GOVERNMENT SERVICE INSURANCE SYSTEM TRIAL BALANCE As of June 30, 2014



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Cash and Cash Equivalents 32,979,418,183 - Social Insurance Contributions Receivable 29,494,333,257 - Optional Life Insurance Premiums Receivable 2,253,340,428 - Pre-need Insurance Premiums Receivable 16,813,284 - Employee Compensation Insurance Premiums Receivable 4,755,638,437 - General Insurance Premiums Receivable 1,213,579,575 - Allowance for Impairment Loss - Contributions and Premiums Receivable - 11,989,630,344 Consolidated Loan 148,269,781,516 - Policy Loans 24,873,476,107 - Salary Loan 15,937,125,220 - Real Estate Loans 10,929,189,950 - Emergency/Calamity Loans 16,704,768,255 - Deeds of Conditional Sale 6,042,853,712 - ecard/ecard Plus Cash Advance Loan 2,505,040,713 - Pension Loan 934,075,085 - Pensioners' Restructured Loan 157,525,186 - Pensioners' Emergency Loan 200,931,785 - Emergency Loan Assistance 671,945,554 - Summer One Month Salary Loan 654,728,937 - Educational Assistance Loans 1,847,806 - Educational Assistance Fund Program Loan 2,375,083,603 - Government Loans 1,068,620,994 - Private Loans 2,118,699,679 - Interim Loan 91,168,588 - Lease Purchases 111,401,704 - Fly PAL 391,414 - Stock Purchase Loans 32,288,609 - Home Emergency Loan Program 10,563,061,248 - Allowance for Impairment Loss - Loans and Receivable - 25,925,922,178 Accounts for Clearing - 3,118,930,867 Stocks - Traded - HFT 125,053,465 - ROP Notes & Bonds - AFS 359,904,794,146 - Corporate Bonds - AFS 28,351,158,057 - Global Peso Notes - AFS 1,658,413,350 - Stocks - Traded - AFS 106,956,890,054 - Stocks - Non - Traded 780,694,881 - Externally Managed Funds - Domestic Investments 29,354,422,139 - ROP Notes & Bonds - HTM (0) - Investments - Securities - Equities - Subsidiaries 145,966,652 - Land 6,451,052,725 - Land Improvements 19,277,297 - Building & Building Improvements 2,661,045,448 - Furniture, Equipment and Fixture 325,848,242 - Construction in Progress 309,859,871 - Information Technology (IT) Resources 942,784,206 - Investment Properties 31,529,529,654 - Interest Receivable - Consolidated Loan 9,664,668,327 - Interest Receivable - Salary Loan 1,995,500,291 - Interest Receivable - Summer One Month Salary Loan 66,646,215 - Interest Receivable - ecard Cash Advance Loan 8,257,384 - Interest Receivable - ECard Plus Cash advance Loan 240,507,462-2014 2nd Quarter Trial Balance (Unaudited) Page 1 of 5

Interest Receivable - Fly PAL 90,472 - Interest Receivable - Emergency/Calamity Loans 498,313,649 - Interest Receivable - Emergency Loan Assistance 246,699,380 - Interest Receivable - Housing Loan/REL/DCS 1,439,703,885 - Interest Receivable - Pension Loan 7,843,266 - Interest Receivable - Pensioners' Restructured Loan 136,961 - Interest Receivable - Pensioners' Emergency Loan 10,597 - Interest Receivable - Educational Assistance Loan 2,106,723 - Interest Receivable - Educational Assistance Fund Program Loan 100,178,035 - Interest Receivable - Private Loan 823,153,174 - Interest Receivable - Government Loan 4,393,529 - Interest Receivable - Interim Loan 908,737 - Interest Receivable - Deficiency Billing 18,476,270 - Interest Receivable - Dishonored Checks 373,112 - Interest Receivable - Stock Purchase Loan 184,229,088 - Interest Receivable - Other Receivable - PPD Osteoarthritis 74,806 - Interest Receivable - Premium in Arrears 51,923,654 - Interest Receivable - Investments - ROP N&B (Peso) 3,589,042,488 - Interest Receivable - Investments - ROP N&B (FCD) 823,004,697 - Interest Receivable - Investments - Corporate Bonds 348,941,571 - Interest Receivable - Investments - Global Peso Notes 20,368,750 - Interest Receivable - Investments - HYSTP 23,282,910 - Interest Receivable - Investments - Others 0 - Interest Receivable - Receivables from Agencies with MOA 340,785,083 - Accrued Rental 38,733,554 - Other Receivable - Agencies with MOA 1,279,846,231 - Other Receivable - Agency 8,484,193 - Sundry Accounts Receivable 1,517,327,743 - Due from Reinsurers 9,314,864,327 - Accounts Receivable for Deficit Cases 51,387,866 - Paintings & Tapestries 416,918,054 - Prepaid Expenses 0 - Other Receivable - PPD Osteoarthritis 21,429,286 - Supplies and Materials in Stock 16,138,465 - Advances to Vendors/Contractors 5,000,000 - Deposit and Indent Orders 8,251,207 - Cash Advances 8,568 - Property Under Litigation 131,311,884 - Deficiency Claims Receivable 126,597 - Allowance for Impairment Loss - Other Receivables - 5,162,727,590 Social Insurance Claims, Losses and Benefits Payable - 853,347,213 Optional Life Insurance Claims, Losses and Benefits Payable - 7,148,841 Pre-need Insurance Claims, Losses and Benefits Payable - 3,374,285 Employee Compensation Insurance Claims, Losses and Benefits Payable - 21,246,814 General Insurance Claims, Losses and Benefits Payable - 567,938,654 Dividends Payable - 6,319,766 Due to Reinsurers - 2,660,840,605 Provision for Unadjusted Claims - 9,658,277,110 Provisions for Pending Litigation - 142,405,323 Funds Held In Trust - 509,758,698 Sundry Accounts Payable - 2,553,721,069 2014 2nd Quarter Trial Balance (Unaudited) Page 2 of 5

Due to Agency - 214,734,953 Derivatives - Deliverable and Non-Deliverable - 211,642,037 Deferred Premium Collection - 1,273,778,595 Unrealized Income - 883,469,221 Unearned Premiums - 563,937,703 Unrecognized Bank Collection - 613,217,035 SIF- Appropriations -Old Age Benefits - 471,897,000,000 SIF- Appropriations -Policies in Force - 66,144,000,000 SIF- Appropriations -Survivorship Benefits - 76,550,000,000 SIF- Appropriations -Disability Benefits - 15,183,000,000 SIF- Appropriations -Burial Benefits - 3,512,000,000 SIF- Appropriations -Contingencies - 1,350,000,000 GIF- Appropriations -Losses - 2,569,000,000 GIF- Appropriations -Contingencies - 7,989,000,000 OLIF- Appropriations -Optional Additional & UOLI - 2,740,800,000 OLIF- Appropriations -Health Insurance Plan - 900,000 OLIF- Appropriations -College Education Assurance Plan - 286,700,000 OLIF- Appropriations -Mortgage Redemption Insurance - 303,400,000 OLIF- Appropriations -Sales Redemption Insurance - 75,200,000 OLIF- Appropriations -Emergency Loan Redemption Insurance - 128,500,000 OLIF- Appropriations -ecard Cash Plus Advance Redemption Insurance - 5,300,000 OLIF- Appropriations -Conso-Loan Redemption Insurance - 4,521,100,000 OLIF- Appropriations -Contingencies - 403,100,000 PNF- Appropriations -EduChild - 1,996,000,000 PNF- Appropriations -Health - 2,000,000 ECIF- Appropriations -Claims Pending Settlement - 1,000,000 ECIF- Appropriations -Future Claims - 6,011,000,000 ECIF- Appropriations -Rehabilitation Services - 1,000,000 ECIF- Appropriations -Occupational Safety Fund - 36,000,000 ECIF- Appropriations -ECC Operating Fund - 26,000,000 ECIF- Appropriations -Contingencies - 50,000,000 Property Replacement Fund - 27,487,087 Beginning Balance, January 1-27,968,721,189 Surplus Adjustments - 964,568,946 Revaluation Surplus - 6,497,544,859 Net Unrealized Gains(Losses) on Investments - 112,270,746,434 Social Insurance Contributions - 38,924,305,834 Optional Insurance Premium - 503,381,304 Employee Compensation Insurance Premium - 1,023,862,356 Pre-need Insurance Premium - 0.00 General Insurance Premium - 2,079,276,041 Interest on Premium Arrearages - 2,348,400 Commission on Reinsurance - 138,027,498 Gain(Loss) on Foreign Exchange on Insurance - 10,664,422 Interest on Conso Loan - 7,422,311,010 Interest on Policy Loans - 750,979,900 Interest on ecard Plus Cash Advance - 52,833,505 Interest on Salary Loans - 647,987,800 Interest on Real Estate Loans - 105,968,831 Interest on Pension Loan - 108,470,756 Interest on Pensioners' Restructured Loan - 6,541,266 2014 2nd Quarter Trial Balance (Unaudited) Page 3 of 5

Interest on Deeds of Conditional Sale - 109,535,214 Interest on Emergency/Calamity Loans - 1,112,117,099 Interest on ecard Cash Advance - 3,934,022 Interest on SOS Loan - 21,567,777 Interest on Emergency Loan Assistance - 22,443,504 Interest on Educational Assistance Loan - 2,384,246 Interest on Educational Assistance Fund Program Loan - 67,587,370 Interest on Government Loans - 63,369,137 Interest on Private Loans - 105,039 Interest on Stock Purchase Loan - 14,320,796 Interest on Fly PAL Pay Later Loans - 213,336 Surcharge on Loans in Arrears - 162,871,975 Service Income on Loans - 623,061,804 Gain(Loss) on Investment - Derivatives - 1,172,126,142 Unrealized gain(loss) - HFT - 9,042,065 Dividend on Stocks - HFT - 5,664,086 Interest on ROP Notes & Bonds - AFS - 4,260,245,244 Interest on Corporate Bonds - AFS - 701,957,259 Interest on Global Peso Notes - AFS - 40,294,118 Income(Loss) on Investment in EMF - 197,991,586 Gain on Sale of Stocks - AFS - 2,542,663,504 Gain(Loss) on Sale of Bonds - AFS - 138,152,951 Dividend on Stocks - AFS - 1,848,488,683 Gain(Loss) on Foreign Exchange - AFS - (134,332,817) Gain on Bond Transactions - Others - 11,742,604,663 Interest on ROP Notes & Bonds - HTM - 5,999,127,249 Gain(Loss) on Sale of Bonds - HTM - 339,555,967 Gain(Loss) on Foreign Exchange - HTM - (716,955,499) Equity Share in Net Inc. (Dec.) in the Net Assets of the Subsidiaries - (85,411,111) Gain(Loss) on Foreign Exchange - Others - (12,570,951) Other Investment Revenue - 129,140,634 Gain(Loss) on Valuation of Investment Properties - 347,411,963 Gain(Loss) on Disposition of Acquired Assets - 3,619,470 Rental from Investment Properties - 104,226,089 Other Service Income - 1,060,007 Interest Revenue on Agencies with MOA - 118,365,901 Interest Revenue from Other Receivable - PPD Osteoarthritis - 44,326 Gain (Loss) on Disposition of Assets - (1,375,180) Interest on Bank Deposits - 3,994,972 Refund of Gratuity/Discount from Lumpsum Ret Benefits - 523,064 Revenue from Rental - 72,709,357 Loss Recoveries - 1,079,885 Others - 517,038,009 Social Insurance Claims, Losses and Benefits 37,127,475,470 - Optional Life Insurance Claims, Losses and Benefits 406,865,066 - Employee Compensation Insurance Claims, Losses and Benefits 64,240,278 - Pre-need Insurance Claims, Losses and Benefits 220,745,608 - General Insurance Claims, Losses and Benefits (93,204,183) - Investments Fees and Others 11,163,328 - Expenses on E - card 21,726,101 - Foreclosure Expenses 3,869,294-2014 2nd Quarter Trial Balance (Unaudited) Page 4 of 5

Expenses on Investment Properties 19,273,531 - Expenses on Loans 67,053 - Reinsurance Expense 1,140,883,617 - Other Insurance Expense/Other Expenses PYA 488,533 - Extra Remuneration (146,312) - Salaries and Wages 676,075,924 - Allowances 293,785,956 - Statutory Expenses 392,115,272 - Bonus/Awards 73,083,811 - Fringe Benefits 216,903,598 - Overtime Expenses 35,051,612 - Contractual Services 23,873,778 - Separation Pay 180,500 - Retainers & Consultants Fees 4,040,000 - Rental Expenses 16,408,785 - Auditing Expenses 10,749,964 - Education, Training & Scholarship 1,883,430 - Seminars and Workshops 6,307,328 - Traveling Expenses 10,846,065 - Athletic and Cultural Expenses 8,484,926 - Supplies and Materials Expenses 20,212,896 - Fuel & Gasoline Consumption 7,008,391 - Assets & Facilities Maintenance Expense 87,572,737 - Insurance Expense 122,561,821 - Representation Expenses 2,336,478 - Public Relations and Advertisement 10,204,588 - Electric and Water Consumption 82,114,474 - Communication Services 59,680,136 - Contributions (Others) 82,463,104 - Impairment Loss 564,304,280 - MOA Related Expenses 4,285,152 - Miscellaneous Expenses 14,681,912 - Depreciation Expense 255,893,905-959,789,925,720 959,789,925,720 2014 2nd Quarter Trial Balance (Unaudited) Page 5 of 5