Slide 1: Presentation to Investors May 2024
Presentation to Investors MAY 2 0 2 4
Slide 2: Table of Contents
Table of Contents The Philippine Economy……………………………3 About Belle Corporation……………………….……4 Property……………………………………………....7 Gaming………………………….…………….........10 Historical Financial Summary ………..…………..14 Dividend History ………………………..……........17 P R E S E N T A T I O N T O I N V E S T O R S 2
Slide 3: Philippines: strong macroeconomic fundamentals
Philippines: strong macroeconomic fundamentals Young workforce with rising incomes Opportunities GDP Growth Per Capita GDP Median Age Improved Infrastructure development 5.7% USD3,745 23 Provincial growth – Luzon, Visayas, Mindanao Job creation and inclusive growth Consumption Driven Per Capit
Slide 4: About Belle Corporation
About Belle Corporation Belle Corporation is a developer of tourism and leisure destinations in the Philippines. It is uniquely positioned to capture the high growth of premium leisure travel in the country. Established developer of premium destinations • City of Dreams Manila integrated entertainme
Slide 5: Our structure
Our structure 100% GAMING REAL ESTATE PORTFOLIO INVESTMENTS CITY OF DREAMS MANILA PREMIUM LEISURE CORP. • Land and buildings APC GROUP, INC. 99.5% • Gaming Investments • Lease agreement with 48.8% • Energy / natural resources • PSE listed (PLC) Melco Resorts and • PSE listed (APC) Entertainment (Phi
Slide 6: Our principal assets
Our principal assets Tagaytay Highlands City of Dreams Manila • Long history of luxury mountain resort living • Offers multi-awarded contemporary and lifestyle- • Lake and volcano views for signature golf focused hotel brands in its NÜWA, Nobu and courses, themed residential communities and Hyatt ho
Slide 7: Historical success as a developer of leisure destinations
Historical success as a developer of leisure destinations • 90 minutes from Makati CBD • Over 1,300 hectares Continuing to innovate after 25 years Voted : Best Leisure Development in the Philippines (2017) - Asia Pacific Property Awards Best Resort Residences (2017) – Philippine Property Awards Bell
Slide 8: Tagaytay Highlands: defining mountain resort living
Tagaytay Highlands: defining mountain resort living Luxury living: log cabins, lots, condominiums The Highlands (360 ha). 2,000 – 2,500 ft above sea level. Has 360-degree views, cool climate and proximity to club amenities 2017 Best Leisure Development The Midlands (670 ha). 1,000 – 1,500 ft above s
Slide 9: City of Dreams Manila: multi-awarded integrated resort
City of Dreams Manila: multi-awarded integrated resort 2015 Best Casino Integrated Resort Best Lobby Design Global category Best Hotel over 200 Rooms in Asia Pacific P R E S E N T A T I O N T O I N V E S T O R S 9
Slide 10: The Philippine gaming industry
The Philippine gaming industry Regulator : Philippine Amusement & Gaming Corporation (PAGCOR) Rise of integrated resorts • Since 1976, PAGCOR has been overseeing games of chance, particularly casino • Since 2008, 5 integrated resort projects have been approved by PAGCOR for gambling development at o
Slide 11: Integrated resorts: driving growth
Integrated resorts: driving growth In 2023, integrated resorts accounted for 76% of casino GGR. 2023 Philippine casino gaming revenues by category Image from Google maps Year Hotel Integrated Resorts Opened Rooms Resorts World Manila 2009 3,570 Solaire Resorts & Casino 2013 793 City of Dreams Manila
Slide 12: Gaming: a growth opportunity
Gaming: a growth opportunity Growth drivers: Philippine gaming has been on a growth • Tourist arrivals trajectory with integrated resorts leading the way. • Easier travel documentary requirements With the COVID-19 pandemic, which affected the • VIP experience compared to other regional casinos growt
Slide 13: Belle: unique exposure to gaming sector
Belle: unique exposure to gaming sector City of Dreams lease revenue (Php B) Gaming revenue share (Php B) 2.7 3.0 2.2 2.3 2.3 1.6 1.3 0.8 0.6 0.4 2019 2020 2021 2022 2023 2019 2020 2021 2023 2023 Guaranteed annuity income from lease (land Through PLC and building) • Upside from share in the gaming r
Slide 14: Belle Corporation Historical Financial Summary
Belle Corporation Historical Financial Summary Revenue (Php B) EBITDA (Php B) Recurring Net Income (Php B) 7.5 5.4 5.6 4.7 4.2 3.4 3.4 3.0 2.9 2.1 2.4 1.7 1.2 0.9 0.7 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 P R E S E N T A T I O N T O I N V E S T O R S 14
Slide 15: Belle Corporation Historical Financial Summary
Belle Corporation Historical Financial Summary (Amounts in Php millions except First Quarter FULL YEAR percentages) 2024 2023 2023 2022 2021 CONSOLIDATED REVENUE 1,331 1,550 5,630 5,414 3,410 EBITDA 800 963 3,656 3,162 1,464 EBIT 443 678 2,567 1,867 217 Net income 440 649 2,423 1,710 745 Recurring n
Slide 16: Historical Financial Summary
Historical Financial Summary Revenue Mix First Quarter of 2024 Revenue Mix 2023 (amounts in Millions of Php, except percentages) (amounts in Millions of Php, except percentages) Total = 1,331 Total = 5,630 Premium Leisure Corp (excl. Pacific Online) = 401 City of Dreams Lease = 35% 1,989 42% Pacific
Slide 17: Dividend History
Dividend History Amount Stock Price on Declaration Payment Dividend Declaration Date Date Date Yield ₱ millions ₱/ share ( ₱/ share) 28 Feb 2023 (Regular Dividend) 28 Mar 2023 600 0.06 1.47 4.08% 27 Feb 2020 (Regular Dividend) 27 Mar 2020 1,172 0.12 1.52 7.90% 28 Feb 2019 (Regular Dividend) 28 Mar 2
Slide 18: For more information
For more information Principal Investor Relations Michelle T. Hernandez Contact: Office Number: +632 8662.8888 Email Address: michelle.hernandez@bellecorp.com Official Website: www.bellecorp.com PSE Ticker BEL Bloomberg Ticker BEL:PM Reuters Ticker BEL:PS Disclaimer Except for historical financial a