REPUBLIC OF THE PHILIPPINES)

City of Cebu ) S.S.

x------------------- -x

AFFIDAVIT OF NON-OPERATION

I, Jully Rose H. Padillo, of legal age, Filipino citizen, and presently residing at No.
1 Veterans Village, Brgy. Lahug, Cebu City, Philippines, after having been duly sworn to in
accordance with law, do hereby depose and say:

1. That I am the TREASURER of ICON CEBU DEVELOPMENT AND REAL

ESTATE CORPORATION, a corporation duly organized and existing under
the laws of the Philippines, with principal office at 11th Floor Apple One
Equicom Tower, Mindanao Ave. cor Biliran St., Cebu Business Park, Brgy. Barrio
Luz, Cebu City, Philippines.

2. That said corporation for the year ended December 31, 2017, has not
commenced commercial operations.

3. That, the stockholders and directors of the corporation intend to commence

operations in the year 2018.

4. That I am executing this affidavit in order to attest to the truth of the foregoing
and for the purpose of complying with the reportorial requirements of the Bureau
of Internal Revenue and Securities and Exchange Commission.

IN WITNESS WHEREOF, I have hereunto set my hand this 15th day of April 2018
in Cebu City, Philippines.

JULLY ROSE H. PADILLO

Treasurer
ICON CEBU DEVELOPMENT AND
REAL ESTATE CORPORATION

SUBSCRIBED AND SWORN to before me, this _____________, by the Affiant whom
I have identified through competent evidence of identity and who exhibited his
____________________ issued at ________ valid until _______________.

Doc. No. ___;

Page No. ___;
Book No. ___;
Series of 2018.