The PSE makes no representation on the accuracy, validity, correctness and completeness of the information stated in the respective PORs of listed companies. The PSE shall use the information contained in the POR submitted by the company in computing a company's weight in the index and this may be updated or adjusted consistent with the policy of the Exchange in managing the PSEi and sector indices.

PAL Holdings, Inc.PAL

PSE Disclosure Form POR-1 - Public Ownership Report Reference: Amended Rule on Minimum Public Ownership

Report Type

• Monthly
• Quarterly
• Others

Report Date	Dec 31, 2025

Computation of Public Ownership

Number of Issued Common Shares	26,852,131,905
Less: Number of Treasury Common Shares, if any	25,015
Number of Outstanding Common Shares	26,852,106,890

Less :

A. Directors

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
Dr. Lucio C. Tan	1,993,726	-	1,993,726	-
Carmen K. Tan	450	-	450	-
Lucio C. Tan III	450	-	450	-
Kyle Ellis C. Tan	1	-	1	-
Sheila T. Pascual	100	-	100	-
Katsuya Goto	1	-	1	-
Johnip G. Cua	225	-	225	-
Ramon D. Dizon	100	-	100	-
Jerome S.Tan	100	-	100	-
	1,995,153	0	1,995,153	0

B. Officers

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
Ma. Cecilia L. Pesayco	-	-	-	-
Susan T. Lee	-	-	-	-
	0	0	0	0

C. Principal/Substantial Stockholders

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
Buona Sorte Holdings, Inc.	10,200,000,000	-	10,200,000,000	37.99
Trustmark Holdings Corporation	8,930,733,170	-	8,930,733,170	33.26
ANA Holdings, Inc.	1,103,042,933	-	1,103,042,933	4.11
	20,233,776,103	0	20,233,776,103	75.36

D. Affiliates

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
Cosmic Holdings Corporation	378,206,591	-	378,206,591	1.41
Philippine National Bank	313,687,832	-	313,687,832	1.17
	691,894,423	0	691,894,423	2.58

E. Government

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
-	-	-	-	-
	0	0	0	0

F. Banks

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
-	-	-	-	-
	0	0	0	0

G. Employees

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
-	-	-	-	-
	0	0	0	0

H. Lock-Up Shares

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
-	-	-	-	-
	0	0	0	0

I. Others

Name	Direct	Indirect	Total direct & indirect shares	% to Total Outstanding Shares
-	-	-	-	-
	0	0	0	0

Number of Listed Common Shares	25,755,747,644
Total Number of Non-Public Shares	20,927,665,679
Total Number of Shares Owned by the Public	5,924,441,211
Public Ownership Percentage	22.06

Other Relevant Information
None.