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Voting trust holders of 5% or More<br />

No person holds more than five per centum (5%) of a class under a voting trust agreement or similar<br />

arrangement.<br />

Changes in Control<br />

In December 28, 2010, NENACO purchased the shareholdings of Aboitiz Equity Ventures, Inc. (AEV) in<br />

ATS comprising 1,889,489,607 common shares at a purchase price of approximately PhP3.55 billion<br />

and the shareholdings of Aboitiz & Company, Inc. (ACO) in ATS comprising 390,322,384 common<br />

shares at a purchase price of approximately PhP734 million.<br />

In February 2011, as a result of the mandatory Tender Offer, NENACO purchased an additional<br />

120,330,004 common shares in ATS. NENACO now owns 2,400,141,995 common shares of ATS,<br />

equivalent to 98.12%<br />

Item 5. DIRECTORS AND A<br />

EXECUTIVE OFFICERS<br />

Board of Directors, Including Independent Directors and Executive Officers<br />

The names, ages, citizenship, position and offices held or will hold, and brief description of business<br />

experience during the past 5 years (except those years stated otherwise) and other directorships held<br />

in reporting companies, including name of each company, of all directors and executive officers are as<br />

follows:<br />

Mr. Jon Ramon M. Aboitiz, 62 years old, Filipino, has served as Chairman of the Board since 2002 and a<br />

Director since 1996. His other positions include Chairman of the Board of Directors of Aboitiz Equity<br />

Ventures, Inc., Aboitiz and Company. Inc., and Aboitiz Jebsen Bulk Transport Corporation, and Vice<br />

Chairman of the Board of Directors of Union Bank of the Philippines and Aboitiz Power Corporation;<br />

President of Aboitiz Foundation, Inc. and Trustee and Vice President of the Ramon Aboitiz Foundation,<br />

Inc. He graduated with a degree in Commerce major in Management from the University of Santa<br />

Clara, California, U.S.A.<br />

Mr. Sulficio O. Tagud, Jr., 60 years old, Filipino, has served as President, Chief Executive Officer, and<br />

Director of ATS since December 2010. He has also served as the Chairman and President of KGLI-NM<br />

Holdings, Inc. since July 2008; Chairman and Chief Executive Officer of NENACO since August 2004;<br />

and President of One Urban Resource and Property Management Company since September 2003. He<br />

graduated Class Valedictorian with a Bachelor of Science degree in Business Administration, major in<br />

Economics (Magna Cum Laude) at Xavier University, Cagayan De Oro City. He also completed his<br />

Masters in Industrial Economics at the Center for Research and Communication in Manila, and<br />

Masters in Business Administration at the Ateneo de Manila University. He also completed Real Estate<br />

Development Program at the Urban Land Institute at Washington, D.C., U.S.A.<br />

Mr. Jeremias E. Cruzabra, 44 years old, Filipino, has served as Director of ATS since December 2010.<br />

He has also served as the Chief Finance Officer of NENACO since April 2004; Chief Finance Officer and<br />

Board Director of KGLI-NM Holdings, Inc. since July 2008; Court-Appointed Receiver of Selegna<br />

Holdings Corporation since November 2006; Chief Finance Officer (and later Trustee) of Sapphire<br />

Securities, Inc. (owned by the Brunei Investment Agency) from 1997 to 1999. He started his career with<br />

SGV & Co. (a member company of Ernst & Young) from 1988 to 1992. Mr. Cruzabra, who is a Certified<br />

Public Accountant (CPA), graduated with a Bachelor of Science degree in Commerce, major in<br />

Accounting (Magna Cum Laude) from the University of Luzon, and has completed his Masters in<br />

Business Administration at Murdoch University in Perth, Western Australia.<br />

Amb. Raul Ch. Rabe, 70 years old, Filipino, has been an Independent Director of ATS since December<br />

2010. He has also served as a member of the Board of Directors of KGLI-NM Holdings, Inc. since July<br />

2008; Bancommerce Investment Corporation since 2007; PET Plans, Inc. since 2007; Vivant<br />

5

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