SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES
REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER

1. For the quarterly period ended

Mar 31, 2021

2. SEC Identification Number

34218

3. BIR Tax Identification No.

000-153-610-000

4. Exact name of issuer as specified in its charter

AYALA CORPORATION

5. Province, country or other jurisdiction of incorporation or organization

Makati City, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

32F to 35F, Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(632) 7908-3000

9. Former name or former address, and former fiscal year, if changed since last report

Not applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Preferred A (net of 12M treasury shares)	0
Preferred B Series 1 (net of 8M treasury shares )	20,000,000
Preferred B Series 2	30,000,000
Voting Preferred	200,000,000
Common (net of 5,744,854 treasury shares)	627,440,701
Debt outstanding as of March 31, 2021 (in PHP)	39,903,400,000

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

As of March 31, 2021, a total of 627,098,147 common shares, 12,000,000 preferred A (ACPA) shares, 28,000,000 preferred B series 1 (ACPB1) shares, and 30,000,000 preferred B series 2 (APB2R) shares are listed in the Philippine Stock Exchange (PSE). A total of 5,744,854 common shares, 12,000,000 ACPA shares and 8,000,000 ACPB1 shares are held in Treasury by the Parent Company.

12. Indicate by check mark whether the registrant:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Sections 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

(b) has been subject to such filing requirements for the past ninety (90) days

Yes

No

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Ayala CorporationAC

PSE Disclosure Form 17-2 - Quarterly Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the period ended	Mar 31, 2021
Currency (indicate units, if applicable)	in Thousand Pesos

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Mar 31, 2021	Dec 31, 2020
Current Assets	668,266,343	657,893,956
Total Assets	1,427,840,879	1,405,757,992
Current Liabilities	385,394,946	400,529,685
Total Liabilities	863,919,766	863,335,881
Retained Earnings/(Deficit)	243,085,678	238,072,873
Stockholders' Equity	563,921,113	542,422,111
Stockholders' Equity - Parent	346,556,806	339,179,770
Book Value per Share	512.65	500.92

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Gross Revenue	52,270,029	53,352,840	52,270,029	53,352,840
Gross Expense	46,874,039	45,640,780	46,874,039	45,640,780
Non-Operating Income	9,992,026	9,713,681	9,992,026	9,713,681
Non-Operating Expense	6,743,922	6,200,393	6,743,922	6,200,393
Income/(Loss) Before Tax	8,644,094	11,225,348	8,644,094	11,225,348
Income Tax Expense	1,595,954	2,252,924	1,595,954	2,252,924
Net Income/(Loss) After Tax	7,159,033	10,821,202	7,159,033	10,821,202
Net Income Attributable to Parent Equity Holder	5,375,563	6,661,367	5,375,563	6,661,367
Earnings/(Loss) Per Share (Basic)	8.04	10.12	8.04	10.12
Earnings/(Loss) Per Share (Diluted)	8.03	10.11	8.03	10.11

	Current Year (Trailing 12 months)	Previous Year (Trailing 12 months)
Earnings/(Loss) Per Share (Basic)	23.19	52.14
Earnings/(Loss) Per Share (Diluted)	23.16	52.12

Other Relevant Information

The Balance Sheet (BS) and Income Statement (IS) amounts are in Thousands except Book value per share and Earnings per share. The above BS and IS line items exclude MWC’s, an AC direct subsidiary, accounts which are shown separately as “Asset, Liabilities and Operations of the Segment Under PFRS 5” in the BS and IS (see Note 20 of the Unaudited Interim Condensed Consolidated Financial Statements of this SEC17Q report). Please see attached Ayala Corporation and Subsidiaries SEC Form 17Q as of March 31, 2021.