Brian B.

Sabalo 3A Legal Forms

SAN MIGUEL CORPORATION

BOARD RESOLUTION NO. 1

General meeting held on 04 April 2013

Principal office of the Corporation

WHEREAS, the Board of Directors of the SAN MIGUEL

CORPORATION deemed it desirable, necessary, and in the best interest
of the corporation to acquire a certain 50 hectare property located at Block
41, Taguintingan Municipality, Abra and covered by TCT No. 1234567 (the
“Property”), to be appropriated for the construction of an airport.

NOW THEREFORE, BE IT RESOLVED, that this Corporation

acquire the property under a Deed of Absolute Sale for a consideration of
Four Hundred Fifty Million Pesos (P 450, 000, 000.00) to be paid in full
and in cash.

RESOLVED FINALLY, That the President and/or Corporate

Secretary be, as each is hereby, authorized to do such acts as may be
necessary or required to implement the foregoing.

Approved and adopted this 4th Day of April 2013 at Pasig City,
Philippines.

RAMON TANG JAIME ZUBEL DE AYALLA

President Vice President

CAPTAIN CRUNCH MR. PRINGLES

Director Director

BRIAN BORJA SABALO

Corporate Secretary