Sm Prime Holdings, Inc. · PSE:SMPH
Sm Prime — Q1 2026 Earnings Presentation
35 slides from Sm Prime's earnings presentation, Apr 28, 2026
Slide 1: First Quarter 2026 Analyst and Investor Briefing
FIRST QUARTER 2026 ANALYST AND INVESTOR BRIEFING April 28, 2026
Slide 2: Featured Property: SMXCITE
FEATURED PROPERTY SMXCITE Located within the SM Mall of Asia Complex, the SMX Center for International Trade and Exhibitions (SMXCITE) has over 18,000 square meters of leasable space. It features five exhibition halls accommodating up to 803 standard 3x3-meter booths, four meeting rooms and two VIP
Slide 3: Disclaimer
DISCLAIMER This presentation does not constitute a prospectus or other offering memorandum in whole or in part. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company. There shall be no sale of these securities in any state or juri
Slide 4: Outline
OVERVIEW HIGHLIGHTS 05 10 OUTLINE SEGMENTS UPDATES OUTLOOK 15 19 21 4
Slide 5: Overview
OVERVIEW We are the largest integrated property developer in the Philippines, with a strategic presence in China. Our diversified and synergistic portfolio positions us strongly for sustained growth and value creation. P588B MARKET CAPITALIZATION P1,111B CONSOLIDATED ASSETS P475B TOTAL EQUITY All fi
Slide 6: The Prime Advantage
THE PRIME ADVANTAGE Strong brand equity and strong balance sheet MARKET LEADERSHIP MULTI-BRAND STRENGTH Largest network of malls, mid- market Market-leading and premium brands residential developments, MICE venues across key property sectors and cinemas RESILIENT EARNINGS STRATEGIC EXPANSION • 65% o
Slide 7: Our Portfolio
OUR PORTFOLIO All figures as of end of 1Q 2026 Our diverse portfolio includes iconic shopping malls, modern residences, prime office spaces, premium hotels and world-class convention centers, creating thriving communities across the Philippines and in select cities in China. 22 Integrated Property D
Slide 8: Our Brands
OUR BRANDS We drive exceptional value and experiences through our market-leading and premium brands. 48
Slide 9: Integrated Property Developments
INTEGRATED PROPERTY DEVELOPMENTS 11 ONCR 11 NCR 49
Slide 10: Consolidated Highlights
CONSOLIDATED HIGHLIGHTS In Php bn, except 1Q 2026 1Q 2025 % CHANGE • Top line grew due to higher rental margin income and other revenues, which helped cushion weaker real estate Revenue 33.3 32.8 2% sales. EBIT 16.7 16.7 0% • Rental income jumped due to higher mall and office occupancy, along with h
Slide 11: Key Financial Results
KEY FINANCIAL RESULTS In Php mn 1Q 2026 1Q 2025 % CHANGE Revenue 33,279 32,773 2% Cost and Expenses 16,552 16,095 3% Operating Income 16,727 16,679 0% Net Income Attributable to Parent 11,661 11,653 0% EBITDA 20,588 20,233 2% See Appendix for further details 4 11 9
Slide 12: Revenue Breakdown
REVENUE BREAKDOWN Rent contributed 65% of total revenues, up from 61% a year ago Real Estate In Php mn 1Q 2026 1Q 2025 % CHANGE 23% 1Q 2026 Rent P33.3B 65% Rent 21,611 20,021 8% Others 12% Real Estate Sales 7,757 9,217 -16% 3,536 11% Real Estate Others* 3,912 28% 1Q 2025 Rent P32.8B Total Revenue 33
Slide 13: Capital Structure
CAPITAL STRUCTURE Asset growth is well-supported by disciplined balance sheet management, with healthy liquidity and strategically managed debt. ASSET GROWTH LIQUIDITY POSITION DEBT AND LEVERAGE P1,110.9B P19.8B P426.1B TOTAL ASSETS OPERATING CASH FLOW INTEREST-BEARING DEBT P679.3B P35.4B P632.6B IN
Slide 14: Strong Balance Sheet and Prudent Capital Management
STRONG BALANCE SHEET AND PRUDENT CAPITAL MANAGEMENT Healthy balance sheet and careful cash flow management, backed by disciplined investment assessment on land banking and project developments Total debt / EBITDA and net debt / EBITDA (1) (2) SMPH maturity schedule as at 31 March 2026 5.77x 5.08x 25
Slide 15: Revenue Contribution per Segment
REVENUE CONTRIBUTION PER SEGMENT • Malls remained the largest In Php mn 1Q 2026 1Q 2025 % CHANGE contributor, accounting for 61% of total revenue. Malls 20,391 18,866 8% • Residential followed representing 25% of total revenue. Residences 8,303 9,697 -14% • Hotels and Convention Centers and Offices
Slide 16: Malls
MALLS In Php mn 1Q 2026 1Q 2025 % CHANGE For PH malls only 1Q 2026 1Q 2025 % CHANGE Revenue 20,391 18,866 8% Total GFA (in mn sqm) 9.8 9.5 3% PH Malls Rental Income 15,264 14,223 7% Total GLA (in mn sqm) 5.1 5.0 3% Others 5,127 4,642 10% Occupancy Rate (long-term) 96% 95% 1pp EBIT 11,919 10,695 11%
Slide 17: Residences
RESIDENCES In Php mn 1Q 2026 1Q 2025 % CHANGE CORE AND LEISURE 1Q 2026 1Q 2025 % CHANGE Real estate sales, Reservation Sales (in Php mn) 12,311 12,230 1% rentals and other 8,303 9,697 -14% Core 11,946 11,644 3% revenues Leisure 365 586 -38% EBIT 2,513 3,959 -37% Inventory (in units) 28,317 24,779 14
Slide 18: Hotels and Convention Centers
HOTELS AND CONVENTION CENTERS In Php mn 1Q 2026 1Q 2025 % CHANGE HOTELS 1Q 2026 1Q 2025 % CHANGE Revenue 2,187 2,029 8% Room Keys 2,602 2,602 0% EBIT 504 433 16% Occupancy Rate 67% 66% 1pp EBITDA 718 632 14% Average Daily Rate 6,274 5,854 7% REVENUE BREAKDOWN CONVENTION CENTERS 1Q 2026 1Q 2025 % CHA
Slide 19: Offices
OFFICES (In Php mn) 1Q 2026 1Q 2025 % CHANGE OFFICES 1Q 2026 1Q 2025 % CHANGE Revenue 2,472 2,248 10% GFA (in mn sqm) 1.6 1.6 5% 3PO 55 1,592 STANDALONE 12% GLAOFFICES (in mn sqm) 07 0.9 0.8 3% EBIT 1,790 MALL-ADJACENT OFFICES 15 WAREHOUSES EBITDA 2,269 2,041 11% Occupancy 05 Rate 77% 70% 7pp Office
Slide 20: Pasay 360
PASAY 360 100% 90% ongoing ongoing on track done done SM Prime’s most transformative integrated property development— Land Filling and Soil Stabilization Infrastructure Land Project Turnover an unprecedented urban estate that Formation Revetment Works and Planning and Titling Ground Improvement fuse
Slide 21: Strategic Updates
STRATEGIC UPDATES We continue to drive organic growth and expand into new markets. MALLS HOTELS AND CONVENTION CENTERS 3PO 55 Nationwide adjustment STANDALONEto itsOFFICES 07 Open new convention center and MALL-ADJACENT standard operating hours in OFFICEStrade 15 halls to capture more MICE- WAREHOUS
Slide 22: Outlook
OUTLOOK MALLS RESIDENCES HOTELS AND OFFICES CONVENTION CENTERS Opened SM City Continues expanding Scheduled to open SMX Set to open SM City Cebu Zamboanga last March projects in Tagaytay Convention Center Towers providing and scheduled to open 3 Highlands and Costa del Seaside Cebu additional 60,000
Slide 23: Q&A
Q&A 23 23
Slide 24: Closing Remarks
CLOSING REMARKS CLOSING REMARKS JEFFREY C. LIM JEFFREY C. LIM President President • Replace JCL photo 23
Slide 25: Appendix
APPENDIX FINANCIAL OTHER BUSINESS ESG STATEMENTS UPDATES HIGHLIGHTS 26 29 31 25
Slide 26: Income Statement
INCOME STATEMENT Condensed, Unaudited In Php mn, except EPS 1Q 2026 1Q 2025 Revenues 33,279 32,773 Cost and Expenses 16,552 16,095 Operating Income 16,727 16,679 Other Charges -2,347 -2,299 Income Before Tax 14,380 14,380 Provision for Income Tax 2,513 2,516 Net Income 11,867 11,864 Net Income Attri
Slide 27: Balance Sheet
BALANCE SHEET Condensed, Unaudited ASSETS (in Php mn) 1Q 2026 FY2025 LIABILITIES & EQUITY (in Php mn) 1Q 2026 FY2025 Cash & Cash Equivalents 35,410 27,645 Loans Payable and Current Portion 83,123 99,295 of Long-term debt Equity instruments at FVOCI 17,033 19,008 Accounts Payable & Other 206,443 202,
Slide 28: Cash Flow Statement
CASH FLOW STATEMENT Condensed, Unaudited In Php mn 1Q 2026 1Q 2025 Net cash from operating activities 19,851 17,753 Net cash used in investing activities -11,265 -16,296 Net cash from financing activities -843 9,623 Currency Translation Impact 21 -4 Cash and cash equivalents at end 35,410 42,322 of
Slide 29: Capex and Trend Breakdown
CAPEX AND TREND BREAKDOWN In Php bn 2022 2023 2024 2025 1Q 2025 1Q 2026 YoY Malls 21.31 32.96 30.90 29.62 7.20 6.04 -16% Residences 36.75 25.49 23.14 16.93 2.65 5.39 104% Commercial and Integrated Commercial Development (formerly Coastal Dev’t) 11.44 22.16 25.28 33.05 6.95 3.16 -55% Hotels and Conve
Slide 30: Landbank
LANDBANK Geographically diverse land bank in key growth areas, suited for mixed-use development. Strategic acquisitions to support expansion and portfolio growth. Visayas Commercial 6% 6% Mindanao 6% NCR 4,430 9% BY BY BUSINESS LOCATION Residential HECTARES UNIT 52% Malls 42% Luzon 79% 430 9
Slide 31: Share Buyback Program
SHARE BUYBACK PROGRAM UTILIZATION RATE VS. PROGRAM DETAILS AUTHORIZED CAP (P10B) Authorization Date December 09, 2024 Total Authorized Amount P5 billion - P10 billion EXCECUTION SUMMARY 29.8% as of end 1Q 2026 Execution Period (Start–End Dates) January - March 2026 Total Shares Repurchased 84,343,20
Slide 32: Environmental
ENVIRONMENTAL SM Prime continues to Water Recycling Sustainable Power Energy Savings lead the way in SM Prime observed the sustainable property SM Prime recycled 6.7 million cubic SM Prime sources more than 60% of its global Earth Hour across its development, delivering meters of water in 2025. oper
Slide 33: Social
SOCIAL Bike-inclusive SM Book Nook Donation Drive 2026 Accelerated push for mobility earns SM a record-breaking 36 recognitions at the Nearly 100 peer-reviewed research journals DOTr Mobility Awards for promoting safe, were donated by Ateneo de Manila accessible, and sustainable transport across Uni
Slide 34: Governance
GOVERNANCE 2026 Asia Pacific Stevie Awards SM Offices Adds 60,000 sqm in Cebu SM Supermalls was named Organization of Over 60,000 sqm of leasable space will be the Year, earning multiple distinctions across added in Cebu by Q4 2026, capitalizing on categories such as innovation in community strong r
Slide 35: Thank you for attending.
Thank you for attending. INVESTOR RELATIONS T: (02) 8 862-7942 E: INFO@SMPRIME.COM WWW.SMPRIME.COM