VOTING TRUST AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This This AGREE GREEME MENT NT,, made made and and exec execut uted ed ! and and et" et"ee een n Napolyn Napolyn P. Fernandez Fernandez,, and Abegail Abegail P. Guardian Guardian,, #"ne #"ne$s $s and and h#%d h#%de$ e$s s #& sha$e ha$es s #& the ca'it a'ita% a% st#c( t#c( #& )NG )NG *#$'# #$'#$a $ati ti#n #n,, a c#$'#$ati#n c#$'#$ati#n #$+anied and existin+ existin+ unde$ the %a"s #& the Phi%i''ines, Phi%i''ines, and an! #the$ #"ne$s and h#%de$s #& sha$es #& the ca'ita% st#c( #& the said c#$'#$ati#n "h# ma! he$ea&te$ ec#me 'a$ties he$et#, each &#$ himse%& and n#t &#$ the #the$s, he$eina&te$ ca%% the STOC!O"#ERS, STOC!O"#ERS, and Frederi$% C. &ar$elon he$eina&te$ &ar$elon he$eina&te$ ca%% the TRUSTEE, TRUSTEE,
W)TNESSETH:
WHEREAS, the STO*KHOL-ERS e%ie.e that it is essentia% &#$ the success #& the a#.e/menti#ned c#$'#$ati#n and &#$ the est inte$ests #& a%% the st#c(h#%de$s the$e#& that the said c#$'#$ati#n sha%% e mana mana+e +ed d and and di$e di$ect cted ed du$i du$in+ n+ the the next next &i.e &i.e 012 012 !ea$ !ea$s s #& its its existence unde$ a de&inite and &ixed '#%ic!3
WHE WHEREAS, the said STO*KHOL-E L-ERS ha.e ha.e this his da! t$ans&e$$ed and de%i.e$ed t# the TR4STEE ce$ti&icates &#$ &u%%! 'aid sha$es #& One Hund$ed Th#usand PESOS 0Ph' 566,6667662 each, #& the ca'ita% st#c( #& the a#.e/named c#$'#$ati#n, as &#%%#"s: Name Na'#%!n P7 8e$nande Ae+ai% P7 P7 Gua$dian
NOW, THERE8ORE:
N#7 #& Sha$es 566,666 566,666
5st: The T$ustee d# he$e! '$#mises and a+$ees "ith the STO*KHOL-ERS indi.idua%%! that the TR4STEE "i%% cause t# e issued and de%i.e$ed t# each #& said STO*KHOL-ERS indi.idua%%!, a ce$ti&icate &#$ the nume$ #& sha$es t$ans&e$$ed and de%i.e$ed t# the TR4STEE, as a#.e set &#$th in sustantia%%! the &#%%#"in+ &#$m:
9)NG *#$'#$ati#n VOTING TRUST CERTIFICATE 9TH)S )S TO *ERT)8Y that as he$eina&te$ '$#.ided 8$ede$ic( *7 Ba$ce%#n "i%% e entit%ed t# $ecei.e a ce$ti&icate #$ ce$ti&icates &#$ ;66,666 &u%%! 'aid sha$es #& the 'a$ .a%ue #& One Pes# 0Ph' 57662 #& the ca'ita% st#c( #& the )NG *#$'#$ati#n, #n the 56th da! #& Ma$ch ;65<, and in the meantime t# $ecei.e 'a!ments e=ua% t# the di.idend, i& an!, c#%%ected ! the unde$si+ned TR4STEE u'#n a %i(e nume$ #& such sha$es standin+ in thei$ names, and unti% a&te$ actua% de%i.e$! #& such st#c( ce$ti&icates the TR4STEE sha%% '#ssess and sha%% e entit%ed t# exe$cise a%% $i+hts #& e.e$! name and natu$e, inc%udin+ the $i+ht t# .#te in $es'ect t# an! and a%% such st#c(, it ein+ ex'$ess%! sti'u%ated that n# .#tin+ $i+ht 'asses t# the st#c(h#%de$s ! #$ unde$ this ce$ti&icate #$ ! #$ unde$ an! a+$eement ex'$ess #$ im'%ied7
This ce$ti&icate is issued unde$ and 'u$suant t# the te$ms and c#nditi#ns #& a ce$tain a+$eement dated the 56th da! #& Ma$ch, ;65<, ! and et"een the unde$si+ned TR4STEE
)N W)TNESS WHEREO8, the unde$si+ned .#tin+ TR4STEE ha.e executed this ce$ti&icate this 56 th da! #& Ma$ch, ;65<
>>>>>>>>>>>>>>>>>>>>>>>>>>> 8$ede$ic( *7 Ba$ce%#n
;nd: That &i.e !ea$s he$ea&te$, i7e7, #n 56th Ma$ch ;6;;, the TR4STEE in exchan+e &#$ and u'#n the su$$ende$ #& the a&#$esaid
.#tin+ t$ust ce$ti&icates then #utstandin+ "i%%, in acc#$dance "ith te$ms the$e#&, de%i.e$ #$ cause t# te de%i.e$ed '$#'e$ ce$ti&icates #& e=ui.a%ent am#unt #& st#c( #& the )NG *#$'#$ati#n3 ?$d: The TR4STEE sha%% cause the a#.e/menti#ned de'#sited sha$es #& the ca'ita% st#c( #& the )NG *#$'#$ati#n t# e t$ans&e$$ed #n the ##(s #& said c#$'#$ati#n t# the name #& the .#tin+ TR4STEE3
@th: The TR4STEE sha%% '#ssess and sha%% e entit%ed in thei$ disc$eti#n t# exe$cise, unti% the actua% de%i.e$! #& ce$ti&icates #& st#c( in exchan+e &#$ OT)NG TR4ST *ERT)8)*ATES, a%% $i+hts and '#"e$s #& as#%ute #"ne$s #& said st#c(, inc%udin+ the $i+ht t# .#te &#$ e.e$! c#$'#$ate 'u$'#se7 )n .#tin+ the st#c( he%d ! the TR4STEE, "hich ma! e d#ne eithe$ in 'e$s#n #$ ! '$#x!, the said TR4STEE "i%% exe$cise his est ud+ment3
1th: An! and a%% di.idends "hich ma! at an! time du$in+ the 'endenc! #& this a+$eement e dec%a$ed u'#n the sha$es #& st#c( suect t# this a+$eement and "hich sha%% e 'aid in cash t# the TR4STEE sha%% e de%i.e$ed t# the $es'ecti.e h#%de$s #& the #utstandin+ .#tin+ t$ust ce$ti&icate7
)N W)TNESS WHEREO8, the a$ties he$et# ha.e he$eunt# set thei$ hands this 56 th da! #& Ma$ch, ;65<
>>>>>>>>>>>>>>>>>>>>>>>>>> Na'#%!n P7 8e$nande
>>>>>>>>>>>>>>>>>>>>>>>>>>> Ae+ai% P7 Gua$dian
S)GNE- )N THE PRESEN*E O8:
>>>>>>>>>>>>>>>>>>>>>>>>>> Ma$a S!
>>>>>>>>>>>>>>>>>>>>>>>>>>> Gin# Tiu
ACNO'"E#GMENT
REP4BL)* O8 THE PH)L)PP)NES2 *)TY O8 MAKAT)
2 S7S7
BE8ORE ME, a N#ta$! Pu%ic &#$ and in *it! #& Ma(ati this 56 th #& Ma$ch ;65<, 'e$s#na%%! came and a''ea$ed: Na(e
NAPOLYN P7 8ERNAN-EC ABEGA)L P7 G4AR-)AN
Co(pe)en) E*iden$e o+ Iden)i)y PASSPORT D / ;65F/5; PASSPORT D YNG/ 56;F@/5?
Pla$e I,,ued-Validi)y Period MAN)LAMAY ;6, ;6;6 MAN)LAI4NE 5@, ;65F
(n#"n t# me and t# me (n#"n t# e the same 'e$s#ns "h# executed the &#$e+#in+ #tin+ T$ust A+$eement and the! ac(n#"%ed+ed t# me that the same is thei$ &$ee and .#%unta$! act and deed and #& the entities $e'$esented the$ein7 W)TNESS MY HAN- AN- NOTAR)AL SEAL this 56 th da! #& Ma$ch ;65< at *it! #& Ma(ati, Phi%i''ines7
-#c N#7 563 Pa+e N#7 J3 B##( N#7 ;3 Se$ies #& ;65<7
M)M) SANTOS N#ta$! Pu%ic &#$ Ma(ati A''#intment N#7 F5??@1 4nti% ?5 -eceme$ ;65< 565 Si+n *#nd#minium a%e$# i%%a+e, Ma(ati *it! R#%% #& Att#$ne!s N#7 J56@@ )BP N#7 <;561J 5;/?5/;65? PTR N#7 ;551?;651/65/;65< M*LE N#7 665;?3F5J5J *#mmissi#n Se$ia% N#7: M/66<
