Alliance Global Group Inc. · PSE:AGI
Alliance Global — H1 2026 Earnings Presentation
29 slides from Alliance Global's earnings presentation, Aug 14, 2026
Slide 1: 1H2026 Analysts' Briefing
1H2026 Analysts’ Briefing August 14, 2026
Slide 2: Performance Highlights
Performance Highlights AGI P&L Highlights P&L Highlights, by key subsidiary Revenue Share 1H25 1H26 MEG EMI TRAV MEG EMI TRAV 17% 50% 44.2 87.5 89.9 33% 29.6 Attributable Profit Share MEG EMI TRAV 15.2 10.9 15.6 16.0 25% 10.6 10.8 3.7 0.6 Revenue Revenue Profit Profit Revenue Profit Revenues Pre-min
Slide 3: AGI 2Q26/1H26 Financial Performance
AGI 2Q26/1H26 Financial Performance Normalized (Pbn) 2Q26 2Q25 YoY chg 1Q26 QoQ chg 1H26 1H25 YoY chg • AGI delivered steady growth, driven by growth across residential, Revenues 47.7 45.6 5% 42.2 13% 89.9 87.5 3% leasing, hospitality, and spirits, supported by cost efficiencies. Megaworld 22.6 22.1
Slide 4: Group Borrowings
Group Borrowings Gross Borrowings AGI Gearing Net debt (cash) Net debt/equity MEG EMI TRAV Parent & others 0.46x 0.42x 0.43x 0.36x 0.36x 0.32x 283 209 206 273 250 47 69 173 215 222 214 44 40 142 41 44 81 63 72 119 119 53 56 52 33 42 43 26 25 24 103 110 103 99 94 95 2021 2022 2023 2024 2025 1H26 2021
Slide 5: Group Gearing
Group Gearing MEGAWORLD EMPERADOR TRAVELLERS PARENT Net debt (cash) Net debt/equity Net debt (cash) Net debt/equity Net debt (cash) Net debt/equity Net debt (cash) Net debt/equity 0.08x 0.32x 0.30x 0.30x 0.30x 0.06x 0.28x 0.27x 0.24x 0.24x 0.20x 1.39x 1.40x 37 0.22x 0.16x 1.23x 0.04x 0.05x 0.12x 1.1
Slide 6: Capital Expenditure
Capital Expenditure AGI CAPEX, by key subsidiary MEG EMI TRAV OTHERS 81 68 63 25 P23bn 62 57 4 5 5 5 1H2026 Capex spent 3 4 8 2 (37% of the FY2026 budget) 48 5 5 7 1 4 6 2 FY2026 budget 46 50 51 49 23 1 55 P62bn (revised from P72B budget) 1 38 21 2021 2022 2023 2024 2025 1H26 2026E 6 All items are i
Slide 7: Enhancing Shareholder Value
Enhancing Shareholder Value SHARE BUYBACK PROGRAM AGI • Buyback program size: P11.0bn 93% • • Amount utilized: P10.3bn (93%) 960.4m shares bought at an average price P10.68 per share. • Implementation period: 63 months from October 2021 to December 2026 MEG • Buyback program size: P2.0bn • Amount ut
Slide 8: Enhancing Shareholder Value
Enhancing Shareholder Value AGI WARRANTS DIVIDEND Entitlement : AGI 1 warrant for every 4 common shares owned Dividend per share: P0.10 Underlying AGI common shares: Record date: December 22, 2025 2,203,548,165 Payment Date: January 16, 2026 Offer price: EMI P0.50 per warrant Dividend per share: P0.
Slide 9: Megaworld Corporation
Megaworld Corporation 1H2026 Financial Performance 37 4,436 1.6m 517k 7,348 Township and Integrated Undeveloped Office GLA Lifestyle Malls GLA Hotel Lifestyle Communities Landbank (sqm) (sqm) Room Keys (has)
Slide 10: MEG 2Q26/1H26 Financial Performance
MEG 2Q26/1H26 Financial Performance In Pbn 2Q26 2Q25 YoY chg 1Q26 QoQ chg 1H26 1H25 YoY chg • Steady revenue growth continued, Revenues 22.6 22.2 2% 21.6 5% 44.2 43.1 3% supported by broad-based growth across business segments. Residential 13.9 14.0 -1% 13.3 5% 27.2 27.1 0% Office 3.9 3.7 6% 3.8 2%
Slide 11: MEG P&L Performance - Quarterly
MEG P&L Performance - Quarterly REVENUE EBITDA ADJUSTED NET INCOME Development Rental Hotels Development Rental Hotels 41.7 40.7 2.8 3.1 10.7 11.4 11.8 18.8 19.3 10.4 0.4 0.4 20.8 20.5 21.3 19.9 20.0 1.4 18.5 1.5 1.6 10.3 1.4 1.3 9.9 1.5 5.7 6.1 5.3 5.4 5.5 5.6 9.8 5.5 5.5 5.7 9.3 9.5 9.4 9.0 9.5 5.
Slide 12: MEG Key Operating Segments - Quarterly
MEG Key Operating Segments - Quarterly RES VS GROSS PROFIT RENTAL VS EBITDA MARGIN HOTEL REV VS EBITDA MARGIN Real Estate Sales Gross Profit Dev't GP Margin Rentals Rentals EBITDA EBITDA Margin Hotel Hotel EBITDA EBITDA Margin 55% 54% 54% 53% 88% 87% 88% 87% 87% 88% 87% 51% 86% 50% 50% 50% 14% 14% 1
Slide 13: 2026 Operational Updates
2026 Operational Updates 37 TOWNSHIPS 5,767 HECTARES PROJECT LAUNCHES CAPITAL SPENDING RESERVATION SALES P16.0bn P21.1bn P63.0bn vs P50bn FY26 target vs P55bn FY26 target vs P125bn FY26 target
Slide 14: 2026-2029 Targets
2026-2029 TARGETS PREMIER OFFICES LIFESTYLE MALLS HOTELS 88.8k 144.1k GROSS LEASABLE AREA (sqm) 1,956 GROSS LEASABLE AREA (sqm) HOTEL ROOM KEYS 2026 2026 2026-2029 14
Slide 15: Travellers International Hotel Group, Inc.
Travellers International Hotel Group, Inc. 1H2026 Financial Performance 2,241 5 86% 499 2,626 Hotel International Hotel Occupancy VIP and Mass Hotel Brands (1H2026) Slots Room Keys Gaming Tables
Slide 16: Travellers 2Q26/1H26 Financial Performance
Travellers 2Q26/1H26 Financial Performance In Pbn 2Q26 2Q25 YoY chg 1Q26 QoQ chg 1H26 1H25 YoY chg Total Gross Revenues 9.7 9.2 6% 8.6 13% 18.3 18.9 -3% • Gaming performance remained resilient, with 2Q26 GGR up 4% YoY Gross Gaming Revenue 7.8 7.5 4% 6.6 19% 14.4 15.4 -7% and 19% QoQ, supported by st
Slide 17: Travellers P&L Performance – Quarterly
Travellers P&L Performance – Quarterly NET REVENUE GGR: NON-VIP vs VIP Net Gaming Non-Gaming Non-VIP VIP 15.1 15.2 15.4 14.4 3.5 3.9 6.4 4.8 9.0 8.3 7.9 8.0 7.9 7.7 7.5 7.7 7.5 7.8 2.5 7.0 6.6 1.6 1.9 1.8 1.7 2.6 3.0 2.8 2.0 11.6 3.5 2.9 11.3 2.0 9.1 9.6 5.8 5.8 6.1 6.5 6.4 5.0 4.7 5.4 4.9 5.1 4.4 4
Slide 18: Travellers P&L Performance – Quarterly
Travellers P&L Performance – Quarterly EBITDA AVERAGE DAILY VISITORS 4.4 3.9 46.4 45.0 44.8 44.4 43.8 40.8 41.0 40.9 2.6 2.7 2.5 2.1 1.9 1.7 Q125 Q225 Q325 Q425 Q126 Q226 1H25 1H26 Q125 Q225 Q325 Q425 Q126 Q226 1H25 1H26 18 All items are in billion pesos except average daily visitors . (‘000)
Slide 19: Online Gaming Ecosystem
Online Gaming Ecosystem : ! > 11:52. tue & 11:52 re = epic wor [tosin @ ett | SS Crroworee ) op @zy : Filters & Sorting = ch ga HOT GAMES. ‘View More (35) We aan) = “picewelb 18 200K winner WSS SPORTS 1 as : oes LIVE CASINO ‘View More (28) | (2a Wild bounty 2 QUEEN OF INC. P2000, POWERED BY NE\WPORT
Slide 20: Asset Infused to MREIT
Asset Infused to MREIT Newport World Resorts TRANSACTION VALUE MREIT SHARES ACQUIRED TOTAL GLA P5.1BN 309.4MN Shares 46,900 SQM
Slide 21: Westside Resorts Manila
Westside Resorts Manila Paranaque City GAMING CAPACITY HOTEL CAPACITY THEATERS FOOD & BEVERAGE 260 Tables • 2,000 Slots & ETGs 500 Rooms + 2,000 Keys from MEG 4 Theaters • 4,900 Seats 20+ Outlets • 1,800 Seats
Slide 22: Narra Palm Resorts & Villa
Narra Palm Resorts & Villa Newport World Resorts GAMING CAPACITY HOTEL CAPACITY 5 Private Gaming Suites, Lounge & Bar 157 Hotel Suites and Villas
Slide 23: The biggest player in the PH leisure and tourism sector
The biggest player in the PH leisure and tourism sector Hotels Target Portfolio: 12,000 Hotel Room Keys by 2029 CURRENT PORTFOLIO CURRENT PORTFOLIO 2,241 7,348 Hotel Room Keys Hotel Room Keys
Slide 24: Emperador Inc.
Emperador Inc. 1H2026 Financial Performance 6 5 >100 25 Vineyards Distilleries Countries under Domestic in Spain in Scotland Global Distribution System Sales Office
Slide 25: EMI 2Q26/1H26 Financial Performance
EMI 2Q26/1H26 Financial Performance In Pbn 2Q26 2Q25 YoY chg 1Q26 QoQ chg 1H26 1H25 YoY chg Revenues 16.2 15.0 8% 13.4 22% 29.6 28.2 5% • EMI sales showed signs of recovery, Brandy 10.5 9.8 7% 8.7 20% 19.2 18.5 4% supported by stronger domestic demand and growth in international markets. Whisky 5.8
Slide 26: EMI P&L Performance - Quarterly
EMI P&L Performance - Quarterly REVENUES ATTRIBUTABLE INCOME* Brandy Whisky Brandy Whisky 29.6 28.2 3.9 3.7 10.4 9.7 0.8 0.7 15.8 16.2 15.0 2.1 13.4 1.9 1.9 13.2 13.0 1.8 6.4 5.8 5.2 0.4 4.5 5.2 4.6 0.4 0.4 19.2 0.3 3.1 18.5 0.7 3.0 10.5 1.7 -0.8 8.7 9.8 9.5 8.7 1.4 1.5 1.5 7.8 0.5 0.5 0.2 Q125 Q225
Slide 27: EMI P&L Performance - Quarterly
EMI P&L Performance - Quarterly WHISKY REVENUE, BRANDY REVENUE, GROSS PROFIT , MARGIN GROSS PROFIT , MARGIN Whisky revenue Gross profit Margin Brandy revenue Gross profit Margin 40% 29% 30% 29% 27% 26% 39% 25% 38% 23% 38% 37% 37% 37% 36% 18% 19.2 18.5 10.4 9.7 9.8 10.5 6.4 9.5 5.8 8.7 8.7 5.2 5.2 7.
Slide 28: Key Takeaways
Key Takeaways • AGI delivered a solid performance in 2Q26/1H26, with all core businesses contributing: MEG on broad-based leasing and hospitality strength, EMI as brandy and whisky both returned to growth, and Travellers on operating leverage and a better revenue mix. • The mix is more durable: Trav
Slide 29: 1H2026 Analysts' Briefing
1H2026 Analysts’ Briefing August 14, 2026
Alliance Global Group — H1 2026 Earnings Presentation on 6ix