1Q 2017 Analysts’ Briefing10 May 2017 | The Globe Tower BGC

1Q17 Performance Highlights: Record revenues and EBITDA offset by higherdepreciation and interest, and share of charges from SMC deal

• Increase in revenues pared by higher operating expenses• EBITDA margin of 43%, slightly lower than 1Q16’s 44%

• Decline caused by higher depreciation and interest, and Globe’s share ofcharges from SMC deal

• Excluding SMC-related charges, normalized NIAT would be P4.2 Billion, orlower by 4% YoY

• Core Net Income at Php3.7Bn, lower by 12% YoY

• Momentum continues, driven by data-related services which now generate53% of total service revenues

• Beginning 2017, revenues from premium content services (where Globe isacting as principal to the contract) will be reported gross of the licensors'fees.

Service Revenues

31.1YoY

+4%

EBITDA

13.3 +2%

Net Income After Tax

-13%3.8Cash Dividend

• Record Date: 23 May 2017• Payment Date: 07 June 2017

222 .75/sh

3%

Revenue growth remains broad-based as market continues shift towards data

Mobile 1 Home Broadband 1

Fixed Line Voice

Corporate Data

Total

Δ1Q16 +3% +9% +7% -2% +4%

3• Beginning 1Q17, Globe to report prepaid subscribers which exclude

those who do not reload within 90 days of the second expiryperiod versus the previous cut-off of 120 days.

• Increase in subscriber base due to strong grossacquisitions for fixed wireless service (LTE)

+8%+2%57.3million

58.6million

Mobile Subscribers Home Broadband Subscribers

1Q16 1Q17

1.1million

1Q16 1Q17

1.19million

Postpaid Prepaid TM Wireless Wired

1 Beginning 2017, revenues from premium content services (where Globe is acting as principal to the contract) will be reportedgross of the licensors' fees. Revenues for similar services reported in 2016 have also been restated for purposes of comparison.

Petabytes

50%

Data-related businesses now account for 53% of total service revenues

Home Broadband1

In Php Billions

Corporate DataIn Php Billions

Mobile Data1

In Php Billions

Total Data Revenues as a Percentage of Total Service Revenues1

53%

1Q16 1Q17+35% 131

Petabytes

+85%

Mobile Data Users as a % of Mobile Subscribers

Mobile Data Traffic1Q171Q16

54%1Q171Q16 +35%+8

ppts

Total Revenues Data Revenues

10.0

1 Beginning 2017, revenues from premium content services (where Globe is acting as principal to the contract) will be reportedgross of the licensors' fees. Revenues for similar services reported in 2016 have also been restated for purposes of comparison.

3.8 2.5+8% +9% +7%

4

71

46%

Deployment of new LTE sites and Home Broadband service in Metro Manilaand key cities nationwide continue to face headwinds from permitting issues

LTE 700 and LTE 2600 Sites

• For 1Q17, Globe has deployed a total of 445 new LTE sites for increasedcapacity and coverage.

• With build preparations undertaken in 1Q17, deployment will ramp upprogressively in succeeding quarters, targeting sites with high demand.

• Per Opensignal’s latest report on Philippine operators, Globe registered thehighest LTE service availability.

• Globe recently deployed new massive MIMO technology which utilizes LTEspectrum to accommodate more users at higher data rates with betterreliability.

• For 1Q17, completed 24,000 lines with remainder to be deployed progressively

Home Broadband Service

5

New products, partnerships and events that enrich the Filipino digital lifestyle.

6

Globe Digital Ventures and Ayala Sureseats.com Partnership

Globe and Disney’s Disney Princess: I Dare to Dream Digital Reality Contest

Palau and Micronesia interconnect with Globe for SEA-

US Cable System

Enjoy WiFi on your own terms with Globe Prepaid Home WiFi

Globe and Singtel launch Trustwave Managed Security Services

Create the life you want with Globe’s ThePLAN

Financial Highlights

(in Php Mn)

3M17

Reported

3M16

Reported YoY %

VTI Impact

(3M17)

3M17

Normalized YoY%

Gross Service Revenues 31,122 30,004 4% 31,122 4%

OPEX & Subsidy* (17,807) (16,937) 5% (17,807) 5%

EBITDA 13,315 13,067 2% 13,315 2%

EBITDA Margin 43% 44% 43%

Depreciation (6,437) (6,215) 4% (6,437) 4%

EBIT 6,878 6,852 0% 6,878 -

Non-Operating Charges (1,320) (577) 129% (483) (837) 45%

Provision for Income Tax (1,798) (1,940) -7% 77 (1,874) -3%

Net Income 3,760 4,335 -13% (407) 4,167 -4%

Core Net Income** 3,680 4,185 -12% (407) 4,087 -2%

* OPEX & Subsidy includes interconnect charges** Core Net Income excludes forex, mark-to-market gains and losses, and non-recurring items

Consolidated Financial Highlights: Revenue growth at 4% though higheroperating expenses, depreciation, and non-operating charges contributed to adecline in NIAT

8

Note: Beginning 2017, revenues from premium content services (where Globe is acting as principalto the contract) will be reported gross of the licensors' fees. Revenues for similar servicesreported in 2016 have also been restated for purposes of comparison. Licensors' fees will bereflected as part of maintenance expense.

13,067 13,315

1,118 220

-

244

--

-

428 659

247

3M16 EBITDA Inc. in

Revenues

Dec. in

Interconnect

Charges

Inc. in Staff

Costs

Dec. in

Marketing &

Subsidy

Inc. in Network

Costs

Inc. in

Provisions,

Services &

Other OPEX

3M17 EBITDA

+2%

YoY Change in EBITDAIn Php Millions

9

EBITDA growth driven by the Php 1.1 Billion increase in revenues but wastempered by increased staff and network costs, particularly repairs andmaintenance charges

4,335 4,361 3,760 3,760 4,167

248

142

407 222 743

3M16 Reported

Net Income

Change in

EBITDA

Inc in

Depreciation

Inc in Non-

operating

Expenses

Dec in Tax 3M17 Reported

Net Income

SMC Impact 3M17

Normalized

Net Income

Modest 2% growth in EBITDA outpaced by increased depreciation and non-operatingcharges, leading to 13% decrease in net income. Non-operating charges include the impact ofthe SMC deal. Normalized net income would have only declined by 4%

YoY Change in Reported Net IncomeIn Php Millions

10

-13%

-4%

21.2

32.1

36.7

8.6

2014 2015 2016 3M17

* Based on FX rate of Php49.38

Capital expenditures at approximately Php8.6 billion or USD175 million*, with81% related to data requirements

Capex* In Php Billions

11

15% 15% 15% 11% 8%

15% 10% 8% 10% 10%

36%27% 30%

14%1%

35%49% 48%

65%81%

2013 2014 2015 2016 3M17

Business Support Others Core Data

Capex Breakdown

37.0

1.512.15 2.19

2015 2016 3M17

Despite the SMC transaction, debt levels remain comfortably within covenantratios.

Gross Debt In Php Millions

Gross D/E RatioCovenant = 2.5:1

Gross Debt/EBITDACovenant = 3:1

12

Cash Dividend per Common Share:

Php22.75

Record Date: 23 May 2017

Payment Date: 07 June 2017

2Q17 Dividends

72,229

105,729 108,100

2015 2016 3M17

1.221.67 1.68

2015 2016 3M17

C R E A T E . W O N D E R F U L .

Appendices

Appendix 1Historical Consolidated Gross / Net Service Revenues and EBITDA Margin

(In Million Pesos) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

Mobile 21,635 22,826 23,052 23,730 23,148 22,779 22,577 23,753 23,799

Mobile Voice 9,191 9,556 9,315 9,065 8,181 8,471 8,752 8,662 7,901

Mobile SMS 6,807 6,757 6,641 6,192 5,763 5,577 5,704 6,155 5,930

Mobile Data 5,636 6,513 7,096 8,472 9,203 8,731 8,121 8,936 9,969

Fixed Line & Broadband 4,585 4,784 6,475 6,593 6,856 7,089 7,079 7,308 7,322

Home Broadband 2,300 2,419 3,127 3,474 3,534 3,615 3,738 3,793 3,844

Corporate Data 1,543 1,603 2,349 2,204 2,367 2,496 2,443 2,567 2,540

Fixed Line Voice 742 762 999 916 955 978 898 949 938

Total 26,220 27,610 29,527 30,323 30,004 29,868 29,656 31,061 31,122

EBITDA 11,043 11,672 12,073 11,174 13,067 12,531 11,912 12,468 13,315

EBITDA Margin 42% 42% 41% 37% 44% 42% 40% 40% 43%

(In Million Pesos) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

Net Service Revenues 24,162 25,438 27,565 28,084 27,689 27,537 27,423 28,933 29,065

Interconnection Settlement

Costs2,057 2,173 1,962 2,238 2,316 2,330 2,233 2,129 2,057

2015 2016

2014 2015 2016

2017

CONSOLIDATED SERVICE REVENUES

15

Appendix 2Mobile Subscribers, Net Adds, Churn Rates and Gross ARPUs

Subscribers 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

Globe Postpaid 2,458,045 2,517,215 2,561,290 2,597,027 2,564,148 2,521,218 2,508,800 2,489,719 2,467,069

Globe Prepaid 22,214,373 23,287,012 24,391,990 25,915,096 25,452,193 27,381,884 29,409,827 28,433,793 26,678,674

TM 23,745,018 25,195,520 26,130,002 27,670,555 29,249,341 31,408,346 33,444,153 31,875,346 29,434,517

Total 48,417,436 50,999,747 53,083,282 56,182,678 57,265,682 61,311,448 65,362,780 62,798,858 58,580,260

Net Adds 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Globe Postpaid 9,361 59,170 44,075 35,737 (32,879) (42,930) (12,418) (19,081) (22,650)

Globe Prepaid 1,071,443 1,072,639 1,104,978 1,523,106 (462,903) 1,929,691 2,027,943 (976,034) (1,755,119)

TM 1,248,151 1,450,502 934,482 1,540,553 1,578,786 2,159,005 2,035,807 (1,568,807) (2,440,829)

Total 2,328,955 2,582,311 2,083,535 3,099,396 1,083,004 4,045,766 4,051,332 (2,563,922) (4,218,598)

Churn Rate 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Globe Postpaid 3.5% 2.9% 3.3% 3.2% 3.7% 3.7% 3.1% 2.8% 2.8%

Globe Prepaid 5.9% 6.2% 6.1% 5.2% 7.7% 5.7% 5.3% 8.2% 10.0%

TM 6.7% 6.6% 6.8% 6.1% 6.1% 6.0% 5.2% 8.8% 10.5%

Blended 6.1% 6.2% 6.3% 5.5% 6.7% 5.8% 5.2% 8.3% 9.9%

Gross ARPU 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Globe Postpaid 1,116 1,130 1,088 1,122 1,105 1,123 1,143 1,168 1,158

Globe Prepaid 128 130 124 117 116 109 99 104 111

TM 74 76 73 70 65 61 57 60 64

Blended 153 154 146 141 136 128 119 123 130

HOME BROADBAND 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Revenues 2,300 2,420 3,126 3,474 3,534 3,615 3,738 3,793 3,844

Subscribers 779,590 826,001 1,026,466 1,068,920 1,101,189 1,136,608 1,147,951 1,130,750 1,191,261

Gross Adds 100,387 111,152 139,094 137,417 144,543 158,130 159,041 144,515 157,401

Churn Rate 2.7% 2.7% 3.6% 3.5% 3.4% 3.6% 4.2% 4.7% 2.9%

2017

2015

2015

2015

2015

2015

2016

2016

2016

2016

2016

16

Appendix 3Reconciliation of Net Income to Core Net Income

(in Million Pesos) 1Q17 1Q16 % Change 4Q16 % Change

Reported Net Income After Tax 3,760 4,335 -13% 4,174 -10%

Deferred Tax on Unexercised

Stock Options(44) (28) 59% 47 -195%

Add (deduct) Forex loss (gain) (64) (174) -63% 9 -805%

Other Adjustments –

(including acc. depreciation)28 52 -46% 36 -22%

Core Net Income 3,680 4,185 -12% 4,266 -14%

17