SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Nov 15, 2023

2. SEC Identification Number

34218

3. BIR Tax Identification No.

000-153-610-000

4. Exact name of issuer as specified in its charter

AYALA CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

37F to 39F, Ayala Triangle Gardens Tower 2, Paseo De Roxas Corner Makati Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(02)7908-3000

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	619,807,425
Preferred A Shares (Reissued)	5,244,515
Preferred B Series 2 Shares	30,000,000
Voting Preferred Shares	200,000,000

11. Indicate the item numbers reported herein

Item 9

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.

Ayala CorporationAC

PSE Disclosure Form 4-21 - Redemption of Security References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Result of Redemption of Preferred “B” Series 1 Shares (ACPB1)
Background/Description of the Disclosure
We redeemed today the 20,000,000 Ayala Corporation Preferred “B” Series 1 shares (“ACPB1”), representing all of the outstanding ACPB1 shares, at the redemption price equal to the issue price of P500 per share plus all accrued and unpaid dividends until today based on the dividend rate of 5.2500% per annum. The redeemed shares will form part of our treasury shares until re-issued.

Date of Approval by Board of Directors	Sep 28, 2023
Record Date, if applicable	Oct 27, 2023
Redemption Price	100% of the issue price
Redemption Period	November 15, 2023
Redemption Date	Nov 15, 2023

Effects on the capital structure

Issued Shares

Type of Security/Stock Symbol	Before	After
Common Shares/ AC	635,052,277	635,052,277
Preferred A/ ACPA	6,755,485	6,755,485
Preferred A Shares (Reissued)/ ACPAR	5,244,515	5,244,515
Preferred B Series 1 Shares/ ACPB1	28,000,000	28,000,000
Preferred B Series 2 Shares/ APB2R	30,000,000	30,000,000
Voting Preferred Shares	200,000,000	200,000,000

Outstanding Shares

Type of Security/Stock Symbol	Before	After
Common Shares/ AC	619,807,425	619,807,425
Preferred A Shares (Reissued)/ ACPAR	5,244,515	5,244,515
Preferred B Series 1 Shares/ ACPB1	20,000,000	0
Preferred B Series 2 Shares/ APB2R	30,000,000	30,000,000
Voting Preferred Shares	200,000,000	200,000,000

Treasury Shares

Type of Security/Stock Symbol	Before	After
Common Shares/ AC	15,244,852	15,244,852
Preferred A/ ACPA	6,755,485	6,755,485
Preferred B Series 1 Shares/ ACPB1	8,000,000	28,000,000

Listed Shares

Type of Security/Stock Symbol	Before	After
Common Shares/ AC	627,324,878	627,328,028
Preferred A/ ACPA	6,755,485	6,755,485
Preferred A Shares (Reissued)/ ACPAR	5,244,515	5,244,515
Preferred B Series 1 Shares/ ACPB1	28,000,000	28,000,000
Preferred B Series 2 Shares/ APB2R	30,000,000	30,000,000

Effect(s) on foreign ownership level, if any	From 21.44% to 21.93%

Other Relevant Information
This disclosure is being amended to report the result of redemption of Preferred “B” Series 1 Shares (ACPB1) today, November 15, 2023. Also updated are the number of listed common shares and effect on foreign ownership level.