PIZZA CORPORATE PRESENTATION NOVEMBER 2019 Company Overview - - PowerPoint PPT Presentation

PIZZA CORPORATE PRESENTATION

NOVEMBER 2019

SHAKEY’S PIZZA ASIA VENTURES, INC.

2 SNAPSHOT

• Shakey’s Pizza Asia Ventures, Inc. is one of the leading operators of fast casual restaurants in

the Philippines, focused on family casual dining.

• The Shakey’s brand is the Philippines’ #1 full-service pizza chain with over 60% market share in

that category. It is also the single-largest brand of full-service casual dining chain restaurants in the Philippines.* It is a strong and well-established brand thanks to a differentiated menu, iconic and well-loved products, a distinct store environment, and highly guest-centric service.

• The Peri brand is an emerging fast casual and full-service restaurant chain in the Philippines. Its

mainstay is charcoal-grilled chicken, marinated for 24 hours, served with an assortment of unique sauces to choose from.

• Vision: To be the preferred and dominant family casual dining restaurant in the Philippines,

and successful in our chosen overseas markets, serving pizza as our core product.

• Store Network: 250+ Shakey’s and Peri stores across the Philippines – a mix of company-
• wned and franchised. Different store formats including those located in malls and those that

are free-standing.

• Key Management: Vicente L. Gregorio - President & CEO, Manuel T. del Barrio - Vice

President & CFO, Jorge Q. Concepcion - Shakey’s Philippines General Manager, Marielle C. Santos – Peri General Manager, Alois Brielbeck - In-House Commissary General Manager

*Source: Euromonitor, 2018

Revenues (In USD Mill) 94 105 120 140 152

166

2014 2015 2016* 2017 2018 2019F**

9 10 13 15 17

18

2014 2015 2016* 2017 2018 2019F**

*Based on recurring figures **Consensus of active brokers

Net Income (In USD Mill)

Century Pacific Group 53% GIC Private Equity 18% Public 29% Dine-In 58% Delivery & Others 42% Company- Owned 56% Franchised 44% Metro Manila 43% Luzon (ex-MM) 43% Visayas 10% Mindanao 4%

FULL-YEAR FINANCIALS 2018 SYSTEM-WIDE SALES & STORE NETWORK BREAKDOWN OWNERSHIP STRUCTURE

Company Overview

3 9.0 9.5 10.1 10.8 11.5 12.1 2011 2012 2013 2014 2015 2016

20%

• f a typical middle-income household

budget goes to food consumed

• utside home. This totals more than PHP500 billion

annually, showing a strong propensity to spend.

Source: NSO, Nielsen, Euromonitor, BSP

Furnishings Fashion Food Fun

Restaurants and hotels are growing household consumption sectors The consumer foodservice industry has been growing in recent years

In USD Billions

Full-service pizza chain restaurants show faster growth than the whole full-service restaurant sector

13% vs 6%

CAGR from 2013-2018

The Overall Scenario

Well-positioned to take advantage of the growing foodservice industry 4 F’s in the consumer economy to benefit from strong economic growth

4

Shakey’s has 43 years of strong brand legacy and counting

1954

First Shakey’s Pizza Parlor opened in Sacramento, California

1975

First store in the Philippines

1987

The Prieto family became the master franchisor in the Philippines

1999

Acquired Shakey’s trademark for the Philippines in perpetuity

2003

Positioned as an American fast casual dining restaurant for families

2014

Acquired Shakey’s trademark for Middle East, Asia (ex Japan, Malaysia) including China, Australia, and New Zealand in perpetuity

2016

Century Pacific Group (CPGI) and Arran (GIC) acquired control and took the Company public

2018

228 stores by end 2018

2019

Acquired Peri-Peri Charcoal Chicken and Sauce Bar

INVESTMENT HIGLIGHTS

Industry-Leading Financials Experienced Management

Investment Highlights

• Multiple sales channels and store formats; simple operations
• Low upfront cost and strong cash generation lead to shorter store-level payback

periods compared to the industry

• Extensive track records in food and restaurant operations
• Entry of Century Pacific Group as strong and committed shareholders provides

synergies with other food businesses

• Well-loved brand with more than 40 years of history in the Philippines
• Iconic products served in a distinct store environment
• No royalty payments, plus additional revenues from franchisings
• Superior profitability and margins versus peers
• Gearing levels improve as debt remains stable while EBITDA and equity grow
• Operating cash flows sufficient for CapEx and other investments

Market Leadership Brand Strength & Ownership Scalable Business Model

• Dominates the full-service pizza chain market with 64%* market share
• 22%* market share in the full-service (pizza and non-pizza) category - #1 in that

space as well

*Source: Euromonitor, 2018

6

7

1

#1 Full-Service Restaurant in the Philippines

The full-service pizza chain market is dominated by Shakey’s. Max's 13.5% Pizza Hut 10.4% Kenny Rogers 5.7% Pancake House 4.1% TGI Fridays 2.4% Others 41.6%

22.3% Latest Euromonitor report states that Shakey’s leads the Philippine chained full- service restaurant industry with 22.3% market share as of 2018.

Pizza Hut 29.9% Papa John's 1.7% Others 4.2%

64.2% 2018 data shows that Shakey’s dominates the full-service pizza chain market by sales since 2011 until present.

FULL-SERVICE CHAIN FULL-SERVICE PIZZA CHAIN

Source: Euromonitor

8

DIFFERENTIATED MENU WITH ICONIC PRODUCTS AND OFFERINGS FOR ALL

Pizza World-famous thin crust and hand-tossed pizzas with many different choices Chicken and Mojos Signature dish - fried chicken paired with Shakey’s famous mojos*

*Thinly-sliced potatoes coated with Shakey’s breading

and fried to a golden brown perfection

Pasta Hearty pasta with a wide range of sauces and toppings paired with garlic bread Starters Ranging from fries, mojos, squid rings, chips, and chicken Soup Home-style soups loaded with flavor and goodness Salad Extensive choice of salad for health-conscious customers Desserts Wide range of after-meal desserts

BUNDLED OFFERINGS CATERING TO FAMILIES AND GROUPS BRING UP AVERAGE CHECKS

2

Strong and Well-Established Brand

Shakey’s offers a differentiated menu with iconic and well-loved products.

9

Though originally from the U.S., PIZZA has owned the Shakey’s brand for the Philippines since 1999.

Source: Asia’s Top 1000 Brands Survey by Campaign Asia, in partnership with Nielsen

BRAND OWNERSHIP

• No royalty payments, leading to

shorter payback period and sustainably higher margins versus peers

• Revenue from licensing fees and

royalties from franchisees

• Freedom to execute and react faster to

market changes

• Opportunity for expansion into

international markets

2018 PHILIPPINE TOP 100 RESTAURANT BRANDS

2

Strong and Well-Established Brand

Shakey’s offers a beautiful and distinct store environment to every customer and has full control and ownership of its brand.

With its over 40 year history in the Philippines, Shakey’s is one of the most recognizable brands in the local food service industry. 3 2 1

10 Dine-In

• Most popular sales channel due to

unique family and friends experience

• Aim to “WOW” the guest

Delivery

• Delivery available nationwide
• Single delivery hotline number

(#77-777) can be used Carryout

• Convenient and fast method of sales

Functions

• Free-standing stores have function

rooms for events such as parties and company gatherings Online Sales

• Active online and mobile presence

with own website and mobile app

• http://www.shakeyspizza.ph

SuperCard

• A very popular paid loyalty card
• PHP499 annual fee

Mall Stores 120 – 250 sqm

55%

Free-Standing Stores 300 – 400 sqm

40%

Others 120 – 180 sqm

5%

3

Proven and Scalable Business Model

Multiple sales channels and store formats provide convenience and accessibility to Shakey’s customers and allow for market and expansion flexibility.

3

Asset-Light Approach

11

Firmly positioned in the fast casual segment (A, B, and upper C market) that delivers high margins, good volumes, and scale Benefitting from key consumer trends – eating

• ut more and

upgrading from fast food to casual dining Own commissary for proprietary raw materials protects key supply chain and maintains consistency and control over quality Economies of scale and purchasing synergy Long-term leases for store locations at attractive rentals Presence of standalone stores (i.e. those outside malls) lead to low rent-to-sales ratio Business model and strong discipline leads to typical payback period of 3-4 years Low upfront cost and strong cash generation per store

3

Proven and Scalable Business Model

Shakey’s is a well-established brand, while operating on an asset-light model.

1

Brand Positioning

2

Vertical Integration

4

Short Payback Period

12

4

Experienced Management Team

VISION: to be the PREFERRED and DOMINANT family casual dining restaurant

Highly experienced professionals in their respective areas of expertise; governance mantra of recruiting the best home-grown or external talent

Members Committees*

• Audit Committee
• Board Risk Oversight Committee
• Corporate Governance Committee
• Related Party Transaction Committee

DIRECTORS INDEPENDENT DIRECTORS

*All chaired by an Independent Director

BOARD COMPOSITION

9 4

• Over 30 years of successful experience in the food

business; proven management and leadership track record in foodservice retail set-up, expansion, and turnaround management

• Started career in the first ever Shakey’s branch in the

Philippines; key driver of Shakey’s brand strategy,

• rganization culture, core values, and mission since 2003

VICENTE GREGORIO

President & CEO

MANUEL DEL BARRIO

VP & CFO

• Previously Assistant Vice President for Finance of Century

Pacific Food, Inc. (CNPF) and The Pacific Meat Company, Inc.

• Worked in accounting positions at several leading

companies

JORGE CONCEPCION

GM - Shakey’s Philippines

• Over 30 years of experience in consumer-related

business

• Significant experience in the U.S. foodservice industry for

about 10 years in numerous managerial positions

ALOIS BRIELBECK

GM – In-House Commissary

• Over 30 years of experience in the foodservice business
• Moved to Asia in 1986, taking up positions in pastry

kitchens in Hong Kong and Tokyo

• Moved to the Philippines in 2000 as Chief Operating

Officer for Culinary Systems Specialists Incorporated

• Appointed as Commissary General Manager in 2005

MARIELLE SANTOS

GM - Peri

• Over 20 years of experience in the food service industry
• Previously held several leadership roles at Shakey’s with a

proven track record, handling human resources, guest engagement, and the delivery business

15.5% 13.9% 12.2% 11.8% 9.8% 9.8%

2016* 2017 2018 PIZZA Industry Average**

8.6% 2.9% 6.4% 5.2% 1.7% 4.2%

2016* 2017 2018 PIZZA Industry Average**

20.0% 20.8% 19.7% 16.8% 16.8% 16.0%

2016* 2017 2018 PIZZA Industry Average**

11.1% 10.9% 11.1% 7.1% 6.9% 6.8%

2016* 2017 2018

Net Margin

PIZZA Industry Average**

13

5

Industry-Leading Profitability

Shakey’s generates superior margins versus peers.

MARGINS

*Based on recurring figures **Composed of publicly listed Philippine foodservice restaurant companies

19.7% 20.1% 19.8% 14.3% 13.3% 13.9%

2016* 2017 2018

EBITDA Margin

PIZZA Industry Average**

RETURN ON EQUITY FREE CASH FLOW TO SALES OPERATING CASH FLOW TO SALES

Strategic Priorities

Establish market leadership and strong brand positioning in the full-service, fast casual, family dining space Grow our store base in both existing and new markets, locally and internationally, through an increasing company-

• wned network and a well-established

franchising model Increase same-store sales growth by developing multiple sales channels and continuously providing innovative products to enhance our iconic base offering

14

Support operational improvements across both store network and corporate support in order to create efficiencies and enhance profitability Continue to develop best-in-class

• rganizational

capabilities

LATEST FINANCIAL PERFORMANCE & OUTLOOK

Financial Results Highlights

+30%

EBITDA GROWTH

13%

3Q 9M

16

+27%

NET INCOME GROWTH

+11%

3Q 9M

SAME-STORE SALES GROWTH

FLAT FLAT

3Q 9M

SYSTEM-WIDE SALES GROWTH

+11% +9%

3Q 9M

9M 2019 Summarized P&L

17 In PHP Mill 9M 2018 9M 2019 Change YoY System-wide Sales 6,824 7,427 9% Total Revenue 5,490 5,897 7% Cost of Sales (3,966) (4,246) 7% Gross Profit 1,524 1,651 8% Operating Expenses (725) (746) 3% EBITDA 1,004 1,136 13% EBIT 799 905 13% Income before Tax 683 767 12% Net Income 535 594 11% Earnings per Share 0.35 0.39 11% Margins Gross Profit 27.8% 28.0% +0.2 pps EBITDA 18.3% 19.3% +1.0 pps EBIT 14.6% 15.3% +0.7 pps Net Income 9.7% 10.1% +0.4 pps

• Top line growth sustained via

CONTINUED STORE NETWORK EXPANSION AND PERI ACQUISITION amidst flattish SSSG

• Net income REVERTS TO

DOUBLE-DIGIT GROWTH

• HIGHER GROSS MARGIN due

to lower raw material costs, inventory hedges, and favorable FX

• COMPANY-WIDE EFFICIENCY

PROGRAMS drive operating margins higher

5% 4%

0%

SSSG

222 228 238 2 2 3 25 224 230 266

9M18 FY18 9M19

Peri Stores Shakey's Int'l Stores Shakey's PH Stores

18

In PHP Bill

Sales Growth Driven by Shakey’s Store Expansion and Peri Acquisition; SSSG Remains Flattish

5.5

5.9

9M18 9M19

In PHP Bill

7%

YoY Growth in 9M19

SSSG & Total Store Count Revenues System-wide Sales 6.8

7.4

9M18 9M19

9%

YoY Growth in 9M19

• 36 NET NEW STORES year-to-date primary driver of sales and revenue
• SSSG flattish in the ABSENCE OF PRICE INCREASE and amidst COMPETITIVE

PRESSURES particularly for delivery

19

Total PH Store Network

As of 3Q19

Domestic Store Network Breakdown by Region

47%

Metro Manila (MM)

39%

Luzon Ex-MM

10%

Visayas

4%

Mindanao

*Map colors show % population of the country by region. The darker the color, the higher the % population. Source: Philippine Statistics Authority 2015

+21

Net MM

100%

Peri

21%

Peri

79%

Shakey’s

+14

Net Ex-MM

Net New Stores

Year-to-Date

Expanding into Second-Tier Cities with Shakey’s; Meeting Unserved Peri Demand

• Pursuing UNDERPENETRATED

SECOND-TIER CITIES via Shakey’s franchisee-led expansion

• Ramping up Peri store expansion

beginning with UNSERVED METRO MANILA DEMAND

20

Peri

Upgrading Peri Brand and Stores; Strengthening Fundamentals After Successful Integration

• Crafted and launched Peri brand’s values of “ADVENTURE, ABUNDANCE, AND

VIBRANCE,” complementing Shakey’s “Fun, Family, Pizza” positioning

• Smooth transition allowed for an ACCELERATED EXPANSION PLAN – opening new

stores, upgrading store look, and enhancing quality of service and food

230 259 282

As of Dec 2018 As of June 2019 As of Dec 2019F

21

Aggressive Expansion Strategy Now Anchored on Two Complementary Brands

Store Network Count 228 233 248 2 3 3 230 236 251

As of Dec 2018 As of Jun 2019 As of Dec 2019F PH Stores Int'l Stores

+21 20

23 31

As of Jun 2019 As of Dec 2019F

+8

• ACCELERATED STORE OPENING of Peri for the balance of year
• Shakey’s expansion on-track to hit target of 248 STORES IN THE PHILIPPINES

TOTAL +52

22

9M19 Net Income Margin Bridge

Subdued Input Costs and Efficiency Programs Bear Fruit

9M 2018 Net Margin Gross Margin Growth Opex Growth Tax Growth 9M 2018 Revenues

9M 2018 Net Income Margin Gross Margin OpEx 9M 2019 Net Income Margin 9.7% 10.1% Interest, Taxes & Others

+0.4 pps

0.2pps 0.5pps 0.3pps

3Q19 Net Income Margin Bridge

Q3 2018 Net Margin Gross Margin Growth Opex Growth Tax Growth Q3 2019 Revenues

Q3 2018 Net Income Margin Gross Margin OpEx Q3 2019 Net Income Margin 7.7% 8.6% Interest, Taxes & Others

+0.9 pps

0.7pps 1.3pps 1.1pps

• FAVORABLE INPUT COSTS AND “FIT-FOR-GROWTH” INITIATIVES driving operating

efficiencies lead to higher margins across the board

• Profitability improvement partially offset by HIGHER INTEREST COST to finance Peri

acquisition

13.2%

12.7%

OpEx as % of Sales

2.5%

2.5%

Interest Expense as % of Sales

136

149

9M18 9M19

725

746

9M18 9M19

Operating Expense Interest Expense PH Farmgate Chicken Price Trend

Jan-18 Jun Jan-19 Current 23

In PHP Mill

+3%

Hedges on Subdued Cheese and Chicken Prices Support Margins; More Challenging Balance-of-Year

In PHP Mill

+10%

Source: Philippine Statistics Authority

• Locking in of FAVORABLE INPUT COSTS, alongside implementing efficiency gains,

support margins; slight increase in INTEREST EXPENSE due to Peri acquisition

• COST HEADWINDS coming into Q4, though seasonally stronger sales could temper

impact to profitability

15.5%

17.7%

3Q18 3Q19 24

27.8%

28.0%

9M18 9M19

EBITDA Margin Net Margin 25.8%

26.5%

3Q18 3Q19

Gross Margin

+20 bps +70 bps

18.3%

19.3%

9M18 9M19

+100 bps +220 bps

7.7%

8.6%

3Q18 3Q19

9.7%

10.1%

9M18 9M19

+40 bps +90 bps

Operating Margin 14.6%

15.3%

9M18 9M19

+70 bps

11.7%

13.6%

3Q18 3Q19

+190 bps

Industry-Leading Margins Improve Despite Absence of Price Increase

• INDUSTRY-LEADING PROFITABILITY an advantage in a highly competitive

environment

• Efficiency programs to support VALUE-FOR-MONEY INITIATIVES to drive traffic

growth

25

Estimated Impact of PFRS 16, to be Implemented in Audited FY19 Results

In PHP Mill 9M 2018 Pre-PFRS 16 9M 2019 Pre-PFRS 16 Total Revenue 5,490 5,897 Cost of Sales (3,966) (4,246) Gross Profit 1,524 1,651 Operating Expenses (725) (746) EBITDA 1,004 1,136 EBIT 799 905 Finance Cost (136) (149) Income before Tax 683 767 Net Income 535 594 Margins EBITDA 18.3% 19.3% Net Income 9.7% 10.1% 9M 2019 Post-PFRS 16 Variance vs. 9M 2019 Pre-PFRS 16 Growth vs. 9M 2018 Pre-PFRS 16 5,897 0% 7% (4,220)

• 1%

6% 1,677 2% 10% (747) 0% 3% 1,378 21% 37% 930 3% 16% (201) 35% 48% 740

• 3%

8% 575

• 3%

8% 23.4% +4.1 pps +5.1 pps 9.8%

• 0.3 pps

+0.1 pps

• Audited full-year results to be impacted by PFRS 16, ACCOUNTING STANDARD

FOR LEASES; negative PHP19 million estimated impact for 9M19

26

• Increased short-term debt due to the

PERI BRIDGE LOAN

• Long-term loan of PHP3.8 billion all

PESO-DENOMINATED WITH FIXED INTEREST RATES

• Decline in cash due to PERI

ACQUISITION

• Elevated PPE due to PERI ACQUISITION

AND CAPEX FOR ORGANIZATIONAL GROWTH

In PHP Mill 2018 9M 2019 Cash 434 303 Receivables 508 581 Other Current Assets 668 770 Total Current Assets 1,610 1,654 Property, Plant, and Equipment 1,712 2,081 Goodwill and Trademarks 6,066 6,628 Other Non-Current Assets 245 254 Total Non-Current Assets 8,023 8,963 TOTAL ASSETS 9,633 10,617 In PHP Mill 2018 9M 2019 Trade Payable and Others 920 817 Short-Term Debt 48 698 Total Current Liabilities 968 1,515 Long-Term Debt 3,837 3,812 Other Non-Current Liabilities 259 279 Total Non-Current Liabilities 4,096 4,091 TOTAL LIABILITIES 5,063 5,606 TOTAL EQUITY 4,570 5,011 TOTAL LIABILITIES AND EQUITY 9,633 10,617

Balance Sheet

• COMFORTABLE

GEARING RATIOS despite the rise in interest-bearing debt due to the bridge loan for the Peri acquisition

• MAINTAINED

ABOVE-INDUSTRY ROE at 19%

27

Net Debt-to-Equity (x) Net Gearing (x) Interest-Bearing Debt-to-EBITDA (x) Return on Equity 1.01

1.06

2018 9M 2019

0.76

0.84

2018 9M 2019

2.59

2.77

2018 9M 2019

20%

19%

2018 9M 2019

Ratios

Notes: Net Debt-to-Equity = (Total Liabilities – Cash) / Total Equity Net Gearing = (Interest-Bearing Liabilities – Cash) / Total Equity Interest-Bearing Debt-to-EBITDA uses trailing 12-month EBITDA Return on Equity uses trailing 12-month earnings and average equity

28

• OPERATING CASH FLOWS

SUFFICIENT for regular CapEx

• CapEx primarily for

ACQUISITION OF PERI STORES, IT INVESTMENTS, AND NEW SHAKEY’S OUTLETS

• Proceeds from loan used to

finance PERI ACQUISITION

• Increase in trademark

reflects PERI ACQUISITION

In PHP Mill 9M 2018 9M 2019 Income before Income Tax 683 767 Depreciation and Amortization 186 220 Interest Expense 136 149 Changes in Working Capital (351) (295) Others (160) (178) Net Operating Cash Flow 494 663 Capital Expenditures (341) (593) Acquisition of Trademark (562) Others (14) (2) Net Investing Cash Flow (355) (1,157) Proceeds from (Payment of) Loan (25) 626 Payment of Interest (101) (109) Net Financing Cash Flow (126) 364 Effect of Exchange Rate Changes 1 Beginning Cash 245 434 Change in Cash 14 (131) Ending Cash 259 303 Free Cash Flow 153 70

Cash Flow

29

• Higher receivables driven by FRANCHISEE-LED STORE

NETWORK EXPANSION

• Normalizing inventory with DEPLETION OF ADVANCED

PURCHASE OF CHEESE from end-2018

• Increase in cash

conversion cycle relative to end 2018 to +14 DAYS

597

600

40

39

• 10

20 30 40 50 60 70 80 90

• 200

400 600 800 1,000 1,200

FY18 9M19 Days ₱ Mns

920

817

62

52

• 10

20 30 40 50 60 70 80 90

• 200

400 600 800 1,000 1,200

FY18 9M19 Days ₱ Mns

508

581

24

27

• 10

20 30 40 50 60 70 80 90

• 200

400 600 800 1,000 1,200

FY18 9M19 Days ₱ Mns

185

364

2

14

• 10

20 30 40 50 60 70 80 90

• 200

400 600 800 1,000 1,200

FY18 9M19 Days ₱ Mns

Working Capital Receivables Inventory Payables

Cash Conversion Cycle

30

2019 Guidance and Outlook

Expecting Short-Term Headwinds and More Challenging Year End, But Double- Digit Earnings Growth Still Achievable

• SSSG to remain challenged
• Value-for-money initiatives

to drive traffic growth

• Shakey’s new store

expansion on track

• Accelerated growth plans

for Peri

• Cost headwinds amidst

rising chicken prices and higher cheese costs

• Continue efficiency and

cost control measures

• More challenging year end

but double-digit (recurring) growth still achievable

STOCK & INVESTOR RELATIONS HIGHLIGHTS

32

MARKET CAPITALIZATION

$0.3B

December 2016

$0.3B

November 2019

PERFORMANCE SINCE IPO

₱11.26

IPO Price

• 2%

27 November 2019

PIZZA

Philippine Consumer Average PER

18.3x

26.1x EV / EBITDA

8.7x

11.2x ROE

18.7%

13.9% Operating Margin*

15.9%

10.0% Net Income Margin*

11.1%

6.7%

Source: BPI Securities 2019 Estimates as of 27 November 2019 *Bloomberg, trailing 12 months

STOCK PRICE PERFORMANCE

(BLOOMBERG TICKER: PIZZA PM)

6.00 10.00 14.00 18.00 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 PHP/SHARE

PHP11.00

as of 27 November 2019

Stock Highlights

SHAREHOLDERS

Source: Bloomberg, November 2019

Foreign Ownership Limit: 100% Free Float Level: 29%

GIC Private Equity 18% Prieto Family 4% Norges Bank 2% Matthews International Capital Management 1% Others 22% Century Pacific Group,

• Inc. (CPGI) 53%
• wholly owned by

the Philippines’ Po family

• majority

shareholder of CNPF PM and ALCO PM

33

Stock Highlights

*Of previous year’s recurring net income

0.10 0.10

0.10

23% 20%

18%

0% 10% 20% 30% 0.00 0.10 0.20 0.30 2017 2018 2019 Regular Cash Payout Ratio*

Declaration Date Record Date Payment Date

2017 May 8 June 6 June 30 2018 August 16 September 14 October 10 2019 June 20 July 19 August 14

Philippines’ Best Small Cap Company Finance Asia 2018

DIVIDEND HISTORY

34

*Listing Date: 15 December 2016 **As of 27 November 2019

Investor Relations Highlights

Current Price PHP11.00 Range since Listing Date* PHP9.80 - 17.48

• No. of Outstanding Shares

1,531,321,053 Shareholding Structure CPGI: 53.0% Arran (GIC): 18.5% Free Float 28.5% (includes Prieto family’s 3.8%) 3-Month Average Turnover PHP4.0 million USD0.08 million Market Capitalization PHP16.8 billion USD0.3 billion YTD Absolute Performance

• 7.6%

YTD Relative to Index

• 12.5%

YTD Relative to Sector

• 6.5%

3-Month Absolute Performance

• 10.6%

3-Month Relative to Index

• 11.7%

3-Month Relative to Sector

• 1.0%

SELL-SIDE ACTIVE COVERAGE***

Institution Analyst Latest Call BDO Nomura Diane Go BUY BPI Jefferies Javier Consunji BUY CLSA Joyce Ramos BUY COL Financial John Luciano BUY Credit Suisse Hazel Tanedo OUTPERFORM Daiwa Renzo Candano BUY Macquarie Karisa Magpayo OUTPERFORM Regis Carissa Mangubat BUY Unicapital Sec Wendy Estacio HOLD

***At least one research report published in the past 12 months as of 17 December 2019

35

Investor Conferences 2018 Glossy Annual Report

J.P. Morgan Philippine Conference 4 February 2020, Manila

*Schedule updated as of 27 November 2019

Credit Suisse ASEAN Conference 10 January 2020, Singapore Citi Pan Asia Regional Conference 20 May 2020, Singapore

Investor Relations Highlights

PIZZA’s 2018 Glossy Annual Report can be found on the Company’s corporate website.

Investors > Investor Presentations https://tinyurl.com/PIZZA-Annual-Report-2018

SUSTAINABILITY HIGLIGHTS

37

First GRI-Compliant Sustainability Report

Sustainability Framework

PLANET

• Talent acquisition

& management

• Workplace culture

& environment

• External guest

engagement

• Impact to

communities

• Natural resource

efficiency

• Packaging & waste
• Food safety &

quality

• Responsible

sourcing

• Long-term financial goals now coupled with

ENTERPRISE-WIDE INITIATIVE TO MONITOR AND MEASURE ENVIRONMENTAL, SOCIAL, AND GOVERNANCE METRICS Available for download here:

https://tinyurl.com/PIZZA-Annual-Report-2018

PEOPLE PIZZA

38

First GRI-Compliant Sustainability Report

2018 Sustainability Highlights

PEOPLE PLANET PIZZA

9,149

jobs supported

43.6

average training hours per employee

1:1

ratio between male and female employees

8.3/10

satisfaction

• f store

employees

4%

reduction in electricity intensity

1%

reduction in water intensity

74%

• f total spending is
• n local suppliers

100%

RSPO-certified palm oil Supplier accreditation process in place

SHAKEY’S PIZZA ASIA VENTURES, INC.

This document is highly confidential and being given solely for your information and for your use and may not be, or any portion thereof, shared, copied, reproduced or redistributed to any other person in any manner. The statements contained in this document speak only as of the date which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances

• n which any such statements are based. By preparing this presentation, none of the Company, its

management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or to correct any inaccuracies in any such information which may become apparent. This presentation contains statements, including forward-looking statements, based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements in particular involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking

• statements. Given these risks, uncertainties and other factors, recipients of this

document are cautioned not to place undue reliance on these forward-looking statements. Any reference herein to "the Company" shall mean, collectively, Shakey’s Pizza Asia Ventures, Inc. and its subsidiaries. Paranaque City, Philippines investorrelations@shakeys.biz +632 8742 5397 www.shakeyspizza.ph http://edge.pse.com.ph