| 1 | Call to Order | Abstain |
| 2 | Proof of Notice and Certification of Quorum | Abstain |
| 3 | Approve Minutes of the Previous Stockholders' Meeting | For |
| 4 | Approve Management Report and Audited Financial Statements for the Year Ended Dec. 31, 2014 | For |
| 5 | Confirm and Ratify All Acts and Resolutions of Management and the Board of Directors from the Date of the Last Stockholders' Meeting | For |
| 6 | Approve the Authority to Enter into Management Agreements, Power Plant Operations Services Agreements and/or Shared Services Agreements between the Company and its Subsidiaries | Oppose |
| 7.1 | Elect Oscar M. Lopez | Oppose |
| 7.2 | Elect Federico R. Lopez | Oppose |
| 7.3 | Elect Richard B. Tantoco | For |
| 7.4 | Elect Peter D. Garrucho, Jr. | Oppose |
| 7.5 | Elect Elpidio L. Ibanez | Oppose |
| 7.6 | Elect Ernesto B. Pantangco | For |
| 7.7 | Elect Francis Giles B. Puno | Oppose |
| 7.8 | Elect Jonathan C. Russell | Oppose |
| 7.9 | Elect Edgar O. Chua | For |
| 7.10 | Elect Francisco Ed. Lim | For |
| 7.11 | Elect Arturo T. Valdez | For |
| 8 | Appoint the auditors | Oppose |
| 9 | Approve Other Matters | Oppose |
| 10 | Adjournment | For |
