INVESTORS BRIEFING Lance Gokongwei President and CEO Mike Liwanag - PowerPoint PPT Presentation

9M 2019 UNAUDITED RESULTS INVESTORS BRIEFING Lance Gokongwei President and CEO Mike Liwanag Senior Vice President

Agenda 9M 2019 Unaudited Results 1 Business Updates, Plans and Prospects 2 2

JG Summit: 3Q19 core net income sustained 1H19 double-digit growth • Q3 topline growth was mainly driven by In billion pesos Growth (%) vs SPLY RLC’s revenues from its China project, CEB’s 1Q19 19 2Q19 9 3Q19 19 9M19 Q1 Q1 Q2 Q2 Q3 Q3 9M 9M passenger and ancilliary segments, as well as RBank’s NIM expansion and trading gains Revenues 76.3 82.2 81.2 239.6 9% 11% 12% 11% • Core net income in Q3 grew in line with the overall pace in 1H19 as better profitability in Core net CEB, RBank and Petrochem offset slower income growth in URC and RLC after taxes 6.2 7.4 6.1 19.7 -2% 24% 12% 11% • Forex losses mainly from URC, CEB and Parent, and weaker performance of UIC Net income 7.4 10.2 4.9 22.5 54% 102% -1% 52% resulted in a flattish Q3 net income vs SPLY *attributable to equity holders of the parent Segment Breakdown (in billion pesos) Revenues, +11% Core net income after taxes, +11% % chg vs SPLY 1Q 2Q 3Q 9M % chg vs SPLY 239.6 9.6 240 +14% +97% 0% +35% 216.7 6.7 6.0 1Q 2Q 3Q 9M +40% +45% +40% +42% 19.7 26.1 4.3 22 -8% -16% -33% -19% 32.4 17.8 180 31.1 18 +7% +19% +80% +40% 7.3 +34% +28% +16% +25% 22.2 5.8 14 +45% +73% +510% +201% 63.6 +16% +20% +17% +18% 54.0 120 4.5 +20% +22% +2% +12% 2.0 10 4.0 4.9 +28% +184% -154% +151% 6 60 2.0 +9% +3% +6% +6% 99.8 94.3 4.5 2 3.9 +28% +11% +5% +14% (1.7) 0 -194% -178% -175% -185% -2 9M18 9M19 9M18 9M19 URC CEB RLC Petrochem Banks Others 2019 excludes PFRS16 adjustments while 2018 was restated for PFRS9&15 to achieve comparability 3

URC: Healthy topline growth on the back of BCF PH and Agro-Industrial & Commodities Q1 Q2 Q3 9M 9M Revenue Breakdown, 9M2019 Revenue 99.8 % chg vs LY +6% 94.3 21% Branded Consumer +8% 32.7 +6% 30.8 Foods Philippines 48% 33.7 32.8 +3% Branded Consumer -3% Foods International 33.3 30.7 +9% 31% Agro-Industrial & +9% Commodities 2018 2019 Net Income Strong performance across all product • categories in BCF PH, Animal Nutrition & 7.1 6.8 +4% Health, and Flour drove a faster Q3 topline 1.9 -5% 2.0 2.0 growth vs. Q2 2.2 1.9 +16% EBIT* continues to grow; while Q3 net • income declined as a result of higher forex 3.0 3.0 +3% losses 2018 2019 *excluding revaluation gain/loss of biological assets in Farms In PHP Billions 4 2019 excludes PFRS16 adjustments while 2018 was restated for PFRS9&15 to achieve comparability

CEB: YTD net income more than doubled Q1 Q2 Q3 9M 9M Revenue Breakdown, 9M2019 Revenue 63.6 +18% % chg vs LY 54.0 20% 18.9 +17% Passenger 16.2 +18% 23.5 Cargo +20% 73% 7% 19.6 +5% Ancilliary 21.2 18.3 +16% +22% Revenue 2018 2019 Net Income Double-digit revenue growth was sustained in • 7.0 +152% Q3 driven by strong passenger demand coupled with higher average fares and ancillary rev/pax 3.9 +108% 2.8 In spite of lower CASK in Q3, net forex and • 1.9 3.4 +138% mark-to-market losses led to a net loss for the 1.4 quarter -0.5 -0.3 -40% 2018 2019 *net loss was mainly driven by ROU depreciation and interest expense In PHP Billions 5 2019 excludes PFRS16 adjustments while 2018 was restated for PFRS9&15 to achieve comparability

RLC: Incremental contribution from China augmented the solid results of most divisions Q1 Q2 Q3 9M 9M Revenue Breakdown, 9M2019 Revenue 31.1 +40% % chg vs LY 22.2 Malls 28% +10% 31% 16.4 +80% Offices +27% 9.1 Hotels +14% 8.0 6.7 +19% IID -89% Residential +9% 6.3 6.8 +7% 11% China NA 23% 2018 2019 6% 1% Net Income Solid performance of most divisions and the » 7.3 additional contribution from the Phase 1 of +12% 6.6 China project drove Q3 topline growth 3.3 +3% 3.2 Conversely, Q3 net income grew slower due » to relatively lower margins from China, higher 2.2 +22% 1.8 depreciation expenses from newly opened Hotels and higher interest expense 1.8 1.5 +19% 2018 2019 In PHP Billions 6 2019 excludes PFRS16 adjustments while 2018 was restated for PFRS9&15 to achieve comparability

Petrochem: Favorable input prices narrowed net loss in Q3 Q1 Q2 9M Q3 Revenue EBITDA Net Income 32.4 26.1 -19% 11.2 7.5 -33% 1.9 3.6 10.7 9.0 -88% 0.3 -16% 1.0 0.8 0.5 1.3 0.8 -60% 10.4 1.3 -188% 9.6 0.4 -0.7 -8% 0.1 -91% -0.6 -173% -0.1 -0.3 -1.6 -191% -105% 2018 2019 -183% 2018 2019 2018 2019 Q3 topline declined faster as a result of » SALES ES VOLUME UME (MT) T) 9M18 9M19 %chg lower average selling prices (ASP) and 47,113 25,567 -46% *C2 (Ethylene) volumes, brought about by global 12,274 7,978 -35% *C3 (Propylene) economic slowdown caused by escalating 159,082 163,753 3% Pygas US-China trade tensions 83,700 77,471 -7% Mixed C4 Net loss in Q3 was narrower than previous » 180,534 189,209 5% PE quarters as the lower naphtha and LPG 126,531 121,477 -4% PP prices slightly tempered the impact of 609,234 585,457 -4% TOTAL lower ASP and higher interest expense *After eliminations In PHP Billions 7 2019 excludes PFRS16 adjustments while 2018 was restated for PFRS9&15 to achieve comparability

Robinsons Bank: Favorable rate environment boosted NIMs and trading gains in Q3 Revenues Net Interest Income Loans 71.7 +9% 65.7 6.0 +42% 27.8 +32% 21.0 4.3 3 2.2 2 +40% 3.0 +14% 2.6 1.5 1.1 44.7 +23% 43.9 2.0 +45% 0.9 -2% 1.4 1.0 0.9 +14% 1.9 +40% 1.4 0.8 0.9 +5% 9M18 9M19 2018 2019 2018 2019 Commercial Consumer Q1 Q2 Q3 9M Consolidate olidated d (PhpBn Bn) ) 9M201 018 9M201 019 Growth owth Consolidated loan portfolio expanded 9% to » Assets 115.4 109.8 -5% Php71.7 billion, led by faster growth in consumer loans Equity 12.5 16.7 33% Net interest income account for 80% of net » Gross TLP 65.7 71.7 9% revenues Gross NPLs 1.2 1.4 20% Current consolidated network of 167* » Capital Adequacy Ratio 16.3% 19.5% branches and 330 ATMs Tier 1 Ratio 15.5% 19.2% *Including 5 branch lites In PHP Billions 8 2019 excludes PFRS16 adjustments while 2018 was restated for PFRS9&15 to achieve comparability

JGS: Balance sheet remains healthy Consolidat dated ed Paren ent Dec 2018 Sep 2019 Growth Dec 2018 Sep2019 Growth Cash(1) 50.3 51.9 3% Cash 15.9 14.0 -12% Financial Debt 245.7 252.3 3% Total LT Debt 88.5 75.4 -15% Total ST Debt 5.1 5.0 Total LT Debt 210.2 204.8 -3% -2% Net Debt 77.6 66.4 -14% FX-Denominated 110.8 98.4 -11% Blended Cost of LT Net Debt 195.4 200.4 3% Debt 5.00% 4.69% D/E Ratio 0.7 0.6 Blended Avg. Remaining Life(2) 3.1 yrs 3.6 yrs Net D/E Ratio 0.5 0.5 Stable e recurr urring g dividen ends Schedule of parent LT debt maturities 16.4 4 48.3 .3 13.1 1 0.8 5.4 0.8 4.5 0.7 1.2 17.1 .1 1.1 2.9 1.8 1.6 1.1 5.3 5.0 0 - - 3.8 3.8 Current 2020 2021 2022 2023 2024 and 9M2018 9M2019 thereafter UIC MER URC RLC CEB PLDT GBPC In billion pesos except ratios (1) Cash, FVPL and available for sale (AFS) investments from Robinsons Bank and AFS on PLDT are excluded 9

Petrochem mainly contributed to the Group’s 9M2019 CAPEX Spending 9M19 CAPEX Spending Capacity expansion of • 69.2 BCFG PH & International, and AIC Land acquisitions • Development of malls, offices, • 47.9 32.4 hotels and warehouse facilities 36.9 13.4 Aircraft acquisitions • Flight and ground equipment • 9.5 17.1 19.9 Expansion projects • 7.7 18.7 Machineries and equipment • 7.0 4.6 9.1 7.2 6.1 Maintenance CAPEX • 9M18 9M19 2019 Budget URC Cebu Air RLC Petro/Olefins Banks Others In PHP Billions RLC’s CAPEX excludes development CAPEX and intercompany transfers 10 2019 excludes PFRS16 adjustments while 2018 was restated for PFRS9&15 to achieve comparability

Key Business Updates 11