2019 2018 2017

ASSETS
Current Assents
Cash and Cash Equivalents 8.67 4.86 5.03
Financial Assets at Fair Value 0.22 0.31 0.10
Investments in Debts Instruments 0.03 0.01 0.06
Trade and other Receivables - net 1.31 11.87 11.29
Inventories 18.29 17.83 16.75
Other current Assets 6.95 10.35 9.82

Total Current Assets 45.46 45.24 43.04

Noncurrent Assets
Investments in debt Instruments 0.08 0.09 0.10
Property, plant and Equipment 42.53 45.79 52.27
Investment Property-net 7.58 4.62 0.02
Deferred tax asset-net 0.07 0.07 0.06
Goodwill-net 2.11 2.38 2.45
Other noncurrent asset-net 0.78 1.81 1.76

Total Noncurrent Assets 54.54 54.76 56.96

TOTAL ASSETS 100 100 100

LIABILITIES AND EQUITY

Current Liabilities
Short Term Loans 18 23.17 20.58
Liabilities for crude oil and petroleum Products 9.97 7.26 10.92
Trade and other Payables 7.28 7.95 3.43
Derivative Liabilities 0.19 0.17 0.53
Income Tax Payable 0.07 0.04 0.24
Current Portion of Long-term debt-net 4.28 4.97 1.12
Total current Liabilities 40.11 43.56 36.83

Noncurrent Liabilities
Long-term debt-net of current portion 29.43 27.98 28.97
Retirement benefits liability 0.90 0.68 1.45
Deferred tax Liabilities-net 1.61 2.36 2.19
Asset retirement obligation 0.44 1 0.79
Other noncurrent Liabilities 0.44 0.36 0.31
Total Noncurrent Liabilities 36.49 32.37 33.70
Total Liabilities 76.59 75.94 70.53

Equity Attributable to Equity Holders of the Parent Company

Capital Stock 2.40 2.65 2.81
Additional Paid-in Capital 9.50 5.49 5.81
Capital Securities 6.38 6.95 9.04
Retained Earnings 11.53 13.82 14.54
Equity Reserves (4.28) (3.92) (1.53)
Treasury stock (3.83) (2.79) (2.96)
Total Equity Attributable to Equity Holders of the Parent Company 22.20 22.19 27.71
Non-controlling Interests 1.72 1.87 1.76
Total Equity 23.41 24.06 29.47

TOTAL LIABILTIES AND EQUITY 100 100 100

PETRON CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

December 31

PETRON CORPORATION AND SUBSIDIARIES

 CONSOLIDATED STATEMENT OF INCOME
FOR THE YEARS ENDED DECEMBER 31,2019,2018 AND 2017

2019 2018 2017

Sales 100 100 100
Cost of Goods Sold 94.07 93.80 90.19
Gross Profit 5.93 6.20 9.81
Selling and Administrative Expenses (3.07) (2.80) (3.46)
Other Operating Income 0.29 0.24 0.27
Interest Expense and other Financing Charges 2.62 (1.73) (1.95)
Interest Income 0.26 0.13 0.12
Share in Net Income of an Associate - - 0.01
Other Income (Expenses)-Net 0.06 0.09 (0.21)
5.20 (4.32) 5.48
Income before tax 0.73 1.87 4.34
Income tax Expense 0.28 0.61 1.09
Net Income 0.45 1.26 3.24

V. APPENDICES:
PETRON CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Amounts in Million Pesos) As
of December 31
 PETRON CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEARS ENDED DECEMBER 31,2019,2018 AND 2017
(Amounts in Million Pesos, Except Per Share Data

2019 2019 2018

2018 2017
2017
ASSETS
Sales Current Assents 514,362 557,386 434,624
Cash and Cash Equivalents 34,218 17,405 17,014
Financial
Cost of Goods SoldAssets at Fair Value 483,855 864 1,126
522,824 336
391,969
Investments in Debts Instruments 109 40 199
Trade and other Receivables - net
Gross Profit 44,657
30,507 42,497
34,562 38,159
42,655
Inventories 72,210 63,873 56,604
Other
Selling and current Assets
Administrative Expenses 27,430
(15,815) 37,081
(16,981) 33,178
(16,197)
Total Current Assets
179,488 162,022 145,490
Other Operating Income 1,507 1,340 1,180
Noncurrent Assets
Interest Expense and other Financing Charges (13,490) (9,689) (8,847)
Investments in debt Instruments 311 338 332
Property, plant and Equipment 167,941 163,984 177,690
Interest Income 1,340 706 535
Investment Property-net 5,509 16,536 75
Deferred tax asset-net 29,935 257 207
Share in Net Income of an Associate - - 63
Goodwill-net 262 8,532 8,277
Other noncurrent asset-net 8,319 6,485 5,959
Other Income (Expenses)-Net (312) 517 (907)
Total Noncurrent Assets
215,347 196,132 192,540
(26,770) (24,107) (23,813)
TOTAL ASSETS 394,835 358,154 338,030
Income before tax 3,737 10,455 18,842
LIABILITIES AND EQUITY
Income tax Expense 1,434 3,386 4,755
Current Liabilities
Net Income
Short Term Loans
2,303
71,090
7,069
82,997 69,583
14,087
Liabilities for crude oil and petroleum Products 39,362 25,991 36,920
Trade and other Payables 28,741 28,471 11,604
Lease Liabilities-current portion 1,295
Derivative Liabilities 738 614 1,791
Income Tax Payable 267 146 808
Current Portion of Long-term debt-net 16,881 17,799 3,789
Total current Liabilities 158,374 156,018 124,495

Noncurrent Liabilities
Long-term debt-net of current portion 116,196 100,201 97,916
Retirement benefits liability 3,565 2,433 4,885
Deferred tax Liabilities-net 6,348 8,450 7,397
Lease Liabilities-net of current portion 14,454
Asset retirement obligation 1,720 3,592 2,681
Other noncurrent Liabilities 1,748 1,274 1,037
Total Noncurrent Liabilities 144,031 115,950 113,926
Total Liabilities 302,405 271,968 238,421
Equity Attributable to Equity Holders of the
Parent Company
Capital Stock 9,485 9,485 9,485
Additional Paid-in Capital 37,500 19,653 19,653
Capital Securities 25,183 24,881 30,546
Retained Earnings 45,510 49,491 49,142
Equity Reserves (16,899) (14,031) (5,171
Treasury stock (15,122) (10,000) (10,000)
Total Equity Attributable to Equity Holders of the
Parent Company 85,675 49,479 93,655
Non-controlling Interests 6,773 6,707 5,964
Total Equity 92,430 86,186 99,619

TOTAL LIABILTIES AND EQUITY 394,835 358,154 338,030