33F Tower One, Ayala Triangle, Ayala Avenue

Makati City, 1226 Philippines

www.ayala.com.ph

28 May 2021

Securities and Exchange Commission

Secretariat Building, PICC Complex
Roxas Boulevard, Pasay City 1307

Attention: Director Vicente Graciano P. Felizmenio, Jr.

Director, Markets & Securities Regulation Department

Philippine Stock Exchange, Inc.

6/F, PSE Tower, 5th Avenue corner 28th Street,
Bonifacio Global City, Taguig City

Attention: Ms. Janet A. Encarnacion

Head, Disclosure Department

Philippine Dealing and Exchange Corporation

29th Floor, BDO Equitable Tower
8751 Paseo de Roxas, Makati City 1226

Attention: Atty. Marie Rose M. Magallen-Lirio

Head, Issuer Compliance and Disclosure Department

Re: Notice of Completion of Offer

Gentlemen:

In connection with Ayala Corporation’s (the “Company”) offer of ₱6,000,000,000.00 fixed rate Bonds with an
oversubscription option of up to ₱4,000,000,000.00 (the “Offer”), consisting of 3.0260% Series A Bonds due
2024 (“Series A Bonds”) and 3.7874% Series B Bonds due 2026 (“Series B Bonds”, together with the Series A
Bonds, the “Bonds”) under its ₱30,000,000,000.00 Debts Securities Program under a Shelf Registration, we
confirm that:

1. The Bonds were offered in accordance with the Certificate of Permit to Sell issued by the Commission
on 12 May 2021.

2. The results of the Offer, based on the aggregate principal amounts, are as follows:

Type of Investor Series A Bonds Series B Bonds

Individuals 1,631,980,000 2,659,440,000
Corporate/Institutions 2,368,020,000 3,340,560,000
TOTAL: ₱4,000,000,000 ₱6,000,000,000

This Notice of Completion of Offer is submitted pursuant to Section 8.1.1.6 of the 2015 Implementing Rules and
Regulations of the Securities Regulation Code and in compliance with the Commission’s pre-effective letter dated
May 11, 2021.
Thank you.

Very truly yours,

Ayala Corporation
By:

Alberto M. de Larrazabal Estelito C. Biacora

Chief Finance Officer and Treasurer and Attorney-in-Fact
Attorney-in-Fact