The table below sets forth the corporate governance practices and standards that PLDT
follows which are in accordance with or, on certain matters, exceed the requirements of
the Code of Corporate Governance (the “Philippine SEC Governance Code”) that was
promulgated by the Philippine Securities and Exchange Commission under its
Memorandum Circular No. 2, Series of 2002. Some of PLDT’s corporate governance
practices and standards differ from the New York Stock Exchange’s (the “NYSE”)
corporate governance requirements applicable to listed companies which are set out in
Section 303A of the NYSE Listed Company Manual (the “NYSE Corporate Governance
Rules”). These differences and, in certain instances, the actions which PLDT is taking to
meet the standards in the NYSE Corporate Governance Rules are also set forth in the
table below. As a foreign private issuer, PLDT is permitted to follow Philippine corporate
governance practices in lieu of the provisions of Section 303A of the NYSE Listed
Company Manual, except Section 303A.06, Section 303A.11, Section 303A.12(b), and
Section 303A.12(c) which PLDT is required to comply with.

You can download the complete NYSE Section 303A.11 Disclosure document (85 KB):