PHILIPPINE MINING DEVELOPMENT CORPORATIONAccomplishment Report for GY 2015

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SM1 Percentage of Mining Activities Completed

P roof of Accompli sh ment :

PMDC CY 2015 Chart ofActivities and other supporting

documents

a Exploration Stage 70o/o Actual over target 100o/o 100o/o

b Development Stage N/A Actual over target N/A N/A

c Production Stage l0o/o Actual over target 100o/o 100o/o

SM2Number of CSR Beneficiaries (Diwalwal,Dinagat, Kalinga)

L0o/o Actual over target 4,500 4,890Proof of Accomplishment:

Board ApprovedAccomolishment Reoort

SM3Percentage of Reforested Areas in PMDC

Mining Areast0o/o Actual over target

506/o

20140 Hectares

50o/o

20140 Hectares

Proof of Accomplishment:Board Approved

Accomplishment Report

SM4

Favorable Perception of the Mining Project

fThrough a Post Information, Education andCommunication (IEC) Evaluation Suruey;Scale of 1-5, 5 as Most Favorablel

5o/o Pass or fail Average of 3 Average of 3.86

Proof of Accomplishment:Copy of accomplished surveyforms, attendance sheets, and

certification

SM5 Stakeholders' Satisfaction Suruey 5o/o

90 and above =100o/o

80-89 = 90o/o

70-79 = 80o/o

60-69 = 70o/o

59 and below = 0o/o

90o/o

DAP was engaged as ThirdParty. No results yet on theSatisfaction Rating as the

Survey is still ongoing.

Sub-tutal 50o/o

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SM6 EBITDA t0o/o

Earnings beforeInterest,Tax,

Depreciation andAmortization

PhP 60.74 M PhP 67.74 M

Sub-Flta/ too/o

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SM7Percentage of Ore Shipments by OperatorsAccepted by Buyers

tlo/o Actual over target 100o/o 100o/oProof of Accomplishment:

OTPs and MOEPs

SM8Percentage of Unbidded Tenements withTechnical Data Request

L0o/o Actual over target t00o/o 100o/o

P roof of Accompli sh ment :

Communication letters withgovernment agencies

SM9Number of Cases Filed for Cancellation ofJoint Operating Agreement (JOA)

N/A Actual over target N/A N/A

Sub-bta/ 20o/o

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SMlOAverage Percentage of RequiredCompetencies Met

5o/o Pass or failTraining of theCompetency

Team

Training held in

October 2015.

SM11 ISO 9001: 2008 Cenification I0o/o Pass or fail ISO CertificationISO Certified in

lune 2015

SM12 Establishment of IT System 5o/o Pass or failFormulation offf Road Map

Done

Sub-bta/ 20o/oTotalWeiqht lOOo/o