San Miguel Corporation · PSE:SMC

San Miguel — 9M 2024 Earnings Presentation

22 slides from San Miguel's earnings presentation, Nov 11, 2024

1. Slide 1: SEC Form 17-C Current Report

   C07178-2024 SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-C CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Nov 11, 2024 2. SEC Identification Number 31171 3. BIR Tax Identification No. 000-168-801

2. Slide 2: Letter to PSE and PDEx forwarding SMC briefing materials

   PETRON November 11, 2024 PHILIPPINE STOCK EXCHANGE, INC. Disclosure Department 6" Floor, PSE Tower 5 Avenue corner 28" Street Bonifacio Global City, Taguig City Attention: Atty. Stefanie Ann B.Go Officer-in-Charge, Disclosure Department PHILIPPINE DEALING & EXCHANGE CORP. 29" Floor, BDO Equitable To

3. Slide 3: San Miguel Corporation Analysts' Briefing 2024 September YTD Results

   SAN MIGUEL CORPORATION Analysts' Briefing 2024 SEPTEMBER YTD RESULTS November 11, 2024 1

4. Slide 4: Executive Summary

   | Executive Summary » SMC Group continues to deliver significant strides in its sustainability initiatives to create a long-lasting impact on society at large and accelerate the transition towards a resilient and globally-competitive Philippines. » Despite challenges such as typhoons and currency fl

5. Slide 5: Recent Sustainability Developments in SMC

   | Recent Sustainability Developments in SMC ❑ Sustainability awareness building in the San Miguel Group • Two-day expo and forum for employees • Ongoing SDG workshops in the provinces ❑ Completed the CDP questionnaire ❑ Conducted workshops on Energy Management System and facility audits for the “Wat

6. Slide 6: Sustainable San Miguel - Increasing awareness in SMC

   | Sustainable San Miguel - Increasing awareness in SMC

7. Slide 7: SMC records double-digit growth in net income, rising 19% to ₱37.1 billion

   SMC records double-digit growth in net income, rising 19% Y-o-Y to ₱37.1 billion (In Million Php) 9M2024 9M2023 %Change EBITDA (In Million Php) NET SALES 1,179,521 1,061,088 11% 9% 15% 168,063 Margin 14% INCOME FROM 154,209 Margin 121,854 110,186 11% 3% OPERATIONS 5% 5% 5% 13% 13% NET INCOME 37,094

8. Slide 8: SMFB sustained its growth momentum with a 15% increase in operating income

   SMFB sustained its growth momentum with a 15% increase in operating income to ₱39.9 billion EBITDA (In Million Php) (In Million Php) 9M2024 9M2023 %Change 7% 17% NET SALES 291,108 276,656 5% 48,310 Margin 51,889 18% Margin 14% 15% INCOME FROM 30% 39,914 34,685 15% 24% OPERATIONS NET INCOME 30,410 27

9. Slide 9: SMB delivers 3% revenue growth, reaching ₱111.2 billion in 9M2024

   SMB delivers 3% revenue growth, reaching ₱111.2 billion in 9M2024 (In Million Php) 9M2024 9M2023 %Change EBITDA (in Million Php) (2%) NET SALES 111,220 108,333 3% 27% 29,436 Margin 28,934 26% INCOME FROM Margin 23,433 24,114 (3%) OPERATIONS NET INCOME 18,533 19,431 (5%) *Net income decline was due t

10. Slide 10: GSMI recorded a 26% growth in operating income

    GSMI recorded a 26% growth in operating income, supported by strong and consistent revenue growth (In Million Php) 9M2024 9M2023 %Change EBITDA (in Million Php) NET SALES 45,562 38,915 17% 19% Margin (3%) INCOME FROM 7,353 7,112 6,336 5,034 26% 16% OPERATIONS Margin NET INCOME 5,441 5,491 (1%) 9M202

11. Slide 11: San Miguel Foods posts strong growth in operating income, rising 88%

    San Miguel Foods posts strong growth in operating income, rising 88% to ₱9.8 billion (In Million Php) 9M2024 9M2023 %Change EBITDA (In Million Php) 12% NET SALES 134,329 129,412 4% 39% 15,526 Margin INCOME FROM 9% 2% 11,205 13% Margin 9,805 5,217 88% OPERATIONS 3% 10% 35% NET INCOME 6,701 2,899 131%

12. Slide 12: SMC's Packaging Group's operating income grew 31%

    SMC’s Packaging Group’s operating income grew 31% on better productivity and cost management (In Million Php) 9M2024 9M2023 %Change EBITDA (In Million Php) 19% 15% NET SALES 28,480 27,665 3% 4,146 Margin 13% INCOME FROM 3,471 Margin 2,098 1,596 31% OPERATIONS 9M2023 9M2024 Similarly, SMYPC’s EBITDA

13. Slide 13: San Miguel Global Power delivered a robust 23% increase in revenues

    San Miguel Global Power delivered a robust 23% increase in revenues driven by higher volumes (In Million Php) 9M2024 9M2023 %Change EBITDA Offtake Volumes (in Million Php) (in GWh) 37% NET SALES 153,592 125,213 23% 29% Margin 57% INCOME FROM 44,505 33,481 23,337 43% 26% OPERATIONS Margin 27,043 32,4

14. Slide 14: Petron reported a strong growth of 12% in revenues

    Petron reported a strong growth of 12% in revenues supported by its sustained volume growth (In Million Php) 9M2024 9M2023 %Change EBITDA Fuel Volumes (In Million Barrels) (in Million Php) NET SALES 657,933 587,283 12% 12% INCOME FROM 6% 9% 104.4 22,254 27,008 (18%) 35,874 Margin 93.6 OPERATIONS 5%

15. Slide 15: SMC Infrastructure revenues rose 8% on increased daily traffic

    SMC Infrastructure revenues rose 8% on increased daily traffic (In Million Php) 9M2024 9M2023 %Change EBITDA (in Million Php) Annual Average Daily Traffic (Vehicle Count) 2% 8% NET SALES 26,992 25,081 8% 82% 1,002,362 1,024,881 Margin INCOME FROM 14,613 13,567 8% OPERATIONS 82% Margin 20,503 22,041

16. Slide 16: San Miguel Equity Investment Inc. – Cement Business' operating income rose 16%

    San Miguel Equity Investment Inc. – Cement Business’ operating income rose 16% to ₱5.3 billion (In Million Php) 9M2024 9M2023 %Change EBITDA (in Million Php) NET SALES 27,041 28,887 (6%) 9% 28% INCOME FROM Margin 5,305 4,593 16% OPERATIONS 24% Margin 7,561 6,955 9M2023 9M2024 Operating income rose 1

17. Slide 17: SMC maintained a healthy balance sheet, with total assets hitting ₱2.6 trillion

    SMC maintained a healthy balance sheet, with total assets hitting ₱2.6 trillion SMC Financial Position (In Billion Php) September 30, 2024 December 31, 2023 Cash 281 261 Total Current Assets 868 831 Total Assets 2,599 2,459 Interest-bearing debt 1,477 1,405 Total Current Liabilities 705 745 Total Li

18. Slide 18: 9M2024 Business Updates & Outlook

    | 9M2024 Business Updates & Outlook » New NAIA Infra Corp. (NNIC) officially took over operations at NAIA on September 14, 2024, following the completion of all required deliverables for turnover as outlined in the Concession Agreement. In preparation for this transition, NNIC extended employment of

19. Slide 19: Q&A

    Q&A OOOO

20. Slide 20: Thank you!

    Thank you! SMCInvestorRelations@sanmiguel.com.ph C O R P O R AT E w w w. s a n m i g u e l . c o m . p h w w w. s m f b . c o m . p h WEBSITES w w w. s a n m i g u e l b r e w e r y. c o m . p h w w w. g i n e b r a s a n m i g u e l . c o m . p h w w w. p e t r o n . c o m w w w. s m c g l o b a l

21. Slide 21: Petron Corporation PCOR PSE disclosure form

    PCOR SERIES D BONDS DUE 2025 (IIN 6,800 MIL PESO) PCOR SERIES E BONDS DUE 2025 (IIN MIL 9,000 PESO) PCOR SERIES F BONDS DUE 2027 (IIN MIL 9,000 PESO) TOTAL DEBT AS OF SEPT 30, 2024 (IN MIL 247,776 PESO-CONSO) 11. Indicate the item numbers reported herein Item 9 The Exchange does not warrant and hold

22. Slide 22: Filed on behalf by Jhoanna Jasmine Javier-Elacio

    Filed on behalf by: Name Jhoanna Jasmine Javier-Elacio Designation Vice President - General Counsel and Corporate Secretary/Compliance Officer

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