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AMENDED ARTICLES OF COOPERATION

OF PLDT EMPLOYEES CREDIT COOPERATIVE (PECCI)

KNOWN ALL MEN BY THESE PRESENTS: We, the undersigned Filipino citizens, all of legal age and residents of the Philippines, have on this day voluntarily agreed to organize and form a primary multi-purpose cooperative under Republic Act No. 9520, also known as “The Philippine Cooperative Code of 2008”. (Amended on 27 June 2009 and March 28, 2015) AND WE HEREBY CERTIFY:

ARTICLE I Name of the Cooperative

That the name of this Cooperative shall be PLDT EMPLOYEES CREDIT COOPERATIVE (also known as PECCI)

(Amended on 27 June 2009 and 14 May 2011. ARTICLE II Objectives

That the objectives for which this Cooperative is formed are:

Primary 1. To engage in the operation of a multi-purpose cooperative covering credit or financial and consumer services;

(Amended on 27 June 2009 and March 28, 2015) 2. To encourage and promote thrift and the habit of saving among its members;

3. To generate a common pool of funds in order to provide loans or credit facilities to its members for productive

and provident purposes; (Amended on 27 June 2009)

4. To make credit facilities available to the members at a reasonable rate of interest;

5. To educate the members in the wise use of money and to emphasize the importance of punctuality in meeting obligations.

6. To advance the cooperative movement as a technique for improving the economic status of the people, having

service for its motive;

7. To cooperate with the government of the Philippines, together with all its instrumentalities in the execution of government policies which will redound to the benefit of the general public.

Secondary In addition to the objectives and purposes provided for under Republic Act No. 9520, also known as “The Philippine Cooperative Code of 2008, which are hereby made an integral part of this Articles of Cooperation, this Cooperative adopts the following secondary objectives:

8. To actively support the government and other concerned organizations, both local and foreign, in promoting cooperatives as a practical means towards sustainable socio-economic development under a truly just and democratic society; (Amended on 27 June 2009)

9. To develop the knowledge of the members on the principles and practices of cooperatives to enable them to

actively and competently participate in managing the affairs of the Cooperative; (Amended on 27 June 2009)

10. To institutionalize a dynamic savings mobilization and capital build-up schemes to sustain its development activities and long-term investments, thereby ensuring optimum economic benefits to the members, their families and the general public; (Amended on 27 June 2009)

11. To implement policy guidelines that will ensure transparency, equitable access to its resources and services, and

promote the interests of the members; and (Amended on 27 June 2009)

12. To adopt such other plans as may help foster the welfare of the members, their families and the community. (Amended on 27 June 2009)

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ARTICLE III

Powers and Capacities

In furtherance of and not in limitation to the powers and capacities conferred by Republic Act No. 9520, also known as “The Philippine Cooperative Code of 2008, this Cooperative shall have the following juridical powers and capacities:

1. To draw, make, accept, endorse, guarantee, execute and issue promissory notes, bills of exchange, debentures,

bonds, drafts, warrants, certificates and all other kinds of obligations and instruments in connection with its lawful business operations; (Amended on 27 June 2009)

2. To enter into joint ventures with local or foreign entities in order to achieve its goals and economic plans and

programs; (Amended on 27 June 2009)

3. To purchase, own, lease, occupy, use, receive, take, grant, hold, convey, sell, lease, pledge, mortgage, or contract indebtedness and, otherwise, to deal with such real and personal properties as the transaction of its lawful affairs may reasonably and necessarily require, subject to the limitations prescribed by law and the Constitution of the Philippines; (Amended on 27 June 2009)

4. To conduct publicity or research work for the promotion of the cooperative movement and for this purpose, may issue

from time to time suitable publications or literature on cooperatives; 5. To associate with other credit cooperatives or credit unions for purposes of mutual help, assistance and protection;

6. To exercise such other powers as may be essential and necessary to carry out its objectives in accordance with law.

(Amended on 27 June 2009)

ARTICLE IV Area of Operation

That this Cooperative shall operate within PLDT Company and its subsidiaries and affiliates where they operate and

maintain their offices, installations and business operations and its principal office shall be located at the 4th

Floor, Universal-Re Building, Paseo de Roxas corner Perea Streets, Makati City, Metro Manila, Philippines. (Amended on 27 June 2009)

ARTICLE V Term of Existence

That the term for which this Cooperative shall exist is fifty (50) years from the date of its registration with the Cooperative Development Authority.

ARTICLE VI Common Bond of Membership

That the common bond of membership of this Cooperative is institutional and shall be open to all natural persons who are Filipino citizens, at least 18 years old, with capacity to contract and possess all the qualifications and none of the disqualifications provided for in the By-Laws and are regular and active employees of the Philippine Long Distance Telephone Company (PLDT Company) and its subsidiaries and affiliates including the legal dependents of a regular member of the Cooperative as defined in Article II Sections 2(a) of the By-Laws. (Amended on 27 June 2009)

ARTICLE VII Name, Citizenship and Address of Cooperators

That the name, citizenship and address of the cooperators are as follows:

Name Citizenship Address

1. Jesus Lorenzo Filipino 468 William Shaw, Cal.

2. Ciriaco R. Farolan Filipino 9 Conde B. Viejo, Quiapo

3. Juan Paguia Filipino 543 Miguelin, Sampaloc

4. Moises Urbiztondo Filipino 135 Amparo, Palanan, Makati

5. Mabini Villadolid Filipino 401, Hipodromo, Sta. Mesa

6. Jose R. Reambillo Filipino Capitol Drive, Pasig

7. Ricardo Padua Filipino 31-A 11th Ave., Murphy, Q.C.

8. Miss Remedios Garcia Filipino 1260 Paz, Paco

9. Rafael Cortes Filipino 480 Asturias, Sampaloc

10. Manuel Manapat Filipino 805 Leyte St., San Juan

11. Primitivo Viado Filipino 1998-B Katamaran, Tondo

12. Ceasar Cartera Filipino 881 Gral., Solano, San Miguel

13. Regino Ramirez Filipino 279 5St. Junio, Pasay

14. Josefino Siaron Filipino 109-A Bonifacio, Baesa

15. Rafael Canseco Filipino 2252 C. del Pilar, San Andres

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ARTICLE VIII Board of Directors

That the number of directors of this Cooperative shall be seven (7) and the name, citizenship and address of the present directors who are to serve until their successors shall have been elected and qualified as provided in the By-Laws are: (Amended on 27 June 2009)

Names Citizenship Address

1. Restituto M. Arevalo Filipino 58 Multinational Avenue, Multinational Village, Pque. City 2. Alexander M. Casas Filipino 1019 Teresa St. Rizal Vill. Brgy.

Valenzuela, Makati City 3. Emeraldo L. Hernandez Filipino 26 Stardust,Concepcion 2,

Marikina City 4. Emma R. Llamas Filipino B8 L8 Lipa St.,South City Homes, Binan, Laguna 5. Jesus Gregorio F. Noriega III Filipino #109 3rd St., Riverside Vill., Pasig 6. Julieta S. Tañeca Filipino #83 Windylane St., VVCH, Cainta,

Rizal

7. Fe M. Vidar Filipino 4279 Lotus St., Sun Valley, Parañaque City

(Amended on 27 June 2009)

ARTICLE IX Capitalization

That the Authorized Share Capital of this Cooperative is Two Billion Pesos (P2,000,000,000.00), Philippine Currency, divided into Twenty Million (20,000,000) Common Shares with a par value of One Hundred Pesos (P100.00) per share. (Amended on 27 June 2009, 14 May 2011, September 22, 2012, March 28, 2015 and March 19, 2016)

That at least twenty-five percent (25%) of the Authorized Share Capital has been subscribed and paid amounting to One Billion Ninety Four Million Four Hundred Sixty Thousand Seven Hundred Forty Seven Pesos (P1,094,460,747.00),

Philippine Currency, by the cooperators and members-subscribers. (Amended on 27 June 2009, 14 May 2011, September 22, 2012, March 28, 2015 and March 19, 2016).

BE IT KNOWN THAT: EMMA R. LLAMAS has been appointed as Treasurer of this Cooperative to act as such until her successor shall have been duly elected/appointed and qualified in accordance with the By-Laws. As such Treasurer, she has been authorized to receive payments and issue receipts for membership fees, share capital subscriptions and other revenues for and in the name of this Cooperative. IN WITNESS WHEREOF, We have hereunto signed our names this 27th day of June, 2009 in Makati City, Metro Manila, Philippines.

NAME AND SIGNATURE OF COOPERATORS NAME SIGNATURE

1. Restituto M. Arevalo SIGNED

2. Alexander M. Casas SIGNED

3. Miguel B. Dawis SIGNED

4. Julieta R. Gonzales SIGNED

5. Emeraldo L. Hernandez SIGNED

6. Horace A. Lavides SIGNED

7. Emma R. Llamas SIGNED

8. Eduardo C. Miranda SIGNED

9. Jesus Gregorio F. Noriega III SIGNED

10. Enrique S. Pascual, Jr. SIGNED

11. Gerardo M. Rodriguez SIGNED

12. Noel P. Santos SIGNED

13. Mario D. Soriano, Jr. SIGNED

14. Julieta S. Tañeca SIGNED

15. Fe M. Vidar SIGNED

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SIGNED IN THE PRESENCE OF:

SIGNED SIGNED Benjamin O. Dorosan Danilo L. Barrientos WITNESS WITNESS

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES ) MAKATI CITY ) S.S. Before me, a Notary Public for and in the City of Makati, Philippines on this 18

TH day of May, 2010, in the City of

Makati, Metro Manila, Philippines, the following persons personally appeared with their individual Competent Evidence of Identity indicated opposite their respective name:

NAME COMPETENT EVIDENCE OF IDENTITY

1. Restituto M. Arevalo SSS ID NO. 03-5265100-0

2. Alexander M. Casas SSS ID NO. 03-4387480-9

3. Miguel B. Dawis SSS ID NO. 33-0321730-6

4. Julieta R. Gonzales SSS ID NO. 03-6438619-8

5. Emeraldo L. Hernandez SSS ID NO. 03-5890880-9

6. Horace A. Lavides SSS ID NO. 03-1051240-8

7. Emma R. Llamas SSS ID NO. 03-5925135-1

8. Eduardo C. Miranda SSS ID NO. 03-9473145-4

9. Jesus Gregorio F. Noriega III SSS ID NO. 03-8126120-9

10. Enrique S. Pascual, Jr. SSS ID NO. 03-4005347-4

11. Gerardo M. Rodriguez SSS ID NO. 03-8329316-5

12. Noel P. Santos SSS ID NO. 03-8613527-5

13. Mario D. Soriano, Jr. SSS ID NO. 33-3451811-3

14. Julieta S. Tañeca SSS ID NO. 03-7054087-6

15. Fe M. Vidar SSS ID NO. 03-1866772-4

all known to me and to me known to be the same persons who executed and signed the foregoing Amended Articles of Cooperation of PLDT EMPLOYEES CREDIT COOPERATIVE (PECCI) and who acknowledged to me that the same is their free will and voluntary act and deed. (Amended on 14 May, 2011)

IN WITNESS WHEREOF, I have hereunto set my hand and seal on the date and place first above written.

Doc. No. : 364 Page No.: 75

Book No.: 1 Series of : 2010

SIGNED

MA. SOCORRO P. PUNSALANG

NOTARY PUBLIC

UNTIL DECEMBER 31, 2011

PTR NO. 2098228-1/11/2010 – MAKATI

IBP NO. 803794-12/28/2009-MAKATI

ROLL OF ATTORNEY NO. 37380

MCLE NO. 0013547