (2) (3) (4) (5) ( BVI) (1) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ANNUAL REPORT 95

98 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (2) ( ) (3) BVI ( ) BVI ( ) BVI PCSC (Vietnam) Supermarket Ltd (4) BVI Presiclerc Limited( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( BVI) BVI ( ) ( ) Philippine Seven Corporation Philippine Seven Corporation Convenience Distribution Corporation (1) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) (5) ( ) ( ) ANNUAL REPORT

99 ( ) ( ) Presiclerc Limited( ) (6) (7) ( ) ( ) (7) (1) % 92.2% 100% (2) (3) (4) PCSC (Vietnam) Supermarket Ltd. (5) (6) (7) 50% % ANNUAL REPORT 97

100 ( ) 1. (1) (2) (3) (4) 2. (1) A. B. C. (2) (3) (4) ( ) 1. (1) (2) (3) (4) ANNUAL REPORT

101 2. (1) (2) (3) (4) ( ) ( ) ( ) ( ) ( ) (1) (2) (3) 2015 ANNUAL REPORT 99

102 3. (1) (2) (3) ( ) ( ) ( ) ( ) % ANNUAL REPORT

103 ( ) - ( ) : ANNUAL REPORT 101

104 ( ) ( ) ( ) ( ) ( ) ( ) ( ) (1) ANNUAL REPORT

105 (2) A. ) B. C ( ) % 10% 3. ( ) ANNUAL REPORT 103

106 ( ) ( ) ( ) $ 1,031,565 $ 963,089 $ 1,076,203 7,471,302 8,102,167 7,858,340 10,015,833 6,311,878 4,991,960 4,471,614 6,073,663 6,309,016 $ 22,990,314 $ 21,450,797 $ 20,235, ( ) $ 5,616,875 $ 6,534,175 $ 6,930,551 3,511 1,288 1,201 $ 5,620,386 $ 6,535,463 $ 6,931, $42,249 $41, ANNUAL REPORT

107 ( ) $ 4,512,401 $ 4,369,245 $ 3,885,938 ( 88,656 ) ( 102,297 ) ( 80,000 ) ( 128,880 ) ( 118,477 ) ( 102,384 ) $ 4,294,865 $ 4,148,471 $ 3,703, $ 101,639 $ 121,247 $ 58, ,842 14,323 4, ,426 4,475 7, ,740 $ 123,293 $ 140,045 $ 73, : (1) $128,880$118,477 $102,384 (2) : $ 118,477 $ 102,384 12,498 2,976 ( 2,095 ) , $ 128,880 $ 118,477 ( ) $ 77,729 $ - $ 77,729 11,650,678 ( 177,854 ) 11,472,824 $ 11,728,407 ($ 177,854 ) $ 11,550, $ 113,177 $ - $ 113,177 10,762,946 ( 103,585 ) 10,659,361 $ 10,876,123 ($ 103,585 ) $ 10,772, $ 154,024 $ - $ 154,024 9,920,985 ( 77,535 ) 9,843,450 $ 10,075,009 ($ 77,535 ) $ 9,997, ANNUAL REPORT 105

108 $ 137,385,989 $ 135,932,281 74,269 26,050 1,503,281 1,582, , ,097 $ 139,200,450 $ 137,779,532 ( ) $ 265,606 $ 265,606 $ 265,606 42,230 42,448 65, , , , , , , , ,429 $ 923,129 $ 998,108 $ 865, ($74,866) ($66,394) 2. ( ) ( ) $ 5,078,101 $ 5,021,414 $ 5,072,795 2,018,057 1,224,548 1,326, , , , , , ,000 97, , ,352 58,592 57,142 54,094 8,618,868 7,757,089 7,837, $ 1,495,870 $ 1,092,095 $ 849, , , ,716 76, ,056 78,722 1,979,767 1,652,320 1,236,888 $ 10,598,635 $ 9,409,409 $ 9,074, ANNUAL REPORT

109 1. : (1) $ 177,032 $ 163,814 (2) $ 1,032,126 $ 723,782 ( ) $ 2,026,495 $ 4,271,693 $ 4,895,140 $ 18,918,874 $ 11,523,905 $ 6,233,524 $ 47,869,631 - ( 1,331,990 ) ( 2,894,871 ) ( 11,678,597 ) ( 6,385,639 ) ( 3,471,243 ) ( 25,762,340 ) $ 2,026,495 $ 2,939,703 $ 2,000,269 $ 7,240,277 $ 5,138,266 $ 2,762,281 $ 22,107, $ 2,026,495 $ 2,939,703 $ 2,000,269 $ 7,240,277 $ 5,138,266 $ 2,762,281 $ 22,107, ,693 42, ,350 1,588,616 1,595,516 2,108,033 6,226,503 - ( 211 ) ( 71,826 ) ( 113,750 ) ( 225,920 ) ( 24,160 ) ( 435,867 ) - ( 233,326 ) 61, , ,800 ( 475,073 ) ( 273,776 ) - ( 166,604 ) ( 556,887 ) ( 2,166,047 ) ( 1,161,359 ) ( 1,018,667 ) ( 5,069,564 ) ( 146,253) 234 ( 6,180 ) ( 152,199 ) ( 3,600 ) ( 499 ) ( 414 ) ( 34,411 ) ( 12,262 ) ( 11,826) ( 63,012 ) $ 2,249,588 $ 2,581,358 $ 2,097,778 $ 6,604,969 $ 5,471,275 $ 3,334,408 $ 22,339, $ 2,249,588 $ 4,038,997 $ 5,459,989 $ 18,713,302 $ 12,242,425 $ 7,556,878 $ 50,261,179 - ( 1,457,639 ) ( 3,362,211 ) ( 12,108,333 ) ( 6,771,150 ) ( 4,222,470 ) ( 27,921,803 ) $ 2,249,588 $ 2,581,358 $ 2,097,778 $ 6,604,969 $ 5,471,275 $ 3,334,408 $ 22,339, $ 2,035,673 $ 4,334,528 $ 4,633,341 $ 18,193,033 $ 10,635,798 $ 5,092,910 $ 44,925,283 - ( 1,240,982 ) ( 2,615,017 ) ( 11,358,096 ) ( 5,997,163 ) ( 2,794,478 ) ( 24,005,736 ) $ 2,035,673 $ 3,093,546 $ 2,018,324 $ 6,834,937 $ 4,638,635 $ 2,298,432 $ 20,919, $ 2,035,673 $ 3,093,546 $ 2,018,324 $ 6,834,937 $ 4,638,635 $ 2,298,432 $ 20,919,547-42, ,036 2,437,210 1,581,549 1,625,282 6,094,343 ( 6,782 ) ( 7,725 ) ( 20,021 ) ( 66,653 ) ( 119,840 ) ( 8,674 ) ( 229,695 ) ( 3,988 ) ( 13,457 ) 98, , ,447 ( 382,299 ) ( 24,302 ) - ( 176,948 ) ( 506,053 ) ( 2,099,654 ) ( 1,143,298 ) ( 813,711 ) ( 4,739,664 ) ( 29,451 ) 586 ( 2,857 ) ( 31,722 ) 1,592 2,021 1,788 14,088 53,187 46, , $ 2,026,495 $ 2,939,703 $ 2,000,269 $ 7,240,277 $ 5,138,266 $ 2,762,281 $ 22,107, $ 2,026,495 $ 4,271,693 $ 4,895,139 $ 18,918,874 $ 11,523,905 $ 6,233,525 $ 47,869,631 - ( 1,331,990 ) ( 2,894,870 ) ( 11,678,597 ) ( 6,385,639 ) ( 3,471,244 ) ( 25,762,340 ) $ 2,026,495 $ 2,939,703 $ 2,000,269 $ 7,240,277 $ 5,138,266 $ 2,762,281 $ 22,107, ( ) ANNUAL REPORT 107

110 ( ) $ 902,270 $ 300,699 $ 1,202, , ,057 - ( 14,757 ) ( 14,757 ) $ 902,270 $ 513,999 $ 1,416, $ 898,282 $ 259,243 $ 1,157,525 3,988 56,962 60,950 - ( 15,506 ) ( 15,506 ) $ 902,270 $ 300,699 $ 1,202, $2,020,978,767 $2,259,829,661 2% 2.63% ( ) $ 600,546 $ 654,062 $ 639, , , , , ,187 69,770 $ 1,150,914 $ 1,197,505 $ 1,204, ( ) ( ) $ 2,320,964 $ 2,252,294 $ 2,065, , , ,446 42,230 55,616 62,196 96, , ,801 $ 2,753,955 $ 2,818,232 $ 2,747,696 ( ) $456,375 $343, $ - $ - $ 4,279 $ , , ,118-14,485-91, ,199-31,722 - $ 456,375 $ - $ 343,770 $ ANNUAL REPORT

111 ( ) $ 2,404, % 6.05% 50, % $ 2,454, $ 1,555, % 6.3% 100, % 1.24% $ 1,655, $ 1,873, % 6.44% ( ) $ 8,375,014 $ 8,054,655 $ 8,223,020 3,968,227 3,765,402 3,385,698 1,513,759 1,253,591 1,072, ,043 1,028,465 1,024, , , , , , , , , , , , ,123 4,365,676 3,591,717 3,217,353 $ 21,528,252 $ 19,927,493 $ 18,868,123 ( ) $ 1,098,233 $ 1,072,486 $ 1,025,008 ICASH 765, , , , , , , , , , , , , , , , , ,261 $ 3,761,906 $ 3,630,880 $ 3,686, ANNUAL REPORT 109

112 ( ) % 1% $ 513, % 2.385% 249, ,881 ( 97,970 ) $ 664, % 1.58% $ 752, % 2.525% 275,857 1,028,609 ( 98,568 ) $ 930, % 1.981% $ 1,855, % 2.94% 246,394 2,101,907 ( 275,522 ) $ 1,826, $8,407,408$7,096,571 $10,629,928 ( ) $ 4,105,592 $ 3,764,538 $ 3,580,835 3,055,919 2,771,917 2,598, , , , , , ,074 7,642 38,256 79, , , ,820 $ 7,902,284 $ 7,244,676 $ 6,886,819 ( ) ( ) %~9% Philippine Seven Corporation ANNUAL REPORT

113 (1) ($ 6,628,994 ) ($ 6,172,203 ) ($ 5,811,256 ) 2,523,402 2,407,665 2,230,421 ($ 4,105,592 ) ($ 3,764,538 ) ($ 3,580,835 ) (2) ($ 6,172,203 ) $ 2,407,665 ($ 3,764,538 ) ( 100,396 ) - ( 100,396 ) ( ) ( 128,274 ) 51,276 ( 76,998 ) 5,395-5,395 ( 6,395,478 ) 2,458,941 ( 3,936,537 ) ( ) - 11,927 11,927 ( 36,962 ) - ( 36,962 ) ( 325,477 ) - ( 325,477 ) ( 9,180 ) - ( 9,180 ) ( 371,619 ) 11,927 ( 359,692 ) - 181, , ,103 ( 128,494 ) 9, ,103 52, , ($ 6,628,994 ) $ 2,523,402 ($ 4,105,592 ) ($ 5,811,256 ) $ 2,230,421 ($ 3,580,835 ) ( 103,238 ) - ( 103,238 ) ( ) ( 121,540 ) 51,511 ( 70,029 ) 2,694-2,694 ( 6,033,340 ) 2,281,932 ( 3,751,408 ) ( ) - 11,275 11,275 ( 177,711 ) - ( 177,711 ) ( 47,551 ) - ( 47,551 ) ( 24,840 ) - ( 24,840 ) ( 250,102 ) 11,275 ( 238,827 ) - 211, , ,239 ( 97,319 ) 13, , , , ($ 6,172,203) $ 2,407,665 ($ 3,764,538 ) (3) ANNUAL REPORT 111

114 (4) % 2.00% 4.00% 3.00% 0.25% 0.25% 0.25% 0.25% ($ 224,656 ) $ 214,952 $ 231,373 ($ 221,647 ) ($ 161,638 ) $ 279,052 $ 275,836 ($ 159,721 ) (5) 105 $150,475 (6) ~16 1 $ 107, , , ,892,490 $ 10,061, % (1) % 22% 15% 22% (2) $811,949 $704,506 ( ) $10,500,000 1,050,000 $10,396, ,039,622,255 ( ) ANNUAL REPORT

115 ( ) 1. 10% 50% 100% 50% 100% : ( ) ( ) $ 891,124 $ 561,629-7,277,356 $ ,354,055 $ , , , , , ( ) $ 823,899-7,485,280 $ , , ( ) ( ) ( ) $ 216,347 $ 492,087 $ 708,434 - ( 74,866 ) ( 74,866 ) - ( 27,312 ) ( 27,312 ) - ( 6,699 ) ( 6,699 ) ( 14,933 ) - ( 14,933 ) 7,912-7, $ 209,326 $ 383,210 $ 592, ANNUAL REPORT 113

116 $ 17,945 $ 549,318 $ 567,263 - ( 66,394 ) ( 66,394 ) - 4,231 4,231-4,932 4, , ,470 12,932-12, $ 216,347 $ 492,087 $ 708,434 ( ) $ 184,982,474 $ 183,227,691 20,498,843 17,210,688 $ 205,481,317 $ 200,438,379 ( ) $ 553,587 $ 538, , , , ,410 45,949 40, , ,592 $ 1,751,552 $ 1,606,351 ( ) $ 32,266 $ 1,069,546 ( 75,984 ) ( 49,426 ) ( 456,375 ) ( 343,770 ) ( 317,655 ) ( 215,343 ) ($ 817,748 ) $ 461,007 ( ) $ 126,545,536 $ 126,616,874 19,569,448 18,249,046 15,880,747 14,387,268 9,830,549 9,293,292 5,446,628 5,094,226 4,036,540 4,154,280 14,562,056 13,138,514 $ 195,871,504 $ 190,933, ANNUAL REPORT

117 ( ) $ 16,250,592 $ 15,257,367 1,558,729 1,421, , , , ,588 $ 19,569,448 $ 18,249, % % 2% ( ) $443,949 $481,207 $148,322 $160, % 1.46% $443,949 $148, % 2% ( ) ( ) 1. (1) : $ 2,244,998 $ 2,122,891 72,585 2,380 ( ) 17,359 ( 5,665 ) 2,334,942 2,119,606 ( 95,593 ) ( 19,042 ) $ 2,239,349 $ 2,100,564 (2) : $ 6,699 ($ 4,932 ) ( 56,535 ) ( 39,236 ) ($ 49,836 ) ($ 44,168 ) 2015 ANNUAL REPORT 115

118 $ 2,539,032 $ 2,650,649 ( 414,161 ) ( 536,439 ) ( 8,262 ) - 10% 72,585 2,380 ( ) 17,359 ( 5,665 ) 32,796 ( 10,361 ) $ 2,239,349 $ 2,100, $ 26,565 $ 810 $ - $ 27,375 15,635 ( 497 ) - 15,138 23,837 11,222-35, ,767 90, ,195 ( 2,676 ) - ( 6,699 ) ( 9,375 ) 72,396 ( 906 ) - 71, ,517-56, , ,253 ( 32,796 ) - 80,457 13,076 23,484-36,560 1,008,370 91,745 49,836 1,149,951 ( 42,043 ) 3,848 - ( 38,195 ) ( 42,043 ) 3,848 - ( 38,195 ) $ 966,327 $ 95,593 $ 49,836 $ 1,111, $ 29,763 ($ 3,198 ) $ - $ 26,565 13,600 2,035-15,635 26,249 ( 2,412 ) - 23, ,694 24, ,767 ( 7,608 ) - 4,932 ( 2,676 ) 77,931 ( 5,535 ) - 72, ,281-39, , ,892 10, ,253 8,608 4,468-13, ,410 29,792 44,168 1,008,370 ( 31,293 ) ( 10,750 ) - ( 42,043 ) ( 31,293 ) ( 10,750 ) - ( 42,043 ) $ 903,117 $ 19,042 $ 44,168 $ 966, ANNUAL REPORT

119 / 93~104 $ 4,330,656 $ 4,330,656 $ 3,857, ~ / 92~103 $ 4,580,089 $ 4,580,089 $ 3,913, ~ / 92~102 $ 4,398,786 $ 4,398,786 $ 3,793, ~ $ 129,015 $ 81,398 $ 36, $1,312,218$1,204,864 $1,009, % % ( ) 104 ( ) ( ) $ 8,238,993 1,039,622 $ 7.92 $ 8,238,993 1,039,622-3,274 $ 8,238,993 1,042,896 $ ( ) ( ) $ 9,090,462 1,039,622 $ 8.74 $ 9,090,462 1,039,622-2,639 $ 9,090,462 1,042,261 $ ANNUAL REPORT 117

120 ( ) 1. 5~ $ 93,234 $ 57,482 $ 57, , , , , , ,621 $ 467,343 $ 345,008 $ 402, $ 9,406,358 $ 8,935,965 $ 424,191 $ 357, $ 8,403,055 $ 7,965,422 $ 7,452, ,302,142 26,156,809 25,365, ,869,558 13,089,149 12,224,445 $ 46,574,755 $ 47,211,380 $ 45,041, $ 295,246 $ 332,399 $ 1,234,907 $ 1,055, $580, ( ) $ 6,226,503 $ 6,094,343 1,028,465 1,024,144 ( 891,043 ) ( 1,028,465 ) $ 6,363,925 $ 6,090, ANNUAL REPORT

121 ( ) 45.4% ( ) $ 514,133 $ 517, , , , ,314 25,456 34,719 9,212 11,846 87,014 73,108 7,903 8,709 3,197 1,680 $ 1,536,736 $ 1,346, $ 13,988,419 $ 13,987, , ,849 4,225,744 4,184, , ,476 $ 19,433,749 $ 19,288, $ 177,174 $ 176,118 $ 178, , ,151 65,606 77,148 72,867 94,810 5,342 2,763 12,502 $ 424,722 $ 361,899 $ 351, ANNUAL REPORT 119

122 $ 1,566,385 $ 1,494,414 $ 1,522,648 93,602 29,072 29, , , , , , ,306 $ 2,298,790 $ 2,201,953 $ 2,194, ( ) $ 40,675 $ 108,991 $ 181,358 ( 646 ) ( 2,906 ) ( 5,431 ) 40, , ,927 ( 32,387 ) ( 67,829 ) ( 96,160 ) $ 7,642 $ 38,256 $ 79, $ - $ 108,845 $ 104,377 ( ) $ 644,205 $ 879,364 1,163 2,067 $ 645,368 $ 881,431 ( ) $ 368,869 $ 368, , , , ,524 ( - ) 39,879 50,270 $ 1,184,542 $ 1,233, $ 240, , ,298 ( - ) 63,438 $ 1,181, ANNUAL REPORT

123 ( ) ( ) 1. (1) ( ) ( ) $ 2,320,964 $ 2,247,333 $ 2,252,294 $ 2,171,043 $ 3,055,919 $ 2,973,355 $ 2,771,917 $ 2,701, $ 2,065,253 $ 2,001,465 $ 2,598,609 $ 2,532,383 (2) : / 2. (1) (2) 2015 ANNUAL REPORT 121

124 3. (1) A. B. ( ) ( : ) ( ) ( ) ( ) ( ) $ 4, $ 139,211 $ 2, $ 80,866 $ 660, $ 180,426 $ 532, $ 140,820 $ $ 28,164 $ 1, $ 40, , ,556 53, , ( : ) ( ) ( ) $ 3, $ 98, , ,692 $ 598, $ 169,829 $ 1, $ 46, , ,361 C. ( ) $42,749 A. B. 5% 0.25% $14,051 $16,339 $14,051 $16,339 $32,778 $36,682 $32,778 $36,682 A ANNUAL REPORT

125 B. (2) A. A B (3) A. ( ) B $5,620,386$6,535,463 $6,931,752 C. : $ 2,518,332 $ - $ - $ - 395, ,146, ,209, ,528, ( ) 144, , ,399 - : $ 1,679,220 $ - $ - $ - 400, ,207, ,297, ,927, ( ) 183, ,530 68,034 - : $ 1,917,477 $ - $ - $ - 305, ,617, ,084, ,868, ( ) 305,687 1,301, ,257 23, ANNUAL REPORT 123

126 ( ) 1. ( )1. ( ) 2. ( ) $ 5,620,386 $ - $ - $ 5,620, ,553-64, , , , ,401-64, ,129 $ 6,478,787 $ - $ 64,728 $ 6,543, $ 6,535,463 $ - $ - $ 6,535, ,641-64, , , , ,162-64, ,108 $ 7,468,625 $ - $ 64,946 $ 7,533, $ 6,931,752 $ - $ - $ 6,931, ,035-65, ,199 $ 7,731,787 $ - $ 65,164 $ 7,796, (1) ( ) ( ) ANNUAL REPORT

127 (2) ( ) $ 64, % ( ) ( ) ( ) ANNUAL REPORT 125

128 ( ) ( ) ( ) : 104 $ 132,826,559 $ 59,938,346 $ 2,233,152 $ 10,483,260 $ - $ 205,481, ,129 2,664,863 10,985,202 5,788,349 ( 20,019,543 ) - $ 133,407,688 $ 62,603,209 $ 13,218,354 $ 16,271,609 ($ 20,019,543 ) $ 205,481,317 $ 9,566,746 $ 3,267,565 $ 932,915 ($ 287,586 ) ($ 1,797,837 ) $ 11,681,803 ($ 2,342,132 ) ($ 1,788,056 ) ($ 578,871 ) ($ 737,569 ) $ - ($ 5,446,628 ) ( ) $ 2,147,664 $ - $ - $ - ($ 902,357 ) $ 1,245,307 ($ 1,327,753 ) ($ 672,242 ) ($ 136,735 ) ($ 102,619 ) $ - ($ 2,239,349 ) $ 87,564 $ 29,012 $ 5,986 $ 49,147 $ - $ 171,709 ($ 34,002 ) ($ 34,812 ) ($ 11,019 ) ($ 27,288 ) $ - ($ 107,121 ) 103 $ 130,407,662 $ 57,525,919 $ 2,323,032 $ 10,181,766 $ - $ 200,438, ,195 2,910,351 8,593,244 5,884,594 ( 18,311,384 ) - $ 131,330,857 $ 60,436,270 $ 10,916,276 $ 16,066,360 ($ 18,311,384 ) $ 200,438,379 $ 10,312,119 $ 3,196,883 $ 862,613 ($ 297,812 ) ($ 1,725,079 ) $ 12,348,724 ($ 2,303,054 ) ($ 1,570,455 ) ($ 549,195 ) ($ 671,522 ) $ - ($ 5,094,226 ) ( ) $ 2,001,107 $ - $ - $ - ($ 1,124,790 ) $ 876,317 ($ 1,221,657 ) ($ 642,289 ) ($ 130,333 ) ($ 106,285 ) $ - ($ 2,100,564 ) $ 74,317 $ 28,348 $ 4,453 $ 51,292 $ - $ 158,410 ($ 28,185 ) ($ 36,433 ) ($ 13,388 ) ($ 21,824 ) $ - ($ 99,830 ) ( ) ANNUAL REPORT

129 ( ) $ 152,058,340 $ 144,814,355 26,141,724 25,688,858 10,011,432 14,056,522 9,819,717 8,741,330 2,233,152 2,323,032 1,881,528 2,049,099 3,335,424 2,765,183 $ 205,481,317 $ 200,438,379 ( ) $ 178,325,111 $ 20,937,917 $ 177,358,908 $ 21,486,353 27,156,206 4,065,140 23,079,471 3,693,456 $ 205,481,317 $ 25,003,057 $ 200,438,379 $ 25,179,809 ( ) % 2015 ANNUAL REPORT 127

130 ( ) ( ) ( ) 1 ( ) ( ) $ 5,422,737 $ 107,800 $ - $ - $ - 0 $ 13,556,843 N N Y 57,516 5, ,790 N N N % 20% ( ) ( ) - 137,352,649 $ 1,700,000 - $ 1,700,000 ( ) 64,063,551 1,000,000-1,000,000 ( ) 82,070,923 1,200,000-1,200,000 ( ) 30,287, , ,000 ( ) - 35,604, , ,325 ( ) Duskin 300, , ,228 ( ) 64,728-64,728 ( ) ( ) - 25, , , , ,527 8,432, , ,010 80,009 80,009 7,875, , ,019 10,605, , ,065 83,099 83, , ,657 ( ) - 1, , , ANNUAL REPORT

131 ( ) ( ) 1 82,532,084 $ 1,200,000 82,070,923 $ 1,200,000 82,532,084 $ 1,206,743 $ 1,200,000 $ 6,743 82,070,923 $ 1,200,000 ( ) 138,140,627 1,700, ,352,649 1,700, ,140,627 1,709,753 1,700,000 9, ,352,649 1,700,000 ( ) 132,067,830 1,500, ,067,830 1,505,771 1,500,000 5, ( ) ,071,705 1,000,000 92,071,705 1,000,424 1,000, ( ) ,659, ,000 40,659, , , ( ) ,375, ,000 37,375, , ,000 1, ( ) 19,693, , ,693, , , ( ) ,398,298 2,000,000 64,334,747 1,004,233 1,000,000 4,233 64,063,551 1,000,000 ( ) 36,537, ,000 66,788,586 1,100,000 73,037,812 1,203,926 1,200,000 3,926 30,287, ,000 1,843,608 30,082 27,293, ,000 29,136, , , ,004, ,000 15,399, , , ,605, ,000 1,882,518 25,157 37,158, ,000 34,533, , , ,507,830 60,550 10,634, , ,603,785 1,335, ,805,793 1,363,413 1,363, ,432, , ,347, ,000 27,927, , , ,420,258 50, ,219, ,000 60,592, , , ,627,270 30,000 14,866, ,155 79,374,110 1,156,000 94,240,515 1,373,044 1,372, ,002, ,000 12,126, , , ,875, , ,936,043 1,513, ,724,685 1,443,938 1,443, ,211,358 70,000 ( ) ( ) 2 209,000,000 $ 1,224,548 54,387,500 $ 870,200 - $ - $ - $ - 263,387,500 $ 2,094,748 ( ) - 226, , ,542 - ( 130,994 ) - 307, , , , ANNUAL REPORT 129

132 ( ) ( ) ( ) $ 13,648, ~40 ($ 1,204,870 ) ( 9 ) ( ) 2,862, ( 522,303 ) ( 4 ) ( ) 1,933, ( 168,920 ) ( 1 ) ( ) 896, ~54 ( 95,399 ) ( 1 ) ( ) 505, ~70 ( 57,920 ) ( 0 ) ( ) 823, ( 56,666 ) ( 0 ) ( ) 374,745-15~60 ( 69,009 ) ( 1 ) ( ) 350,700-30~65 ( 88,357 ) ( 1 ) ( ) 558,227-15~40 ( 98,320 ) ( 0 ) ( ) 200, ( 30,720 ) ( 0 ) ( ) 186, ( 49,717 ) ( 0 ) ( ) 150,049-10~54 ( 9,445 ) ( 0 ) ( ) 165, ( 17,238 ) ( 0 ) ( ) ( ) ( 186,436 ) ( 22 ) , ( ) ( ) ( 558,227 ) ( 65 ) 15~40 98, ( ) ( ) ( 274,340 ) ( 77 ) , ( ) ( ) ( 823,471 ) ( 18 ) , ( ) ( ) ( 710,273 ) ( 30 ) 20 63, ( ) ( 915,938 ) ( 39 ) 20 78, ( ) ( 396,542 ) ( 17 ) 20 44, ( ) 649, ( 58,169 ) ( 59 ) ( ) ( ) ( 886,325 ) ( 56 ) , ( ) ( 649,460 ) ( 41 ) 20 58, ( ) ( ) 274, ( 23,811 ) ( 29 ) ( ) 710, ( 63,244 ) ( 36 ) ( ) ( ) 1,163, ~80 ( 42,210 ) ( 2 ) ( ) ( ) ( 2,862,087 ) ( 100 ) , ( ) ( ) 886, ( 112,836 ) ( 10 ) ( ) ( 165,197 ) ( 2 ) 60 17,238 3 ( ) ( ) ( 763,706 ) ( 68 ) , ( ) ( 146,269 ) ( 13 ) 45 19,406 8 ( ) ( ) ( 1,163,562 ) ( 28 ) 30~80 42, ( ) ( 150,049 ) ( 4 ) 10~54 9,445 1 ( 276,355 ) ( 9 ) 90 76, ( ) 276, ( 76,709 ) ( 28 ) ( ) ( ) 915, ( 78,038 ) ( 35) ( ) ( ) ( 222,691 ) ( 24 ) 45 27, ( ) ( ) 396, ( 44,388 ) ( 21) ( ) ( 254,651 ) ( 17 ) 60 22,977 7 ( ) ( ) ( 161,370 ) ( 82 ) 60 30, ANNUAL REPORT

133 ( ) ( ) ( ) $ 281, $ 83,900 $ - ( ) ( ) 112, ,475 - ( ) ( ) 155, ,184 - ( ) ( ) 522, ,303 - ( ) ( ) 293, ,914 - ( ) ( ) 145, , ( ) 0 $141, , , , , , , , ,049 10~ , ,163,562 30~ , , , , , , , , , , , , ,862, , , ANNUAL REPORT 131

134 ( ) ( ) BVI $ 4,885,624 $ 4,885, ,899, $ 3,945,077 ($ 87,258 ) ($ 87,258 ) ( ) ( ) 288, ,559 40,000, , , ,181 ( ) ( ) 711, , ,496, ,239, , ,549 ( ) ( ) 904, ,475 55,858, ,704 53,902 43,590 ( ) ( ) 330, ,216 22,121, , , ,809 ( ) ( ) 840,000 1,120,000 27,999, , , ,777 ( ) ( ) 520, ,141 48,519, ,991 16,959 15,263 ( ) ( ) 237, ,437 19,563, , , ,432 ( ) ( ) 320, ,741 25,714, ,146 93,727 80,605 ( ) ( ) 332, ,482 24,382, ,216 78,966 68,509 ( ) ( ) 50,000 50,000 10,847, , , ,972 ( ) ( ) 100, ,400 9,999, , , ,108 ( ) ( ) 200, ,000 20,000, ,693 27,227 27,280 ( ) ( ) 102, ,000 10,199, , ,358 57,539 ( ) ( ) 94,554 94,554 7,874, ,510 33,524 19,550 ( ) ( ) 325, ,000 32,500, ,375 ( 8,408 ) ( 8,408 ) ( ) ( ) 720, ,000 72,000, , ,365 47,185 ( ) ( ) 59,400 59,400 10,691, , , ,214 ( ) ( ) 91,414 91,414 6,429, , ,878 57,243 ( ) ( ) 861, ,696 19,930, ,015 ( 92,090 ) ( 18,256 ) ( ) ( ) 7,112,028 7,112, ,801, ,078,101 1,197, ,721 ( ) ( ) 3,191,700 2,321, ,387, ,018,057 ( 403,161 ) ( 76,691 ) ( ) ( ) 500, ,000 44,100, , ,245 8,077 ( ) ( ) 1,702,754 1,702, , ,100 ( 40,327 ) ( ) ( ) $ - $ - - $ 513,449 $ - $ - ( ) , ( ) , B.V.I. 678, ,963 20,684, ,565, ,199 - B.V.I. 4,088,407 4,088, ,551, ,912, ,421 - B.V.I. Presiclerc Limited ( 848,199 ) - - Philippine Seven Corp. 678, , ,376, ,564, , ,540, ( ) 89,415 89,415 3,000, ,127 ( 4,702 ) - ( ) ( ) , Philippine Seven Corp. Convenience Distribution Inc , ANNUAL REPORT

135 ( ) $ 295,946 1 $ 169,724 $ - $ - $ 169,724 $ $ 439 $ 38,268 $ , , ,650 2,830, ,271 1,218,898-2 ( ) 499, , ,122 1, ,374 68,785-2 ( ) 2,197, ,930, ,125-2,245,201 ( 238,784 ) ( 238,784 ) 284, , , , , , , , , ,013 ( 146,506 ) ( 147,181 ) 77, , , , ,314 ( 169,026 ) ( 168,304 ) 4, , , ,494 ( 44,078 ) ( 43,466 ) 128,628-2 ( ) 134, , ,311 ( 621 ) ( 317 ) 4, , , ,872 24, ( 25,754 ) 221,384-2 ( ) 95, , ,475 5, ,524 87, , ,406 97, ,812 16, , ,466-2 ( ) 299, , ,984 ( 38 ) ( ) 798, ,468 9, ,555 ( 260,640 ) ( 240,649 ) ( 493,681) ( 10 ) ( 5 ) , , ,207 ( 154 ) ( 154 ) 299, ( ) $ 4,037,132 $ 7,458,225 $ 18,654,901 ( ) 98,475 98, ,262 ( ) 21,984 21, ,138 ( ) 97,406 97, , ANNUAL REPORT 133

136 (105) ,642,844 6,293, % 10.6% ( ) 587, , % 5.4% ( ) (88) ( ) ANNUAL REPORT

137 ( ) ( ) % % % 1100 ( ) $ 14,839, $ 12,898, $ 11,778, ( ) 4,400, ,300, ,750, ( ) 474, , , ,386, ,250, ,056, X ( ) 6,129, ,495, ,835, , , , , ,252, , , XX 28,671, ,242, ,197, ( ) 720, , , ( ) 25,721-34,036-42, ( ) 19,943, ,263, ,819, ( ) 8,953, ,735, ,118, ( ) 1,075, ,087, ,378, ( ) 356, , , ( ) 555, , , ( ) 1,105, ,090, ,064, XX 32,735, ,963, ,217, XXX $ 61,407, $ 59,206, $ 57,414, ( ) ( ) % % % 2150 $ 919,751 2 $ 990, ,395, ( ) 3,456, ,058, ,082, ,697, ,465, ,408, ( ) 7,002, ,512, ,317, ( ) ( ) 13,386, ,032, ,708, ( ) 724, , , ( ) 1,968, ,852, ,452, XX 29,156, ,664, ,872, ( ) ,000, ( ) 9,658-10,390-14, ( ) 2,501, ,440, ,290, ,191, ,177, ,083, , , , XX 5,137, ,029, ,805, XXX 34,293, ,694, ,678, ( ) ,396, ,396, ,396, ( ) ,733-7, ,234 1 ( ) ,384, ,493, ,931, , ,733, ,907, ,612, ( ) , , , XXX 27,113, ,512, ,735, X2X $ 61,407, $ 59,206, $ 57,414, ANNUAL REPORT 135

138 ( ) ( ) % % 4000 ( ) ( ) $ 133,407, $ 131,330, ( ) ( 88,298,423 ) ( 66 ) ( 88,150,965 ) ( 67) ,109, ,179, ( )( ) ( ) 6100 ( 34,747,991 ) ( 26 ) ( 32,861,861 ) ( 25) 6200 ( 3,949,159 ) ( 3 ) ( 4,017,180 ) ( 3) 6000 ( 38,697,150 ) ( 29 ) ( 36,879,041 ) ( 28) ,412, ,300, ( ) 1,248, ,199, ( ) ( 207,461 ) - 839, ( 34,002 ) - ( 28,185 ) ,147, ,001, ,154, ,011, ,566, ,312, ( ) ( 1,327,753 ) ( 1 ) ( 1,221,657 ) ( 1) 8200 $ 8,238,993 6 $ 9,090,462 7 ( ) ( ) 8311 ( $ 69,768 ) - ( $ 167,274 ) ( 187,322 ) - ( 61,653 ) ,861-28, ( 245,229 ) - ( 200,490 ) ( 11,710 ) - 185, ( 78,088 ) - ( 66,394 ) ( 19,401 ) - 17, ( 6,699 ) - 4, ( 115,898 ) - 141, ( ) ( $ 361,127 ) - ( $ 59,319 ) $ 7,877,866 6 $ 9,031,143 7 ( ) 9750 $ 7.92 $ 8.74 ( ) 9850 $ 7.90 $ ANNUAL REPORT

139 ( ) $ 10,396,223 $ 890,234 $ 5,931,412 $ 338,453 $ 5,616,291 $ 17,945 $ 549,318 $ 23,739, ( 4,100 ) - - ( 4,100 ) ,396, ,234 5,931, ,453 5,612,191 17, ,318 23,735,776 ( ) ,629 - ( 561,629 ) ( 338,453 ) 338, ( 883,679 ) - - ( 5,354,055 ) - - ( 6,237,734 ) ( 16,904 ) - - ( 16,904 ) ( 283 ) ,090, ,090,462 ( ) ( 200,490 ) 198,402 ( 57,231 ) ( 59,319 ) $ 10,396,223 $ 7,031 $ 6,493,041 $ - $ 8,907,745 $ 216,347 $ 492,087 $ 26,512, $ 10,396,223 $ 7,031 $ 6,493,041 $ - $ 8,907,745 $ 216,347 $ 492,087 $ 26,512,474 ( ) ,124 - ( 891,124 ) ( 7,277,356 ) - - ( 7,277,356 ) ,238, ,238,993 ( ) ( 245,229 ) ( 7,021 ) ( 108,877 ) ( 361,127 ) $ 10,396,223 $ 7,733 $ 7,384,165 $ - $ 8,733,029 $ 209,326 $ 383,210 $ 27,113, ANNUAL REPORT 137

140 $ 9,566,746 $ 10,312,119 ( ) 6,930 9,030 ( )( ) 2,247,172 2,205,472 ( )( ) 94,960 97,582 34,002 28,185 ( 2,147,664 ) ( 2,001,107 ) ( ) 11,928 14,898 ( ) - ( 1,028,508 ) ( )( ) 3, ,000 ( )( ) - 4,278 ( ) ( 87,564 ) ( 74,317 ) ( ) ( 45,949 ) ( 40,017 ) ( )( ) 146,253 29,451 ( ) 54,123 45,795 / 900, ,000 18,953 ( 53,641 ) ( 129,477 ) ( 194,067 ) ( 633,785 ) ( 659,957 ) 14, ,296 ( 659,198 ) ( 54,343 ) ( 14,989 ) ( 25,720 ) 327,330 ( 428,718 ) 722, , , , ,288 ( 599,977 ) ( 8,970 ) ( 17,826 ) 34,754 ( 8,883 ) 11,020,539 8,791,272 81,152 73,986 ( 1,404,786 ) ( 987,305 ) ( 24,834 ) ( 19,268 ) 1,883,891 1,771,170 11,555,962 9,629,855 ( $ 870,200 ) ( $ 125,000 ) 280,000-16,800 4,667-1,450, ( ) ( 1,897,021 ) ( 2,661,388 ) 118,500 48,458 ( ) - ( 83,453 ) ( 2,351,703 ) ( 1,366,499 ) - ( 1,000,000 ) ( ) ( 7,277,356 ) ( 6,237,734 ) 13,208 94,571 ( 7,264,148 ) ( 7,143,163 ) 1,940,111 1,120,193 12,898,946 11,778,753 $ 14,839,057 $ 12,898, ANNUAL REPORT

141 ( ) ( ) ( ) ( ) 45.4% ( ) ( ) IFRSs 2013 IFRSs $4,100$3,494 $4,100$3, $3,182 $1,806 $541 $3, ANNUAL REPORT 139

142 ( ) ( ) 2013 / / / / ANNUAL REPORT

143 ( ) ( ) 1. (1) (2) (3) 2. IFRSs ( ) 1. (1) (2) (3) (4) 2. (1) A. B. C. (2) 2015 ANNUAL REPORT 141

144 (3) (4) ( ) 1. (1) (2) (3) (4) 2. (1) (2) (3) (4) ( ) ( ) ( ) ANNUAL REPORT

145 ( ) ( ) (1) (2) (3) 3. (1) (2) (3) ( ) ( ) ( ) ANNUAL REPORT 143

146 ( ) / ( ) % ANNUAL REPORT

147 ( ) : ( ) ( ) ( ) ANNUAL REPORT 145

148 ( ) 3 15 ( ) ( ) ( ) (1) (2) A. ) B. C ANNUAL REPORT

149 4. ( ) % 10% 3. ( ) ( ) ANNUAL REPORT 147

150 ( ) $ 714,454 $ 716,333 2,863,502 2,890,768 7,600,000 3,694,950 3,661,101 5,596,895 $ 14,839,057 $ 12,898, ( ) $ 4,400,000 $ 5,300, $32,523 $34,182 ( ) $ 542,140 $ 564,276 ( 1,062 ) ( 1,839 ) ( 66,434 ) ( 61,910 ) $ 474,644 $ 500, : (1) $66,434 $61,910 (2) : $ 61,910 $ 52,880 6,930 9,030 ( 2,406 ) $ 66,434 $ 61, ANNUAL REPORT

151 ( ) $ 6,213,505 ($ 84,480 ) $ 6,129, $ 5,515,275 ($ 20,035 ) $ 5,495, $88,298,423 $88,150,965 $64,445 ($2,600) ( ) $ 265,606 $ 265,606 42,230 42, , ,054 ( ) 412, ,533 $ 720,281 $ 798, ($78,088) ($66,394) ( ) $ 237,399 $ 245,714 ( 211,678 ) ( 211,678 ) $ 25,721 $ 34, ( ) $ 19,263,995 $ 18,819, , ,000 ( 280,000 ) - 2,147,664 2,001,107 ( 1,837,942 ) ( 1,731,153 ) ( 218,433 ) 140,980 ( 3,148 ) ( 100,000 ) 702 ( 16,710 ) $ 19,943,038 $ 19,263, ANNUAL REPORT 149

152 ( BVI) $ 3,945,077 $ 4,045,242 $ 3,907,731 1,239,582 1,019, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,714 99, , , , , , ,054 10,840,273 11,085,959 10,684,513 5,078,101 5,021,414 5,072,795 2,018,057 1,224,548 1,326, , , , , , ,000 97, , ,352 58,592 57,142 54,094 8,618,868 7,757,089 7,837, , , ,716 76,734 68,778 ( 10,642 ) 483, , ,074 $ 19,943,038 $ 19,263,995 $ 18,819, ( ) $411, $1,450, : (1) $ 177,032 $ 163, ANNUAL REPORT

153 (2) $ 255,393 $ 211, $3,148 $100,000 ( ) $ 1,535,401 $ 946,371 $ 12,891,092 $ 7,161,767 $ 9,763 $ 22,544,394 - ( 257,717 ) ( 8,018,900 ) ( 4,525,031 ) ( 7,035 ) ( 12,808,683 ) $ 1,535,401 $ 688,654 $ 4,872,192 $ 2,636,736 $ 2,728 $ 9,735, $ 1,535,401 $ 688,654 $ 4,872,192 $ 2,636,736 $ 2,728 $ 9,735, ,095, ,865-1,783, ( 66,718 ) ( 105,905 ) - ( 172,623 ) - ( 20,562 ) ( 1,422,128 ) ( 803,672 ) ( 810 ) ( 2,247,172 ) - - ( 146,253 ) - - ( 146,253 ) $ 1,535,401 $ 668,092 $ 4,332,116 $ 2,416,024 $ 1,918 $ 8,953, $ 1,535,401 $ 946,371 $ 12,442,240 $ 7,149,307 $ 9,192 $ 22,082,511 - ( 278,279 ) ( 8,110,124 ) ( 4,733,283 ) ( 7,274 ) ( 13,128,960 ) $ 1,535,401 $ 668,092 $ 4,332,116 $ 2,416,024 $ 1,918 $ 8,953, $ 1,317,441 $ 895,829 $ 12,491,506 $ 6,749,188 $ 6,692 $ 21,460,656 - ( 231,977 ) ( 7,826,770 ) ( 4,279,151 ) ( 3,935 ) ( 12,341,833 ) $ 1,317,441 $ 663,852 $ 4,664,736 $ 2,470,037 $ 2,757 $ 9,118, $ 1,317,441 $ 663,852 $ 4,664,736 $ 2,470,037 $ 2,757 $ 9,118, ,663,641 1,014, ,678,509 ( 6,782 ) ( 6,355 ) ( 47,531 ) ( 41,542 ) - ( 102,210 ) 224,742 50, ,512 - ( 19,435 ) ( 1,379,203 ) ( 806,191 ) ( 643 ) ( 2,205,472 ) - - ( 29,451 ) - - ( 29,451 ) $ 1,535,401 $ 688,654 $ 4,872,192 $ 2,636,736 $ 2,728 $ 9,735, $ 1,535,401 $ 946,371 $ 12,891,092 $ 7,161,767 $ 9,763 $ 22,544,394 - ( 257,717 ) ( 8,018,900 ) ( 4,525,031 ) ( 7,035 ) ( 12,808,683 ) $ 1,535,401 $ 688,654 $ 4,872,192 $ 2,636,736 $ 2,728 $ 9,735, ANNUAL REPORT 151

154 ( ) $ 805,515 $ 282,377 $ 1,087,892 - ( 11,928 ) ( 11,928 ) $ 805,515 $ 270,449 $ 1,075, $ 1,030,257 $ 348,045 $ 1,378,302 ( 224,742 ) ( 50,770 ) ( 275,512 ) - ( 14,898 ) ( 14,898 ) $ 805,515 $ 282,377 $ 1,087, $ 55,377 $ 52,220 $ 12,260 $ 20, $2,252,266 $2,264,120 2% 2.63% ( ) $ 451,139 ( 94,960 ) $ 356, $ 465,268 83,453 ( 97,582 ) $ 451,139 ( ) $ 1,103,970 $ 1,087,933 1,064 2,112 $ 1,105,034 $ 1,090, ANNUAL REPORT

155 ( ) $ 8,375,014 $ 8,054,655 1,777,536 1,704, , , , , , , , , ,873 80,339 65,561 31, , ,670 $ 13,386,554 $ 13,032,951 ( ) $ 1,098,233 $ 1,072, , , , , , ,478 $ 1,968,981 $ 1,852,693 ( ) $7,000,841 $6,471,657 ( ) ( ) % (1) ($ 3,858,181 ) ($ 3,752,25 1 ($ 3,546,568 ) 1,357,003 1,311,871 1,255,636 ($ 2,501,178 ) ($ 2,440,380 ) ($ 2,290,932 ) 2015 ANNUAL REPORT 153

156 (2) ($ 3,752,251 ) $ 1,311,871 ($ 2,440,380 ) ( 49,752 ) - ( 49,752 ) ( ) ( 74,427 ) 26,596 ( 47,831 ) ( 3,876,430 ) 1,338,467 ( 2,537,963 ) - 8,204 8,204 ( 8,921 ) - ( 8,921 ) ( ) ( 130,614 ) - ( 130,614 ) 61,563-61,563 ( 77,972 ) 8,204 ( 69,768 ) - 97,421 97,421 96,221 ( 87,089 ) 9, ($ 3,858,181 ) $ 1,357,003 ($ 2,501,178 ) ($ 3,546,568 ) $ 1,255,636 ($ 2,290,932 ) ( 47,486 ) - ( 47,486 ) ( ) ( 70,420 ) 25,453 ( 44,967 ) ( 3,664,474 ) 1,281,089 ( 2,383,385 ) - 4,133 4,133 ( 153,950 ) - ( 153,950 ) ( 17,457 ) - ( 17,457 ) ( 171,407 ) 4,133 ( 167,274 ) - 94,032 94,032 83,630 ( 67,383 ) 16, ($ 3,752,251 ) $ 1,311,871 ($ 2,440,380 ) (3) (4) % 2.00% 2.75% 3.00% ANNUAL REPORT

157 0.25% 0.25% 0.25% 0.25% ($ 128,916 ) $ 135,005 $ 132,656 ($ 127,363 ) 0.25% 0.25% 0.25% 0.25% ($ 129,351 ) $ 135,622 $ 133,941 ($ 128,429 ) (5) 105 $85,186 (6) $ 84, , , ,978, % 15% $177,295 $170,914 ( ) $10,500,000 1,050,000 $10,396, ,039,622,255 ( ) 2015 ANNUAL REPORT 155

158 ( ) 1. 10% 50% 100% 50% 100% : ( ) ( ) $ 891,124 $ 561,629-7,277,356 $ ,354,055 $ , , , , , ( ) $ 823,899-7,485,280 $ , , ( ) $ 216,347 $ 492,087 $ 708,434 - ( 78,088 ) ( 78,088 ) - 3,222 3,222 - ( 27,312 ) ( 27,312 ) - ( 6,699 ) ( 6,699 ) ( 11,710 ) - ( 11,710 ) ( 3,223 ) ( 3,223 ) 7,912-7, $ 209,326 $ 383,210 $ 592, ANNUAL REPORT

159 $ 17,945 $ 549,318 $ 567,263 - ( 66,394 ) ( 66,394 ) - 4,231 4,231-4,932 4, , ,470 12,932-12, $ 216,347 $ 492,087 $ 708,434 ( ) $ 127,028,252 $ 125,686,099 6,379,436 5,644,758 $ 133,407,688 $ 131,330,857 ( ) $ 459,898 $ 470,422 45,949 40,017 73,901 81,893 87,564 74, , ,586 $ 1,248,430 $ 1,199,235 ( ) ( 149,401 ) ( 133,729 ) 32,523 1,062,690 ( 54,123 ) ( 45,795 ) ( 36,460 ) ( 44,055 ) ($ 207,461 ) $ 839,111 ( ) $ 86,641,147 $ 86,359,586 15,880,747 14,387,268 6,347,039 6,305,828 5,980,268 5,788,237 2,491,205 2,665,230 2,342,132 2,303,054 7,313,035 7,220,803 $ 126,995,573 $ 125,030, ANNUAL REPORT 157

160 ( ) $ 5,385,466 $ 5,399, , , , , , ,446 $ 6,347,039 $ 6,305, ( ) 8,300 7, % % 2% ( ) $443,949 $481,207 $148,322 $160, % 1.46% $443,949 $148, % 2 % ( ) ( ) 1. (1) : $ 1,287,228 $ 1,238,567 72,089 2,216 ( ) 17,003 ( 8,683 ) 1,376,320 1,232,100 ( 48,567 ) ( 10,443 ) $ 1,327,753 $ 1,221,657 (2) : $ 6,699 ($ 4,932 ) ( 11,861 ) ( 28,437 ) ($ 5,162 ) ($ 33,369 ) ANNUAL REPORT

161 $ 1,626,348 $ 1,752,754 6,425 3,893 ( 8,262 ) ( 14,945 ) ( 380,321 ) ( 339,486 ) 10% 72,089 2,216 ( ) 17,003 ( 8,683 ) ( 5,529 ) ( 174,092 ) $ 1,327,753 $ 1,221, $ 10,451 $ 769 $ - $ 11, ( 132 ) ,231 6, ,893 ( 2,676 ) - ( 6,699 ) ( 9,375 ) 8,598 4,718-13, ,788-11, ,649 9,808 35,818-45, ,513 47,835 5, ,510 ( 10,390 ) ( 9,658 ) $ 492,123 $ 48,567 $ 5,162 $ 545, $ 8,916 $ 1,535 $ - $ 10, ( 105 ) ,091 11, ,231 ( 7,608 ) - 4,932 ( 2,676 ) 15,658 ( 7,060 ) - 8, ,351-28, ,788 8,547 1,261-9, ,373 6,771 33, ,513 ( 14,062 ) 3,672 - ( 10,390 ) $ 448,311 $ 10,443 $ 33,369 $ 492, $1,312,218 $1,204, % % 2015 ANNUAL REPORT 159

162 ( ) 104 ( ) ( ) $ 8,238,993 1,039,622 $ 7.92 $ 8,238,993 1,039,622-3,274 $ 8,238,993 $ 1,042,896 $ ( ) ( ) $ 9,090,462 1,039,622 $ 8.74 $ 9,090,462 1,039,622-2,639 $ 9,090,462 1,042,261 $ 8.72 ( ) 5~ $ 56,000 $ 55, , , , ,296 $ 287,526 $ 342, $ 5,839,812 $ 5,623,863 $ 140,456 $ 164, $ 5,589,040 $ 5,503, ,721,134 18,417, ,707,032 8,729,374 $ 33,017,206 $ 32,650, ANNUAL REPORT

163 $ 139,355 $ 130,191 $ 347,570 $ 314, $336, ( ) $ 1,783,888 $ 2,678, , ,098 ( 362,086 ) ( 475,219 ) $ 1,897,021 $ 2,661,388 ( ) 45.4% ( ) $ 313,596 $ 312, , ,281 $ 956,176 $ 943, ( ) $ 13,648,306 $ 13,795,530 4,553,816 4,677,848 3,868,020 3,997, , , , ,686 $ 22,801,956 $ 23,134,658 (1) (2) ANNUAL REPORT 161

164 3. ( ) $ 649,202 $ 659, , , , ,998 4, ,249 61,192 $ 1,130,054 $ 1,093, $ 47,916 $ 30, , ,688 15,025 5,623 54,006 76,370 $ 1,044,914 $ 875, ( ) $ 48,015 $ 98, , ,398 41,109 37,475 21,834 26,109 $ 756,501 $ 777, $ 335,918 $ 346,615 10,071,705 9,155,187 5,769 30,805 43,730 37,868 1, $ 10,458,569 $ 9,570, $ - $ 108,845 ( ) $ 317,684 $ 563, ANNUAL REPORT

165 ( ) ( ) ( ) 1. (1) ( ) ( ) $ 25,721 $ 25,721 1,103,970 1,071,238 $ 1,129,691 $ 1,096,959 $ 2,191,196 $ 2,134, $ 34,036 $ 34,036 1,087,933 1,058,291 $ 1,121,969 $ 1,092,327 $ 2,177,988 $ 2,123,858 (2) / 2015 ANNUAL REPORT 163

166 2. (1) (2) 3. (1) A ( : ) ( ) ( ) $ 660, $ 180, , $ 4,015, ( : ) ( ) ( ) $ 532, $ 140, , $ 4,109,689 B ( ) ( ) $1,281 ($1,008) A. B. 5% 0.25% $11,000 $13,250 $11,000 $13,250 $32,778 $36,682 $32,778 $36, ANNUAL REPORT

167 A. (2) A. A B (3) A. ( ) B $4,400,000 $5,300,000 C. : $ 4,376,208 $ - $ - $ - 8,700, ,386, : $ 4,048,878 $ - $ - $ - 7,977, ,032, ANNUAL REPORT 165

168 ( ) 1. ( )1. ( ) 2. ( ) $ 4,400,000 $ - $ - $ 4,400, ,553-64, ,281 $ 5,055,553 $ - $ 64,728 $ 5,120, $ 5,300,000 $ - $ - $ 5,300, ,641-64, ,587 $ 6,033,641 $ - $ 64,946 $ 6,098, (1) ( ) ( ) (2) ANNUAL REPORT

169 ( ) 64, % ( ) ( ) ( ) ANNUAL REPORT 167

170 $ 714,454 2,863, % 1.08% 7,600, % 0.46% 3,661,101 $ 14,839, ( ) ( ) 30,287,795 $ 10 $ 500,000 $ 500,000 $ $ 500, ,352, ,700,000 1,700, ,700,000 64,063, ,000,000 1,000, ,000,000 82,070, ,200,000 1,200, ,200,000 4,400,000 $ 4,400,000 - $ 4,400, $ 6,129,025 $ 6,301, ( ) 35,604,872 $ 140,534 - $ - - $ - 35,604,872 $ 140,534 Duskin 300, , , ,072 42,448 - ( 218 ) 42, ,054 - ( 218 ) 307, ,533 - ( 78,088 ) 412,445 $ 798,587 $ - ($ 78,306 ) 720, ANNUAL REPORT

171 ( ) 2,572,127 $ 203,714 - $ - - $ - 2,572,127 $ 203,714 4,200,000 42, ( 1,680,000 ) ( 8,315 ) 2,520,000 33, ,714 - ( 8,315 ) 237,399 ( 211,678 ) - - ( 211,678 ) $ 34,036 $ - ($ 8,315 ) $ 25, ( 1) ( 2) ( 3) ( ) BV1 138,899,066 $ 4,045,242 - $ - - ($ 87,258) ($ 12,907) 138,899, $ 3,945,077 $ $ 3,945,077 40,000, , , ( 328,381) 40,000, , ,127 " 86,246,999 1,019,639 17,249, , ( 63,605) 103,496, ,239, ,220,739 " 55,858, ,680-43, ( 9,566) 55,858, , ,704 " 22,121, , , ( 355,049) 22,121, , ,628 " 55,999, , ,777 ( 28,000,000) ( 280,000) ( 79,661) 27,999, , ,163 " 48,519, ,689-15, ( 3,961) 48,519, , ,991 " 19,563, , , ( 192,542) 19,563, , ,861 " 25,714, ,973-80, ( 54,432) 25,714, , ,305 " 24,382, ,732-68, ( 85,025) 24,382, , ,063 " 10,847, , , ( 65,599) 10,847, , ,580 " 9,999, , , ( 139,545) 9,999, , ,990 " 20,000, ,082-27, ( 29,669) 20,000, , ,175 " 10,199, ,566-57, ( 55,902) 10,199, , ,203 " 7,874, ,714-19, ( 23,754) 7,874, , ,510 " 32,500, , ( 8,409) ( 1,597) 32,500, , ,375 " 72,000, ,213-47, ( 9,361) 72,000, , ,037 " 10,691, , , ( 193,220) 10,691, , ,163 " 6,429, ,585-57, ( 57,647) 6,429, , ,194 " 19,930, , ( 18,256) 1,610 19,930, , ,015 " 130,801,027 5,021, , ( 174,034) 130,801, ,078, ,160,703 " 209,000,000 1,224,548 54,387, ,200 - ( 76,691) - 263,387, ,018, ,845,524 " 44,100, ,111-8, ( 19,122) 44,100, , ,644 " ( ) 491, ,174 ( 154,499) ( 105,852) 345, ,410 " $ 19,263,995 $ 3,362,977 ($ 625,113) ($ 2,058,821) $ 19,943,038 $ 16,544,181 1 $2,492,777 $870,200 2 $345,113 $280,000 3 $1,837,942 ($7,021) ($187,322) ($3,148) ($24,090) $ ANNUAL REPORT 169

172 $ 1,535,401 $ - $ - $ - $ 1,535, , ,371 12,891,092 1,095,023 ( 1,543,875 ) - 12,442,240 7,161, ,865 ( 701,325 ) - 7,149,307 9,763 - ( 571 ) - 9,192 22,544,394 $ 1,783,888 ($ 2,245,771 ) $ - 22,082,511 ( 257,717 ) ($ 20,562 ) $ - $ - ( 278,279 ) ( 7,978,055 ) ( 1,422,128 ) 1,477,157 - ( 7,923,026 ) ( 4,525,031 ) ( 803,672 ) 595,420 - ( 4,733,283 ) ( 7,035 ) ( 810 ) ( 7,274 ) ( 12,767,838 ) ($ 2,247,172 ) $ 2,073,148 $ - ( 12,941,862 ) ( 40,845 ) ($ 146,253 ) $ - $ - ( 187,098 ) $ 9,735,711 $ 8,953, $ 127,028,252 6,379,436 $ 133,407, $ 5,495,240 92,163,036 ( 1,837,071 ) ( 312,139 ) ( 498,140 ) ( 1,624,996 ) ( 6,129,025 ) 1,041,518 $ 88,298, $ 15,880,747 5,816,827 3,248,545 2,485,044 2,219,202 5,097,626 $ 34,747, ANNUAL REPORT

173 % 51.56% Philippine 100% Seven Corp. Convenience Distribution Inc. ( ) 100% 92.33% ( ) 100% 100% 100% 100% 100% 100% 100% ( ) 100% 100% 55% 100% 51% ( ) 100% 100% ( ) 7.8% 92.2% 100% ( ) 100% 100% 60% 100% 45.40% 100% 100% 100% 100% 100% 100% 100% 90% 86.76% 86% 80% 80.87% 73.74% 100% 60% 100% 100% ( ) 70% 70% 70% 60% 100% 50% 50% 58.33% 51% 51% 100% 50.03% 100% 100% 25% 51% 49% 100% 2015 ANNUAL REPORT 171

174 ( ) ( ) Tropic Isle Building, P.O. Box 438, Road Town, Tortola, British Virgin Islands USD 138, P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands USD 9,486 ( ) ,000 ( ) ,000 ( ) ,000 ( ) ,444 ( ) ,474 ( ) ,000 ( ) , JPY 98,000 ( ) ,000 ( ) ,000 ( ) ,000 ( ) ( ) ,110 ( ) ,042 ( ) ,006 ( ) ( ) ,713 ( ) ,000 ( ) ,478,520 ( ) ,000 ( ) ,000 ( ) ,055 ( ) ,000 ( ) ,000 ( ) ,000 ( ) ,900 ( ) , Level 15(A1), Main Office Tower, Financial Park Labuan, Jalan Merdeka,87000 Labuan FT, Malaysia USD 20,684 Philippine Seven Corp /F The Columbia Tower, Ortigas Avenue,Mandaluyong City, Manila, Philippine PHP 459,122 Convenience Distribution Inc F. Legaspi Avenue, Maybunga, Pasig City, Manila, Philippine PHP 45, th Floor, Ellen Skelton Building, 3076 Sir Francis Drake Highway, Road Town, Tortola, Virgin Islands, British USD 46,538 ( ) B1103 RMB 159, ANNUAL REPORT

175 USD 124, RMB 60, B 701 RMB 100, RMB 140, A USD 23,885 ( ) RMB 440, USD 2, Floor 4, Willow House, Cricket Square, P.O. Box 2804, Grand Cayman KY1-1112, Cayman Islands USD 8, E USD 8, RMB 7 60,000 ( ) USD 4,200 ( ) RMB 100,000 ( ) ,000 ( ) ,000 ( ) , A USD 3,000 ( ) USD 3, P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands USD 2, RMB 40, P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands USD P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands USD USD 15 ( ) ,300 ( ) ,500 ( ) ,700 ( ) ( ) 1. ( ) 2. ( ) 3. ( ) 4. ( ) 5. ( ) 6. ( ) 2015 ANNUAL REPORT 173

176 ( ) % ( ) USD 138, ( ) USD 9, ( ) 40,000, ( ) ( ) 40,000, ( ) 40,000, ( ) 32,500, ( ) ( ) 32,500, ( ) 32,500, ( ) 20,000, ( ) ( ) 20,000, ( ) 20,000, ( ) 12,244, ( ) ( ) 12,244, ( ) 12,244, ( ) 10,847, ( ) ( ) 10,847, ( ) 10,847, ( ) 10,000, ( ) ( ) 10,000, ( ) 10,000, ( ) 6,511, ( ) ( ) 6,511, ( ) 6,511, ( ) 9, ( ) 9, ( ) 9, ANNUAL REPORT

177 ( ) 2,500, ( ) ( ) 2,500, ( ) 2,500, ( ) 1,500, ( ) ( ) 1,500, ( ) 1,500, ( ) 1,500, ( ) ( ) 1,500, ( ) 1,500, ( ) 10, ( ) ( ) 10, ( ) 10, ( ) 48,519, ( ) 48,519, ( ) ( ) 5,391, ( ) 1 ( ) 24,382, ( ) 24,382, ( ) 172, ( ) ( ) 243, ( ) 699, ( ) 1 ( ) 25,714, ( ) 25,714, ( ) 4,186, ( ) ANNUAL REPORT 175

178 ( ) ( ) ( ) SATO Restaurant Systems Co., Ltd ( ) ( ) 55,858, ( ) 55,858, ( ) ( ) 13,046, ( ) 1 ( ) 22,121, ( ) 22,121, ( ) ( ) 3,000, ( ) 579, ( ) 1 ( ) 103,496, ( ) 103,496, ( ) ( ) 29,570, ( ) 14,785, ( ) 1 ( ) 1,049, ( ) 1,049, ( ) ( ) 450, ( ) 1 ( ) 12,000, ( ) ( ) 27,999, ( ) 1 ( ) 6,521, ( ) 6,521, ( ) ( ) 19,563, ( ) 6,521, ( ) ANNUAL REPORT

179 ( ) 7,874, ( ) 7,874, ( ) ( ) 1,800, ( ) 1 215, ( ) 10,199, ( ) 10,199, ( ) 9,800, ( ) 1 ( ) 8,669, ( ) 8,669, ( ) SAZABY LEAGUE 8,330, ( ) 1 100, ( ) 9,999, ( ) ( ) 200, ( ) 1 143, ( ) 6,429, ( ) 6,429, ( ) 5,144, ,858, ( ) 2,572, ( ) 5,144, ( ) 1 ( ) 2,572, USD 20, ANNUAL REPORT 177

180 Jose T. Pardo 1 236,376, Jose Victor P. Paterno 236,376, Philippine Seven Corp. Ma. Cristina P. Paterno 8,000, Progressive Dev. Corp. Jorge L. Araneta 11,510, Antonio Jose U. Periquet, Jr. 927, Michael B. Zalamea 1 Jose Victor P. Paterno 11,893, Philippine Seven Corp. Jose Victor P. Paterno 4,500, Convenience Distribution Inc. Philippine Seven Corp. Liwayway T. FernandezEduardo P. Bataclan 4,500, Jose Victor P. Paterno USD 46, RMB 159, ( ) USD 124, RMB 60, RMB 100, RMB 140, USD 23, RMB 440, ( ) ANNUAL REPORT

181 USD 2, USD 8, USD 8, ( ) RMB 60, ( ) ( ) USD 4, ( ) ROYAL HOLDINGS CO., LTD RMB 100, ( ) ( ) 4,000, ( ) 4,000, ( ) ( ) 6,000, ( ) 200, ( ) ( ) 200, ( ) 200, ( ) 960, ( ) 960, ( ) 80, , ( ) USD 3, ANNUAL REPORT 179

182 USD 3, ( ) ( ) USD 2, RMB 40, ( ) USD ( ) USD USD ( ) 2,871, ( ) 2,871, ( ) 1,655, ,103, ( ) 9,481, ( ) 9,481, ( ) ( ) 4,837, ( ) 3,870, ( ) 26,670, ( ) ( ) 26,670, ( ) 26,670, ANNUAL REPORT

183 / ( ) ( ) ( ) ( ) 4,559,360 4,014,706 69,629 3,945,077 0 ( 120,210 ) ( 87,258 ) - 311,378 69, ,959 0 ( 45 ) 1,328 - ( ) 400,000 3,615,914 2,832, ,127 10,258, , , ( ) 325,000 1,167, , , ,477 ( 14,843 ) ( 8,408 ) ( 0.26 ) ( ) 200, ,223 74, , ,672 16,953 27, ( ) 122, ,927 99,808 13, ,394 ( 36,180 ) ( 37,029 ) ( 3.02 ) ( ) 108,474 1,494,705 1,207, ,580 1,512,479 94, , ( ) 100, , ,458 26, ,706 ( 18,268 ) ( 25,830 ) ( 2.58 ) ( ) 65,120 79,351 88,662 ( 9,311 ) 216,208 ( 32,123 ) ( 30,027 ) ( 4.61 ) 26, ,779 95,702 51, ,934 ( 4,081 ) 5, ( ) 25, ,331 65,397 51, ,791 26,118 22, ( ) 15, , ,331 ( 15,515 ) 428,986 ( 8,748 ) ( 8,110 ) ( 5.41 ) ( ) 15,000 19,389 7,449 11,940 44,655 9,842 7, ( ) 100 6, ,715 0 (283) 2, ( ) 539,110 1,739,307 1,303, ,546 2,889,862 2,979 16, ( ) 281,042 1,004, , , ,126 76,424 78, ( ) 299, , , ,262 1,155, ,709 93, ( ) 1 15,353 96,492 ( 81,139 ) 76,609 ( 32,563 ) ( 47,210 ) ( 472, ) ( ) 690,713 1,442, , ,253 10,192,924 1,442 53, ( ) 300,000 1,506, , ,057 3,055, , , ( ) 1,478,520 4,885,865 3,141,951 1,743,914 10,336, , , ( ) 15,000 1,683,456 1,592,885 90, ,166 75,896 67, ( ) 400,000 1,283, , ,805 1,323,105 44, , ( ) 326,055 4,990,619 4,317, ,102 2,949, , , ( ) 135, , , , ,148 40,093 33, ( ) 200, , , , , , , ( ) 170, ,836 96,460 21, ,310 ( 21,351 ) ( 20,339 ) ( 1.20 ) ( ) 199,900 1,704,882 1,023, ,572 5,916, , , ( ) 257,200 9,070,244 8,653, ,777 2,889, , , ,952 1,565, ,565,389 0 ( 106 ) 359,201 - Philippine Seven Corp. 329,282 6,809,377 3,869,735 2,939,642 17,924, , , Convenience Distribution Inc. 32, , , , ,568 71,184 49, ,527,610 ( 492,259 ) 0 ( 492,259 ) 0 ( 71 ) ( 240,720 ) - ( ) 798, , ,020 ( 534,692 ) 761,042 ( 223,659 ) ( 260,640 ) - 4,088,419 2,965, ,965,238 0 ( 409 ) 209, , , ,548 0 ( 154 ) ( 154 ) - 499, , , , ,098 ( 48,875 ) ( 44,078 ) - 699,300 77,199 73,024 4, ,872 ( 140,713 ) ( 169,026 ) - 784, , ,448 77, ,803 ( 134,804 ) ( 146,506 ) - ( ) 2,197, , , ,832 1,321,756 ( 235,832 ) ( 238,784 ) - 65, ,054 91, , , , , ,915 39, ,989 0 ( 163) ANNUAL REPORT 181

184 ( ) ( ) ( ) ( ) 291,486 48,232 9,964 38,268 80, ,700 1,388,166 1,028, ,881 4,277,097 22,308 24,383 - ( ) 137,865 8, ,898 0 ( 848 ) ( 621 ) - ( ) 499,500 74,111 5,326 68,785 78, ,374 - ( ) 100, , , ,069 1,527,306 19,748 18, ( ) 2,000 2, , ( 23 ) ( 14 ) ( 0.07 ) ( ) 16,000 56,357 13,769 42, ,516 15,603 13, , , , , ,459 2,997 ( 4,702 ) - ( ) 98, , , , ,713 6,254 5,878-98, , ,995 0 ( 34 ) 8, , , , , ,776 16,431 16,226-22,978 2, ,330 0 ( 149 ) ( 149 ) - 1, ( 10 ) ( 8 ) ( 10 ) - ( ) 56, ,101 61, , ,360 49,643 45, ( ) 193,500 1,080, , ,487 2,361,822 22,817 56, ( ) 266,700 1,179, , ,999 1,577,068 30,727 24, = = = = = = = = = = ANNUAL REPORT

185 ANNUAL REPORT 183

186 ( ) ANNUAL REPORT

187 (88) ( ) ANNUAL REPORT 185

188 % 471,996, % ( ) 104 : ( ) ( ) $13,648,306 15% 30~40 (1,204,870) (9%) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 649,202 15% ANNUAL REPORT

189

190