1Q2023 Operating Highlights

CAPEX 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

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