Cebu Air, Inc. CEB. PSE Disclosure Form List of Top 100 Stockholders Reference: Section of the Revised Disclosure Rules

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1 CR The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party. Cebu Air, Inc. CEB PSE Disclosure Form List of Top 100 Stockholders Reference: Section of the Revised Disclosure Rules Type of Securities Common Preferred Others N/A N/A For the period ended Sep 30, 2018 Description of the Disclosure Please find attached the list of the top 100 stockholders and PDTC Participants of Cebu Air, Inc. as of September 30, 2018 Filed on behalf by: Name Designation Rosalinda Rivera Corporate Secretary

2 COMPANY NAME : CEBU AIR, INC. Page 1 LIST OF TOP 100 STOCKHOLDERS As Of September 30, 2018 STOCKHOLDER'S NAME OUTSTANDING & OUTSTANDING & TOTAL PERCENTAGE NATIONALITY ISSUED SHARES ISSUED SHARES HOLDINGS TO (FULLY PAID) (PARTIALLY PAID) (SUBSCRIBED) TOTAL 1 CPAIR HOLDINGS, INC. 400,816, ,816, FILIPINO 2 PCD NOMINEE CORPORATION (FILIPINO) 102,364, ,364, FILIPINO 3 PCD NOMINEE CORPORATION (NON-FILIPINO) 95,849, ,849, OTHERS 4 JG SUMMIT HOLDINGS, INC. 6,595, ,595, FILIPINO 5 PABLO M. PAGTALUNAN &/OR FRANCISCA P. PAGTALUNAN 50, , FILIPINO 6 ELIZABETH YU GOKONGWEI 40, , FILIPINO 7 AMON TRADING CORPORATION 38, , FILIPINO 8 CLIFFORD JAMES L. UY 36, , FILIPINO 9 STEPHEN EARL L. UY 36, , FILIPINO # RAUL VELOSO DEL MAR 16, , FILIPINO # ELIZABETH REYES 13, , FILIPINO # LUIS GANTIOQUI ROMERO 10, , FILIPINO # ROSELLER A. MENDOZA 6, , FILIPINO # ERIC MACARIO BERNABE 5, , FILIPINO # ESTEVEZ VILLARUZ (ESVILL), INC. 5, , FILIPINO # JOHN T. LAO 5, , FILIPINO # BRIGIDA T. GUINGONA 4, , FILIPINO # FRANCISCO PAULINO V. CAYCO 4, , FILIPINO # SALLY CHUA CO 4, , FILIPINO # VICENTE LIM CO 4, , FILIPINO # FREDERIC FRANCOIS FAVRE-MARINET 3, , FRENCH # ERIC MACARIO BERNABE 3, , FILIPINO # LEODIGARIO S.P. AQUINO &/OR DANAH R. ANTONIO 2, , FILIPINO # ANTONIO F. LAGAREJOS 2, , FILIPINO # ESTATE OF ANGELINA T. LOCSIN 2, , FILIPINO # MARITA ANN ONG 2, , FILIPINO # ANTHONY V. ROSETE 2, , FILIPINO # MARIO F. SALES 2, , FILIPINO # MANUEL M. DOMINGO 1, , FILIPINO # FELIPE B. MIRANDA &/OR ROSA LINDA T MIRANDA 1, , FILIPINO # JAYSON E. REYES 1, , FILIPINO # MARC LAWRENCE P DEL ROSARIO 1, , FILIPINO # OFELIA C. DELA CRUZ-DATU 1, , FILIPINO # MYRA P. VILLANUEVA 1, , FILIPINO # STEPHEN T. TEO AND/OR TERESITA R. TEO 1, , FILIPINO # BENJAMIN L. DY BUNCIO 1, , FILIPINO # ADRIENNE NICOLE YIU LU 1, , FILIPINO # MARILEX REALTY DEVELOPMENT CORPORATION 1, , FILIPINO # EMMA UY MATIAO 1, , FILIPINO # VICTORINO I. ORGA 1, , FILIPINO # LUCILLE CHIONGBIAN SOLON 1, , FILIPINO # JOHN TANSIONGKUN 1, , FILIPINO # RAUL ROLAND E. VERAME 1, , FILIPINO # PONCIANO V. CRUZ, JR FILIPINO # CHRISTINE JOY E. REYES FILIPINO # ROMEO B. MOLANO FILIPINO # ZEFERINO P. ARROYO, JR FILIPINO # ROMEO B. MOLANO FILIPINO # PAULENE L. SARMIENTO ITF MICHAELA S. JUAN FILIPINO # CAROLINA A. SIMPAS &/OR NOLE H. SIMPAS FILIPINO # PACIFICO B. TACUB FILIPINO # ROSENDA VIVIAN L. DY FILIPINO # ROY EDUARDO T. LUCERO FILIPINO # REMEDIOS TIU TAN FILIPINO # MARK ANTHONY DE LEON MALCAMPO FILIPINO # EDITHA S. AGAYAN FILIPINO # ROMULO DIMAAPI BUENVIAJE FILIPINO # JAN CARLO DOMINGO BUNDA FILIPINO # JEFF CONRAD D. BUNDA FILIPINO # MELVIN JAMIO CARBONEL FILIPINO # GENEROSA GONZALES DOOLANI FILIPINO # MOHAN GONZALES DOOLANI FILIPINO # SUNITA GONZALES DOOLANI FILIPINO # LOURDES ESTEVEZ FILIPINO # RONALD F. SALINDONG FILIPINO # STEPHEN G. SOLIVEN FILIPINO # BUENAFLOR A. TABIO FILIPINO # RODELIO C. VALENCIA FILIPINO # MILAGROS P. VILLANUEVA FILIPINO # MYRNA P. VILLANUEVA FILIPINO # MARIANO F. CASTRO FILIPINO # GUILLERMO F. GILI, JR FILIPINO # M.J. SORIANO TRADING, INC FILIPINO

3 # GRACE GENNIE S. SARMIENTO FILIPINO # NEIL ARVIN T. TIA FILIPINO # JESUS SAN LUIS VALENCIA FILIPINO # GIDEON MACABUHAY LIBIRAN FILIPINO # ROMMEL DE GUZMAN MACABUHAY CANADIAN # ISMAEL EUFEMIO S. LUCOT III FILIPINO # FREDERICK E. FERRARIS &/OR ESTER E. FERRARIS FILIPINO # GRACE MACABUHAY SEGOVIA FILIPINO # SHAREHOLDERS ASSOCIATION OF THE PHILIPPINES, INC FILIPINO # RECOLITO FERDINAND N. CANTRE, JR FILIPINO # RONALD S. BES FILIPINO # DENZELL L. CHAM FILIPINO # JEDWYN TCHOI FILIPINO # OWEN NATHANIEL S. AU ITF: LI MARCUS AU FILIPINO # JOSE F. BUENAVENTURA FILIPINO # ANTONIO L. GO FILIPINO # FREDERICK D. GO FILIPINO # JAMES L. GO FILIPINO # JOHN L. GOKONGWEI FILIPINO # LANCE Y. GOKONGWEI FILIPINO # ROBINA Y. GOKONGWEI-PE FILIPINO # OH WEE KHOON SINGAPOREAN # CORNELIO T. PERALTA FILIPINO GRAND TOTAL (96) 605,953, ,953,330 THIS IS A COMPUTER GENERATED REPORT AND IF ISSUED WITHOUT ALTERATION, DOES NOT REQUIRE ANY SIGNATURE.

4 1 of 3 OUTSTANDING BALANCES FOR A SPECIFIC COMPANY Company Code - CEB CEBU AIR, INC. Business Date: September 28, 2018 BPNAME HOLDINGS CITIBANK N.A. 68,953,486 THE HONGKONG AND SHANGHAI BANKING CORP. LTD. -CLIENTS' ACCT. 44,399,340 DEUTSCHE BANK MANILA-CLIENTS A/C 26,072,456 COL Financial Group, Inc. 13,389,029 SOCIAL SECURITY SYSTEM 8,352,050 GOVERNMENT SERVICE INSURANCE SYSTEM 3,486,530 STANDARD CHARTERED BANK 3,082,185 PHILIPPINE EQUITY PARTNERS, INC. 3,062,802 BANCO DE ORO - TRUST BANKING GROUP 2,663,819 MAYBANK ATR KIM ENG SECURITIES, INC. 2,571,789 BPI SECURITIES CORPORATION 2,460,950 CLSA PHILIPPINES, INC. 1,935,000 TOWER SECURITIES, INC. 1,290,880 BDO SECURITIES CORPORATION 1,251,920 FIRST METRO SECURITIES BROKERAGE CORP. 1,060,117 RCBC TRUST & INVESTMENT DIVISION 1,011,400 MBTC - TRUST BANKING GROUP 989,013 MERIDIAN SECURITIES, INC. 728,660 PLATINUM SECURITIES, INC. 673,520 SB EQUITIES,INC. 659,900 UNITED COCONUT PLANTERS BANK-TRUST BANKING 526,720 WEALTH SECURITIES, INC. 480,070 ABACUS SECURITIES CORPORATION 444,210 R. NUBLA SECURITIES, INC. 423,880 BDO NOMURA SECURITIES INC 361,290 PAPA SECURITIES CORPORATION 359,855 SOLAR SECURITIES, INC. 331,550 RCBC SECURITIES, INC. 293,810 BELSON SECURITIES, INC. 271,070 AB CAPITAL SECURITIES, INC. 239,150 PHILSTOCKS FINANCIAL INC 216,555 DEUTSCHE BANK MANILA-CLIENTS A/C 214,350 E. CHUA CHIACO SECURITIES, INC. 209,440 TRITON SECURITIES CORP. 200,430 QUALITY INVESTMENTS & SECURITIES CORPORATION 200,160 TRI-STATE SECURITIES, INC. 199,100 MAA GENERAL ASSURANCE PHILS., INC. 185,760 RCBC TRUST & INVESTMENT DIVISION - VARIOUS TAXABLE ACCTS 183,740 AP SECURITIES INCORPORATED 180,850 UNITED COCONUT PLANTERS LIFE ASSURANCE CORPORATION 180,000 DA MARKET SECURITIES, INC. 174,130 BANK OF COMMERCE - TRUST SERVICES GROUP 166,500 CITISECURITIES, INC. 142,080 EASTERN SECURITIES DEVELOPMENT CORPORATION 135,515 REGINA CAPITAL DEVELOPMENT CORPORATION 130,510 ALPHA SECURITIES CORP. 127,830 ASIASEC EQUITIES, INC. 126,900 R. S. LIM & CO., INC. 123,330 SUMMIT SECURITIES, INC. 119,730 GOLDSTAR SECURITIES, INC. 116,000

5 2 of 3 BPNAME HOLDINGS LAND BANK OF THE PHILIPPINES-TRUST BANKING GROUP 105,000 UCPB SECURITIES, INC. 100,890 OPTIMUM SECURITIES CORPORATION 99,500 BDO-TIG SECURITIES SERVICES 95,060 CAMPOS, LANUZA & COMPANY, INC. 90,470 A. T. DE CASTRO SECURITIES CORP. 90,350 MERCANTILE SECURITIES CORP. 88,900 FIRST ORIENT SECURITIES, INC. 88,004 EVERGREEN STOCK BROKERAGE & SEC., INC. 86,030 TIMSON SECURITIES, INC. 80,380 STANDARD SECURITIES CORPORATION 78,720 PNB SECURITIES, INC. 77,940 YU & COMPANY, INC. 73,550 MANDARIN SECURITIES CORPORATION 72,660 GOLDEN TOWER SECURITIES & HOLDINGS, INC. 70,660 PREMIUM SECURITIES, INC. 69,450 R. COYIUTO SECURITIES, INC. 68,430 EAGLE EQUITIES, INC. 65,230 STRATEGIC EQUITIES CORP. 63,640 UNICAPITAL SECURITIES INC. 62,322 WESTLINK GLOBAL EQUITIES, INC. 61,400 YAO & ZIALCITA, INC. 58,960 UPCC SECURITIES CORP. 58,890 BERNAD SECURITIES, INC. 54,740 RTG & COMPANY, INC. 53,970 SALISBURY BKT SECURITIES CORPORATION 52,120 SunSecurities, Inc. 50,160 THE HONGKONG AND SHANGHAI BANKING CORP. LTD. -CLIENTS' ACCT. 50,000 BENJAMIN CO CA & CO., INC. 46,250 ANSALDO, GODINEZ & CO., INC. 41,980 KING'S POWER SECURITIES, INC. 40,740 PNB TRUST BANKING GROUP 40,000 CUALOPING SECURITIES CORPORATION 39,800 IGC SECURITIES INC. 36,330 A & A SECURITIES, INC. 35,800 F. YAP SECURITIES, INC. 35,340 VSEC.COM, INC. 34,900 AURORA SECURITIES, INC. 33,460 INVESTORS SECURITIES, INC, 30,380 HDI SECURITIES, INC. 30,370 S.J. ROXAS & CO., INC. 30,300 SINCERE SECURITIES CORPORATION 29,960 IMPERIAL,DE GUZMAN,ABALOS & CO.,INC. 28,020 FIDELITY SECURITIES, INC. 27,000 TANSENGCO & CO., INC. 25,600 JSG SECURITIES, INC. 24,900 MDR SECURITIES, INC. 24,600 B. H. CHUA SECURITIES CORPORATION 24,320 G.D. TAN & COMPANY, INC. 20,640 SECURITIES SPECIALISTS, INC. 19,850 GUILD SECURITIES, INC. 17,070 PAN ASIA SECURITIES CORP. 16,060 VENTURE SECURITIES, INC. 15,410 ASIA PACIFIC CAPITAL EQUITIES & SECURITIES CORP. 15,250 UOB KAY HIAN SECURITIES (PHILS.), INC. 15,000 MOUNT PEAK SECURITIES, INC. 14,000 ALAKOR SECURITIES CORPORATION 12,734

6 3 of 3 BPNAME HOLDINGS NEW WORLD SECURITIES CO., INC. 11,680 THE FIRST RESOURCES MANAGEMENT & SECURITIES CORP. 11,210 GLOBALINKS SECURITIES & STOCKS, INC. 10,620 JAKA SECURITIES CORP. 10,580 H. E. BENNETT SECURITIES, INC. 10,000 AB CAPITAL & INVESTMENT CORP. - TRUST & INVESTMENT DIV. 10,000 DAVID GO SECURITIES CORP. 9,400 J.M. BARCELON & CO., INC. 9,100 WONG SECURITIES CORPORATION 8,400 CHINA BANKING CORPORATION - TRUST GROUP 8,400 LUCKY SECURITIES, INC. 7,750 I. B. GIMENEZ SECURITIES, INC. 7,580 BA SECURITIES, INC. 7,480 DBP-DAIWA CAPITAL MARKETS PHILPPINES, INC. 7,260 NIEVES SECURITIES, INC. 6,800 DIVERSIFIED SECURITIES, INC. 6,700 R & L INVESTMENTS, INC. 6,000 APEX PHILIPPINES EQUITIES CORPORATION 5,070 CHINA BANK SECURITIES CORPORATION 5,000 EQUITIWORLD SECURITIES, INC. 3,980 INTRA-INVEST SECURITIES, INC. 3,050 LUYS SECURITIES COMPANY, INC. 3,000 FIRST INTEGRATED CAPITAL SECURITIES, INC. 2,750 EAST WEST CAPITAL CORPORATION 2,650 LOPEZ, LOCSIN, LEDESMA & CO., INC. 2,500 I. ACKERMAN & CO., INC. 1,300 ASTRA SECURITIES CORPORATION 1,000 LITONJUA SECURITIES, INC. 1,000 DEUTSCHE REGIS PARTNERS, INC. 812 SARANGANI SECURITIES, INC. 400 AAA SOUTHEAST EQUITIES, INCORPORATED 200 If no written notice of any error or correction is received by PDTC within five (5) calendar days from receipt hereof, you shall be deemed to have accepted the accuracy and completeness of the details indicated in this report.

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