1Q2023 Operating Highlights

Cash 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

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