SECURITIES AND EXCHANGE COMMISSION

SEC FORM 17-C

CURRENT REPORT UNDER SECTION 17

OF THE SECURITIES REGULATIONS CODE (SRC)
AND SRC RULE 17.1

1. February 21, 2023

Date of Report (Date of earliest event reported)

2. 152747 3. 000-153-790-000
SEC Identification Number BIR Tax Identification Number

4. AYALA LAND, INC.

Exact Name of registrant as specified in its charter

5. MAKATI CITY, PHILIPPINES 6. (SEC Use Only)

Province, country or other jurisdiction of Industry Classification Code
incorporation

7. 31F Tower One and Exchange Plaza, Ayala Triangle, 1226

Ayala Avenue, Makati City
Address of principal office Postal code

8. (632) 7908-3111
Registrant’s telephone number, including area code

9. Not Applicable
Former name or former address, if changed since last report

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class Number of Shares of Amount of Debt Outstanding

(As of January 18, 2023) Stock Outstanding (Registered)
Common 15,063,408,731
Voting Preferred* 12,442,524,223 P87,250,000,000.00

Indicate the item numbers reported herein : Item 9. Other Events

Re: FY 2022 Results Press Release

Ayala Land, Inc. (ALI) bounced back strongly in 2022 on the strength of the Philippines' reopened economy
since the 2020 pandemic. Its diversified real-estate portfolio generated a net income of P18.6 billion, 52% higher,
while consolidated revenues grew to P126.2 billion, 19% more year-on-year.

AYALA LAND, INC.

Registrant

Date: February 21, 2023 MICHAEL ANTHONY L GARCIA

Head, Investor Communications and Compliance,

*Unregistered
21 February 2023

Philippine Stock Exchange, Inc.

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

To Alexandra D. Tom Wong

Officer-in-Charge, Disclosure Department

Philippine Dealing and Exchange Corporation

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

To Atty. Marie Rose M. Magallen-Lirio

Head, Issuer Compliance and Disclosures Department

Securities and Exchange Commission

17/F SEC Headquarters, 7907 Makati Avenue,
Barangay Bel-Air, Makati City

To Hon. Vicente Graciano P. Felizmenio, Jr.

Director, Market Regulation Department

Dear Mesdames and Gentlemen,

Please see the attached press release on Ayala Land's FY 2022 financial and operating results.

AUGUSTO D. BENGZON
Senior Vice-President
CFO and Treasurer
Press Release

ALI FY22 net income up 52% to P18.6B

21 February 2023 – Ayala Land, Inc. (ALI) bounced back strongly in 2022 on the strength of the Philippines'
reopened economy since the 2020 pandemic. Its diversified real-estate portfolio generated a net income of
P18.6 billion, 52% higher, while consolidated revenues grew to P126.2 billion, 19% more year-on-year.

With resilient demand amidst a higher interest-rate environment, the company registered P104.9 billion in
reservation sales, 14% better than the previous year. Fourth-quarter sales totaled P27.6 billion, 24% more
year-on-year. Sales from local Filipinos comprised 66% of the total, complemented by overseas Filipinos
and other nationalities, with a 22% and 13% share, respectively. Sales from overseas Filipinos and other
nationalities surged by 59% and 39%, respectively. The projects that received the most demand were
Ayalaland Premier's Ciela at Aera Heights in Carmona, Cavite, Avida's Serin East Tower 4 in Tagaytay City,
and Patio Madrigal in Pasay City, Amaia's Skies Cubao Tower 3 in Quezon City, and Alveo's Astela Towers
in Circuit Makati. ALI launched ten residential developments worth P31.8 billion in the fourth quarter,
bringing the consolidated value to P91.4 billion totaling 30 projects by yearend.

Property development revenues reached P81.2 billion, a 7% growth from 2021. Commercial lot sales led the
segment's advance as revenues surged by 75% to P14.5 billion on investor demand at Arca South, Nuvali,
and Broadfield estates. The steady construction progress of residential projects resulted in revenues of P63.5
billion, a slight dip from the previous year due to stretched downpayments. Meanwhile, office-for-sale
revenues declined by 16% to P3.2 billion due to the completion of Alveo's Park Triangle Tower at BGC and
the moderate take-up on remaining limited inventory.

In commercial leasing, revenues accelerated by 62% year-on-year to P33.4 billion with normalized mall rents
and foot traffic, the contribution of new office spaces, and higher hotel room rates. With the resurgence in
foot traffic and mobility, shopping centers and hotel revenues doubled to P16.1 billion and P6.2 billion,
respectively. Revenues from office leasing grew by 13% to P11.1 billion with the added contribution from
One Ayala East and West Towers.

"We are encouraged by our solid performance in 2022, driven by the full reopening of the Philippine
economy and the support of our customers. All major business lines achieved meaningful recovery, a
testament to our employees' hard work and dedication," said ALI President and CEO Bernard Vincent O.
Dy. "Despite ongoing challenges in the operating environment, we remain positive in our outlook for 2023,
and look forward to introducing new offerings that will meet the evolving needs of the market. Our focus
on customer satisfaction, operational excellence, and innovation will continue to guide our efforts as we
pursue sustained growth," he added.

ALI launched two new estates in 2022: Areza at Lipa City, Batangas, and Crossroads at Plaridel, Bulacan.
Areza, a 92-hectare development, is ALI's first master-planned, mixed-use estate in Batangas. It will have a
mix of residential and commercial uses and complementary facilities such as a food terminal, a public
market, and retail areas. The estate's first locator is the new Lipa City Hall which broke ground in July 2022.
Meanwhile, Crossroads is an 83-hectare integrated mixed-use master-planned estate with residential and
commercial components in the rising enterprise zone on the eastern side of Bulacan.

The company also made significant progress in its community development and environmental
sustainability initiatives. Its Alagang AyalaLand program has aided over 1,000 social enterprises and
benefitted 9,700 families by providing rent-free spaces in its malls to offer ecological and socially sustainable
products.

Ayala Land's commercial properties have neutralized their scopes 1 and 2 emissions with approximately
90% of its mall and office gross leasable area using renewable energy. By shifting to renewables, the
company reduced its emissions by more than 150,000 tons of CO2 in 2022. The company has replanted
more than 216,000 native trees and revegetated 445 hectares through assisted natural regeneration of its
586-hectare carbon forest since the program started in 2017. An estimated 95,000 tons of CO2 equivalent
are stored within these carbon forests. On top of this, its malls in Metro Manila segregate, measure, and
collect clean and dry plastics. About 232 tonnes of clean and dry plastics have been collected from its malls,
offices, and estates since 2019. These were used as part of MDC's ready-mix concrete and eco products for
sidewalks, perimeter fences, and plastic pallets for AyalaLand Logistics Holdings Corp.

Ayala Land is the first Philippine real estate company to complete a scope 1,2 and 3 emissions inventory.
The company has a leadership A- rating on climate change and has the highest rating of B- on water security
management for a Philippine company from the CDP (Carbon Disclosure Project). Ayala Land ranked in the
top three in the Philippines and the top 20 in the ASEAN based on the 2021 ASEAN Corporate Governance
Scorecard.

Capital expenditures reached P72.4 billion, wherein 50% was spent on residential projects, 19% on land
acquisition, 16% on estate development, 11% on commercial projects, and 4% for other purposes. ALI has
a well-managed debt portfolio, with 97% contracted into long-term tenors, 90% locked in fixed rates and an
average maturity of 5.3 years. The net gearing ratio stands at 0.76:1, ensuring that the company maintains
the highest investment-grade rating in the domestic debt market.

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This document contains forward-looking statements and forward-looking financial information that are, by their nature, subject to
significant risks and uncertainties. Such forward-looking statements and financial information are based on numerous assumptions
regarding present and future business strategies. Important factors can cause some assumptions not to occur or cause actual results,
performance, or achievements to differ materially from those in the forward-looking statements. The company gives no assurance that
such opinions or beliefs will prove correct or that such intentions will remain the same.

ABOUT AYALA LAND, INC.

Ayala Land Inc. is the largest property developer in the Philippines, with more than 12 thousand hectares of land bank and a solid track
record in developing large-scale, integrated, mixed-use, and sustainable estates. With 47 estates across the country, Ayala Land hosts
its diversified portfolio of complementary businesses: development of residential, office, commercial, and industrial properties for sale;
commercial leasing through shopping centers, offices, hotels, resorts, factory buildings, warehouses, co-living, and co-working spaces;
services such as construction, property management, retail energy supply, and airlines; and strategic property-related investments.