Mr. Jose Valeriano B. Zuño III OIC-Head, Disclosure Department

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16 January 2017 Philippine Stock Exchange 3/F, The Philippine Stock Exchange, Inc. Tower One and Exchange Plaza, Ayala Ave., Makati City Attention: Mr. Jose Valeriano B.

1 16 January 2017 Philippine Stock Exchange 3/F, The Philippine Stock Exchange, Inc. Tower One and Exchange Plaza, Ayala Ave., Makati City Attention: Mr. Jose Valeriano B. Zuño III OIC-Head, Disclosure Department Philippine Dealing & Exchange Corporation 6766 Ayala Avenue corner Paseo de Roxas, Makati City Attention: Ms. Vina Vanessa S. Salonga Head, Issuer Compliance and Disclosure Department Subject: Report on the Top 100 Shareholders Gentlemen: This is in connection with your Revised Disclosure Rules requiring Cebu Holdings, Inc. to submit a report on the Top 100 Shareholders of the Company. In compliance therewith, we are submitting herewith the list of Top 100 Shareholders of the Company for the Quarter-Ending 31 December Thank you. Very truly yours, Michelle Marie T. Valbuena Senior Compliance Manager Office of the Corporate Secretary

2 Stock Transfer Service Inc. CEBU HOLDINGS, INC. List of Top 100 Stockholders As of 12/31/2016 Rank Sth. No. Name Citizenship Holdings Rank AYALA LAND, INC. Filipino 1,283,969, % PCD NOMINEE CORP. (NON-FILIPINO) Foreign 359,103, % PCD NOMINEE CORP. (FILIPINO) Filipino 218,191, % MAKATI SUPERMARKET CORPORATION Filipino 3,013, % LAGUNA PROPERTIES HOLDINGS, INC. Filipino 1,875, % ALFONSO LAO Filipino 1,750, % JOSE C. LEE Filipino 1,000, % AURORA E. PANLILIO Filipino 937, % VICENTE JAYME JR. Filipino 767, % FERMIN P. ANGCAO Filipino 670, % VICTOR G. SY Filipino 625, % JOSE E. SUAREZ Filipino 618, % MAXIMINO S. UY Filipino 470, % ALEJANDRA R. MALAYA Filipino 385, % ALBERTO MENDOZA &/OR JEANIE C. MENDOZA Filipino 376, % SALVADOR MARIPOSA Filipino 375, % MERCEDES A. TUASON Filipino 375, % CAROLYN CHUA Filipino 375, % VINCENT Y. TAN Filipino 375, % ROBERT TAN Filipino 358, % EDAN CORPORATION Filipino 347, % PHILIPPINE INTERNATIONAL LIFE INSURANCE CO., INC. Filipino 344, % PAN MALAYAN MANAGEMENT AND INVESTMENT CORP. Filipino 337, % JUAN G. YU &/OR JOHN PETER C. YU Filipino 333, % MARINA S. MAGALLANES OR SOFIA MONICA S. MAGALLANES Filipino 320, % ANTHONY SAMUEL LEE Filipino 312, % PACIFIC PLAN, INC. Filipino 300, % WEALTH SECURITIES, INC. Filipino 295, % ALBERTO MENDOZA &/OR LAWRENCE MENDOZA Filipino 281, % ROSA C. SY &/OR MARY C. SY Filipino 280, %

3 EBC SECURITIES CORPORATION Filipino 271, % G & L SECURITIES COMPANY, INC. Filipino 262, % WILLIAM Q. KWONG Filipino 250, % CHOA EK YONG Filipino 212, % ERNESTO CHUAKAW Filipino 210, % VICENTE R. AYLLON Filipino 206, % EASTERN SECURITIES DEV'T. CORP. Filipino 204, % 38 00S SULFICIO O. TAGUD JR. Filipino 197, % VICTOR J. DEL ROSARIO Filipino 196, % EMERITO CALDERON Filipino 193, % ALICE CHEN CUA Filipino 187, % LAM CHING CHOR Filipino 187, % BAYANI M. ALONTE Filipino 187, % 44 00SS CAESAR S. SYLIANTENG Filipino 182, % ENRIQUE ARCENAS &/OR VICTOR ARCENAS Filipino 167, % ENRIQUE DY Filipino 157, % ANGELITA M. RAMOS Filipino 150, % 48 00SS BENJAMIN S. JALANDONI Filipino 146, % 49 00S JOSE O. SOBERANO Filipino 145, % CONRADO CONSTANTINO V. DE JESUS Filipino 140, % PHIL. REMNANTS CO., INC. Filipino 135, % RAMON F. VILLAVICENCIO Filipino 131, % ATTY. EDMUND Y. RUARO Filipino 131, % ATTY. FRANCISCO S. PANGILINAN Filipino 125, % JUNE UY GO Filipino 125, % TOMMY ONG Filipino 125, % NOLI B. BAJADA Filipino 120, % 58 00SS EBC SECURITIES CORPORATION Filipino 117, % EMILIO J. TUMBOCON Filipino 112, % ALICIA LIM &/OR JOY LIM &/OR RICHARD T. LIM Filipino 112, % INTSIA HOLDINGS, INC. Filipino 112, % ARTURO A. GUANZON Filipino 111, % 63 00SS PILAR G. VAZQUEZ Filipino 109, %

4 64 00SS VICENTE JAYME JR. Filipino 109, % CONNELL SECURITIES, INC. Filipino 109, % STEPHANIE Y. CHENG &/OR VICENTE Y. CHENG Filipino 106, % LUIS S. TANJANGCO Filipino 101, % EDWIN LIM Filipino 101, % JENNIFER C. LIM &/OR JEFFREY C. LIM Filipino 100, % MAXIMINO S. UY &/OR HUE HUA LIM Filipino 100, % VERGEL A. AGUILAR Filipino 94, % VIOLETA C. DRILON &/OR FRANKLIN M. DRILON Filipino 93, % RICARDO S. GO Filipino 93, % AGAPITO J. TIANGCO Filipino 93, % GERRY C. TOLENTINO Filipino 93, % YANG HUA HUANG Chinese 93, % CHOA THIAN Filipino 93, % SMS DEVELOPMENT CORPORATION Filipino 93, % LIM TAY Filipino 93, % ROSARIO FRANCISCO Filipino 93, % MARGARITO B. TEVES Filipino 93, % ATHENA TIU OR DISNEY TIU Filipino 93, % MRS. JOYCE TAN &/OR MR. DAVY TAN Filipino 93, % JEROME V. PARAS Filipino 93, % ALLLEN SALAS QUIMPO Filipino 93, % E. ZOBEL, INC. Filipino 93, % JOSE CASTELLANO Filipino 93, % VIOLETA C. DRILON Filipino 93, % LUIS D. BELTRAN Filipino 93, % RAMON V. MITRA Filipino 93, % LEOVIE G. TAN Filipino 93, % A. TIMOTHY PETERSON American 93, % TUANHIN &/OR FRANCISCO CHIONG Filipino 87, % HELEN HUANG Filipino 87, % TAN SHIN TIU &/OR SUSANA TAN Filipino 87, % LEONARDO ANG BENG KEE Filipino 86, %

5 BENJAMIN CO CA & CO., INC. Filipino 85, % VICENTE GOQUIOLAY & CO., INC. Filipino 80, % JUAN YU &/OR JOHN PHILIP YU Filipino 80, % MARIVIC G. DAVID Filipino 78, % Total Top 100 Shareholders : 1,887,652, % =============== ======= Total Outstanding Shares 1,920,073,623 ===============

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This is in connection with your Revised Disclosure Rules requiring Cebu Holdings, Inc. to submit a report on the Top 100 Shareholders of the Company.

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