1Q18 Analysts Briefing 7 May 2018 The Globe Tower BGC

1Q18 Analysts Briefing 7 May 2018 The Globe Tower BGC

1Q18 Performance: Record results on strong demand for data and larger subscriber base Pre-PFRS Service Revenues YoY 33.6 +8% Momentum continues with data-related services representing 58% of total service revenues Post-PFRS Service Revenues 33.2 EBITDA 15.8 +18% Net Income After Tax 4.5 Cash Dividend 22.75 /sh +18% Increase in EBITDA due to higher revenues and keeping costs in check EBITDA margin of 47% Increase in EBITDA offset higher depreciation and nonoperating charges Record Date: May 21, 2018 Payment Date: June 1, 2018 EBITDA 16.1 Net Income After Tax 4.7 2

Broad-based revenue growth as market continues shift towards data Mobile* Home Broadband* Corporate Data* Fixed Line Voice* Total* Δ1Q17 +9% +11% +4% -18% +8% Mobile Subscribers Home Broadband Subscribers 58.6 million +8% 63.3 million 1.19 million +17% 1.40 million 1Q17 1Q18 1Q17 Postpaid Prepaid TM Wireless Wired 1Q18 * Pre-PFRS Robust prepaid gross acquisitions drive increase in subscriber base New product offers drive strong gross acquisitions for fixed wireless service 3

Data-related businesses now account for 58% of total service revenues Mobile Data* In Php Billions Home Broadband* In Php Billions Corporate Data* In Php Billions 12.6 4.3 2.6 +26% +11% +4% Total Data Revenues as a Percentage of Total Service Revenues* * Pre-PFRS 53% 58% Mobile Data Users as a % of Mobile Subscribers 1Q17 1Q18 131 +35% 180 +37% Non-Data Revenues Data Revenues 1Q17 +35% +1 54% 1Q17 Petabytes ppt Mobile Data Traffic 1Q18 55% 1Q18 Petabytes 4

New products, partnerships and devices geared for the Filipino digital lifestyle Globe Gaming launched in partnership with Mineski, Riot Games, and Garena for esports GCash and Alipay jointly launch new GCash QR Code Discover new journeys with the Samsung Galaxy S9 and S9+ powered by ThePLAN Rollout of GCash in more fast food and casual dining outlets, major retailers and gas stations in full swing Chow King Jollibee Shakeys Max s Group Primer Group Robinson s Retail Shell 5

A look back at our Consolidated Outlook for 2018 Original Revenues Up by low single digit from 2017 level upgrade to Revised Revenues Up by mid single digit from 2017 level EBITDA Margin EBITDA Margin Maintained at ~40% upgrade to Increase to ~mid 40% All other original guidance items pertaining to capex, gearing and cost considerations remain 6

Financial Highlights

Consolidated Financial Highlights: Revenue growth of 8%, combined with lower subsidies, depreciation, and non-operating charges led to an 18% increase in NIAT 3M18 (Pre-PFRS) 3M17 YoY% 4Q17 QoQ% 3M18 (Post-PFRS) Gross Service Revenues 33,638 31,122 8% 32,767 3% 33,178 OPEX and Subsidy (17,878) (17,806) 0% (20,065) -11% (17,097) EBITDA 15,760 13,316 18% 12,702 24% 16,081 EBITDA Margin 47% 43% 39% 48% Depreciation (7,285) (6,437) 13% (7,396) -2% (7,285) EBIT 8,475 6,879 23% 5,306 60% 8,796 Non-Op Charges (1,753) (1,320) 33% (2,027) -14% (1,753) Provision for Tax (2,266) (1,798) 26% (1,175) 93% (2,362) Net Income 4,456 3,761 18% 2,104 112% 4,681 Core Net Income 4,572 3,681 24% 2,339 95% 4,797 * OPEX & Subsidy includes interconnect charges ** Core Net Income excludes forex, mark-to-market gains and losses, and non-recurring items 8

Changes in Accounting Rules for 2018 Item PFRS 9 PFRS 15 Effect Explanation Service Revenues Decrease in overall service revenues Mobile Decrease in service revenues due to re-allocation as nonservice revenues Mobile ARPUs will decrease in line with service revenues Broadband / Corporate Data Non-Service Revenues Cost of Sales / Operating Expenses EBITDA / EBITDA Margin Effect on service and non-service revenues will be relatively immaterial compared to mobile Increase in non-service revenues as the allocation to equipment will be based on standalone selling price Sale of equipment is recognized upfront Decrease as subscriber acquisition costs are amortized over contract period instead of up-front Increase as subscriber recontracting costs are now included as part of cost of sales instead of operating expenses. Increase due to higher provision for bad debts Increase as subscriber acquisition costs are amortized over contract period instead of up-front Decrease due to higher provisions for bad debts 9

EBITDA growth of 18% driven by the increase in revenues and decreases in interconnect, staffing, and subsidies, partly negated by increased network costs and provisions, services and other opex 2,516 257 136 402 567 300 YoY Pre-PFRS (in Php Mn) 13,316 15,760 3M17 EBITDA Inc. in Revenues Dec. in Interconnect Charges Dec. in Staff Costs +18% Dec. in Marketing & Subsidy Inc. in Network Costs Inc. in Provisions, Services & Other OPEX 3M18 EBITDA QoQ Pre-PFRS (in Php Mn) 871 89 1,226 384 505 17 12,702 15,760 4Q17 EBITDA Inc. in Revenues Dec. in Interconnect Charges Inc. in Staff Costs +24% Dec. in Marketing & Subsidy Dec. in Network Costs Dec. in Provisions, Services & Other OPEX 1Q18 EBITDA 10

Gain in EBITDA tempered by higher depreciation, non-operating charges and taxes, resulting in 18% increase in net income. 2,444 848 433 468 3,761 4,456 YoY Pre-PFRS (in Php Mn) 3M17 Reported Net Income Change in EBITDA Inc. in Depreciation +18% Inc. in Nonoperating expenses Inc. in Tax 3M18 Reported Net Income 3,058 111 274 1,091 4,456 QoQ Pre-PFRS (in Php Mn) 2,104 4Q17 Net Income Change in EBITDA Dec. in Depreciation +112% Dec. in Nonoperating expenses Inc. in Tax 1Q18 Reported Net Income 11

Capital expenditures at approximately Php6.6 billion or USD127 million*, with 64% related to data requirements CAPEX BREAKDOWN In Php Bn 32.1 8% 30% 15% 48% 36.7 10% 14% 11% 65% 42.5 9% 2% 7% 82% 6.6 64% 20% 14% 2% 1Q18 Rollout Update +508 LTE SITES +59K HOME BROADBAND SUBSCRIBER LINES* 2015 2016 2017 2018 * Composed of wired and wireless Data Business Support Core Others * Based on FX rate of Php51.887 12

Debt levels remain within covenant ratios The financial tests under Globe s loan agreements include compliance with the following ratios: Total Debt-to-Equity not exceeding 2.5:1 Total Debt-to-EBITDA not exceeding 3:1 Debt Service Coverage exceeding 1.3x YTD March 2018* YTD Dec 2017 Gross debt (in Php Bn) 127.9 131.5 Gross Debt-to-Equity 1.96x 1.98x Gross Debt-to-EBITDA 2.25x 2.43x Debt Service Coverage Ratio 3.09x 3.38x Cash Dividends Rate per Common Share 22.75 /sh Record date: May 21, 2018 Payment date: June 1, 2018 *Post-PFRS 13

Globe will divest all or part of its tower assets UBS appointed as Financial Adviser in project s preparatory phase Towers to be open for lease to potential new and existing players. In support of the government s initiative to open the telco industry to more competition To speed up the build and deployment of cellular towers in the Philippines 14

Beginning 1Q18, Globe s financial reporting will incorporate Philippine Financial Reporting Standard (PFRS) 9, Financial Instruments: Recognition and Measurement, and PFRS 15, Revenue from Contracts with Customers What is PFRS 9? PFRS 9, Financial Instruments: Recognition and Measurement, provides guidance on classifying financial instruments. What is PFRS 15? PFRS 15, Revenue from Contracts with Customers, provides guidance on accounting for revenue from contracts with customers. What is the impact of adoption of PFRS 9 to Globe? The new provisioning methodology, the Expected Credit Loss Model, assigns higher provisions for lower quality customers (and lower provisions for higher quality customers), reflecting the true picture of portfolio quality based on acquisition, payment behavior, and portfolio outlook. What is the impact of adoption of PFRS 15 to Globe? The new standard changes the longstanding practice of using monthly service fees to subsidize upfront cost of handsets, thus, requiring telco operators to carry out a "relative fair value" allocation between the handset and service. How will this adjustment be reflected in Globe s books? With the adoption of the modified retrospective approach, there will be a deduction to Retained Earnings of Php5.58 Billion, net of tax (Php7.98 Billion gross) in 1Q 2018. How will this adjustment be reflected in Globe s books? With the adoption of the modified retrospective approach, there will be an addition to retained earnings amounting to Php1.79 Billion, net of tax (Php2.56 Billion gross) as of March 31, 2018. 16

With Globe s adoption of the modified retrospective approach, the effects of PFRS 9 and 15 on prior year will be booked to Retained Earnings in the Balance Sheet PFRS 15 and 9 Adjustments to Retained Earnings In Php Mns Retained Earnings, 12/31/2017 21,708 Add (Deduct) the following: Effect of PFRS 9 (5,587) Effect of PFRS 15 1,790 Retained Earnings, 01/01/2018 17,912 17