Aboitiz Equity Ventures Inc. · PSE:AEV
Aboitiz Equity Ventures — Investor Presentation (July 2026)
57 slides from Aboitiz Equity Ventures's investor presentation, July 2026
Slide 1: Investor Presentation
Investor Presentation July 2026 Aboitiz Equity Ventures
Slide 2: Aboitiz Group at a glance
Aboitiz Group at a glance HOLDING COMPANY Listed 53% 50% 100% POWER BANKING FOOD AND BEVERAGE INFRASTRUCTURE PROPERTY Listed Listed 100% DEVELOPMENT 100% 40% 45% 2
Slide 3: Key milestones and acquisitions
Key milestones and acquisitions Sep 2018 Sep 2021 AEV and ACO sold 25% AboitizFoods and 2% of their stakes in acquired 75% of Jul 2014 GoldCoin for AP to JERA for PHP75/PHP5b (or AboitizFoods acquired USD334m PHP41/sh) 70% of Vinh Hoan Feeds Dec 2016 (1st offshore investment) for AP acquired 66% of
Slide 4: Key milestones and acquisitions in 2025
Key milestones and acquisitions in 2025 2025 saw the operational turnover of strategic assets acquired in 2024. Apr 2025 Laguindingan airport was officially turned over to AIC Jul 2025 Thunder Consortium was the Dec 2025 Sep 2024 Nov 2024 Jun 2025 highest bidder for CBK. Financial close the asset AI
Slide 5: Advancing on our diversification strategy FY25
Advancing on our diversification strategy In 2020, the Aboitiz Group set a goal to increase the contribution of its non-power businesses to 50% of beneficial EBITDA by 2030. As of December 2025, these segments contribute 42%, a significant increase from 32% in 2020. 2020 2030 Real Estate, 1% Infrast
Slide 6: Group beneficial EBITDA up by 25% YoY
Group beneficial EBITDA up by 25% YoY Power remains to be the biggest contributor to AEV, followed by the Food and Beverage segment. Meanwhile, the Bank segment more than doubled its beneficial EBITDA contribution year-on-year. Beneficial EBITDA PHPb Power accounted for 62% of AEV’s beneficial EBITD
Slide 7: 1H26 NIAT up 63% YoY to PHP13.6bn
1H26 NIAT up 63% YoY to PHP13.6bn NIAT growth was driven by the topline-driven YoY improvements in the contributions of AP, UBP, AboitizFoods and CCEAP. NIAT PHPb 52,382 13,210 39,925 11,314 9,787 8,608 15,694 11,523 13,638 13,689 8,387 8,481 Statutory EBITDA EBITDA Less: Net Interest Less:Expense L
Slide 8: AEV has a strong financial track record
AEV has a strong financial track record The Group’s dynamic but well-balanced portfolio of assets enable AEV to deliver stable beneficial EBITDA and core NIAT despite changes Beneficial EBITDA Core NIAT 72,672 64,492 58,671 49,228 48,907 44,275 37,887 26,782 25,512 25,510 22,120 20,475 15,911 13,689
Slide 9: Balance sheet remains primed for expansions
Balance sheet remains primed for expansions Growth in consolidated asset base is attributable to ongoing expansions in Power and the turnover of CBK asset. PHPm CONSOLIDATED PHPm PARENT LEVEL 31 Dec 2025 30 Jun 2026 31 Dec 2025 30 Jun 2026 Cash and Cash Equivalents 87,753 86,601 Gross Debt 87,923 84
Slide 10: Consistent dividend payout
Consistent dividend payout AEV declared total cash dividends of PHP1.53 pesos per share, which implies a yield of 5%. Dividend per share PHP/sh ₱1.80 4.6% 4.7% 5.0% ₱1.60 4.5% 4.0% ₱1.40 0.43 3.5% ₱1.20 2.7% 2.9% 2.6% 3.0% ₱1.00 2.5% ₱0.80 1.62 1.54 1.47 1.40 2.0% ₱0.60 Based on a third of AEV’s 1.1
Slide 11: Subsidiary Level Updates
SUBSIDIARY LEVEL UPDATES aitiz Po) -
Slide 12: AboitizPower is a leading Philippine energy provider
AboitizPower is a leading Philippine energy provider ● AP generates 1 in 5 MW of installed capacity ● AP, through its retail subsidiaries, holds ● AP owns nine distribution utilities, in the Philippines 27% of the PH market share with over including the Philippines’s second and ● AP and its partners
Slide 13: Power Generation: Thermal Generation Business Group
Power Generation Thermal Generation Business Group Building the future today by leading the energy transition and ensuring energy security and equity 17 4,123 MW 1 2 4 3 attributable net sellable capacity facilities as of July 2026 Our power generation capabilities extend nationwide: 1. Bataan 5. Ce
Slide 14: Power Generation: Renewable Generation Business Group
Power Generation Renewable Generation Business Group 2 1 Energizing communities, uplifting lives 3 4 5 6 40 2,048 MW attributable net sellable capacity 7 8 9 facilities as of July 2026 Our power generation capabilities extend nationwide: 1. Ilocos Sur 5. Aguilar and Bugallon, Pangasinan 8-9. Batanga
Slide 15: Power Distribution: Distribution Business Group
Power Distribution Distribution Business Group Empowering the evolution of our cities 9 5,114 km2 1 2 utilities total service area 3 1.24mn 9,230 GWh total electricity sales (January-December 2025) no. of customers 4 Our distribution utilities cover high-growth areas in the country: 1. Zambales 4. C
Slide 16: Retail Electricity Supply
Retail Electricity Supply Retail Business Group Empowering a brighter future, innovating energy for everyday life AboitizPower retail electricity suppliers (RES) collectively hold the top market share at 27% in terms of actual demand in the Philippines* *Competitive Retail Electricity Market (CREM)
Slide 17: AboitizPower has a strong financial track record
AboitizPower AboitizPower has a strong financial track record The Company’s financial performance has been on an upward trajectory since 2020. 9% 13% CAGR: 12% 16% 11% ROE (in %) 2021: 6 27% 2% 2022: 19 36% 2023: 21 2024: 20 2025: 10 * AVE: 17.4 *Excluding the impact of the partial goodwill impairme
Slide 18: Generation portfolio
Power Generation Generation portfolio As of June 2026, coal assets account for 50% of our total generation portfolio, down from 57% in Dec 2025. Attributable capacity 6,171 MW 5,451 40 Magat BESS 2 (8 MW) 4,736 660 Bay BESS (20 MW) 12 4,482 660 673 3,972 12 252 307 3,494 3,495 - 47 290 427 Olongapo
Slide 19: Steady progress across our renewable energy pipeline
Power Generation 8 MW Magat BESS 2 Steady progress across our Commissioned May 2026 12 MW Magat BESS 1 Commissioned Jan 2024 renewable energy pipeline 95 MWp (75 MWac) Cayanga Solar 846MW* (683 MWac) of the initial renewable energy 20 MW Ambuklao BESS Energized Oct 2023 Q2 2027 pipeline are operatin
Slide 20: 1H26 beneficial EBITDA grew by 27% YoY
AboitizPower 1H26 beneficial EBITDA grew by 27% YoY The Generation segment, which accounted for 90% of beneficial EBITDA, was the primary driver of this growth. The 30% YoY increase in the Generation segment’s EBITDA was due to higher Beneficial EBITDA margins resulting from: PHPb 1H25 1H26 • increa
Slide 21: Double-digit growth in Total Energy Sold
Power Generation Double-digit growth in Total Energy Sold Energy volumes sold through BCQs rose 17% year-on-year in 1H26, bringing contracted volumes to 85% of total energy sales for the period. As of June 2026, ~90% of our baseload capacity is under contract. Total energy sold GWh 5,789 GWh 22,764
Slide 22: Gross profit in 1H26 grew by 23% YoY
Power Generation Gross profit in 1H26 grew by 23% YoY Despite higher generation and purchased power costs, gross profit in the Power Generation segment increased to PHP 41.7b, driven by higher sales volumes and stronger energy market prices. Gross Profit PHPm 1H25 1H26 The average gross profit per T
Slide 23: One of the leading retail electricity suppliers
Retail Electricity Supply One of the leading retail electricity suppliers AboitizPower’s RES segment continues to be the biggest supplier, with a market share of 27% as of the latest CREM Report. AP RES Market Share Customer Type* MW Agriculture Utilities 2% AP Others 3% 27% 16% Residential 0% Suppl
Slide 24: Power sales from the DU segment rose by 6% YoY
Distribution Utility Power sales from the DU segment rose by 6% YoY Despite higher energy sales, EBITDA contribution from the Distribution segment declined by 3% to PHP4.3b as topline gains were offset by the early incurrence of expenses. Volume sales GWh; beneficial basis 6,927 6,631 6,157 5,785 5,
Slide 25: 1H26 NIAT 45% higher YoY
AboitizPower 1H26 NIAT 45% higher YoY Strong EBITDA translated into NIAT of PHP18.4b, significantly higher by 45%. NIAT PHPm 1H25 1H26 10,606 43,325 9,253 34,099 10,454 8,684 4,239 18,026 18,422 3,068 13,094 12,667 EBITDA Net interest expense Net interest expenseDepreciation and Amortization and Amo
Slide 26: M&A-driven increase in leveraging
AboitizPower M&A-driven increase in leveraging Even with incremental borrowings for AboitizPower’s investments in Chromite, CBK and its renewable energy expansions, net debt to equity remains manageable at 1.17x. PHPm CONSOLIDATED 31 Dec 2025 30 Jun 2026 Cash and Cash Equivalents 58,932 62,658 Inves
Slide 27: Consistent dividend payout
AboitizPower Consistent dividend payout Consistent with its dividend policy, AboitizPower has declared regular dividends of PHP1.35 per share, along with a special dividend of PHP 0.93 per share , implying a yield of 5.2%. Dividend Yield ₱2.50 7.0% PHP per share 6.1% 5.2% 5.7% 6.0% ₱2.00 4.9% 0.93 5
Slide 28: UnionBank is a universal bank providing commercial products and services
UNIONBANK Strictly private and confidential UnionBank is a universal bank providing commercial products and services. • Domestic asset market share of 4.2% based on consolidated assets base of PHP1.2tn • Domestic network of 383 branches, 423 on-site and 171 off-site ATMs • Retail customer base of 18
Slide 29: UnionBank's financial highlights
UNIONBANK Strictly private and confidential UnionBank’s financial highlights Strong presence in the retail segment drives net interest income growth. Net interest income NIAT 64.2 58.0 52.0 38.9 33.7 29.8 12.6 12.7 12.0 9.2 10.0 6.9 FY21 FY22 FY23 FY24 FY25 1H26 29
Slide 30: Sustained revenues driven by customer expansion and healthy margins
UNIONBANK Sustained revenues driven by customer expansion and healthy margins Customer Growth Net Interest Margin (in #, Mn) 8% YoY 34 bps 19.3 6.6% 6.5% 6.9% 18.6 17.9 6.1% 17.0 5.5% 14.8 4.8% 12.1 4.6% 10.2 4.6% Industry* 2021 2022 2023 2024 2025 6M25 6M26 2021 2022 2023 2024 2025 6M25 6M26 Net Re
Slide 31: UnionBank 1H26 net income at P6.9 Bn
UNIONBANK UnionBank 1H26 net income at P6.9 Bn First half net income ended at P6.9Bn, up 113% YoY Growth was driven by expansion in consumer lending, increase in CASA, and fee income from wealth and bancassurance Parent Bank sustained its performance and accounted for 96% of Group profit Net Income
Slide 32: NIM expansion driven by lower funding costs
UNIONBANK NIM expansion driven by lower funding costs Net Interest Income Net Interest Margin (in PHP, Bn) Cost NIM Yield YoY 8% YoY 8.7% 8.7% 8.7% 8.7% 8.6% 8bps 33.7 31.3 6.5% 6.6% 6.6% 6.9% 6.9% 34bps 2.2% 2.1% 2.1% 1.8% 1.8% 42bps 1% QoQ 6M25 9M25 FY25 3M26 6M26 Annualized Year-to-Date 16.7 16.8
Slide 33: Credit Cards drive loan growth
UNIONBANK Credit Cards drive loan growth Gross Loans, OSB Loan Mix (in PHP, Bn) Industry’s Consumer Loans ~ 23% Based on 3M26 BSP Data Institutional Retail (Parent) CSB, UD, Other Subs 8% YoY 2% QoQ Cards, 25% 565 577 550 Consumer, 532 533 Institutional, 39% YoY 61% Salary Loans, 18% 131 135 125 Mor
Slide 34: Improving trend in cost to income ratio
UNIONBANK Improving trend in cost to income ratio Operating Expense Cost-to-income Ratio (in PHP, Bn) 6% YoY 24.8 23.4 59% 59% 58% 57% 57% 2% QoQ 12.1 12.4 12.5 12.3 11.8 2Q25 3Q25 4Q25 1Q26 2Q26 6M25 6M26 6M25 9M25 FY25 3M26 6M26 Quarter-to-Date Year-to-Date Annualized Year-to-Date 34
Slide 35: Stable credit costs
UNIONBANK Stable credit costs Credit Cost – Annualized (Year-to-date) Parent Subsidiaries 4.3% 10bps 3.9% 3.8% 0.9% 0.8% 3.2% 3.3% 1.2% 0.5% 0.6% 3.4% 3.1% 2.7% 2.7% 2.7% 6M25 9M25 FY25 3M26 6M26 35
Slide 36: Sufficient capital ratios to support asset growth
UNIONBANK Sufficient capital ratios to support asset growth Common Equity Tier 1 Capital Ratio Group (CET1) Common Equity Tier 1 Capital Ratio Parent (CET1) 14.9% 15.1% 15.0% 14.9% 15.1% 15.0% 14.5% 13.7% 13.9% 14.0% Regulatory Regulatory Minimum Minimum 8.5% 8.5% 6M25 9M25 FY25 3M26 6M26 6M25 9M25
Slide 37: AboitizFoods' financial highlights
AboitizFoods AboitizFoods’ financial highlights Earnings recovery is mainly driven by softening commodity prices. EBITDA NIAT 9.9 EBITDA, at segment level PHPb FY21 FY22 FY23 FY24 FY25 1H26 Agribusiness 3.2 3.6 3.8 5.8 6.3 3.7 Food & Nutrition 1.6 0.7 -0.1 1.7 3.3 1.0 7.8 Others 0.2 0.3 737 0.3 0.2
Slide 38: AboitizFoods
AboitizFoods AboitizFoods — = ae = | Foo igo abaga piltdico e }NewaRano EXISTING pilsico arb BRAND Livestoric Livestoric Feed Safety Hard Wheat Live Hogs Categories Poultry Poultry Immunity Soft Wheat Carcass Aqua Aqua Digestibility Specialty Eggs Gamefowl Ruminant Farm Management Songbird Premix Ca
Slide 39: 19% revenue growth, anchored by Agribusiness and Trading resilience
AboitizFoods 19% revenue growth, anchored by Agribusiness and Trading resilience Consolidated 1H revenue reached PHP 51.6 billion (+19% YoY), supported by a 13% expansion in overall group volumes led by regional Agribusiness and Trading. Food & Nutrition revenue eased 3% YoY, as volume gains in Trad
Slide 40: EBITDA Performance: Core segment growth buffers downstream losses
AboitizFoods EBITDA Performance: Core segment growth buffers downstream losses Consolidated 1H EBITDA stood at PHP 4.7 billion (+9% YoY). Strong operational performance in regional Agribusiness (+31% YoY), Trading (3.6x YoY), and Flour (+13% YoY) absorbed severe margin compression and reduced revenu
Slide 41: 1H NIAT closes at PHP 2.3B (+8% YoY)
AboitizFoods Building on EBITDA strength: 1H NIAT closes at PHP 2.3B (+8% YoY) Supported by EBITDA growth, 1H NIAT closed at PHP 2.3 billion (+8% YoY). Net results were further supported by a 2% YoY reduction in interest expense, reflecting disciplined working capital management across regional busi
Slide 42: From Integration to Acceleration: The Next Chapter of the Aboitiz Real Estate Group
Aboitiz Real Estate Group From Integration to Acceleration: The Next Chapter of the Aboitiz Real Estate Group Integration creates a clearer competitive edge Trust & Credibility Ecosystem Advantage as a reliable partner to enables communities where industry, industries and communities people service
Slide 43: Diversified portfolio of real estate solutions under a unified platform
Aboitiz Real Estate Group Diversified portfolio of real estate solutions under Industrial Lots a unified platform for Sale Commercial Leasing Commercial Lots for Sale Industrial Residential Residential Leasing Leasing Units for Sale 43
Slide 44: 1H26 Results Highlights
1H26 Results Highlights 1H26 Results ● The consolidated real estate business recorded a net PHPm loss of PHP 37 million in 1H26, compared to a PHP 4 million loss in 1H25, as lower Economic Estates (EE) 1H25 1H26 earnings offset a strong turnaround in the Residential 2,230 1,981 business ● Higher-qua
Slide 45: EE leasing ramp-up and higher quality RFO-led residential sales
Aboitiz Real Estate Group EE leasing ramp-up and higher quality RFO-led residential sales cushioned the base effect from lower EE sales recognition in 1H26 Consolidated revenue declined 11% in 1H26, primarily driven by a 79% decrease in EE sales due to the timing of milestone -based revenue recognit
Slide 46: Industrial reservation sales up 97% in 1H26
Aboitiz Real Estate Group Industrial reservation sales up 97% in 1H26, highlighting a flight to quality amidst a volatile operating environment Economic Estates Reservation Sales PHPm and hectares in PHPm 1H25 1H26 Var 18 ha 110 Industrial 1,090 2,152 97% 9 ha 6 ha 9 ha Commercial 238 110 -54% 4 ha
Slide 47: Stronger residential earnings offset by EE sales recognition timing
Aboitiz Real Estate Group Stronger residential earnings offset by EE sales recognition timing Consolidated EBITDA declined 10% YoY, primarily due to a 27% decline in Economic Estates EBITDA from the timing of milestone -based revenue recognition, partially offset by a 26% increase in Residential EBI
Slide 48: Residential: From strong delivery of existing projects to Estate-integrated growth
Aboitiz Real Estate Group Residential: From strong delivery of existing projects to Estate-integrated growth, completing the end-to-end township ecosystem Near-term priority: Focused delivery and Next chapter: Expanding housing solutions successful completion of existing projects within the Economic
Slide 49: LIMA: From Industrial Hub to Industry-Anchored Township
Aboitiz Real Estate Group LIMA: From Industrial Hub to Industry-Anchored Township, sustained locator activity driving CBD emergence LIMA Industrial Hub LIMA BizHub 31 active locators Batangas’ 1st CBD powered by industry Higher operating locator count is expected to drive jobs, foot traffic, and acr
Slide 50: From LIMA to TARI: Scaling a proven Industry-Anchored Township platform
Aboitiz Real Estate Group From LIMA to TARI: Scaling a proven Industry-Anchored Township platform into the next growth frontier in the North Bookending the Luzon Economic Corridor, the EE platform is positioned to capture demand from established manufacturers in the South and the emerging industrial
Slide 51: TARI: From Plan to Execution
Aboitiz Real Estate Group TARI: From Plan to Execution – Anchor Investments, On-Ground Activity, and Footprint Expansion Accelerating Momentum Anchor Locator Construction JV Expansion Enabling Infrastructure Coke and Ajinomoto in House of Investment Main spine road full swing construction JV agreeme
Slide 52: AIC continues to grow across key infrastructure sectors
Aboitiz InfraCapital AIC continues to grow across key infrastructure sectors 1.2M pax Passenger Traffic 4.8M pax 1.7M pax Domestic Traffic International Traffic +7% Yo Y 114% of 2019 le vels +18 % Yo Y 89 % of 2019 lev els 1.0M pax Passenger Traffic ~350k June 2026 Households served Total Tenancies*
Slide 53: Consistent top-line growth across all business segments
Aboitiz InfraCapital Consistent top-line growth across all business segments Airports anchored overall growth, complemented by steady performance across water and digital infrastructure segments Revenue PHPm 1H25 1H26 YoY Remarks PHPm Airports 2,422 3,353 38% Overall foot traffic rose 4% YoY in 1H26
Slide 54: Beneficial EBITDA rose to PHP2.5b in 1H26
Aboitiz InfraCapital Beneficial EBITDA rose to PHP2.5b in 1H26 EBITDA growth tracked top-line momentum, achieving strong margins at 54% EBITDA PHPm 1H25 1H26 2,501 Reflects 17% YoY increase in MCIA traffic 1,980 1,633 1,377 Growth attributed to Driven by effective ongoing tower cost controls expansi
Slide 55: Earnings momentum fueled by strong revenue growth
Aboitiz InfraCapital Earnings momentum fueled by strong revenue growth Strong operational performance in 1H26 narrowed the net loss by nearly half (-48% YoY) NIAT PHPm 1H25 1H26 51 -54 -93 -84 -144 -147 -162 -183 -278 -536 Airports Water Digital Infra Corporate expenses Total Note: Consolidated figu
Slide 56: CCEAP's reported revenue grew by 11% YoY
CCEAP CCEAP’s reported revenue grew by 11% YoY Revenue growth in 1H26 was supported by volume growth and the flow-through of price increases implemented last year. 77% market share Carbonated soft drinks • Growth momentum was mainly driven by the 8% YoY growth in volumes. By brand, Coca-Cola Tradema
Slide 57: Together we are building the Philippines' first techglomerate
aboitiz | 2) e12028 - Together we are building the Philippines’ first techglomerate
Aboitiz Equity Ventures — Investor Presentation (July 2026) on 6ix