ARTICLES OF INCORPORATIONOF

KAWAYAN CORPORATION

The undersigned, for the purpose of forming a corporation for profit under the laws of the Province of Batanes, hereby adopt the following Articles of Incorporation:

Article I – Name

The name of this corporation is Kawayan Corporation.

Article II – Nature of Business

This corporation may engage in any activity or business permitted under the laws of the Republic of the Philippines and of the Province of Batanes.

Article III - Capital Stock