1Q 2017 Analysts Briefing 10 May 2017 The Globe Tower BGC

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3 1Q 2017 Analysts Briefing 10 May 2017 The Globe Tower BGC

4 1Q17 Performance Highlights: Record revenues and EBITDA offset by higher depreciation and interest, and share of charges from SMC deal Service Revenues 31.1 YoY +4% Momentum continues, driven by data-related services which now generate 53% of total service revenues Beginning 2017, revenues from premium content services (where Globe is acting as principal to the contract) will be reported gross of the licensors' fees. EBITDA % Increase in revenues pared by higher operating expenses EBITDA margin of 43%, slightly lower than 1Q16 s 44% Net Income After Tax % Decline caused by higher depreciation and interest, and Globe s share of charges from SMC deal Excluding SMC-related charges, normalized NIAT would be P4.2 Billion, or lower by 4% YoY Core Net Income at Php3.7Bn, lower by 12% YoY Cash Dividend /sh 3% Record Date: 23 May 2017 Payment Date: 07 June

5 Revenue growth remains broad-based as market continues shift towards data Mobile 1 Home Broadband 1 Corporate Data Fixed Line Voice Total Δ1Q16 +3% +9% +7% -2% +4% 1 Beginning 2017, revenues from premium content services (where Globe is acting as principal to the contract) will be reported gross of the licensors' fees. Revenues for similar services reported in 2016 have also been restated for purposes of comparison. Mobile Subscribers Home Broadband Subscribers 57.3 million +2% 58.6 million 1.1 million +8% 1.19 million 1Q16 1Q17 Beginning 1Q17, Globe to report prepaid subscribers which exclude those who do not reload within 90 days of the second expiry period versus the previous cut-off of 120 days. 1Q16 Postpaid Prepaid TM Wireless Wired 1Q17 Increase in subscriber base due to strong gross acquisitions for fixed wireless service (LTE) 3

6 Data-related businesses now account for 53% of total service revenues Mobile Data 1 In Php Billions 10.0 Home Broadband 1 In Php Billions Corporate Data In Php Billions % +9% +7% Total Data Revenues as a Percentage of Total Service Revenues 1 50% 1Q16 Total Revenues 53% 1Q17 Data Revenues Mobile Data Users as a % of Mobile Subscribers 1Q16 +35% +8 46% 1Q16 71 Petabytes ppts Mobile Data Traffic 1 Beginning 2017, revenues from premium content services (where Globe is acting as principal to the contract) will be reported gross of the licensors' fees. Revenues for similar services reported in 2016 have also been restated for purposes of comparison. 1Q17 54% 1Q17 +35% % Petabytes 4

7 Deployment of new LTE sites and Home Broadband service in Metro Manila and 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 increased capacity and coverage. With build preparations undertaken in 1Q17, deployment will ramp up progressively in succeeding quarters, targeting sites with high demand. Per Opensignal s latest report on Philippine operators, Globe registered the highest LTE service availability. Globe recently deployed new massive MIMO technology which utilizes LTE spectrum to accommodate more users at higher data rates with better reliability. Home Broadband Service For 1Q17, completed 24,000 lines with remainder to be deployed progressively 5

8 New products, partnerships and events that enrich the Filipino digital lifestyle. 6

9 Financial Highlights

10 Consolidated Financial Highlights: Revenue growth at 4% though higher operating expenses, depreciation, and non-operating charges contributed to a decline in NIAT (in Php Mn) 3M17 Reported 3M16 Reported YoY % VTI Impact (3M17) 3M17 Normalized 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 YoY% Note: Beginning 2017, revenues from premium content services (where Globe is acting as principal to the contract) will be reported gross of the licensors' fees. Revenues for similar services reported in 2016 have also been restated for purposes of comparison. Licensors' fees will be reflected as part of maintenance expense. 8

11 EBITDA growth driven by the Php 1.1 Billion increase in revenues but was tempered by increased staff and network costs, particularly repairs and maintenance charges YoY Change in EBITDA In Php Millions 1, % ,067 13,315 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 9

12 Modest 2% growth in EBITDA outpaced by increased depreciation and non-operating charges, leading to 13% decrease in net income. Non-operating charges include the impact of the SMC deal. Normalized net income would have only declined by 4% YoY Change in Reported Net Income In Php Millions -4% ,335 4,361-13% 3,760 3,760 4,167 3M16 Reported Net Income Change in EBITDA Inc in Depreciation Inc in Nonoperating Expenses Dec in Tax 3M17 Reported Net Income SMC Impact 3M17 Normalized Net Income 10

13 Capital expenditures at approximately Php8.6 billion or USD175 million*, with 81% related to data requirements 21.2 Capex* In Php Billions M17 * Based on FX rate of Php Capex Breakdown 35% 49% 48% 65% 81% 36% 27% 30% 14% 15% 10% 8% 10% 1% 10% 15% 15% 15% 11% 8% M17 Business Support Others Core Data

14 Despite the SMC transaction, debt levels remain comfortably within covenant ratios. Gross Debt In Php Millions Gross D/E Ratio Covenant = 2.5:1 72, , , M17 Gross Debt/EBITDA Covenant = 3: M17 2Q17 Dividends Cash Dividend per Common Share: Php Record Date: 23 May 2017 Payment Date: 07 June M17 12

15 Appendices

16 Appendix 1 Historical Consolidated Gross / Net Service Revenues and EBITDA Margin (In Million Pesos) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q CONSOLIDATED SERVICE REVENUES 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 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 Costs 2,057 2,173 1,962 2,238 2,316 2,330 2,233 2,129 2,057 14

17 Appendix 2 Restated Mobile 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, 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, ,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 Q 4Q 1Q Q 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 Q 4Q 1Q Q 3Q 4Q Globe Postpaid 1,116 1,130 1,088 1,122 1,099 1,120 1,142 1,169 0 Globe Prepaid TM Blended 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, ,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, , , , , , , , ,401 Churn Rate 2.7% 2.7% 3.6% 3.5% 3.4% 3.6% 4.2% 4.7% 2.9% 15

18 Appendix 3 Reconciliation 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% % Add (deduct) Forex loss (gain) (64) (174) -63% 9-805% Other Adjustments (including acc. depreciation) % 36-22% Core Net Income 3,680 4,185-12% 4,266-14% 16

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