MINUTES OF THE ANNUAL MEETING OF

STOCKHOLDERS OF
ALAALA HOLDINGS, INC.

Held on 30 May 2018 at the principal office of the Corporation

At SDC Building, 109 Leviste St., Salcedo Village, Makati City

PRESENT:
Stockholders No. of Shares

LORALI, INC. 39,999,995

ALEXANDER T. LOPEZ 1
SARAH L. LOPEZ 1
MARCO ALEJANDRO L. LOPEZ 1
LORNA CONCEPCION L. LOPEZ 1

Total Shares Present 39,999,999

Total Issued and Outstanding Shares 40,000,000

ABSENT:
ALESSANDRA DOROTEA L. LOPEZ

I. CALL TO ORDER

The Chairman, Mr. Alexander T. Lopez, called the meeting to order and
presided over the same. The Corporate Secretary, Mr. Marco Alejandro L.
Lopez, proceeded to record the minutes of the proceedings.

II. PROOF OF NOTICE/CERTIFICATION OF QUORUM

The Corporate Secretary confirmed that notices for the meeting were
duly sent and thus certified as to the existence of a quorum for the valid
transaction of business.
Minutes of the Annual Meeting
of the Shareholders of
Alaala Holdings, Inc.
Held on 30 May 2018
Page 2 of 4
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III. INCREASE IN AUTHORIZED CAPITAL STOCK

It was reported that Lorali, Inc., a private corporation organized under

the laws of Philippines, offered to invest by way of purchasing Twenty Four
Thousand Nine Hundred Ninety Nine (24,999) shares of the Corporation.

To accommodate the proposed investment by Lorali, Inc., presented for

the stockholders’ consideration is the proposal to increase the authorized
capital stock of the Corporation to Forty Million One Hundred Thousand
Pesos (P40,100,000.00).

Upon motion duly made and seconded, the following resolutions were
approved:

“RESOLVED, That the Corporation be, as it

is hereby, authorized to increase its authorized capital
stock from Forty Million Pesos (P40,000,000.00),
divided into Forty Million (40,000,000) shares with a
par value of One Peso (P1.00) per share to Forty
Million One Hundred Thousand Pesos
(P40,100,000.00), divided into Forty Million One
Hundred Thousand (40,100,000) shares with a par
value of One Peso (P1.00) per share;

“RESOLVED FURTHER, That the

Corporation be, as it is hereby, authorized to amend
its Articles of Incorporation to reflect the foregoing
increase in its authorized capital;

“RESOLVED FINALLY, That the President

and/or Corporate Secretary be, as each of them is
hereby, authorized to sign, execute and deliver any
and all documents as may be necessary and/or
appropriate to effect the foregoing resolutions.”
Minutes of the Annual Meeting
of the Shareholders of
Alaala Holdings, Inc.
Held on 30 May 2018
Page 3 of 4
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III. APPROVAL OF THE MINUTES OF THE

PREVIOUS STOCKHOLDERS’ MEETING

Presented for consideration were the minutes of the meetings of the

stockholders held last 20 November 2017.

After discussion and upon motion duly made and seconded, the minutes
of the Annual Stockholders’ Meeting held on 20 November 2017 were
approved.

V. ELECTION OF DIRECTORS

Upon nomination duly made and seconded, the following were elected
directors of the Corporation to serve as such for the ensuing year and until their
successors shall have been elected and qualified:

ALEXANDER T. LOPEZ
SARAH L. LOPEZ
MARCO ALEJANDRO L. LOPEZ
LORNA CONCEPCION L. LOPEZ
ALESSANDRA DOROTEA L. LOPEZ
Minutes of the Annual Meeting
of the Shareholders of
Alaala Holdings, Inc.
Held on 30 May 2018
Page 4 of 4
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IV. ADJOURNMENT

There being no further business to transact, the meeting was thereupon

adjourned.

MARCO ALEJANDRO L. LOPEZ

Corporate Secretary/Director

MINUTES READ AND APPROVED:

ALEXANDER T. LOPEZ
Chairman/President/Director