(NUMBER OF

SHARES)

(PERCENTAGE (%)

OF OWNERSHIP)

(NUMBER OF

SHARES) PAID UP

(PERCENTAGE (%)

OF OWNERSHIP)

(NUMBER OF

SHARES) PAID UP

(PERCENTAGE (%)

OF OWNERSHIP)

CHASE MAKROS MNGT INC 13760 0.688 9000 11% 9000 11%

PEPITO BAES 250 0.0125

VICTOR ELEAZAR 200 0.01

LUISA MA S. BAES 250 0.0125

FRUMENCIO PULGAR 200 0.01 500 1% 500 1%

MUNICIPALITY OF MAJAYJAY 4000 0.20% 4000 5% 4000 5%

ARNIE AVELLANEDA 300 0.015

ARVIN NEIL C. AVELLANEDA 0 3000 4% 3000 4%

FELICISIMA MAAN VELASCO 50 0.0025

VALERIANO INFANTE 50 0.0025

LORNA REBUSA RITO 50 0.0025

LORENZO TAPEL JR 50 0.0025

MARIANO CALIVA 50 0.0025

ARCHIMEDES AGUIRRE 250 0.0125

CARMELITA BAGUD 250 0.0125

GUILLERMO RABUEL 40 0.002

ARSENIO LASIN 250 0.0125

ARMANDO L. DIAZ 7000 9% 7000 9%

AMANDO T. DIAZ 45000 56% 45000 56%

ELSIE SARCILLA MARIANO 2500 3% 2500 3%

RISSE L. DIAZ 9000 11% 9000 11%

TOTAL 20,000 80% 80,000 100% 80,000 100%

ORIGINAL SUBSCRIPTION AS PER

ARTICLES IN INCORPORATION LATEST SEC-GIS FOR 2014 LATEST SEC-GIS FOR 2015

MAJAYJAY HYDRO POWER COMPANY INC