Sycip-gorres-velayo.docx

SyCip Gorres Velayo & Co. (SGV & Co.) Established in 1946 as W. SyCip & Co., the Firm changed its name twice: first in 1947, to SyCip Velayo Jose & Co., and again in 1953, to SyCip Gorres Velayo & Co. (SGV & Co.). SGV & Co. is the Philippines’ largest multidisciplinary professional services firm with eight offices across the country. The Firm employs nearly 6,000 professionals from various disciplines. We provide integrated solutions that draw on diverse and deep competencies in assurance, tax, transact ion and advisory services. We uphold the highest standards of quality. In fact, the assurance service line of SGV & Co. has been ISO 9001-certified since 1996. SGV & Co.’s track record has remained unmatched in the region. We have accumulated invaluable resources in our 70 years of operations – highly qualified and competent staff, state-of-the-art facilities and an enviable international network. We envision not only to give value -added services to our clients but, more importantly, to become a partner in their and the region’s development. SGV & Co. became a member practice of Ernst & Young Global Limited on June 6, 2002. Ernst & Young (EY) is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. 

Our Values • People who demonstrate integrity, respect and teaming • People with energy, enthusiasm and the courage to lead • People who build relationships based on doing the right thing

FAQ At present, the SGV team is composed of: » 6,000 professional staff

» 190,000 people are united Worldwide by shared values and an unwavering commitment to quality Among professional services firms, we are ranked No. 1 in: » Audit services » Tax services About 150 of the top CPA placers in the last six years joined SGV & Co. About 200 of our partners and staff have postgraduate degrees, a number from foreign universities, including: » University of Pennsylvania » Northwestern » Harvard » Columbia » NYU » Fordham » IMD » INSEAD » London Business School About 406 of our staff have been seconded to foreign offices. We are an ISO 9001 – certified company for Assurance services in the Philippines since 1996. History: 2007 to 2011 – Tow ards greater Corporate Social Responsibility 2007 marked the completion of the Washington SyCip Park, a gift from the partners and principals to Mr. SyCip on the occasion of his 88th birthday. It also marked the Firm’s growing focus on sustainability and corporate responsibility, the personal advocacy of Cirilo P. Noel, who succeeded Mr. Balangue as Chairman and Managing Partner of SGV in February 2010. Mr. Noel believes strongly in the virtue of stewardship. He often emphasized that, as a good corporate citizen, SGV needed to do its p art in promoting environmental responsibility, nation -building and personal wellness. In conjunction with global EY initiatives, SGV undertook programs to reduce waste, promote sustainability and encourage staff participation in such projects as Gawad Kali nga Village 88, Earth Hour, the SGV Fun Run and many others. It was during this period that Ernst & Young also firmed up its global structure, realigning practices across 15 countries, including the Philippines, into a single Far East Area. This would late r evolve into the EY Asia-Pacific Area. Believing deeply in the outstanding capabilities of Filipino professionals, SGV officially established the Asia-Pacific Talent Hub (ATH) in 2010 as a cross -border teaming resource. The ATH not only provides

local staff with quality training and international client experiences, it simultaneously provides global EY colleagues and clients access to a greater pool of skilled, world -class talent. In 2011, the ATH grew to a team of 186 professionals servicing over 65,000 c lients around the world, including Hong Kong, Singapore, Malaysia and Australia. In 2011, SGV marked its 65th year anniversary as well as Mr. SyCip’s 90th birthday with a series of events and milestone projects that would further enhance the Firm’s contrib utions to the country. Stronger than ever with 83 partners, 3,100 staff and over 5,000 clients, the Firm focused on expanding its horizons globally, responsibly and even historically. Guided by Mr. Noel’s commitment to stewardship, the firm continued to ma ke a difference in the country and its diverse communities through several remarkable projects, many of which were channeled through the SGV Foundation. These include making a donation through the Synergeia foundation to build 90 playgrounds in elementary schools around the country, sponsoring 90 semesters of scholarships for teachers, turning over Gawad Kalinga Village 88 to its new homeowners, building primary school library classrooms with the AGAP P foundation, sponsoring a fund -raising Fun Run for staff and clients, and hosting a stunning performance of “Crisostomo Ibarra” by Ballet Philippines at the Washington SyCip Park to help promote the arts. And since stewardship also includes preserving SGV’s legacy, the Firm founded the SGV Museum to serve as a repository for its rich traditions and history over the decades. The facility is located at the penthouse of the Shang Grand Tower on Perea Street. It includes a memorabilia room, a room dedicated to Mr. SyCip, meeting rooms, and interactive modules on SGV ’s history and Mr. SyCip’s life. It also serves as a gallery to showcase the SGV Foundation’s collection of fine paintings and artworks. To accommodate the growing complement of SGV professionals, the firm moved to new and larger offices in Cebu and Davao. In Makati, several teams were also relocated to the nearby iAcademy building and National Life Insurance building. This expansion was yet another testament to SGV’s size and strength as the industry leader in the country.

2002 to 2006 – Strengthening Foundations With the aim of further broadening its ability to provide impeccable service to its clients, the Firm became a member firm of Ernst & Young Global (EY) on 6 June, 2002. This created a powerful synergy between SGV’s well-known culture of integrity, professionalism and excellence and EY’s global network and dynamism, forging a strategic partnership that would champion a two -fold vision and strategy of People and Growth, building on SGV’s forward -looking strategy and strengthening local and internati onal ties. It was at this time that the Firm consolidated its countrywide network into eight branches, servicing key growth sectors in Bacolod, Baguio, Cagayan de Oro, Cavite, Cebu, Davao, General Santos and Makati. In 2003, the Firm, through the SGV Found ation, launched the Entrepreneur Of The Year Philippines, an ongoing program which seeks to recognize and honor visionary and inspiring Filipino business leaders who promote economic growth and nation -building through entrepreneurship. The global Entrepren eur Of The Year program was first introduced in the United States in 1986 by Ernst & Young. Since then, the program has spread to 140 cities in 50 countries worldwide. In 2004 Mr. Purisima left SGV to join the Department of Trade and Industry and was succe eded by David L. Balangue as Chairman and Managing Partner. It was during this time that the country’s reporting standards converged with international rules through the adoption of the Philippine financial Reporting Standards (PFRS). Mr. Balangue was a me mber of the Philippine Interpretations Committee, which aided local companies in the process of implementing PFRS. In the same year, the Alfredo M. Velayo School of Accountancy was founded at the University of Santo Tomas. In 2006, SGV celebrated its 60th year anniversary with a growing family of 75 partners and nearly 2,000 staff. This number would soon be overshadowed by even more rapid growth and expansion.

1997 to 2001 – 55 Years of Leadership Then Chairman and Managing Partner Cesar V. Purisima has s aid, “There is nothing more difficult to carry out, nothing more doubtful of success or more dangerous to manage, than to initiate a new order of things.” Purisima knew whereof he spoke, as he introduced the concept of market circles and reorganized the Fi rm under a new structure. But change, in any organization, is inevitable. The only thing left to be done is

ensure as smooth a transition as possible, with as little pain as possible. To this end, Purisima created a new committee tasked with making decisio ns on issues affecting day-to-day operation of the market circles and service lines. 1992 to 1996 – Birth of the New Economy R. Navarro left SGV in 1992 to become Secretary of Trade and Industry under the term of Former President Fidel V. Ramos. Gloria L. Tan Climaco succeeded him to become the first female Chairman and Managing Partner of SGV. During her term, she led SGV in fi nding new applications for its expertise and challenged innovation from everyone. SGV was successful at offering consulting services in new and challenging areas — complex financial audits, mergers and acquisitions, debt -to-equity swaps, revolving trade fa cility arrangements, recapitalization, capital structuring, BOT projects, IPOs, asset securitization, privatization, and foreclosure and bankruptcy proceedings. SGV was the first in the industry to provide corporate finance consulting and contract financia l management. The year 1996 marked the Golden Anniversary of the Firm. A milestone for the history of the Firm, the 50th anniversary was punctuated by month -long celebrations – including a grand alumni homecoming – and the release of the “SGV 1946 -1996: A Gold Record” book. But what made the event most poignant was the announcement of Washington SyCip’s retirement. After 50 years of nurturing and molding the Firm into the respected and exceptional institution SGV has become, Washington SyCip turned over the reins of managing the Firm to the new breed of SGV eans. The year 1996 heralded the start of Carlos R. Alindada’s term as Chairman and Managing Partner. This period in the Firm’s history was a witness to economic and political upheavals as the world grappl ed with the challenges of a New Economy, and as the Asian financial crisis impacted on all sectors and businesses in the region. The Firm met these challenges head -on. Resilience, consistency and dedication were the elixir of SGV, as the years marched on. 1987 to 1991 – The Age of Globalization A global firm Heading into the ’90s, SGV continued to expand its reach and services. The Firm’s scope of practice grew to include the whole range of audit, tax, and consulting services using advanced technologies, methodologies and approaches for all industry groups within a worldwide network of offices, experts, and resources while serving clients on a global scale from a solid Asian base. With technology from AASC, the Manila Advanced Systems Center has been devel oping software for the major firms in the US and Japan through satellite communications since 1988. SGV has also contributed to the AASC structure by providing in-depth understanding of the firms. SGV Consulting embarked on a major engagement in Ghana – one of thousands of International Development Projects SGV has undertaken since the early ‘70s throughout Asia and in other regions of the world. SGV also offered its services for investment in Vietnam once again. Because of SGV’s indomitable leadership, its track record has remained unmatched in the region. It has accumulated various resources in its four -and-a-half decade of operations – competent staff, state -of-theart facilities, and an international network. The vision of SGV is not only to give value s ervice to its clients but, more importantly, to become a partner in development of the country where it operates. The Arthur Andersen Worldwide Organization shares this vision. 1982 to 1986 – Door to the World Arthur Andersen & Co., S.C. In 1982, Rizalin o S. Navarro took over as Chairman and Managing Partner of SGV . During his 10 -year term he oversaw and guided the Firm through many changes, the most important of which was gaining a global partner. In 1985, after four decades of regional expansion, The SG V Group member firms in Indonesia, Philippines, Taiwan, and Thailand became members of the Arthur Andersen & Co., Société Coopérative, also known as the Andersen Worldwide Organization (AW). AW was already the world’s largest professional service organization at that time, with operations in roughly 50 countries and a workforce of about 30,000. “The association with AW was a big strategic step,” Navarro said. “We chose AW because it was the best in IT and we knew that IT would be a critical competitive fact or in our profession.”

The relationship between the two organizations was mutually beneficial. The SGV Group served as AW’s link to East Asia while AW afforded SGV access to its highly advanced computer technology and training programs, and to its international network. In 1986, the Manila Advanced System Center and the Microcomputer Resource Facility were made operational through rapid technology transfer from AASC. Aided by computerization, SGV provided services to over 8,000 clients. All levels of the organization benefited from intensive training. Formal training and international on -thejob experiences dramatically increased skills and enabled the Firm to deliver outstanding quality service in the field of technology. 1977 to 1981 – Competitive Edge Development through technology and linkages In 1978, the SGV Development Center was inaugurated. It housed an array of modern facilities utilizing an open plan concept for office space. Among its features were a computer center and expanded training and audio-visual facilities. The Center became a pop ular site for a variety of activities including public seminars and numerous internal training programs for the Firm. The Center also became the home of the Institute of Advanced Computer Technology (I/ACT) which was established by SGV in affiliation with the Control Data Corporation of the US. I/ACT became one of Asia’s leading organizations in the field of computer training. Industrialization in most countries in East Asia paved the way for The SGV Group to establish and formulate tie-ups with reputable o rganizations. These links enabled The Group to enter markets it has not previously tapped. It was in this period that the full range of services (audit, management consultancy, tax advisory) was offered by most of the member firms to their clientele. By this time, The SGV Group had firmly established itself as a strong regional organization and had acquired a reputation for quality, excellence, and professionalism. It was more than ready to undertake expansion beyond East Asia. SGV signed a contract with a large corporate group in Saudi Arabia to form SGV -Arabia Ltd. The office offered technical and advisory services. It also assigned staff to finance, accounting, and administrative positions in public and private institutions in the Kingdom. Although SGV partners had participated in international forums, on an ad hoc basis for 30 years, it was only much later that their presence began to be identified with The SGV Group. Beginning 1977, The SGV Group religiously sent a contingent to periodic conferences of t he ASEAN Federation of Accountants, confederation of Asian Pacific Accountants, ASEAN Chamber of Commerce and Industry, and the Pacific Basin Economic Council. SGV maintained a high profile at such gatherings as partners often occupied prominent positions. In 1982, Wash SyCip was elected president of the International Federation of Accountants (IFA). He was IFA’s first Asian president. To be more responsive to the increasing sophistication of client requirements and the influx of new investments, SGV establ ished its Project Development Services Group. As the industry base of SGV’s clients widened, the Firm adopted an Industry Specialization Program. The Program was aimed at developing competency in different areas by compiling and disseminating relevant information, setting up specialized training programs and materials, and establishing relationships with leading practitioners from each industry. 1972 to 1976 – Economic Take-Off Rapid expansion In 1972, Wash SyCip passed on his responsibilities as Managing Partner of the Philippine member firm to two other partners – Roberto V. Ongpin and Rodolfo B. Jacob – and focused on his task as Chairman of The SGV Group. Each member firm progressed by setting up a consulting practice, establishing more branches, offering a broader range of services, upgrading facilities, and expanding its workforce. During this period, the total number of personnel in the SGV Group reached 2,600 before peaking at 4,000 in 1983. To coordinate and streamline the different services provide d to its client base, SGV developed the total

team service approach. Major client groups were identified and teams of partners from all divisions developed service plans for each group. During this period, The SGV Group gained accreditation from the World Bank, the Asian Development Bank, and other similar institutions. The Group’s accreditation may be attributed to its intensive involvement in International Development Projects (IDPs) in non -SGV Group member countries. One such IDP was the South Nyanza Sug ar Project in Kenya in 1976. The SGV Group organized a management consulting practice in Hong Kong, as it tried to gain a strategic position in anticipation of doing businesss in China . The Group also formalized a correspondent relationship with Seoul -based Ahn, Kwon & Co. to service the multinational and local firms operating in the country. The turn of political events in Vietnam forced SGV -Thuan & Co. to discontinue operations. Mario Gutierrez, partner-in-charge of the Vietnamese office, was one of the expatriates who left Saigon before its fall to the communist regime. By 1976, the member firms of The SGV Group – located in the Philippines, Taiwan, Thailand, Indonesia, Malaysia, Singapore, Korea and Hong Kong – constituted the biggest network of nationa lly independent professional firms in East Asia. 1967 to 1971 – Looking Outw ard Bridges across Asia Inspired by the success of the tie -up with the Taiwan firm and Mr. SyCip’s concept of a regional organization of Asian professionals, Yukta Na Thalang & Co . – the No. 1 accounting firm in Thailand – became a member firm of the SGV Group in 1967. Utomo Josodirdjo’s Kantor Akuntan Drs Utomo of Indonesia joined the Group in 1968, enabling the Group to participate in the bustling economic activity in Indonesia. In 1970, The SGV Group further expanded its reach to include Singapore and Malaysia. The following year, The SGV Group penetrated the Vietnamese market through the establishment of SGV -Thuan & Co., the first auditing firm in the country to apply internatio nal standards. Another significant development was the setting up of a Management Service Division in each of the Indonesian, Malaysian, Singaporean, Taiwanese, and Thai member firms. The move was in response to the growing need for consultancy services in the region. Meanwhile, to expand its area of operations, T.N. Soong & Co. established a branch office in Taiwan. As the number of The SGV Group member firms increased, so did the need for a coordinating office increased. The SGV Group office was put up in Manila to ensure adherence to uniform standards of professional services throughout the network. An Executive Committee, comprised of managing partners of the member firms, formulated regional policies. The office was also tasked to oversee the requiremen ts of the member firms in terms of manpower and facilities. During this period, The SGV Group undertook its first projects financed by international development institutions. It also embarked on consulting projects for countries without member firm offices . On the occasion of its 25th anniversary, SGV launched the Professional/Social Involvement Program (PSIP). Through the PSIP, the Firm donated professional services to nonprofit, social and civic -oriented organizations. 1962 to 1966 – The Asian Connection Birth of an Asian Multinational This period marked the birth of The SGV Group. In 1962, through mutual acquaintances, Wash SyCip met with T.N. Soong who owned a public accounting firm in Taiwan. The two gentlemen soon discovered that they had common ideas on the role of accounting firms in economically developing countries. Taking advantage of an economic boom in Taiwan in 1964, T.N. Soong & Co. and SGV joined forces by entering into a technical cooperation agreement. The firms agreed to subscribe to the s ame high level of professional and ethical standards, share professional materials, ensure uniform training programs, and consult with one another on matters of mutual benefit to their practices.

SGV continued to expand its local network with the addition of the Iloilo and Iligan offices. Meanwhile, the increase in people and facilities in the Manila office necessitated the Firm’s transfer to a 14 -storey building along Ayala Avenue in Makati, the new hub of business and finance in the Philippines. As SGV continued to expand its practice in the country, it kept abreast of developments in the international professional world. The Firm began correspondent relations with some of the leading firms in the West, among them Arthur Andersen & Co., Ernst & Ernst, Hask ins & Sells, and Arthur Young. Also, in 1966, SGV institutionalized its social responsibility by organizing SGV Foundation (SGVF). To this day, SGVF participates in the upliftment of the industrial and management sciences through financial support and gran ts for professioral and research chairs, scholarships, and other programs. 1957 to 1961 – Laying the Foundation Training, excellence, growth Even as SGV continued to attract the best graduates in every field, it remained actively committed to staff development, encouraging each staff to strive for excellence at all levels. The Firm’s first scholar returned to the country in 1957 and laid down the framework for SGV’s training program. In -house training was organized. Employees from all levels were enc ouraged to pursue higher studies or take up additional courses to develop their expertise. Scholarships to MBA programs locally and abroad were granted to deserving staff members. To ensure consistent above -par work performance and maintain client confiden ce, management standardized its audit procedures and developed a working paper model. To oversee the training of the audit staff and adherence to quality standards, the Firm established the Research and Training Division. To provide more incentives to its increasing number of employees, the management inked a policy granting an annual health bonus. It also created the Loyalty, Special, and SyCip awards in recognition of noteworthy achievements and length of service. In 1958, SGV assumed the practice of Brit ish firm Fleming & Williamson, which was rated the second largest accounting firm in the Philippines. The Firm expanded further by establishing offices in Bacolod and Davao cities. 1952 to 1956 – Establishing Identities Taking the lead The Firm pioneered the Filipinization of the accounting profession. The first step taken to achieve this end was to work out a merger with Henry Hunter Bayne & Co. (HHB), a firm which started its practice in the country in 1906. In 1953, Thomas Farnell, a senior partner of H HB, decided to return to his homeland and sell his practice to two Filipino accountants – Arsenio Reyes and Ramon J. Gorres. After a series of negotiations between Wash SyCip and the two distinguished gentlemen, the two firms merged to form the largest acc ounting firm in the Philippines. From this relationship, SyCip, Gorres, Velayo & Co., the Firm’s current name, was derived. As the demands of business became more complicated, the need for professionals with world -class capabilities became apparent. To ens ure the continued development of its workforce, and to fill the gap between the academe and actual practice, SGV began a manpower development program through training and scholarships. This five-year period was marked by a growing market for management con sultancy services. Realizing the auspicious prospects in this line of work, SGV founded its Management Services Division, the first of its kind in the country. Artemio L. Raymundo, the Firm’s first scholar, together with Cesar E. A. Virata, then a promising new graduate, nurtured the Division in its early stages. Ray focused on finance - and accounting-oriented engagements while Cesar concentrated on management areas such as production and project feasibility studies. The division became known locally and in ternationally as SGV Consulting. 1946 to 1951 – The Birth Years W. SyCip & Co. established in Manila The year 1946 marked the beginning of SGV & Co.’s history. At the time when the Filipinos were preoccupied with rebuilding the country after World War II, Washington SyCip, armed with a keen business sense and a vision for this country, opened a one -man accounting firm.

The Philippine accounting profession was then dominated by foreigners, as the country was just starting to rise from the ruins of war. Determined to be the partner of business, Wash practiced unparalleled dedication to the profession and provid ed the highest quality of service to his clients. As the number of satisfied clients grew, Alfredo M. V elayo, a boyhood friend with whom Wash shared his dreams, and Vicente O. Jose, an accountant with copious experience in tax work, were taken in as partne rs in 1947. The new partnership gave birth to SyCip, Velayo, Jose & Co. Early on, the three partners assumed different functions in the Firm. Wash saw to setting up the long -range policies and plans; Fred oversaw day -to-day operations; and Enteng became th e one-man Tax Division. In the following year, the Firm embarked on its first overseas engagement, heralding the Firm’s forays into several other countries. Working in foreign offices gave staff the chance to hone their skills, competence and experience in dealing with different cultures. To service more clients outside Manila at a lower cost, the Firm opened its first branch office in the southern city of Cebu. Five years after Wash set up his one -man office, the Firm had grown to 26 people.

SERVICES I. Assurance Maintaining Your Trust To grow and create value, your company must have the trust of its customers, lenders, and investors. The integrity of your company’s financial information and the reliability and security of your technology are critical components in garnering this trust and gaining access to global capital markets. Whether you are managing issues associated with globalization, addressing technology vulnerabilities in the connected economy, or looking to assure the fairness o f your financial information — SGV & Co. can help. We have invested substantially in innovating our global, risk -based audit methodology and technology and knowledge enablers. All our auditors are equipped with our global audit process management and documentation tool. The methodology is supplemented by comprehensive standards and quality controls that are applicable to every client engagement. External Audit We provide independent assurance on financial and nonfinancial information to meet regulatory and other stakeholder requirements utilizing world -class business -process-based methodologies and supporting tools. Our Global Audit Methodology and Documentation Approach is a risk -based approach that focuses on the drivers of the business, the associated ris ks, and the potential effects on financial statements accounts, and delivers a consistent, high -quality audit anywhere in the world. Compilation and Review Services We provide compilation services by presenting in the form of financial statements informati on the representations of management (owners) without expressing any assurance on the statements. We also provide review services by performing inquiry and analytical procedures that provide the Company with a reasonable basis for expressing limited assura nce that there are no material modifications that should be made to the statements in order for them to be in conformity with generally accepted accounting principles or, if applicable, with another comprehensive basis of accounting. This service generally includes limited review of interim financial statements. Accounting Consultations We assist companies in the proper applications of accounting principles and provide awareness of new accounting principles that will become effective. These services general ly include reports on the application of accounting principles, reports on accounting position through technical research, and accounting updates seminars. International Accounting Standards Conversions and Advisory We assist companies in converting their present financial reporting system to International Accounting Standards (IAS) and in addressing accounting, auditing, and other reporting needs as well as other associated business issues. US Generally Accepted Accounting Principles (GAAP) Conversion We a ssist

companies in converting their present financial reporting system to US GAAP and in addressing accounting, auditing, and other reporting needs as well as other associated business issues. Regulatory Compliance We assist companies in completing certain reporting requirements under existing rules and regulations of regulatory bodies such as the Board of Investments (BOI), the Securities and Exchange Commission (SEC), the Philippine Export Zone Authority (PEZA), an d Bangko Sentral ng Pilipinas (BSP). Extended Audit Services We provide customized assurance services beyond the traditional external audit scope, such as services on branch project audit, audit of specific account, and fixed asset count. Accounting Advisory and Consultation Services on Deal Structuring We advise on the accounting impact of the deal structuring transaction on the financial statements and alternative treatments that might be relevant. This will assist companies in maintaining appropriate mar ket valuation, managing financial reporting risks, understanding sources and timing of earnings and cash flow performance, and determining accounting impact of the transaction structure. Due Diligence Work We review financial information based on agreed -upon procedures, assisting acquirers/investors in determining factors affecting the price and post -acquisition financial issues and providing integrated support throughout the acquisition process. Fraud and Investigative Dispute Services • Fraud and Forensic. We assist companies in preventing fraud by implementing fraud deterrence programs, as well as provide expert advice and assistance during fraud investigations. • Assurance Support and Extended Audit Services. We can provide you with experts to support yo ur external auditor or for expanded operational audit coverage to allow your internal audit function to focus on completing its internal audit plan. » Strategic Risk Assessment. We assist companies’ top management in developing a summary of the key risks that must be properly controlled to optimize shareholder value and insights into how to best manage these risks. » Risk Management Transformation . We advise companies on how to improve existing risk management capabilities against leading practices.

II. Tax Driven to Exceed Your Expectations As today’s business environment becomes increasingly complex with a host of tax rules and regulations, it is imperative that businesses equip themselves with the best advice on these matters to compete effectively and effi ciently. NOW, more than ever, enterprises need to find new ways to align their tax strategies with their overall business needs, while meeting their compliance obligations wherever they arise. Our Tax Services can help you make these things happen by assisting you in identifying and implementing the best possible approach to all tax and business concerns. Tax Compliance Review Our tax professionals provide a diagnostic evaluation of a company’s tax position, practices, and procedures to determine whether they comply with Philippine tax laws. The objective of the undertaking is to identify potential tax exposures and recommend corrective actions. Tax Planning Engage ment We help companies identify opportunities or areas w here they can effectively generate tax savings within the parameters allowed by law. Tax planning can be made in the areas of regular and minimum corporate income taxation, fringe benefits taxation, etc. Tax Due Diligence Review We provide an investor with insights as to the potential tax exposures of an investee company to help determine the valuation to be attributed to the investment and thus, arrive at a sound and informed business decision. Tax Advocacy/Controversy Work We assist clients in liaising wi th the tax authorities for requests for rulings or opinions from the Bureau of Internal Revenue and the Department of Finance and in handling controversies and disputes arising from tax assessments. We can also represent enterprises in filing administrativ e claims for refund from the national and local governments as well as provide assistance in obtaining tax credit certificates from the authorities. We also provide assistance in the sale and/or purchase of tax credit certificates by handling and verifying the related documentary requirements as well as liaising with the tax authorities. Litigation Support Services We assist taxpayers who have claims for refund or who have tax assessments by providing a detailed review of the documents supporting their clai ms for refund or position against the assessments and presenting these to the Court of Tax Appeals. This helps facilitate the presentation of evidence in Court. Invest ment Advisory Services Our tax experts help prospective investors determine the most cost and tax-effective vehicle/structure for Philippine inbound and outbound investments. We also assist in the related registration requirements. Likewise, we help plan and implement strategies to reduce tax liabilities for taxpayers doing business in

multiple taxing jurisdictions. We can also help develop or review existing financial models for companies to ascertain the tax-implications of different alternatives being considered in the acquisition of investment portfolios. General Advisory Services We offer sound and expert advice on a wide range of tax matters such as those relating to corporate organizations and reorganizations, build -operate-transfer projects, joint venture agreements; various contracts and financial products; revenue legislation and rules, etc. We also provide advice and assistance with the registration and reporting requirements of government agencies relating to tax and/or investment incentives granted under various investment laws and regulations as administered by the Securiti es and Exchange Commission, Department of Trade and Industry, Board of Investments, Bangko Sentral ng Pilipinas, Philippine Economic Zone Authority, Clark Development Corporation, Subic Bay Metropolitan Authority, Local Governments, etc. Transfer Pricing Services We provide organizations with a professional assessment of whether their existing intercompany pricing policies comply with tax laws and regulations by reviewing existing transfer pricing methods and recommending the adoption of the optimal model. Likewise, we help formulate planning ideas to ensure that pricing policies comply with regulations in different taxing jurisdictions to reduce risk of double taxation and arrive at an optimal supply -chain structure. We also provide integrated, multi -country approach to meet substantiation requirements to efficiently document transfer pricing policies. Customs Services We provide Post-Entry Compliance Review, which can help companies prepare for a Customs audit and thus, minimize potential deficiency customs duties assessment and penalties. Likewise, we can also help business proactively plan future importations to minimize customs duties through our Pre-Importation Planning and Review Service. This will cover the determination of appropriate valuation and cl assification of importations to be made as well as other requirements to be complied with to ensure the release of the imported goods from the BOC. Moreover, in case of controversies and disputes with the BOC, our Customs Advocacy Service can provide organ izations with the expertise and resources in effectively handling these matters. Our General Customs Service can likewise assist companies in securing the necessary permits, clearances, and licenses related to companies import requirements. Contract Tax Services/Outsourcing Our tax professionals can provide assistance in determining a company’s tax liabilities, preparing related returns, and remitting these taxes to regulatory agencies within the prescribed deadlines. As an alternative, our Staff Loan services can provide specialized tax expertise in a company’s office to extend real -time and responsive service to meet various tax needs. Income Tax Return Preparation We provide companies with expertise in the determination of compensationrelated tax and soci al security liabilities through our Payroll Outsourcing. The service extends to the preparation of employees’ and expatriates’ Philippine and US Tax Returns as well as in other reporting requirements to be submitted to regulatory agencies. Estate/Family Wealth Planning

We offer advice on how to effectively reduce gift and estate taxes. We provide tax planning for wealth transfer and tax advice on creation of trusts, and prepare estate and donor’s tax returns. Tax Seminars We organize seminars to equip your people with a “Back to Basics” understanding of the Philippine tax system. Focus is on the principles and fundamentals of how various types of taxes operate with details on their implementation and administration. Included in the seminars are discussions o n current issues to update participants with the latest pronouncements of various tax agencies. Other seminars also cover tax issues on local government taxation, how to handle claims for refunds and assessments, etc. Tax Perfor mance Advisory Services / Tax Technology and Transfor mation We assist our clients with the strategic and operational challenges facing their tax functions. We also help our clients improve the effectiveness of their tax function and in the implementation and/or optimization of tax processes and software tools. Tax Performance Advisory services include tax function process improvement reviews, process design, software implementation and enhancement, tax data enablement.

III. Advisory What does it take to succeed in the Transfor mative Age? The nature of work is evolving fast, new generations are now dominating the workforce and we’re all being asked to adopt new behaviors. To be more innovative, more agile, more collaborative, more everything. Business is anything but usual. And navigating the Transformative Age demands we ask better questions. • How can AI enhance human potential? • Could you execute your strategy better by seeing digital from every angle? • Do you change your people or change the way your people work? • Does cybersecurity only become a priority once you’ve been attacked? We believe better questions come from better connections. This means embracing a diversity of ideas and a rich mix of talents, backgrounds 
 and experience. These combined perspectives will give yo u new insights and equip you to operate in an entirely new way. It’s clear that the more we all connect, the better able we are to meet the complex challenges of our times, and forge new paths to growth. Welcome to the Transformative Age An age where the u pside of disruption can create limitless opportunities. An age that demands better questions. And better connections.

Digital campaigns and solutions Digital strategy and innovation Solutions:

Digital strategy and Transformation Our clients operate in a constant state of emergence. Companies must evolve at a speed that matches the pace of digital technology adoption, and the way customers experience a company is as important as the company’s products and services. Every internal business model and pr ocess is vulnerable to not keeping pace. Any company that fails to take advantage of existing and emerging digital technologies will be left behind. We believe that converting these disruptions to opportunities requires a different kind of strategy – a “re-strategy” manifesto that evolves at digital speed. We can help you: • Formulate your digital strategy • Refresh your operating model • Inspire the customer and employee behavior you want Digital innovation and incubation Here’s a challenge: devising an in novation strategy that creates and captures economic value. No wonder so many companies struggle to drive real results. They don’t know how best to create, incubate and activate strategies, and commercialize opportunities. We have an agile innovation appro ach to help clients instill a core innovation strategy across the entire organization. What we offer: • Just-in-time scaling: experiments without massive up -front investments in people, process and technology • Disruptive outsourcing: metrics to determine when to persevere, redirect or disengage • Commercialization and scale: from entrepreneurial to traditional management

Digital Tax Effectiveness Technology is rapidly changing how goods and services are sold, where companies base their operations, how the y connect with their customers – and virtually every decision has a tax implication. Tax authorities are struggling to keep pace and taxpayers are struggling to comply as

technology and the burgeoning digital economy drive new digital tax laws across indus tries and around the world. We can help you on your digital journey, identifying and advising you on how to deal with complex digital tax issues and helping you achieve both digital tax effectiveness an d digital confidence. Digital deal strategy and origin ation Digital is a continuous form of disruption to new and existing business models, products, services or experiences, enabled by data and technology across the enterprise. Digital is not an IT strategy or one -off investment. The scale of transformation needed requires a long-term capital strategy. The key challenge for many companies will be a lack of sufficient capital to meet their digital ambition. Businesses need to take a holistic view and incorporate an effective capital strategy into their business strategy. Digital Deal Economy highlights: • 87% are explicitly considering digital transformation in their capital allocation planning • 55% have a sophisticated method in place to quantify the capital needed • 67% of companies are planning to use M&A t o upgrade their digital capabilities Digital deal diligence and valuation Protecting your investment How do I protect acquisitions from digital disruption? Digital is a continuous form of disruption to new and existing business models, products, services or experiences, enabled by data and technology across the enterprise. Digital disruption brings challenges and opportunities to the business models of companies across all sectors globally. It involves the interplay between many aspects of a company’s oper ating model, including corporate strategy, customer experience, supply/value chain management, IP ownership, tax planning and IT. From assessing value drivers to due diligence, there are challenges that need addressing when dealing with M&A driven by digit al transformation. Acquirers need more sophisticated and powerful processes for identifying, approaching and screening opportunities. Working with the right advisor can play a pivotal role in understanding and realizing value from a transaction, while also reducing risks. Maximize return on investment How do I best value a digital business? Digital is a continuous form of disruption to new and existing

business models, products, services or experiences, enabled by data and technology across the enterprise. Digital is disrupting the traditional business ecosystem and competitive landscape. Playing fields are being leveled, giving small start -up companies or non -traditional competitors the same level of market access as an established company. Young companies are difficult to value for a number of reasons. Some are start -ups with new technologies and idea businesses, with little or no revenues and operating losses. Even young companies that are profitable have short histories and most young firms are dependent upon private capital – initially owner savings and venture capit al and private equity later on.

Digital experience and transformation Solutions:

Continuous experience implementation Most companies know they should be doing more with digital – particularly when it comes to the customer experience. Our clients often ask us how they can: • Keep pace without knowing the future • Prepare to compete against a company that doesn’t yet exist • Balance what is working today with what needs to change for tomorrow We believe the answers lie in a different kind of transformation. It’s not about implementing technology to improve the customer experience – it’s about running a business like a digital leader. Rather than undertaking various digital projects in pockets acr oss the organization, companies can industrialize innovation across their entire business – creating a culture that continuously iterates and improves the customer experience. We can help you: • Stop “doing digital” and start “being digital” • Drive experi ence transformation • Create new sources of value by prioritizing customer experience investments

Digital operations Many of our clients know their operating models aren’t fit for purpose in a digital world. First up – they need to overhaul their operation s by applying digital to core business processes in supply chain, finance and HR.

While digital capabilities can often be found in various pockets, many organizations know they’re a long way from infusing digital where it needs to be: throughout their busi ness. Enhanced digital operations allow leaders to achieve a disruptive and agile organization – resulting in performance breakthroughs and new business opportunities. Benefits: • Traditional approaches to business operations have only achieved a savings of 3%-5% for cost of goods and 5%-10% for selling and general -administrative expenses. Digital operations have the ability to deliver 25%-40% of cost savings. • Digital has the ability to drive higher levels of productivity run time using a connected suppl y chain with IoT, 3D printing, automated -guided vehicles and robotics. • Enterprise-wide transformation can be enabled by predictive workforce analytics, augmente d reality and cloud technology. Solutions:

Agile Business transformation (SAP S4 Hana)

Smart factory Intelligent automation (RPA) Future w ork now Tax finance operation (managed services) Tax technology and tax big data Tax technology. Technology both defines and underpins the workings of the new digital tax function and its operating model strate gy. Tax-specific technology makes it possible to answer the mandates of the global digital economy and meet the demands of changing tax data flows, data analytics and data requirements. This new tax function needs new skillsets as well, including a tax tec hnologist who is multilingual, fluent in the languages of tax, finance and IT. These changes have also given rise to EY’s Digital Tax.Tech, with focus on connecting the people, process and technologies that companies need to fuel innovation, power competit ive advantage and build a high -performing tax function. Tax big data. Data drives all things digital. You may already be using big data to track and improve customer activities and experience. Now, managing tax big data and leveraging it for better visibil ity into and out of the enterprise has become a critical success factor as well. Tax big data management is scalable – it not only enables more efficient compliance, it also supports the entire tax function, from planning through controversy. We can help y ou get more out of your tax big data, turning it into a valuable enterprise asset that can improve visibility and provide insight to facilitate strategic business decisions.

Digital trust Solutions:

Cyber analytics We aim to help our clients become intelligent information -driven organizations, where fact -based decision making is embedded into daily operations from the boardroom to the front line. At the same time, we help them understand the essential role that the human element plays in elevating ra w info to powerful insights and decisive action. Regardless of industry, business function or data maturity, our clients will benefit from our three spheres of experience: • Demystify: We demystify the language of analytics and artificial intelligence, dem onstrating how insights can fuel confident, fact -based decisions. • Align: We help build the structures and processes that convert data into a strategic asset, aligning data capture and analytics within critical streams of the organization. • Harness: We help identify hidden performance drivers in both traditional and non -traditional data functions, from operations to customer experience, talent and HR, marketing, risk and more. And we harness AI, automation and predictive capabilities to streamline process es and navigate the future. Identity management Digitally connected entities, people and data increase the likelihood of exposure to cybercrime in both the work and home environment. We collaborate with our clients to create innovative answers, designing a trusted digital identity ecosystem from strategy to execution. Our identity management innovation delivers scalable, flexible and effective full lifecycle identity management solutions, from assessments to managed identity management services. An effective identity management solution can help clients achieve the following benefits: • Enablement of their digital platforms • Reduce the cyber risks related to erroneous use or misuse of user access privileges • Achieve compliance with internal policies and ap plicable industry laws and regulations • Reduce the operational cost associated with managing digital identities • Improve business and end -user satisfaction (e.g., reduced staff on -boarding time, simplified access and improved user access review) Digital risk manage ment Organizations need to evolve their risk management function by implementing the right people, processes and technology to move along their organization’s digital journey.

Organizations can start this transformation by building a digital tru st framework to capture the value create value by benefiting from the right risks brought by Digital presents while staying compliant, capable and protected across the digital ecosystem. By incorporating risk into the entire chain of decision making, organ izations can build trusted strategy, trusted implementation of new solutions, and trusted operations. We provide clients with a comprehensive digital Trust framework to ensure they are compliant, capable and insured across the digital ecosystem. Digital tax administration Digitalization is helping make governments stronger, faster and smarter as tax authorities are harnessing the power of digital to improve tax administration, counter fraud and facilitate taxpayer compliance. They’re requiring near real-time data reporting and performing increasingly sophisticated analytics. Companies have to keep pace and EY can help bridge the gap between data compliance and tax readiness. We create processes and leverage leading -edge technologies to capture and an alyze real-time data streams, going beyond compliance to inform valuable business insights, prepare digital responses, enhance transparency – both inside and out – and help build digital confidence among regulators, your shareholders and stakeholders. Digital Audit

Digital grid Financial crime Future of mobility Digital growth market solutions

Navigate the Transformative Age with the betterconnected consultants. Actuarial Major regulatory change. The rise of emerging markets. Ongoing economic uncertainty. Technologydriven turbulence. Increasing consumer expectations. These challenges offer the key to future profitability for insurers who make the right strategic, investment, organizational and operational changes. They must identify and assess new options for value creation while continuing to manage risks and meet emerging regulatory requirements.

Combining the experience of our dedicated actuarial and risk professionals and close partnerships with related practices, we provide truly integrated services ac ross all disciplines in the insurance industry. Our deep global knowledge comes from our work with insurance companies, banks, pension funds, private equity firms, sovereign funds and local regulators and enables us to answer key challenges the industry faces. Our global practice helps organizations around the world successfully meet these challenges. We can help you ask the right questions, set priorities and define the action plans needed to succeed in the fast-shifting insurance landscape. Together, we help you deliver better outcomes and long -lasting results, from strategy to execution Customer Everywhere you look, technology is transforming customer experiences and expectations, and it’s happening faster all the time. In this fast -paced digital world, you need to revolutionize your customer strategy. More than new technology, you need a completely new mode of thinking that puts customer trust at the center of the entire organization, enabling you to create customer relationships that lead to unwavering loyalty and sustainable profits. Our diverse teams, combined with our global connectivity and understanding of your industry issues, inspire us to ask better questions. We then work with you to come up with innovative answers that create experiences with t he transparency, authenticity and integrity that really set you apart from the competition. Together, we can help you build trusted relationships that enable you to deliver better outcomes and sustainable growth. Cybersecurity For us, a better working worl d means solving big, complex industry issues and capitalizing on opportunities to help deliver outcomes that grow, optimize and protect your businesses. Cybersecurity is not just a technology or risk issue. It’s a strategic business imperative. Working wit h our better-connected consultants helps you deliver better outcomes and long -lasting results, from strategy through execution. Our access to a global ecosystem of talent, strategic alliances, intellectual property and managed services means we connect you with the right insight at the right time. Finance Finance is a very different world from what it was just a few years ago. Today finance functions have to look at how the whole of the organization – and beyond – impacts the bottom line.

We’ve shaped a glo bal ecosystem of CFOs, controllers and other accounting and finance executives to help you enhance the value that you’re adding to your enterprise. We’re inspired to ask better questions. And we work with you to create more innovative answers, collaboratin g across the organization, helping you improve finance and accounting processes and delivering the technology to help make it happen. Our global connectivity means we can combine deep operational consulting capability with industry specific leading practices. We have alliances with sector -leading businesses such as SAP, so you get the benefits of their insight. This ongoing collaboration means, together, we can support better outcomes and long-lasting results. Financial Services Risk Management As a leading provider of integrated risk management and regulatory services to the banking and capital markets, insurance, asset management, energy and corporate treasure sectors, we can help you tackle the numerous challenges of risk management. We maintain dedicated Financial Services Risk Management (FSRM) advisory resources which offer a combination of qualitative, quantitative, regulatory, and technology skills along with broad industry experience. The team includes industry practitioners, many former regulators a nd quantitative analysts to provide specialized integrated risk measurement and risk management services to leading financial institutions throughout the world. Our understanding of the issues around risk – the risks you can see as well as the ones you can ’t – inspires us to ask better questions. By teaming globally with you we create innovative answers that can help you see risk management as a means to accelerate your performance. Together, we help you deliver better outcomes and long -lasting results, fro m strategy to execution. Internal Audit Today, change is coming faster than ever before – and there is more of it. The sheer velocity of change has upended the business environment and rearranged the landscape. Organizations must identify, assess and addre ss emerging risks without losing sight of their existing business and control environment. They are not only working to get ahead of the curve – often they are struggling to keep up – and not always succeeding. Management, audit committees and boards of di rectors rely on internal audit (IA) to provide assessments and assurance around the effectiveness of controls and company processes, while also providing support in a diverse array of risk and business process improvement areas.

Our services can help clien ts strategically assess, remediate and improve control issues identified, while also elevating the profile of internal audit in identifying and addressing complex emerging risk areas. We help organizations achieve cost efficiencies in their internal audit functions through the variable cost model we offer, combined with our offshore capabilities. Additionally, our ability to bring innovative ideas and advisory support, greater technology enablement and broad subject matter experience in complex areas global ly allows us to help clients gain significantly enhanced value from internal audit and across other important priority areas of the organization. People Advisory Services On top of existing pressures to cut costs, build stakeholder confidence, expand marke t reach and improve operational agility, every organization wants to know how to gain a competitive advantage through its people — the right people with the right capability, in the right place at the right time, for the right cost, doing the right things. For us, a better working world means helping to solve big, complex industry issues and capitalizing on opportunities to help clients grow, optimize and protect their businesses. Looking at people as part of an integrated business strategy, organizations a re able to gain a competitive people advantage. We team globally to help you advance your organization and, as a result, strengthen both the value of your workforce and your people’s roles and careers. Truly successful transformations only occur when the d esired skills, mindsets and behavioral and cultural change are second nature to everyone in your organization. We have shaped a global ecosystem of consultants and external professionals. The resulting culture o f collaboration and shared innovation can pro vide you with a network of insights and thinking. All to help you design better outcomes an d deliver long-lasting results. Program Manage ment Big, complex business transformation, infrastructure and IT programs promise a lot of value – but often fail to de liver. Program management is about reaping the benefits of change. We help you turn big, complex programs into big, sustainable value. For us, a better working world means helping you deliver outcomes that grow, optimize and protect your business. We believe that when program management and business transformation work better, the world works better. So we work to understand your specific issues and are driven to ask better questions: • Would you rather be 5% under budget and late, or 10% over budget and a year ahead? • Should you address processes first and be more efficient over time, or simply comply with regulations to avoid potentially massive fines?

Whatever the answer, we can help you tame the chaos of large programs, control every moving part and unlock value for the long term.

Risk Assurance Risk Assurance covers all risk services where we provide independent assurance and the preparation towards assurance to our clients where the assurance can be used by our clients to build confidence and trust wi th their customers, the general market/public, key stakeholders or when regulatory (by law or oversight) or contractually required. We can help with: • Working with Audit professionals to help create trust and confidence in their financial reporting and internal control over financial reporting • Business growth, by providing assurance to clients and other stakeholders related to internal controls • Business improvement, by assessing risks and controls related to business imperatives, such as launching new products/services, implementing new technologies or remediating control issues • Providing industry/sector insights and thought leadership with a focus on risk and control matters Risk Transfor mation Every challenge and every opportunity an organization fa ces today demands change. And with change comes risk. Some risks you can see, some you can predict, some you can plan for, and some you can’t. Organizations are not created to manage risk; they are created to generate value as part of a broader aspirational purpose. That purpose is achieved through a series of strategic business decisions that require taking risks – these risks impact business performance. Organizations that identify, manage and respond to these risks well are positioned to grow and remain successful. Our understanding of the issues around risk – the risks you can see as well as the ones you can’t – inspire us to ask better questions. By working globally with organizations, we can create innovative answers that help enhance and ac celerate business performance. Transforming the way they manage risk requires business to challenge the way they think about, identify, manage, and, respond to it. Organizations need to look beyond manageable risks (financial, operational, regulatory), bet ter align their risk and business objectives, improve coordination and alignment of risk activities across the organization, and more effectively leverage technology so that they can better respond to their different risks. Together, we can help deliver be tter outcomes and long -lasting results, from strategy to execution. Strategy

Clients know that strategy becomes pointless without swift, agile execution. It’s the actual doing, the execution fastened to the thinking that benefits you the most. We believe a better working world means addressing big, complex industry issues to deliver outcomes that grow, optimize and protect our clients’ businesses. We work with you to turn thinking into execution; to accelerate profitable innovation and digital ecosystems; d eliver breakthrough innovation strategies; optimize organizations’ capabilities; and help drive growth and manage risk. Our diverse teams, combined with our global connectivity and understanding of your industry issues, inspire us to ask better questions. We then create innovative answers. Together, we deliver better outcomes and long-lasting results, from strategy to execution. Supply Chain and Operations Supply chains and operations are undergoing radical restructuring as they meet the challenge of improving performance in a world of unprecedented complexity and opportunity. They must balance increasing needs for agility and responsiveness against driving down costs and improving cash. We believe a better working world means addressing big, complex i ndustry issues and opportunities to deliver outcomes that help grow, optimize and protect businesses. We work with you to help you effect fundamental change in your operations performance to support sales growth, become more cost competitive, reduce risk a nd enhance operational resilience. Your supply chains and operations should be viewed as sources of strategic competitive advantage, and we can help you identify and invest in the right operating models to unlock the full value from this strategic asset. Our global connectivity, including alliances with sector -leading businesses such as Procter & Gamble, means we can combine deep operational consulting capability with industry -specific leading practices, so you get the benefits of a wide range of insights. This ongoing collaboration enables us to help you design better outcomes and deliver long -lasting results. Technology Technology is at the center of business change – and provides opportunities to improve performance, manage risk and drive innovation. Gett ing the technology right can be the start, or the end point, of a transformation. Every organization’s needs are different. To succeed, you need innovative insight, business perspective and change expertise to unlock the potential to drive growth, save cos ts today and invest in tomorrow. We are inspired to ask better questions and work with you to create innovative answers.

The key is our global connectivity and culture of collaboration: with our clients, with expert consultants – not just in the technology field but from risk, cybersecurity, people and organizational change – and with alliances such as IBM, Microsoft and SAP. We help you see the big business picture, with technology as a key part and driver of it. This ongoing collaboration enables you to design better outcomes an d deliver long-lasting results.

IV. Transaction Advisory Services In a dynamic economy such as the Philippines’, growth is essential for your business if you are to stay ahead. Growth through transactions is a route chosen by many companies as they seek to take advantage of market opportunities. We appreciate that bold transactions are complex and daunting in scale. Our professionals can help evaluate, structure, and execute the deal you need. No matter what the size of your company, where it is located or the business you are in, we specialize in providing transaction expertise at every step of the deal lifecycle. • Transaction Support and Transaction Tax . We provide financial, tax, operational and commercial due diligence assistanc e to investors and companies. Our team can help you understand the true value of a target company, structure the deal from both a general business and a tax vantage point. • Commercial Advisory Services. We provide market and commercial advice to help you make the right decisions on strategic direction, whether organic or thru acquisition. These decisions are hinged on a strong understanding of the environment, industry, market, competitor, customer and operations. Our team will work closely with you in evaluating these factors and developing insights into your or your target’s business. • M&A Advisory. We provide strategic insights on transaction candidates and deals. Whether evaluating a buyor sell -side transaction, we can help identify, negotiate, struc ture and close transactions to better connect transaction strategy with business strategy. • Transaction Integration. We help you to ensure the seamless blending of financial, tax, and legal elements of the transaction and help to capture the value identified prior to the acquisition. • Corporate Restructuring. We help companies and investors improve their total expected return in situations of deteriorating performance, growth and transformation. • Non-Performing Loans. We assist the designated NP L resolution team to develop overall resolution strategies.

• Valuation & Business Modeling. We can support senior management decision -making with independent and objective advice relating to M&A, divestitures, restructuring, strategy design and implement ation, financial reporting, litigation and risk management. We can assist in the valuation of businesses, shares, intangible assets, capital equipment, and employee share options for a multitude of purposes. • Project Finance Advisory. We assist clients in pursuing project finance endeavors by providing advice on securing approvals, structuring of the commercial and financial aspects of the transaction, identifying and approaching sources of funds, including the required credit enhancements.

WEBSITE: http://www.sgv.ph/about -us/

SGV & CO. HISTORY SUMMARY