Nyse Phi 2019

CONTENTS
3 Comparative Highlights
4 Consolidated Financial Performance Highlights
5 Message from the Chairman, President and CEO
11 Awards and Recognition
13 Corporate Milestones
16 PLDT Group Corporate Social Responsibility
17 People and Culture
19 PLDT Group Corporate Governance Report
44 Enterprise Risk Management
45 Board of Directors
48 Advisory Board/Committee
49 Executive Officers
51 Top Management Team and Key Advisors
52 Officers
53 Financial Review
96 Audit Committee Report
97 Statement of Management’s Responsibility for
Consolidated Financial Statements
98 Independent Auditor’s Report
104 Consolidated Statements of Financial Position
106 Consolidated Income Statements
107 Consolidated Statements of Comprehensive Income
108 Consolidated Statements of Changes in Equity
109 Consolidated Statements of Cash Flows
111 Notes to Consolidated Financial Statements
287 Contact Information
1 TABLE OF CONTENTS
PLDT is the leading telecommunications and digital services
provider in the Philippines. Through its principal business
segments – fixed line, wireless, digital and others – PLDT offers
the most diversified range of communications and digital services
across the Philippines’ most extensive fiber optic, wireless and
fixed line networks.
PLDT is listed on the Philippine Stock Exchange (PSE:TEL) and
its American Depositary Shares are listed on the New York Stock
Exchange (NYSE:PHI). In 2019, PLDT was one of the largest
Philippine-listed companies in terms of market capitalization.
VISION
Lead and inspire Filipinos to create a better tomorrow.
MISSION
Empower Filipinos everywhere with customer focused digital
innovations that unlock and share their infinite potential.
VALUES
Deliver awesome customer experience
Take care of our people
Collaborate to win
Fast is better than perfect
Malasakit
Humility to listen and learn
SUBSIDIARIES
WIRELESS
Smart Communications, Inc. and Subsidiaries
Digitel Mobile Philippines, Inc.
Smart Broadband, Inc. and Subsidiary
FIXED LINE
PLDT Clark Telecom, Inc.
PLDT Subic Telecom, Inc.
PLDT Global Corporation and Subsidiaries
PLDT-Philcom, Inc. and Subsidiaries
PLDT-Maratel, Inc.
Digital Telecommunications Philippines, Inc.
ePLDT, Inc. and Subsidiaries
Pilipinas Global Network Limited and Subsidiaries
OTHERS
PLDT Communications and Energy Ventures, Inc.
PLDT Digital Investments Pte. Ltd. and Subsidiaries
PLDT Global Investments Holdings, Inc.
PLDT Global Investments Corporation
PLDT 2019 ANNUAL REPORT 2

COMPARATIVE HIGHLIGHTS
Financial Information 20151 20161 20171 20181 2019

(in million pesos, except cash dividends
declared per common share)
Revenues 170,345 164,446 158,933 162,914 169,187
Service revenues 162,172 156,394 150,172 152,369 161,355

Non-service revenues 8,173 8,052 8,761 10,545 7,832
Expenses 138,510 139,743 149,422 149,141 129,786

Selling, general and administrative expenses 70,289 67,196 68,990 73,916 68,230
Depreciation and amortization 31,519 34,455 51,915 47,240 39,656
Cost of sales and services 17,453 18,293 13,633 14,427 13,429
Interconnection costs 9,559 8,757 6,626 5,493 3,638
Asset impairment 5,788 1,074 3,913 2,345 291
Provisions 3,902 9,968 4,345 5,720 4,542
Net income for the year 22,075 20,162 13,466 18,973 22,786
Core income 35,212 27,857 27,668 25,855 25,111
EBITDA 70,218 61,161 66,174 64,027 79,815

Property and Equipment 632,918 665,653 690,520 714,037 715,960
Accumulated depreciation, amortization, 437,136 462,465 503,613 518,073 483,826
and impairment
Carrying value 195,782 203,188 186,907 195,964 232,134
Capital expenditures 43,175 42,825 40,299 58,490 72,871
Short and Long-term debts 160,892 185,032 172,611 176,276 192,556
Net Debt 113,008 143,572 138,632 123,457 167,873
Equity attributable to equity holders of PLDT 113,608 108,175 106,842 112,358 111,987
Cash dividends declared per common 122 77 76 72 75

share out of the earnings for the year
Operating information
Number of mobile subscribers 68,612,118 62,763,209 58,293,908 60,499,017 73,118,155

Number of fixed line subscribers 2,303,454 2,438,473 2,663,210 2,710,972 2,765,209
Number of broadband subscribers 1,514,640 1,720,753 1,950,881 2,025,563 2,161,484

Fixed Wireless 258,776 270,203 237,354 213,526 230,151
Fixed Line 1,255,864 1,450,550 1,713,527 1,812,037 1,931,333
Total number of subscribers 72,430,212 66,922,435 62,907,999 65,235,552 78,044,848
Number of stockholders 11,837 11,774 11,712 11,658 11,596
Number of employees: 17,176 18,038 17,779 17,222 18,784

Wireless 7,505 7,343 7,042 6,332 5,907
Fixed Line 9,761 10,695 10,737 10,890 12,877
1 Certain comparative information for 2015 to 2018 were reclassified to conform with 2019 presentation
3 COMPARATIVE HIGHLIGHTS
CONSOLIDATED FINANCIAL
PERFORMANCE HIGHLIGHTS
2019 88.3 73.1 161.4 2019 73.1 2.8 2.1 78.0
2018 80.3 71.0 1.1 152.4 2018 60.5 2.7 2.0 65.2
2017 86.2 62.8 1.2 150.2 2017 58.3 2.7 1.9 62.9
2016 98.4 57.3 0.7 156.4 2016 62.8 2.4 1.7 66.9
2015 108.2 53.0 1.0 162.2 2015 68.6 2.3 1.5 72.4
0 20 40 60 80 100 120 140 160 170 0 10 20 30 40 50 60 70 80
SERVICE REVENUES SUBSCRIBER BASE

( in billion pesos ) ( in million )
WIRELESS FIXED LINE OTHERS MOBILE FIXED LINE BROADBAND
2019 79.8 2019 69.4
2018 64.0 2018 61.1
2017 66.2 2017 56.1
2016 61.2 2016 49.0
2015 70.2 2015 69.7
0 10 20 30 40 50 60 70 80 0 10 20 30 40 50 60 70 80
EBITDA CASH FLOW FROM

( in billion pesos ) OPERATIONS
( in billion pesos )
2019 25.1 2019 213.5
2018 25.9 2018 243.1
2017 27.7 2017 319.8
2016 27.9 2016 294.9
2015 35.2 2015 445.1
0 5 10 15 20 25 30 35 40 0 100 200 300 400 500 600
CORE INCOME MARKET

( in billion pesos ) CAPITALIZATION
( Year-end in billion pesos )
CONSOLIDATED FINANCIAL PERFORMANCE HIGHLIGHTS 4

TO MY FELLOW
MESSAGE SHAREHOLDERS
OF THE
We are submitting this Report to you under
the most extraordinary circumstances. As this
goes to press, the country – indeed, the entire
CHAIRMAN, planet – is going through an unprecedented

health crisis courtesy of a novel corona virus
PRESIDENT
now known by everyone as COVID-19.
This pandemic is taking a rising toll – not only
AND CEO in terms of lives lost but also in the economic

damage it is inflicting – as it sweeps through
countries all over the world.
With much of the Philippines under some

kind of quarantine, the circumstances that
our Company now operates have vastly
departed from the normal.
From this perspective, many might regard this

Report as being outdated, rendered academic
by fast-moving events. I would argue to the
contrary. This Report still serves a valuable
purpose: not because it paints a rosy picture
of the past year but because it gives us a
sense of what we have accomplished in 2019
– accomplishments which have placed us in a
better position to weather the current COVID
crisis, and further advance the business
moving forward.
Our Own Build,

Build, Build
The PLDT story for 2019 was dominated by our
continuing efforts to expand, modernize and
future-proof our network and IT infrastructure.
This fact is highlighted by a single number – our
capital expenditures – which reached a record
Php72.9 billion. This brings our capex for the
past five years to Php257.7 billion. Indeed, this is
our own version of Government’s Build, Build,
Build.
We have pursued this aggressive tack not only

to address current business requirements – such
as the fast-rising demand for data and digital
services – but also to prepare for emerging new
technologies such as 5G, the Internet of Things
(IoT), Artificial Intelligence (AI) and other
upcoming game-changers.
The good news is these hefty investments in our

network and IT infrastructure have produced
quick returns. In 2019, PLDT’s consolidated
service revenues (net of interconnection costs)
grew by 8% to Php157.7 billion. This is the
highest full year revenue ever posted by PLDT in
the 91 year history, overtaking the previous high
of Php153.5 billion set in 2014.
5 MESSAGE FROM THE CHAIRMAN AND CEO

Sustaining the trend of recent years, this PLDT has, for many years, maintained its
encouraging rise in revenues was powered international credit ratings at investment grade.
largely by data and broadband services, which
increased by 20% to Php105.2 billion and now A final cash dividend of Php39 was paid out on
comprises 67% of total revenues – a new high. April 3, 2020 to shareholders of record as of
March 19, 2020. This brought total dividends
Consolidated EBITDA rose by 22% to Php83.1 paid for 2019 to Php75 per share.
billion (excluding exceptional Manpower
Reduction Program costs), driven by higher
service revenues and lower cash operating
expenses. EBITDA margin stepped up to 52%
WFH: The COVID effect
from 45% in 2019. The value of our 2019 operating results may have
been obscured by the uncertainties of 2020
Our Telco core Income (before the impact of because of the pandemic. But if we look closer,
assets sales and the results of Voyager the underlying significance of what we have
Innovation) increased by 13% to Php27.1 billion. done last year is shining through the gloom of
Reported Net Income (including exceptional this ongoing endemic disease.
costs) climbed to Php22.5 billion, up 19%.
If anything, life under lockdown has made data
The Consumer Wireless Group set the pace, connectivity and digital solutions even more
among our major business groups, growing indispensable for families, homes, businesses
revenues by 20% to Php72.1 billion. The and communities than ever before. Forced to
Enterprise Group registered steady growth, up stay at home, people rely on the internet to
5% to Php39.2 billion, while Home increased work, study, keep informed and stay in touch
revenues by 3% to Php37.2 billion. Taken with family, friends, and business colleagues.
together, these three business groups increased
revenues by 11%, and accounted for 94% of This has compelled many people to go through
service revenues. crash courses on how to use online collaboration
tools and digital payment apps; how to conduct
As of end-2019, our Consolidated Net Debt virtual classrooms, online medical consultations
totaled US$3,309 million while net-debt-to- and even e-parties. The Philippines that will
EBITDA was 2.0x. Gross Debt stood at emerge from this crisis will be much more
US$3,800 million with maturities well spread digital than it was pre-COVID.
out. Only 9% of the Gross Debt was denominated
in US dollars, and 8% of debts are unhedged.
Throughout all this turmoil, PLDT has led the way government agencies, local governments and
in keeping Filipinos connected. When the non-governmental organizations at the
community quarantine was imposed in March frontlines of the country’s fight against the
2020, PLDT Home provided its Fibr customers COVID-19 pandemic.
in Greater Manila Area a speed boost that raised
its lowest data speed on fiber to 25 Mbps. Smart
provided heftier data allocations for its mobile
phone customers and provided free access to
The Fastest and
vital information sources such as the online the Widest Networks
COVID information portals of various government
All these initiatives were possible because of the
agencies, led by the health department and
major improvements in our network and IT
websites of leading news organizations. Our
infrastructure done in 2019. PLDT extended the
Enterprise Group took the lead in providing
reach of its fixed broadband network by 15%,
communications support for a host of
covering 7.2 million homes passed. Total fiber-
powered broadband capacity grew by 34% to
3.5 million ports, of which about 1.8 million
Fiber/VVDSL ports were available for new
customers.
The total footprint of PLDT’s fiber optic network

“The value of our 2019 operating grew by a third to 322,400 kilometers – by far,
results may have been obscured the most extensive digital transport network in
the country. Smart’s mobile phone network also
by the uncertainties of 2020 further expanded its reach and capacity. It
because of the pandemic. But if boosted the number of its LTE or 4G base
stations by half to about 24,600 base stations.
we look closer, the underlying Smart also increased the number of its 3G base
significance of what we have stations by nearly one-fifth to 13,800 base
stations. By end-2019, 94% of the Philippine
done last year is shining through population was covered by Smart’s combined
the gloom of this ongoing 4G and 3G mobile data network.
endemic disease.”
All these network enhancements have further
improved the customer experience of our fixed
and mobile data services. The anecdotal

experience of people – that the quality of our The revenue growth was driven by the massive
data services have been progressively getting leap in data usage. Mobile data traffic soared to
better -- has been repeatedly confirmed by 1.6 Exabytes – twice the volume in 2018 and four
user-based studies conducted by leading times that of 2017. Data usage was powered by
international internet testing and analysis firms mobile video viewing – initially of Youtube and
like Ookla, umlaut, and Opensignal. then later other popular video services and
online games.
For example, Ookla cited PLDT and Smart for
having the fastest fixed network and the fastest In 2019, under the banner of its GIGA data
mobile network, respectively in its two reports packages, Smart expanded its offers to include
covering the first and second halves of 2019. popular games like Mobile Legends and then
Opensignal found that Smart provided the later mainstream social apps like Facebook,
country’s best mobile video and fastest data Instagram and Tiktok. Moving forward in 2020,
experience. Moreover, it found that in 2019 the GIGA data package is becoming the
Smart overtook its competitor in 4G availability platform for an increasingly rich range of
in both urban and rural areas. In short, Smart relevant digital services for Filipinos.
has the fastest and largest 4G network in the
country. Interestingly, towards March-end 2020, Smart’s
share of the volume of Facebook traffic in the
Meantime, we have taken steady steps forward Philippines surpassed that of its competitor.
in deploying 5G. Smart activated 5G base
stations in various test locations. These included The growth of our Enterprise Business has also
the Makati business district, the Quezon City been anchored on the strong growth of revenues
campus of Ateneo de Manila University, the from broadband data which accounted for about
commercial and entertainment district that is 67% of total Enterprise revenues in 2019,
the Araneta City in Quezon City and in the amounting to Php39.2 billion.
smart city setting of Clark City in Pampanga
province. But the fastest growth rate was posted by ICT
business of the Enterprise Group at 14%. This
Alongside this, PLDT is transforming its cluster of services – data centers, Internet of
transport network into a fully-automated, all IP, Things, Cloud and Cyber Security -- grew at
software-defined, 5G-ready infrastructure in nearly twice the market pace. This is the focus
partnership with the leading U.S. firm Cisco. of the Enterprise Group in building its future.
This TNT –Transport Network Transformation – That is because as more companies go digital the
will be extensive, and significant in capex terms. need for business solutions beyond connectivity
We have also been exploring various use cases will become a matter of survival.
– initially enterprise-driven applications such as
workplace automation and later consumer PLDT Home posted modest growth of 3% with
applications such as entertainment, mobile revenues of Php37.2 billion as it grappled with
games and e-sports. adjustments to its installation and repair
processes for fixed line broadband. By the last
On reflection, we are fortunate indeed to have quarter of 2019, these efforts had begun to pay
spent so much on our Network capex these off as the rate of new connects and repairs
past five years – the strength of our Networks, went up.
its robustness, resiliency, and coverage – are
serving us well during the crisis.
The Wireless Renaissance “In 2019, we set up the PLDT

The biggest beneficiary of the improved data Sustainability Office and gave it
networks of PLDT and Smart has been our
mobile phone business. Taking advantage of the task of helping develop the
our improved mobile data network, our Group’s business operations and
Consumer Wireless Group moved aggressively
to offer compelling data products to our corporate social responsibility
customers. The upswing of our wireless services, (CSR) activities in ways that
which began to be felt in the second of half of
2018, continued throughout 2019. The result would help create a sustainable
was the full-blown resurgence of our wireless future for both our company
business. Revenues of the Consumer Wireless
Group jumped by 20% to Php72.1 billion in 2019. and our country.”
The share of mobile data revenues grew from
60% to 69%.

Moreover, its portfolio of services was several initial programs such as the carbon
strengthened by the introduction in late 2019 of offsetting initiatives through reforestation,
a recharged fixed wireless service, initially for mangroves conservation, marine protection and
prepaid. Riding on Smart’s LTE network, PLDT peatlands protection.
Home’s fixed wireless offering provided a
strong complement to its leading product – These activities are being done in partnership
fiber-powered fixed broadband. with the University of the Philippines Marine
Environment and Resources Foundation
(MERF) and the Marine Science Institute of the
Philippines (UPMSI). The objective is to support
Stepping up efforts to rehabilitate 24 marine protected areas
Sustainability Efforts in different parts of the country by helping local
One of the more instructive ironies of the communities to manage the coastal and marine
COVID-19 pandemic has been its beneficial environment in their areas.
impact on the environment. The air in the
country’s major cities has become cleaner and PLDT’s sustainability program is thus providing a
healthier because the quarantine has taken larger framework for its long-running CSR
planes out of the skies, and cars, buses, tricycles programs in the fields of education,
out of the streets. This paradox provides an environmental protection, disaster preparedness,
unexpected backdrop for the stepped-up livelihood and sports development.
efforts of PLDT and Smart to contribute to the
sustainable development of the country.
Outlook
In 2019, we set up the PLDT Sustainability
Office and gave it the task of helping develop We are currently updating our business and
the Group’s business operations and corporate financial targets for 2020 – which were set late
social responsibility (CSR) activities in ways that last year. Given how the COVID-19 pandemic has
would help create a sustainable future for both reshuffled the business deck for this year’s
our company and our country. economic prospects, it is clear that adjustments
to our budget need to be made. For example,
As a result, we have already started to roll out capex for 2020, which had been set at a record-

breaking Php83 billion, will probably be scaled this crisis, so we can rebuild a better PLDT and
back considering the expected delay in network Smart.
roll-out activities due to quarantine restrictions
on movement of materials and people.
We are confident that this is the best way
forward: Focus on serving our customers and
However, these uncertainties are no reason for helping our country. In this way, we shall
hesitation or, worse, inaction. The challenges emerge from this crisis a better, more effective
created by the public health emergency compels and compassionate organization.
us to go back to basics. We need to focus on
the fundamentals – not only of our business
goals but also of our responsibilities as I wish to thank once more our shareholders for
corporate citizens of this country. their constant support, our Board of Directors
for their counsel and guidance, our Management
and Staff for their unstinting efforts to make
Our mission is clear. PLDT and Smart must work our Company a sustainable and socially
as ONE: responsible organization. I am confident that
we stay united and resolute, we will overcome
• To keep Filipinos connected despite the the COVID-19 pandemic, and move forward to a
difficult operational constraints imposed more healthy and prosperous digital future.
by the pandemic
• To equip the frontline agencies and

their personnel with innovative
communications and digital services so
that they can effectively perform their
critical function
• To provide affected communities with

humanitarian assistance
Manuel V. Pangilinan
Chairman of the Board, President and
To do all this, we need to take care first of our Chief Executive Officer
people, particularly our frontliners – our field
personnel in the networks, installs and repairs,
and our sales groups. This is critical because
our people – those who are working in the field
and from home -- are key to overcoming the
challenges we face. And we must learn from
“We are confident that this is the best way forward: Focus
on serving our customers and helping our country. In this
way, we shall emerge from this crisis a better, more
effective and compassionate organization.”

PLDT Group 2019 Awards
AWARDS AND RECOGNITION
OOKLA
• Fastest Fixed and Mobile Networks for Q1-Q2 2019
• Fastest Fixed and Mobile Networks for 2018
OPENSIGNAL
• Winner (March and September 2019 Mobile Experience Awards):
- Video Experience
- Download Speed Experience
- Upload Speed Experience
- Latency Experience
TUTELA
• Leader in Network Consistent Quality
(Southeast Asia State of Mobile Networks Feb 2019)
UMLAUT
• Best in Test Award 2019
• Best Rated Coverage for 4G
• Best Rated User Upload Speed
• Best Rated User Download Speed
• Best Network Performance during 30th SEA Games
CMO ASIA AWARDS

• Best CSR Practices – Gabay Guro
• CFO of the Year – June Cheryl Cabal – Revilla
• One of Asia's Women Leaders - June Cheryl Cabal - Revilla
• One of Asia’s Women Leaders – Katrina Luna Abelarde
• Digital Marketer of the Year – Carlo Ople
• Excellence in Business Leadership – Oscar Enrico Reyes
• Lifetime Achievement Award for Public Relations – Ramon Isberto
• Asia’s Best Brand Award – Smart (for the consolidated CMO recognitions)
• Most Innovative HR Practice - Smart Super IDs
• Best Strategic PR campaign – Smart Music Live
• Best Innovative Partnership Strategy – Youtube collaboration
• Campaign of the Year – Smart Free Youtube Every day
• Best LTE Provider – Smart LTE
• Market Leadership – PLDT Home
• Best Broadband Service Provider – PLDT Home
PHILIPPINE LEADERSHIP AWARDS

• CFO of the Year (Telecoms Sector) – June Cheryl Cabal – Revilla
TELECOM ASIA AWARDS

• Asia’s most innovative voice solutions –
PLDT Global’s Free Bee mobile app
ASIA CEO AWARDS

• Most Innovative Company of the Year – PayMaya
2019 MEF AWARDS

• Retail Service Provider of the Year – PLDT Enterprise
• Wholesale Service Provider of the Year – PLDT Enterprise
• Network & Service Innovation Awards – PLDT Enterprise
11 AWARDS AND RECOGNITION

PRSP’S 54TH ANVIL AWARDS
• Company of the Year – PLDT
• Gold Anvils
- #VoxNow
- The Rocketeer Project
- MVP Geek Olympics
- L&D On the Road
- Handle with CARE (campaign on data privacy)
- Voyager Innovations’ FINTQ Inclusive Digital Finance Report
• Silver Anvils
- Cybersecurity campaigns
- PLDT Enterprise Kick Off
- PLDT Global’s e-Grade
- PLDT Infoteach Outreach Program
- Smart’s Kultoura Digital Tourism
- Smart’s School-in-a-bag
- Smart’s Millenniors program
- Smart’s LTE Nation
- Smart Communities
- #LearnSmart
- TNT Tropang Ready: Disaster Preparedness caravan (Smart)
- TNT Tropa Trip Music Fest (Smart)
- Voyager Innovations’ PayMaya #ShareTheLove Christmas campaign
- Voyager Innovations’ PayMaya “Cashless Ecosystems” campaign
- Voyager Innovations’ Paymaya iAFFORD Project
- Voyager Innovations’ KasamaKa Caravans
- Voyager Innovations’ FINTQ Disruptors’ Ball
- Voyager Innovations’ Freenet’s Freeniversaya Concert
I/ABC’S 17TH PHILIPPINE QUILL AWARDS

• Company of the Year 1st Runner Up – Smart Communications
• Excellence Awards
- PLDT Enterprise’s Philippine Digital Convention 2018
- PLDT Enterprise HOT JOE Online
- Smart Ka-Partner Rewards Program
- Smart Millenniors Across the Nation
- Smart Communities program
- Smart LTE Nation
- Smart Free YouTube Every Day Campaign
- LearnSmart - Supporting Literacy through Mother Tongue-Based Apps
- TNT Tropang Ready Batch 2 Disaster Preparedness for the Youth
- TNT Free YouTube Campaign
- TNT Gigasurf50 Summer Campaign
- TNT SurfSaya Campaign
• Merit Awards
- PLDT At Your Service
- PLDT Enterprise Beyond Satisfaction
- PLDT Global 12/12 Free Bee Day
- PLDT Global Free Bee e-Grad Project
- PLDT Group Data Privacy Office - Handle With Care Campaign
- Smart Data Roaming Manager "Roam Fast, Roam Easy" campaign
- Smart Communities Facebook page
- Sun Prepaid Para Nimo Cebu
- TNT Tropa Trip Summer Music Fest
- Travel Smart with Kultoura

CORPORATE MILESTONES
In their relentless endeavors to deliver the best quality
service to customers, PLDT and Smart continued to
strengthen their network advantage, with PLDT expanding
its fixed network rollout by 15% to reach 7.2 million homes
passed by end-2019 as Smart’s mobile coverage expanded
to 94% of the country’s population. Upholding its industry
leadership with the most extensive digital backbone and
transport network infrastructure, PLDT’s fiber optic network
grew 32% to 322,400 kilometers. These network improvement
efforts have enabled PLDT and Smart to offer compelling
services that enable customers to experience meaningful
connections in a fast-changing digital world.
Soaring Number of professional e-sports team, compete for exciting prizes.

PLDT-Smart Omega.
Customers Experience the Bringing subscribers closer to their
Fastest Mobile Internet In May, Smart launched Signature favorite artists, Smart invited the
Last year, more Smart customers Plans to usher in a reimagined Australian pop sensation Troye
used LTE and mobile data, leading postpaid experience that shatters Sivan in May, English indie pop rock
to the exponential increase in mobile the limitations of the traditional band The 1975 in September, and
internet traffic on the Smart network plans to deliver a prioritized, finishing the year with the Smart’s
which reached 1.6 exabytes, twice worry-free, and in-control mobile biggest concert yet— the iconic
as large as the volume recorded experience. Endorsed by Miss Irish rock band U2.
from the previous year. Universe 2018 Catriona Gray, Smart
Signature Plans offer a prioritized
Smart increased its LTE base station network experience, generous
count to more than 24,600 in 2019 open-data allocations, unlimited Pioneering Technologies for
as PLDT expanded its fiber optic calls and texts, data rollover and
enhanced customer service features Enterprises
network nationwide to 322,400
kilometers of fiber cables. This is to for a worry-free mobile lifestyle. PLDT Enterprise has maintained its
support customers’ increasing stance as the market leader for the
appetite for data, particularly for To democratize access to data b2b segment in 2019, focusing on
video and mobile gaming. services, including top mobile empowering enterprises of all sizes
PLDT-Smart's superior network has applications such as YouTube, to take on the fourth industrial
been recognized by independent Instagram, Facebook and TikTok, revolution through pioneering
third-party surveys. The latest Smart introduced Smart Free technologies and practices.
report from mobile data analytics YouTube For All in June, giving
firm Opensignal cited Smart for subscribers at least 1GB or 1 hour of Among the group’s key initiatives
providing the country's Best Video free access to YouTube every day was the steady migration of its
Experience, Download Speed with every registration to prepaid customers’ operations to the cloud,
Experience, Upload Speed promos by dialing *123# - Smart's enabling more enterprises to begin
Experience and Latency Experience, new USSD menu. Smart positioned their digital transformation journey.
while Ookla, the global leader in this as a means to bring subscribers Such move was complemented by
internet testing and analysis, also closer to their passions by watching the premiere launch of Azure Stack
found that PLDT and Smart delivered informative and inspiring videos on in the Philippines— Microsoft’s
the country's fastest fixed and mobile the world's largest video-sharing hybrid cloud computing software
data speeds for the first half of 2019. platform. solution through ePLDT, its digital
Armed with both fixed and wireless services arm.
infrastructure powered by the Free IG+FB For All, on the other
country’s most extensive fiber hand was launched in November to ePLDT was selected as the premier
network, PLDT-Smart are best give Smart Prepaid and TNT service provider to offer Microsoft
positioned to deploy 5G in the subscribers FREE 1GB access to Azure locally. The cloud service is
country. Instagram and Facebook (IG+FB) now hosted on ePLDT’s on-premise
with every registration to select infrastructure through its VITRO
Complementing this network rollout promos. With FREE IG+FB For All, Data Center. Subscribers of the
is Smart’s nationwide deployment subscribers enjoy worry-free access service now have the liberty to
of fiber-powered, carrier-grade to IG and FB to bond and keep up choose where they will run their
Smart WiFi, particularly in heavy with their friends and loved ones on cloud applications on, ensuring the
foot-traffic areas like government the world's top social media apps. security of data in a center that is
offices, city and provincial halls, ascertained to be compliant with
tertiary schools and transportation In October 2019, Smart launched the country’s regulatory laws on
hubs like seaports, airports and bus the Gigafy Your Love campaign to data and privacy.
ports, among others. Recently, feature three enhanced Giga Promos
PLDT-Smart has signed agreements that cater to the different passion For the fifth iteration of its Philippine
with the City of Manila, Iloilo, Lapu- points of customers - Giga Videos, Digital Convention, PLDT Enterprise
Lapu City, San Juan, Baguio, Cagayan Giga Stories, and Giga Games. Each flew in globally renowned keynote
de Oro, Land Transportation Office, promo curates all the top applications speaker and digital expert, Erik
and Intramuros Administration, that subscribers use making it “Equalman” Qualman as the headline
among others, to deploy Smart simpler for them to spend more speaker for the event’s plenary
WiFi in their areas. quality time with the things they session—attracting nearly 3,000
love to do on mobile. delegates to the two-day convention.
PLDT and Smart have been actively The group also elevated its
supporting the Philippine esports In November, Smart kicked off Smart technology exhibit with an immersive
scene. During the 30th SEA Games, Siklab Saya, a nationwide gathering Digital Grounds tour that showcased
PLDT-Smart partnered with the and tournament for Mobile Legends: the evolution of technology, further
Philippine national esports team Sibol Bang Bang. With Php20 million underscoring PLDT Enterprise’s
and put up cash incentives for Sibol worth of prizes up for grabs, the being at the forefront of digital
athletes and their coaches and various legs of Siklab Saya around transformation.
managers for every gold medal won. the country gathered thousands of
It also launched the country's first gamers and fans to celebrate the Together with PLDT Clarktel, ePLDT
franchise-based e-sports league mobile arena game, test their skills officially launched the first
The Nationals, and launched their with other aspiring pros, and stand-alone disaster recovery (DR)
13 CORPORATE MILESTONES
facility in North Luzon with the Ushering in the Latest
VITRO Clark DR Site, to service
Philippine enterprises. Strategically Digital Home Lifestyle
located beside the VITRO Clark PLDT rolled out its biggest free
Data Center, the site is the country’s speed upgrades for its Home Fibr
largest DR facility to date, with an subscribers. These special upgrades
expansive 6,909 sqm floor area. boosted speeds of subscribers up
Through this facility, the ePLDT to twice the speed of their current
Group promises to support the plan.
business continuity efforts of
enterprises in the country, offering The speed boost is meant to
services such as data backup and empower the increasing digital
alternative office spaces. The lifestyle of Filipino families, enabling
launch of the site works in fulfilment subscribers to enjoy unlimited,
of the PLDT group’s mission of uninterrupted video streaming,
nation-building. lag-free gaming, and seamless
browsing at home.
PLDT Enterprise closed off 2019 PLDT and Smart revved up their
with a bang as it flew in Grammy- esports program in 2019 as they
award winning singer Michael launched their official professional
Bolton for an exclusive one-night esports team called 'Omega.' Formed
concert for its latest iteration of the of mission-critical data assets through in partnership with professional
Pasasalamat Night Manila, marking global-class data center services, esports management Sterling Global
the celebration as its grandest and enablement of agility and lower total Dragons, 'Omega' represented PLDT
most ambitious event to date. cost of ownership through managed, and Smart in the much anticipated
Bolton serenaded over 2,000 hybrid, & end-to-end cloud services, The Nationals, the country's first
guests, composed of c-level mitigation of increasing cyber threats franchise-based esports league.
executives, key decision makers, through a class-on-its-own cyber
and industry leaders, in an intimate security portfolio, and the holistic Continuing its support for world-
concert of his beloved hits and management of information class Sports events, PLDT Home
classics. technology systems via full- powered the biggest international
spectrum managed IT services. competitions and eSports
In support of the 30th Southeast conventions in the Philippines such
Asian Games, PLDT Enterprise put ePLDT, Inc. continues to fortify its as the Southeast Asian Games
together a special 5G showcase at capabilities and leadership in the (SEAGames) and the Esports and
the country’s first Smart 5G Stadium local data center space through the Gaming Summit (ESGS).
City in New Clark City—demonstrating transformation of its first purpose- An all-new PLDT Home Fam Cam,
the new applications made possible built data center in the Philippines— the leading telco’s home monitoring
by fifth-generation mobile technology VITRO Pasig. The three-year system, was launched with two new
or 5G. Among the use cases transformation project will optimize models, the all-new Basic Fam Cam
presented at the New Clark City VITRO Pasig’s support infrastructure and the upgraded Advanced Fam
Commercial Center were 4K AI facility in order to generate more Cam, equipped with more advanced
cameras and 360-degree/virtual power capacity which will enable the features in its visual coverage,
reality livestreaming, enhanced facility to accommodate and host motion and sound detection, and
mobile broadband experience using more application requirements of its high-definition (HD) quality images.
5G mobile phones and fixed wireless customers. Moreover, this will also
devices, cloud gaming, mixed elevate the data center’s operational In 2019, PLDT Home strengthened
reality/augmented reality and technological capabilities its partnership with global content
experiences, 5G-enabled robotics, towards world-class service providers to provide subscribers
and ultra-high definition livestreaming excellence, further strengthening with convenient access to
via 8K LED panels. ePLDT’s leadership position in the world-class content from global
data center business. entertainment partners including
ePLDT maintained its spot as the Southeast Asia’s internet TV service
top service provider of best-in-class provider iflix, U.S.-based internet TV
cyber security solutions, being the pioneer Netflix, Philippine’s pay TV
first DNSSEC-compliant provider of service provider Cignal, YouTube,
DNS Security in the country. DNSSEC ABS-CBN’s iWant, and over 100
or DNS Security Extensions provides free streaming channels.
an additional level of security to PLDT Home also partnered with the
ensure that DNS information was National Basketball Association
not modified. Such solutions ensures (NBA) for a multiyear venture that
that one’s DNS infrastructure is no made select offerings of NBA
longer vulnerable to common attacks League Pass, the league’s premium
such as DNS cache poisoning or live game subscription service,
denial of service. available to more than 62 million
PLDT Home and Smart subscribers
Expanding its ICT services offerings in the Philippines.
for local businesses and enterprises,
ePLDT’s comprehensive suite of
solutions now include the protection
Uplifting the Global Banking on Cashless Science and Technology (DOST),
(PSA), and the local government of
Filipinos
for
All the Philippine Statistics Authority
In the continuous effort to uplift PayMaya made significant strides in (PSA), and the local government of
and empower the Global Filipinos, spurring cashless adoption in the Valenzuela City, among many other
PLDT Global (PGC) has engaged in Philippines through its various cities.
various activities including the 121st "Cashless for All" initiatives, in support
Philippine Independence Day with of the government’s goal of increasing Strategic partnerships were also
Global Filipinos in Singapore, Hong the volume of electronic payment formed with the University of the
Kong, and Taiwan, as well as the transactions in the country to 30% Philippines, Isabela Province, Manila
2019 Philippine Association of Hong by the year 2020. City, Mandaluyong City, as well as
Kong’s Annual Independence Day Quezon City, to equip key constituents
Charity Ball. On the enterprise side, PayMaya is such as students, farmers, senior
the biggest online acquirer in the citizens, single parents, and persons
PLDT Global also co-hosted the country, processing 40% of all card with disabilities (PWDs) with a 2-in-1
15th Asian Carriers Conference in transactions for eCommerce in the ID and payment card powered by
Cebu with the theme "Stronger Philippines. It continues to enable PayMaya, where they can easily
Partnerships, Shared Success," the largest food, grocery, retail, travel, receive their allowances and benefits
gathering over 1,000 delegates from service, and gas merchants to accept from these institutions. Through its
more than 200 partner companies all kinds of card as well as PayMaya PayMaya app and wallet, it is
and highlighting the importance of - whether online or face-to-face. providing millions of Filipinos with
collaboration and synergy among Similarly, PayMaya has accelerated its the fastest way to own a financial
industry players amid constant efforts to empower key government account with over 40,000 Add
technological disruptions. agencies and local government units Money touchpoints nationwide,
with digital payment solutions to more than double the total number
PGC's leading advertising-based easily collect fees or contributions of traditional bank branches in the
VoIP mobile application is a from the public as part of their digital Philippines combined.
product that strives to empower transformation efforts. It has enabled
Overseas Filipinos to protect and over 30 government units and To help bridge the unbanked and
preserve their family bonds despite agencies with digital payments and underserved to the digital economy,
geographical distance by delivering disbursement services. Some of these PayMaya has transformed its Smart
high-quality calls to loved ones who agencies include the Social Security Padala partner agent touchpoints
may not have 24/7 access to System (SSS), the Home into digital financial hubs, providing
high-speed internet for free. Development Mutual Fund critical last-mile digital financial
(PAG-IBIG), PhilHealth, the services to grassroots communities
Since its launch in 2018, Free Bee Department of Trade and Industry through neighborhood sarisari
has quickly grown to a registered (DTI), the Bureau of Internal Revenue stores. With its widest network of
database of over 1 million Filipinos (BIR), the Professional Regulation over 30,000 partner agents
from over 200 hundred countries. Commission (PRC), the National nationwide, processing bills payment
The rapid adoption rate is a Home Mortgage Finance Corporation as well as selling of digital goods, on
testament to Free Bee's continuous (NHMFC), the Department of top of remittance.
efforts to improve the way OFWs
stay connected, consume media,
and participate in ecommerce and
digital payments. All these combine
to provide an even more potent
ecosystem for brands and
businesses to tap into the potential
of the overseas Filipino market
through advertising, content and
commerce.
In 2019, Free Bee was recognized

as Asia's Most Innovative Voice
Solution by Telecom Asia.
15 CORPORATE MILESTONES
PLDT Group Learn more about the PLDT
Group’s extensive Corporate
CORPORATE SOCIAL
Social Responsibility programs
in the PLDT 2019 Sustainability
Report:
RESPONSIBILITY
In 2019, the PLDT Group continued to transform lives as it reached out to
thousands of families and communities across the country. As the Group creates
ripples of change, its Corporate Social Responsibility (CSR) programs are
anchored on various pillars, including education, disaster preparedness, sustainability,
healthcare and livelihood. These CSR programs aim to strengthen the Group’s
relations among grassroots communities and government agencies. It fortifies
. nation-building as it provides countless opportunities to Filipinos nationwide.
UPLIFTING THE QUALITY OF PROMOTING SUSTAINABILITY

EDUCATION • In 2019, the PLDT Group institutionalized its Sustainability
Office and launched Gabay Kalikasan. The program
• PLDT’s flagship educational program PLDT Infoteach
represents all of PLDT-Smart's initiatives under
Outreach Program has produced over 32,000 teacher
environmental stewardship, which is among the
and student graduates since 2004.
company's seven sustainability pillars.
• Over 60,000 teachers trained and 1,770 scholarships
• Sustainability unit reps and resource speakers conducted
granted under Gabay Guro.
a comprehensive training for PLDT-Smart employees
• Reached over 60,000 students and trained more than
aimed at instilling different sustainability pillars across all
2,000 teachers with over 200 Smart School-in-a-Bag
business groups.
units deployed by its 3rd year.
• The short film “Sustainability is You” was released to
• PLDT-Smart Foundation (PSF) extended educational
encourage all Filipinos about making better choices for
assistance to over 500 children of PNP personnel
tomorrow.
injured/killed in service.
• Renowned environmental artist AG Sano and employee
• PSF donated 12,723 Sack-of-Joy bags with school supplies
volunteers painted the PLDT Makati General Office with
since 2018.
over 3,000 square feet of plant and animal life for a mural
• Launched 10 GSMA-nominated LearnSmart mother tongue
dubbed as "SmART for Nature".
-based literacy apps as of end-2019 in collaboration with
• Employee winners from the 1st MVP Geek Olympics
the academe, government, and community partners
Winners unveiled the #SmartPlanet Phone Recycling Bin
nationwide.
for the proper disposal of old mobile devices. The same
homegrown team also developed the #SmartPlanet PET
Bottle and Can Recycling Machine. Both send out free
airtime load in exchange for disposed items for recycling.
• Connected Mangroves was showcased in GSMA’s Case for
Change, an initiative that features the international
mobile industry’s contribution to achieve the UN SDGs.
• PLDT’s TELEpuno Project, in partnership with PBSP,
planted over 3,750 seedlings in 2019.
• On the 10th anniversary of Ondoy, PLDT, Smart, and PSF
representatives planted a total of 10,000 native seedlings
during the simultaneous planting activities in Marikina
Watershed, Talavera Watershed, Central Cebu Protected
Landscape, and Buayan, General Santos City.
• Over 1.5M trees planted by Smart in 53 sites nationwide
STRENGTHENING DISASTER since 2004.
RESILIENCE AND PREPAREDNESS • Before the end of 2019, the Company released a memo on
• PLDT provided internet connectivity and free landline the ban of single-use plastics in all PLDT Group
calls, while Smart offered libreng tawag and charging, establishments nationwide.
satellite emergency communications support, LTE pocket • The Sustainability Unit began baselining of GHG emissions
Wi-Fis, and mobile phone load to responders and affected to pursue carbon neutrality for PLDT Group.
residents. • Eco-friendly bags were produced by sewers through the
• PLDT, in partnership with the Philippine Business for Social help of PLDT in partnership with PBSP. These ecobags
Progress, donated relief goods to the earthquake victims at were used in various CSR programs of PLDT.
Brgy. Batasan, Makilala, North Cotabato as well as to families • PLDT’s ongoing partnership with the Community Crafts
affected by Typhoons Quiel, Ramon and Tisoy in Brgy. Bagu, Association of the Philippines, Inc. (CCAP) included
Pamplona, Cagayan and Brgy. Caroan, Gonzaga, Cagayan. support for fair trade sponsorships, workshops, and
• PLDT conducted relief efforts in Porac, Pampanga including trainings.
feeding program partnership with Alagang Kapatid • PLDT turned over the Conservation Sewmates Production
Foundation. and Multi-Purpose Hall to the community of Barangay
• PLDT reached out to 2,306 families affected by several Tumanding in Arakan, North Cotabato in partnership with
calamities that hit the Philippines in 2019. the Philippine Eagle Foundation, Inc.
• PSF served a total of 5,512 families, who were victims of • Nearly 1,000 farmers and youth participants from all over
various calamities such as Typhoon Usman in Camarines the Philippines under Smart’s Digital Farmers Program.
Sur and Albay, fire in Quezon City and Navotas, earthquakes • Over P100,000 in sales were raised in just one day from
victims in Pampanga, Batanes and Cotabato. Smart’s Buy Local, Buy Smart campaign where employees
• Under the Tulong Kapatid initiative, Smart’s relief efforts purchased rice directly from small-scale farmers of
have reached more than 3,200 families in at least 10 Magdalena, Laguna.
barangays from North Cotabato and Davao del Sur.
• Trained over 20,000 students and teachers at
TNT Tropang Ready disaster preparedness caravans.
NOTE: More information on PLDT Group’s various CSR efforts are available in the PLDT 2019 Sustainability Report.
CORPORATE SOCIAL RESPONSIBILITY 16

The team followed a set of criteria to define critical roles
and identify high potential talents who are now undergoing
PEOPLE AND leadership assessment based on the standards. These

talents are placed in an accelerated growth path through
targeted development programs, pivotal roles and
CULTURE
stretched assignments. This is supplemented by execu-
tive coaching and mentoring from global experts for
strategic capabilities.
For targeted skills, People Group guided top management

to look at non-traditional talent pools using data and
2019: A BREAKTHROUGH YEAR insights and developed Executive Development Pipeline
program which brought a couple of global Filipinos back
In 2019, the People Group focused on five strategic
to the country. This initiative continues to improve the
priorities which aimed to strengthen its role of being a
group’s bench health.
“strategic leader of business growth thru human capital”
during a critical time of transformation. The goals
To further boost the talent pipeline, three tracks of
included (1) Transformation Leadership; (2) Scaled
Management Associate Program were launched where
Organization; (3) Aligned, Enabled and Engaged
top graduates from local and global universities joined.
Workforce; (4) High Performance Organization; and (5)
This is a 12-month program that provides industry
People Group Capability Building.
grounding, leadership fundamentals, social engagement
activities and action-oriented domain learning. All these
DRIVING TALENT programs are built to ensure leadership continuity to
deliver PLDT’s promise of best customer experience.
2019 was a pivotal year for driving talent. PLDT hired
3,211 employees with majority of roles belonging to the
Customer Experience Optimization group. 76% of new
hires came from the Gen Y and Z segments (under age
MEANINGFUL CONVERSATIONS
To drive employee awareness on business updates, three
30) and 22.3% from the 30-50 years old age bracket.
leadership Dialogues were facilitated by Top Management
There was a high demand for hiring installation and
for PLDT/Smart’s Officers and Executives. The town halls
repair operations roles needed to improve customer
were a mix of face-to-face and digital, where
experience for PLDT Home.
conversations were streamed live through the company’s
internal social media platform, Workplace by Facebook.
Smart recruited a total of 799 employees with 77% of
Questions raised by employees nationwide were
hires being Gen Y and Z (under 30 years old). 41% of
answered real-time. Over 85% of the leaders participated.
them were from the Revenue team, mostly comprised of
Customer Solutions Officers for Smart retail stores
Beyond the board room set-up were meet and greet
nationwide. Whereas 25% of hires came from the
sessions where Chairman MVP and Smart President &
Technology group with majority being Network Engineers
CEO Al Panlilio chatted with employees while personally
dedicated to delivering better customer experience.
serving them coffee and thanking them for their hard
work.
FUTURE PROOFING PLDT Because the company achieved its highest ever
Guided by the PLDT Group’s renewed focus on customer
nine-month revenue level in PLDT Group history, the
experience, People Group embarked on a three-year
employee community celebrated their “ways of winning”
talent transformation journey. This started with the
through a series of “WOWvember” activities last
launch of the new leadership standards that value
November where people recognized one another,
customer centricity above all else.
leaders announced org-wide promotions, and employees
enjoyed food treats nationwide.
Chairman MVP and top management took an active role
in this endeavor. In the past year, People Group rolled
out talent reviews with key leaders to baseline the
Group’s talent bench and agreed as a team on the
strategy to improve the identified gaps on succession.
17 PEOPLE AND CULTURE

DIGITAL WORKPLACE
In line with PLDT/Smart’s digital transformation
thrust, a number of internal processes were digitized
to boost work productivity. In 2019, PLDT and Smart
Smart weight loss challenge, along with weekly wellness
launched its first employee self-service platform
classes and online engagement activities.
called “ONE Hub”, where users can easily raise online
tickets and quickly look for answers to their HR, IT, Being a strong advocate of sports, the Company trained
corporate services, and logistics-related concerns and recognized its 227 employee athletes who represented
thru the site’s knowledge base articles. A total of PLDT and Smart in the 2019 MVP Olympics. 13 sports
8,519 HR transactions were served across 10 people tournaments were also participated by over 1,000
services available. employees.
Outside Metro Manila, “People Group (PG) On the Go”

DIGITAL LEARNING CULTURE regional cascades (known as kapihan) were launched in
In 2019, the PLDT/Smart Learning & Development (L&D) four key cities, Davao, Cebu, Iloilo and Laguna where the
team launched a new cloud-based Digital Onboarding workforce shared updates, and aired out ideas and
Portal for new hires called “ONEboarding”, making concerns with the HR team. The first ever ONE Sportsfest
company information more accessible to new regional tournament for PLDT and Smart employees also
employees anytime and anywhere to compliment coincided with the PG on the Go sessions in those
face to face integration sessions for the New Employee locations, engaging over 300 employees.
Orientation program. It was also beneficial to the
Corporate Social Responsibility played a crucial role in
company’s geographically dispersed population where
the company’s employee engagement initiatives.
Proceeds from the Smart Saturdays “Avengers
Endgame” movie premiere for employees and their
families went to Public Affairs’ Smart School-in-a-Bag
program – a portable digital classroom designed to
facilitate learning in basic education in remote areas
without electricity. 9,000 employees and dependents
nationwide participated in this event. Chairman MVP also
celebrated his birthday by organizing a fundraising fun
run titled “MVP Superhero Run”. 326 PLDT/Smart
employees and their families participated, raising
Php275,600 in donations for the Tulong Kapatid charity
projects.
One of the biggest engagement events of the year

included PLDT/Smart’s much awaited “Trick-or-Treat at
the Oscars” event where 2,525 registered employees and
dependents celebrated with games, candies, workplace
decor and Halloween costumes.
Before capping off the year, PLDT paid tribute to its 389

loyalty awardees in their annual service awards event
called “Pamana” at the Dusit Thani Hotel, which celebrated
their legacy to the business. Tenured employees were
personally given plaques by the leadership team for
their valuable contributions to the Company over the
past 25, 30, 35 and 40 years.
the cost of travel and time were significantly reduced.
With the digital ONEBoarding program, the time Apart from wellness and family initiatives, employee safety
between a new hire’s first day and orientation was programs were also prioritized. In partnership with Business
decreased significantly, from an average of two months Continuity Planning, People Group and Public Affairs, an
to just 15 days — a decrease of 75 percent. In just two org-wide disaster preparedness program called “Laging
weeks, the new hires were briefed on their core HANDA” was rolled out internally which highlighted the
responsibilities, the company’s products and services importance of emergency readiness during various types
and important policies, among others. of calamities.
As PLDT and Smart continue to invest in more innovative

platforms in support of its business transformation, the
L&D team beefed up its training for employee users on RECOGNIZING PERFORMANCE
how to navigate through the new applications. In 2019, As a Company that rewards high performance among its
there was a total of 10,656 trained users of various workforce, PLDT and Smart wanted to introduce a culture
business systems; 8,160 employees coached in various where employees commend one another for a job well
technical courses, 2,635 trainees in product and sales done. Thus, the “Bida ONE” digital recognition program
knowledge; 805 global certifications for technical was created in 2019 through the internal performance
talents; and 339 executives and critical talents trained. management system called “DigiPEP”. It encouraged
people to send their colleagues digital recognition
badges dedicated to its corporate values such as
EMPLOYEE ENGAGEMENT malasakit, awesome customer experience, agility, and
collaboration, among others. A total of 6,831 badges
EXPERIENCE were given within the year.
Putting importance to employee wellbeing, a synergized
PLDT and Smart wellness program called Wellness On top of this, incentive plans for the workforce were
Revolution was launched in 2019 with over 2,200 also set in place for their good performance in 2019.
participants. This included the first ever joint PLDT/

OUR LEADERSHIP
BOARD OF DIRECTORS
The primary responsibility for ensuring good corporate

governance in PLDT is vested in our Board of Directors
(“Board”). As the body entrusted with authority to act for
and on behalf of the Company, acts of the Board are
expressions of the Company’s will, including its exercise of
corporate powers, conduct of business and control of the
properties of the Company. Directors are expected to
perform their duties diligently and in good faith and devote
sufficient time and attention for such purpose. The Board
and the directors are bound to act in the best interest of
the Company and for the common benefit of its stockhold-
ers and other stakeholders.
To ensure a high standard of governance for the Company,

the Board performs the following functions and duties with
the assistance of the Board Committees:
Corporate Governance
The Board, with the assistance of the Governance and Nomination Committee,
establishes the Company’s corporate governance framework and policies and
oversees their implementation.
Determination and review of Company’s Vision, Mission

and Strategic Objectives
The Board, in coordination with Management, determines the Vision, Mission and
strategic objectives of the Company and reviews the same annually in relation to
corporate performance in its annual strategic planning session with Management.
Management Oversight
The Board exercises oversight on Management in its execution of the strategic

direction and implementation of the policies set by the Board.
Corporate Social Responsibility and Stakeholder Engagement
oversees the Company’s stakeholder engagement and corporate social
responsibility programs. It ensures that the Company has an investor relations
program and programs for engagement and communication with sectors of the
community in which the Company operates, including the Company’s disclosure
of material and reportable information regarding non-financial and sustainability
issues, with focus on the management of economic, environmental, social and
governance (EESG) issues of the business.
Financial Reporting, Internal Control, Internal Audit, and Independent Audit
The Board, with the assistance of the Audit Committee, carries out its oversight
responsibilities for the Company’s financial reporting, internal control system,
internal audit and independent audit mechanisms.

Enterprise Risk Management
The Board, with the assistance of the Risk Committee, fulfills its oversight respon-
sibilities for the Company’s assessment and management of enterprise risks, and
reviews and discusses with Management the Company’s major risk exposures and
the corresponding risk mitigation measures.
Technology
The Board, with the assistance of the Technology Strategy Committee, reviews
and approves the Company’s technology strategy and roadmap and capital
expenditures for network and technology.
Succession Planning, Professional Development, and Executive Compensation
The Board, through its Executive Compensation Committee, reviews the criteria
for employment, promotion and professional development plans for Senior
Management; keeps track of their performance, and evaluates their potential for
other critical roles and leadership paths.
A succession planning process is facilitated within the PLDT Group referred to as

the critical talent program.
The Board is assisted by the Executive Compensation Committee in developing

the compensation philosophy or policy consistent with the strategy, culture and
control environment of the Company.
Selection Process for Directors and Appointment of Officers
implements a selection process to ensure that the Board has an effective and
balanced mix of knowledge, expertise, experience and diversity in terms of,
among others, age, gender and ethnicity, and reviews the qualifications of officers
to be appointed.
Annual Board Assessment
The Board conducts an annual self-assessment to evaluate the performance of the

Board as a whole, the Board Committees and the individual directors. Each Board
Committee also conducts an annual self-assessment of its performance.
COMPOSITION
Our Board is composed of 13 members, with three independent directors, eight other non-executive
directors and two executive directors. Four directors are female and two are Japanese citizens. All the
members of our Board are qualified and competent directors with diverse and complementing skills,
expertise, experience and knowledge which enrich the collective processes and practices of our Board.
Our directors have extensive experience in their respective fields or industries, such as telecommunica-
tions, Information and Communication Technology (ICT), business processing, infrastructure, power,
banking, insurance, real property development, retail and agriculture businesses, law and public admin-
istration. At least three of our non-executive directors have extensive experience in the telecommunica-
tions industry.
21 CORPORATE GOVERNANCE SECTION

views with the checks and materially interfere with his
balances in place: (i) clearly exercise of independent judg-
defined duties and responsibili- ment in carrying out his respon-
ties of the Chairman and the sibilities as a director of the
President & CEO in the Company.” More specific
By-Laws, CG Manual and Board independence standard criteria
Charter; (ii) independent Board are enumerated in our By-Laws
oversight, supported by 3 and CG Manual.
independent directors, includ-
ing a lead independent director; On March 21, 2019, the Board
8 non-executive directors, appointed Hon. Artemio V.
Audit Committee composed Panganiban as Lead Independ-
entirely of independent direc- ent Director pursuant to the
tors, and Governance and Recommendation of the Code
Nomination Committee, Execu- of Corporate Governance for
tive Compensation Committee Publicly-Listed Companies (CG
and Risk Committee with Code for PLCs).
independent directors
constituting majority of their DIVERSITY
Chairman. The Chairman respective voting members;
provides leadership for the and (iii) Company policies and PLDT considers having an
Board and ensures that the procedures which have been optimally performing diverse
Board works effectively and established to manage conflicts Board as an essential element
performs its duties responsibly. of interests. for the attainment of the
He presides and facilitates Company’s strategic objectives
discussions in Board meetings Independent Directors. Our and its sustainable develop-
focusing on strategic matters, independent directors, namely, ment. PLDT’s Board Diversity
risk management, key issues Retired Supreme Court Chief Policy articulates the Compa-
and governance concerns that Justice Artemio V. Panganiban, ny’s recognition of the
will affect the business opera- Mr. Pedro E. Roxas and Mr. enhanced quality of perfor-
tions. Bernido H. Liu, were selected mance and decision-making
pursuant to the specific inde- capability of a Board that is
The incumbent Chairman, pendence criteria set out under composed of a mix of directors
Mr. Manuel V. Pangilinan, applicable laws and rules, our who are equipped with knowl-
concurrently holds the position By-Laws and CG Manual. Under edge, skills, professional or
of President and CEO since our CG Manual, an independent business experience, cultural
January 1, 2016. With the director is, broadly, “a person and educational background,
guidance of the Governance who is independent of Manage- ethnicity, gender, age, length of
and Nomination Committee, ment and who, apart from his service, and is a combination of
Mr. Pangilinan continues to fees and shareholdings, is free executive, non-executive and
manage the search for a new from any business or other independent directors. The
President and CEO of PLDT. relationship with the Company Company’s Board Diversity
Meanwhile, the Board is assured which could, or could Policy provides that without
of the benefit of independent reasonably be perceived to, infringing the cardinal right of
BOARD DIVERSITY FACTORS DIRECTORS’

PROFESSIONAL
BACKGROUND
03 05 05
08 Several of our directors have professional background
and business experience in more than one field.
AGE 50-60 61-70 >70
ROLE NED 08 04
85%
TELECOM-ICT
ID 03 EXPERIENCE 01 23%
10-20
>20
02 (11)
<10
ED (YEARS) (3)
ETHNICITY BUSINESS LEGAL
11 02
FILIPINO JAPANESE
GENDER
1-10 11-30 >30
31% 23%
YEARS IN PLDT (4) (3)
AS DIRECTOR
9 4 09 03 01 ENGINEERING-ICT PUBLIC ADMIN

the stockholders to nominate Committee follows the Our Board adheres to a
and vote for the election of Company’s Guidelines on the performance based standard in
directors, the Governance and Search, Screening and Selection determining whether
Nomination Committee and the of Directors and Screening directorships in other
Board shall consider the Checklist which contain, among companies compromise the
appropriate mix, complementa- others, the criteria and capacity of a director to serve
tion and interplay of the various qualifications for directorship or perform his/her duties and
diversity aspects in the selec- and a matrix on the skills, responsibilities to the Company
tion of qualified director-nomi- expertise and experience diligently and efficiently.
nees, including independent relevant to the responsibilities Differences in individual
director-nominees, who will be of the Board, and considers capabilities and the nature and
recommended for election by other relevant factors, such as demands of directorships in
the stockholders or the Board, conflict of interest and other companies are given due
as the case may be, for the directorships and/or positions consideration in determining
Company to achieve the in other corporations. The fitness and capacity to serve in
benefits of Board diversity as process ensures that the our Board.
well as to fairly and effectively selection of directors and
promote the interest of all the independent directors is aligned MEETINGS
stakeholders, particularly the with the Board Diversity Policy
long term interest of the and the Company’s Mission, Our Board meets, more or less,
stockholders of the Company. Vision and strategic objectives. on a monthly basis, in
accordance with the schedule
For the purpose of selecting the of meetings that it sets at the
members of our Board, the DIRECTORSHIPS IN OTHER end of the preceding year.
Governance and Nomination CORPORATIONS Invariably, some of these
2019 ATTENDANCE IN BOARD MEETINGS AND ANNUAL STOCKHOLDERS’ MEETING (ASM)
Director Designation Board Meetings ASM
Manuel V. Pangilinan Executive Director 12/12
Ma. Lourdes C. Rausa-Chan Executive Director 11/12
Bernido H. Liu Independent Director 11/12
Artemio V. Panganiban Independent Director 12/12
Pedro E. Roxas Independent Director 12/12
Ray C. Espinosa Non-Executive Director 12/12
Helen Y. Dee Non-Executive Director 10/12
James L. Go Non-Executive Director 12/12
Shigeki Hayashi Non-Executive Director 11/12
Junichi Igarashi Non-Executive Director 12/12
Aurora C. Ignacio* Non-Executive Director 12/12
Albert F. del Rosario Non-Executive Director 12/12
Marife B. Zamora Non-Executive Director 12/12

*Until January 28, 2020; Retired Judge Manuel L. Argel, Jr. was elected to the Board on even date.
2019 ATTENDANCE IN BOARD MEETINGS AND ANNUAL STOCKHOLDERS’ MEETING (ASM)
Designation Board Meetings ASM
Oscar S. Reyes Advisor 11/11
Roberto R. Romulo Advisor 10/12
Benny S. Santoso Advisor 11/11
Orlando B. Vea Advisor 11/11
Christopher H. Young Advisor 11/11

meetings are devoted to the Board meetings included the • Reports of Board
review and/or approval of the following: Committees
Company’s Vision and Mission,
the strategic plans and budget, • Audited financial results for • Enterprise Risk Management
business operations updates, the year ended Report
network and technology December 31, 2018
updates, capital expenditures • Dividend declarations
and investments, risk manage- • 2019 Annual Budget,
ment reports and sustainability business strategies and • Sustainability Report
programs. Once every quarter, initiatives
our Board reviews the quarterly • Approval of Material Related
financial reports. • Financial results for each Party Transactions Policy
quarter of 2019
In 2019, our Board held 12 • Creation of Sustainability
meetings (nine regular Board • Business updates Office and Appointment of
meetings, two special Board Chief Sustainability Officer
meetings and one organization- • Network projects and capital
al Board meeting). In each expenditures • Corporate Social
meeting, a quorum of at least Responsibility Projects
two-thirds of the Board • Equity and other securities
members, including at least transactions COMPENSATION
one independent director, was
present. All independent • Annual Stockholders’ All our directors are entitled to
directors were present in the Meeting matters a per diem of Php250 thousand
Annual Stockholders’ Meeting for attendance in each Board
held on June 11, 2019. The • Appointment of members of meeting and Php125 thousand
respective Chairmen of the the Advisory Board and for attendance in each meeting
Audit, Governance and Board Committees of the Board Committees in
Nomination, Executive which some of them are
Compensation, Risk, • Appointment and promotion members. Save for our execu-
and Technology Strategy of officers tive directors, our directors do
Committees were likewise not receive stock options,
present in the said meeting. • Appointment of Lead performance incentives, bonus-
Key agenda items in the 2019 Independent Director es or any other form of com-
BOARD ACTIVITIES
Management
Oversight
Strategic Direction, Technology

& Corporate Performance
29%
22%
16%
14%
6% Stakeholder
13% Engagement and CSR
Corporate Governance
Financial Reporting,
Internal Controls & Audit,
and Independent Audit
Enterprise Risk
Management

2019 ATTENDANCE IN BOARD COMMITTEE MEETINGS
Audit Governance & Executive Risk Technology

Member Committee Nomination Compensation Committee Strategy
(AC) Committee Committee (RC) Committee
(GNC) (ECC) (TSC)
Manuel V. Pangilinan 4/4 2/2 6/8
Ma. Lourdes C. Rausa-Chan*** 3/4
Bernido H. Liu* 7/8 2/4 1/2 5/6
Artemio V. Panganiban* 8/8 4/4 2/2 6/6
Pedro E. Roxas* 8/8 2/4 1/2 6/6
Ray C. Espinosa 8/8
James L. Go** 8/8 6/6 8/8
Junichi Igarashi** 8/8 4/4 2/2 6/6 8/8
Albert F. del Rosario 8/8
Roberto R. Romulo** 8/8
Oscar S. Reyes 8/8
Orlando B. Vea 8/8
Corazon S. de la Paz-Bernardo** 8/8
Gina Marina P. Ordoñez*** 3/3 1/1

* Independent Director | ** Advisor to the Audit Committee | *** Non-voting member
2019 BOARD REMUNERATION (PHP)
Remuneration Remuneration for

Directors for ASM and Board Board Committee Total
Meetings Attended Meetings Attended
Executive Directors
Manuel V. Pangilinan 2,750,000 1,500,000 4,250,000
Ma. Lourdes C. Rausa-Chan 2,500,000 375,000 2,875,000
Independent Directors
Bernido H. Liu 2,500,000 1,875,000 4,375,000
Artemio V. Panganiban 2,750,000 2,500,000 5,250,000
Pedro E. Roxas 2,750,000 2,125,000 4,875,000
Non-executive Directors
Ray C. Espinosa 2,750,000 1,000,000 3,750,000
Helen Y. Dee 2,250,000 - 2,250,000
James L. Go 2,750,000 2,750,000 5,500,000
Shigeki Hayashi 2,500,000 - 2,500,000
Junichi Igarashi 2,750,000 3,500,000 6,250,000
Aurora C. Ignacio* 2,750,000 - 2,750,000
Albert F. del Rosario 2,750,000 1,000,000 3,750,000
Marife B. Zamora 2,750,000 - 2,750,000
Total 34,500,000 16,625,000 51,125,000

* Until January 28, 2020; Retired Judge Manuel L. Argel, Jr. was elected to the Board on even date.
Note: Only one per diem was given to directors for attendance in the Annual Stockholders’ Meeting, Regular Meeting, and Organizational Meeting on June 11, 2019.

Board of Directors
Advisory Board/Committee
Governance Executive Technology

Audit Risk
& Nomination Compensation Strategy
Committee Committee
Committee Committee Committee
(AC) (RC)
(GNC) (ECC) (TSC)
DIRECTORS’ TRAINING 2019
Date of Speaker/Training
Program Name of Director
Training Institution
September 26 5G Technology Strategy Ms. Claudia Hyunah Park Manuel V. Pangilinan

and Governance: Market Dr. Byungsuk Kim Albert F. del Rosario
Trends and New Business PLDT Annual Corporate Ray C. Espinosa
Applications, Risks and Governance Junichi Igarashi
Challenges Enhancement Session Bernido H. Liu
Artemio V. Panganiban
Cyber Security: Protecting Mr. Rob Partridge Ma. Lourdes C. Rausa-Chan
Critical Business Mr. Craig A. Gonzales Pedro E. Roxas
Infrastructure PLDT Annual Corporate Marife B. Zamora
Governance
Enhancement Session
Corporate Governance Institute of
May 2 Aurora C. Ignacio
Orientation Program Corporate Directors
October 26 2019 Annual Seminar: Rizal Commercial Banking Helen Y. Dee

Sustainability Reporting Corporation
and CDD and Trade-Based
Money Laundering
2019 Seminar on Corpo-

December 5 SGV & Co Shigeki Hayashi
rate Governance
pensation from the Company. Commission (SEC), Philippine trends and technologies, new
Stock Exchange (PSE), US SEC, laws, and best business practic-
TRAINING and New York Stock Exchange es. Updates on business and
(NYSE), and new laws applica- governance policies and
For the orientation of new ble or relevant to the Company requirements, and new laws
directors, the Chairman, Presi- and its business, particularly on applicable or relevant to the
dent and CEO, Chief Financial financial reporting and disclo- Company and its business are
Officer, Corporate Secretary sures and corporate govern- presented in Board meetings or
and Chief Governance Officer ance, are presented in Board furnished to directors.
give a briefing on the Compa- meetings and/or furnished to In 2019, in collaboration with
ny’s structure, business, operat- the directors. Philippine-based affiliates of the
ing and financial highlights, First Pacific Company Limited,
responsibilities of the Board The Board keeps abreast of the Company conducted the
and its Committees and how industry developments, ACGES for PLDT’s Board and
each operates. The new direc- business trends and legal Management on the topics: (i)
tor is also furnished with copies requirements relevant to the 5G Technology Strategy and
of all relevant corporate docu- Company and its operations. In Governance: Market Trends and
ments, including the Company’s this regard, the Company New Business Applications,
Articles of Incorporation, conducts an Annual In-House Risks and Challenges; and (ii)
By-Laws, Annual Report, CG Corporate Governance Cyber Security: Protecting
Manual, Code of Ethics, and the Enhancement Session (ACGES) Critical Business Infrastructure.
Charters of the Board Commit- that provides an opportunity Some members of our Board
tees. Updates on business and for leadership to engage in likewise attended other training
governance policies and discussion with international sessions by external providers
requirements principally from and local experts on relevant presented in the table on Board
the Securities and Exchange topics, including emerging Trainings.

PERFORMANCE ASSESSMENT AUDIT COMMITTEE (AC) through the following QR code.
Our directors take part in an The Audit Committee assists

annual assessment process the Board in fulfilling its over-
which reviews and evaluates sight responsibility for: (i) the
the performance of the whole integrity of the Company’s
Board, the Board Committees accounting and financial
and the individuals that reporting principles and
comprise these bodies. This policies, and system of internal
process enables the Board to controls, including the integrity
identify its strengths and areas of financial statements (FS) and
for improvement and elicit the independent audit thereof;
individual director‘s feedback (ii) the Company’s compliance AC Activities in 2019
and views on the Company’s with legal and regulatory
strategies, performance and requirements; and (iii) the The PLDT AC held a total of
future direction. Each Board Company’s audit process and eight meetings including two
Committee also conducts an the performance of the Internal regular meetings and six joint
annual self-assessment of its Audit organization and the meetings with the Audit
performance. The Board external auditors, including the Committees of Smart
assessment process is further external auditors’ qualifications Communications, Inc. (SMART)
discussed under the Section and independence. For efficien- and Digital Telecommunications
Monitoring and Evaluation of cy, the Board has determined Philippines, Inc. (Digitel).
this report. that in lieu of creating a distinct
Related Party Transactions Jointly with the SMART and
BOARD COMMITTEES (RPT) Committee, the AC’s Digitel Audit Committees, the
functions shall include the PLDT AC approved the
To aid in ensuring compliance review of material RPTs and Group-wide Internal Audit (IA)
with the principles of good significant unusual transactions, Plan for 2019. The AC
corporate governance, our in accordance with the materi- discussed, reviewed and noted
Board has constituted the ality threshold set in the Materi- the comprehensive reports of
following Board Committees: al Related Party Transactions the PLDT Group Internal Audit
Audit, Governance and Policy and the Guidelines on the Head on various topics, includ-
Nomination, Risk, Executive Proper Handling of RPTs or by ing service revenues, network
Compensation, and Technology the Board. capital expenditures, commer-
Strategy. cial inventories, customer
Our AC is composed of three experience and user access
ADVISORY BOARD/ members, all of whom are management. The AC also
COMMITTEE independent directors, and four discussed and noted the
advisors. The AC members are: reports by IA on its SOX 404
Our Board is supported by an Retired Supreme Court Chief compliance readiness activities,
Advisory Committee that Justice Artemio V. Panganiban, being done in coordination with
provides guidance and Mr. Bernido H. Liu and Mr. Finance and the Control
suggestions, as necessary, on Pedro E. Roxas, who is the Owners across the PLDT Group,
matters deliberated upon Chairman. The AC advisors which culminated in Manage-
during Board meetings. Our include Mr. Junichi Igarashi and ment’s sign-off for year-end
Advisory Committee is com- Mr. James L. Go, who are 2018 in March 2019. The AC
posed of Mr. Roberto R. non-independent members of also approved the web-based
Romulo, Mr. Benny S. Santoso, our Board, Mr. Roberto R. platform, spearheaded by IA,
Mr. Orlando B. Vea, Mr. Christo- Romulo, a member of our which will help manage audit
pher H. Young, and Mr. Oscar S. Advisory Board/Committee, projects, data analytics, and
Reyes. and Ms. Corazon S. de la SOX 404, and subsequently
Paz-Bernardo, a former received updates on the
PLDT’s other Board member of our Board. All the cascades and trainings, and its
Committees, namely Audit, members of our AC are finan- launch in October 2019. Finally,
Governance and Nomination, cially literate and Ms. de la the AC was also updated on the
Executive Compensation, Risk, Paz-Bernardo has expertise in following key accomplishments
and Technology Strategy accounting and financial of Project OWN initiative, which
Committees assist the Board in management. She is the former involves the cross-functional
the performance of its functions Chairman and Senior Partner of collaboration of about 120
and responsibilities. Joaquin Cunanan & Company, Officers and Executives, and
The respective charters of the now Isla Lipana & Co., a aims to strengthen the culture
Board Committees provide that member firm of Pricewater- of ownership and accountability
each shall have the necessary house Coopers (PwC). across the PLDT Group: (1) the
resources and authorities to launch in November 2019 of the
discharge their responsibilities, The purposes, duties and Ownership Champions
including obtaining external powers of the AC are set forth program; and (2) the remedia-
legal or professional advice. in its charter. The charter of the tions of prior years’ audit items.
AC may be viewed and down-
loaded from the PLDT website The AC reviewed with the Chief

Financial Officer (CFO) and the of Joint Strategic Operations, to
PLDT Group Controller the provide updates on risks
quarterly unaudited FS, mitigations or remediations of
accounting policies, new the noted audit items.
accounting standards and their
impact to the PLDT Group, and GOVERNANCE AND
management’s estimates and NOMINATION COMMITTEE
judgments. The AC also (GNC)
discussed with them the
Company’s 2018 Annual The GNC assists the Board in
Reports on Form 17-A for the the performance of its functions GNC Activities in 2019
Philippine Securities and to: (i) establish the Company’s
Exchange Commission (SEC), corporate governance frame- The PLDT GNC held four
and on Form 20-F for the US work, principles and policies meetings in 2019. The GNC’s
SEC. and oversee their implementa- activities pursuant to its
tion; as well as assist the Board oversight function on govern-
The AC recommended to the in performing its oversight ance-related matters included
Board the re-appointment of function on the Company’s the following:
SyCip, Gorres, Velayo & Co. fulfillment of its environmental,
(SGV) as the external auditors social and governance (ESG) On policy review and develop-
for the Company and its subsid- responsibilities and corporate ment, the GNC reviewed the (i)
iaries for 2019. They approved social responsibility (CSR); (ii) Policy on Gifts, Entertainment
SGV’s various audit and non-au- develop and implement the and Sponsored Travel, (ii)
dit engagements, and verified Board’s performance evaluation Policy on Gift-Giving Activities,
that such services would not process; (iii) review and evalu- (iii) Expanded Whistleblowing
compromise their independ- ate the qualifications of the Policy, and (iv) Supplier/Con-
ence. The AC discussed with persons nominated to the tractor Relations Policy, and
SGV their plan and status Board and to other positions determined that the said
reports for the integrated audit requiring appointment by the policies remain to be compliant
of the FS and the effectiveness Board; (iv) identify persons with applicable law, regulations
of internal controls over finan- qualified to become members and best practices and are
cial reporting (ICFR). They also of the Board and/or the Board appropriate for the Company,
discussed SGV’s identified Committees; and (v) make an and approved the recommen-
control deficiencies, and assessment of the effectiveness dation to continue to strength-
management’s remediation of the Company’s nomination en the implementation of the
plans. They also approved and selection process for the said policies. The GNC likewise
SGV’s report on the results of Board and Board Committees. discussed PLDT’s Integrated
the integrated audit of the FS Annual Corporate Governance
and the effectiveness of ICFR Our GNC is composed of five Report that was submitted to
for 2018. The AC also recom- voting members, all of whom the SEC and PSE in compliance
mended to the Board the are regular members of our with the CG Code for PLCs and
approval of the Company’s Board of Directors, and two related SEC and PSE memoran-
policy on Material Related Party non-voting members. Three of dum circulars.
Transactions, in compliance the voting members are inde-
with the SEC’s Rules on Materi- pendent directors, namely, On education and communica-
al RPT for Publicly-Listed Retired Supreme Court Chief tion, the GNC provided guid-
Companies, and reviewed and Justice Artemio V. Panganiban, ance on and approved the
approved all RPTs discussed Mr. Pedro E. Roxas and Mr. speakers for and the content of
and endorsed by the CFO. Bernido H. Liu, and two are PLDT’s Annual Corporate
non-independent directors, Governance Enhancement
The AC reviewed the Corporate namely, Mr. Junichi Igarashi and Session (ACGES) for Directors
Governance Office (CGO’s) Mr. Manuel V. Pangilinan, who is and Officers. The ACGES
status reports on complaints the Chairman. The non-voting themes in 2019 were: (i) 5G
received through the Compa- members are Atty. Ma. Lourdes Technology Strategy and
ny’s whistleblowing policy. It C. Rausa-Chan and effective Governance: Market Trends and
also confirmed the continued March 21, 2019, Ms. Gina Marina New Business Applications,
validity of the AC Charter and P. Ordoñez. Risks and Challenges; and
the IA Charter until their next (ii) Cyber Security: Protecting
review in 2020. In 2019, the AC The purposes, duties and Critical Business Infrastructure.
also invited the Head of Enter- powers of the GNC are set forth The GNC likewise reviewed,
prise Business Continuity and in the charter. The charter of selected and approved the
Resilience Office, the Chief the GNC may be viewed and theme entitled, #IfNotNow-
Legal Counsel, the Chief downloaded from the PLDT When and related creative
Revenue Officer, the Chief website through the following concepts for the 2020 Corpo-
Information Security Officer, QR code: rate Governance communica-
the Chief Technology and tion materials; and reviewed
Information Adviser, the Chief and approved PLDT’s Corpo-
Information Officer, the Sector rate Governance Report for
Heads of Finance, and the Head 2018.

On compliance and enforce- executive compensation PLDT-SMART TIP which is a
ment, the GNC reviewed the programs, including long term combination grant of PLDT
reports on PLDT’s Expanded incentive plans and equi- common shares and cash; (iv)
Whistleblowing (EWB) cases ty-based plans for officers and an allotment from the approved
and the investigation and executives; (iii) oversee the 2017-2019 TIP budget to be
dispositions thereof, and those development and administra- paid out as a Special Incentive
of SMART, PLDT Global Corpo- tion of the Company’s perfor- to recognize select few individ-
ration, ePLDT, Inc., Digitel and mance management framework uals who are considered critical
Digitel Mobile Philippines, Inc. It to monitor and assess the talents and who are able to
likewise reviewed and noted or performance of Management; contribute significantly to the
approved, as applicable, the (iv) review the succession plan achievement of the Company’s
Conflict of Interest (COI) for officers, including the CEO; goals and objectives; the
Disclosures of key employees. and (v) oversee the develop payout mechanics and cost
In 2019, the GNC assisted in ment and implementation of estimate for the 2019
implementing the Board Perfor- professional development PLDT-SMART STIP; Manage-
mance Assessment for 2018 programs for officers. ment’s recommendation to pay
performance, which included out an advance STIP to PLDT
the performance evaluation of Our ECC is composed of five and SMART Officers and
the Board Committees and voting members, all of whom Executives corresponding to
Individual Directors. The GNC’s are regular members of our the 2019 core net income
activities pursuant to its over- Board of Directors, and one performance; Management’s
sight function on nomination non-voting member. Three of proposal on the structure of the
related matters included the the voting members are inde- 2020 PLDT-SMART STIP; and
following: pendent directors, namely, Management’s proposal on the
Retired Supreme Court Chief structure of the Cycle 2 of the
The GNC pre-screened candi- Justice Artemio V. Panganiban, PLDT-SMART TIP covering the
dates nominated to become Mr. Pedro E. Roxas and Mr. two (2) year period 2020 and
Directors and the qualifications Bernido H. Liu, and two are 2021. The ECC likewise
of candidates for Independent non-independent directors, reviewed the Talent Strategy
Directors, and submitted to the namely, Mr. Junichi Igarashi and and developments on the
Board the final list of qualified Mr. Manuel V. Pangilinan, who is different programs and initia-
Director and Independent the Chairman. The non-voting tives under the Talent Manage-
Director nominees for election member, effective March 21, ment program.
at the 2019 Annual Stockhold- 2019, is Ms. Gina Marina P.
ers’ Meeting. It likewise Ordoñez. RISK COMMITTEE (RC)
screened and recommended to
the Board the appointment of a The purposes, duties and The RC assists the Board in the
Lead Independent Director; and powers of the ECC are set forth performance of its functions to:
reviewed and confirmed People in its charter. The charter of the (i) oversee Management’s
Group’s evaluation of the ECC may be viewed and adoption and implementation of
qualifications of officers and downloaded from the PLDT a system for identifying,
recommended their appoint- website through the following assessing, monitoring and
ment or re-appointment as such QR code: managing key risk areas; (ii)
at the 2019 Organizational review Management’s reports
Meeting of the Board of Direc- on the Company’s major risk
tors. Additionally, the GNC exposures; and (iii) review
reviewed and confirmed People Management’s plans and
Group’s evaluation of proposed actions to minimize, control or
appointments of new officers manage the impact of such
and promotions to officer rank risks.
for approval by the Board; and
reviewed and noted the crea- Our RC is composed of five
tion of PLDT’s Sustainability voting members, all of whom
Office and recommended to the are regular members of our
Board the appointment of a ECC Activities in 2019 Board of Directors. Three of the
Chief Sustainability Officer. voting members are independ-
The ECC held two meetings in ent directors, namely, Mr. Pedro
EXECUTIVE COMPENSATION 2019. Its activities for the year E. Roxas, Mr. Bernido H. Liu and
COMMITTEE (ECC) included discussion and Retired Supreme Court Chief
approval of the following: (i) Justice Artemio V. Panganiban,
The ECC assists the Board in payout of 2018 PLDT-SMART who is the Chairman, and two
the performance of its functions Short-Term Incentive Plan are non-executive non-inde-
to: (i) oversee the development (STIP) given the above-target pendent directors, namely, Mr.
of a compensation philosophy achievement of the 2018 Core Junichi Igarashi and Mr. James
or policy consistent with the Net Income Target; (ii) settle- L. Go.
strategy, culture and control ment of the 2018 PLDT-SMART
environment of PLDT; (ii) Transformation Incentive Plan The purposes, duties and
oversee the development and (TIP) grant; (iii) Management’s powers of the RC are set forth
administration of PLDT’s proposed Grant under the 2019 in the charter. The charter of

the RC may be viewed and TECHNOLOGY STRATEGY The purposes, duties and
downloaded from the PLDT COMMITTEE (TSC) powers of the TSC are set forth
website through the following in the TSC Charter. A copy of
QR code: The TSC assists the Board in the charter of the TSC may be
the performance of its functions viewed and downloaded from
to: (i) review and approve the the PLDT website through the
strategic vision for the role of following QR code:
technology in PLDT’s overall
business strategy, including the
SHAREHOLDERS
Report
Election Accountability
BOARD OF DIRECTORS
Report
Appointment
Appointment Report
Committee Charter Assurance
Designation
Appointment BOARD COMMITTEES
EXECUTIVE TECHNOLOGY GOVERNANCE

EXTERNAL AUDIT RISK COMPENSATION STRATEGY & NOMINATION
AUDITOR COMMITTEE COMMITTEE COMMITTEE COMMITTEE COMMITTEE
Report
Oversight Oversight Oversight

Guidance Report Report Guidance Oversight Report
Guidance
Guidance Report
CRMO/GROUP CORPORATE
INTERNAL SUSTAINABILITY
RISK MGMNT GOVERNANCE
Information AUDIT OFFICE
DEPARTMENT OFFICE
Audit Report Guidance Report

Oversight
Guidance Appointment
Oversight
Annual Audit CEO Report Accountability
MANAGEMENT
RC Activities in 2019 technology strategy and

roadmap of PLDT; (ii) fulfill its
The RC held six meetings in oversight responsibilities for
2019. Its activities included PLDT’s effective execution of
review and discussion with the its technology-related strate-
Group Enterprise Risk Manage- gies; and (iii) ensure the
ment (GRMD) and Manage- optimized use and contribution
ment, and noting or approval of of technology to PLDT’s
the following: (i) improvements business and strategic objec-
made to the risk management tives and growth targets.
framework and process; (ii) TSC Activities in 2019
Risk Appetite Statement of Our TSC is composed of five
the PLDT Group; (iii) top risks voting members and two The TSC held eight meetings in
of the PLDT Group as identified non-voting members. The five 2019. Its activities included
by the Top Management Team; voting members are non-inde- review and discussion with the
(iv) purchase of a Cyber pendent directors Mr. Manuel V. Technology Group and
Insurance Policy for the PLDT Pangilinan, who is the Chair- Management, and where
Group; and (v) Risk Profile of man, former Ambassador appropriate, endorsement to
the Technology Group, the Albert F. del Rosario, Atty. Ray the Board for approval the
Business Transformation Office, C. Espinosa, Mr. James L. Go following: (i) technology
the Corporate Services Group, and Mr. Junichi Igarashi; and the budget items; (ii) status of the
the Revenue Office, People two non-voting members are network, including upgrades on
Group, and Finance. Mr. Oscar S. Reyes and Mr. network performance and
Orlando B. Vea, who are network roll-out; (iii)
members of our Advisory technology strategies,
Board/Committee. programs, projects, initiatives

and plans, including, among ment in relation to the same; objectives are achieved;
others, core network expansion and (ii) serves as the link
and transport network between internal operations • Quality and continuous
transformation; and (iv) and external stakeholders. improvement are fostered in
projects in support of business Management formulates, under our control processes; and
operations including, among the oversight of the Audit
others, the consolidated device Committee, financial reporting • Significant legislative or
buying plan and unified revenue and internal control systems, regulatory issues impacting
assurance & fraud management. rules and procedures. Other the Company are recognized
duties of the President are set and addressed appropriate-
MANAGEMENT forth in the CG Manual. ly.
Our Board exercises oversight Corporate Secretary. The Chief Audit Officer/Internal
on Management in accordance The Corporate Secretary assists Audit Head reports functionally
with the standards set forth in the Board in the conduct of its to the AC and administratively
our CG Manual. The roles of meetings, including the prepa- to the President and CEO. In
Management and other offices ration of the schedule and the discharge of his duties, the
involved in ensuring implemen- agenda of Board meetings, and Chief Audit Officer/Internal
tation of the corporate govern- ensures that all Board proce- Audit Head is required to:
ance policies and requirements dures, rules and regulations are
are discussed below. observed by the directors, and • Provide annually, an
Management provides the assessment on the adequacy
President and CEO. The Presi- Board with complete and and effectiveness of the
dent and CEO has general care, accurate information necessary Company’s processes for
management and administra- for judicious decision making. controlling activities and
tion of the business operations The Corporate Secretary is managing risks;
of the Company. He ensures responsible for the safekeeping
that the business and affairs of and preservation of the integri- • Report significant issues
the Company are managed in a ty of the minutes of the meet- related to the processes of
sound and prudent manner and ings of the Board and Board controlling activities,
that operational, financial and Committees, as well as other including potential
internal controls are adequate official records of the Company, improvements to such
and effective to ensure reliabili- and contributes to the flow of processes, as well as provide
ty and integrity of financial and information between the Board information concerning such
operational information, effec- and Management, the Board issues; and
tiveness and efficiency of and its Committees, and the
operations, safeguarding of Board and the Company’s • Periodically provide
assets and compliance with stakeholders, including stock- information on the status
laws, rules, regulations and holders. and results of the annual
contracts. He provides leader- internal audit plan and the
ship for Management in Internal Audit Organization. sufficiency of our internal
developing and implementing Our Internal Audit organization audit organization’s
business strategies, plans and determines whether the Com- resources.
budgets to the extent approved pany’s structure of risk man-
by the Board. In order to enable agement, control and govern- The charter of the Internal
the members of the Board to ance processes are adequate Audit organization complies
properly fulfill their duties and and functioning to ensure that: with the International Standards
responsibilities, the CEO for the Professional Practice of
provides the Board with a • Risks are appropriately Internal Auditing of the Institute
balanced and understandable identified, managed and of Internal Auditors. Other
account of the Company’s reported; duties of the Chief Audit
performance, financial condi- Officer/Internal Audit Head are
tion, results of operations and • Significant financial, set forth in the CG Manual.
prospects on a regular basis. He managerial, and operating
directs Management to provide information are accurate, External Auditor. The Compa-
the Board/directors with reliable and timely; ny’s external auditor is
adequate and timely informa- appointed by the AC which
tion about the matters to be • Employees’ actions are in reviews its qualifications,
taken up in their Board meet- compliance with policies, performance and independ-
ings. He ensures that the standards, procedures, and ence. To ensure objectivity in
directors have independent applicable laws and the performance of its duties,
access to Management. The regulations; the external auditor is subject
President and CEO: (i) to the rules on rotation and
communicates and implements • Resources are acquired change, every five years;
the Company’s vision, mission, economically, used general prohibition on hiring by
values and overall strategy and efficiently and are the Company of the external
promotes the appropriate adequately protected; auditor’s staff; and full and
enhancement in the organiza- appropriate disclosure to, and
tion or its stakeholder engage- • Programs, plans and prior approval by, the AC of all

audit and non-audit services Chief Governance Officer Manual), Code of Business
and related fees. Approval of include monitoring compliance Conduct and Ethics (Code of
non-audit work by the external with the provisions and Ethics) and Corporate Social
auditor is principally tested requirements of corporate Responsibility Statement. Our
against the standard of whether governance laws, rules and business principles are threshed
such work will conflict with its regulations, reporting violations out in implementing policies
role as an independent auditor and recommending the including the Supplier/Contrac-
or would compromise its imposition of disciplinary tor Relations Policy, Conflict of
objectivity or independence as actions, and adopting measures Interest Policy, Expanded
such. Our external auditor is to prevent the repetition of Whistleblowing Policy, Policy
SGV & Co., a member practice such violations. The Chief on Gift-Giving Activities, Policy
of EY. Governance Officer assists the on Gifts, Entertainment and
Board and the GNC in the Sponsored Travel, Material
Chief Risk Management Officer performance of their govern- Related Party Transactions
(CRMO) and Group Enterprise ance functions. Under the Policy, Guidelines on Related
Risk Management Department supervision and direction of the Party Transactions, and
(GRMD). The GRMD, under the Chief Governance Officer, the Disclosure Rules, among others.
leadership of the Chief Risk Corporate Governance Office The Company promotes a
Management Officer, imple- (CGO) assists in the implemen- culture of good corporate
ments an integrated risk tation of the corporate govern- governance through the
management program with the ance policies adopted by the implementation of these
goal of identifying, analysing Board. corporate governance (CG)
and managing the PLDT policies, including the CG
Group’s risks to an acceptable Chief Sustainability Officer. The Manual, Code of Ethics and
level so as to enhance opportu- Chief Sustainability Officer related policies. PLDT’s key
nities, reduce threats, and thus heads the Sustainability Office subsidiaries have adopted
sustain competitive advantage. and assists the President and corporate governance rules and
The implementation of the Chief Executive Officer and the policies similar in substance and
enterprise risk management Board in overseeing the Com- form to the foregoing corporate
(ERM) process ensures that pany’s overall sustainability governance policies and suited
critical risks are well under- strategy, and that the Company to their particular business
stood and effectively managed institutionalizes sustainability environments and contexts, and
across all functions and units management towards the appointed their respective
within the PLDT Group. The cultivation of a strong culture corporate governance or
GRMD sets guidelines for the of corporate responsibility. compliance officers.
identification and analysis of
key risk exposures relating to POLICIES AND PRACTICES All CG policies of the Company
economic, environmental, social are reviewed at least once
and governance factors and the PLDT follows the corporate every two years to ensure that
achievement of the organiza- governance and sustainability they are appropriate for PLDT,
tion’s strategic objectives, and standards prescribed by benchmarked with global best
evaluates and categorizes Philippine law or recommended practices, and compliant with
identified risks. It assists in the under rules and regulations of applicable law and regulations.
development of risk mitigation the SEC and the PSE. As a In 2019, PLDT’s Board of
plans for the most important foreign private issuer with Directors reviewed the
risks of the Company. It com- American Depositary Shares Company’s Policy on Gifts,
municates and reports signifi- listed and traded in the NYSE, Entertainment and Sponsored
cant risk exposures, including PLDT also complies with Travel; Policy on Gift-Giving
business risks, control issues governance standards laid out Activities; Expanded
and risk mitigation plan to the in the relevant laws of the US Whistleblowing Policy; and the
Risk Committee. The ERM and rules and regulations of the Supplier/Contractor Relations
process used by the GRMD is US SEC and NYSE. Being an Policy, and determined that
based on the ISO 31000 stand- associated company of First these policies remain compliant
ard on risk management. The Pacific Company Ltd., a compa- with applicable law, regulations
GRMD Head supervises the ny listed in the Hong Kong and best practices and are
entire ERM process and spear- Stock Exchange, PLDT also appropriate for the Company.
heads the development, imple- benchmarks with the
mentation, maintenance and governance standards of CG Manual. Our CG Manual
continuous improvement of Hong Kong. defines our corporate
ERM processes and documen- governance framework and
tation, and communicates the Corporate Governance structure. Supplementary to
top risks and status of imple- Framework. PLDT’s corporate PLDT’s Articles of Incorporation
mentation of risk management governance framework is and By-Laws, it assigns and
strategies and action plans to embodied in the integrated delineates functions and
the Risk Committee and the system of governance struc- responsibilities, and entrusts
Board. tures, policies and processes powers, authorities and
set forth in PLDT’s Articles of resources for the execution of
Chief Governance Officer. The Incorporation, By-Laws, Manual such functions and responsibili-
primary responsibilities of the on Corporate Governance (CG ties. The CG Manual provides,

among other matters, the ed, the person concerned Policy on Gifts, Entertainment
composition and responsibili- should obtain appropriate and Sponsored Travel (Gifts
ties of the Board, the Compa- approvals and inhibit himself Policy) and Policy on Gift-Giv-
ny’s duties towards its share- from any action, transaction or ing Activities. PLDT’s Gifts
holders in general, its minority decision involving an existing or Policy provides safeguards in
shareholders and its other potential COI. The Company the receipt and acceptance of
stakeholders, and the Compa- has established an online COI gifts given by third parties to
ny’s obligation to comply with disclosure system to facilitate ensure that such gifts would
applicable disclosure rules. A the immediate disclosure of not affect the objective, inde-
copy of the CG Manual can be conflicts of interests. pendent or effective perfor-
found at the PLDT website mance by directors, officers
through the following QR code: Material Related Party and employees of their duties
Transactions (MRPT) Policy to the Company. The Policy on
and Guidelines on the Proper Gift-Giving Activities provides
Handling of Related Party guidance and procedural
Transactions (RPT safeguards with respect to
Guidelines). In September 2019, gift-giving activities to govern-
the Board adopted the MRPT ment officials and employees
Policy pursuant to the Compa- and to business partners, for or
ny’s CG Manual and in compli- on behalf of, PLDT. The Policy
ance with SEC Memorandum seeks to ensure that such
Circular No. 10, Series of 2019 activities are compliant with
Code of Business Conduct and or the Rules on Material Related applicable laws, respectful of
Ethics (Code of Ethics). Our Party Transactions for Publicly the intended recipient’s gifts
Code of Ethics defines the Listed Companies. The Policy policy, and consistent with the
Company’s corporate provides the processes, Company’s core values and
governance values of integrity, controls and safeguards for the policies.
accountability, transparency proper handling of related
and fairness, which the party transactions, including Supplier/Contractor Relations
Company shall observe in the review, approval and disclosure, Policy. This Policy establishes
conduct of its business. It sets consistent with applicable laws clear rules for arm’s length
the governance and ethical and regulations. The MRPT transactions and fair treatment
standards that shall govern and Policy applies to related party of prospective and existing
guide all business relationships transactions that meet the suppliers. The Policy specifically
of the Company, its directors, Materiality Threshold as therein adopts the processes of vendor
officers and employees. A copy defined and covers PLDT and accreditation and competitive
of the Code of Ethics is found the PLDT Group. On the other bidding as the general rule to
at the PLDT website through hand, related party transactions ensure that contracts are
the following QR code: that are below the Materiality awarded only to qualified and
Threshold in the MRPT Policy duly-accredited vendors who
are covered by the RPT Guide- offer the best value for money
lines. The RPT Guidelines for PLDT’s requirements.
provides the process of review,
approval and disclosure of the Expanded Whistleblowing
Company’s RPTs that are Policy (EWB Policy). This
subject to review and approval Policy provides guidelines on
by the designated authorities. handling employee disclosures
The review’s principal focus is or complaints regarding (i)
on whether an RPT is on arm’s violations of corporate
length terms and in the best governance rules, including the
The implementation of the interest of PLDT and its share- aforementioned policies; (ii)
Code of Ethics is reinforced by holders as a whole, considering questionable accounting and
enabling policies such as the all relevant circumstances. auditing matters; and (iii)
Supplier/Contractor Relations MRPTs are reviewed by the AC, violations or offenses (other
Policy, Expanded Whistleblow- which is composed entirely of than those in (i) and (ii) above)
ing Policy, Gifts, Entertainment independent directors, and covered by the Company’s
and Sponsored Travel Policy, subject to approval by the Human Resources Manual. The
and Policy on Gift-Giving Board. The Head of Financial EWB Policy protects whistle-
Activities which, in conjunction Reporting and Controllership blowers from retaliation, and to
with the Code of Ethics, Sector, in coordination with the ensure confidentiality and
embodies the Company’s Company’s Disclosure Commit- fairness in the handling of a
anti-corruption policy. tee, is responsible for the disclosure or complaint, PLDT
disclosure of RPTs in the maintains a Whistleblowing
Conflict of Interest Policy. This relevant financial reports of the Hotline and other reporting
policy enjoins PLDT’s directors, Company as required under facilities, such as a dedicated
employees and consultants to Philippine Accounting Standard electronic mailbox, post office
promptly disclose conflict of 24, Related Party Disclosures, box and facsimile transmission
interest (COI) situations to the and other applicable disclosure system. All employees and
relevant authorities. If warrant- requirements. stakeholders who come

forward in good faith to report on retaliation in 2019. However, prevent, and respond to
violations or any act that may SMART received three new attacks;
be considered as contrary to concerns that fall under the
the Company’s values may jurisdiction of line management. • contained and responded to
submit a disclosure or com- security incidents within less
plaint regarding such violation Protection of Technology than one minute, on average;
to the CGO. Anonymous Resources and Information.
disclosures or complaints are PLDT has a Unified Information • prevented attacks to our
allowed and duly processed, Technology Policy that is corporate websites through
subject to certain conditions. applicable to PLDT, SMART enrollment to our web
In all processes and activities and Digitel Mobile Philippines, application firewall;
related to a whistleblowing Inc., and which contains policy
disclosure/complaint, utmost statements on social media and • automated the access review
confidentiality is observed in data privacy, and provides for of all SOX applications;
order to ensure the integrity of the protection of information
the process and protect the assets and the proper use of • blocked access to phishing,
parties, employees or officers technology resources. scamming and malware-
who are allegedly involved distribution sites;
therein. The Chief Information Security
Officer (CISO) was appointed in • identified and added
For 2019, there were two new 2018 to oversee the implemen- indicators of compromise in
whistleblowing complaints tation and management of our threat intelligent
received by the CGO. One case information and cyber security database used for real-time
was deemed closed while the processes, especially regarding threat correlation;
other case is under preliminary compliance with the business
evaluation. The complaints directions and applicable local • expanded security visibility
covered allegations of violation and international laws and by enrolling active IP-based
of the Code of Ethics, Policy on regulations. PLDT also estab assets to our 24x7 Security
Gifts, Entertainment and lished the Cyber Security Operations Center; and
Sponsored Travel, Supplier/ Operations Group, headed by
Contractor Relations Policy and the CISO, to create, implement • conducted various
the Human Resources Manual. and operate the Information campaigns, through weekly
The three cases, which were Security Management Systems awareness and phishing
under investigation/administra- framework and to support the testing, to address the
tive proceeding as of December review and update of the human aspect of cyber
31, 2018, were closed in 2019. security policy. security. Anchored on
No complaint on retaliation was the belief that our employees
received in 2019. Moreover, In 2019, the group cyber are an integral part of our
CGO received five concerns security strategy was calibrated strategy, it becomes crucial
that fall under the jurisdiction of to focus its efforts and to shape behavior and
line Management, which were resources in protecting the motivate employees to make
referred to the subject employ- company’s critical assets. It risk-based decisions, and to
ees’ respective immediate continued operationalizing its do the right thing. Bottom-up
heads for further evaluation and cyber security operations engagement of employees is
handling. SMART, PLDT Global framework and as a result, one key success factor
Corporation, ePLDT, Inc., and achieved the following: employed for effective
Digitel, and the latter’s subsidi- cyber security program
ary, Digitel Mobile Philippines, • full deployment of endpoint execution.
Inc. did not receive any whistle- security to all corporate
blowing complaint or complaint workstations to detect, The PLDT Group continues to
RESTRICTIONS ON BUYING AND/OR SELLING PLDT SHARES
PLDT 2019 Results/Reports 2019 Results/Reports Release Date 2019 Blackout Periods
Q1 May 9 April 24 – May 14
Q2 August 8 July 24 – August 13*
Q3 November 7 October 23 – November 11
Full Year March 5, 2020 February 4 – March 9, 2020
Full Year (Audited) April 2, 2020 February 4 – April 6, 2020**

* Trading restriction period was extended to August 13, 2019 due to the declaration of August 12, 2019 as a special non-working holiday.
** Trading restriction period was based on a Results/Reports Release Date of March 20, rescheduled to April 2, 2020.

The Company has clear policies regarding trading by Directors, Officers and employees in the
Company's own securities intended to align their interests with those of the shareholders and other
stakeholders. Trading in Company shares by directors and officers in the year 2019 are set forth in the
table below.
2019 SHAREHOLDINGS OF DIRECTORS AND OFFICERS
Number of PLDT Shares¹
Starting
Acquired Disposed Ending Balance³
Balance²
A. Directors
Manuel V. Pangilinan 258,956 10,975 2,320 267,611
Helen Y. Dee 25,080⁴ 25,080
Ray C. Espinosa 18,743 3,000 21,743
James L. Go 240,209 535,945 776,154
Shigeki Hayashi 1 1
Junichi Igarashi 1 1
Aurora C. Ignacio⁵ 1 1
Bernido H. Liu 1 1
Artemio V. Panganiban 1,771 1,771
Ma. Lourdes C. Rausa-Chan 2,400 4,100 6,500
Albert F. del Rosario 142,410 142,410
Pedro E. Roxas 231 231
Marife B. Zamora 5 5
B. Officers
Alfredo S. Panlilio⁶ 3,000⁷ 3,000
Anabelle L. Chua 15,828 4,750 20,578
Victorico P. Vargas 5,270 4,750 475 9,545
Marilyn A. Victorio-Aquino 0 0
Gina Marina P. Ordoñez 2,199 1,500 465 3,234
Alejandro O. Caeg 3,500 4,100 1,435 6,165
Juan Victor I. Hernandez 3,300 4,320 5,235 2,385
Menardo G. Jimenez, Jr. 2,229 4,100 1,435 4,894
June Cheryl A. Cabal-Revilla 2,425 4,100 1,435 5,090
Oscar Enrico A. Reyes⁸ 3,370 4,335 1,435 6,270
Florentino D. Mabasa, Jr. 841 1,500 480 1,861
Katrina L. Abelarde 1,027 1,860 651 2,236
Marco Alejandro T. Borlongan 1,200 1,650 577 2,273
Mary Julie C. Carceller⁹ 0⁷ 0
Alfredo B. Carrera¹⁰ 1,143 1,500 465 2,178
Bernard H. Castro¹¹ 0⁷ 0
Marisa V. Conde 500 625 1,125
Mary Rose L. Dela Paz¹² 2,480⁷ 2,480
Gil Samson D. Garcia 0 625 622 3
Joseph Ian G. Gendrano 500 625 193 932
Ma. Criselda B. Guhit 1,750 625 181 2,194
Leah Camilla R. Besa-Jimenez 1,200 1500 2,700
Princesita P. Katigbak 500 650 195 955
Albert Mitchell L. Locsin 1,083 1500 1,060 1,523
Leo I. Posadas 1,210 1,500 525 2,185
Dale M. Ramos 1,100 1,300 455 1,945
Aileen D. Regio 17 1,500 245 1,272
Luis S. Reñon 0 1,500 525 975
Martin T. Rio 847 1,500 465 1,882
Juan Alfonso D. Suarez 0 0
Emiliano R. Tanchico, Jr. 2,739 1,500 480 3,759
Victor Y. Tria 352 1,500 465 1,387
Melissa V. Vergel De Dios 1,200 1,500 465 2,235
Maria Cecilia H. Abad 270 270 83 457

2019 SHAREHOLDINGS OF DIRECTORS AND OFFICERS
Number of PLDT Shares¹
Starting
Acquired Disposed Ending Balance³
Balance²
B. Officers
Minerva M. Agas 500 625 1,125
Benedict Patrick V. Alcoseba 254 625 879
Christopher B. Almazan¹³ 0⁷ 0
Elizabeth S. Andojar 370 220 590
Roy Victor E. Añonuevo¹⁴ 440⁷ 440
Tito Rodolfo B. Aquino, Jr. 170 220 390
Mitchie M. Arcaina¹⁵ 0⁷ 0
Jerameel A. Azurin 360 625 181 804
Rafael M. Bejar 500 625 175 950
Wilson S. Bobier¹⁴ 442⁷ 442
Luis Gregorio D. Casas¹⁴ 190⁷ 190
Ma. Monica M. Consing¹⁶ 0⁷ 0
Gene S. de Guzman 363 625 181 807
Joan A. De Venecia-Fabul¹⁷ 0⁷ 0
Aniceto M. Franco III¹⁸ 458⁷ 458
Elisa B. Gesalta¹³ 500 500 1,000
John John R. Gonzales 359 625 181 803
Ma. Gillian Y. Gonzales¹³ 291 625 916
Silverio S. Ibay, Jr. 170 625 795
Gary F. Ignacio 170 625 187 608
Marven S. Jardiel 500 625 181 944
Alexander S. Kibanoff 500 625 181 944
Javier C. Lagdameo 500 625 1,125
Czar Christopher S. Lopez 170 950 1,120
Paolo Jose C. Lopez 500 600 1,100
Ma. Carmela F. Luque 500 625 1,125
Melanie A. Manuel 125 220 345
Ronaldo David R. Mendoza 125 220 345
Mary Eleanor Lydia P. Nadal-Wei¹⁹ 0⁷ 0
Oliver Carlos G. Odulio 359 625 984
Carlo S. Ople 355 675 202 828
Harold Kim A. Orbase 302 625 927 0
Charles Louis L. Orcena 0 0
Raymond A. Racho¹⁴ 406⁷ 406
Eduardo H. Rafuson 170 220 390
Ricardo C. Rodriguez 5,712 5,712
Genaro C. Sanchez 4,960 625 187 5,398
Maria Christina C. Semira 200 625 181 644
Ma. Merceditas T. Siapuatco 170 625 795
Arvin L. Siena 550 625 187 988
Carla Elena A. Tabuena 418 625 181 862
Patrick S. Tang 928 675 195 1,408
Jecyn Aimee C. Teng 170 220 63 327
Milan M. Topacio¹⁴ 346⁷ 346
John Henri C. Yanez 170 675 202 643
Radames Vittorio B. Zalameda 0 625 193 432
¹ Includes directly and indirectly owned shares in the Company. Changes in in a meeting held on November 7, 2019
shareholdings were disclosed in the Statements of Changes in Beneficial Ownership of ¹⁰ Retired from service effective February 01, 2020
Securities filed with the Securities Exchange Commission and Philippine Stock ¹¹ Appointment as First Vice President effective July 31, 2019 was confirmed by the Board
Exchange, Inc. and posted on the Company website at PLDT Investor Relations> in a meeting held on August 8, 2019
Shareholder Information>Beneficial Ownership ¹² Appointment as First Vice President effective July 16, 2019 was confirmed by the Board
² As at December 31, 2018 in a meeting held on August 8, 2019
² As at December 31, 2019 ¹³ Separated from service effective January 1, 2020
⁴ Includes 2,780 shares for the account of Michelle Y. Dee-Santos and 245 shares under ¹⁴ Promoted to Vice President effective November 7, 2019
the name of Helen Y. Dee, both under PCD Nominee Corporation and 21,957 shares ¹⁵ Appointment as Vice President effective June 17, 2019 was confirmed by the Board in a
owned by Hydee Management Corporation. As chairperson and president of Hydee meeting held on November 7, 2019
Management Corporation, Ms. Dee may exercise the voting right in respect of the ¹⁶ Appointment as Vice President effective January 7, 2019 was confirmed by the Board in
21,957 shares of Hydee Management Corporation a meeting held on August 8, 2019
⁵ Resigned as representative director of the Social Security System effective ¹⁷ Appointment as Vice President effective April 1, 2019 was confirmed by the Board in a
January 28, 2020 meeting held on August 8, 2019
⁶ Appointment as Chief Revenue Officer effective July 01, 2019 was confirmed by the ¹⁸ Appointment as Vice President effective January 16, 2019 was confirmed by the Board
Board in a meeting held on May 9, 2019 in a meeting held on November 7, 2019
⁷ As of date of appointment as officer ¹⁹ Appointment as Vice President effective August 26, 2019 was confirmed by the Board
⁸ Separation from service effective February 28, 2020 in a meeting held on November 7, 2019
⁹ Appointment as First Vice President effective July 31, 2019 was confirmed by the Board

strive to protect the delivery of the Cyber Security Operations TRAINING AND EDUCATION
digital services that the organi- Group, the inaugural PLDT
zation needs to be successful, Group Data Privacy and Cyber The Company provides
agile and resilient. Beyond Security Summit was held in orientation and continuous
protection, the Group aims to September, which gathered training for its Board, Manage-
continue its pursuit of over 300 leaders and execu- ment and employees. New
cyber security operational tives from across the PLDT directors are briefed by the
excellence, mature and sustain Group. Supported by the Top Chairman, President and CEO,
its competencies and serve as a Management Team, the Summit Chief Financial Officer, Corpo-
frontline contributor to the was also graced by Commis- rate Secretary, and Chief
growth of the business. sioner Raymond Liboro of the Governance Officer on the
Philippines‘ National Privacy Company’s structure, business,
Personal Data Protection. The Commission (NPC), who operating and financial high-
PLDT Group values the trust it delivered the keynote address. lights, responsibilities of the
earns from its customers. It is The DPO’s institutional Privacy Board and its Committees and
this trust that fuels the Data Campaign called “Handle With how each operates. At or
Privacy Office (DPO)’s objec- Care” was also recognized and before such orientation, copies
tive to protect the personal awarded by the Public Rela- of all relevant corporate docu-
data of the Group’s data tions Society of the Philippines ments, including the Company’s
subjects. (Anvil Awards), the National Articles of Incorporation,
Association of Data Protection By-laws, Annual Report, CG
Driven by the vision to be a Officers of the Philippines Manual, Code of Ethics, and the
Center of Excellence in Privacy (Datos Privados Awards), and Charters of the Board Commit-
and Personal Data Protection in the International Association of tees are furnished to new
the country, and a leader in the Business Communicators directors. For the continuous
local and global privacy com- (Philippine Quill Awards). training of its directors and
munity, the DPO aims to PLDT’s Chief Data Privacy officers, the Company conducts
continuously uphold the privacy Officer, Ms. Leah an Annual In-House Corporate
rights of customers and Camilla B. Jimenez, also Governance Enhancement
empower the PLDT Group to received the distinction of Session (ACGES) that provides
bring responsible innovations to being elected the first president an opportunity for leadership to
the Filipino market by instilling of the Data Privacy Council of engage in discussion with
a Culture of Privacy in the the Philippines. international and local experts
workplace. Nurturing a Culture on relevant topics, including
of Privacy amongst employees Blackout Periods/Restriction emerging trends and technolo-
is also necessary to further the on Trading of Shares. PLDT’s gies, new laws, and best
organization’s privacy maturity. Code of Ethics prohibits direc- business practices.
It is in this light that the DPO tors, officers and employees
continuously defines, and from dealing in the Company’s In 2019, the Company’s ACGES
enforces policies approved by shares when in possession of was conducted on the topics:
the respective Companies‘ material non-public information (i) 5G Technology Strategy and
Boards, that govern the proper about and involving the Com- Governance: Market Trends and
use and disclosure of personal pany. During blackout periods, New Business Applications,
data. It has also taken meaning- dealing in Company shares by Risks and Challenges; and (ii)
ful steps toward steering the directors, officers, and employ- Cyber Security: Protecting
organization to a heightened ees in possession of material Critical Business Infrastructure.
state of maturity through the non-public information is It included panel discussions
development of a “Privacy prohibited and in any excep- among directors, officers, and
Maturity Framework” for the tional case, prior notice to the resource persons; live stream-
PLDT Group. Company should be made of ing of speaker presentations to
any such dealing in Company PLDT and SMART executives,
The DPO is committed to shares, in accordance with the and digital support throughout
respect and protect customers’ Company’s Policy on Blackout the event. The ACGES was
fundamental right to privacy by Period/Restriction on Trading attended by members of
providing meaningful advice of Shares. Directors and officers PLDT’s Advisory Board/Com-
and guidance to the various are enjoined to report to the mittee, nine of PLDT’s thirteen
stakeholders in the organization Company their dealings in the Directors, and 71 of the Compa-
regarding the latest privacy Company’s shares, regardless ny’s Officers. PLDT Directors
regulations, principles, and best of whether such dealings were who were unable to attend the
practices. effected during or outside ACGES attended external
the blackout periods, within corporate governance trainings
In 2019, the DPO ramped up the three trading days from the accredited by the SEC. One of
PLDT Group’s compliance effort date of the transaction, to our directors, Mr. James L. Go,
by adding to its roster of enable the timely filing of the has been granted by the SEC
privacy practitioners who have required disclosures to the SEC permanent exemption from its
obtained certifications from the and the PSE. corporate governance training
International Association of requirement. Updates on
Privacy Professionals’ Certifica- business and governance
tion Programs. Together with policies and requirements, and

In the ACGES, left to right: (1) PLDT and SMART’s Head of Public Affairs and Host, Mr. Ramon R. Isberto; (2) PLDT Audit Committee Advisor, Ms. Corazon S. dela Paz-Bernardo; the Chairman, President & CEO, Mr. Manuel V.
Pangilinan; and MPIC Director, Mr. Edward S. Go; and (3) Mr. Manuel V. Pangilinan delivering the Welcome Remarks.
new laws applicable or relevant mance as the Board, as well as conform with the recommenda-
to the Company and its each Board Committee, and the tion in the CG Code for PLCs.
business are presented in Board individual directors. The annual Additionally, in 2019, PLDT
meetings or furnished to process, which also includes an monitored and evaluated its
directors. evaluation of the performance compliance with CG rules
of the CEO and Management, through a cross-functional
For employees, the Company enables the Board to identify evaluation system whereby the
conducts orientation and strengths and areas for heads of the various business
periodic training sessions on improvement and to elicit and support groups/units
Company policies, including individual director’s feedback conduct an evaluation of their
corporate governance policies; and views on the Company’s group/unit’s CG compliance.
skills building; and wellness and strategy, performance and The periodic process uses an
development, supplemented future direction. Each year, evaluation questionnaire
with appropriate communica- Board Committees also consisting of the governance
tion materials and feedback conduct an annual self-assess- standards set forth in the CG
mechanisms. In addition to ment of its performance. The Code for PLCs which are
orientation sessions on corpo- members of the Board and the applicable and relevant to their
rate governance policies for Board Committees accomplish respective functions. The
new employees, in 2019, the their respective self-assessment results of the evaluation
Company also conducted questionnaires for this purpose. conducted by the heads are
corporate governance refresher consolidated as input to the
courses for newly-promoted Additionally, the Board and Company’s Integrated Annual
PLDT executives, while a Board Committees’ assessment Corporate Governance Report
corporate governance eLearn- questionnaires contained the (I-ACGR) submitted to the SEC
ing refresher course was following criteria based on and PSE.
conducted across the ranks. leading practices and principles
Education and training is on good governance: (i) for the PLDT likewise confirmed its
supplemented by the produc- Board – Structure, Leadership, compliance with its CG Manual
tion and dissemination of Roles and Responsibilities, which contains relevant
relevant communication Internal Control, Code of provisions of the CG Code for
materials, including thematic Conduct and other CG Policies, PLCs and certain corporate
posters and calendars and Independence, Stewardship, governance standards under
advisories on corporate Resources, Internal Governance, the US Securities Exchange Act
governance. Reporting and Disclosure, and and NYSE Listed Company
Shareholder and other Stake- Manual. In compliance with the
MONITORING AND holder Engagement; (ii) for the respective memorandum
EVALUATION Board Committees – the circulars of the SEC and the
respective purposes, functions PSE, PLDT filed its I-ACGR on
PLDT monitors and evaluates and duties of the Committees; May 29, 2019.
the effectiveness of its corpo- and (iii) for individual directors
rate governance through the – the specific duties and In line with all these, PLDT has
following, among other initia- responsibilities of a director. On incorporated CG standards in
tives: (i) an annual performance the other hand, the Board the performance evaluation of
self-assessment conducted by Committees’ self-assessment employees and has included
the Board and the Board questionnaire contained the violations of CG rules as a cause
Committees, (ii) the periodic following criteria: performance, for disqualification from incen-
review of the effectiveness of compliance and committee tives and rewards in its Policy
the implementation of the governance. The report on the on Employee Qualification for
Company’s CG policies, (iii) the results of the assessment Incentives and Rewards.
annual compliance evaluation process for the 2018 perfor- As applicable, PLDT conducts
conducted by Management, mance period was submitted to focus group discussions and
and other tools employed to the directors in 2019. Prospec- employee surveys in order to
monitor the implementation of tively, the annual self-assess- gain insights into the effective-
the CG policies. ment shall, as practicable, be ness of its CG programs and
supported by an external initiatives. Valuable information
In 2019, an annual self-assess- facilitator every three years and is also obtained and analysed
ment was conducted by the allow for a feedback mecha- from the results of and feed-
Board to evaluate its perfor- nism for stockholders, to back from our education

In the ACGES, left to right: (1) 5G Technology panel discussion, PLDT Advisory Board/Committee member Mr. Roberto R. Romulo; (2) Cyber security speakers, Mr. Rob Partridge and Mr. Craig A. Gonzales; and (3) 5G
Technology speaker, Ms. Claudia Hyunah Park.
activities, reports from business minutes of Board meetings and of total outstanding capital
partners, customer complaints, stock registries, subject to present or represented by
reported violations and other certain conditions; right to proxy in the meeting. To view
sources of relevant information. timely receive relevant informa- the Minutes of the 2019
tion, whether in printed or PLDT Annual Stockholders’
STAKEHOLDER ENGAGEMENT digital form; right to dividends; Meeting, please access this QR
and appraisal right. code:
In fulfilling our commitments to
our stakeholders, we are guided The Board promotes transpar-
by our Code of Ethics and ency and fairness in the
Corporate Social Responsibility conduct of the annual and
Statement (CSR Statement). special stockholders’ meetings
The CSR Statement is the of the Company and explores
articulation of our belief that and implements steps to reduce
helping to improve the overall excessive or unnecessary costs
well-being of the Filipino people and other administrative
is an integral part of our impediments to stockholders’
business. The CSR Statement participation in annual and The Board ensures that material
enumerates the broad special stockholders’ meetings. information and transactions
responsibilities that PLDT Stockholders are encouraged to that could potentially affect the
assumes as it operates and personally attend such meet- market price of the Company’s
conducts its business. A copy of ings, raise questions and shares are timely disclosed and
the CSR Statement is found at exercise their voting rights. filed with the SEC, PSE and as
the PLDT website through the applicable, with the US SEC and
following QR code: Within a reasonable period of NYSE. In this regard, informa-
time before the meeting, tion on, among other matters,
stockholders are apprised of earnings results, acquisition or
their right to appoint a proxy in disposal of significant assets, off
case they are unable to person- balance-sheet transactions,
ally attend such meetings, and related party transactions,
give their voting instructions in Board membership changes,
the proxy form provided. shareholdings of directors and
Relevant meeting materials officers and any changes
such as the Notice, Agenda, thereto, and remuneration of
Information Statement and directors and officers are
Pursuant to the CSR Statement, Annual Report are made promptly and accurately
the PLDT Group’s social available to the stockholders in disclosed.
programs leverage its commu- printed or digital form and
nications and digital services through the Company’s website PLDT regularly conducts
and the volunteer spirit of its to enable them to make a sound analysts and investors’ briefings
employees to implement and informed judgment on all to discuss financial and operat-
projects in education, agriliveli- matters tabled for their consid- ing results for the second
hood, disaster preparedness, eration or approval. The Board quarter and full year, and
the environment, digital tourism ensures the disclosure and filing teleconferences to discuss first
and sports that aim to help of reports with the SEC, PSE and third quarter results. Our
Filipinos change their lives for and, as applicable, US SEC and Investor Relations Center also
the better. The Company’s CSR NYSE and posting on the conducts regular dialogues with
programs and activities are Company’s website, our investors. Shareholders who
reported in the Company’s immediately after the meeting wish to raise matters or
Sustainability Report that is or the day after the meeting, of concerns relating to the
released annually since 2016. all significant actions taken in business of the Company, their
the meeting and the votes investments and rights may
Investors/Shareholders. PLDT obtained for each of such elevate such matters to the
respects, promotes and upholds actions. Corporate Secretary, the
shareholders’ rights such as, the Investor Relations Officer,
right to vote; preemptive right; The Company held its Annual concerned units of PLDT’s
the right to inspect corporate Stockholders’ Meeting on June Management or the Board.
books and records, including 11, 2019, with holders of 86.19%

In the ACGES, left to right: (1) 5G Technology speaker, Dr. Byungsuk Kim; (2) 5G Technology panel discussion, PLDT Lead Independent Director, Retired Chief Justice Artemio V. Panganiban; and (3) Cyber Security panel
discussion moderator, PLDT Group Deputy Chief Information Security Officer, Ms. Marilene P. Tayag with panelists: Maynilad Head of IT Security and Data Protection Officer, Mr. Francis Noel A. Hernandez; PLDT Group
Chief Information Security Officer, Mr. Angel T. Redoble; PLDT Group Chief Data Privacy Officer, Ms. Leah Camilla B. Jimenez; and speakers, Mr. Rob Partridge and Mr. Craig A. Gonzales.
The Company’s dividend policy continuously improve on • Keeping customers informed.

provides a regular dividend customer support services and Customers who will be
payout rate of 60% of Core engagement: affected by scheduled
Earnings Per Share as regular maintenance and network
dividends. The dividend policy • Speed Boost for loyal upgrade activities are given
takes into account: (i) the customers. Eligible proactive notifications.
elevated levels of capital customers were given higher Customer education efforts
expenditures to build a robust, internet speeds for the same also increased in 2019, with
superior network to support the subscription plan, at no PLDT sharing more billing &
continued growth of data additional cost. payment tips,
traffic; (ii) plans to invest in new troubleshooting guidelines,
adjacent businesses that will • Other channels to buy our and other information that
complement the current products. Off-the-shelf are relevant to our customers
business and provide future products launched in 2019 via social media and the
sources of profits and such as the PLDT Prepaid company’s website support
dividends; and (iii) manage- Home Wifi were made page.
ment of cash and gearing available in the online retail
levels. In the event that no store Lazada. This is • Alternative service. PLDT
investment opportunities arise, consistent with the intent of continuously strives to
the Company may consider the making our products and provide fault-free services to
option of returning additional services easily accessible to all its customers. However, in
cash to shareholders in the prospective customers. exigent situations involving
form of special dividends or service interruptions, PLDT
share buybacks. PLDT was able • Improved hotline call has started to provide
to pay out approximately 60% experience. After introducing alternative services to its
of its core earnings for the year the unified customer care broadband customers using
2019. Information on PLDT’s number 171 in 2018, PLDT data load top ups or
2019 Dividend Declarations is continued to improve its providing home wifi devices
available at: hotline services by to ensure service continuity.
introducing a new and
improved Interactive Voice • Proactive Fibr migration.
Response System (IVRS). In Proactive offering of
addition to customer migration whenever a Fibr
enabling features such as facility is available is being
reporting payments and done for customers who
self-service reconnection, engaged through our
customers are also now able channels.
to request a callback, receive
updates via SMS, and know • Technology Talks. The Visual
Customers. PLDT serves a the estimated holding time Arts Competition Talk Series
broad range of customers from before their call is answered. was introduced in 2019 as
individuals, residential, micro, part of activities in the annual
small and medium enterprise • Issue resolution. Efforts were PLDT-DPC Visual Arts
(SME) and large enterprise, introduced in 2019 to PLDT’s Competition. It involved
including the public sector. technical support services to lectures delivered by art
PLDT strives to satisfy its improve remote issue experts that provided an
customers’ requirements and resolution, therefore reducing alternative classroom
expectations regarding innova- the need for most customers learning experience and
tive products and services, to wait for a technician to encouraged young Filipino
quality of service, pricing, visit and check on their Fine Arts students to
application process, service service. First Contact showcase their skill in visual
provisioning process, repair and Resolution for internet- arts. To reach a wider
restoration service and the related technical issues has audience, the Talk Series was
billing process. improved significantly from streamed online through the
previous year. PLDT Home Facebook page
In 2019, the following were powered by PLDT Home.
completed, among others, to

Left to right: (1) PLDT Chairman, President & CEO, Mr. Manuel V. Pangilinan; (2) PLDT Director, Atty. Ray C. Espinosa; and (3) PLDT Advisory Board/Committee member, Mr. Oscar S. Reyes; Director, Ms. Helen Y. Dee;
Director, Mr. Shigeki Hayashi; Independent Director, Retired Chief Justice Artemio V. Panganiban; and Advisory Board/Committee member, Mr. Roberto R. Romulo.
Employees. PLDT respects the To support the success of the special interest groups, and
dignity, rights, and interests of ongoing organization transfor- family oriented programs.
its employees, among which are mation, PLDT has renewed its Formal channels for employee
the right to self-organization, talent strategy to remain feedback are made available
safe and healthy working relevant to the business and the through engagement surveys
conditions, professional devel- talent market. Working with the conducted at regular intervals
opment, and community-build- Leaders on present require- to give employees the opportu-
ing social activities. The value ments is an urgent groundwork nity to share their perspectives
of employees to the business is activity while building the talent about relevant Company
underscored by the inclusion of pipeline and ecosystem for the matters. Digital and social
people and culture transforma- next horizon of products and platforms are optimized for
tion among the shared Compa- services becomes a strategic employee crowdsourcing and
ny goals. Identifying, develop- priority. This includes the internal communication.
ing, and retaining talent is a creation and application of Management-led digital
core responsibility and account- programs for Leadership dialogues provide opportunity
ability of every leader. Development and Top Talents, for employees across various
Anchored on the foundational series of targeted hiring in local parts of the country to directly
premise that the Company’s and global markets who will interact and voice out their
treatment of its employees will form part of the Executive suggestions and recommenda-
influence how employees, in Development Pipeline as well as tions to top management.
turn, deliver service to custom- Management Associate pool
ers, PLDT embeds employee and the introduction of a Regulators. PLDT operates
experience at the core of all revitalized internship play to within relevant legislative and
people initiatives, programs, re-shape our new foundational regulatory frameworks and
and processes. Three principles footprint in the academe. complies with the requirements
guide the employee experience A digital environment requires a thereunder which are applicable
design: leader-led, employee strong learning and develop- to it. We participate in public
-owned, digital-enabled. ment ecosystem. PLDT’s policy forums, conferences and
The vision for digital market comprehensive corporate hearings conducted by govern-
leadership is hinged on a university that utilizes a combi- mental and regulatory agencies
high-performing culture, and nation of classroom and mobile relative to initiatives in the
PLDT continuously engages learning methodologies, fields of Information and
employees to aspire for this supports the organization’s Communication Technology
goal by aligning groups and capability-building needs. (ICT), corporate governance
individuals to the Company’s Adequate opportunity for and labor-related matters. Our
shared goals and ensuring that career management and “Internet for All” advocacy and
the Company’s performance development is provided to investments in network infra-
management system is perfor- employees. The digital curricu- structure and technologies to
mance-driven and coaching lum Workforce Learning 2020 provide the widest coverage
centered. A digital platform has anchors on the digital transfor- and superior quality of service
been implemented to enable a mation skills requirements, new at affordable prices are aligned
standard performance manage- leadership competency man- with and support the Govern-
ment system across PLDT and dates, 2020 technologies for ment’s objectives set out in the
SMART. Supporting the objec- fixed and wireless, and founda- Public Telecommunications
tive of shaping a high-perform- tional compliance training Policy Act.
ing culture is a Total Rewards requirements such as Data
Program that is merit-based Privacy. Suppliers. PLDT aspires to
and addresses both short-term maintain mutually beneficial
and long-term transformation PLDT organizes engagement relationships only with like
goals. Compensation and programs that prioritize the principled suppliers that uphold
incentives are determined on well-being of employees and PLDT’s core values of fairness,
the bases of performance and strengthen the quality of work accountability, integrity and
accomplishment. Two major relationships. These allow transparency in their own
rewards programs are in place; employees to engage in a businesses. Suppliers are
the Short-term Incentive Plan broad range of character-devel- required to undergo an accredi-
(STIP) and the Transformation oping and relationship building tation process before they
Incentive Plan (TIP). activities through CSR, sports, engage in business with PLDT.

Among the criteria for accredi- making technology accessible whistleblowing system, third
tation are financial and techni- to all. With their technology party due diligence, and
cal capability, compliance with and services, PLDT and SMART support for and participation in
applicable laws, including those are well-positioned to provide multi-sectoral anticorruption
pertaining to industrial much needed assistance to initiatives to eliminate graft and
relations, environment, health communities. Their role and corruption.
and safety, and intellectual core competence is that of an
property rights. The Company’s ‘enabler’—providing the techni- PLDT continues to work with
purchases, as a general rule, are cal skills, technologies and institutions and organizations
made on the basis of competi- resources in key areas where engaged in programs and
tive bidding among accredited PLDT and SMART have chosen advocacy efforts in the corpo-
and qualified suppliers. to help develop communities: rate governance, compliance
education, livelihood, disaster and business ethics field. As a
Creditors. In accordance with preparedness and response, sponsoring partner member of
our Code of Ethics, we protect environment, and agriculture. the Ethics and Compliance
the rights of our creditors by Initiative (ECI), PLDT has access
publicly disclosing all material ADVOCACY AND to ECI’s vast online library on
information, such as earnings NETWORKING governance and related topics
results and risk exposures and opportunities to interact
relating to loan covenants. Our PLDT supports the advocacy with other governance and
disclosure controls and proce- for better governance and ethics professionals around the
dures also include periodic ethics in business as manifested world, and is able to benchmark
reports to our creditors such as in the Company’s policy against its governance practices
our latest certified financial corruption and bribery set forth against those of leading com-
statements, no default certifica- in its Code of Ethics and panies. Locally, PLDT is a
tion, and certification on reinforced in specific policies premium member of the
compliance with financial ratio such as the Policy on Gift-Giv- Integrity Initiative, Inc. and a
limits. PLDT’s credit has been ing Activities, Gifts Policy, member of the Good Govern-
rated at investment grade by Supplier/Contractor Relations ance Advocates and Practition-
the three major international Policy, Corporate Governance ers of the Philippines (GGAPP).
credit rating agencies. Guidelines for Suppliers, which PLDT also participates in the
prohibit bribery or acts which activities of the Institute of
Communities. In the spirit of may be construed as bribery Corporate Directors (ICD) and
service to Filipino communities, involving third parties in its sister-institute in the public
the PLDT Group continues to business dealings with the sector, the Institute for Solidari-
build on its CSR programs by Company. These policies are ty in Asia (ISA).
leveraging on its expertise, implemented through anti-cor-
technological strength, and ruption programs and measures
corporate culture. Serving the such as internal controls,
community is an integral part of training and communication,
PLDT recognizes that corporate governance will be one

of the key factors in its business transformation journey.
The Company’s determined focus to achieve its Mission
and strategic objectives shall be sustained by
PLDT’s commitment to its customers, shareholders,
employees and other stakeholders and adherence
to the principles of good governance.

and documentation, and communicates the top
risks and status of implementation of risk
ENTERPRISE management strategies and action plans to the

Risk Committee and the Board.
RISK PLDT Group Top Risks

The GRMD promulgates and encourages the
MANAGEMENT
adoption of a standard risk evaluation process
focused on the need to properly identify, analyze,
evaluate, treat and monitor risks that may affect
The Board, with the assistance of the Risk Committee, the achievement of business objectives. The ERM
fulfills its oversight responsibilities for the Company’s process being implemented is based on the
assessment and management of enterprise risks. It International Standard of ISO 31000. A risk
reviews and discusses with Management the assessment exercise was undertaken by the Top
Company’s major risk exposures and the Management Team to identify and prioritize the
corresponding risk mitigation measures. most important risks affecting the PLDT Group for
2019. The top risks, listed in no particular order of
criticality, were (i) customer experience issues and
Risk Committee (RC) reputational risks, (ii) delivery of transformation
Our RC is composed of five voting members, all of initiatives, (iii) operational inefficiencies (iv)
whom are regular members of our Board of competitive situation and economic conditions;
Directors. Three of the voting members are (v) rapid speed of disruptive innovations and new
independent directors, namely, Mr. Pedro E. Roxas, technologies; (vi) regulatory changes/scrutiny;
Mr. Bernido H. Liu and Retired Supreme Court (vii) privacy/identity management challenges and
Chief Justice Artemio V. Panganiban, who is the increase in information security issues; (viii)
chairman of this committee, and two are people risks; (ix) financial risks; and (x) regular
non-executive, non-independent directors, namely, occurrence of natural disasters. Treatment
Mr. Junichi Igarashi and Mr. James L. Go. The RC strategies have been developed, and mitigation
assists the Board in the performance of its initiatives have been put in place. Risk management
functions to: (i) oversee Management’s adoption activities are continuously monitored and reviewed
and implementation of a system for identifying, to ensure that critical risks are appropriately
assessing, monitoring and managing key risk addressed across the organization.
areas; (ii) review Management’s reports on the
Company’s major risk exposures; and (iii) review
Management’s plans and actions to minimize,
control or manage the impact of such risks. The
purposes, duties and powers of the RC are set
forth in the RC Charter.
ISO 31000: RISK MANAGEMENT PROCESS
Chief Risk Management Officer and Group
Enterprise Risk Management Department
(GRMD)
The GRMD, under the leadership of the Chief Risk
ESTABLISH THE CONTEXT
COMMUNICATE AND CONSULT
Management Officer, implements an integrated

risk management program with the goal of MONITOR AND REVIEW
identifying, analyzing and managing the PLDT
RISK ASSESSMENT
Group’s risks to an acceptable level, so as to

enhance opportunities, reduce threats, and thus IDENTIFY RISKS
sustain competitive advantage. The implementation
of the enterprise risk management (ERM) process
ensures that critical risks are well understood and
effectively managed across all functions and units ANALYZE RISKS
within the PLDT Group. The GRMD sets guidelines
for the identification and analysis of key risk
exposures relating to economic, environmental,
social and governance factors and the achievement EVALUATE RISKS
of the organization’s strategic objectives, evaluates
and categorizes identified risks. It assists on the
development of risk mitigation plans for the most
important risks of the Company. It communicates TREAT RISKS
and reports significant risk exposures, including
business risks, control issues and risk mitigation
plan to the Risk Committee. The ERM process
used by the GRMD is based on the ISO 31000
standard on risk management. The GRMD Head
supervises the entire ERM process and spearheads
the development, implementation, maintenance
and continuous improvement of ERM processes

BOARD OF
DIRECTORS
Manuel V. Pangilinan
MANUEL V. PANGILINAN, organization made up of the country’s Chairman of the Ilocos Sur Local
73, FILIPINO largest corporations and a Co-Chairman Amnesty Board, and member of the
He is a Director of PLDT since November of the Philippine Disaster Resilience People’s Assistance Development Action
24, 1998. He was appointed as Chairman Foundation, Inc., a non-stock, non-profit Center, Inc.
of the Board of Directors of PLDT after foundation established to formulate and
serving as its President and Chief Executive implement a reconstruction strategy to His stint in the government started when
Officer from November 1998 to February rehabilitate and rebuild areas devastated he was elected as a member of the
2004. Since January 1, 2016, he holds the by floods and other calamities, and of Sangguniang Bayan of Vigan City in 1980.
position of President and Chief Executive the US-Philippine Business Society, a In 2008, he received the Legislator’s award
Officer of PLDT, and President and Chief non-profit society which seeks to given by the City Government of Vigan in
Executive Officer of Smart Communications, broaden the relationship between the recognition of his accomplishments and
Inc. (“Smart”) until August 7, 2019. He is United States and the Philippines in the contributions as former legislator of Vigan
the Chairman of the Governance and areas of trade, investment, education, City. In 1995, he was appointed as Regional
Nomination, Executive Compensation foreign and security policies and culture. Trial Court (RTC) Judge of Laoag City,
and Technology Strategy Committees of and served as Executive Judge from
the Board of Directors of PLDT. He also He has received numerous prestigious 2005 to 2007 and Presidential Assistant
serves as Chairman of Metro Pacific awards including the Business Icon Gold for Region 1 in the Philippine Judges
Investments Corporation (“MPIC”), Award for having greatly contributed to Association. He retired from the Judiciary
Manila Electric Company (“Meralco”), the Philippine economy through in 2015. His record of public service as a
PXP Energy Corporation and Philex achievements in business and society by judge was marked by a very high degree
Mining Corporation, and Vice Chairman Biz News Asia magazine (2008), Global of competence, integrity, dedication and
of Roxas Holdings, Inc., all of which are Filipino Executive of the Year for 2010 by independence. He obtained his Bachelor
PSE-listed companies, and of several Asia CEO Awards, and Philippines Best of Arts in Philosophy and Bachelor of
subsidiaries or affiliates of PLDT or MPIC, CEO for 2012 by Finance Asia. Laws Degrees from San Beda College.
including, among others, Smart, Digitel
Mobile Philippines, Inc., Digital He graduated cum laude from the Ateneo HELEN Y. DEE,
Telecommunications Phils, PLDT de Manila University, with a Bachelor of 76, FILIPINO
Communications & Energy Ventures, Inc., Arts Degree in Economics. He received She has been a director of PLDT since
ePLDT, Inc., Beacon Electric Assets his Master’s Degree in Business June 18, 1986. She is the Chairperson or a
Holdings Inc., Manila North Tollways Administration from Wharton School of director of EEI Corporation, House of
Corporation, Maynilad Water Services Finance & Commerce at the University of Investments, Petro Energy Resources
Corporation, Landco Pacific Corporation, Pennsylvania, where he was a Procter & Corporation and Rizal Commercial Banking
Metro Pacific Hospital Holdings, Inc., Gamble Fellow. He was conferred a Doctor Corporation, all of which are PSE-listed
Medical Doctors Incorporated (Makati of Humanities Degree (Honoris Causa) companies. She is the Chairperson, Vice
Medical Center), Colinas Verdes by the San Beda College (2002), Xavier Chairperson or a director of several
Corporation (Cardinal Santos Medical University (2007), Holy Angel University companies engaged in banking, insurance
Center), Davao Doctors Incorporated, (2009) and Far Eastern University (2010). and real property businesses. Ms. Dee
Riverside Medical Center Incorporated, received her Master’s Degree in Business
Our Lady of Lourdes Hospital and Asian MANUEL L. ARGEL, JR., Administration from De La Salle University.
Hospital Incorporated. He is also the 70, FILIPINO
He was elected as director of PLDT on ALBERT F. DEL ROSARIO,
Chairman of MediaQuest Holdings Inc., 80, FILIPINO
TV5 Network, Inc. and PLDT-Smart January 28, 2020. He is a member of the
He has been a director of PLDT since
Foundation. Social Security Commission (SSC), the
July 11, 2016 and is a member of the
Governing Board of the Social Security
Technology Strategy Committee of the
Mr. Pangilinan founded First Pacific System (SSS) and shares the responsibility
Board of Directors of PLDT. He was the
Company Limited (“First Pacific”), a for the governance of the SSS in terms of
former Secretary of Foreign Affairs of the
Hongkong Stock Exchange-listed providing policy directions, monitoring,
Philippines from February 2011 to March
company, in 1981 and serves as its and overseeing management actions. He
2016 and also served as Philippine
Executive Chairman, Managing Director is member of the Risk Management and
Ambassador to the United States of
and Chief Executive Officer. Within the Investment and Audit Committees of the
America from October 2001 to August
First Pacific Group, he also holds the SSC. He also performs quasi-judicial
2006. Prior to entering public service, he
position of President Commissioner of functions through decisions rendered on
was on the Board of Directors of various
P.T. Indofood Sukses Makmur Tbk, the cases involving SSS coverage, benefits,
firms. His business career for over four
largest food company in Indonesia. contributions and penalties. He started
decades has spanned the insurance,
his law career as an associate of private
banking, real estate, shipping,
Outside the First Pacific Group, full-service law firms until he formed his
telecommunications, advertising, consumer
Mr. Pangilinan is the Chairman of the own law firm in 1981. While in private
products, retail, pharmaceutical, and food
Board of Trustees of San Beda College practice, Retired Judge Argel was
industries.
and Amateur Boxing Association of the accredited in 1995 as a Voluntary Labor
Philippines, a governing body of amateur Arbitrator of the National Conciliation
Ambassador del Rosario is the Chairman
boxers in the country, and the Chairman and Mediation Board. He also served as
of Philippine Stratbase Consultancy, Inc.,
Emeritus of the Samahang Basketbol ng President of the Integrated Bar of the
Gotuaco del Rosario Insurance Brokers,
Pilipinas. He is also the Chairman of Philippines (Ilocos Chapter) from 1993 to
Inc., Stratbase ADR Institute, Inc., Citizens
Philippine Business for Social Progress, 1995, Provincial Secretary of the National
for Promoting Human Rights, Inc. and a
the largest private sector social action Citizens’ Movement for Free Elections,
director of Metro Pacific Investments
45 BOARD OF DIRECTORS
Manuel L. Argel, Jr. Helen Y. Dee Albert F. Del Rosario
Ray C. Espinosa James L. Go Shigeki Hayashi
Corporation and Rockwell Land Hall of Fame in New York City in 2006. CEO of Manila Electric Company. He is a
Corporation (both PSE-listed companies), He received the AIM Washington Sycip director of Roxas Holdings Inc., an
Indra Philippines, Inc., Metro Pacific Distinguished Management Leadership independent director of Lepanto
Tollways Corporation, Two Rivers Pacific Award in 2011, Doctor of Laws (Honoris Consolidated Mining Company and
Holdings Corporation, Metro Pacific Causa) for “principled commitment to chairman of its Audit Committee, and an
Resources, Inc., Metro Pacific Holdings, democracy, integrity and the rule of law independent director of Maybank
Inc., Metro Pacific Asset Holdings, Inc., both at home and around the globe” Philippines Inc. and chairman of its Risk
Philippine Telecommunications conferred by the College of Mount Saint Management Committee. He is the
Investment Corporation, Enterprise Vincent, New York City in September chairman of the Philstar Group of
Investments Holdings, Inc. and Asia 2015, Rotary Club Makati West’s First Companies and BusinessWorld Publication
Insurance (Phil.) Corp. He is also a trustee “Albert del Rosario Award” (Tungo sa Corporation. He is a trustee of the
of the Carlos P. Romulo Foundation for Makatarungang Pamumuhay) in August PLDT-Smart Foundation Inc. and the
Peace & Development and Philippine 2016, Outstanding Leadership in Beneficial Trust Fund of PLDT.
Cancer Society, Inc. and a member of Asia Diplomatic Service by Miriam College
Society Global Council and an Advisory Department of International Studies and He has a Master of Laws degree from the
Board of CSIS Southeast Asia Program and Philippine Tatler’s Diamond Award both University of Michigan School of Law and
Metrobank Foundation, Inc. in November 2016. On September 25, 2018, a Bachelor of Laws degree from the
he was conferred the Honorary Degree of Ateneo de Manila University School of
He received numerous awards and Doctor for Humanities by the Ateneo de Law, and is a member of the Integrated
recognition for his valuable contributions Manila University for staunchly defending Bar of the Philippines. He was a partner at
to the Philippines and abroad. In the sovereignty and territorial integrity of SyCip Salazar Hernandez & Gatmaitan
September 2004, he was conferred the the country, raising the standards of from 1982 to 2000, a foreign associate at
Order of Sikatuna, Rank of Datu, by H.E. economic diplomacy and proactively Covington and Burling (Washington, D.C.)
President Gloria Macapagal-Arroyo for ensuring the safety and security of overseas from 1987 to 1988, and a law lecturer at
his outstanding efforts in promoting Filipinos everywhere. Ambassador del the Ateneo de Manila University School
foreign relations for the Philippines and Rosario graduated from New York of Law from 1983 to 1985 and 1989. He
the Order of Lakandula with a Rank of University with a Bachelor of Science placed first in the 1982 Philippine Bar
Grand Cross (Bayani) for acting as Degree in Economics. Examinations.
Co-Chair of the 2015 APEC in December
2015. He was a recipient of the EDSA II RAY C. ESPINOSA, JAMES L. GO,
64, FILIPINO 81, FILIPINO
Presidential Heroes Award in recognition
He has been a director of PLDT since He has been a director of PLDT since
of his work in fostering Philippine
November 24, 1998, and is a member of November 3, 2011, and is a member of the
democracy in 2001 and the Philippine
the Technology Strategy Committee of Technology Strategy and Risk Committees
Army Award from H.E. President Corazon
the Board of Directors of PLDT. He is and Advisor of the Audit Committee of the
Aquino for his accomplishments as
Senior Advisor to the President and CEO Board of Directors of PLDT. He is the
Chairman of the Makati Foundation for
of PLDT since January 28, 2019. He was Chairman of JG Summit Holdings, Inc.
Education in 1991. He was awarded as
PLDT’s Chief Corporate Services Officer and Cebu Air, Inc., the Chairman and Chief
2013 Professional Chair for Public Service
from December 2016 until January 28, Executive Officer of Oriental Petroleum
and Governance by Ateneo School of
2019, and previously served as President and Minerals Corporation, the Chairman
Government and the Metrobank
and CEO of ePLDT Inc. and its subsidiaries Emeritus of Universal Robina Corporation
Foundation, 2014 Management Man of the
from July 2000 until April 2010 and as and Robinsons Land Corporation, the Vice
Year by Management Association of the
President and CEO of TV5 Network Inc. Chairman of Robinsons Retail Holdings,
Philippines, 2016 Outstanding Government
and Cignal TV Inc. from December 2009 Inc., and a director of Meralco, which are
National Official by Volunteers Against
until May 2013. In June 2013, he joined PSE-listed companies. He is also the
Crime and Corruption (VACC), 2016 Asia
First Pacific Company Limited as Chairman Emeritus of JG Summit
CEO Award as Life Contributor, and
Associate Director. Petrochemical Corporation and JG Summit
Manuel L. Quezon Gawad Parangal as
Olefins Corporation, and a director of
Quezon City’s Most Outstanding Citizens
Atty. Espinosa is also the President and United Industrial Corporation Limited,
for 2016. He was elevated to the Xavier

Junichi Igarashi Bernido H. Liu Artemio V. Panganiban
Ma. Lourdes C. Rausa-Chan Pedro E. Roxas Marife B. Zamora
Marina Center Holdings Private Limited Japanese – 10 languages) for inbound Incorporated, Essentia Medical Group
and Hotel Marina City Private Limited. He travelers to Japan. From 2006-2016, he Incorporated, Red Logo Lifestyle Inc.,
is also the President and a trustee of the represented NTT DOCOMO as a GSMA Greentree Food Solutions, Inc., and a
Gokongwei Brothers Foundation. He was PSMC (Product & Service Management director of GABC International Pte Limited
the Vice Chairman and President and Committee) member and exchanged (SG). He is a trustee for Children’s Hour
Chief Executive Officer of Digital strategic views about mobile industry with Philippines and of the Philippine Retailers
Telecommunications, Inc. until October top 25 largest MNOs. On top of that, from Association, and a director for Mga Likha
26, 2011. Mr. Go received his Bachelor of 2013-2016, he was assigned in London, UK ni Inay, Inc., and until March 27, 2018, was
Science Degree and Master of Science as General Manager for DOCOMO Europe, an independent member of the Board of
Degree in Chemical Engineering from Inc. (a subsidiary of NTT DOCOMO) and Trustees of the PLDT-SMART Foundation,
Massachusetts Institute of Technology, USA. worked with GSMA executives in GSMA Inc.
London HQ. From 2006-2013, he served
SHIGEKI HAYASHI, as a Director of NTT DOCOMO, Global He graduated with a Bachelor of Science
52, JAPANESE Business Division in Japan. He conducted Degree in Architecture from the University
He has been a director of PLDT since the PoC of WiMax Service in Canada (with of San Carlos, Cebu, and completed the
August 10, 2017. He is the Senior Vice Primus Communications, Inc.) and in Executive Education Owner/President
President, Corporate Planning, NTT Singapore (with InterTouch, Inc.). Prior to Management Program of the Harvard
Worldwide Telecommunications that, he served as a Director of Business Business School. Over the years, Mr. Liu
Corporation since NTT Group’s global Development and Head of Japanese and GABC under his leadership have been
reorganization in 2019. He handles Corporate Sales Division from 2003- recognized by different award-giving
corporate strategy and planning of the 2006 in StarHub, Singapore. bodies. Awards include, among others,
global business previously operated by the Agora Award for Outstanding
NTT Communication Corporation (“NTT He received his Master Degree in Achievement in Entrepreneurship from
Com”). His previous positions in NTT Mechanical Engineering from Tokyo the Philippine Marketing Association,
Com were Vice President, Global Business University and his Master of Business Ten Outstanding Young Men for
(2016 to 2019), Director-Planning, Global Administration from the University of Entrepreneurship, Global Retailer of the
Business (2012 to 2016), Senior Manager- Michigan Ann Arbor, USA. Year from the Philippine Retailers
Overseas Business Management, Global Association and the Department of Trade
Business (2007 to 2012) and Senior BERNIDO H. LIU, and Industry, and the ASEAN Business
Manager-Tax Accounting Division, Accounts 57, FILIPINO Award of Excellence for Priority Integration
and Finance Department (1999 to 2004). He has been an independent director of Sector in Retail.
He was the Deputy General Manager- PLDT since September 28, 2015 and is an
Corporate Management Department of independent member of the Audit, ARTEMIO V. PANGANIBAN,
NTT Europe Ltd. from 2004 to 2007. Governance and Nomination, Executive 83, FILIPINO
Mr. Hayashi obtained his Bachelor of Compensation and Risk Committees of He has been an independent director of
Economics Degree from Osaka University. the Board of Directors of PLDT. He is the PLDT since April 23, 2013 and is serving
Chairman and Chief Executive Officer of as an independent member of the Audit,
JUNICHI IGARASHI, GOLDEN ABC, Incorporated. (“GABC”), a Governance and Nomination, Executive
55, JAPANESE fashion retail company which creates and Compensation and Risk Committees of
He has been a director of PLDT since sells its own clothing, personal care and the Board of Directors of PLDT. He was
August 9, 2018. He is a member of the accessory lines marketed and retailed under appointed as Lead Independent Director
Governance & Nomination, Executive a dynamic portfolio of well-differentiated effective March 21, 2019. He served as an
Compensation, Technology Strategy and proprietary brands. He is the Group independent member of the Advisory
Risk Committees, and an Advisor of the Chairman of LH Paragon Incorporated, a Board and an independent non-voting
Audit Committee of the Board of Directors business holdings company which has member of the Governance and
of PLDT. From 2016-2018, he served as a under its management GABC and other Nomination Committee of the Board of
Director of NTT DOCOMO, Smart Life companies in various industries, namely, Directors of PLDT from June 9, 2009 to
Business Division in Tokyo, Japan. He Matimco Incorporated, Oakridge Realty May 6, 2013. Currently, he is also an
developed and sold a language translation Development Corporation, Basic Graphics independent director of Meralco, Petron
& travel mobile application (Jspeak:
47 BOARD OF DIRECTORS
ADVISORY
BOARD/
COMMITTEE
Oscar S. Reyes Roberto R. Romulo
Benny S. Santoso Orlando B. Vea Christopher H. Young
Corporation, First Philippine Holdings Cebu (2006), Angeles University (2006) companies. He is also the Chairman,
Corporation, Metro Pacific Investments and Bulacan State University (2006). He President or a director of companies or
Corporation, Robinsons Land Corporation, was co-founder and past president of associations in the fields of agri-business,
GMA Network, GMA Holdings, and Asian the National Union of Students of the sugar manufacturing and real estate
Terminals, Inc., and a regular director of Philippines. development including Brightnote Assets
Jollibee Foods Corporation, all of which Corporation, Club Punta Fuego, Inc., and
are PSE-listed companies, as well as a MA. LOURDES C. RAUSA-CHAN, Philippine Sugar Millers Association, and
senior adviser of Metropolitan Bank and 66, FILIPINO a member of the Board of Trustees of
Trust Company, a member of the Advisory She has been a director of PLDT since Philippine Business for Social Progress
Council of the Bank of the Philippine March 29, 2011 and is a non-voting and Fundacion Santiago (where he is also
Islands and an adviser of Double Dragon member of the Governance and the President) and Roxas Foundation,
Properties, Corp. He is also Chairman of Nomination Committee of the Board of Inc. Mr. Roxas received his Bachelor of
the Board of Trustees of the Foundation Directors of PLDT. She has been serving Science Degree in Business Administration
for Liberty and Prosperity, and of the as Corporate Secretary and Chief from the University of Notre Dame,
Board of Advisers of Metrobank Governance Officer since November 1998 Indiana, U.S.A.
Foundation, Inc., a trustee of Tan Yan Kee and March 2008, respectively, and was
Foundation and Claudio Teehankee the Head of Corporate Affairs and Legal MARIFE B. ZAMORA,
Foundation, President of the Manila Services until November 30, 2018. She is 67, FILIPINO
Metropolitan Cathedral-Basilica a director and the Corporate Secretary She has been a director of PLDT since
Foundation, a member of the Advisory of ePLDT, PLDT Global Investments November 14, 2016. She is the Chairman
Board of World Bank (Philippines), Holdings, Inc., PLDT Communications of the Board of Willis Towers Watson
Chairman-Emeritus of the Philippine and Energy Ventures, Inc., ACeS Insurance Brokers, Inc., a member of the
Dispute Resolution Center, Inc., Chairman Philippines Cellular Satellite Corporation Board of Trustees of the Asian Institute
of the Philippine National Committee of and Mabuhay Investments Corporation, of Management and ABS-CBN Foundation
the Asean Law Association, a member of and also serves as Corporate Secretary of Inc. She is President of the UP Sigma
the Permanent Court of Arbitration in several other subsidiaries of PLDT, and of Delta Phi Alumnae Association. She
The Hague, Netherlands, and a column PLDT-Smart Foundation Inc. and co-founded the Filipina CEO Circle, an
writer of the Philippine Daily Inquirer. Philippine Disaster Resilience Foundation, organization of Filipina CEOs who rose
Inc. Prior to joining PLDT, she was the through the ranks to lead large
Hon. Panganiban served the Supreme Group Vice President for Legal Affairs of corporations in the private sector. She was
Court of the Philippines for more than 11 Metro Pacific Corporation and the Chairman of Convergys Philippines until
years, first as Associate Justice (October Corporate Secretary of some of its December 2018, Managing Director for
10, 1995 to December 20, 2005) and later, subsidiaries. Ms. Rausa-Chan received Asia Pacific, Europe, Middle East, Africa
as Chief Justice (December 21, 2005 to her Bachelor of Arts Degree in Political for Convergys Corporation, and served as
December 6, 2006) during which he sat Science and Bachelor of Laws Degree the first Country Manager of Convergys
concurrently as Chairperson of the from the University of the Philippines Philippines, setting up its first contact
Presidential Electoral Tribunal, Judicial center in 2003 and leading its growth as
and Bar Council and Philippine Judicial PEDRO E. ROXAS, the country’s largest private employer.
Academy. He has received over 250
64, FILIPINO Prior to this, Ms. Zamora served as
He has been a director of PLDT since Managing Director of Headstrong Phils.
awards in recognition of his role as jurist,
March 1, 2001 and qualified as an She was with IBM Philippines where she
practicing lawyer, professor, civic leader,
independent director since 2002. He is held a number of sales, marketing and
Catholic lay worker and business
the Chairman of the Audit Committee management positions during her 18-year
entrepreneur, including “The Renaissance
and serves as an independent member tenure with the company. She is the 3rd
Jurist of the 21st Century” given by the
of the Risk, Governance and Nomination woman President and the 68th President
Supreme Court on the occasion of his
and Executive Compensation Committees of the Management Association of the
retirement from the Court. Hon. Panganiban
of the Board of Directors of PLDT. He is Philippines. Honors conferred on
graduated cum laude from Far Eastern
the Chairman of Roxas Holdings, Inc. and Ms. Zamora include the Asia CEO Awards
University with a Bachelor of Laws
Roxas and Company, Inc., and an 2011 Global Filipino Executive of the Year,
Degree in 1960, and was conferred a
independent director of Meralco, BDO the ‘Go Negosyo’ Woman STARpreneuer
Doctor of Laws Degree (Honoris Causa)
Private Bank and CEMEX Holdings Phil. Award 2012, and the 100 Most Influential
by the University of Iloilo (1997), Far
Inc., which are reporting or PSE-listed Filipino Women in the World 2013.
Eastern University (2002), University of
ADVISORY BOARD/COMMITTEE 48
EXECUTIVE
OFFICERS
Manuel V. Pangilinan Alejandro O. Caeg Anabelle L. Chua
Juan Victor I. Hernandez Menardo G. Jimenez Alfredo S. Panlilio
June Cheryl A. Cabal-Revilla Victorico P. Vargas Marilyn A. Victorio-Aquino
49 EXECUTIVE OFFICERS
ALEJANDRO O. CAEG, credit risk management and was a Vice NTT Multi-Media, Inc., ABM Global
60, FILIPINO President at Citibank, N.A. where she Solutions, Inc., Curo Tecknika, Inc., PLDT-
worked for 10 years prior to joining Maratel, Inc., and PLDT-Philcom, Inc.
He is SVP and Head of PLDT Smart
PLDT in 1998. She graduated magna
Consumer Sales Group and a member
cum laude from the University of the He also serves as director and CEO of
of the Smart Management Committee.
Philippines with a Bachelor of Science MVP Rewards and Loyalty Solutions,
Currently he is also a director of PLDT
Degree in Business Administration and Inc., director of Aces Philippines
Global Corporation and was its CEO
Accountancy. Cellular Satellite Corporation, ASean
from 2010 to 2017, likewise a director of
Telecom Holdings Sdn. Bhd., PLDT
MVP Rewards & Loyalty Solutions from
2019, and a director of Inspiro JUAN VICTOR I. HERNANDEZ, Global Corporation, Chikka Holdings
Philippines from 2018. He previously 46, FILIPINO Limited, Connectivity Unlimited
He is the Head of Enterprise Business Resources Enterprises, Inc., Talas Data
served as Head of Wireless Consumer
Group of PLDT and Smart, the segment Intelligence, Inc. Wifun, Inc., and Vega
Sales and Distribution of Smart from
that serves the small, medium, large and Group of Companies, independent
2016 to 2017. Also as Head of
top tier enterprises of the Philippines, is director of CEMEX Holdings Philippines,
International & Carrier Business from
concurrently the President & CEO of Inc., and trustee of Asian Carrier
2009 until 2016 and PLDT’s
ePLDT, as well as its subsidiaries namely, Conference, Inc., Kapampangan
representative to the ITW Global
AGS Inc., ePDS, Inc., and Curo Teknika, Development Foundation, and Philpop
Leaders Forum as well as to the Pacific
Inc. He is also the President of Bonifacio Musicfest Foundation, Inc. He is the
Telecommunications Council. He was
Cable Corporation, director of PLDT President of Samahang Basketbol ng
Smart’s representative to the Conexus
Global Corporation and heads its Pilipinas, Inc. (SBP), MVP Sports
Mobile Alliance (one of Asia’s largest
Enterprise businesses, with presence in Foundation (MVPSF), the Treasurer of
cellular roaming alliances), where he
the United States, United Kingdom, National Golf Association of the
was also designated as its Deputy
Hongkong, Singapore and Australia. Philippines and Manila Golf Country
Chairman until 2012 and eventually as
Club, Inc., Philippine Basketball
Conexus Chairman until 2014. Prior to
Mr. Hernandez is a trustee of IT and Association (PBA) Governor for the
joining PLDT in 2009, he was appointed
Business Processing Association of the Meralco Bolts, and a member of the
by PT Smart Telecom Tbk (Indonesia)
Philippines (IBPAP), Chairman of the Management Association of the
as its Chief Commercial Strategy Officer
Board of Asian Carriers Conference Inc., Philippines (MAP)
from July to December 2008 and as
Chief Commercial Officer from 2006 to director of ACASIA Communications
Sdn Bhd, and Board Adviser of the Prior to joining PLDT and Smart,
2008. Since joining Smart in 1993, he
Semiconductor and Electronics Mr. Panlilio was Meralco’s Senior Vice
has held various sales, marketing and
Industries in the Philippines Foundation, President and Head of Customer Retail
customer experience-related positions
Inc. (SEIPI). He obtained his Bachelor’s Services and Corporate Communications
including that of Group Head of Sales
Degree in Agricultural Economics from from September 2010 to June 2019
and Distribution (2003-2005), Group
the University of the Philippines and his championing innovation and
Head of Customer Care and National
Master’s Degree in Business transformation for the customers. He
Wireless Centers (1998-2001) and
Management from the Asian Institute served as Chairman of Radius Telecoms,
Marketing Head of International
of Management. Inc., e-Meralco Ventures Inc., Paragon
Gateway Facilities and Local Exchange
Vertical Corporation, Powersource First
Carrier (1997-1998). He also served as
Bulacan Solar, Inc. and Pure Meridian
CEO of Telecommunications MENARDO G. JIMENEZ, JR.,
Hydropower Corporation, Vice Chairman
Distributors Specialist, Inc. (TSI) in 57, FILIPINO of Aclara Meters Philippines, Inc., director
2002 and as Chief Operations Adviser He is the Head of Consumer Business – of CIS Bayad Center Inc., Corporate
of I-Contacts Corporation (Smart’s Call Home, joined PLDT in December 2001 Information Solutions, Inc, Customer
Center subsidiary) from 2001 to 2002. and served in various capacities as Frontline Solutions, Inc., Meralco Energy,
Mr. Caeg graduated with a Bachelor’s Corporate Communications and Public Inc., MRAIL Inc., Miescor, Comstech
Degree in AB Applied Economics and Affairs Head, Retail Business Head, Integration Alliance, Inc. and MSpectrum,
obtained MBA credits from De La Salle Human Resources Group Head and Inc., trustee of One Meralco Foundation,
University Manila. Fixed Line Business Transformation Inc. and Meralco Power Academy, and
Office Head. He holds directorships in Associate Board Member of Semi-
ANABELLE L. CHUA, several subsidiaries of PLDT. Prior to conductor and Electronics Industries in
59, FILIPINO joining PLDT, he had a stint at GMA the Philippines, Inc.
She is the Chief Financial Officer and Network, Inc., where he served as head
Chief Risk Management Officer of the of a creative services and network Mr. Panlilio was the 2013 CEO Excel
PLDT Group, previously served as the promotions. Mr. Jimenez received his Awardee of the International Association
Chief Financial Officer of Smart from AB Economics Degree from the of Business Communicators (IABC)
2006 and Chief Financial Officer of University of the Philippines. Philippines. He was one of seven finalists
Digitel Mobile from 2013 until May in the Rising Star (individual) category
2015. She holds directorships in several ALFREDO S. PANLILIO, of the PLATTS Global Energy Awards
subsidiaries of PLDT, Smart, Digitel, as 57, FILIPINO 2015 held in New York, and has received
well as in Voyager Innovations and He is the PLDT Group Chief Revenue multiple local and international awards
PayMaya Philippines. She is a member Officer since July 1, 2019, and for customer management and business
of the Board of Directors and Audit concurrently the President and CEO of communication excellence. Mr. Panlilio
Committee of the Philippine Stock Smart and Digital Telecommunications holds a Bachelor of Science Degree in
Exchange and Securities Clearing Phils., Inc. (Digitel) and Digitel Mobile Business Administration (Computer
Corporation of the Philippines. She is Phils., Inc., has over 30 years of experience Information Systems) from California
also a member of the Board of in the field of telecommunications and State University-San Francisco State
Directors of Meralco, chairs the information systems. He is the Chairman, University and obtained his Master in
Finance Committee and is a member President and CEO of Asia Netcom Business Administration at J. L. Kellog
of the Audit, Risk and Nomination and Philippines Corporation, Digitel Crossing, School of Management of Northwestern
Governance Committees of the Board Inc., and Mabuhay Investments University/the Hongkong University of
of Meralco. Further, Ms. Chua is a Corporation, the Chairman and President Science and Technology.
director of the Philippine of Telesat, Inc. and Smart Broadband,
Telecommunications Investment Inc., the President of Airborne Access JUNE CHERYL A.
Corporation and a member of the Corporation, I-Contacts Corporation CABAL-REVILLA,
Board of Trustees of the PLDT-Smart and Primeworld Digital Systems, Inc., 46, FILIPINO
Foundation and PLDT Beneficial Trust and the Chairman of ePLDT, Inc., ePDS, She is the Senior Vice President and
Fund (“PLDT-BTF”), and a director of Inc., IP Converge Data Services, Inc., Group Controller and is concurrently
the companies owned by PLDT-BTF. IPC Rack It Data Center, Inc., Bonifacio the Chief Sustainability Officer of the
Ms. Chua has over 30 years of Communications Corporation, PLDT PLDT Group and the Chief Financial
experience in the areas of corporate Clark Telecom, Inc., PLDT Malaysia Sdn. Officer of Smart, PLDT-Smart
finance, treasury, financial control and Bhd., PLDT Subic Telecom, Inc., Smart- Foundation, Philippine Disaster

TOP MANAGEMENT TEAM
Manuel V. Pangilinan Anabelle L. Chua Gina Marina P. Ordoñez Mary Rose L. Dela Paz
Alfredo S. Panlilio Victorico P. Vargas Orlando B. Vea Marilyn A. Victorio-Aquino
KEY ADVISORS
Joachim Horn Ray C. Espinosa
Resilience Foundation and a number of Transformation of PLDT. Prior thereto, director of Philex Mining Corporation,
subsidiaries and affiliates of PLDT, Mr. Vargas was the President and Chief PXP Energy Corporation and Lepanto
Smart and ePLDT. She is also the Executive Officer of Maynilad Water Consolidated Mining Company, which
Founding Chairman of Gabay Guro, Services, Inc. since August 2010. He are PSE-listed companies, Philex Gold
President of The Outstanding Young joined PLDT in 2000 as its Human Philippines, Inc., Silangan Mindanao
Men Foundation, and an appointed Resources Group Head and through his Mining Company, Inc. and Maynilad
member of the Financial Reporting stay at PLDT got involved in managing Water Services, Inc.
Standards Council of the Philippines. the PLDT Business Transformation
Prior to joining PLDT in June 2000 as a Office, Asset Protection and Prior to joining First Pacific, Atty.
Certified Public Accountant and an Management Group, and the PLDT Victorio-Aquino retired as a Senior
Executive Trainee in the Finance International Carrier Business. He has Partner at SyCip Salazar Hernandez
Group, she was a Senior Associate in worked in senior roles at Union Carbide, and Gatmaitan Law Offices (SyCipLaw).
the Business Audit and Advisory Pepsi Cola, Colgate Palmolive and She joined SyCipLaw in 1980 and was
Group of SGV & Co. She received her Citibank, NA (both in Manila and in admitted as Partner in 1989. Her practice
Bachelor of Science Degree in Southeast Asia). He is a director of areas were mining and natural
Accountancy from De La Salle Meralco, Smart, PLDT Subic Telecom, resources, investments, mergers and
University and Master’s Degree in Inc. and PLDT Clark Telecom, Inc., acquisitions, construction and
Business Management Major in Finance President and Member of the Board of infrastructure, and project finance and
from Asian Institute of Management Trustees of the First Pacific Leadership securities, where she acted as legal
(“AIM”) where she is an outstanding Academy, Trustee of the MVP Sports counsel and represented local and
alumni and a Triple A awardee by the Foundation, PLDT-Smart Foundation, foreign clients in respect of some of
Federation of AIM Alumni Associations, Inc. and Ideaspace Foundation and the largest projects and transactions in
Inc. She finished her Executive President of the PhilPop Music Fest the Philippines.
Program in the Stanford Graduate Foundation. Mr. Vargas was educated
School of Business. With her many at Ateneo de Manila and University of Atty. Victorio-Aquino graduated cum
achievements and advocacies, she has Santo Tomas with a Bachelor of laude (class salutatorian) from the
received recognition in the Philippines Science Degree in Psychology. University of the Philippines with a
as well as abroad, and is frequently Bachelor of Laws Degree in 1980,
invited as speaker by several MARILYN A. VICTORIO-AQUINO, placed second in the Philippine Bar
international organizations. 64, FILIPINO Examinations and was admitted to the
Chief Legal Counsel, she joined First Philippine Bar in 1981. She obtained her
VICTORICO P. VARGAS, Pacific Company Limited (“First Bachelor of Arts Degree from the
68, FILIPINO Pacific”) in 2012 as Assistant Director. University of Santo Tomas. She is a
She holds various positions in member of the International Pacific Bar
Business Transformation Office Head,
Philippine subsidiaries and affiliates of Association, Women Lawyers Circle,
he is an Associate Director of First
First Pacific and Metro Pacific Federacion International de Abogadas,
Pacific since January 2016, overseeing
Investments Corporation (an affiliate of Philippine Bar Association and
First Pacific Group businesses operating
First Pacific), including President of Integrated Bar of the Philippines.
in the Philippines and its region, with
particular focus on leading the Business First Coconut Manufacturing Inc., and
51 TOP MANAGEMENT TEAM AND KEY ADVISORS

OFFICERS
Manuel V. Pangilinan Aileen D. Regio Javier C. Lagdameo
Chairman of the Board FVP and Regulatory and Strategic Affairs Head VP and Corporate Relationship
President and Chief Executive Officer (CEO) Management Head
Luis S. Reñon
Alfredo S. Panlilio FVP and Internal Audit and Fraud Risk Czar Christopher S. Lopez
Chief Revenue Officer Management Head VP and Technology Strategy and
Transformation Office Head
Anabelle L. Chua Martin T. Rio
SVP, Chief Financial Officer and FVP and Property and Paolo Jose C. Lopez
Chief Risk Management Officer Facilities Management Head VP and Telesales, Online Stores, and
Emerging Channels Head
Victorico P. Vargas Emiliano R. Tanchico

FVP, HR Services and concurrent Labor and Maria Carmela F. Luque
Head, Business Transformation Office
Employee Relations Head and Workforce VP and Financial Audit Head
Transition Group
Marilyn A. Victorio-Aquino
Melanie A. Manuel
SVP and Chief Legal Counsel
Victor Y. Tria VP and Carrier Settlements and Business
FVP and PLDT Alpha Head Operations Support Head
Gina Marina P. Ordoñez
SVP and Chief People Officer Ronaldo David R. Mendoza
Melissa V. Vergel de Dios
FVP and Investor Relations Head VP and Building Industry and
Maria Lourdes C. Rausa-Chan Consultancy Services Head
Corporate Secretary and
Maria Cecilia H. Abad
Chief Governance Officer Mary Eleanor Lydia P. Nadal-Wei
VP and Consumer Care Head
VP and Strategic Partnerships and
Alejandro O. Caeg Corporate Development Head
Minerva M. Agas
SVP and Consumer Sales Head
VP and Logistics Head
Oliver Carlos G. Odulio
Juan Victor I. Hernandez VP, Enterprise Business Continuity & Resilience
Benedict Patrick V. Alcoseba
SVP and Enterprise Business Head Head and concurrent Asset Protection &
VP and Disruptive Business Head
Risk Management Head
Menardo G. Jimenez, Jr. Elizabeth S. Andojar
SVP and Head for Consumer Business VP and Enterprise Business Credit and Carlo S. Ople
Collection Management Head VP and Deputy Head for PLDT-Smart
June Cheryl A. Cabal-Revilla Public Affairs
SVP, Chief Sustainability Officer and Roy Victor E. Añonuevo
Financial Reporting and Controllership Head VP and HOME Business Operations and Harold Kim A. Orbase
Services Head VP and Head Enterprise Service
Katrina L. Abelarde Fulfillment Management
FVP and International and Tito Rodolfo B. Aquino, Jr.
Carrier Business Head VP and Commercial Contracts Charles Louis L. Orcena
Management Head VP and Business and Customer Analytics Head
Marco Alejandro T. Borlongan
FVP and Consumer Business Operations Mitchie M. Arcaina Raymond A. Racho
Management Head VP and Organizational Change Management VP and Products and Billing Assurance Head
and Organization Design Head
Eduardo H. Rafuson
Mary Julie C. Carceller
Jerameel A. Azurin VP and Fraud Risk Management Head
FVP and Strategic Program Management Head
VP and Product Management Head of the
Disruptive Business Group of PLDT Enterprise Ricardo C. Rodriguez
Bernard H. Castro
VP and Compensation, Rewards and
FVP, Consumer Business Fulfillment
Rafael M. Bejar Performance Management Head
Management
VP and Medical Services Head
Genaro C. Sanchez
Marisa V. Conde
Wilson S. Bobier VP and International Submarine
FVP and Wireless Financial Controller and Financial
VP and Program Resource and Cable Network Head
Regulatory Compliance and Research Head
Integration Management Head
Maria Christina C. Semira
Mary Rose L. Dela Paz
Luis Gregorio D. Casas VP and Subsidiaries and Affiliates Head
FVP and Chief Procurement Officer
VP and Alpha Relationship Management B Head
Ma. Merceditas T. Siapuatco
Gil Samson D. Garcia
Ma. Monica M. Consing VP and Treasury Operations and Support Head
FVP and Revenue Management and
Cash Assurance Head VP and Senior Business Transformation
Office Executive Arvin L. Siena
VP and Core Network Planning and
Joseph Ian G. Gendrano
Gene S. De Guzman Engineering and Integration Head
FVP, Deputy Data Privacy Officer and
Core Enterprise Business Solutions Head VP and Enterprise Complex Service Assurance
Management Head Carla Elena A. Tabuena
VP and Enterprise Business Service
Ma Criselda B. Guhit Operations Management Head
FVP and Tax Management and Advocacy Head Joan A. De Venecia-Fabul
VP and Corporate Counsel Head
Patrick S. Tang
Leah Camilla B. Jimenez VP, VisMin Regional Marketing
FVP, Chief Data Privacy Officer and Data Privacy Aniceto M. Franco III
and Information Security Governance Head VP and Enterprise Microbusiness Head
Jecyn Aimee C. Teng
John John R. Gonzales VP and Corporate Relationship
Princesita P. Katigbak Management A Head
FVP and National Key Accounts Group Head VP and Enterprise Digital Solutions Head
Silverio S. Ibay, Jr. Milan M. Topacio

Albert Mitchell L. Locsin VP and Network Operations Center Head
FVP and SME Nation Head VP and Spend Management Head
Gary F. Ignacio John Henri C. Yanez

Florentino D. Mabasa, Jr. VP and HOME Marketing Head
VP and Enterprise Fixed Business
FVP, Assistant Corporate Secretary and
Solutions Head
Legal Services Head
Radames Vittorio B. Zalameda
Marven S. Jardiel VP and Wireless/Fixed Optimization and
Leo I. Posadas Performance Management Executive
VP and Enterprise Customer Operations
FVP, Corporate Treasurer and Treasury Head
Management Head
Dale M. Ramos
Alexander S. Kibanoff
FVP and Network Build Head
VP and Learning and Development Head
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Nyse Phi 2019

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Nyse Phi 2019

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CONTENTS

4 Consolidated Financial Performance Highlights

5 Message from the Chairman, President and CEO

11 Awards and Recognition

16 PLDT Group Corporate Social Responsibility

17 People and Culture

19 PLDT Group Corporate Governance Report

44 Enterprise Risk Management

51 Top Management Team and Key Advisors

96 Audit Committee Report

97 Statement of Management’s Responsibility for

Consolidated Financial Statements

98 Independent Auditor’s Report

104 Consolidated Statements of Financial Position

106 Consolidated Income Statements

107 Consolidated Statements of Comprehensive Income

108 Consolidated Statements of Changes in Equity

109 Consolidated Statements of Cash Flows

111 Notes to Consolidated Financial Statements

287 Contact Information

PLDT 2019 ANNUAL REPORT 2

Financial Information 20151 20161 20171 20181 2019

Revenues 170,345 164,446 158,933 162,914 169,187

Service revenues 162,172 156,394 150,172 152,369 161,355

Expenses 138,510 139,743 149,422 149,141 129,786

Core income 35,212 27,857 27,668 25,855 25,111

EBITDA 70,218 61,161 66,174 64,027 79,815

Carrying value 195,782 203,188 186,907 195,964 232,134

Capital expenditures 43,175 42,825 40,299 58,490 72,871

Short and Long-term debts 160,892 185,032 172,611 176,276 192,556

Net Debt 113,008 143,572 138,632 123,457 167,873

Cash dividends declared per common 122 77 76 72 75

Number of mobile subscribers 68,612,118 62,763,209 58,293,908 60,499,017 73,118,155

Number of broadband subscribers 1,514,640 1,720,753 1,950,881 2,025,563 2,161,484

Total number of subscribers 72,430,212 66,922,435 62,907,999 65,235,552 78,044,848

Number of stockholders 11,837 11,774 11,712 11,658 11,596

Number of employees: 17,176 18,038 17,779 17,222 18,784

2019 88.3 73.1 161.4 2019 73.1 2.8 2.1 78.0

0 20 40 60 80 100 120 140 160 170 0 10 20 30 40 50 60 70 80

SERVICE REVENUES SUBSCRIBER BASE

WIRELESS FIXED LINE OTHERS MOBILE FIXED LINE BROADBAND

2019 79.8 2019 69.4

2018 64.0 2018 61.1

2017 66.2 2017 56.1

2016 61.2 2016 49.0

2015 70.2 2015 69.7

EBITDA CASH FLOW FROM

2019 25.1 2019 213.5

2018 25.9 2018 243.1

2017 27.7 2017 319.8

2016 27.9 2016 294.9

2015 35.2 2015 445.1

0 5 10 15 20 25 30 35 40 0 100 200 300 400 500 600

CORE INCOME MARKET

CONSOLIDATED FINANCIAL PERFORMANCE HIGHLIGHTS 4

CHAIRMAN, planet – is going through an unprecedented

This pandemic is taking a rising toll – not only

AND CEO in terms of lives lost but also in the economic