I. COMPANY BACKGROUND

A. Brief History

• 1988 - Ayala Land, Inc. (ALI) was organized• July 1991 - ALI went public• September 12, 1997 - Securities and Exchange Commission approved the declassification of ALI's

common class "A" and common class "B" shares into common shares• 2011 - the Company established BellaVita Land Corp. as it forayed into social enterprise community

development targeting minimum wage earners and members of the informal business sector. Its first project in General Trias, Cavite was launched in December of the same year

B. Nature

Ayala Land, Inc. (ALI) is a Philippines-based real estate company. The Company and its subsidiaries (the Group) are incorporated to hold, develop, manage, administer, sell, convey, encumber, purchase, acquire, rent or otherwise deal in and dispose of, for itself or for others, residential including, but not limited to, all kinds of housing projects, commercial, industrial, urban or other kinds of real property; to acquire, purchase, hold, manage, develop and sell subdivision lots, with or without buildings or improvements; to erect, construct, alter, manage, operate, lease, in whole or in part, buildings and tenements of the Group or of other persons; and to engage or act as real estate broker. The Group is also involved in hotel and resort operations.

In general, ALI has organized its operations into several core businesses and support businesses. Its core businesses are composed of strategic landbank management, residential development, shopping centers, office business, and hotels and resorts. On the other end, ALI's support businesses consist of construction and property management.

C. Subsidiaries

Residential Development1. Ayala Land Premier

Ayala North Point, Ayala Greenfield Estates, One Serendra, Ayala Westgrove Heights, Abrio, Alegria Hills, Amara, Elaro, Montecito, Santierra, Park Terraces, Anvaya Cove Lots, Elaro at Nuvali, Santierra Nuvali, Montecito Nuvali, Sea Breeze Verandas, The Residences at Greenbelt, The Suites at One Bonifacio High Street, Garden Towers, Park Point Residences

2. Alveo LandTwo Serendra, Kasa Luntian, High Street South Block, High Street South: One and Two Maridien, Escala, Kroma Tower, Senta, Solinea, The Columns Legazpi Village, The Lerato, Marquee Place, Marquee Residences, Celadon Residences, Celadon Park, Verdana Homes Mamplasan, Verdana Homes Asyana, Abreeza Residences, Ametta Place, Ferndale Villas, Mirala Nuvali, Treveia Nuvali, Venare Nuvali, Verve Residences

3. Avida LandSt. Alexandra Estates, St. Gabriel Heights, Avida Residences San Isidro, Avida Residences Sta. Monica, Avida Residences The Yards of Sta. Monica, Hacienda Sta. Monica, San Antonio

Heights, San Rafael Estates, Avida CityFlex Towers BGC, Avida Towers 34th Street, Avida Towers BGC 9th Avenue, Avida Residences Sta. Arcadia, Avida Settings Cabanatuan, Centrio Tower, Avida Residences Dasmariñas, Avida Residences Santa Catalina, Avida Settings Cavite, Avida Village Santa Cecilia, Avida Towers Cebu, Avida Village Iloilo, Avida Tower Iloilo, Avida Village North Point Bacolod, Avida Parkway Settings NUVALI, Avida Settings NUVALI, Avida Village Cerise NUVALI, Ridgeview Estates NUVALI, Santa Rosa Estates, Avida Towers Makati West, Avida Towers San Lorenzo, Avida Towers Centera, Avida Towers Intima, Avida Towers San Lazaro, Avida Towers Alabang, San Alfonso Homes, San Francisco Village, San Ignacio Estates, Avida Village North Point, Avida Residences San Fernando, Avida Towers Sucat, Avida Towers Prime Taft, San Juan Estates, Santa Barbara Homes, Santa Isabel Village, Avida Towers New Manila, Regio de Dios Village, St. Joseph Homes, St. Jude Village Makati, Rancho Imperial,Madera Grove Estates Malolos.

4. Amaia LandAmaia Steps Pasig, Amaia Steps Sucat, Amaia Scapes Cabanatuan, Amaia Scapes Cavite, Amaia Scapes Laguna, Amaia Scapes Lipa, Amaia Amaia Scapes North Point, Amaia Steps Nova, Amaia Skies Cubao, Amaia Skies Sta. Mesa - South Tower, Amaia Skied Avenida - North Tower

5. BellaVitaBellaVita Gen. Trias

6. Other Projects & Community CentersBarangay Ayala Alabang, Forbes Park, Makati City, Dasmariñas Village, Bel-Air Village, San Lorenzo Village, Urdaneta Village, San Antonio Village, Magallanes Village, Woodside New Manila, Ayala Heights, Ayala Hillside Estates, Tamarind Cove, Paseo de Magallanes, Ferndale Homes, One Legazpi Park, The Pineridge Baguio, One Roxas Triangle, One Salcedo Place, Two Salcedo Place, Three Salcedo Place, Asia Tower, Montgomery Place, San Antonio Plaza Arcade, Ayala Southvale Sonera, Nuvali Lakeside Evozone, Gilmore Townhomes

Commercial & Business Centers1. Ayala Malls

Glorietta, Greenbelt, Park Square, Market! Market!, TriNoMa, Bonifacio High Street, Alabang Town Center, Marquee Mall, Abreeza, Harbor Point, The Landmark, Fairview Terraces, Pavilion Mall, Centrio, Metro Point, The District

2. Commercial LeasingBaguio BPO, Iloilo-AyalaLand TechnoHub, BGC East Block, Ayala North Point TechnoHub, One and Two Evotech, Peak A, E-Bloc Retail, Avida Town Center - Cabanatuan, Pavillion Mall, Solenad, TRAG Retail, Ayala Triangle, Makati Stock Exchange Building, 6750 Ayala Avenue, Ayala Life – FGU Center Makati and Alabang, PeopleSupport Center BPO Office Building and Retail, Convergys BPO Office Building and Retail, InfoNXX Building, Madrigal Business Park, Laguna Technopark, Vertex One Manila, BGC Taguig, HSBC Building Taguig (managed only)

3. Strategic Landbank ManagementMakati Central Business District, McKinley Business Park, E-Square, Bonifacio Ridge

Visayas-Mindanao Operations1. Cebu Holdings, Inc.

1016 Residences, Amara, Cebu IT Park, Ayala Center Cebu, Avida Towers Cebu, Ayala Life - FGU Center, Cebu Business Park, Cebu Holdings Center, City Sports Club Cebu, Garden Ridge Village, Park Tower One, Park Tower Two, Sedona Parc, Ayala North Point Business Center,The Walk, Cebu, E-Bloc

Construction & Property Management

1. Makati Development Corporation2. Fort Bonifacio Development Corporation3. Ayala Property Management Corporation

Hotels & Leisure

1. Ayala Land Hotels & Resorts, Corp.2. InterContinental Manila3. Holiday Inn & Suites Makati4. Cebu Marriott5. El Nido Resorts6. Seda Hotels7. Anvaya Cove8. Pangalusian Island Resort9. Makati Sports Club10. Alabang Country Club

D. DetailsSector Property

Subsector Property

Incorporation Date June 30 1988

Corporate Life 50

No. of Directors 9

Stockholders Meeting as per by laws

April – any day

Fiscal Year 01 January to 31 December

External Auditor SyCip, Gorres, Velayo & Company 

Stock Transfer Agent Bank of the Philippine Islands Stock Transfer Agency

Board Of Directors:

Fernando Zobel de Ayala - ChairmanAntonino T. AquinoDelfin L. LazaroAurelio R. Montinola II Mercedita S. Nolledo Francis G. Estrada - Independent Director Jaime C. Laya - Independent Director Oscar S. Reyes - Independent Director

II. FINANCIAL HIGHLIGHTS

INCOME STATEMENT

2012 2011 2010 2009 2008

Revenues 54,524,815 44,205,533 37,813,499 30,455,244 33,748,983

Earnings Before

Interest & Taxes (EBIT)

15,446,352 13,019,030 9,986,425 8,661,894 9,173,835

Net Income (attributable

to equity holders of

ALI)

9,038,328 7,140,308 5,458,134 4,039,256

4,812,348

BALANCE SHEET

2012 2011 2010 2009 2008

Cash and Cash Equivalents

29,326,617 24,795,200 19,857,152 16,449,217 15,443,045

Total Assets 231,232,383 154,619,179 122,301,910 107,741,848 100,588,883

Total Borrowings

69,450,451 34,530,771 20,970,933 18,812,165 16,751,530

Stockholders' Equity

82,315,209 62,356,966 56,857,152 52,392,361 49,027,640

FINANCIAL RATIOS

2012 2011 2010 2009 2008

Current Ratio 1.40:1 1.65:1 1.67:1 1.95:1 1.89:1

Debt-to-Equity Ratio

0.84:1 0.55:1 0.37:1 0.36:1 0.34:1

Net Debt-to-Equity Ratio

0.49:1 0.16:1 0.02:1 0.06:1 0.03:1

Return on Equity*

13% 12% 10% 8% 10%

Return on Assets*

4.0% 4.9% 4.8% 3.9% 5.2%

STOCKSDATE OPEN HIGH LOW CLOSE AVERAGE VOLUME VALUE

Sep 23, 2013

28.90 29.10 28.30 29.00 28.89 8,956,700 258,784,600.00

Sep 20, 2013

29.25 29.50 28.50 28.50 29.11 11,475,600 334,016,405

Sep 19, 2013

29.10 29.90 29.10 29.45 29.54 25,295,900 747,203,545

Sep 18, 2013

28.30 28.30 27.80 28.10 28.00 53,406,900 1,495,471,315

Sep 17, 2013

27.80 28.25 27.70 28.25 27.92 42,186,600 1,177,668,465

Sep 16, 2013

26.40 27.65 26.00 27.65 27.33 12,324,000 336,860,105

Sep 13, 2013

26.50 26.65 25.95 26.65 26.49 8,429,500 223,307,620

Submitted To:Prof. Lilia Amoncio

Submitted By: Reyes, Gian Pius C.AFM0613