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104 2015 ANNUAL REPORT / / / (02) 2747-8711 / spokesman@mail.7-11.com.tw / / / (02)2747-8711 / spokesman@mail.7-11.com.tw / 497 3 / (04)2376-0199 / 271 5 / (06)282-5711 / 175 5 / (07)533-1711 / 65 2 / (02)2747-8711 / 250 2 / (02)2662-8121 / 252 2 / (02)2662-9711 / 183 2 / (03)328-8711 / / 8 1 / www.pscnet.com.tw / (02)2746-3797 / / / 333 27 / www.pwcglobal.com / (02)2729-6666 / 121 6 / (03)468-3711 http://www.7-11.com.tw

CONTENT 012 014 056 016 067 040 ( ) 074 044 075

( ) ( ) 2015 2014 133,407,688 131,330,857 1.58% 45,109,265 43,179,892 4.47% 6,412,115 6,300,851 1.77% 9,566,746 10,312,119-7.23% 8,238,993 9,090,462-9.37% ( ) 7.92 8.74 ( ) 1,039,622,255 1,039,622,255 2015 2014 33.81% 32.88% 29.01% 28.08% 4.81% 4.80% 6.18% 6.92% (ROA) 13.71% 15.62% (ROE) 30.73% 36.16% 15.19 17.07 14.28 13.49 ( ) 1500 1200 6000 5000 ( ) 900 4000 600 3000 2000 300 1000 0 2011 2012 2013 2014 2015 (ROC) (ROC) (IFRS) (IFRS) (IFRS) 0 10 2015 ANNUAL REPORT

( ) 500 400 80 70 ( ) 300 60 50 200 40 30 100 20 10 0 2011 2012 2013 2014 2015 (ROC) (ROC) (IFRS) (IFRS) (IFRS) 0 ( ) 40 20 ( ) 35 30 15 25 20 10 15 10 5 5 0 0 2011 2012 2013 2014 2015 (ROC) (ROC) (IFRS) (IFRS) (IFRS) ( ) 5 4 3 2 1 0 2010 2011 2012 2013 2014 2015 ANNUAL REPORT 11

2015 2015 2,054.8 82.4 7-ELEVEn CITY CAFE 2015 2016 CITY MUJIMister DonutDuskin Starbucks 7-ELEVEn ibon ibon APP icash2.0 OPENPOINT 2015 7-ELEVEn 2015 8,874 599 7-ELEVEn 2015 1,600 (Mindanao) 900 12 2015 ANNUAL REPORT

Letter to Shareholders 40 (Starbucks Reserve Roastery and Tasting Room) ( ) 2015 7-ELEVEn O2O(Online to Offline) 2015 2015 A++ 5% MSCI 2014 500 35 7-ELELVEn 2015 CSR ISO50001 2016 7-ELEVEn 7-ELEVEn 1,900 1,200 7-ELEVEn ( ) 2015 ANNUAL REPORT 13

1987 6 10 1987 ( ) 1988 EOS 1989 300 7-ELEVEn 1990 ( ) 7-ELEVEn 1991 100 1994 DUSKIN ( ) 1995 1,000 ( ) 1996 POS 1997 ( ) Starbucks ( ) 1999 2,000 ( ) ( ) ( ) ( ) 2000 7-ELEVEn ( ) 7-ELEVEn (Philippine Seven Corp.) 2002 3,000 7-ELEVEn CAS 18 2004 POS 7-ELEVEn icash 7-ELEVEn ( ) ( ) ( ) 2005 4,000 2005 2006 ibon ( ) ( ) 12 2007 7-ELEVEn Light Down 4,000 7-ELEVEn CITY CAFE 1,000 ; 2007 2008 ( ) 7-ELEVEn OPEN 2008 2009 ( ) ( ) 7-ELEVEn 15 ; 6 ; 2009 ; Outstanding Corporate Social Innovation 2003 7-ELEVEn 2002 14 2015 ANNUAL REPORT

Corporate Overview 2010 7-ELEVEn 2011 16 ibon ibon ibon Mart 7-ELEVEn 800 7-ELEVEn 2012 7-ELEVEn ibon ibon POS 18 2012 2013 POS 7-ELEVEn 7-ELEVEn 50 2015 7-ELEVEn MAS 7-ELEVEn i B2C ibon ibon APP 7-ELEVEn 1,600 2015 250 A++ 5% 100 2015CSR 2015 ISO50001 2015 7-ELEVEn 2015 2016 CITY CITY CAFE Cheers 2016 Top100 2014 5000 ( ) icashicash Mister Donut 2015 ANNUAL REPORT 15

( ) 2016 4 30 ( ) 7-ELEVEn 7-ELEVEn 16 2015 ANNUAL REPORT

Corporate Governance ( ). 2016 04 30 ( ) ( ) ( ) 2015.06.18 3 1987.06.10 471,996,430 45.40% 471,996,430 45.40% ( ) ( ) 2015.06.18 3 2013.12.19 1,032,215 0.10% 1,032,215 0.10% 1,014,315 0.10% ( ) ( ) ( ) ( ) ( ) ( ) 2015.06.18 3 2009.06.10 4,876,775 0.47% 5,036,775 0.48% 2015.06.18 3 2010.03.20 1,014,315 0.10% 1,014,315 0.10% 1,032,215 0.10% Marymount College,USA ( ) 2015.06.18 3 2008.02.14 ( ) ( ) ( ) 2015.06.18 3 2003.06.24 ( ) ( ) ( ) 2015.06.18 3 2012.06.21 13,652 13,652 ( ) ( ) ( ) 2015.06.18 3 2015.06.18 ( ) ( ) ( ) ( ) ( ) ( ) ( ) 2015.06.18 3 2015.06.18 391 391 2015.06.18 3 2015.06.18 2015.06.18 3 2012.06.21 ( ) ( ) ( ) ( ) ( ) 2015.06.18 3 2015.06.18 556 556 737 ( ) 2015.06.18 3 2012.06.21 20,000 2015.06.18 3 2012.06.21 ( ) ( ) 2015.06.18 3 2012.06.21 ( ) ( ) ( ) 78 ( ) 78 2015 ANNUAL REPORT 17

Corporate Governance 2. 1 1 2 3 4 5 6 7 8 9 10 3 1 (1) (2) ( ) (3) (4) (5) (6) (7) (8) (9) 30 (10) 27 3. 2015 12 31 (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%) 4. 2015 12 31 (61.61%) (20.13%) (13.41%) (1.61%) (1.19%) (1.07%) (0.98%) 18 2015 ANNUAL REPORT

Corporate Governance ( ) 2016 04 30 ( ) 2012.06.21 13,652 ( ) 1999.01.01 2008.06.13 2012.08.01 ( ) 2012.08.01 2012.08.01 113 2013.01.01 2013.01.01 717 2,000 2008.10.01 1,121 ( ) 2014.06.19 282 ( ) 2010.04.01 556 737 2014.10.15 1,129 2015.3.19 1,251 2011.07.01 2014.11.06 80 80 2016 1 2016 2 2015 ANNUAL REPORT 19

Corporate Governance ( ) 1. ( ) (A) (B) (C) (D) ABC D (E) (F) (G) ( ) 2015 12 31 / (H) (I) ABC DEF G () 2,230 2,350 135,424 140,065 1.67% 1.73% 1.67% 1.73% 960 ( ) 70,122 75,706 77 4,800 5,080 0.91% 0.98% 0.91% 0.98% ( ) ( ) 2015 6 17 2015 2015 12 31 / ABC ABC DEF D G (A) (G) (B) (C) (D) (E) (F) ( ) (H) (I) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( )/ 1,005 2,360 12,898 12,898 4,933 5,742 0.23% 0.25% 37,571 37,571 534 534 2,216 2,216 0.72% 0.74% 960 ( ) ( )/ ( ) ( ) ( ) ( ) ( ) ( )/ ( ) 2015 6 18 2015 6 17 ( ) : 2015 ( ) 20 2015 ANNUAL REPORT

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 50,000,000 100,000,000 100,000,000 17 17 17 17 2. 2015 12 31 / (A) (B) (C) ( ) (D) ( ) ABC D 23,417 25,337 1,421 1,421 41,963 41,963 5,787 5,787 0.88% 0.90% ( ) 2015 2015 2 2,000,000 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 50,000,000 100,000,000 100,000,000 6 6 2015 ANNUAL REPORT 21

Corporate Governance 3. 2015 12 31 / ( ) 13,436 13,436 0.16% ( ) ( ) ( ) ( ) 2015 2015 2 2015 3 2015 5 ( ) 1. 2015 ( ) 2014 ( ) 3.30% 0.88% 3.45% 0.90% 5.72% 1.02% 5.92% 1.04% 2015 8,238,993 2014 9,090,462 2. (1) (2) ( 42 ) (3) 22 2015 ANNUAL REPORT

Corporate Governance ( ) 7 A ( ) ( ) / ( ) 7 0 100% 2015 6 18 ( ) 7 0 100% 2015 6 18 ( ) 7 0 100% 2015 6 18 ( ) 7 0 100% 2015 6 18 ( ) 7 0 100% 2015 6 18 ( ) 7 0 100% 2015 6 18 ( ) 5 0 100% 2015 6 18 ( ) 5 0 100% 2015 6 18 ( ) 5 0 100% 2015 6 18 ( ) 5 0 100% 2015 6 18 ( ) 0 2 0% 2015 6 17 ( ) 2 0 100% 2015 6 17 ( ) 0 2 0% 2015 6 17 ( ) 2 0 100% 2015 6 17 7 0 100% 2015 6 18 7 0 100% 2015 6 18 7 0 100% 2015 6 18 14 3 2012 6 21 14 3 2015 3 18 2005 3 8 2005 6 14 2012 3 21 2012 12 19 2011 8 19 2012 6 21 2015 ANNUAL REPORT 23

Corporate Governance ( ) 7 A (%) / ( ) 7 100 2015 6 18 7 100 2015 6 18 7 100 2015 6 18 14 5 14 5 2015 2015 ( ) 2014 12 19 Team 24 2015 ANNUAL REPORT

Corporate Governance 1. 2. 13 2 CSR 1. 10 2. 1. 2015 2. 3. 4. 5. 6. www.7-11.com.tw 1. www.7-11.com.tw Team 2. 3. 2015 ANNUAL REPORT 25

Corporate Governance 1. 2. 2015 vs. 3 3 SGVUpdates on Philippine Practices on Corporate Governance & Enterprise Risk Management 4 18 3. 4. 5. 2015 MSCI MSCI "Best in class" 6. 2015 A++ 5% 7. Team 8. 9. 10. 2015 2012 04/24 vs. 3 10/23 3 08/07 3 11/24~11/25 ( ) 12 07/29 SGV & Co. Philippines Updates on Philippine Practices on Corporate Governance & Enterprise Risk Management 4 26 2015 ANNUAL REPORT

Corporate Governance 12/01 3 12/18 3 05/08 3 08/07 3 11/05 3 04/17 3 ( ) 1. 1 2 3 4 5 6 7 8 3 (1) (2) (3) (4) (5) (6) (7) (8) 30 2. (1) 3 (2) 2015 6 18 2018 6 17 3 ( ) ( ) (%)( / ) ( ) 3 0 100% 3 0 100% 3 0 100% 2015 6 18 2015 6 18 2015 6 18 ( ) 2015 ANNUAL REPORT 27

Corporate Governance ( ) CSR 2012 CSR CSR 5 2015 CSR CSR LED : (GHG Protocol) 28 2015 ANNUAL REPORT

Corporate Governance PCSC 2012 2015 28 63 Email ( ) Email 2013 2015 ANNUAL REPORT 29

Corporate Governance team CSR ( ISO 22000/ HACCP/CAS ) CSR 2013 2016 1. 2. 1. 2. 1. 2. TFDA 6 ( 48 ) TAF 3 ( ) 625 13 2015 1000 3. 2015 4. ( / / / / / ) 2015 12 1 5. 2015 ISO50001 www.7-11.com.tw 2014 2014 (GRI) 4.0 30 2015 ANNUAL REPORT

Corporate Governance ( ) 2014 12 19 2015 8 4 02-2747-8032 2015 8 1. 2. 02-2747-8032 2015 2015 12 2,072 99.6% 2015 ANNUAL REPORT 31

Corporate Governance 1. e-mail 2. 2015 12 85 3. 2014 12 19 2015 8 4 ( ) 7-ELEVEn ( ) 1. 81 2. ( ) ( ) 1. ( ) 2015 2015 2015 6 18 32 2015 ANNUAL REPORT

Corporate Governance (1) 2014 (2) 2014 2014 80 2,011 5,330 7.0 2015 9 4 7.0 (3) : (4) ( ) ( ) ( ) : 2015 7 13 (5) : 2. ( ( ) ( ) ( ) 2015 2016 ) 2015 7 (1) ( 2015 3 18 2014 2014 2014 2014 2015 2014 2015 2015 ( ) 2015 ( ) ( ) CSR 2015 ANNUAL REPORT 33

Corporate Governance ( ) 2015 (2) ( 2015 5 5 ) ( ) (3) ( 2015 6 18 ) 2014 (4) ( 2015 8 4 ) ( ) ( ) ( ) (5) ( 2015 11 5 ) 34 2015 ANNUAL REPORT

Corporate Governance ( 2015 12 10 ) 2016 2016 2016 2016 2016 ( 2016 3 16 ) 2015 2015 2015 2015 2015 2015 2016 2016 2016 ( ) ( ) 2015 2016 4 30 2015 ANNUAL REPORT 35

Corporate Governance ( ) 2015 1 2,000 2 2,000 4,000 3,495 3,495 3 4,000 6,000 4 6,000 8,000 5 8,000 10,000 6 10,000 11,827 11,827 11,827 3,495 15,322 11,827 3,495 3,495 2015 CSR ( ) 1. 2014.01.01 ( ) 2. 2014.01.01 3. ( ) 36 2015 ANNUAL REPORT

Corporate Governance ( ) 2015 4 30 ( ) 0 0 0 0 ( ) 120,000 0 160,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ( ) 0 0 0 0 ( ) 0 0 0 0 ( ) 0 0 0 0 0 0 0 0 / 0 0 0 0 / ( ) ( ) 0 0 0 0 ( ) 0 0 ( ) 0 0 ( ) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ( ) 0 0 0 0 ( ) 0 0 0 0 ( ) 0 0 0 0 ( ) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ( ) 0 0 0 0 ( ) 0 0 ( ) -9,000 0 0 0 0 0 0 0 0 0 ( ) 2015 6 ( ) 2015 6 2015 2 2015 3 2015 5 2016 1 2016 2 2015 3 ( ) ( ) 2015 ANNUAL REPORT 37

Corporate Governance 2016 4 30 ( ) ( ) 471,996,430 45.40% 0 0.00% 0 0.00% ( ) : 1,032,215 0.10% 1,014,315 0.10% 0 0.00% ( ) : 0 0.00% 0 0.00% 0 0.00% ( ) : 0 0.00% 0 0.00% 0 0.00% ( ) : 13,652 0.00% 0 0.00% 0 0.00% ( ) : 0 0.00% 0 0.00% 0 0.00% ( ) : 391 0.00% 0 0.00% 0 0.00% ( ) : 0 0.00% 0 0.00% 0 0.00% ( ) : 0 0.00% 0 0.00% 0 0.00% ( ) : 556 0.00% 737 0.00% 0 0.00% 21,486,608 2.07% 0 0.00% 0 0.00% FS 19,323,208 1.86% 0 0.00% 0 0.00% 18,334,162 1.76% 0 0.00% 0 0.00% 15,718,044 1.51% 0 0.00% 0 0.00% 13,682,000 1.32% 0 0.00% 0 0.00% 11,605,000 1.12% 0 0.00% 0 0.00% 9,569,000 0.92% 0 0.00% 0 0.00% 9,022,910 0.87% 0 0.00% 0 0.00% 8,899,647 0.86% 0 0.00% 0 0.00% 38 2015 ANNUAL REPORT

Corporate Governance : 2015 12 31 / % 138,899,066 100.00% 0 0.00% 138,899,066 100% 8,746,008 92.20% 740,000 7.80 9,486,008 100% ( ) 40,000,000 100.00% 0 0.00% 40,000,000 100% ( ) 10,000,000 100.00% 0 0.00% 10,000,000 100% ( ) 10,000 100.00% 0 0.00% 10,000 100% ( ) 2,500,000 100.00% 0 0.00% 2,500,000 100% ( ) 10,847,421 100.00% 0 0.00% 10,847,421 100% ( ) 6,511,963 100.00% 0 0.00% 6,511,963 100% ( ) 1,500,000 100.00% 0 0.00% 1,500,000 100% ( ) 20,000,000 100.00% 0 0.00% 20,000,000 100% ( ) 1,500,000 100.00% 0 0.00% 1,500,000 100% ( ) 12,244,390 100.00% 0 0.00% 12,244,390 100% 9,800 100.00% 0 0.00% 9,800 100% ( ) 32,500,000 100.00% 0 0.00% 32,500,000 100% ( ) 48,519,890 90.00% 1 0.00% 48,519,891 90.00% ( ) 24,382,921 86.76% 1 0.00% 24,382,922 86.76% ( ) 80 80.00% 1 1.00% 81 81.00% ( ) 55,858,815 80.87% 13,046,359 18.89% 68,905,174 99.76% ( ) 22,121,962 73.74% 1 0.00% 22,121,963 73.74% ( ) 103,496,399 70.00% 29,570,401 20.00% 133,066,800 90.00% ( ) 1,049,999 70.00% 1 0.00% 1,050,000 70.00% ( ) 27,999,999 70.00% 12,000,001 30.00% 40,000,000 100.00% ( ) 19,563,271 60.00% 6,521,091 20.00% 26,084,362 80.00% ( ) 25,714,475 86.00% 1 0.00% 25,714,476 86.00% ( ) 7,874,999 58.33% 1 0.00% 7,875,000 58.33% ( ) 10,199,999 51.00% 1 0.00% 10,200,000 51.00% ( ) 8,669,999 51.00% 1 0.00% 8,670,000 51.00% ( ) 9,999,999 50.03% 1 0.00% 10,000,000 50.03% ( ) 7,500,049 50.00% 1 0.00% 7,500,050 50.00% ( ) 1,833,333 36.67% 2,833,333 56.67% 4,666,666 93.33% ( ) 10,691,337 30.00% 7,127,558 20.00% 17,818,895 50.00% ( ) 6,429,999 25.00% 5,144,001 20.00% 11,574,000 45.00% ( ) 72,000,000 20.00% 108,000,000 30.00% 180,000,000 50.00% ( ) 19,930,000 19.93% 72,120,000 72.12% 92,050,000 92.05% ( ) 130,801,027 19.50% 137,511,893 20.50% 268,312,920 40.00% ( ) 263,387,500 19.00% 561,431,250 40.50% 824,818,750 59.50% ( ) 750,000 15.00% 0 0.00% 750,000 15.00% ( ) 44,100,000 3.33% 942,430,230 71.24% 986,530,230 74.57% ( ) 108,160 0.02% 89,574,848 16.56% 89,683,008 16.58% 2015 ANNUAL REPORT 39

( ) 1. / 2016 4 30 / 2002/07 10 900,000,000 9,000,000,000 772,031,899 7,720,318,990 2003/07 10 900,000,000 9,000,000,000 858,499,471 8,584,994,710 2004/08 10 960,000,000 9,600,000,000 915,160,436 9,151,604,360 2009/08 10 1,050,000,000 10,500,000,000 1,039,622,255 10,396,222,550 2002.07.19(91) ( ) 0910140565 2003.07.17(92) ( ) 0920132220 2004.7.20 0930132295 2009.7.16 0980035714 1987 6 100,000,000 2016 4 30 10,396,222,550 2. 1,039,622,255 10,377,745 1,050,000,000 ( ) 2016 4 30 / 0 0 165 17,525 975 18,665 0 0 580,159,010 34,236,050 425,227,195 1,039,622,255 0.00% 0.00% 55.81% 3.29% 40.90% 100% ( ) 2016 4 30 / 1 999 9,571 1,895,969 0.18% 1,000 5,000 7,013 13,125,425 1.26% 5,001 10,000 734 5,320,126 0.51% 10,001 15,000 256 3,163,614 0.30% 15,001 20,000 121 2,203,572 0.21% 20,001 30,000 165 4,091,409 0.39% 30,001 50,000 152 5,993,307 0.58% 50,001 100,000 186 13,648,726 1.31% 100,001 200,000 143 20,518,710 1.97% 200,001 400,000 111 31,580,614 3.04% 400,001 600,000 51 24,848,483 2.39% 600,001 800,000 23 15,565,257 1.50% 800,001 1,000,000 26 24,106,259 2.32% 1,000,001 113 873,560,784 84.03% 18,665 1,039,622,255 100% 40 2015 ANNUAL REPORT

Fund Raising ( ) 2016 4 30 471,996,430 45.40% 21,486,608 2.07% 19,323,208 1.86% 18,334,162 1.76% 15,718,044 1.51% 13,682,000 1.32% 11,605,000 1.12% 9,569,000 0.92% 9,022,910 0.87% 8,899,647 0.86% ( ) 2014 2015 2016 4 30 2015 2016 2016 2.35 ( ) 1. (1) 253 259 242 181 191.5 188 222.25 221.87 221.70 25.50 26.08 28.42 18.50 ( ) ( ) ( ) 1,039,622,255 1,039,622,255 1,039,622,255 ( ) 8.74 7.92 2.35( ) ( ) 8.74 ( ) 7.00 7.20 0 ( ) 0 ( ) 0 ( ) 25.43 28.01 31.75 ( ) 3.15% ( ) 235 1 2015 12 10 2016 2015 ANNUAL REPORT 41

Fund Raising (2) 3 50%~100% 2. 2016 2015 2016 3 16 2015 74 8,528 236 7.2 ( ) ( ) 1. 2. 2015 (1) 4 4,394 9,053 1 4,832 1,652 (2) 443,949 148,322 3. 2014 481,207 160,402 4. 5. 2014 4 8,120 6,920 1 6,040 2,307 42 2015 ANNUAL REPORT

Fund Raising 6. 2014 ( ) ( ) 16,252 16,252 ( ) ( ) : ( ) ( ) ( ) ( ) ( ) ( ) 2015 12 31 ( ) 2015 12 31 2015 ANNUAL REPORT 43

( ) 1. (1) F203020 (2) F206020 (3) F203010 (4) F208040 (5) F399990 (6) IZ01010 (7) F201070 (8) F209060 (9) JE01010 (10) IE01010 (11) I401010 (12) F207050 (13) F210010 (14) F210020 (15) F216010 (16) JZ99030 (17) F204110 (18) A102060 (19) F213010 (20) F208031 (21) F205040 (22) F207030 (23) F401010 (24) JA01010 (25) F214030 (26) G202010 (27) IZ14011 (28) JZ99050 (29) IZ99990 (30) F401161 (31) F401171 (32) ZZ99999 (33) F301010 (34) F301020 (35) F399010 (36) F501030 (37) F501060 (38) G902011 (39) I301010 (40) I301030 (41) F206010 (42) F212011 (43) F212050 (44) JA01990 (45) F212061 (46) I101090 (47) IZ09010 (48) J701020 (49) F102040 (50) F102170 (51) F106020 (52) I103060 (53) J304010 (54) J303010 ( ) (55) IZ12010 (56) JA03010 (57) F201010 (58) F501990 2. 2014 2015 130,407,662 65.06% 132,826,559 64.64% 57,525,919 28.70% 59,938,346 29.17% 2,323,032 1.16% 2,233,152 1.09% 10,181,766 5.08% 10,483,260 5.10% 200,438,379 100.00% 205,481,317 100.00% 2015 2013 IFRS 2014 44 2015 ANNUAL REPORT

Operating Highlights 3. ( ) ( ) 700 100 CITY CAFE CITY CAFE icash OPENPOINT OPENPOINT ibon ibon ibon APP 200 600 7-ELEVEn 7-ELEVEn ibon mart ( ) 1. 2015 10.6% 0.75% 2014 3.92% 3.17 2015 (CPI) 0.31%2015 3.78% 2014 3.96% 2. 2015 4 198 2014 0.31% 1 1,505 2014 3.98% 1,804 2014 7.89% 1,830 2014 4.08% 2 2015 0.31% ( ) 0.79% 3.13% 2.25%3C 2015 ANNUAL REPORT 45

Operating Highlights 2015 OK 5,028 2,972 1,286 862 10,148 3. 4. (1) (2) Know-how ( ) 1. ibon ibon APP 2. 7-ELEVEn MYDAY Gogoro 3. OPENPOINT 4. 5. Pi O2O 6. 7-11 APP 7-11 APP 7. 2015 149,711 46 2015 ANNUAL REPORT

Operating Highlights ( ) 1. (1) (2) (3) (4) 2. (1) (2) (3) (4) (5) ( ) 1. ( ) 2. 2015 49.6% 3. (1) (2) (3) (4) (5) IT Infra (6) (7) 2015 ANNUAL REPORT 47

Operating Highlights 4. / (1) (2) (3) ( ) 1. 2. ( ) ( ) ( ) 1. 2. (1) 2014 2015 2016 ( ) 13,987,629 10% ( ) 13,988,419 10% 137,779,532 100% 139,200,450 100% 34,844,146 100% 2015 2013 IFRS 2014 (2) ( ) 48 2015 ANNUAL REPORT

Operating Highlights ( ) 2014 2015 130,407,662 132,826,559 57,525,919 59,938,346 2,323,032 2,233,152 10,181,766 10,483,260 200,438,379 205,481,317 ( ) 2014 2015 2016 4 30 10,662 12,365 12,582 3,894 4,263 4,450 14,984 15,878 14,976 29,540 32,506 32,008 32 32 32.3 5.6 4.9 5.0 0.0% 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% ( ) 1. 2. 2015 ANNUAL REPORT 49

Operating Highlights 2015 2,693 40,797 243,958 16,012 421 29,186 152,439 33,735 397 3,932.5 1597 185,242 356,430 3. 4. (1) (2) (3) ( ) ( ) (CSR) ( ) 2015 9 2 (1) 2 9 (2) 1 6 (3) 2 6 (4) 1 3 (5) 7 50 2015 ANNUAL REPORT

Operating Highlights ( ) 1. : ( )/ -PLA 16,376 279,424 295,800-401 1,477 1,066 T5 26,290 / 370 / 2,644 164,588 370 164,958 260,116 260,116 406 44,280 29,081 73,361 FCS 26,123 25,757 51,880 247.4 60.7 0.5 8.1 / 9.0 3,146 3,146 2,974 17,612 431 ( / / )429 15,025 15,025 1,270 104 83 5,046 52,437 53,707 251,367 666,626 917,993 2. 2015 431,600 3. 2015 ANNUAL REPORT 51

Operating Highlights ( ) 1. (1)104 1,477 3,545 17.8 / 214 / (2)104 401 33,684 52.6 / 631 / (3)104 406 44,280 2,030 (4)104 1,066 95,940 42.2 / 507 / (5)104 370 10,882 9.7 / 117 / (6)104 T5 26,290 20,538 12.4 / 149 / (7)104 / 2,644 6 294 2. 2015 25,772 ( ) (RoHS) (RoHS) ( ) 1. 2. (1) 1987 12 21 (76) 58459 52 2015 ANNUAL REPORT

Operating Highlights (2) (3) 2009, (4) 2010 5 2015 54 1,984 3. 4. (1) (2) (3) (4) 2015 48 (5) (6) 5. (1) 2014 6 1 15 ( ) 45 ( ) 2015 ANNUAL REPORT 53

Operating Highlights (2) (3) 2005 7 1 ( (1)) 6% ( ) 1. E-MAIL 2. (1) (2) (3) (4) (5) (6) (7) (8) 3. 4. 54 2015 ANNUAL REPORT

Operating Highlights 2016 04 30 7-ELEVEn,INC. 2000.07.20 ~ 1. 7-ELEVEn, INC. 7-ELEVEn 2. 7-ELEVEn, INC. 7-ELEVEn, INC. 2015.12.29~2017.12.29 3 2016.03.22~2018.03.22 3 2015.07.01~2017.06.30 1,200 2016.03.01~2017.02.28 7.7 2015.07.31~2018.07.31 6.9 2015.02.27~2017.02.27 10 2015.11.11~2017.11.10 3 2015.06.30~2017.06.30 12 2015.01.06~2017.01.06 10 2015.03.31~2020.03.31 20 2015 ANNUAL REPORT 55

( ) ( ) 2011 2012 2013 2014 ( ) 2015 23,838,586 25,197,126 26,242,755 28,671,817 9,210,594 9,118,823 9,735,711 8,953,551 395,969 465,268 451,139 356,179 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 10,396,223 910,278 890,234 7,031 7,733 9,153,181 11,886,156 15,400,786 16,117,194 4,111,013 5,648,422 8,123,430 377,016 567,263 708,434 592,536 20,836,698 23,739,876 26,512,474 27,113,686 15,794,530 17,502,142 19,235,118 5 ( ) 2015 2013 IFRS 2014 56 2015 ANNUAL REPORT

Financial Information ( ) ( ) 2011 2012 2013 2014 ( ) 2015 2016 3 31 45,145,793 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 10,396,223 910,278 890,234 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 8,123,430 377,016 567,263 708,434 592,536 579,782 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 ( ) 2015 2013 IFRS 2014 2016 2015 ANNUAL REPORT 57

Financial Information ( ) - 2011 2012 21,581,358 23,703,570 19,635,754 20,870,339 8,540,837 9,210,594 222,356 395,969 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 48,553-634,091 488,133-51,876-256,925-132,771-618,213 20,694,309 22,910,410 15,704,123 17,868,242 ( ) ( )- 2011 2012 41,184,876 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 48,553-634,091 488,133-51,876-256,925-132,771-618,213 20,694,309 22,910,410 3,529,495 3,723,894 24,223,804 26,634,304 19,233,618 21,592,136 58 2015 ANNUAL REPORT

Financial Information ( ) ( ) 2011 2012 2013 2014 ( ) 2015 124,760,009 126,998,794 131,330,857 133,407,688 39,779,492 41,082,720 43,179,892 45,109,265 5,955,560 6,293,799 6,300,851 6,412,115 973,653 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 8,238,993 353,437-71,362-59,319-361,127 6,269,073 7,965,390 9,031,143 7,877,866 5.69 7.73 8.74 7.92 5 ( ) 2015 2013 IFRS 2014 ( ) ( ) 2011 2012 2013 2014 ( ) 2015 2016 3 31 ( ) 192,602,970 200,610,839 200,438,379 205,481,317 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 2,518,421-161,693 1,096,231 2,843,845 2,071,990 742,088 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 2,743,265 159,437-72,378-60,289-437,305-12,754 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 2,447,246 840,624 1,205,541 1,157,698 1,203,461 296,019 6,269,073 7,965,390 9,031,143 7,877,866 2,434,492 646,624 1,204,525 1,156,728 1,127,283 296,019 5.69 7.73 8.74 7.92 2.35 5 ( ) 2015 2013 IFRS 2014 2016 2015 ANNUAL REPORT 59

Financial Information ( ) - 2011 2012 $122,712,725 $134,569,525 38,275,309 39,408,208 6,074,940 5,785,988 2,285,947 3,159,156-930,422-1,165,195 7,430,465 7,779,949 6,352,410 6,789,362 6,352,410 6,789,362 ( ) 6.11 6.53 ( ) ( )- 2011 2012 189,251,568 208,263,975 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 ( ) 6.11 6.53 60 2015 ANNUAL REPORT

Financial Information ( ) 2011 2012 2013 2014 2015 2016 2016 ( ) 2011 2012 2014 2015 ANNUAL REPORT 61

Financial Information ( ) ( ) ( ) 2011 2012 2013 2014 2015 (%) 63.04 58.65 55.22 55.85 (%) 288.05 324.01 324.02 360.20 (%) 79.86 90.40 94.86 98.34 (%) 62.61 71.73 74.26 76.67 224.09 291.62 366.70 282.36 ( )( ) ( ) ( ) 19.71 17.53 17.07 15.19 ( ) 6.77 6.73 7.28 7.03 18.57 20.82 21.39 24.03 ( ) 13.55 13.93 13.49 14.28 ( ) 2.21 2.21 2.22 2.21 (%) 10.95 14.17 15.62 13.71 (%) 29.95 36.06 36.16 30.73 (%) 66.65 87.81 99.14 92.02 (%) 4.74 6.33 6.92 6.18 ( ) 5.69 7.73 8.74 7.92 (%) 45.09 24.75 34.81 39.63 (%) 153.99 148.10 130.06 126.93 (%)( ) 23.04 4.69 8.02 9.86 1.86 1.86 1.98 1.96 1.01 1.01 1.00 1.01 5 ( ) 64 : 2015 62 2015 ANNUAL REPORT

Financial Information ( ) ( ) ( ) 2011 2012 2013 2014 2015 2016 3 31 ( ) (%) 70.62 67.07 65.50 65.22 62.63 (%) 154.22 168.79 168.60 177.70 192.41 (%) 91.66 98.55 99.11 98.67 105.32 (%) 67.88 74.54 73.98 72.96 80.73 75.66 95.30 123.87 110.05 117.07 ( )( ) ( ) ( ) 12.28 13.20 13.31 12.47 3.20 ( ) 6.34 6.65 6.84 6.81 1.71 29.81 27.65 27.42 29.27 28.43 ( ) 9.01 9.31 9.07 9.25 2.31 ( ) 2.34 2.40 2.37 2.35 0.57 (%) 8.71 11.27 12.05 10.88 3.08 (%) 29.34 35.79 35.44 30.76 8.46 (%) 82.78 108.62 121.29 112.37 31.36 (%) 3.51 4.61 4.92 4.60 5.32 ( ) 5.69 7.73 8.74 7.92 2.35 (%) 34.62 27.95 32.86 32.92 14.50 (%) 129.36 136.76 131.32 121.06 128.32 (%) 22.71 14.09 16.06 12.98 10.21 2.28 2.09 2.27 2.24 2.1 1.01 1.01 1.01 1.01 1.01 5 ( ) 2016 64 2015 ANNUAL REPORT 63

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) ( ) ( ) - 2011 2012 (%) 60.42 59.51 (%) 282.11 261.77 (%) 84.65 80.81 (%) 69.78 63.26 232.59 251.47 ( )( ) ( ) ( ) 25.62 22.07 ( ) 7.81 7.58 14 17 ( ) 14.37 14.61 ( ) 2.35 2.38 (%) 12.56 12.52 (%) 31.06 31.14 58.43 55.65 (%) 71.47 74.83 (%) 5.18 5.05 ( ) 6.11 6.53 (%) 59.10 45.92 (%) 145.51 153.97 (%) 25.37 21.39 1.80 1.85 1.01 1.01 65 64 2015 ANNUAL REPORT

Financial Information ( ) ( )- 2011 2012 (%) 67.43 67.20 (%) 150.20 134.81 (%) 96.12 93.69 (%) 69.26 69.33 94.93 83.19 ( )( ) ( ) ( ) 13.07 13.76 ( ) 6.99 7.11 27.94 26.59 ( ) 10.09 9.72 ( ) 2.54 2.56 (%) 10.09 9.92 (%) 30.07 29.98 85.80 83.95 (%) 86.20 91.13 (%) 3.78 3.66 ( ) 6.11 6.53 (%) 42.70 35.26 (%) 118.19 130.54 (%) 24.44 21.74 2.24 2.29 1.01 1.01 (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

Financial Information 82 83 ~133 134 ~ 170 66 2015 ANNUAL REPORT

( ) 2014 ( ) 2015 ( ) $47,066,566 $49,022,957 1,956,391 4.16% 22,107,291 22,339,376 232,085 1.05% 1,197,505 1,150,914-46,591-3.89% 15,472,864 16,869,465 1,396,601 9.03% 85,844,226 89,382,712 3,538,486 4.12% 47,334,489 49,685,820 2,351,331 4.97% 8,216,760 8,605,390 388,630 4.73% 55,551,249 58,291,210 2,739,961 4.93% 10,396,223 10,396,223 0.00% 7,031 7,733 702 9.98% 15,400,786 16,117,194 716,408 4.65% 26,512,474 27,113,686 601,212 2.27% 30,292,977 31,091,502 798,525 2.64% 2015 2013 IFRS 2014 1. 2. 3. ( ) 2014 ( ) 2015 ( ) $200,438,379 $205,481,317 $5,042,938 2.52% 62,658,847 66,280,867 3,622,020 5.78% 9,504,879 9,609,813 104,934 1.10% 2,843,845 2,071,990-771,855-27.14% 12,348,724 11,681,803-666,921-5.40% 10,248,160 9,442,454-805,706-7.86% 60,289-437,305-377,016-625.35% 10,187,871 9,005,149-1,182,722-11.61% 9,090,462 8,238,993-851,469-9.37% 9,031,143 7,877,866-1,153,277-12.77% 2015 2013 IFRS 2014 1. (1) (2) 2. 2015 ANNUAL REPORT 67

Financial Status, Operating Results and Risk Management ( ) 21,450,797 16,356,547 (14,817,030) 22,990,314 1. 163.6 2. 74 3. 74.1 ( ) ( ) 22,990,314 17,606,499 (15,957,953) 24,638,860 1. 2016 2. 3. ( ) 1. 7-11 2013 2014 2015 2016 2017 6,161,078 1,564,651 1,119,643 1,216,830 1,033,137 1,033,137 P.O.S. 517,117 517,117 0 0 0 0 1,942,271 270,105 406,040 693,550 294,408 294,408 / 3,675,682 764,630 882,175 620,588 690,239 690,239 2. 2015 2016 2017 5,004,235 1,448,321 1,755,059 1,800,855 1,023,538 355,561 350,410 317,567 2,710,691 591,305 1,130,216 989,170 ( P.O.S. ) 2,008,784 443,696 1,165,749 399,339 1,961,603 796,010 519,356 646,237 ( ) 1,529,930 532,587 309,583 687,760 68 2015 ANNUAL REPORT

Financial Status, Operating Results and Risk Management ( ) 1. 2016 ( ) 3,206,209 1,031,117 2017 ( ) 3,302,395 1,065,237 2018 ( ) 3,401,467 1,100,485 2019 ( ) 3,503,511 1,136,900 2020 ( ) 3,608,617 1,174,520 2. ( ) 2015 8,874 7-ELEVEn 1,602 1,200 ( ) ( ) 2015 2015 ( ) ( 1) 315,125 ( ) 870,200 ( 1) 307,797 ( 1) 301,207 1 ( ) 2016 ( ) ( ) ( ) 2016 0.81 1.75 8.32 2015 ANNUAL REPORT 69

Financial Status, Operating Results and Risk Management ( ) 1. 2. 3. 4. ( ) 1. (1) 2016 GDP 1.47% (2) (3) 2015 (CPI) -0.31% 2016 (CPI) 0.69% 70 2015 ANNUAL REPORT

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

Financial Status, Operating Results and Risk Management (3) 2016 7,192 CRM 708 2016/12 533 2016/12 ibon 2,480 2016/07 1,175 2016/12 O2O 1,090 2016/12 1,206 2016/12 O2O 4. (1) (2) 2011 3 2011 6 2011 3 2012 6 2013 2014 2015 5. (1) (2) 7-11 (3) 72 2015 ANNUAL REPORT

Financial Status, Operating Results and Risk Management 6. 2015 A++ 5% MSCI 7. 8. 9. 10. 11. 12. 13. 2015 ANNUAL REPORT 73

2015 171 ~ 182 2015 184 ~ 186 74

2014 2015 (%) 4.80% 4.81% (%) 6.92% 6.18% ( ) 8.74 7.92 (%) 36.16% 30.73% ( ) 17.07 15.19 ( ) ( ) ( 100%) ( ) 1. (1) (2) 2. (1) (2) (3) 3. (1) (2) 4. / (1) 20% (2) 2015 ANNUAL REPORT 75

SupplementaryDisclosures (3) (4) (5) (6) (7) (8) 1. 2. ( ) CIA1 (CISA)1 (PMP)1 : 13 : 3 4 :1 (ISO 223001 LA) (TPIPAS) 1 TPIPAS 2 TPIPAS 2 ( ) 2015 10 30 76 2015 ANNUAL REPORT

078 080 081 082 083 134 171 184 1 2 3 4 5 6 7 8 2015 ANNUAL REPORT 77

( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 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 78 2015 ANNUAL REPORT

2015 12 31 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 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

2015 12 31 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) Philippine Seven Corp. ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 80 2015 ANNUAL REPORT

104 105 03 16 ( 1. 2. 3. 4. 5. 104 12 31 105 3 16 13 0 2015 ANNUAL REPORT 81

82 2015 ANNUAL REPORT

104 104 1 1 104 12 31 105 3 16 2015 ANNUAL REPORT 83

(105) 15001976 104 103 12 31 104 103 1 1 12 31 104 12 31 103 12 31 6,800,620 5,718,426 7.6% 6.7% 104 103 17,924,596 13,281,897 8.7% 6.6% 104 103 104 12 31 103 12 31 5,078,101 5,021,414 5.7% 5.8% 104 103 ( ) 218,314 178,207 2.4% 1.7% 104 103 12 31 104 103 1 1 12 31 104 103 ( ) 104 2013 11 19 0960042326 (88) ( ) 95577 105 3 16 84 2015 ANNUAL REPORT

104 103 12 31 104 12 31 ( ) 103 12 31 ( ) 103 1 1 % % % 1100 ( ) $ 22,990,314 26 $ 21,450,797 25 $ 20,235,519 25 1110 ( ) 5,620,386 6 6,535,463 8 6,931,752 8 1170 ( ) 4,294,865 5 4,148,471 5 3,703,554 5 1200 1,336,252 2 1,655,895 2 1,216,761 2 1220 ( ) 6,322-314 - 15,999-130X ( ) 11,550,553 13 10,772,538 13 9,997,474 12 1410 1,223,826 1 1,246,060 1 1,068,499 1 1460 - - - - 1,171,130 1 1470 2,000,439 2 1,257,028 1 652,368 1 11XX 49,022,957 55 47,066,566 55 44,993,056 55 1523 ( ) 923,129 1 998,108 1 865,199 1 1543 ( ) 27,526-35,776-44,619-1550 ( ) 10,598,635 12 9,409,409 11 9,074,072 11 1600 ( )( ) 22,339,376 25 22,107,291 26 20,919,547 26 1760 ( ) 1,416,269 2 1,202,969 2 1,157,525 1 1780 ( )( ) 1,150,914 1 1,197,505 1 1,204,122 2 1840 ( ) 1,149,951 1 1,008,370 1 934,410 1 1900 ( ) 2,753,955 3 2,818,232 3 2,747,696 3 15XX 40,359,755 45 38,777,660 45 36,947,190 45 1XXX $ 89,382,712 100 $ 85,844,226 100 $ 81,940,246 100 2100 ( ) $ 2,454,299 3 $ 1,655,957 2 $ 1,873,785 2 2110 395,000-400,000 1 305,000-2150 1,146,992 1 1,207,585 1 1,617,869 2 2170 16,933,015 19 17,121,262 20 15,938,451 19 2180 2,276,068 3 2,176,607 3 2,146,201 3 2200 ( ) 21,528,252 24 19,927,493 23 18,868,123 23 2230 ( ) 1,190,288 1 1,214,705 1 852,579 1 2260 - - - - 414,531 1 2300 ( ) 3,761,906 4 3,630,880 4 3,686,560 5 21XX 49,685,820 55 47,334,489 55 45,703,099 56 2540 ( ) 664,911 1 930,041 1 1,826,385 2 2570 ( ) 38,195-42,043-31,293-2600 ( )( ) 7,902,284 9 7,244,676 9 6,886,819 8 25XX 8,605,390 10 8,216,760 10 8,744,497 10 2XXX 58,291,210 65 55,551,249 65 54,447,596 66 ( ) 3110 10,396,223 12 10,396,223 12 10,396,223 13 ( ) 3200 7,733-7,031-890,234 1 ( ) 3310 7,384,165 8 6,493,041 8 5,931,412 7 3320 - - - - 338,453-3350 8,733,029 10 8,907,745 10 5,612,191 7 ( ) 3400 592,536-708,434 1 567,263 1 31XX 27,113,686 30 26,512,474 31 23,735,776 29 36XX 3,977,816 5 3,780,503 4 3,756,874 5 3XXX 31,091,502 35 30,292,977 35 27,492,650 34 3X2X $ 89,382,712 100 $ 85,844,226 100 $ 81,940,246 100 105 3 16 2015 ANNUAL REPORT 85

104 103 1 1 12 31 ( ) ( ) 104 103 % % 4000 ( ) $ 205,481,317 100 $ 200,438,379 100 5000 ( ) ( 139,200,450 ) ( 68 ) ( 137,779,532 ) ( 69 ) 5900 66,280,867 32 62,658,847 31 ( )( ) 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 ) 6900 9,609,813 5 9,504,879 4 7010 ( ) 1,751,552 1 1,606,351 1 7020 ( ) ( 817,748 ) ( 1 ) 461,007-7050 ( )( ) ( 107,121 ) - ( 99,830 ) - 7060 ( ) 1,245,307 1 876,317-7000 2,071,990 1 2,843,845 1 7900 11,681,803 6 12,348,724 5 7950 ( ) ( 2,239,349 ) ( 1 ) ( 2,100,564 ) ( 1 ) 8000 9,442,454 5 10,248,160 4 8200 $ 9,442,454 5 $ 10,248,160 4 ( ) 8311 ( $ 359,692 ) - ( $ 238,827 ) - 8320 - ( 16,749 ) - ( 5,884 ) - 8349 56,535-39,236-8310 ( 319,906 ) - ( 205,475 ) - 8361 ( ) ( 16,434 ) - 189,485-8362 ( ) ( 74,866 ) - ( 66,394 ) - 8370 - ( 19,400 ) - 17,163-8399 ( )( ) ( 6,699 ) - 4,932-8360 ( 117,399 ) - 145,186-8300 ( ) ( $ 437,305 ) - ( $ 60,289 ) - 8500 $ 9,005,149 5 $ 10,187,871 4 8610 $ 8,238,993 4 $ 9,090,462 3 8620 1,203,461 1 1,157,698 1 $ 9,442,454 5 $ 10,248,160 4 8710 $ 7,877,866 4 $ 9,031,143 3 8720 1,127,283 1 1,156,728 1 $ 9,005,149 5 $ 10,187,871 4 ( ) 9750 $ 7.92 $ 8.74 9850 $ 7.90 $ 8.72 105 3 16 86 2015 ANNUAL REPORT

104 103 1 1 12 31 103 ( ) 103 1 1 $ 10,396,223 $ 890,234 $ 5,931,412 $ 338,453 $ 5,616,291 $ 17,945 $ 549,318 $ 23,739,876 $ 3,758,564 $ 27,498,440 - - - - ( 4,100 ) - - ( 4,100 ) ( 1,690 ) ( 5,790 ) 103 1 1 10,396,223 890,234 5,931,412 338,453 5,612,191 17,945 549,318 23,735,776 3,756,874 27,492,650 - - 561,629 - ( 561,629 ) - - - - - - - - ( 338,453 ) 338,453 - - - - - - ( 883,679 ) - - ( 5,354,055 ) - - ( 6,237,734 ) - ( 6,237,734 ) - - - - ( 16,904 ) - - ( 16,904 ) - ( 16,904 ) - 476 - - ( 283 ) - - 193-193 103 - - - - 9,090,462 - - 9,090,462 1,157,698 10,248,160 ( ) - - - - ( 200,490 ) 198,402 ( 57,231 ) ( 59,319 ) ( 970 ) ( 60,289 ) - - - - - - - - ( 1,133,099 ) ( 1,133,099 ) 103 12 31 $ 10,396,223 $ 7,031 $ 6,493,041 $ - $ 8,907,745 $ 216,347 $ 492,087 $ 26,512,474 $ 3,780,503 $ 30,292,977 104 104 1 1 $ 10,396,223 $ 7,031 $ 6,493,041 $ - $ 8,907,745 $ 216,347 $ 492,087 $ 26,512,474 $ 3,780,503 $ 30,292,977 - - 891,124 - ( 891,124 ) - - - - - - - - - ( 7,277,356 ) - - ( 7,277,356 ) - ( 7,277,356 ) - 702 - - - - - 702-702 104 - - - - 8,238,993 - - 8,238,993 1,203,461 9,442,454 ( ) - - - - ( 245,229 ) ( 7,021 ) ( 108,877 ) ( 361,127 ) ( 76,178 ) ( 437,305 ) - - - - - - - - ( 929,970 ) ( 929,970 ) 104 12 31 $ 10,396,223 $ 7,733 $ 7,384,165 $ - $ 8,733,029 $ 209,326 $ 383,210 $ 27,113,686 $ 3,977,816 $ 31,091,502 105 3 16 2015 ANNUAL REPORT 87

104 103 1 1 12 31 104 ( ) 103 $ 11,681,803 $ 12,348,724 ( ) ( 2,223 ) ( 87 ) ( ) 12,498 2,976 ( ) 5,069,564 4,739,664 377,064 354,562 ( ) 14,757 15,506 107,121 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 ) ( ) 289,691 116,118 ( ) 14,485 91,651 ( )( ) - 100,000-4,279 ( ) 152,199 31,722 / 917,300 396,376 ( 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 1,746,582 809,379 167,066 149,605 ( 18,638 ) ( 55,124 ) 17,849,019 15,509,712 165,282 158,674 ( 2,351,356 ) ( 1,762,268 ) ( 106,135 ) ( 99,829 ) 799,737 686,098 16,356,547 14,492,387 88 2015 ANNUAL REPORT

104 103 1 1 12 31 104 ( ) 103 $ 16,800 $ 4,667 13,130 1,450,000 ( 870,200 ) ( 138,300 ) 29,841 - ( ) ( 6,363,925 ) ( 6,090,022 ) 359,883 180,269 218 218 - ( 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 ) 95,000 185,988 452,380 ( 517,772 ) ( 1,595,520 ) 284,002 173,308 ( 13,373 ) - 63,166 846 ( 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 $ 21,450,797 104 3 16 2015 ANNUAL REPORT 89

104 103 ( ) ( ) ( ) 76 6 10 ( ) 86 8 22 ( ) 45.4% 105 3 16 ( ) ( ) 103 4 3 1030010325 104 2013 ( 9 ) 104 ( 2013 IFRSs) 2013 IFRSs 1. 19 ( ) 7. 2. 11 31 7. 3. 1 4. 12 90 2015 ANNUAL REPORT

5. 13 6. 28 11 7. 7. 2013 IFRSs 2010 2013 IFRSs IFRSs 103 1 1 $ 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 10,396,223-10,396,223 890,234-890,234 11,886,156 ( 4,100 ) 11,882,056 (1) 567,263-567,263 3,758,564 ( 1,690 ) 3,756,874 (1) 27,498,440 ( 5,790 ) 27,492,650 $ 83,497,968 ($ 1,557,722 ) $ 81,940,246 2015 ANNUAL REPORT 91

2010 2013 IFRSs IFRSs 103 12 31 $ 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) 708,434-708,434 3,781,941 ( 1,438 ) 3,780,503 (1) 30,297,909 ( 4,932 ) 30,292,977 $ 87,829,373 ($ 1,985,147 ) $ 85,844,226 2010 2013 IFRSs ( ) IFRSs 104 12 31 $ 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) 592,536-592,536 3,979,254 ( 1,438 ) 3,977,816 (1) 31,096,434 ( 4,932 ) 31,091,502 $ 89,381,701 $ 1,011 $ 89,382,712 104 12 31 104 2013 IFRSs 11 C (C1B) 92 2015 ANNUAL REPORT

2010 2013 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) 2,012,496 831,349 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) 103 1 1 103 12 31 $1,185 $1,011 $6,975 $5,943 $4,100 $3,494 $1,690 $1,438 103 $6,501 $1,096 $4,547 (2) ( ) 103 1 1 103 12 31 103 ( ) ( ) 2015 ANNUAL REPORT 93

( ) 2013 / / 9 10 28 10 12 28 11 14 15 16 1 7 12 16 38 16 41 19 27 36 39 21 107 1 1 105 1 1 105 1 1 105 1 1 107 1 1 108 1 1 105 1 1 106 1 1 106 1 1 105 1 1 105 1 1 103 7 1 105 1 1 103 1 1 103 1 1 103 1 1 2010-2012 103 7 1 2011-2013 103 7 1 2012-2014 105 1 1 ( ) ( IFRSs) ( ) 1. (1) (2) (3) 2. ( IFRSs) 94 2015 ANNUAL REPORT

( ) 1. (1) (2) (3) (4) (5) 2. 104 12 31 103 12 31 103 1 1 ( BVI) 100.00 100.00 100.00 92.20 92.20 100.00 (1) ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 90.00 90.00 90.00 ( ) 86.76 86.76 86.76 ( ) 86.00 86.00 86.00 ( ) 80.00 81.00 81.00 ( ) 80.87 80.87 80.87 ( ) 73.74 73.74 73.74 2015 ANNUAL REPORT 95

104 12 31 103 12 31 103 1 1 ( ) 70.00 70.00 70.00 ( ) 70.00 70.00 70.00 ( ) 70.00 70.00 70.00 ( ) 60.00 60.00 60.00 ( ) 58.33 58.33 58.33 ( ) 51.00 51.00 51.00 51.00 51.00 51.00 ( ) 50.03 50.03 50.03 ( ) - - 51.00 (2) ( ) 25.00 25.00 25.00 (3) BVI ( ) 100.00 100.00 100.00 BVI ( ) 100.00 100.00 100.00 BVI PCSC (Vietnam) Supermarket Ltd. - 51.00 51.00 (4) BVI Presiclerc Limited( ) 100.00 98.31 98.13 ( ) ( ) 100.00 100.00 65.00 ( ) 20.00 20.00 20.00 ( ) 60.00 60.00 60.00 25.00 25.00 25.00 ( ) 100.00 100.00 100.00 ( ) 51.00 51.00 51.00 49.00 49.00 49.00 6.00 6.00 6.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) ( BVI) 100.00 100.00 100.00 BVI ( ) 100.00 100.00 100.00 100.00 100.00 100.00 60.00 60.00 60.00 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 Philippine Seven Corporation 51.56 51.56 51.56 Philippine Seven Corporation Convenience Distribution Corporation 100.00 100.00 100.00 7.80 7.80 - (1) ( ) ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 100.00 100.00 100.00 ( ) 55.00 55.00 55.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) 100.00 100.00 100.00 ( ) ( ) - 81.00 81.00 (5) ( ) ( ) 51.00 51.00 51.00 96 2015 ANNUAL REPORT

104 12 31 103 12 31 103 1 1 ( ) ( ) Presiclerc Limited( ) 100.00 - - (6) 50.00 - - (7) 100.00 100.00 100.00 ( ) ( ) 92.33 92.33 90.80 50.00 50.00 50.00 (7) (1) 103 2 7.8% 92.2% 100% (2) 103 1 (3) (4) 104 11 PCSC (Vietnam) Supermarket Ltd. (5) 104 3 19 (6) 104 12 (7) 50% 104 12 50% 104 12 3. 4. 5. 6. 2015 ANNUAL REPORT 97

( ) 1. (1) (2) (3) (4) 2. (1) A. B. C. (2) (3) (4) ( ) 1. (1) (2) (3) (4) 98 2015 ANNUAL REPORT

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

3. (1) (2) (3) ( ) ( ) ( ) 1. 2. ( ) - 1. 20 % 2. 3. 4. 100 2015 ANNUAL REPORT

5. 6. 7. 8. ( ) - ( ) 1. 2. 3. 4. 8 : 4 50 3 8 2 15 2 28 2015 ANNUAL REPORT 101

( ) ( ) ( ) 28 50 ( ) 1. 15 30 2. 3 6 3. ( ) 1. 2. 3. ( ) ( ) 1. 2. (1) 102 2015 ANNUAL REPORT

(2) A. ) B. C. 3. 12 4. ( ) 1. 2. 10% 10% 3. ( ) 4. 2015 ANNUAL REPORT 103

( ) 1. 2. 3. ( ) ( ) 104 12 31 103 12 31 103 1 1 $ 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 $ 20,235,519 1. 2. - ( ) - 104 12 31 103 12 31 103 1 1 - $ 5,616,875 $ 6,534,175 $ 6,930,551 3,511 1,288 1,201 $ 5,620,386 $ 6,535,463 $ 6,931,752 104 103 $42,249 $41,125 104 2015 ANNUAL REPORT

( ) 104 12 31 103 12 31 103 1 1 $ 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 $ 3,703,554 1. 2. 104 12 31 103 12 31 103 1 1 90 $ 101,639 $ 121,247 $ 58,543 91-180 17,842 14,323 4,192 181-365 3,426 4,475 7,727 386-2,740 $ 123,293 $ 140,045 $ 73,202 3. : (1) 104 12 31 103 12 31 103 1 1 $128,880$118,477 $102,384 (2) : 104 103 1 1 $ 118,477 $ 102,384 12,498 2,976 ( 2,095 ) - - 13,117 12 31 $ 128,880 $ 118,477 ( ) 104 12 31 $ 77,729 $ - $ 77,729 11,650,678 ( 177,854 ) 11,472,824 $ 11,728,407 ($ 177,854 ) $ 11,550,553 103 12 31 $ 113,177 $ - $ 113,177 10,762,946 ( 103,585 ) 10,659,361 $ 10,876,123 ($ 103,585 ) $ 10,772,538 103 1 1 $ 154,024 $ - $ 154,024 9,920,985 ( 77,535 ) 9,843,450 $ 10,075,009 ($ 77,535 ) $ 9,997,474 2015 ANNUAL REPORT 105

104 103 $ 137,385,989 $ 135,932,281 74,269 26,050 1,503,281 1,582,104 236,911 239,097 $ 139,200,450 $ 137,779,532 ( ) - 104 12 31 103 12 31 103 1 1 $ 265,606 $ 265,606 $ 265,606 42,230 42,448 65,164 199,626 199,521-507,462 507,575 330,770 415,667 490,533 534,429 $ 923,129 $ 998,108 $ 865,199 1. 104 103 ($74,866) ($66,394) 2. ( ) - 1. 2. 104 12 31 103 12 31 103 1 1 ( ) 104 12 31 103 12 31 103 1 1 $ 5,078,101 $ 5,021,414 $ 5,072,795 2,018,057 1,224,548 1,326,105 910,037 872,213 821,838 457,066 468,111 441,000 97,015 113,661 121,352 58,592 57,142 54,094 8,618,868 7,757,089 7,837,184 104 12 31 103 12 31 103 1 1 $ 1,495,870 $ 1,092,095 $ 849,450 407,163 352,169 308,716 76,734 208,056 78,722 1,979,767 1,652,320 1,236,888 $ 10,598,635 $ 9,409,409 $ 9,074,072 106 2015 ANNUAL REPORT

1. : (1) 104 103 $ 177,032 $ 163,814 (2) 104 103 $ 1,032,126 $ 723,782 ( ) 1. 104 1 1 $ 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 $ 22,107,291 104 1 1 $ 2,026,495 $ 2,939,703 $ 2,000,269 $ 7,240,277 $ 5,138,266 $ 2,762,281 $ 22,107,291 226,693 42,295 665,350 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 ) 61,286 236,537 136,800 ( 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 ) 12 31 $ 2,249,588 $ 2,581,358 $ 2,097,778 $ 6,604,969 $ 5,471,275 $ 3,334,408 $ 22,339,376 104 12 31 $ 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 $ 22,339,376 103 1 1 $ 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 $ 20,919,547 103 1 1 $ 2,035,673 $ 3,093,546 $ 2,018,324 $ 6,834,937 $ 4,638,635 $ 2,298,432 $ 20,919,547-42,266 408,036 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 ) 98,195 149,800 127,447 ( 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 46,108 118,784 12 31 $ 2,026,495 $ 2,939,703 $ 2,000,269 $ 7,240,277 $ 5,138,266 $ 2,762,281 $ 22,107,291 103 12 31 $ 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 $ 22,107,291 2. ( ) 3. 2015 ANNUAL REPORT 107

( ) 104 1 1 $ 902,270 $ 300,699 $ 1,202,969-228,057 228,057 - ( 14,757 ) ( 14,757 ) 12 31 $ 902,270 $ 513,999 $ 1,416,269 103 1 1 $ 898,282 $ 259,243 $ 1,157,525 3,988 56,962 60,950 - ( 15,506 ) ( 15,506 ) 12 31 $ 902,270 $ 300,699 $ 1,202,969 104 12 31 103 12 31 103 1 1 $2,020,978,767 $2,259,829,661 2% 2.63% ( ) 104 12 31 103 12 31 103 1 1 $ 600,546 $ 654,062 $ 639,385 393,414 405,256 494,967 156,954 138,187 69,770 $ 1,150,914 $ 1,197,505 $ 1,204,122 1. 2. ( ) ( ) 104 12 31 103 12 31 103 1 1 $ 2,320,964 $ 2,252,294 $ 2,065,253 294,261 393,173 475,446 42,230 55,616 62,196 96,500 117,149 144,801 $ 2,753,955 $ 2,818,232 $ 2,747,696 ( ) 1. 104 103 $456,375 $343,770 104 103 $ - $ - $ 4,279 $ - - - 100,000-289,691-116,118-14,485-91,651-152,199-31,722 - $ 456,375 $ - $ 343,770 $ - 2. 108 2015 ANNUAL REPORT

( ) 104 12 31 $ 2,404,299 0.9% 6.05% 50,000 1.23% $ 2,454,299 103 12 31 $ 1,555,957 1.05% 6.3% 100,000 1.23% 1.24% $ 1,655,957 103 1 1 $ 1,873,785 1.90% 6.44% ( ) 104 12 31 103 12 31 103 1 1 $ 8,375,014 $ 8,054,655 $ 8,223,020 3,968,227 3,765,402 3,385,698 1,513,759 1,253,591 1,072,447 891,043 1,028,465 1,024,144 776,089 789,275 706,715 729,214 579,502 608,066 684,172 700,330 482,557 225,058 164,556 148,123 4,365,676 3,591,717 3,217,353 $ 21,528,252 $ 19,927,493 $ 18,868,123 ( ) 104 12 31 103 12 31 103 1 1 $ 1,098,233 $ 1,072,486 $ 1,025,008 ICASH 765,642 670,317 685,192 436,648 348,438 305,196 407,205 443,503 492,299 223,016 232,291 208,922 130,357 166,397 371,682 700,805 697,448 598,261 $ 3,761,906 $ 3,630,880 $ 3,686,560 2015 ANNUAL REPORT 109

( ) 104 12 31 0.983% 1% $ 513,818 2.225% 2.385% 249,063 762,881 ( 97,970 ) $ 664,911 103 12 31 1.08% 1.58% $ 752,752 2.345% 2.525% 275,857 1,028,609 ( 98,568 ) $ 930,041 103 1 1 0.79% 1.981% $ 1,855,513 2.355% 2.94% 246,394 2,101,907 ( 275,522 ) $ 1,826,385 1. 2. 104 12 31 103 12 31 103 1 1 $8,407,408$7,096,571 $10,629,928 ( ) 104 12 31 103 12 31 103 1 1 $ 4,105,592 $ 3,764,538 $ 3,580,835 3,055,919 2,771,917 2,598,609 361,752 352,210 336,714 179,689 113,704 169,074 7,642 38,256 79,767 191,690 204,051 121,820 $ 7,902,284 $ 7,244,676 $ 6,886,819 ( ) 1. 94 7 1 6 15 ( ) 15 45 2%~9% Philippine Seven Corporation 110 2015 ANNUAL REPORT

(1) 104 12 31 103 12 31 103 1 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) 104 1 1 ($ 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 ) - 181,028 181,028 138,103 ( 128,494 ) 9,609 138,103 52,534 190,637 12 31 ($ 6,628,994 ) $ 2,523,402 ($ 4,105,592 ) 103 1 1 ($ 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 ) - 211,777 211,777 111,239 ( 97,319 ) 13,920 111,239 114,458 225,697 12 31 ($ 6,172,203) $ 2,407,665 ($ 3,764,538 ) (3) 19 142 104 12 31 103 12 31 2015 ANNUAL REPORT 111

(4) 104 103 1.50% 2.00% 4.00% 3.00% 0.25% 0.25% 0.25% 0.25% 104 12 31 ($ 224,656 ) $ 214,952 $ 231,373 ($ 221,647 ) 103 12 31 ($ 161,638 ) $ 279,052 $ 275,836 ($ 159,721 ) (5) 105 $150,475 (6) 104 12 31 9~16 1 $ 107,228 1-2 223,958 2-5 838,269 5 8,892,490 $ 10,061,945 2. 94 7 1 6% (1) 104 103 14% 22% 15% 22% (2) 104 103 $811,949 $704,506 ( ) 104 12 31 $10,500,000 1,050,000 $10,396,223 10 1,039,622,255 ( ) 112 2015 ANNUAL REPORT

( ) 1. 10% 50% 100% 50% 100% 2. 3. 4. 104 6 18 103 6 19 103 102 : 103 102 ( ) ( ) $ 891,124 $ 561,629-7,277,356 $ 7.00 5,354,055 $ 5.15 - - - 883,679 0.85 481,207 323,587 160,402 107,862 5. 105 3 16 104 104 ( ) $ 823,899-7,485,280 $ 7.20 443,949 148,322 6. ( ) ( ) ( ) 104 1 1 $ 216,347 $ 492,087 $ 708,434 - ( 74,866 ) ( 74,866 ) - ( 27,312 ) ( 27,312 ) - ( 6,699 ) ( 6,699 ) ( 14,933 ) - ( 14,933 ) 7,912-7,912 12 31 $ 209,326 $ 383,210 $ 592,536 2015 ANNUAL REPORT 113

103 1 1 $ 17,945 $ 549,318 $ 567,263 - ( 66,394 ) ( 66,394 ) - 4,231 4,231-4,932 4,932 185,470-185,470 12,932-12,932 12 31 $ 216,347 $ 492,087 $ 708,434 ( ) 104 103 $ 184,982,474 $ 183,227,691 20,498,843 17,210,688 $ 205,481,317 $ 200,438,379 ( ) 104 103 $ 553,587 $ 538,731 279,984 232,601 171,709 158,410 45,949 40,017 700,323 636,592 $ 1,751,552 $ 1,606,351 ( ) 104 103 $ 32,266 $ 1,069,546 ( 75,984 ) ( 49,426 ) ( 456,375 ) ( 343,770 ) ( 317,655 ) ( 215,343 ) ($ 817,748 ) $ 461,007 ( ) 104 103 $ 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 $ 190,933,500 114 2015 ANNUAL REPORT

( ) 104 103 $ 16,250,592 $ 15,257,367 1,558,729 1,421,012 983,948 875,079 776,179 695,588 $ 19,569,448 $ 18,249,046 1. 0.2% 2 104 5 20 104 12 10 2% 2% 105 2. 104 103 ( ) $443,949 $481,207 $148,322 $160,402 104 4.37% 1.46% $443,949 $148,322 103 6% 2% 103 103 ( ) ( ) 1. (1) : 104 103 $ 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) : 104 103 $ 6,699 ($ 4,932 ) ( 56,535 ) ( 39,236 ) ($ 49,836 ) ($ 44,168 ) 2015 ANNUAL REPORT 115

2. 104 103 $ 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 $ 2,100,564 104 103 3. 104 1 1 12 31 $ 26,565 $ 810 $ - $ 27,375 15,635 ( 497 ) - 15,138 23,837 11,222-35,059 168,767 90,428-259,195 ( 2,676 ) - ( 6,699 ) ( 9,375 ) 72,396 ( 906 ) - 71,490 577,517-56,535 634,052 113,253 ( 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 $ 1,111,756 103 1 1 12 31 $ 29,763 ($ 3,198 ) $ - $ 26,565 13,600 2,035-15,635 26,249 ( 2,412 ) - 23,837 144,694 24,073-168,767 ( 7,608 ) - 4,932 ( 2,676 ) 77,931 ( 5,535 ) - 72,396 538,281-39,236 577,517 102,892 10,361-113,253 8,608 4,468-13,076 934,410 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 $ 966,327 116 2015 ANNUAL REPORT

4. 104 12 31 / 93~104 $ 4,330,656 $ 4,330,656 $ 3,857,380 104~114 103 12 31 / 92~103 $ 4,580,089 $ 4,580,089 $ 3,913,893 103~113 103 1 1 / 92~102 $ 4,398,786 $ 4,398,786 $ 3,793,537 102~112 5. 104 12 31 103 12 31 103 1 1 $ 129,015 $ 81,398 $ 36,550 6. 102 7. 87 8. 104 12 31 103 12 31 103 1 1 $1,312,218$1,204,864 $1,009,884 103 20.48% 104 15.03% ( ) 104 ( ) ( ) $ 8,238,993 1,039,622 $ 7.92 $ 8,238,993 1,039,622-3,274 $ 8,238,993 1,042,896 $ 7.90 103 ( ) ( ) $ 9,090,462 1,039,622 $ 8.74 $ 9,090,462 1,039,622-2,639 $ 9,090,462 1,042,261 $ 8.72 2015 ANNUAL REPORT 117

( ) 1. 5~18 104 12 31 103 12 31 103 1 1 1 $ 93,234 $ 57,482 $ 57,171 1 5 275,409 166,230 193,346 5 98,700 121,296 151,621 $ 467,343 $ 345,008 $ 402,138 1. 3 20 104 103 $ 9,406,358 $ 8,935,965 $ 424,191 $ 357,327 104 12 31 103 12 31 103 1 1 1 $ 8,403,055 $ 7,965,422 $ 7,452,159 1 5 25,302,142 26,156,809 25,365,176 5 12,869,558 13,089,149 12,224,445 $ 46,574,755 $ 47,211,380 $ 45,041,780 2. 104 103 $ 295,246 $ 332,399 $ 1,234,907 $ 1,055,030 104 12 31 $580,476 104 114 ( ) 104 103 $ 6,226,503 $ 6,094,343 1,028,465 1,024,144 ( 891,043 ) ( 1,028,465 ) $ 6,363,925 $ 6,090,022 118 2015 ANNUAL REPORT

( ) 45.4% ( ) 1. 104 103 $ 514,133 $ 517,951 717,159 534,353 172,662 164,314 25,456 34,719 9,212 11,846 87,014 73,108 7,903 8,709 3,197 1,680 $ 1,536,736 $ 1,346,680 2. 104 103 $ 13,988,419 $ 13,987,629 268,898 183,849 4,225,744 4,184,603 950,688 932,476 $ 19,433,749 $ 19,288,557 3. 104 12 31 103 12 31 103 1 1 $ 177,174 $ 176,118 $ 178,152 165,058 110,151 65,606 77,148 72,867 94,810 5,342 2,763 12,502 $ 424,722 $ 361,899 $ 351,070 2015 ANNUAL REPORT 119

4. 104 12 31 103 12 31 103 1 1 $ 1,566,385 $ 1,494,414 $ 1,522,648 93,602 29,072 29,436 449,336 461,750 401,949 189,467 216,717 240,306 $ 2,298,790 $ 2,201,953 $ 2,194,339 5. 5 ( ) 104 12 31 103 12 31 103 1 1 $ 40,675 $ 108,991 $ 181,358 ( 646 ) ( 2,906 ) ( 5,431 ) 40,029 106,085 175,927 ( 32,387 ) ( 67,829 ) ( 96,160 ) $ 7,642 $ 38,256 $ 79,767 6. 104 12 31 103 12 31 103 1 1 $ - $ 108,845 $ 104,377 ( ) 104 103 $ 644,205 $ 879,364 1,163 2,067 $ 645,368 $ 881,431 ( ) 104 12 31 103 12 31 $ 368,869 $ 368,869 232,830 238,616 542,964 575,524 ( - ) 39,879 50,270 $ 1,184,542 $ 1,233,279 103 1 1 $ 240,226 214,247 663,298 ( - ) 63,438 $ 1,181,209 120 2015 ANNUAL REPORT

( ) ( ) 1. (1) ( ) ( ) 104 12 31 103 12 31 $ 2,320,964 $ 2,247,333 $ 2,252,294 $ 2,171,043 $ 3,055,919 $ 2,973,355 $ 2,771,917 $ 2,701,156 103 1 1 $ 2,065,253 $ 2,001,465 $ 2,598,609 $ 2,532,383 (2) : / 2. (1) (2) 2015 ANNUAL REPORT 121

3. (1) A. B. ( ) 104 12 31 103 12 31 ( : ) ( ) ( ) ( ) ( ) $ 4,241 32.825 $ 139,211 $ 2,555 31.65 $ 80,866 $ 660,900 0.2730 $ 180,426 $ 532,200 0.2646 $ 140,820 $ 858 32.825 $ 28,164 $ 1,281 31.65 $ 40,544 174,196 0.2730 47,556 53,947 0.2646 14,274 103 1 1 ( : ) ( ) ( ) $ 3,291 29.81 $ 98,105 291,271 0.2839 82,692 $ 598,200 0.2839 $ 169,829 $ 1,574 29.81 $ 46,921 638,821 0.2839 181,361 C. ( ) $42,749 A. B. 5% 0.25% 104 103 $14,051 $16,339 $14,051 $16,339 $32,778 $36,682 $32,778 $36,682 A. 122 2015 ANNUAL REPORT

B. (2) A. A B. 104 103 (3) A. ( ) B. 104 12 31 103 12 31 103 1 1 $5,620,386$6,535,463 $6,931,752 C. : 104 12 31 1 1 2 2 3 3 $ 2,518,332 $ - $ - $ - 395,000 - - - 1,146,992 - - - 19,209,083 - - - 21,528,252 - - - ( ) 144,381 583,080 101,399 - : 103 12 31 1 1 2 2 3 3 $ 1,679,220 $ - $ - $ - 400,000 - - - 1,207,585 - - - 19,297,869 - - - 19,927,493 - - - ( ) 183,169 910,530 68,034 - : 103 1 1 1 1 2 2 3 3 $ 1,917,477 $ - $ - $ - 305,000 - - - 1,617,869 - - - 18,084,652 - - - 18,868,123 - - - ( ) 305,687 1,301,877 537,257 23,276 2015 ANNUAL REPORT 123

( ) 1. ( )1. ( ) 2. ( ) 3. 104 12 31 103 12 31 103 1 1 104 12 31 $ 5,620,386 $ - $ - $ 5,620,386 655,553-64,728 720,281 202,848 - - 202,848 858,401-64,728 923,129 $ 6,478,787 $ - $ 64,728 $ 6,543,515 103 12 31 $ 6,535,463 $ - $ - $ 6,535,463 733,641-64,946 798,587 199,521 - - 199,521 933,162-64,946 998,108 $ 7,468,625 $ - $ 64,946 $ 7,533,571 103 1 1 $ 6,931,752 $ - $ - $ 6,931,752 800,035-65,164 865,199 $ 7,731,787 $ - $ 65,164 $ 7,796,951 4. (1) ( ) ( ) 124 2015 ANNUAL REPORT

(2) 5. 104 103 6. 7. 104 12 31 ( ) $ 64,728-8. 1% 104 12 31 103 12 31 103 1 1 ( ) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. ( ) ( ) 1. 2. 2015 ANNUAL REPORT 125

( ) ( ) ( ) : 104 $ 132,826,559 $ 59,938,346 $ 2,233,152 $ 10,483,260 $ - $ 205,481,317 581,129 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 $ - $ 200,438,379 923,195 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 ) ( ) 126 2015 ANNUAL REPORT

( ) 104 103 $ 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 ( ) 104 103 104 103 $ 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 ( ) 104 103 10% 2015 ANNUAL REPORT 127

104 1 1 12 31 ( ) 2 2 0 ( ) ( ) 1 ( ) ( ) $ 5,422,737 $ 107,800 $ - $ - $ - 0 $ 13,556,843 N N Y 57,516 5,000 - - - 0 143,790 N N N 1 2 50% 20% 104 1 1 12 31 ( ) ( ) - 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 ( ) 30,287,795 500,000 500,000 ( ) - 35,604,872 475,325 2.69 475,325 ( ) Duskin 300,000 180,228 0.47 180,228 ( ) 64,728-64,728 ( ) ( ) - 25,721 - - - 100,000 100,000 231,527 231,527 8,432,937 110,010 110,010 80,009 80,009 7,875,972 130,019 130,019 10,605,306 155,065 155,065 83,099 83,099 330,657 330,657 ( ) - 1,805 8.75 - - 202,848 202,848 128 2015 ANNUAL REPORT

104 1 1 12 31 ( ) ( ) 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 1,700,000 137,352,649 1,700,000 138,140,627 1,709,753 1,700,000 9,753 137,352,649 1,700,000 ( ) 132,067,830 1,500,000 - - 132,067,830 1,505,771 1,500,000 5,771 - - ( ) - - 92,071,705 1,000,000 92,071,705 1,000,424 1,000,000 424 - - ( ) - - 40,659,662 500,000 40,659,662 500,142 500,000 142 - - ( ) - - 37,375,027 600,000 37,375,027 601,334 600,000 1,334 - - ( ) 19,693,051 300,000 - - 19,693,051 300,197 300,000 197 - - ( ) - - 128,398,298 2,000,000 64,334,747 1,004,233 1,000,000 4,233 64,063,551 1,000,000 ( ) 36,537,021 600,000 66,788,586 1,100,000 73,037,812 1,203,926 1,200,000 3,926 30,287,795 500,000 1,843,608 30,082 27,293,302 450,000 29,136,910 480,547 480,082 465 - - - - 26,004,473 380,000 15,399,167 225,109 225,000 109 10,605,306 155,000 1,882,518 25,157 37,158,797 498,000 34,533,485 462,782 462,607 175 4,507,830 60,550 10,634,945 138,029 102,603,785 1,335,000 104,805,793 1,363,413 1,363,000 413 8,432,937 110,029 - - 31,347,596 457,000 27,927,338 407,147 407,000 147 3,420,258 50,000 - - 63,219,695 720,000 60,592,425 690,300 690,000 300 2,627,270 30,000 14,866,405 216,155 79,374,110 1,156,000 94,240,515 1,373,044 1,372,155 889 - - - - 20,002,496 330,000 12,126,524 200,076 200,000 76 7,875,972 130,000 - - 112,936,043 1,513,500 107,724,685 1,443,938 1,443,500 438 5,211,358 70,000 ( ) ( ) 2 209,000,000 $ 1,224,548 54,387,500 $ 870,200 - $ - $ - $ - 263,387,500 $ 2,094,748 ( ) - 226,417-315,125 - - - - - 541,542 - ( 130,994 ) - 307,797 - - - - - 176,803 - - - 301,207 - - - - - 301,207 1-2 2015 ANNUAL REPORT 129

104 1 1 12 31 ( ) ( ) ( ) $ 13,648,306 15 30~40 ($ 1,204,870 ) ( 9 ) ( ) 2,862,087 3 45 ( 522,303 ) ( 4 ) ( ) 1,933,820 2 30 ( 168,920 ) ( 1 ) ( ) 896,068 1 10~54 ( 95,399 ) ( 1 ) ( ) 505,250 1 20~70 ( 57,920 ) ( 0 ) ( ) 823,471 1 30-60 ( 56,666 ) ( 0 ) ( ) 374,745-15~60 ( 69,009 ) ( 1 ) ( ) 350,700-30~65 ( 88,357 ) ( 1 ) ( ) 558,227-15~40 ( 98,320 ) ( 0 ) ( ) 200,811-30-60 ( 30,720 ) ( 0 ) ( ) 186,436-30-60 ( 49,717 ) ( 0 ) ( ) 150,049-10~54 ( 9,445 ) ( 0 ) ( ) 165,197-60 ( 17,238 ) ( 0 ) ( ) ( ) ( 186,436 ) ( 22 ) 30-60 49,717 43 ( ) ( ) ( 558,227 ) ( 65 ) 15~40 98,320 69 ( ) ( ) ( 274,340 ) ( 77 ) 15-20 23,811 69 ( ) ( ) ( 823,471 ) ( 18 ) 30-60 56,666 36 ( ) ( ) ( 710,273 ) ( 30 ) 20 63,244 29 ( ) ( 915,938 ) ( 39 ) 20 78,038 36 ( ) ( 396,542 ) ( 17 ) 20 44,388 20 ( ) 649,460 29 20 ( 58,169 ) ( 59 ) ( ) ( ) ( 886,325 ) ( 56 ) 40 112,836 65 ( ) ( 649,460 ) ( 41 ) 20 58,169 33 ( ) ( ) 274,340 11 15-20 ( 23,811 ) ( 29 ) ( ) 710,273 29 20 ( 63,244 ) ( 36 ) ( ) ( ) 1,163,562 14 30~80 ( 42,210 ) ( 2 ) ( ) ( ) ( 2,862,087 ) ( 100 ) 45 522,303 100 ( ) ( ) 886,325 10 40 ( 112,836 ) ( 10 ) ( ) ( 165,197 ) ( 2 ) 60 17,238 3 ( ) ( ) ( 763,706 ) ( 68 ) 45 155,936 66 ( ) ( 146,269 ) ( 13 ) 45 19,406 8 ( ) ( ) ( 1,163,562 ) ( 28 ) 30~80 42,210 11 ( ) ( 150,049 ) ( 4 ) 10~54 9,445 1 ( 276,355 ) ( 9 ) 90 76,709 15 ( ) 276,355 90 90 ( 76,709 ) ( 28 ) ( ) ( ) 915,938 38 20 ( 78,038 ) ( 35) ( ) ( ) ( 222,691 ) ( 24 ) 45 27,486 20 ( ) ( ) 396,542 32 20 ( 44,388 ) ( 21) ( ) ( 254,651 ) ( 17 ) 60 22,977 7 ( ) ( ) ( 161,370 ) ( 82 ) 60 30,009 83 130 2015 ANNUAL REPORT

104 1 1 12 31 ( ) ( ) ( ) $ 281,311 - - $ 83,900 $ - ( ) ( ) 112,836 8.24 - - 22,475 - ( ) ( ) 155,936 7.41 - - 145,184 - ( ) ( ) 522,303 5.96 - - 522,303 - ( ) ( ) 293,914 - - - 293,914 - ( ) ( ) 145,744 - - - 145,744-104 1 1 12 31 ( ) 0 $141,544-0.16 0 202,697-0.23 0 157,205-0.18 0 366,534-0.41 0 285,465-0.14 0 248,243-0.12 0 165,083-0.08 0 956,381-1.07 1 150,049 10~54 0.07 1 276,355 90 0.13 1 1,163,562 30~80 0.57 2 588,158 40 0.66 3 112,836 40 0.13 3 886,325 40 0.43 3 649,460 20 0.32 4 710,273 20 0.35 4 915,938 20 0.45 4 396,542 20 0.19 5 254,651 60 0.12 6 763,706 45 0.37 6 155,936 45 0.17 7 222,691 45 0.11 8 522,303 45 0.58 8 2,862,087 45 1.41 9 823,471 30-60 0.40 10 186,436 30-60 0.09 2015 ANNUAL REPORT 131

104 1 1 12 31 ( ) ( ) BVI $ 4,885,624 $ 4,885,624 138,899,066 100.00 $ 3,945,077 ($ 87,258 ) ($ 87,258 ) ( ) ( ) 288,559 288,559 40,000,000 100.00 783,127 378,181 378,181 ( ) ( ) 711,576 711,576 103,496,399 70.00 1,239,582 405,166 283,549 ( ) ( ) 904,475 904,475 55,858,815 80.87 585,704 53,902 43,590 ( ) ( ) 330,216 330,216 22,121,962 73.74 724,426 262,829 193,809 ( ) ( ) 840,000 1,120,000 27,999,999 70.00 279,163 199,681 139,777 ( ) ( ) 520,141 520,141 48,519,890 90.00 391,991 16,959 15,263 ( ) ( ) 237,437 237,437 19,563,271 60.00 416,186 307,387 184,432 ( ) ( ) 320,741 320,741 25,714,475 86.00 434,146 93,727 80,605 ( ) ( ) 332,482 332,482 24,382,921 86.76 337,216 78,966 68,509 ( ) ( ) 50,000 50,000 10,847,421 100.00 287,580 114,972 114,972 ( ) ( ) 100,400 100,400 9,999,999 50.03 340,990 360,026 180,108 ( ) ( ) 200,000 200,000 20,000,000 100.00 252,693 27,227 27,280 ( ) ( ) 102,000 102,000 10,199,999 51.00 154,203 112,358 57,539 ( ) ( ) 94,554 94,554 7,874,999 58.33 109,510 33,524 19,550 ( ) ( ) 325,000 325,000 32,500,000 100.00 235,375 ( 8,408 ) ( 8,408 ) ( ) ( ) 720,000 720,000 72,000,000 20.00 910,037 221,365 47,185 ( ) ( ) 59,400 59,400 10,691,337 30.00 407,163 827,379 248,214 ( ) ( ) 91,414 91,414 6,429,999 25.00 113,181 228,878 57,243 ( ) ( ) 861,696 861,696 19,930,000 19.93 97,015 ( 92,090 ) ( 18,256 ) ( ) ( ) 7,112,028 7,112,028 130,801,027 19.50 5,078,101 1,197,688 230,721 ( ) ( ) 3,191,700 2,321,500 263,387,500 19.00 2,018,057 ( 403,161 ) ( 76,691 ) ( ) ( ) 500,000 500,000 44,100,000 3.33 457,066 290,245 8,077 ( ) ( ) 1,702,754 1,702,754-345,449 621,100 ( 40,327 ) ( ) ( ) $ - $ - - $ 513,449 $ - $ - ( ) - - - 124,139 - - ( ) - - - 165,617 - - B.V.I. 678,963 678,963 20,684,321 100.00 1,565,389 359,199 - B.V.I. 4,088,407 4,088,407 124,551,630 100.00 2,912,061 209,421 - B.V.I. Presiclerc Limited - - - ( 848,199 ) - - Philippine Seven Corp. 678,043 678,043 236,376,070 51.56 1,564,743 720,004 - - - - 1,540,316 - - ( ) 89,415 89,415 3,000,000 100.00 238,127 ( 4,702 ) - ( ) ( ) - - - 30,568 - - Philippine Seven Corp. Convenience Distribution Inc. - - - 67,232 - - 132 2015 ANNUAL REPORT

104 1 1 12 31 ( ) $ 295,946 1 $ 169,724 $ - $ - $ 169,724 $ 439 100.00 $ 439 $ 38,268 $ - 2 387,523 1 65,650 - - 65,650 2,830,905 30.00 849,271 1,218,898-2 ( ) 499,500 1 309,122 - - 309,122 1,374 100.00 1,374 68,785-2 ( ) 2,197,800 1 1,930,076 315,125-2,245,201 ( 238,784 ) 100.00 ( 238,784 ) 284,832-2 68,266 1 65,650 - - 65,650 102,114 100.00 98,223 203,164-2 811,905 1 784,013 - - 784,013 ( 146,506 ) 100.00 ( 147,181 ) 77,865-2 699,300 1 332,517 307,797-640,314 ( 169,026 ) 100.00 ( 168,304 ) 4,175-2 499,500 1 425,494 - - 425,494 ( 44,078 ) 100.00 ( 43,466 ) 128,628-2 ( ) 134,998 1 70,311 - - 70,311 ( 621 ) 51.00 ( 317 ) 4,538-2 299,700 1 133,872 - - 133,872 24,383 55.00 ( 25,754 ) 221,384-2 ( ) 95,690 1 98,475 - - 98,475 5,878 73.74 6,524 87,622-2 199,800 1 97,406 97,406-194,812 16,226 80.00 4,868 101,466-2 ( ) 299,700 1 21,984 - - 21,984 ( 38 ) 4.46-920 - 2 ( ) 798,177 1 725,468 9,087-734,555 ( 260,640 ) 92.33 ( 240,649 ) ( 493,681) - 2 595 1 - - - - ( 10 ) 50.03 ( 5 ) 52-2 299,700 1-301,207-301,207 ( 154 ) 100.00 ( 154 ) 299,548-2 1 2 ( ) $ 4,037,132 $ 7,458,225 $ 18,654,901 ( ) 98,475 98,475 466,262 ( ) 21,984 21,984 181,138 ( ) 97,406 97,406 403,861 2015 ANNUAL REPORT 133

(105) 15002060 104 103 12 31 104 103 1 1 12 31 104 103 104 12 31 103 12 31 6,642,844 6,293,356 10.8% 10.6% 104 103 ( ) 587,659 487,363 7.5% 5.4% 104 103 12 31 104 103 1 1 12 31 ( ) 104 2013 19 0960042326 (88) ( ) 95577 105 3 16 134 2015 ANNUAL REPORT

104 103 12 31 104 12 31 ( ) 103 12 31 ( ) 103 1 1 % % % 1100 ( ) $ 14,839,057 24 $ 12,898,946 22 $ 11,778,753 20 1110 ( ) 4,400,000 7 5,300,000 9 5,750,000 10 1170 ( ) 474,644 1 500,527 1 455,916 1 1200 1,386,749 2 1,250,860 2 1,056,462 2 130X ( ) 6,129,025 10 5,495,240 9 4,835,283 8 1410 189,832 1 203,870-370,166 1 1460 - - - - 411,577 1 1470 1,252,510 2 593,312 1 538,969 1 11XX 28,671,817 47 26,242,755 44 25,197,126 44 1523 ( ) 720,281 1 798,587 1 865,199 1 1543 ( ) 25,721-34,036-42,981-1550 ( ) 19,943,038 32 19,263,995 33 18,819,771 33 1600 ( ) 8,953,551 14 9,735,711 16 9,118,823 16 1760 ( ) 1,075,964 2 1,087,892 2 1,378,302 2 1780 ( ) 356,179 1 451,139 1 465,268 1 1840 ( ) 555,510 1 502,513 1 462,373 1 1900 ( ) 1,105,034 2 1,090,045 2 1,064,325 2 15XX 32,735,278 53 32,963,918 56 32,217,042 56 1XXX $ 61,407,095 100 $ 59,206,673 100 $ 57,414,168 100 104 12 31 ( ) 103 12 31 ( ) 103 1 1 % % % 2150 $ 919,751 2 $ 990,181 2 1,395,459 3 2160 ( ) 3,456,457 6 3,058,697 5 3,082,137 5 2170 1,697,947 3 1,465,493 3 1,408,558 3 2180 ( ) 7,002,112 11 6,512,139 11 6,317,080 11 2200 ( ) ( ) 13,386,554 22 13,032,951 22 12,708,744 22 2230 ( ) 724,308 1 752,774 1 507,980 1 2310 ( ) 1,968,981 3 1,852,693 3 2,452,670 4 21XX 29,156,110 48 27,664,928 47 27,872,628 49 2540 ( ) - - - - 1,000,000 2 2570 ( ) 9,658-10,390-14,062-2640 ( ) 2,501,178 4 2,440,380 4 2,290,932 4 2645 2,191,196 3 2,177,988 3 2,083,417 3 2670 435,267 1 400,513 1 417,353 1 25XX 5,137,299 8 5,029,271 8 5,805,764 10 2XXX 34,293,409 56 32,694,199 55 33,678,392 59 ( ) 3110 10,396,223 17 10,396,223 18 10,396,223 18 ( ) 3200 7,733-7,031-890,234 1 ( ) 3310 7,384,165 12 6,493,041 11 5,931,412 10 3320 - - - - 338,453 1 3350 8,733,029 14 8,907,745 15 5,612,191 10 ( ) 3400 592,536 1 708,434 1 567,263 1 3XXX 27,113,686 44 26,512,474 45 23,735,776 41 3X2X $ 61,407,095 100 $ 59,206,673 100 $ 57,414,168 100 105 3 16 2015 ANNUAL REPORT 135

104 103 1 1 12 31 ( ) ( ) 104 103 % % 4000 ( ) ( ) $ 133,407,688 100 $ 131,330,857 100 5000 ( ) ( 88,298,423 ) ( 66 ) ( 88,150,965 ) ( 67) 5900 45,109,265 34 43,179,892 33 ( )( ) ( ) 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) 6900 6,412,115 5 6,300,851 5 7010 ( ) 1,248,430 1 1,199,235 1 7020 ( ) ( 207,461 ) - 839,111 1 7050 ( 34,002 ) - ( 28,185 ) - 7070 2,147,664 1 2,001,107 1 7000 3,154,631 2 4,011,268 3 7900 9,566,746 7 10,312,119 8 7950 ( ) ( 1,327,753 ) ( 1 ) ( 1,221,657 ) ( 1) 8200 $ 8,238,993 6 $ 9,090,462 7 ( ) ( ) 8311 ( $ 69,768 ) - ( $ 167,274 ) - 8330 - ( 187,322 ) - ( 61,653 ) - 8349 11,861-28,437-8310 ( 245,229 ) - ( 200,490 ) - 8361 ( 11,710 ) - 185,470-8362 ( 78,088 ) - ( 66,394 ) - 8380 - ( 19,401 ) - 17,163-8399 ( 6,699 ) - 4,932-8360 ( 115,898 ) - 141,171-8300 ( ) ( $ 361,127 ) - ( $ 59,319 ) - 8500 $ 7,877,866 6 $ 9,031,143 7 ( ) 9750 $ 7.92 $ 8.74 ( ) 9850 $ 7.90 $ 8.72 105 3 16 136 2015 ANNUAL REPORT

104 103 1 1 12 31 103 ( ) 103 1 1 $ 10,396,223 $ 890,234 $ 5,931,412 $ 338,453 $ 5,616,291 $ 17,945 $ 549,318 $ 23,739,876 - - - - ( 4,100 ) - - ( 4,100 ) 103 1 1 10,396,223 890,234 5,931,412 338,453 5,612,191 17,945 549,318 23,735,776 ( ) - - 561,629 - ( 561,629 ) - - - - - - ( 338,453 ) 338,453 - - - - ( 883,679 ) - - ( 5,354,055 ) - - ( 6,237,734 ) - - - - ( 16,904 ) - - ( 16,904 ) - 476 - - ( 283 ) - - 193 103 - - - - 9,090,462 - - 9,090,462 ( ) - - - - ( 200,490 ) 198,402 ( 57,231 ) ( 59,319 ) 103 12 31 $ 10,396,223 $ 7,031 $ 6,493,041 $ - $ 8,907,745 $ 216,347 $ 492,087 $ 26,512,474 104 104 1 1 $ 10,396,223 $ 7,031 $ 6,493,041 $ - $ 8,907,745 $ 216,347 $ 492,087 $ 26,512,474 ( ) - - 891,124 - ( 891,124 ) - - - - - - - ( 7,277,356 ) - - ( 7,277,356 ) - 702 - - - - - 702 104 - - - - 8,238,993 - - 8,238,993 ( ) - - - - ( 245,229 ) ( 7,021 ) ( 108,877 ) ( 361,127 ) 104 12 31 $ 10,396,223 $ 7,733 $ 7,384,165 $ - $ 8,733,029 $ 209,326 $ 383,210 $ 27,113,686 105 3 16 2015 ANNUAL REPORT 137

104 103 1 1 12 31 104 103 $ 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 ) ( )( ) 3,148 100,000 ( )( ) - 4,278 ( ) ( 87,564 ) ( 74,317 ) ( ) ( 45,949 ) ( 40,017 ) ( )( ) 146,253 29,451 ( ) 54,123 45,795 / 900,000 450,000 18,953 ( 53,641 ) ( 129,477 ) ( 194,067 ) ( 633,785 ) ( 659,957 ) 14,038 166,296 ( 659,198 ) ( 54,343 ) ( 14,989 ) ( 25,720 ) 327,330 ( 428,718 ) 722,427 251,994 449,083 263,253 116,288 ( 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 4,667-1,450,000 218 217 ( ) ( 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 $ 12,898,946 105 3 16 138 2015 ANNUAL REPORT

104 103 ( ) ( ) ( ) 76 6 10 86 8 22 ( ) 45.4% 105 3 16 ( ) ( ) 103 4 3 1030010325 104 2013 9 104 2013 IFRSs 2013 IFRSs 1. 19 103 1 1 103 12 31 $4,100$3,494 $4,100$3,494 103 $3,182 $1,806 $541 $3,841 2. 11 31 3. 1 2015 ANNUAL REPORT 139

4. 12 5. 13 6. 28 11 ( ) ( ) 2013 / / 9 10 28 10 12 28 11 14 107 1 1 105 1 1 105 1 1 105 1 1 / / 15 16 1 7 12 16 38 16 41 19 27 36 39 21 107 1 1 108 1 1 105 1 1 106 1 1 106 1 1 105 1 1 105 1 1 103 7 1 105 1 1 103 1 1 103 1 1 103 1 1 2010-2012 103 7 1 2011-2013 103 7 1 2012-2014 105 1 1 140 2015 ANNUAL REPORT

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

(3) (4) ( ) 1. (1) (2) (3) (4) 2. (1) (2) (3) (4) ( ) ( ) 1. 2. ( ) 1. 2. 142 2015 ANNUAL REPORT

( ) ( ) 1. 2. (1) (2) (3) 3. (1) (2) (3) ( ) ( ) ( ) 1. 2. 2015 ANNUAL REPORT 143

( ) / 1. 2. 3. 4. ( ) 5. 6. 20% 7. 8. 9. 10. 11. 12. 144 2015 ANNUAL REPORT

13. 14. 15. ( ) 1. 2. 3. 4. 8 : 50 4 7 7 ( ) ( ) ( ) 50 2015 ANNUAL REPORT 145

( ) 3 15 ( ) 1. 2. 3. ( ) ( ) 1. 2. (1) (2) A. ) B. C. 3. 12 146 2015 ANNUAL REPORT

4. ( ) 1. 2. 10% 10% 3. ( ) 4. 5. ( ) 1. 2. 3. 2015 ANNUAL REPORT 147

( ) 104 12 31 103 12 31 $ 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 $ 12,898,946 1. 2. ( ) - 104 12 31 103 12 31 $ 4,400,000 $ 5,300,000 104 103 $32,523 $34,182 ( ) 104 12 31 103 12 31 $ 542,140 $ 564,276 ( 1,062 ) ( 1,839 ) ( 66,434 ) ( 61,910 ) $ 474,644 $ 500,527 1. 2. 3. : (1) 104 103 12 31 $66,434 $61,910 (2) : 104 103 1 1 $ 61,910 $ 52,880 6,930 9,030 ( 2,406 ) - 12 31 $ 66,434 $ 61,910 148 2015 ANNUAL REPORT

( ) 104 12 31 $ 6,213,505 ($ 84,480 ) $ 6,129,025 103 12 31 $ 5,515,275 ($ 20,035 ) $ 5,495,240 104 103 $88,298,423 $88,150,965 $64,445 ($2,600) ( ) - 104 12 31 103 12 31 $ 265,606 $ 265,606 42,230 42,448 307,836 308,054 ( ) 412,445 490,533 $ 720,281 $ 798,587 104 103 ($78,088) ($66,394) ( ) - 104 12 31 103 12 31 $ 237,399 $ 245,714 ( 211,678 ) ( 211,678 ) $ 25,721 $ 34,036 1. 2. 104 103 12 31 ( ) 104 103 1 1 $ 19,263,995 $ 18,819,771 870,200 150,000 ( 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 ) 12 31 $ 19,943,038 $ 19,263,995 2015 ANNUAL REPORT 149

104 12 31 103 12 31 103 1 1 ( BVI) $ 3,945,077 $ 4,045,242 $ 3,907,731 1,239,582 1,019,639 870,685 724,426 885,666 883,283 783,127 733,327 629,989 585,704 551,680 576,626 279,163 499,047 455,765 416,186 424,296 397,815 434,146 407,973 435,107 391,991 380,689 393,142 337,216 353,732 352,999 340,990 300,427 266,903 252,693 255,082 208,242 235,375 245,381 281,344 287,580 238,207 213,575 154,203 152,566 135,123 109,510 113,714 99,410 113,181 113,585 103,720 210,123 365,706 473,054 10,840,273 11,085,959 10,684,513 5,078,101 5,021,414 5,072,795 2,018,057 1,224,548 1,326,105 910,037 872,213 821,838 457,066 468,111 441,000 97,015 113,661 121,352 58,592 57,142 54,094 8,618,868 7,757,089 7,837,184 407,163 352,169 308,716 76,734 68,778 ( 10,642 ) 483,897 420,947 298,074 $ 19,943,038 $ 19,263,995 $ 18,819,771 1. 104 ( ) 2. 102 12 $411,577 103 1 6 $1,450,000 3. : (1) 104 103 $ 177,032 $ 163,814 150 2015 ANNUAL REPORT

(2) 104 103 $ 255,393 $ 211,450 4. 104 103 $3,148 $100,000 ( ) 1. 104 1 1 $ 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 $ 9,735,711 104 1 1 $ 1,535,401 $ 688,654 $ 4,872,192 $ 2,636,736 $ 2,728 $ 9,735,711 - - 1,095,023 688,865-1,783,888 - - ( 66,718 ) ( 105,905 ) - ( 172,623 ) - ( 20,562 ) ( 1,422,128 ) ( 803,672 ) ( 810 ) ( 2,247,172 ) - - ( 146,253 ) - - ( 146,253 ) 12 31 $ 1,535,401 $ 668,092 $ 4,332,116 $ 2,416,024 $ 1,918 $ 8,953,551 104 12 31 $ 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 $ 8,953,551 103 1 1 $ 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 $ 9,118,823 103 1 1 $ 1,317,441 $ 663,852 $ 4,664,736 $ 2,470,037 $ 2,757 $ 9,118,823 - - 1,663,641 1,014,432 436 2,678,509 ( 6,782 ) ( 6,355 ) ( 47,531 ) ( 41,542 ) - ( 102,210 ) 224,742 50,592 - - 178 275,512 - ( 19,435 ) ( 1,379,203 ) ( 806,191 ) ( 643 ) ( 2,205,472 ) - - ( 29,451 ) - - ( 29,451 ) 12 31 $ 1,535,401 $ 688,654 $ 4,872,192 $ 2,636,736 $ 2,728 $ 9,735,711 103 12 31 $ 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 $ 9,735,711 2. 2015 ANNUAL REPORT 151

( ) 104 1 1 $ 805,515 $ 282,377 $ 1,087,892 - ( 11,928 ) ( 11,928 ) 12 31 $ 805,515 $ 270,449 $ 1,075,964 103 1 1 $ 1,030,257 $ 348,045 $ 1,378,302 ( 224,742 ) ( 50,770 ) ( 275,512 ) - ( 14,898 ) ( 14,898 ) 12 31 $ 805,515 $ 282,377 $ 1,087,892 1. 104 103 $ 55,377 $ 52,220 $ 12,260 $ 20,968 2. 104 103 12 31 $2,252,266 $2,264,120 2% 2.63% ( ) 104 1 1 $ 451,139 ( 94,960 ) 12 31 $ 356,179 103 1 1 $ 465,268 83,453 ( 97,582 ) 12 31 $ 451,139 ( ) 104 12 31 103 12 31 $ 1,103,970 $ 1,087,933 1,064 2,112 $ 1,105,034 $ 1,090,045 152 2015 ANNUAL REPORT

( ) 104 12 31 103 12 31 $ 8,375,014 $ 8,054,655 1,777,536 1,704,284 592,271 641,609 729,214 579,502 481,352 475,666 362,086 475,219 154,873 80,339 65,561 31,007 848,647 990,670 $ 13,386,554 $ 13,032,951 ( ) 104 12 31 103 12 31 $ 1,098,233 $ 1,072,486 436,648 348,438 223,016 232,291 211,084 199,478 $ 1,968,981 $ 1,852,693 ( ) 104 103 12 31 104 103 12 31 $7,000,841 $6,471,657 ( ) 1. 94 7 1 6 15 ( ) 15 45 5.21% (1) 104 12 31 103 12 31 103 1 1 ($ 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

(2) 104 1 1 ($ 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 ) 9,132 12 31 ($ 3,858,181 ) $ 1,357,003 ($ 2,501,178 ) 103 1 1 ($ 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 ) 16,247 12 31 ($ 3,752,251 ) $ 1,311,871 ($ 2,440,380 ) (3) 19 142 104 12 31 103 12 31 (4) 104 103 1.5% 2.00% 2.75% 3.00% 154 2015 ANNUAL REPORT

0.25% 0.25% 0.25% 0.25% 104 12 31 ($ 128,916 ) $ 135,005 $ 132,656 ($ 127,363 ) 0.25% 0.25% 0.25% 0.25% 103 12 31 ($ 129,351 ) $ 135,622 $ 133,941 ($ 128,429 ) (5) 105 $85,186 (6) 104 12 31 13 1 $ 84,332 1-2 132,165 2-5 411,239 5 4,978,501 2. 94 7 1 2% 15% 104 103 $177,295 $170,914 ( ) 104 12 31 $10,500,000 1,050,000 $10,396,223 10 1,039,622,255 ( ) 2015 ANNUAL REPORT 155

( ) 1. 10% 50% 100% 50% 100% 2. 3. 4. 104 6 18 103 6 19 103 102 : 103 102 ( ) ( ) $ 891,124 $ 561,629-7,277,356 $ 7.00 5,354,055 $ 5.15 - - - 883,679 0.85 481,207 323,587 160,402 107,862 5. 105 3 16 104 104 ( ) $ 823,899-7,485,280 $ 7.20 443,949 148,322 6. ( ) 104 1 1 $ 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 ) 7,912-7,912 12 31 $ 209,326 $ 383,210 $ 592,536 156 2015 ANNUAL REPORT

103 1 1 $ 17,945 $ 549,318 $ 567,263 - ( 66,394 ) ( 66,394 ) - 4,231 4,231-4,932 4,932 185,470-185,470 12,932-12,932 12 31 $ 216,347 $ 492,087 $ 708,434 ( ) 104 103 $ 127,028,252 $ 125,686,099 6,379,436 5,644,758 $ 133,407,688 $ 131,330,857 ( ) 104 103 $ 459,898 $ 470,422 45,949 40,017 73,901 81,893 87,564 74,317 581,118 532,586 $ 1,248,430 $ 1,199,235 ( ) 104 103 ( 149,401 ) ( 133,729 ) 32,523 1,062,690 ( 54,123 ) ( 45,795 ) ( 36,460 ) ( 44,055 ) ($ 207,461 ) $ 839,111 ( ) 104 103 $ 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 $ 125,030,006 2015 ANNUAL REPORT 157

( ) 104 103 $ 5,385,466 $ 5,399,374 383,261 363,641 274,878 263,367 303,434 279,446 $ 6,347,039 $ 6,305,828 104 103 12 31 ( ) 8,300 7,800 1. 0.2% 2 104 5 20 104 12 10 2% 2% 105 2. 104 103 ( ) $443,949 $481,207 $148,322 $160,402 104 4.37% 1.46% $443,949 $148,322 103 6% 2 % 103 103 ( ) ( ) 1. (1) : 104 103 $ 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) : 104 103 $ 6,699 ($ 4,932 ) ( 11,861 ) ( 28,437 ) ($ 5,162 ) ($ 33,369 ) 158 2015 ANNUAL REPORT

2. 104 103 $ 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 $ 1,221,657 104 103 3. 104 1 1 12 31 $ 10,451 $ 769 $ - $ 11,220 313 ( 132 ) - 181 114,231 6,662-120,893 ( 2,676 ) - ( 6,699 ) ( 9,375 ) 8,598 4,718-13,316 361,788-11,861 373,649 9,808 35,818-45,626 502,513 47,835 5,162 555,510 ( 10,390 ) 732 - ( 9,658 ) $ 492,123 $ 48,567 $ 5,162 $ 545,852 103 1 1 12 31 $ 8,916 $ 1,535 $ - $ 10,451 418 ( 105 ) - 313 103,091 11,140-114,231 ( 7,608 ) - 4,932 ( 2,676 ) 15,658 ( 7,060 ) - 8,598 333,351-28,437 361,788 8,547 1,261-9,808 462,373 6,771 33,369 502,513 ( 14,062 ) 3,672 - ( 10,390 ) $ 448,311 $ 10,443 $ 33,369 $ 492,123 4. 102 5. 87 6. 104 103 12 31 $1,312,218 $1,204,864 103 20.48% 104 15.03% 2015 ANNUAL REPORT 159

( ) 104 ( ) ( ) $ 8,238,993 1,039,622 $ 7.92 $ 8,238,993 1,039,622-3,274 $ 8,238,993 $ 1,042,896 $ 7.90 103 ( ) ( ) $ 9,090,462 1,039,622 $ 8.74 $ 9,090,462 1,039,622-2,639 $ 9,090,462 1,042,261 $ 8.72 ( ) 5~18 104 12 31 103 12 31 1 $ 56,000 $ 55,377 1 5 140,554 166,230 5 90,972 121,296 $ 287,526 $ 342,903 1. 3 20 104 1 1 12 31 103 1 1 12 31 $ 5,839,812 $ 5,623,863 $ 140,456 $ 164,374 104 12 31 103 12 31 1 $ 5,589,040 $ 5,503,915 1 5 18,721,134 18,417,236 5 8,707,032 8,729,374 $ 33,017,206 $ 32,650,525 160 2015 ANNUAL REPORT

2. 104 1 1 12 31 103 1 1 12 31 $ 139,355 $ 130,191 $ 347,570 $ 314,141 104 12 31 $336,582 105 112 ( ) 104 103 $ 1,783,888 $ 2,678,509 475,219 458,098 ( 362,086 ) ( 475,219 ) $ 1,897,021 $ 2,661,388 ( ) 45.4% ( ) 1. 104 103 $ 313,596 $ 312,855 642,580 630,281 $ 956,176 $ 943,136 2. ( ) 104 103 $ 13,648,306 $ 13,795,530 4,553,816 4,677,848 3,868,020 3,997,196 116,067 113,398 615,747 550,686 $ 22,801,956 $ 23,134,658 (1) (2) 10 60 2015 ANNUAL REPORT 161

3. ( ) 104 103 $ 649,202 $ 659,921 184,141 161,942 219,954 208,998 4,508 995 72,249 61,192 $ 1,130,054 $ 1,093,048 4. 104 103 $ 47,916 $ 30,408 927,967 762,688 15,025 5,623 54,006 76,370 $ 1,044,914 $ 875,089 5. ( ) 104 12 31 103 12 31 $ 48,015 $ 98,146 645,543 615,398 41,109 37,475 21,834 26,109 $ 756,501 $ 777,128 104 12 31 103 12 31 $ 335,918 $ 346,615 10,071,705 9,155,187 5,769 30,805 43,730 37,868 1,447 361 $ 10,458,569 $ 9,570,836 6. 104 12 31 103 12 31 $ - $ 108,845 ( ) 104 103 $ 317,684 $ 563,797 162 2015 ANNUAL REPORT

( ) ( ) ( ) 1. (1) ( ) ( ) 104 12 31 $ 25,721 $ 25,721 1,103,970 1,071,238 $ 1,129,691 $ 1,096,959 $ 2,191,196 $ 2,134,474 103 12 31 $ 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

2. (1) (2) 3. (1) A. 104 12 31 ( : ) ( ) ( ) $ 660,900 0.2727 $ 180,227 122,316 32.825 $ 4,015,023 103 12 31 ( : ) ( ) ( ) $ 532,200 0.2646 $ 140,820 129,848 31.65 $ 4,109,689 B. 104 103 ( ) ( ) $1,281 ($1,008) A. B. 5% 0.25% 104 103 $11,000 $13,250 $11,000 $13,250 $32,778 $36,682 $32,778 $36,682 164 2015 ANNUAL REPORT

A. (2) A. A B. 104 103 (3) A. ( ) B. 104 12 31 103 12 31 $4,400,000 $5,300,000 C. : 104 12 31 1 1 2 2 3 3 $ 4,376,208 $ - $ - $ - 8,700,059 - - - 13,386,554 - - - : 103 12 31 1 1 2 2 3 3 $ 4,048,878 $ - $ - $ - 7,977,632 - - - 13,032,951 - - - 2015 ANNUAL REPORT 165

( ) 1. ( )1. ( ) 2. ( ) 3. 104 103 12 31 104 12 31 $ 4,400,000 $ - $ - $ 4,400,000 655,553-64,728 720,281 $ 5,055,553 $ - $ 64,728 $ 5,120,281 103 12 31 $ 5,300,000 $ - $ - $ 5,300,000 733,641-64,946 798,587 $ 6,033,641 $ - $ 64,946 $ 6,098,587 4. (1) ( ) ( ) (2) 5. 104 103 6. 104 103 166 2015 ANNUAL REPORT

7. 8. 104 12 31 ( ) 64,728-9. 1% 104 103 12 31 ( ) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. ( ) ( ) 1. 2. 2015 ANNUAL REPORT 167

104 12 31 $ 714,454 2,863,502 105 2 106 1 0.7% 1.08% 7,600,000 0.44% 0.46% 3,661,101 $ 14,839,057-104 12 31 ( ) ( ) 30,287,795 $ 10 $ 500,000 $ 500,000 $ 16.5083 $ 500,000 137,352,649 10 1,700,000 1,700,000 12.3769 1,700,000 64,063,551 10 1,000,000 1,000,000 15.6095 1,000,000 82,070,923 10 1,200,000 1,200,000 14.6215 1,200,000 4,400,000 $ 4,400,000 - $ 4,400,000 104 12 31 $ 6,129,025 $ 6,301,361 104 1 1 104 12 31 ( ) 35,604,872 $ 140,534 - $ - - $ - 35,604,872 $ 140,534 Duskin 300,000 125,072 - - - - 300,000 125,072 42,448 - ( 218 ) 42,230 308,054 - ( 218 ) 307,836 490,533 - ( 78,088 ) 412,445 $ 798,587 $ - ($ 78,306 ) 720,281 168 2015 ANNUAL REPORT

104 1 1 104 12 31 ( ) 2,572,127 $ 203,714 - $ - - $ - 2,572,127 $ 203,714 4,200,000 42,000 - - ( 1,680,000 ) ( 8,315 ) 2,520,000 33,685 245,714 - ( 8,315 ) 237,399 ( 211,678 ) - - ( 211,678 ) $ 34,036 $ - ($ 8,315 ) $ 25,721 104 1 1 104 12 31 ( 1) ( 2) ( 3) ( ) BV1 138,899,066 $ 4,045,242 - $ - - ($ 87,258) ($ 12,907) 138,899,066 100.00 $ 3,945,077 $ 28.40 $ 3,945,077 40,000,000 733,327-378,181 - - ( 328,381) 40,000,000 100.00 783,127 19.58 783,127 " 86,246,999 1,019,639 17,249,400 283,548 - - ( 63,605) 103,496,399 70.00 1,239,582 11.79 1,220,739 " 55,858,815 551,680-43,590 - - ( 9,566) 55,858,815 80.87 585,704 10.49 585,704 " 22,121,962 885,666-193,809 - - ( 355,049) 22,121,962 73.74 724,426 25.57 565,628 " 55,999,999 499,047-139,777 ( 28,000,000) ( 280,000) ( 79,661) 27,999,999 70.00 279,163 9.97 279,163 " 48,519,890 380,689-15,263 - - ( 3,961) 48,519,890 90.00 391,991 8.08 391,991 " 19,563,271 424,296-184,432 - - ( 192,542) 19,563,271 60.00 416,186 20.64 403,861 " 25,714,475 407,973-80,605 - - ( 54,432) 25,714,475 86.00 434,146 12.65 325,305 " 24,382,921 353,732-68,509 - - ( 85,025) 24,382,921 86.76 337,216 13.29 324,063 " 10,847,421 238,207-114,972 - - ( 65,599) 10,847,421 100.00 287,580 26.51 287,580 " 9,999,999 300,427-180,108 - - ( 139,545) 9,999,999 50.03 340,990 34.10 340,990 " 20,000,000 255,082-27,280 - - ( 29,669) 20,000,000 100.00 252,693 12.66 253,175 " 10,199,999 152,566-57,539 - - ( 55,902) 10,199,999 51.00 154,203 15.12 154,203 " 7,874,999 113,714-19,550 - - ( 23,754) 7,874,999 58.33 109,510 13.91 109,510 " 32,500,000 245,381 - - - ( 8,409) ( 1,597) 32,500,000 100.00 235,375 7.24 235,375 " 72,000,000 872,213-47,185 - - ( 9,361) 72,000,000 20.00 910,037 12.64 910,037 " 10,691,337 352,169-248,214 - - ( 193,220) 10,691,337 30.00 407,163 38.08 407,163 " 6,429,999 113,585-57,243 - - ( 57,647) 6,429,999 25.00 113,181 16.20 104,194 " 19,930,000 113,661 - - - ( 18,256) 1,610 19,930,000 19.93 97,015 4.87 97,015 " 130,801,027 5,021,414-230,721 - - ( 174,034) 130,801,027 19.50 5,078,101 16.52 2,160,703 " 209,000,000 1,224,548 54,387,500 870,200 - ( 76,691) - 263,387,500 19.00 2,018,057 7.01 1,845,524 " 44,100,000 468,111-8,077 - - ( 19,122) 44,100,000 3.33 457,066 10.63 468,644 " ( ) 491,626 114,174 ( 154,499) ( 105,852) 345,449 345,410 " $ 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) $702 2015 ANNUAL REPORT 169

104 1 1 104 12 31 $ 1,535,401 $ - $ - $ - $ 1,535,401 946,371 - - - 946,371 12,891,092 1,095,023 ( 1,543,875 ) - 12,442,240 7,161,767 688,865 ( 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 ) 571 - ( 7,274 ) ( 12,767,838 ) ($ 2,247,172 ) $ 2,073,148 $ - ( 12,941,862 ) ( 40,845 ) ($ 146,253 ) $ - $ - ( 187,098 ) $ 9,735,711 $ 8,953,551 104 1 1 104 12 31 $ 127,028,252 6,379,436 $ 133,407,688 104 1 1 104 12 31 $ 5,495,240 92,163,036 ( 1,837,071 ) ( 312,139 ) ( 498,140 ) ( 1,624,996 ) ( 6,129,025 ) 1,041,518 $ 88,298,423 104 1 1 104 12 31 $ 15,880,747 5,816,827 3,248,545 2,485,044 2,219,202 5,097,626 $ 34,747,991 170 2015 ANNUAL REPORT

2015 12 31 100% 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

2. 369 2 ( ) ( ) 2015 12 31 1998.07.09 Tropic Isle Building, P.O. Box 438, Road Town, Tortola, British Virgin Islands USD 138,899 2004.02.16 P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands USD 9,486 ( ) 1995.07.27 8 7 400,000 ( ) 2013.11.19 101 3 325,000 ( ) 2004.06.07 2 201 200,000 ( ) 2006.12.26 8 8 122,444 ( ) 1999.01.11 2 70 1 108,474 ( ) 1995.11.18 8 2 100,000 ( ) 2000.11.20 8 12 65,120 2009.01.07 20 1 6 JPY 98,000 ( ) 1998.04.13 8 8 25,000 ( ) 2003.04.08 5 149 1 15,000 ( ) 2006.10.05 4 197 6 3 15,000 ( ) 1996.12.20 8 8 100 ( ) 1999.03.11 16 539,110 ( ) 1963.06.26 81 9 281,042 ( ) 1997.08.27 246 6 299,006 ( ) 2010.08.20 8 8 1 ( ) 1991.12.09 67 690,713 ( ) 1993.09.03 8 7 300,000 ( ) 2000.01.24 3 8 2 1,478,520 ( ) 2002.06.24 8 8 15,000 ( ) 2006.02.24 5 8 400,000 ( ) 1999.01.22 340 326,055 ( ) 2000.10.17 3 261 7 135,000 ( ) 1994.10.28 8 8 200,000 ( ) 2008.02.14 8 8 170,000 ( ) 1995.12.27 4 560 12 199,900 ( ) 1990.08.13 4 560 7 257,200 2000.10.24 Level 15(A1), Main Office Tower, Financial Park Labuan, Jalan Merdeka,87000 Labuan FT, Malaysia USD 20,684 Philippine Seven Corp. 1982.11.24 7/F The Columbia Tower, Ortigas Avenue,Mandaluyong City, Manila, Philippine PHP 459,122 Convenience Distribution Inc. 1998.09.17 8001F. Legaspi Avenue, Maybunga, Pasig City, Manila, Philippine PHP 45,000 2000.06.15 4th Floor, Ellen Skelton Building, 3076 Sir Francis Drake Highway, Road Town, Tortola, Virgin Islands, British USD 46,538 ( ) 2003.10.15 11 1 B1103 RMB 159,795 172 2015 ANNUAL REPORT

2008.08.13 43-59 1405-1406 USD 124,552 2015.11.27 RMB 60,000 2006.10.12 6 B 701 RMB 100,000 2005.10.14 75 RMB 140,000 2007.05.28 103 1 33 A USD 23,885 ( ) 2009.02.03 45-47 RMB 440,000 2009.04.15 22 18 USD 2,000 2008.03.18 Floor 4, Willow House, Cricket Square, P.O. Box 2804, Grand Cayman KY1-1112, Cayman Islands USD 8,954 2008.12.02 103 209 E USD 8,880 1997.09.23 146-1 56 RMB 7 60,000 ( ) 2010.09.15 30 6 608 USD 4,200 ( ) 2004.12.13 7 3 RMB 100,000 ( ) 2005.06.27 8 8 100,000 ( ) 1998.10.29 727 69 2,000 ( ) 2003.07.04 37 138 16,000 2009.02.25 188 7 703A USD 3,000 ( ) 2009.11.19 131 2 203 USD 3,000 2007.03.14 P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands USD 2,991 2007.12.26 377 RMB 40,000 2006.06.30 P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands USD 700 2009.05.22 P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands USD 50 2006.05.10 7 3 10 1014 USD 15 ( ) 1997.04.16 63-1 56,300 ( ) 1998.02.11 242 1 1 193,500 ( ) 2003.08.01 242 1 2 266,700 ( ) ( ) 1. ( ) 2. ( ) 3. ( ) 4. ( ) 5. ( ) 6. ( ) 2015 ANNUAL REPORT 173

( ) % ( ) USD 138,899 100.00 ( ) USD 9,486 92.20 ( ) 40,000,000 100.00 ( ) ( ) 40,000,000 100.00 ( ) 40,000,000 100.00 ( ) 32,500,000 100.00 ( ) ( ) 32,500,000 100.00 ( ) 32,500,000 100.00 ( ) 20,000,000 100.00 ( ) ( ) 20,000,000 100.00 ( ) 20,000,000 100.00 ( ) 12,244,390 100.00 ( ) ( ) 12,244,390 100.00 ( ) 12,244,390 100.00 ( ) 10,847,421 100.00 ( ) ( ) 10,847,421 100.00 ( ) 10,847,421 100.00 ( ) 10,000,000 100.00 ( ) ( ) 10,000,000 100.00 ( ) 10,000,000 100.00 ( ) 6,511,963 100.00 ( ) ( ) 6,511,963 100.00 ( ) 6,511,963 100.00 ( ) 9,800 100.00 ( ) 9,800 100.00 ( ) 9,800 100.00 174 2015 ANNUAL REPORT

( ) 2,500,000 100.00 ( ) ( ) 2,500,000 100.00 ( ) 2,500,000 100.00 ( ) 1,500,000 100.00 ( ) ( ) 1,500,000 100.00 ( ) 1,500,000 100.00 ( ) 1,500,000 100.00 ( ) ( ) 1,500,000 100.00 ( ) 1,500,000 100.00 ( ) 10,000 100.00 ( ) ( ) 10,000 100.00 ( ) 10,000 100.00 ( ) 48,519,890 90.00 ( ) 48,519,890 90.00 ( ) ( ) 5,391,099 10.00 ( ) 1 ( ) 24,382,921 86.76 ( ) 24,382,921 86.76 ( ) 172,347 0.61 ( ) ( ) 243,898 0.87 ( ) 699,071 2.49 ( ) 1 ( ) 25,714,475 86.00 ( ) 25,714,475 86.00 ( ) 4,186,074 14.00 ( ) 1 2015 ANNUAL REPORT 175

( ) 80 80.00 ( ) 80 80.00 ( ) SATO Restaurant Systems Co., Ltd. 19 19.00 ( ) 1 1.00 ( ) 55,858,815 80.87 ( ) 55,858,815 80.87 ( ) ( ) 13,046,358 18.89 ( ) 1 ( ) 22,121,962 73.74 ( ) 22,121,962 73.74 ( ) ( ) 3,000,000 10.00 ( ) 579,091 1.93 ( ) 1 ( ) 103,496,399 70.00 ( ) 103,496,399 70.00 ( ) ( ) 29,570,400 20.00 ( ) 14,785,200 10.00 ( ) 1 ( ) 1,049,999 70.00 ( ) 1,049,999 70.00 ( ) ( ) 450,000 30.00 ( ) 1 ( ) 12,000,000 30.00 ( ) ( ) 27,999,999 70.00 ( ) 1 ( ) 6,521,090 20.00 ( ) 6,521,090 20.00 ( ) ( ) 19,563,271 60.00 ( ) 6,521,090 20.00 ( ) 1 176 2015 ANNUAL REPORT

( ) 7,874,999 58.33 ( ) 7,874,999 58.33 ( ) ( ) 1,800,000 13.33 ( ) 1 215,000 1.59 ( ) 10,199,999 51.00 ( ) 10,199,999 51.00 ( ) 9,800,000 49.00 ( ) 1 ( ) 8,669,999 51.00 ( ) 8,669,999 51.00 ( ) SAZABY LEAGUE 8,330,000 49.00 ( ) 1 100,000 0.50 ( ) 9,999,999 50.03 ( ) ( ) 200,000 1.00 ( ) 1 143,000 0.72 ( ) 6,429,999 25.00 ( ) 6,429,999 25.00 ( ) 5,144,000 20.00 3,858,000 15.00 ( ) 2,572,000 10.00 ( ) 5,144,000 20.00 ( ) 1 ( ) 2,572,000 10.00 USD 20,684 100.00 2015 ANNUAL REPORT 177

Jose T. Pardo 1 236,376,070 51.56 Jose Victor P. Paterno 236,376,070 51.56 Philippine Seven Corp. Ma. Cristina P. Paterno 8,000,045 1.75 Progressive Dev. Corp. Jorge L. Araneta 11,510,552 2.51 Antonio Jose U. Periquet, Jr. 927,007 0.20 Michael B. Zalamea 1 Jose Victor P. Paterno 11,893,510 2.59 Philippine Seven Corp. Jose Victor P. Paterno 4,500,000 100.00 Convenience Distribution Inc. Philippine Seven Corp. Liwayway T. FernandezEduardo P. Bataclan 4,500,000 100.00 Jose Victor P. Paterno USD 46,538 100.00 RMB 159,795 92.33 92.33 ( ) 7.67 92.33 USD 124,552 100.00 RMB 60,000 100.00 RMB 100,000 100.00 100.00 100.00 RMB 140,000 100.00 100.00 100.00 USD 23,885 100.00 100.00 100.00 RMB 440,000 100.00 ( ) 100.00 100.00 178 2015 ANNUAL REPORT

USD 2,000 100.00 100.00 100.00 USD 8,954 100.00 USD 8,880 100.00 100.00 100.00 ( ) RMB 60,000 45.00 55.00 ( ) 45.00 55.00 ( ) 45.00 USD 4,200 51.00 51.00 ( ) ROYAL HOLDINGS CO., LTD. 49.00 51.00 RMB 100,000 100.00 ( ) 100.00 100.00 ( ) 4,000,000 40.00 ( ) 4,000,000 40.00 ( ) ( ) 6,000,000 60.00 ( ) 200,000 100.00 ( ) ( ) 200,000 100.00 ( ) 200,000 100.00 ( ) 960,000 60.00 ( ) 960,000 60.00 ( ) 80,000 5.00 240,000 15.00 ( ) USD 3,000 100.00 2015 ANNUAL REPORT 179

USD 3,000 100.00 ( ) 100.00 100.00 ( ) USD 2,991 100.00 RMB 40,000 50.00 50.00 50.00 50.00 50.00 ( ) USD 700 100.00 ( ) USD 50 100.00 USD 15 100.00 100.00 ( ) 2,871,300 51.00 ( ) 2,871,300 51.00 ( ) 1,655,220 29.40 1,103,480 19.60 ( ) 9,481,500 49.00 ( ) 9,481,500 49.00 ( ) ( ) 4,837,500 25.00 ( ) 3,870,000 20.00 ( ) 26,670,000 100.00 ( ) ( ) 26,670,000 100.00 ( ) 26,670,000 100.00 180 2015 ANNUAL REPORT

2015 12 31 / ( ) ( ) ( ) ( ) 4,559,360 4,014,706 69,629 3,945,077 0 ( 120,210 ) ( 87,258 ) - 311,378 69,959 0 69,959 0 ( 45 ) 1,328 - ( ) 400,000 3,615,914 2,832,787 783,127 10,258,171 358,597 378,181 9.45 ( ) 325,000 1,167,708 932,333 235,375 226,477 ( 14,843 ) ( 8,408 ) ( 0.26 ) ( ) 200,000 327,223 74,048 253,175 211,672 16,953 27,227 1.36 ( ) 122,444 112,927 99,808 13,119 325,394 ( 36,180 ) ( 37,029 ) ( 3.02 ) ( ) 108,474 1,494,705 1,207,125 287,580 1,512,479 94,645 114,972 10.60 ( ) 100,000 213,447 186,458 26,989 774,706 ( 18,268 ) ( 25,830 ) ( 2.58 ) ( ) 65,120 79,351 88,662 ( 9,311 ) 216,208 ( 32,123 ) ( 30,027 ) ( 4.61 ) 26,725 146,779 95,702 51,077 326,934 ( 4,081 ) 5,001 510.28 ( ) 25,000 117,331 65,397 51,934 196,791 26,118 22,120 8.85 ( ) 15,000 330,816 346,331 ( 15,515 ) 428,986 ( 8,748 ) ( 8,110 ) ( 5.41 ) ( ) 15,000 19,389 7,449 11,940 44,655 9,842 7,373 4.92 ( ) 100 6,771 56 6,715 0 (283) 2,141 214.11 ( ) 539,110 1,739,307 1,303,761 435,546 2,889,862 2,979 16,959 0.31 ( ) 281,042 1,004,103 630,586 373,517 863,126 76,424 78,966 2.81 ( ) 299,006 850,515 472,253 378,262 1,155,690 110,709 93,727 3.13 ( ) 1 15,353 96,492 ( 81,139 ) 76,609 ( 32,563 ) ( 47,210 ) ( 472,101.77 ) ( ) 690,713 1,442,430 718,177 724,253 10,192,924 1,442 53,902 0.78 ( ) 300,000 1,506,884 739,827 767,057 3,055,131 291,137 262,829 8.76 ( ) 1,478,520 4,885,865 3,141,951 1,743,914 10,336,450 452,729 405,166 2.74 ( ) 15,000 1,683,456 1,592,885 90,571 512,166 75,896 67,126 44.75 ( ) 400,000 1,283,775 884,970 398,805 1,323,105 44,405 199,681 4.99 ( ) 326,055 4,990,619 4,317,517 673,102 2,949,406 326,444 307,387 9.43 ( ) 135,000 304,304 116,562 187,742 444,148 40,093 33,524 2.48 ( ) 200,000 561,779 259,419 302,360 947,492 132,152 112,358 5.63 ( ) 170,000 117,836 96,460 21,376 374,310 ( 21,351 ) ( 20,339 ) ( 1.20 ) ( ) 199,900 1,704,882 1,023,310 681,572 5,916,061 427,417 360,026 18.01 ( ) 257,200 9,070,244 8,653,467 416,777 2,889,614 201,056 228,878 8.90 678,952 1,565,389 0 1,565,389 0 ( 106 ) 359,201 - Philippine Seven Corp. 329,282 6,809,377 3,869,735 2,939,642 17,924,596 530,042 720,004 1.57 Convenience Distribution Inc. 32,274 291,403 137,140 154,263 638,568 71,184 49,542 11.01 1,527,610 ( 492,259 ) 0 ( 492,259 ) 0 ( 71 ) ( 240,720 ) - ( ) 798,177 341,328 876,020 ( 534,692 ) 761,042 ( 223,659 ) ( 260,640 ) - 4,088,419 2,965,523 285 2,965,238 0 ( 409 ) 209,421-299,700 299,548 0 299,548 0 ( 154 ) ( 154 ) - 499,500 365,939 237,311 128,628 647,098 ( 48,875 ) ( 44,078 ) - 699,300 77,199 73,024 4,175 374,872 ( 140,713 ) ( 169,026 ) - 784,025 232,313 154,448 77,865 355,803 ( 134,804 ) ( 146,506 ) - ( ) 2,197,800 598,006 313,174 284,832 1,321,756 ( 235,832 ) ( 238,784 ) - 65,650 295,054 91,890 203,164 471,478 135,514 102,114-293,915 39,018 29 38,989 0 ( 163) 276-2015 ANNUAL REPORT 181

( ) ( ) ( ) ( ) 291,486 48,232 9,964 38,268 80,481 87 439-299,700 1,388,166 1,028,285 359,881 4,277,097 22,308 24,383 - ( ) 137,865 8,898 0 8,898 0 ( 848 ) ( 621 ) - ( ) 499,500 74,111 5,326 68,785 78,629 95 1,374 - ( ) 100,000 676,803 554,734 122,069 1,527,306 19,748 18,197 1.82 ( ) 2,000 2,082 0 2,082 63 ( 23 ) ( 14 ) ( 0.07 ) ( ) 16,000 56,357 13,769 42,588 283,516 15,603 13,166 8.23 98,475 375,069 109,672 265,397 370,459 2,997 ( 4,702 ) - ( ) 98,475 326,692 207,866 118,826 738,713 6,254 5,878-98,180 101,995 0 101,995 0 ( 34 ) 8,079-199,800 335,424 132,492 202,932 592,776 16,431 16,226-22,978 2,330 0 2,330 0 ( 149 ) ( 149 ) - 1,641 686 0 686 0 0 ( 10 ) - 492 50 3 47 0 ( 8 ) ( 10 ) - ( ) 56,300 190,101 61,705 128,396 356,360 49,643 45,709 8.12 ( ) 193,500 1,080,787 826,300 254,487 2,361,822 22,817 56,714 2.93 ( ) 266,700 1,179,140 871,141 307,999 1,577,068 30,727 24,922 0.93 2015 2015 12 31 =14.99500 =132.82500 =16.57157 =14.23500 =11.39431 2015 =15.03321 =131.75567 =16.30923 =14.09581 =11.39999 182 2015 ANNUAL REPORT

105 3 16 2015 ANNUAL REPORT 183

15008360 104 ( 104 1 1 12 31 ) 105 3 16 184 2015 ANNUAL REPORT

104 104 104 0960042326 (88) ( ) 95577 105 3 16 2015 ANNUAL REPORT 185

% 471,996,430 45.40% ( ) 104 : ( ) ( ) $13,648,306 15% 30~40 (1,204,870) (9%) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 649,202 15% 1 30 40 1 2 1 2 186 2015 ANNUAL REPORT