EXHIBIT 7

PLDT Inc.

Calculation of Ratio of Earnings to Fixed Charges

For the years 2012 through 2016



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|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------------------------------------------------------- | --- | - | ---- | --- | ------ | ---- |  | --- | ------ | - |  | ---- | ------ | - | ---- | --- | ------ | - |  | --- | ------ | -
|                                                                                                                                                                           |  | 2016(1)                                                  |     |   | 2016 |     |        | 2015 |  |     | 2014   |   |  | 2013 |        |   | 2012 |    
|                                                                                                                                                                           |  | (in millions, except ratio of earnings to fixed charges) |    
|Earnings: Income before income tax                                                                                                                                         |  |                                                          |     |   |      |     |        |      |  |     |        |   |  |      |        |   |      |     |        |   |  |     |        |  
|Pre-tax income from continuing operations before adjustment for non-controlling interest in consolidated subsidiaries or income or loss from equity investees subsidiaries |  | US$                                                      | 443 |   |      | Php | 22,071 |      |  | Php | 26,638 |   |  | Php  | 44,148 |   |      | Php | 41,632 |   |  | Php | 43,606 |  
|Add (Deduct):                                                                                                                                                              |  |                                                          |     |   |      |     |        |      |  |     |        |   |  |      |        |   |      |     |        |   |  |     |        |  
|Fixed Charges (see description below)                                                                                                                                      |  |                                                          | 213 |   |      |     | 10,622 |      |  |     | 9,015  |   |  |      | 8,266  |   |      |     | 9,060  |   |  |     | 10,237 |  
|Amortization of capitalized interest                                                                                                                                       |  |                                                          | 17  |   |      |     | 829    |      |  |     | 941    |   |  |      | 1,198  |   |      |     | 1,221  |   |  |     | 2,315  |  
|Capitalized interest                                                                                                                                                       |  |                                                          | (11 | ) |      |     | (566   | )    |  |     | (370   | ) |  |      | (442   | ) |      |     | (421   | ) |  |     | (914   | )
|                                                                                                                                                                           |  |                                                          |     |   |      |     |        |      |  |     |        |   |  |      |        |   |      |     |        |   |  |     |        |  
|Total Earnings(2)                                                                                                                                                          |  | US$                                                      | 662 |   |      | Php | 32,956 |      |  | Php | 36,224 |   |  | Php  | 53,170 |   |      | Php | 51,492 |   |  | Php | 55,244 |  
|                                                                                                                                                                           |  |                                                          |     |   |      |     |        |      |  |     |        |   |  |      |        |   |      |     |        |   |  |     |        |  
|Fixed Charges                                                                                                                                                              |  |                                                          |     |   |      |     |        |      |  |     |        |   |  |      |        |   |      |     |        |   |  |     |        |  
|Interest on loans and related items                                                                                                                                        |  | US$                                                      | 151 |   |      | Php | 7,522  |      |  | Php | 6,289  |   |  | Php  | 5,429  |   |      | Php | 5,086  |   |  | Php | 6,319  |  
|Capitalized interest                                                                                                                                                       |  |                                                          | 11  |   |      |     | 566    |      |  |     | 370    |   |  |      | 442    |   |      |     | 421    |   |  |     | 914    |  
|Amortization of debt issuance costs and debt discount                                                                                                                      |  |                                                          | 5   |   |      |     | 230    |      |  |     | 231    |   |  |      | 164    |   |      |     | 1,539  |   |  |     | 1,051  |  
|Estimated financing component of rent expense(3)                                                                                                                           |  |                                                          | 46  |   |      |     | 2,304  |      |  |     | 2,125  |   |  |      | 2,231  |   |      |     | 2,014  |   |  |     | 1,953  |  
|                                                                                                                                                                           |  |                                                          |     |   |      |     |        |      |  |     |        |   |  |      |        |   |      |     |        |   |  |     |        |  
|Total Fixed Charges                                                                                                                                                        |  | US$                                                      | 213 |   |      | Php | 10,622 |      |  | Php | 9,015  |   |  | Php  | 8,266  |   |      | Php | 9,060  |   |  | Php | 10,237 |  
|                                                                                                                                                                           |  |                                                          |     |   |      |     |        |      |  |     |        |   |  |      |        |   |      |     |        |   |  |     |        |  
|Ratio (a/b)(2)                                                                                                                                                             |  |                                                          | 3.1 |   |      |     | 3.1    |      |  |     | 4.0    |   |  |      | 6.4    |   |      |     | 5.7    |   |  |     | 5.4    |  
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|(1) | We maintain our accounts in Philippine pesos, the functional and presentation currency under IFRS. For convenience, the Philippine peso financial information as at
and for the year ended December 31, 2016 has been converted into U.S. dollars at the exchange rate of Php49.77 to US$1.00, the Philippine peso-dollar rate as quoted through the Philippine Dealing System as at December 31, 2016.
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|(2) | For purposes of this ratio, Earnings consist of: (a) pre-tax income from continuing operations before
adjustment for non-controlling interest in consolidated subsidiaries or income or loss from equity investees, (b) fixed charges, (c) amortization of capitalized interest, (d) distributed income
of equity investees, and (e) share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges; less the sum of the following: (1) capitalized
interest, (2) preference security dividend requirements of consolidated subsidiaries, and (3) the non-controlling interests in pre-tax income of subsidiaries
that have not incurred fixed charges.
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Fixed charges consist of interest expense and
capitalized interest, amortized premiums, discounts and capitalized expenses related to indebtedness, an estimate of interest within rental expense, and preference security dividend requirements of consolidated subsidiaries.



|(3) | Rent expense substantially represents payments for the leased circuits by PLDT. Historically, PLDT has been using one-third
of rent expense as a reasonable estimate of the financing component of rent expense, since it is impracticable to determine the actual financing component of rent expense.
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