#1SHI SM PRIME Investor Kit 2023 This presentation is available online through www.smprime.com#2Disclaimer This presentation does not constitute a prospectus or other offering memorandum in whole or in part. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company. There shall be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to any qualification under the securities laws of such state or jurisdiction. This presentation has not been and will not be reviewed or approved by any statutory or regulatory authority or any stock exchange in the Philippines or elsewhere. Prospective investors should undertake their own assessment with regard to their investment and they should obtain independent advice on any such investment's suitability, inherent risks and merits and any tax, legal and accounting implications which it may have for them. 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Neither the Company nor its advisor, nor any of their respective affiliates, shareholders, directors, employees, agents or advisers makes any expressed or implied representations or warranties as to the accuracy and completeness of the information contained herein or any other information (whether communicated in written or oral form) and each of the foregoing parties expressly disclaims any and all responsibility and liability of any kind (including any contractual, non-contractual, or third party liability) for any loss or damage, whether or not arising from any error or omission in compiling such information or as a result of any party's reliance or use of such information. The information in this presentation has not been independently verified. The information and opinions in this presentation are subject to change without notice, and no obligation is assumed by the Company nor its advisor, nor any of their respective affiliates, shareholders, directors, employees, agents or advisers to provide the recipient(s) with access to any additional information or to update this presentation or to correct any inaccuracies in it which may become apparent. SHI#3Outline I. Company Profile II. 1Q 2023 Financial Highlights III. Sustainability • . Sustainability Council SM Prime's Path to Sustainable Development Four Sustainability Pillars Sustainability in Our Business Units IV. The Company V. Key Strategies Key Strategies Landbank CAPEX Program VI. Financial Highlights VII. Investment Highlights • . Key Business Units At A Glance • Malls Residences • Offices • Hotels & Convention Centers#4Company Profile • One of the leading integrated property developers in Southeast Asia One of the largest listed real estate developers on the PSE by market capitalization and net income Consistently cited for excellence in corporate governance, property development, environmental consciousness, and investor relations programs SHI Kil Market Capitalization US$17.95bn PSE Stock Symbol Market Capitalization (May 5, 2023) PHP991bn Outstanding Shares 28,879mn Last Traded Price (May 5, 2023) SMPH Php34.30/share 30-Day Average Volume 7.8mn#51Q 2023 Financial Highlights Consolidated net income is at PHP9.44 billion, 27% higher than PHP7.42 billion in 1Q2022. • Consolidated revenues of PHP28.70 billion, 20% increase from PHP23.89 billion in the same period last year. Revenue Contribution: Malls Business accounts for 59%, Residential Business accounts for 30%, Other Business accounts for 11%. . • Philippine malls revenues reached PHP15.43 billion, grew by 88% from PHP8.20 billion in 1Q2022. China malls' revenues is at RMBO.202, almost same level as 1Q2022. • • Residential business, led by SM Development Corporation (SMDC), reported PHP8.52 billion revenues, 29% lower than last year's PHP12.02 billion SMDC's reservation sales is at PHP35.80 billion, 15% higher than PHP31.13 billion in the first quarter of last year. SM Prime's other business segments, which include offices, hotels, and convention centers, reported PHP3.21 billion revenues, 59% increase from last year's PHP2.02 billion. SHI#6Sustainability TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES 1x SHI FTSE4Good#7Sustainability Council STEERING COMMITTEE CHAIRMAN Mr. Jeffrey C. Lim ADVISORY GROUP Head office divisions that provide recommendations on the Steering Committee based on their expertise SUSTAINABILITY SECRETARIAT The department that coordinates with the members of the Advisory Group and business unit heads TECHNICAL WORKING GROUP Members of the business units that serve as data collectors and analysts#8Net-Zero Ambition Action Plan Before 2021 B Significantly reduced water use and waste 2021 2022 2023 2024 2030 2035 B Established solar-powered malls and began energy-efficiency programs Played a pivotal role in establishing and growing ARISE-Philippines, the local network of ARISE Global, the Private Sector Alliance for Disaster Resilient Societies Joined the ranks of over 2,500 companies globally in affirming our commitment to the Task Force on Climate-related Financial Disclosures (TCFD) goals and taking a major commitment towards decarbonization with our 50% renewable energy sourcing Adopted the Corporates for a Better Planet Initiative (CBPI), WWF-Philippines' flagship program. CBPI provides SM Prime with an actionable framework to operate sustainably and employ a robust reporting framework to address climate change Aligned with the SM Group of Companies' climate position statement, putting equal importance on climate mitigation and adaptation Publish the SM Prime Group-wide Sustainability Policy Complete the CBPI Measure Phase, resulting in the development of SM Prime's near-term science- based target, a verification of existing GHG inventory and methodologies, a regional and local industry scan of companies in the real estate industry, a climate scenario analysis which includes carbon pricing and geospatial analysis, and a summary of recommendations for the Company Begin the CBPI Manage Phase, providing solutions to achieve the science-based target outlined in the Measure phase. This phase will be highly bespoke and tailored to align with SM Prime's short-, medium-, and long-term strategies and capital flows. Managing these key solutions entails a robust network of both projects and solution providers, which is the purview of CBPI Achieve CBPI Maintain Phase, ensuring all targets and data are assessed regularly, considering any new factors or strategic directions that may have occurred within the year. CBPI is a continuously evolving and optimized process, and this phase ascertains that any projects or solutions undertaken in the Manage phase are on track to reach the targets set in the Measure phase Achieve near-term science-based target Achieve long-term science-based target 2040 Achieve Net Zero. 2050 - Global commitment to achieve net zero#9Sustainability Framework In 2020, our Board established a Sustainability Council with the understanding that the country's economic growth and our business growth has increased our exposure and vulnerability to global warming, global supply chain disruptions, and socio-economic forces that may undermine our prospects. Today, SM Prime continues to augment local economic growth and reinforce commercial activity with our vast range of properties that enrich Filipino life. As we expand, we seek to create thriving communities, reduce our environmental footprint, and inspire sustainable economic growth that extends prosperity for those in the margins. A successful sustainability framework requires a strong foundation. To ensure that fortified principles guide our framework, SM Prime follows four core pillars of sustainability. We have aligned our sustainability pillars with the principles governing the United Nations Sustainable Development Goals, the Task Force on Climate-related Financial Disclosures (TCFD), and the 2015-2030 Sendai Framework for Disaster Reduction. economy B= community SHI people environment#10SM Prime's Value Creation Our Inputs Our Business Activities Our Outputs ос Our Outcomes Financial FY 2022 CAPEX PHP 75.4B Total Equity PHP 363.2B Retail Bond Offering PHP 30B Employees Customers Investors and Stakeholders Manufactured Sustainable and Resilient Designs Properties in Strategic Locations Nationwide Intellectual Innovation, Digitalization, and Technology Natural Energy Efficiency and Reduction Renewable Energy Sourcing Carbon Emissions Reduction Water Conservation, Recycling and Management Waste Management Suppliers and Contractors Holding Company Malls Residences Strategic Growth Land Acquisition and Optimization Sustainable and Resilient Communities SHI Integrity Prudential Financial Management Customer- centric Innovation and Good Governance Hotels and Convention Centers Human SM LIFE Talent Management Experience Commercial Properties Recruit Right Perform Right Develop Right Reward Right Engage Right Government Regulators Media Partners Communities Financial PHP 874.2B in Total Assets PHP 105.8B in Total Revenues PHP 49.2B in Total Operating Income Manufactured 89 Malls 18 Office Buildings 84 Residential Condominiums 9 Hotels 6 Convention Centers and Trade Halls 6 LEED Gold Certified Buildings Intellectual In-house Development and Design of SM Malls Online and SM StartUp Package 75 SM Malls certified with Business Continuity Management Systems (ISO:22301) Natural At least 50% Renewable Energy Sourced 24 hectares of Protected Mangroves Three Marine Protected Areas Financial Business Viability Ensuring Future Investments Funds for New Projects and Business Expansion Manufactured Safe and Sustainable Properties Providing Employment, Creating Customer Satisfaction and Promoting Green Practices Urbanization and Increased Economic Activity in the Countryside Intellectual . Efficient and Innovative Policies and Systems Supporting Business Continuity Universally-designed Properties that are Pioneering, Accessible, Resource- efficient and Profitable Natural Reduced Carbon Footprint and Cost-savings Safe Communities Around our Properties Marine Diversity Conservation and Management Human 56% of Women in SM Prime's Workforce, 48% in Senior Management 28.4 Average Training Hours per Employee Human . Accelerated Employee Growth Assuring Business Continuity Nurtured and Happy Employees Social & Relationship . SM Cares Advocacies and Partnerships Corporate Social Responsibility Programs * Data as of FY2022 Strategic Priorities Business Segments Primary Stakeholders Improved Employee Quality of Life, Health and Safety 5 Social & Relationship PHP 33.8M for Private and Public Partnerships 68% of Mall Tenants are MSMEs Social & Relationship Livelihood Preservation Strong Multi-sector Relationships 8 00 13 ABO MEMO#11Key Business Unit SM PRIME Malls • SM Supermalls SM Lifestyle, Inc. Family Entertainment Center, Inc. Residences . SM Development Corporation and Subsidiaries Highlands Prime, Inc. Costa Del Hamilo, Inc. Offices Office and Warehouses Mall of Asia Complex Seaside City Cebu Complex Hotels & Convention Centers Radisson Blu Taal Vista Pico Sands Park Inn • Conrad Manila • SMX Convention Centers SHI#12At a Glance • Malls 1Q2023 Operating Highlights . Total Revenues is PHP17.05 billion, 72% increase from PHP9.91 billion Operating Income is PHP9.65 billion, 104% higher than PHP4.72 billion Total Investment Properties of PHP327.79 billion Offices 1Q2023 Operating Highlights Total Revenues is PHP1.71 billion, 25% higher than PHP1.36 billion Operating Income is PHP1.15 billion, 11% increase from PHP1.03 billion Total Investment Properties amounted to PHP82.71 billion SHI Residences 1Q20232 Operating Highlights • • • Total Revenues is PHP8.52 billion, 29% lower than last year's PHP12.02 billion Operating Income is PHP3.32 billion, 35% decrease from last year's PHP5.13 billion Total Assets amounted to PHP320.33 billion Hotels & Convention Centers 1Q2023 Operating Highlights Total Revenues is at PHP1.50 billion, 129% increase from PHP0.65 billion Operating Income improved to PHP0.36 billion Total Investment Properties of PHP13.71 billion#13At a Glance . • Lifestyle Cities in Metro Manila SM Prime has ten (11) integrated property developments in Metro Manila dubbed as Lifestyle Cities. SM Prime's first lifestyle city is the Mall of Asia Complex in Pasay City, which spans 60 hectares of developable area Novaliches, Quezon City Mall Residential Fairview, Quezon City Mall Offices Caloocan (North) Valenzuela Quezon City Navotas Malabon Caloocan North EDSA, Quezon City Mall Residential Office Hotel Sta. Mesa, Quezon City EDSA, Mandaluyong City Mall Mall Residential Residential Office Convention Center Marikina Manila Manila San Juan Mandaluyong Pasay Mall Residential Offices Hotel Convention Center Arena Pastg Makati Makati Pasay Pateros Tagula Taguig Taguig City Mall Residential Offices Convention Center Los Pin Las Piñas Parañaque Parañaque SHI Muntinlupa Muntinlupa Sucat, Parañaque City Mall Residential Bicutan, Parañaque City Mall Residential BF, Parañaque City Mall Residential Las Piñas City Mall Residential Offices#14At a Glance . • Lifestyle Cities in the Provinces SM Prime has eleven (11) integrated property developments in key provincial cities in the Philippines. SM Prime plans to expand its portfolio to other developing cities in the country with its key businesses - mall, residential, offices, hotels and convention centers. Zambales Olongapo, Zambales Mall Convention Center Clark, Pampanga Mall Offices Hotel Convention Center Marilao, Bulacan Mall Residential Pampange Taytay, Rizal Mall Residential Office Bulacan Rizal Trece Martires, Cavite Mall Residential Cavite Laguna Sta. Rosa, Laguna Mall Residential Office Iloilo City, Iloilo Mall Residential Offices Hotel Bacolod City, Negros Occ. Mall Residential Hotel Convention Center Iloilo Seaside City, Cebu Mall Convention Center Arena (soon) Bacolod Cebu Cagayan de Oro, Misamis Oriental Mall Residential Office SHI Cagayan de Oro Davao City, Davao Mall Residential Hotel Convention Center Davao#15SEASIDE CITY SHI Malls (As of 102023) Revenue PHP 17.05bn Operating Income PHP9.65 Gross Floor Area 10.4M sqm Malls 82 in PH and 7 in CH#16Key Business Units Malls PHILIPPINES 82 Malls 9.0M sqm Total GFA 19,690 Tenants CHINA 7 Malls 1.4M sqm Total GFA 1,883 Tenants 0.2M Average Daily Pedestrian Count Average Daily 3.3M Pedestrian Count 2 382 Cinema Screens 87,497 Car Park Slots 63 Cinema Screens 16,264 Car Park Slots SM Prime is the largest mall operator/developer in the Philippines. SHI#17• Key Business Units Philippine Malls In terms of GFA, Metro Manila malls account for 42%, Luzon (ex NCR) is 38%, Visayas is 12% and Mindanao is 8% Average mall contracts is 93% in terms of lease awarded. Accounts for 50% of mall space in the country SHI Philippine Population: 111M NCR: 24 Malls LUZON: 44 Malls VISAYAS: 7 Malls MINDANAO 7 Malls#18Key Business Units Mall Coverage in PH SMPH malls covered almost all of the key cities in Metro Manila, accounting for 42% of the company's total gross floor area in the Philippines. SMPH mall expansion is geared towards the provinces. The focus is to cover most of Northern Luzon, Visayas and the progressive cities in Mindanao. Philippine Population: 111M Luzon: 51M People NCR: 14M People Visayas: 20M People Mindanao: 26M People Existing Sites Future Sites Untapped Area SHI Valenzuela Caloocan (North) (1 Mall) Quezon City (5 Malls) Navotas Malabon Caloocan (2 Mall) Manila (2 Malls) Pasay (2 Malls) San Juan Mandaluyong (2 Malls) Makati Pasig (2 Malls) Pateros Taguig Las Piñas (2 Malls) Parañaque (3 Malls) Muntinlupa (1 Mall) (1 Mall) Marikina (1 Mall)#19Key Business Units China Mall . Operating in China since 2001 and became part of SM Prime in 2007 Operates 7 malls with a total GFA of 1.4m sqm: • SM City Xiamen . • . SM City Jinjiang SM City Chengdu SM City Suzhou SM City Chongqing SM City Zibo SM City Tianjin SHI SH SM City Xiamen CITY PAS 淄處適用 會員 SM City Tianjin SM City Zibo#20Key Business Units. Malls' Expansion Program • • ● 2023 New Malls 2023 Malls Expansion Name GFA (sqm) Name GFA (sqm) CITY GEGALAD SM City Bataan 46,000 CITY SM City Marilao 22,000 ROXAS SM City Cebu 31,000 SM Center San Pedro 22,000 SM City East Ortigas 27,000 SM City Sto. Tomas 58,000 SM City Bacolod 6,000 SM City Iloilo 2,000 This 2023, SM Prime targets to launch three new malls and expands existing malls. These will add around 200,000 sqm of gross floor area in the Company's mall portfolio. Available landbank of almost 340 hectares which is good for over the next 5 to 7 years. SHI#21SHI Residences As of 102023 Revenue PHP8.52bn Operating Income PHP3.32bn Reservation Sales PHP35.80bn Residential Units Launched (since 2013) PHP685bn / 177,074 units#22Key Business Units Primary Residences • • A leading residential developer of high-rise buildings (HRBs), mid-rise buildings (MRBs) and single-detached house and lots Accounts for 27% of the consolidated revenues Reservation sales value of PHP35.80 billion in 1Q2023 In 1Q2023, 51% of buyers are Overseas Filipino, 35% are Local Filipino and 14% are Foreign Buyers. Vail Residences, Cagayan De Oro SHI Now Residences, Zeal Residences, Cavite Pampanga#23Key Business Units Primary Residences Projects Overview (as of 1Q2023) Ready-for-Occupancy (RFO) (Unsold Units) 4,832 Ongoing Construction (Unsold Units) 14,732 Estimated Inventory Value PHP127.87bn 1Q2023 Reservation Sales (Value) PHP35.80bn 1Q2023 CAPEX PHP4.01bn Landbank (hectares) Metro Manila Outside Metro Manila 94 == 1,294 SHI Gold Residences, Paranaque City#24Key Business Units. Primary Residences in Metro Manila A leading residential developer of high-rise buildings (HRBs), mid-rise buildings (MRBs) and single-detached house and lots Reservation sales value of PHP35.80 billion in 1Q2023 Unbooked Revenue amounts to PHP217.77bn SHI Existing Sites Valenzuela Navotas Malabon Caloocan Caloocan (North) Quezon City (13 Projects) Marikina Manila (2 Projects) Pasay (10 Projects) San Juan Mandaluyong (3 Projects) Makati (5 Projects) Taguig Pasig (2 Projects) Pateros (1 Project) Parañaque (6 Projects) Untapped Area Las Piñas (3 Projects) Muntinlupa (1 Project)#25Key Business Units. • Primary Residences in Metro Manila As of March 2023, SMDC has eighteen (18) residential developments in key provincial cities 89% of these are mid-rise buildings (MRB), while 11% are house & lot (H&L) developments. In 2022, SM Prime launched: • Vail Residences in Cagayan de Oro, • Now Residences in Pampanga, and Zeal Residences in General Trias, Cavite These projects are alongside or near our SM Supermalls and transportation terminals. SHI Pampanga Pampanga Mabalacat (2 H&L) Angeles (1) Bulacan Marilao (1) Baliuag (1) Rizal Cainta (1) Bulacan Rizal Cavite Dasmarinas (1) Trece Martires (1) Tagaytay (2) Gen. Trias (1) Cavite Laguna Iloilo Bacolod Cagayan de Oro Laguna Sta. Rosa (2) Iloilo Iloilo City (1) Jaro (1) Bacolod Bacolod City (1) Cagayan de Oro Uptown (1) Davao Davao City (1) Davao#26. • Key Business Units Leisure Homes Include 2 large-scale tourism projects – Tagaytay Highlands and Pico de Loro Tagaytay Highlands is an exclusive mountain resort, golf club and residential complex, covering some areas of Cavite, Laguna and Batangas The 40-hectare Pico de Loro is the Phase 1 of Hamilo Coast project, a premier and sustainable leisure destination in Nasugbu, Batangas Freia at Pico de Loro Cove • Landbank of 530 hectares SHI Woodlands Point Community at Tagaytay Highlands Horizon Terraces Garden Villas#27HOME The good SHI Offices (As of 102023) Revenue 1.71bn Operating Income PHP1.15bn Gross Floor Area 1.5M sqm Office Buildings 18#28Key Business Units Offices Have 18 office buildings with a combined GFA of almost 1.5m sqm Five of these 18 offices are located in the Mall of Asia Complex in Pasay City, with a combined GFA of almost 627,000 sqm. Have an available landbank of 135 hectares for future development SHI ThreeE-Com Center FourE-Com Center Five E-Com Center#29A CONRAD SHI Hotels & Convention Centers (As of 102023) Revenue PHP1.50bn Operating Income PHPO.36bn Hotels 9 Convention Centers 8 CV SO#30. Key Business Units. Hotels & Convention Centers Operating 9 hotels with over 2,200 rooms; 6 Convention Centers, and 2 Trade Halls with almost 42,000 sqm of leasable space as of March 2023. Conrad Manila and SMX Manila are both located in Mall of Asia Complex, Pasay City. In 2022, SM Prime opened SMX Clark in Pampanga. Conrad Manila SHI Radisson Blu Cebu SMX Clark#31SHI Key Strategies 56 (As of 102023) Landbank 2,393ha 2023 CAPEX (Projected) PHP80bn Net Debt to Equity 46:54#32Landbank • • SM Prime's extensive landbank is good for the next 5 to 7 years, and mostly located in emerging progressive cities across the country Leisure projects are for medium-term development Area by Region (in hectares) Area No. of (in % of Metro Sites hectares) Total Manila Provincial 58 340 14% 24 316 Malls Primary 91 1,388 58% 94 1,294 Residences Leisure 88 888 5 530 22% Homes SHI 530 Commercial 22 135 6% 16 119 Total 176 2,393 100% 134 2,259#33CAPEX Program . • SM Prime has set PHP80 billion as CAPEX for 2023. This will be used in various property developments as well as strategic landbanking activities Furthermore, the Company will continue to explore opportunistic acquisitions and/or investments. The CAPEX program was funded by the combination of local borrowings, internal funds as well as other funding options are also on the table. 100% 8% PHP58B PHP91B 6% PHP69B PHP60B PHP65B PHP75B PHP29B 8% 14% 90% 17% 18% 20% 80% 70% 51% 42% 52% 62% 41% 60% 47% 50% 40% 30% 20% 41% 42% 44% 40% 35% 32% 10% 0% 2017A 2018A SHI 2019A 2020A 14% 66% 2021A 2022A 1Q23 ■Malls ■Residences Others#34Maintain Conservative Balance Sheet Interest Coverage Ratio* 7.56 Net Debt to Equity** 8.00 7.59 100% 7.00 6.45 90% 30% 6.00 80% 40% 44% 45% 46% 46% 5.00 5.33 4.61 4.57 70% 60% 4.00 50% 3.00 40% 60% 2.00 30% 60% 56% 55% 54% 54% 1.00 20% 10% 0.00 2018 2019 2020 2021 2022 1Q23 0% 2018 2019 2020 Net Debt 2021 Equity 2022 1Q23 *Earnings before interest, income taxes, depreciation and amortization (EBITDA) Interest expense SHI **Total interest-bearing liabilities- cash & cash equivalents Total equity attributable to equity holders of the parent#35SHI Financial Highlights i (As of 102023) Consolidated Net Income PHP9.44bn Consolidated Revenue PHP28.70bn Consolidated Operating Income PHP13.89bn EBITDA PHP17.01bn#36Consolidated Financials Revenue Segment Contribution . Malls Business accounts for 59% of SM Prime's consolidated revenues. 100% 8% 8% 88 8% 8% 10% 11% 90% 80% • Residential Business accounts for 30%. 35% 38% 70% • Other Business Segments cover the rest. 30% 38% 58% 56% 60% 50% 40% 30% 57% 54% 20% 59% 52% 34% 36% 10% 0% 2018 2019 2020 2021 2022 1Q23 SHI Malls Residences Other Business Segments#37Consolidated Financials Net Income Segment Contribution . Malls and Residences contributed the most among key business units. 100% 9% 7% 7% 11% 11% 13% 90% 80% 29% 33% 21% 30% 70% 60% 50% 40% 30% 62% 60% 70% 77% 66% 59% 20% 10% 23% 12% 0% 2018 2019 2020 2021 ■Malls Residences Other Business Segments SHI 2022 1Q23#38Consolidated Financials Net income grew by 27% to PHP9.44 billion in 2022 from PHP21.77 billion (In PHP Billion) 1Q23 1Q22 % Chg • Operating income increased by 30% to PHP13.89 billion from PHP10.69 billion. Revenue 28.70 23.89 20% • Consolidated revenue went up by 20% to PHP28.70 billion from PHP23.89 billion. EBITDA 17.01 13.48 26% Operating Income 13.89 10.69 30% Net Income SHI 9.44 7.42 27%#39Financials Philippine Malls . • Rental Income went up by 72% to PHP12.98 billion from PHP7.57 billion in the previous year. Cinema, ticket sales, and other revenues increased by 288% to PHP2.45 billion from PHPO.63 billion in first quarter of 2022. Operating income went up by 131% to PHP8.89 billion from PHP3.84 billion. (In PHP Billion) 1Q23 1Q22 % Chg Revenues 15.43 8.20 88% Rent Income 12.98 7.57 72% - Cinema, Ticket 2.45 0.63 288% Sales, and others EBITDA 10.95 5.73 91% Operating Income 8.89 3.84 131% SHI#40Financials China Malls • • SM Prime's China mall business posted an 11% decrease on its operating income at RMBO.09 billion from RMBO.11 billion. China malls revenues reached RMBO.2, almost same level as last year. (In RMB Billion) 1Q23 1Q22 % Chg Revenues 0.202 0.205 -2% - Rent Income 0.196 0.199 -1% - Others 0.005 0.006 -16% EBITDA 0.155 0.161 -4% Operating Income 0.095 0.106 -11% SHI#41Financials Residences • SM Prime's residential business posted PHP8.52 billion revenue, 29% lower from last year's (In PHP Billion) 1Q23 1Q22 % Chg PHP12.02 billion. • SMDC's reservation sales reached PHP35.80 billion, 15% higher than PHP31.13 billion. Revenues EBITDA 8.52 12.02 -29% 3.35 5.16 -35% Operating Income 3.32 5.13 -35% SHI#42Financials Other Businesses • Commercial Properties Group and Hotels and Convention Centers revenues cover 11% of the overall consolidated revenues. (In PHP Billion) 1Q23 1Q22 % Chg • • The Company's office business segment reported PHP1.71 billion revenues, 25% higher than PHP1.36 billion. SMPH's hotels and convention centers business segment recorded PHP1.50 billion in revenues, 129% higher than PHPO.65 billion. Revenues EBITDA 3.21 2.02 59% 2.04 1.38 48% Operating Income 1.51 0.96 57% SHI#43Consolidated Balance Sheet (In PHP Million (except % data) Assets Cash and cash equivalents 1Q2023 % to Assets 2022 % to Assets 24,640 3% 42,060 5% Equity instruments at fair value through other comprehensive income 19,729 2% 17,612 2% Receivables & Contract Assets 81,370 9% 82,560 9% Investment Properties 504,114 57% 489,266 56% Real Estate Inventories 71,203 8% 70,500 8% Other Assets Total Assets 177,851 20% 172,216 20% 878,907 100% 874,215 100% Liabilities and Stockholders' Equity Long-term debt and Loans Payable Accounts payable and others Total Liabilities 343,921 39% 352,397 40% 159,223 18% 156,666 18% 503,144 57% 509,063 58% Total Equity attributable to equity holders of the parent 373,601 43% 363,201 42% We continue to maintain a very conservative balance sheet • More than half of our assets are in the investment properties while our net gearing level is at 85%. SHI#44Cash Flow (In PHP Million (except % data) 1Q23 2022 2021 2020 2019 2018 Cash Flows from Operating Activities Operating Income before Working Capital Changes 16,836 60,104 44,520 39,455 65,791 56,592 Net Cash provided by operations 13.199 34,933 30,667 17,190 51,728 45,964 Net Cash used in Investing Activities (22,307) (52,244) (44,114) (43,944) (48,615) (64,078) Net Cash provided by Financing Activities (8,364) 19,686 22,624 22,818 (7,310) 12,633 Net Increase (Decrease) in Cash and Cash Equivalents (17,420) 2,284 9,114 (3,938) (4,166) (5,605) Cash and Cash Equivalents at Beginning of Year 42,060 39,776 30,662 34,600 38,766 44,372 Cash and Cash Equivalents at End of Year 24,640 42,060 39,776 30,662 34,600 38,766 Net gearing is equivalent to 46:54 in 1Q2023, below the management target of keeping 50:50 net debt to equity ratio SHI#45HS oday pada 220r Տեսոաաօշ Бирдорәлә SMPRIME Developing Communities 2022 Integrated Report SM PRIME SHI 2022 Integrated Report#46SHI SM PRIME Investor Kit 2023 This presentation is available online through www.smprime.com