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C03426-2017 SECURITIES AND EXCHANGE COMMISSION SEC 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) May 31, 2017 2. SEC Identification Number 167423 3. BIR Tax Identification No. 000-477-103 4. Exact name of issuer as specified in its charter MEGAWORLD CORPORATION 5. Province, country or other jurisdiction of incorporation Metro Manila 6. Industry Classification Code(SEC Use Only) 7. Address of principal office 28th Floor, The World Centre, 330 Sen. Gil Puyat Avenue, Makati City, Philippines Postal Code 1227 8. Issuer's telephone number, including area code (632) 867-8826 to 40 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 32,239,445,872 Preferrred 6,000,000,000 11. Indicate the item numbers reported herein Item 9(b) 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.

Megaworld Corporation MEG PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C) Section 4.4 of the Revised Disclosure Rules Subject of the Disclosure Press Release: MEGAWORLD TO BUILD NEW TOWER IN MCKINLEY WEST S BILLIONAIRE S ROW Background/Description of the Disclosure Please see attached Press Release. Other Relevant Information None Filed on behalf by: Name Designation Dohrie Edangalino Head-Corporate Compliance Group

1. May 31, 2017 Date of Report 2. SEC Identification Number: 167423 3. 4. MEGAWORLD CORPORATION Exact name of Issuer as specified in its charter 5. Metro Manila Province, Country or other jurisdiction of incorporation or organization 6. (SEC Use Only) Industry Classification Code 7. 28th Floor, The World Centre 330 Sen. Gil Puyat Avenue Makati City, Philippines 1227 Address of principal office 8. (632) 867-8826 to 40 Issuer's telephone number, including area code I 9. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA Title of Each Class Common Preferred Total Number of Shares of Stock Outstanding 32,239,445,872 6,000,000,000 38,239,445,872 10. Item 9(b) Please see attached Press Release. SIGNATURE Pursuant to the requirements of the Securities Regulation Code, the Issuer has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MEGAWORLD CORPORATION Issuer By: d. -A..._ FRANCI~N~ Senior Vice President and Corporate Information Officer May 31, 2017

MEGAWORLD TO BUILD NEW TOWER IN MCKINLEY WEST S BILLIONAIRE S ROW Three-level furnished penthouse suites will have own private elevators, swimming pools MANILA, Philippines, May 31, 2017 Following the success of St. Moritz Private Estates, property giant Megaworld is building another residential property in the elusive neighborhood of McKinley West. The Albany, will be a low-density, low-rise residential tower, composed of only 64 spacious units with own private balconies, ranging from two-bedroom (123 square meters) to four-bedroom suites (up to 349 square meters). The tower will be strategically located beside the quiet neighborhood of Forbes Park and McKinley West Village. Designed by award-winning UK-based architectural firm Broadway Malyan, the tower will feature three-level penthouse suites with their own private keycard-operated elevators that open directly to the resident s private foyer. Each penthouse suite has four spacious bedrooms in the first two levels, maids room with own toilet and bath, five toilet & bathrooms with the master bedrooms having their own bathtubs, powder room, walk-in closets, expansive dining area with a 7.4-meter ceiling height, and a roof terrace that features a private pool, relaxation deck and a grilling garden. Every living room in penthouse suites will have a skylight ceiling for natural lighting. The two-bedroom and three-bedroom suites in the lower floors, on the other hand, will also have their private keycard-operated elevators that open directly to the resident s private foyer, spacious bedrooms with walk-in closets, and toilet and bathrooms with personal bathtubs for the master bedroom. All residential suites will be furnished with kitchen systems by Leicht of Germany; kitchen and cooking appliances by Bosch and Gaggenau of Germany; toilet and bathroom fixtures by Duravit s Philippe Starck Collection, Hansgrohe Axor Starck and Grohe. The Albany s two-bedroom suite is priced at approximately P35-million while the penthouse suite is around P96-million. This is Megaworld s first residential development that exudes the superlative features of everything exclusive, private and sophisticated, describes Rachelle Penaflorida, vice president for sales and marketing, Megaworld. The tower will have a two-level amenity deck that features a wellness spa, sauna, fitness center, entertainment and game room, infinity pool with submerged lounge deck, kids play park, cabanas, function halls and complimentary WiFi.

The tower will also have four levels of parking exclusive for the residents. Inspired by the low-rise, ultra-luxury apartments in London s posh neighborhoods around Hyde Park, The Albany will form part of McKinley West s billionaires row along the township s Chateau Road. Megaworld expects to sell around P3-billion worth of residential inventory from this new development. ###