CG MEMORANDUM CIRCULAR NO. 2012-07 :CODE OF CORPORATE GOVERNANCE FOR GOCCsWHEREAS. pursuant to the State declared policy of treating Government-Owned or -Controlled Corporations (GOCCs) as significant tools for economic development and the statutorily-mandated obligation of the State to ensure that the governance of GOCCs is carried out in a transparent responsible and accountable manner and with the utmost degrees of professionalism and effectiveness under governing boards which are compenent to carry out their functions fully accountable to the State as its fiduciaries and always acting for the best interests of the State. the Governance Commission for GOCCs (GCG) in the exercise of its mandate under Section 5(c) of Republic Act No 10149. approved the CODE OF CORPORATE GOVERNANCE FOR GOCCs ("CODE") at its En Banc meeting held on 26 April 2012 for formal submission to the President of the Philippines for His Excellency's approval of what would constitute as an organic document for the GOCC Sector.

Item VIII. DISCLOSURE AND TRANSPARENCY REQUIREMENTS

Section 43. Mandatory Website In accordance with Section 25 of the Act, all GOCCs shall maintain a website and post therein for unrestricted public access:I. Institutional Matters:

a. NIA Charterb. Subsidiaries NIA Consult, Inc.c. Government Corporate Information Sheet (GCIS) CY 2014 CY 2013

II. Board and Officers:

2. Complete listing of the Directors and Officers with attached resume, and their membership in Board Committees2. Compensation Package of Board of Directors and Officers2. March 20152. Information on Board Committees and their activities2. Attendance record of Directors and their committee meetings4. CY 20144. CY 2013

1. Financial and Operational Matters:

3. Latest Annual Audited Financial and Performance Report1. CY 20133. Audited Financial Statements in the immediate past three years2. CY 20132. CY 20122. CY 20113. Quarterly and Annual Reports and Trial Balance3. Balance Sheet1. as of March 31, 20151. as of December 31, 20141. as of September 30, 20141. as of June 30, 20141. as of March 31, 20141. as of December 31, 20131. as of September 30, 20131. as of June 30, 20131. as of March 31, 20133. Income Statement2. as of March 31, 20152. as of December 31, 20142. as of September 30, 20142. as of June 30, 20142. as of March 31, 20142. as of December 31, 20132. as of September 30, 20132. as of June 30, 20132. as of March 31, 20133. Cash Flows3. as of March 31, 20153. as of December 31, 20143. as of September 30, 20143. as of June 30, 20143. as of December 31, 20133. as of June 30, 20133. Trial Balance4. as of March 31, 20154. as of December 31, 20144. as of March 31, 20144. as of December 31, 20133. Current Corporate Operating Budget4. CY 20154. CY 20143. All borrowings (Local and Foreign) guaranteed by the Government5. as of March 31, 20155. as of December 31, 20145. as of September 30, 20145. as of June 30, 20145. as of March 31, 20145. as of December 31, 20133. Government subsidies6. as of March 31, 20156. as of December 31, 20146. as of September 30, 20146. as of June 30, 20146. as of March 31, 20143. Any material risk factors and measures taken to manage such risks3. Performance Evaluation System (PES)8. Annex A (PES Form 1): Interim Performance Scorecard1. CY 20151. CY 20148. Annex B (PES Form 2): Strategic Initiatives Profile2. CY 20152. CY 20148. Annex C (PES Form 3): Monitoring Report of Performance Targets3. as of December 31, 20143. as of October 31, 20143. as of December 31, 2013

1. Governance Matters:

4. Charter Statement: Mission-Vision Statements4. Performance Scorecards and Strategy Map2. Strategy Map2. 2015 Summary of Agreement4. Organizational Chart 4. Manual of Corporate Governance (Note: This Manual is subject to the approval of the GCG)4. Corporate Social Responsibility (CSR) Statement4. Balance Scorecard

1. Other information:

5. No Gift Policy1. MC No. 06, s2009 - Amending MC No. 82, s2007 on the Rules on Gifts and Benefits1. MC No. 82, s2007 - Rules on Gifts and Benefits

Section 46. Other Reportorial Requirements All GOCCs shall also submit periodically in electronic form to the GCG the following:a. Common Form financial statements based on annual audited financial statements within thirty (30) days from receipt of the report; CY 2013 CY 2012b. Dividend Computations and Payments Dividend Computations CY 2013 CY 2012 CY 2011 Dividends Paid March 2015 December 2014 September 2014 June 2014 March 2014c. Cash and Investment Balances as of March 31, 2015 as of December 31, 2014 as of September 30, 2014 as of June 30, 2014 as of March 31, 2014 as of December 31, 2013 as of December 31, 2012 as of December 31, 2011d. Capital Expenditure Program CY 2014 CY 2013e. Statement of Financial Operations CY 2014 Consolidated Income Statementf. Acquisition or Disposition of Assets CY 2014 CY 2013g. Off Balance Sheet transactions (Not Applicable to NIA)h. Reports for the Annual Corporate Budget Physical Status of Irrigation Projects CY 2014 Financial Status of Irrigation Projects CY 2014 CY 2013-Physical and Financial Status CY 2012-Physical and Financial Status CY 2011-Physical and Financial Status Sources and Uses of Funds CY 2015 CY 2014 CY 2013 CY 2012 CY 2011