San Miguel Corporation · PSE:SMC

San Miguel — FY2022 Earnings Presentation

17 slides from San Miguel's earnings presentation, Mar 16, 2023

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

   C01975-2023 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) Mar 16, 2023 2. SEC Identification Number 31171 3. BIR Tax Identification No. 000-168-801

2. Slide 2: PSE Disclosure Form 4-30 - Material Information

   PCOR SERIES E BONDS DUE 2025 (IN MIL 9,000 PESO) PCOR SERIES F BONDS DUE 2027 (IN MIL 9,000 PESO) TOTAL DEBT AS OF DEC 31, 2022 (IN MIL 244,947 PESO-CONSO) 11. Indicate the item numbers reported herein Item 9 The Exchange does not warrant and holds no responsibility for the veracity of the facts and

3. Slide 3: Filed on behalf by

   Filed on behalf by: Name Jhoanna Jasmine Javier-Elacio Designation OIC General Counsel, Corporate Secretary and Compliance Officer

4. Slide 4: Letter to Philippine Stock Exchange, March 16, 2023

   March 16, 2023 PHILIPPINE STOCK EXCHANGE, INC. Disclosure Department 6" Floor, PSE Tower 5“ Avenue corner 28" Street Bonifacio Global City, Taguig City Attention: Ms. Alexandra D. Tom Wong Officer-in-Charge, Disclosure Department PHILIPPINE DEALING & EXCHANGE CORP. 29" Floor, BDO Equitable Tower 875

5. Slide 5: Analysts' Briefing

   San Miguel Corporation Analysts' Briefing

6. Slide 6: San Miguel Corporation

   San Miguel Corporation Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 1,506,591 941,193 60% INCOME FROM 134,533 121,899 10% OPERATIONS NET INCOME 26,760 48,159 -44% NET INCOME excluding Forex and 43,216 47,042 -8% CREATE Law EBITDA 165,007 160,942 3%

7. Slide 7: San Miguel Food and Beverage, Inc.

   San Miguel Food and Beverage, Inc. Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 358,853 309,778 16% INCOME FROM 48,711 43,695 11% OPERATIONS NET INCOME 34,665 31,417 10%

8. Slide 8: San Miguel Brewery Inc.

   San Miguel Brewery Inc. (a Division of San Miguel Food and Beverage, Inc.) Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 136,235 116,286 17% INCOME FROM 29,516 26,915 10% OPERATIONS NET INCOME 21,750 20,449 6%

9. Slide 9: Ginebra San Miguel Inc.

   Ginebra San Miguel Inc. (a Division of San Miguel Food and Beverage, Inc.) Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 47,341 42,534 11% INCOME FROM 5,987 5,293 13% OPERATIONS NET INCOME 4,547 4,179 9%

10. Slide 10: San Miguel Foods

    San Miguel Foods (a Division of San Miguel Food and Beverage, Inc.) Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 175,288 150,970 16% INCOME FROM 13,270 11,506 15% OPERATIONS NET INCOME 9,218 7,610 21%

11. Slide 11: San Miguel Foods

    San Miguel Foods (a Division of San Miguel Food and Beverage, Inc.) Full-year 2022 1 Feeds and veterinary medicine 2 Poultry and fresh meats

12. Slide 12: San Miguel Packaging Group

    San Miguel Packaging Group Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 37,039 33,703 10% INCOME FROM 1,648 1,162 42% OPERATIONS

13. Slide 13: San Miguel Global Power Holdings Corp.

    San Miguel Global Power Holdings Corp. Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 221,389 133,710 66% INCOME FROM 28,886 36,841 -22% OPERATIONS NET INCOME 3,134 15,978 -80%

14. Slide 14: Petron Corp.

    Petron Corp. Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 857,638 438,057 96% INCOME FROM 19,213 17,215 12% OPERATIONS NET INCOME 6,697 6,136 9%

15. Slide 15: SMC Infrastructure

    SMC Infrastructure Full-year 2022 (IN MILLION PESOS) FY2022 FY2021 CHANGE% NET SALES 29,008 19,690 47% INCOME FROM 14,244 6,788 110% OPERATIONS

16. Slide 16: SMC Financial Position

    SMC Financial Position Full-year 2022 (In Bil Php) As of December 2022 As of December 2021 Total Assets 2,392 2,052 Cash 318 300 Interest-bearing debt 1,356 1,005 3.39x 2.74x 2.74x 2.01x 2.12x 1.47x 1.36x 1.50x 1.22x 0.90x Current Ratio Total Liabilities to Equity Interest-bearing Debt to EBITDA-to-

17. Slide 17: Thank you!

    Thank you! SMCInvestorRelations@sanmiguel.com.ph w w w. s a n m i g u e l . c o m . p h 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. s m f b . 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 p o w e r. c o m . p h

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