1Q/3M 2019 Analysts’ Briefing6 May 2019 | The Globe Tower

36.0Php Bn

+13%

YoY

22.75Php/share

19.9Php Bn

6.7Php Bn

+44%

YoY

SERVICE REVENUES EBITDA

+24%

YoY

NET INCOME 2Q19

DIVIDEND

RECORD 1Q19 PERFORMANCE

RECORD DATE:

May 20, 2019

PAYMENT DATE:

May 31, 2019

EBITDA at all-

time high

EBITDA Margin

at 55%

Record NIAT up

44% on EBITDA

gains

Core NIAT up 40%

Record level

performance

driven by data-

related services

2

MOBILE

VOICE

-15%

+11%

YoY

+17%

YoY

MOBILE

REVENUES

FIXED LINE AND

HOME BROADBAND

REVENUES

MOBILE

SMS

-22%

MOBILE

DATA

+44%

FIXED LINE

VOICE

HOME

BROADBAND

CORPORATE

DATA

-8%

MOBILE SUBSCRIBERS HOME BROADBAND SUBSCRIBERS

1.41.6 1.7

1Q18 4Q18 1Q19

Fixed

Wireless

Wired

In Millions In Millions

+21% +16%

FURTHER SHIFT TOWARDS DATA-RELATED SERVICES

+6%

+22%74.1

83.5

0.0

20.0

40.0

60.0

80.0

100.0

4Q18 1Q19

Postpaid

TM

GP

+13%

3

In PB

MOBILE

DATA

HOME

BROADBAND

CORPORATE

DATA

46%

14%

9%

180

315370

1Q18 4Q18 1Q19

SERVICE

REVENUES

34.8

36.9 37.1

1Q18 4Q18 1Q19

DATA ACCOUNTS FOR 69% OF TOTAL REVENUES

MOBILE DATA TRAFFIC MOBILE DATA USERS

4

+1%

+105%In Millions

1.8

3.03.5

1Q18 4Q18 1Q19

MOBILE DATA MONTHLY ATPU

+15%

In GB

+91%

+7%

+17%

HOME BROADBAND 5G PILOT TO LAUNCH IN

2ND QUARTER 2019

MYNT IS MAKING WAVES IN FINANCIAL INCLUSION

#1 MOBILE APP WALLET

IN THE PHILIPPINES* #5 MOBILE APP WALLET

IN ASEAN*

+20M REGISTERED GCASH

USERS

Full financial services offering with credit, savings,

investments and insurance now available.

64KGCASH QR

MERCHANTS

*Sourced from App Annie

KICKSTART TO MANAGE AC GROUP’S NEW

VENTURE CAPITAL FUND

GENERAL PARTNER

LIMITED PARTNERS

AC Ventures

AC Ventures

*Targeting up to

$200M investments

Globe partners with TikTok

short video platform service

Globe unveils first

Esports Center

Avengers: Endgame movie

passes for mobile and home

broadband subscribers

NEW PRODUCTS, SERVICES, AND PROMOTIONS

GoWiFI expands coverage

to over 2,000 sites

nationwide

8

FINANCIAL HIGHLIGHTS

1Q191Q18

(Restated)3 YoY%

4Q18

(Restated)3 QoQ%

Gross Service Revenues 36,003 31,942 13% 34,932 3%

OPEX and Subsidy1 (16,084) (15,863) 1% (19,099) -16%

EBITDA 19,919 16,080 24% 15,832 26%

EBITDA Margin 55% 50% 45%

Depreciation (7,996) (7,285) 10% (8,107) -1%

EBIT 11,923 8,794 36% 7,725 54%

Non-Op Charges (2,127) (1,752) 21% (1,856) 15%

Provision for Tax (3,066) (2,362) 30% (2,036) 51%

Net Income 6,730 4,680 44% 3,833 76%

Core Net Income2 6,732 4,796 40% 3,813 77%

1/ OPEX & Subsidy includes interconnect charges

2/ Core Net Income excludes forex, mark-to-market gains and losses, and non-recurring items

3/ 2018 figures have been restated to reflect a normalized quarterly break following the adoption of PFRS 15 and 9

1Q19 PERFORMANCE:

EBITDA UP 24% YoY, NET INCOME UP 44% YoY

Impact of PFRS 16:

• One-time adjustment to retained earnings of Php336 million

• Php267 million upside to EBITDA for 1Q19 (~Php1.2 to 1.5 billion for FY2019)

• ~Php30 million reduction to NIAT per quarter (~Php120 million for FY 2019)

10

15,832 19,919

1,071 861 741 974 517 77

4Q18 EBITDA Inc. in

Revenues

Inc. in

Interconnect

Charges

Dec. in Staff

Costs

Dec. in

Marketing &

Subsidy

Dec. in

Network Costs

Dec. in

Provisions,

Services &

Other OPEX

1Q19 EBITDA

YoY(in Php Mn)

QoQ(in Php Mn) +26%

16,080 19,919

4,061 993 48 191 476 596

3M18 EBITDA Inc. in

Revenues

Dec. in

Interconnect

Charges

Inc. in Staff

Costs

Inc. in

Marketing &

Subsidy

Dec. in Network

Costs

Inc. in

Provisions,

Services &

Other OPEX

3M19 EBITDA

+24%

EBITDA GROWTH DRIVEN BY HIGHER REVENUE AND LOWER

INTERCONNECT COSTS

11

NET INCOME GREATLY BENEFITTED FROM EBITDA UPSIDE

YoY(in Php Mn)

QoQ(in Php Mn) +76%

4,680 6,730

3,839 711 374 704

3M18 Reported

Net Income

Change in EBITDA Inc. in Depreciation Inc. in Non-

operating expenses

Inc. in Tax 3M19 Reported Net

Income

+44%

12

3,833 6,730

4,087 111 271 1,030

4Q18 Net Income Change in EBITDA Dec. in Depreciation Inc. in Non-

operating expenses

Inc. in Tax 1Q19 Reported Net

Income

2015 2016 2017 2018 3M19

Data Business Support Core Others

CAPEX BREAKDOWNIn Php Bn

10%

14%

11%

65%

36.79%

2%7%

82%

42.5 43.3

9%1%

13%

77%8%

30%

15%

48%

32.1

3M19 CAPEX SPEND AT PHP 8.8 BILLION WITH 68% RELATED TO

DATA REQUIREMENTS

8.8

13

Core, 1%

Data,

68%

Business

Support,

20%

Others,

11%

GEARING: DEBT LEVEL WITHIN COVENANT RATIOS

22.75Php/share

2Q19 CASH DIVIDEND* RECORD DATE:

May 20, 2019

14

PAYMENT DATE:

May 31, 2019

2019 GUIDANCE

15

SERVICE

REVENUES

EBITDA

MARGIN LOW 50s

HIGH SINGLE DIGIT

GROWTH

CAPEX~PHP 63

BILLION