PROMISSORY NOTE

For value received, indicated above as Loan Amount, I/we, the undersigned Borrower and Co-Borrower/s, jointly and severally promise to pay CAPEX FINANCE AND INVESTMENT CORPORATION
(hereinafter referred to as Lender), or its order, the Loan Amount plus interest based on the Amortization and Number of payments indicated above, beginning on the First Amortization Date up to and
inclusive of Last Amortization Date, aggregating to the Total Receivables, subject to and inclusive of interest at the Add-on Rate stipulated above.

The proceeds of this promissory note (Note) shall be used for personal consumption. Payments of interest and principal on this Note shall be made in lawful money of the Republic of the Philippines.

In case I/we fail to pay any amount payable under this Note as they fall due, whether on stipulated due date or by acceleration, I/we shall be declared to be in default, causing any and all outstanding
amounts on this Note, inclusive of interest, penalties, and other charges, without need of notice or demand, to become due and demandable. I/we agree that failure to pay any other obligations, which
I/we may now or in the future owe to the Lender, whether as principal/s or guarantor/s, or in the event of bankruptcy or insolvency, receivership, levy on execution, garnishment or attachment, death,
or in case of conviction/s for criminal offense/s by final judgment/s carrying with it/them the penalty of civil interdiction affecting all or any one of us, or in any of the cases covered by Article 1198 of
the Civil Code of the Philippines, shall likewise be construed as an event of default. I/We further agree that in case this Note is executed together with an authority to deduct, the occurrence of any
event that would render such authority inoperative, including my separation from the party implementing the deduction, shall be an event of default under this Note.

Upon the occurrence of any one or more of the events of default, which renders the amounts payable under this Note to be due and demandable, I/we jointly and severally agree to pay a penalty
equivalent to five percent (5%) per month of the unpaid amount due from due date, compounded monthly, until fully paid. I/We further agree to pay the sum of twenty-five percent (25%) of the total
amount due (which includes interests, charges, and penalties) in full and without any deduction, as and for attorney's fees whether actually incurred or not, exclusive of any judicial and extra-judicial
expenses and costs, such amount to bear the same rate of interest as the principal obligation, compounded monthly. However, when default is due to maternity leave or prolonged sick leave and
payment of the unpaid amortizations and interests therein would make it more difficult for the borrower to service, he/she has the option to re-structure the loan in a manner that the payment term
and amortization is suited to his/her current needs.

In the event of default, I/we hereby authorize and empower the Lender at its option at any time, without notice, to apply to the partial or full payment of this Note and/or any other particular obligation
or obligations of all or any one of us to the Lender, irrespective of the dates of maturity, whether or not said obligations are then due, any or all monies, securities, and things of value which are now
or which may hereafter be in its hands or deposit or otherwise to the credit of, or belonging to, all or any one of us. I/We further authorize the Lender to sell at public or private auction such as securities
or things of value for the purpose of applying their proceeds to such payments.

I/We hereby authorize the Lender to increase or decrease as the case maybe, the interest rate presently stipulated in this Note without any advance notice to me/us in the event a law or regulation is
passed or promulgated by the Bangko Sentral ng Pilipinas or appropriate government entities, increasing or decreasing such interest rate. The interest rate shall be adjusted based on the prevailing
interest rate at the time of re-pricing/renewal/extension until fully paid; provided however, that if I/we disagree with the new rate, I/we shall prepay within thirty (30) calendar days from notice of the
new rate, the outstanding balance with interest thereon at the last applicable rate. Failure to pay such balance within the 30-day period shall be deemed as my/our acceptance of the new rate.

I/We hereby waive demand, protest, and notice of any kind, and hereby consent to any and all the extensions, renewals, waivers, restructuring or modifications that may be granted by the Lender to
any one or all of us with respect to payment or other provisions of this Note. This Note shall be joint and several obligations of all makers, sureties, guarantors, and endorsers, and shall be binding upon
me/us, my/our heirs, executors, administrators, successors, and assigns.

Further, I/We hereby agree, acknowledge, and declare that at any time, the Lender shall have the right to assign, transfer, or convey to any Third Party/Parties any and all of the Lender’s rights, title,
interests, and benefits under this Note including but not limited to the right to collect any and all monies due or to become due under or in connection with this Note, the right to enforce against any
and all securities, things of value and/or collateral held by the Lender under this Note, and the right to indemnification for interests, charges, penalties, attorney’s fees, costs and other expenses in
accordance with the terms of this Note. The Lender shall be entitled to exercise this right without need of any prior notice or consent from me/us and without any further limitation.

It shall be understood that any assignment made by the Lender shall inure to the benefit of the successors, assigns and designees of the said Third Party Assignee and shall be binding upon any
subsequent owner of the Lender’s rights and interests in and to this Note.

I/we further declare that any action, which may arise out of or in connection with this Note, shall be filed exclusively in the proper courts of Makati City, whether the action be by or against any one or
all of us.

Pursuant hereto, I/we hereby acknowledge receipt of a copy of the following disclosure statement prior to the consummation of the credit transaction, and that I/we understand and fully agree to the
terms and conditions thereof.

DISCLOSURE STATEMENT ON LOAN/CREDIT TRANSACTION

(As required under R. A. 3765, Truth in Lending Act)

1. Loan Granted/ Renewed/Extended

2. FINANCE CHARGES
a. Interest from to
b. Additional Interest (broken period)
day(s) from to
c. Other charges incidental to the extension of credit
Total Finance Charges
AMOUNT TO BE FINANCED (Net of Finance Charges)
3. NON-FINANCE CHARGES
a. Insurance Premium
b. Taxes
c. Documentary Stamps Tax
d. Notarial Fees
e. Processing Fee
f. Others
Total Non-Finance Charges
4. Net Proceeds of Loan
5. Percentage of Finance Charges to Total Amount Financed
6. Effective Interest Rate
7. Schedule of Payment
Payable in payments of
8. This loan is wholly/partially secured by _______________________________.

BORROWER SIGNATURE
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