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January 12, 2015 United Re-Growth Philippines, Inc. 1003-A Keppel Center, Cebu Business Park, Cebu City Ms. Mary Ann Bagoyado General Manager Madaam: In connection with our audit of the financial statements of United Re-Growth Philippines, Inc. (the Company) for the year ending December 31, 2014, we have enclosed a list of the required documents, schedules and analyses we will need for the aforementioned activities (see Exhibit for the suggested format). The list is not all-inclusive. We will coordinate with you interviews that will be conducted, particularly those that will involve other departments. We will also inform you should we need additional documents, schedules and analyses as the audit progresses. Also, the early completion of the audit depends greatly on the cooperation and assistance that can be extended by your staff on the following:

Submission of the requested schedules, analyses of accounts and original supporting documents on the required dates.

Typing of confirmation requests.

Investigation of exceptions reported by debtors and creditors.

Performance of other clerical work that may be requested from time to time. In the preparation of the schedules/analyses, complete reference should be indicated to facilitate our tracing and examination of source documents. The balance of the schedules/analyses should be in agreement with the balance of the corresponding control accounts in the general and subsidiary ledgers. In case of discrepancies, the balances should be accompanied by the reconciliation statements. The required audit schedules and analyses and the information/details for disclosure in the financial statements should be provided to us in soft copy.

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We also request that we be furnished as soon as possible with a copy of the following:

Financial statements draft

Prior year financial statements and income tax returns filed

Articles of Incorporation and Certificate of Registration with SEC

Certificate of Registration with PEZA

Copies of minutes of meetings of the stockholders, board of directors, and executive committee held during the period from January 1, 2014 to date of the audit report

Certifications from the Corporate Secretaries as to the completeness of minutes of meetings and capital structure

Reply from the legal counsel

List of stockholders, including the amount subscribed and any unpaid subscription, duly certified by the corporate secretary

Monthly executive report and interim financial statements submitted to the board of directors

Internal audit reports, if any.

Contracts and other agreements with accounting significance held/entered into during the year

Contracts database with the certification of completeness of contracts

Signed management representation letter

Complete set of journal entries

Workpaper of impairment testing on non-financial assets (investment in subsidiaries and associates, property and equipment, software costs and investment properties), if any.

A status report of schedules/analyses submitted and pending will be provided to you for monitoring purposes. Please let us know should you have questions on the foregoing and thank you for your usual cooperation. Very truly yours,

Joseph Alfie A. Logroño Principal

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UNITED RE-GROWTH PHILIPPINES, INC. LIST OF REQUIRED SCHEDULES AND ANALYSES

DECEMBER 31, 2014 AUDIT

Schedules/Analyses Target Submission Dates

1. Final trial balance January 20, 2015

2. Bank reconciliation statements (for all bank accounts) - do -

3. Schedule of cash on hand accounts - do -

4. Schedule of short-term investments*(1) - do -

5. Aged list of accounts receivables – trade*(2) - do -

6. Aged list of non-trade receivables*(3) - do -

7. Subsequent period cash receipts (at least two weeks from

December 31, 2014)*(4)

- do -

8. Details of prepaid expenses and other current assets*(5) January 25, 2015

9. Detailed roll forward analysis of property cost and

accumulated depreciation per property category*(6)

- do -

10. Detailed schedule of property additions *(7) - do -

11. Detailed schedule of property sales/dispositions (for each

property category)*(8)

- do -

12. Details of accounts payable – trade and non-trade*(9) January 28, 2015

13. Details of GC, gift card and shopping card redeemable - do -

14. Detailed schedule of accrued expenses*(10) - do -

15. Schedule of other payables*(11)

AP Affiliates – Employee Purchases

AP Affiliates – Guarantors

Other liabilities

AP Miscellaneous

AP-Others

- do -

16. Subsequent period cash disbursements (at least two weeks

from December 31, 2014)* (12)

- do -

17. Details of issued check outstanding - do -

18. Reconciliation of all intercompany accounts - do -

19. Details of related party transactions and balances*(13) - do -

20. Schedule of income, deferred and other tax payables - do -

21. Movements of stockholders’ equity balances*(14) - do -

22. Monthly detailed schedule:*(15)

Management fee

Service income

Reimbursable charges

Rental income

- do -

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Schedules/Analyses Target Submission Dates

23. Monthly details of the following general and administrative

expenses *(16)

Salaries and wages

Depreciation

Other employee benefits

Repairs and maintenance

Transportation and travel

Utilities

IT Expenses

Professional fees

Manpower cost

- do -

24. Schedule of rent expense recognized on a straight-line

basis

- do -

25. Lease disclosures*(17) - do -

26. Schedule of taxes and licenses*(18) - do -

27. Monthly detailed schedules of interest income and

miscellaneous income

- do -

28. Rollforward of investments in stocks and bonds - do -

29. Latest actuarial valuation report and retirement fund

contribution for the year

- do -

30. Contracts database*(19) January 29, 2015

31. Capital management disclosures*(20) - do -

32. Credit quality per class*(21) - do -

33. Maturity profile of financial liabilities*(22) - do -

*See suggested format attached.

We will inform you of other schedules that may be needed in the course of our audit. *Please see suggested format in Exhibit

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SUGGESTED FORMAT OF SCHEDULES

UNITED RE-GROWTH PHILIPPINES, INC. FOR THE YEAR ENDED DECEMBER 31, 2014

EXHIBIT

1. Aged list of receivables

Credit Terms Amount

No. of 1-30 31-60 61-90 Over Impaired Subsequent Debtor Days Limit Balance Current Days days Days 90 days* Financial

Assets Collections Remarks**

* Indicate specific date/year for accounts with material balances. ** Status of long-outstanding accounts/other pertinent information for the evaluation of the collectibility of

accounts.

2. Subsequent period cash receipts

Invoice OR Customer/Payor Particular/Description Number Amount Date Number Date

3. Rollforward analysis of allowance for doubtful accounts

Amount

Beginning balance Add provisions during the year Less write-offs Other adjustments (specify)

Ending balance

% of total accounts receivable

4. Rollforward of receivables

Amount

Beginning balance Add billings to customers Less collections made Other adjustments (specify)

Ending balance

5. Details of all material prepaid expenses

Payment Prepaid

Nature of Prepayment Date Period Covered

Amount Portion

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6. Detailed rollforward analysis and property cost and accumulated depreciation per property category

Land and Improvements

Buildings Improvements

Processing Equipment

Transportation Equipment

Furniture, Fixtures and

Equipment Consruction in

Progress Total

Cost Balance at January 1, 2012 Additions Reclassifications

Balance at December 31, 2012 Additions Reclassifications Disposal/retirements

Balance at December 31, 2014

Accumulated Depreciation

Balance at January 1, 2013 Additions

Balance at December 31, 2013 Additions Reclassifications Disposal/retirements

Balance at December 31, 2014

Net Book Value

As of 31 December 2014 As of 31 December 2013

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7. Detailed rollforward analysis and investment property cost and accumulated depreciation and impairment losses per property category (if any)

.

Land and Improvements

Buildings and Improvements

Consruction in Progress Total

Cost Balance at January 31, 2013 Additions Reclassifications Disposal/retirements

Balance at December 31, 2013 Additions Reclassifications Disposal/retirements

Balance at December 31, 2014

Accumulated Depreciation and Impairment Losses

Balance at January 31, 2013 Additions Reclassifications

Balance at December 31, 2013 Additions Reclassifications Impairment loss

Balance at December 31, 2014

Net Book Value As of 31 December 2014 As of 31 December 2013

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8. Detailed schedule of property and investment property additions / reclassifications

Asset Description Date Acquired Reference Cost

9. Detailed schedule of property and investment property sales/dispositions

Date Accumulated Net Book Income

Asset Description Acquired Retired Cost Depreciation Value Proceeds (Loss)

10. Details of refundable deposits

Rented Property/Location

Lessor

Start of Lease

End of Lease

Amount

11. Detailed schedule of accrued expenses

Nature of Subsequent Payments

accrual Total Date Amount Reference*

* Statement of account or sales invoice number 12. Detailed schedule of payables

Supplier/ Subsequent Payments

Payee Total Date Amount Reference*

* Statement of account or sales invoice number

13. Subsequent period cash disbursement

Supplier/ Particulars/ Invoice Check Accrued in Books?

Payee Description Number Amount Date Number Date BS date

Subsequent

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14. Details of related party transactions and balances

Related Party Total Transactions

Name Relationship Balance Nature Amount

Note: Please include all affiliates with which the Company did business during the year, including those with no outstanding balance as of balance sheet date. Related parties include:

(a) enterprises that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are under common

control with, the reporting enterprise. (This includes holding companies, subsidiaries and fellow subsidiaries);

(b) associates (see IAS 28, Accounting for Investments in Associates); (c) individuals owning, directly or indirectly, an interest in the voting power of the reporting enterprise that gives them significant influence over the enterprise, and close members of the family of any such individual;

close members of the family of an individual

are those that may be expected to influence, or be influenced by, that person in their dealings with the enterprise.

(d) key management personnel, that is, those persons having authority and responsibility for planning, directing and controlling

the activities of the reporting enterprise, including directors and officers of companies and close members of the families of such

individuals; and

(e) enterprises in which a substantial interest in the voting power is owned, directly or indirectly, by any person described in (c) or

(d) or over which such a person is able to exercise significant influence. This includes enterprises owned by directors or major

shareholders of the reporting enterprise and enterprises that have a member of key management in common with the reporting

enterprise.

In considering each possible related party relationship, attention is directed to the substance of the relationship, and not merely the

legal form.

15. Movements of stockholders’ equity balances (as applicable) Capital Stock – no. of shares issued

Treasury Shares (T/S)

Outstanding Shares

Total

At December 31, 2013 xxx,xxx,xxx xxx,xxx,xxx xxx,xxx,xxx Acquisitions of T/S xxx,xxx,xxx (xxx,xxx,xxx) – Issued from T/S (xxx,xxx,xxx) xxx,xxx,xxx – From unissued shares – xxx,xxx,xxx xxx,xxx,xxx

At December 31, 2014 xxx,xxx,xxx xxx,xxx,xxx xxx,xxx,xxx

Subscribed Capital Stock – no. of shares

Subscribed Issued Net

At December 31, 2013 xxx,xxx,xxx – xxx,xxx,xxx Subscriptions: New subscriptions xxx,xxx,xxx (xxx,xxx,xxx) xxx,xxx,xxx

At December 31, 2014 xxx,xxx,xxx xxx,xxx,xxx xxx,xxx,xxx

In amounts:

Capital Stock Issued and subscribed: Balance at Dec. 31, 2013 xxx,xxx,xxx Subscriptions and issuances xxx,xxx,xxx

Balance at Dec. 31, 2014 xxx,xxx,xxx

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Subscriptions Receivable Balance at Dec. 31, 2013 (xxx,xxx,xxx) Collections xxx,xxx,xxx Receivable on new subscriptions (xxx,xxx,xxx)

Balance at Dec. 31, 2014 xxx,xxx,xxx

Additional Paid-In Capital Balance at Dec. 31, 2013 xxx,xxx,xxx Premium on new issuances, subscriptions and treasury shares xxx,xxx,xxx

Balance at Dec. 31, 2014 xxx,xxx,xxx

Treasury Shares Balance at Dec. 31, 2013 (xxx,xxx,xxx) Acquisitions (xxx,xxx,xxx) Disposals xxx,xxx,xxx

Balance at Dec. 31, 2014 xxx,xxx,xxx

Retained Earnings Balance at Dec. 31, 2013 xxx,xxx,xxx Profit for the period xxx,xxx,xxx Cash Dividends (xxx,xxx,xxx)

Balance at Dec. 31, 2014 xxx,xxx,xxx

Unrealized gain on AFS investments Balance at Dec. 31, 2013 xxx,xxx,xxx Net gain/(loss) from fair value adjustments during the period xxx,xxx,xxx

Balance at Dec. 31, 2014 xxx,xxx,xxx

16. Details of operating expenses

Date Reference no.

Particulars Amount

17. Compensation of key management personnel

Short-term employee benefits P=xxx Pension benefits xxx Share-based payments xxx

Total P=xxx

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18. Lease disclosures

Lessor - Operating Lease Future minimum lease payments receivable under non-cancellable operating lease are as follows:

Amount

2014 2015 2016 2017 2018 2019 and beyond

Total

Lessee - Operating Lease Future minimum lease payments under non-cancellable operating lease are as follows:

Amount 2014 2015 2016 2017 2018 2019 and beyond

Total

Total future minimum sublease rentals expected to be received under non-cancellable operating leases at December 31, 2013 are as follows:

Amount

2014 2015 2016 2017 2018 2019 and beyond

Total

19. Schedule of taxes and licenses

Kind of Tax Official Receipt Number

Date Paid Amount

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20. Capital management disclosures

2014

Interest bearing loans and borrowings xxx,xxx,xxx Trade and other payables xxx,xxx,xxx Less cash and short term deposits (xxx,xxx,xxx)

Net debt xxx,xxx,xxx

Convertible preference share Xxx Equity Xxx Net unrealized gains reserve Xxx

Total capital Xxx

Capital and net debt Xxx

Gearing ratio (Debt-equity ratio) %

21. Credit risk

Neither past due nor impaired High

Grade Standard

Grade Substandard

Grade Past due or

impaired Total

Receivables

Others (specify)

Total

22. Maturity profile of financial liabilities

On

Demand Less than 3

months 3 to 12 months 1 to 5 years > 5 years Total

Accounts payable

Others (specify)