Gt Capital Holdings, Inc. · PSE:GTCAP

Gt Capital — Maybank Philippines Corporate Access Day 2023

46 slides from Gt Capital's conference presentation, Jan 17, 2023

  1. Slide 1: Investor Presentation

    Investor Presentation For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph

  2. Slide 2: Macroeconomic Overview

    GT Strength in —=@— Adaptability GT CAPITAL HOLOINGS INCORZORATED Macroeconomic Overview

  3. Slide 3: Macroeconomic Overview: PHL economy exceeded expectations in 2022

    Macroeconomic Overview PHL economy exceeded expectations in 2022 GDP GDP Quarterly (%YoY) GDP expected to match 2019 levels 12.0 FY22 Est. New Prev. 7.6% 3Q 2022 5.6 5.5 6.0 6.4 7.8 8.2 7.5 7.6 Bloomberg 6.9% 6.7% Consensus vs. 6.2% estimate 6.9 5.6% FY 2021 MBT Research 6.8% 6.8% 6.1% FY 2019 -0.7

  4. Slide 4: Philippine economy continues to recover

    Philippine economy continues to recover 2022 • Economic reopening, higher mobility, and return to normalcy Growth • 3Q GDP grew 7.6% despite macroeconomic headwinds (rising momentum inflation and foreign exchange volatility) sustained • 3rd fastest GDP growth in ASEAN • Consensus PH FY22 GDP at 6.7%

  5. Slide 5: PHL economy continues to recover

    Macroeconomic Overview PHL economy continues to recover GDP GDP Quarterly (%YoY) GDP expected to match 2019 levels 12.0 FY22 Est. New Prev. 7.6% 3Q 2022 5.6 5.5 6.0 6.4 7.8 8.2 7.5 7.6 Bloomberg 6.9% 6.7% Consensus vs. 6.2% estimate 6.9 5.6% FY 2021 MBT Research 6.8% 6.8% 6.1% FY 2019 -0.7 -3.9 6.0%

  6. Slide 6: PHL economy continues to recover: remittances and BPO

    Macroeconomic Overview PHL economy continues to recover OFW USD B %YoY OFW remittance expected to maintain growth in FY 2022 Remittances 3.1% 10.3% 4.4% 3.2% 2.3% 3.4% 3.3% (In USD B) 9.1 9.2 9.4 FY22 Est. USD %YoY 8.5 8.2 8.7 8.4 USD29.7B 10M 2022, +3.9%YoY 3.2 BSP 36.3B +4% USD34.9B FY 2021, +5.1%

  7. Slide 7: Headwinds amidst the recovery

    Macroeconomic Overview Headwinds amidst the recovery Inflation PH Inflation US Inflation CPI expected to ease Institution FY23 Est. BSP 4.5% 5.82% 9.1% FY 2022 Average 8.5% 8.6% Bloomberg Consensus 4.5% 8.3% 8.5% 8.2% 8.1% 7.5% 7.9% 8.3% 7.7% MBT Research 4% -6% Elevated due to: 7.7% 8.0% • Supply c

  8. Slide 8: Headwinds amidst the recovery: interest rates

    5.50% 4.50% Rate -9% FY 2022 Fed Funds Rate: +425 bps YTD +350 bps YTD BSP Key Policy Rate: USD-PHP Key Policy Rate (%) 0.00 1.00 2.00 3.00 4.00 5.00 6.00 Jan 01, 2014 Feb 12, 2014 Mar 26, 2014 May 07, 2014 3.50 0.25 Jun 18, 2014 Jul 30, 2014 Sep 10, 2014 Oct 22, 2014 Headwinds amidst the recovery D

  9. Slide 9: 2022 USDPHP Movement

    2022 USDPHP Movement USD-PHP Rate 1Q 2022 2Q 2022 3Q 2022 4Q 2022 Average: 51.531 Average: 52.709 Average: 56.433 Average: 57.261 -9% 60 Oct 13 (peak): 59.00 FY 2022 58 2022 FX Movement 56 USDPHP Rate Monthly FX Average 54 Dec 29: 55.755 Jan 51.193 Jul 55.897 Feb 51.255 Aug 55.790 52 Mar 52.080 Sep

  10. Slide 10: Consolidated Financial Highlights

    Consolidated Financial Highlights

  11. Slide 11: GT Capital Financial Highlights 9M 2022

    GT Capital Financial Highlights 9M 2022 Core Php11.3 Billion +41% Consolidated Php15.0 Billion1 +72% Net Income Php8.1 Billion 2021 YoY Net Income Php8.7 Billion 2021 YoY 1. Includes P3.8B FLI’s gain on investment in FNG JV Share in Operating Revenues Revenues Gross Premium Core Income Revenues P82.

  12. Slide 12: Exceeding Previous Year's Performance

    Exceeding Previous Year’s Performance Core Net 2020 2021 2022 Income 9M 2022 9Months 2022 > FY 2021 11.0 11.3 7.4 8.1 8.1 5.8 +41% 2.8 3.2 3.7 3.4 4.0 vs. 9M 2021 3M 6M 9M FY 3M 6M 9M FY 3M 6M 9M Consolidated 2020 2021 2022 Net Income 9M 2022 9Months 2022 > FY 2021 15.0 8.7 11.0 8.3 +72% 2.5 2.7 3.2

  13. Slide 13: GT Capital Gradually Approaching Pre-COVID Levels

    GT Capital Gradually Approaching Pre-COVID Levels • Group recorded significant gains despite macroeconomic headwinds • 9M 2022 Net Income growth across key businesses: Metrobank +45%, TMP Looking back (core) +7%, Federal Land +365%, AXA -18%, MPIC +25% 9M 2022 • Approaching 2019 pre-Covid earnings l

  14. Slide 14: GT Capital Income Contribution

    GT Capital Income Contribution 18,430 Figures in Php M, except percentages 962 5% 2,182 12% Others 11,918 4,209 23%* Infra 709 6% 1,979 17% Property 8% 2,371 13% 904 Auto 2,336 20% 47% Banking 50% 8,706 5,990 9M 2021 9M 2022 Banking + Auto = 70 % Banking + Auto = 60% *Includes Gain on investment in

  15. Slide 15: Component Company Highlights

    Component Company Highlights

  16. Slide 16: Financial Highlights

    Financial Highlights

  17. Slide 17: Summary of Key Messages

    Summary of Key Messages • Loan growth at +12% equal to 1.57x GDP, improving margins (3.7% NIM), healthy fee income (+12%), and stable operating costs (54.5% CIR) • Net Interest Income at 74% of OI, up from 72% YoY • Digital metrics continuously growing (1.4 million users; 86% active rate) • Lower pr

  18. Slide 18: Industry Highlights

    Industry Highlights

  19. Slide 19: Residential Supply and Demand 9M 2022

    Residential Supply and Demand 9M 2022 Metro Manila Residential Condominium Supply and Demand Residential Demand Mix High End Luxury (over Php12M) Launches (Supply) Pre-sales (Demand) Upscale (Php7-12M) 60,000 Middle Income (Php2.3-7M) 54K Lower Middle (Php1.4-2.3M) 53K 50,000 2% 42K43K 42K 23% 40,00

  20. Slide 20: Office Supply and Demand 9M 2022

    Office Supply and Demand 9M 2022 Metro Manila Office Supply, Demand, Vacancy Rate Office Demand Mix BPO POGO Others Office Supply (Incremental) Office Take-up (Incremental) Vacancy Rate (Cumulative) 15.6% 17.9% 18.0% 3.0% 6.0% 5.3% 4.9% 40% 0.69M 1.2 1.1 1.1 sqm 1.0 9M 2022 57% 1.0 0.9 0.9 0.91 0.8

  21. Slide 21: Financial Highlights

    (\FEDERAL LAND Capital Holdings hs ‘ > > > a > > GT CAPITAL HOLDINGS INCORPORATED

  22. Slide 22: Federal Land Financial Highlights 9M 2022

    Federal Land Financial Highlights 9M 2022 Monthly Reservation Sales (Php M) Reservation Sales Mix High End Luxury (over Php12M) 6 launches in 2019 2022 2021 2019 Upscale (Php7-12M) (4 in 4Q19) Middle Income (Php2.3-7M) 3,380 Lower Middle Income (Php1.4-2.3M) Aki 3,067 11% 2% Launch 2,384 2,501 2,495

  23. Slide 23: Summary of Key Messages

    Summary of Key Messages • Reservation sales grew by +73% to Php13.7B • Driven by JV projects in BGC • Equitized earnings from joint ventures of Php 849M +732% • Improved collections boosted total revenue to Php12.4B +62% • Net Income improved by +365% to Php4.2B from gain on FNG investment • MITSUKO

  24. Slide 24: Financial Highlights

    Financial Highlights

  25. Slide 25: AXA Financial Highlights 9M 2022

    AXA Financial Highlights 9M 2022 Life APE Product Mix (In %) Key Messages UL 76% UL 71% Life 1% 1% RP-UL • Volatility in capital markets impaired unit-linked 34% 21% 42% P&H sales 50% SP-UL • Reinstatement of surrendered policies partially 28% 23% Others offset losses • Newly launched AXA Gain Fund

  26. Slide 26: Financial Highlights

    METRO PACIFIC es INVESTMENTS Financial Highlights | GT CAPITAL HOLDINGS INCORPORATED 26

  27. Slide 27: MPIC Financial Highlights 9M 2022

    MPIC Financial Highlights 9M 2022 Key Messages • MPIC: 9M 2022 Core Income increased by 25% to Php11.8 billion driven by improved traffic Meralco Metro Pacific Tollways and power consumption Energy Sales PH Average Daily Traffic • Meralco: Increase in Core Income was driven by 36,553 GWh +6% 563k +2

  28. Slide 28: Financial Highlights

    Financial Highlights a, GT CAPITAL HOLDINGS INCORPORATED

  29. Slide 29: Key Highlights – 9M 2022

    Key Highlights – 9M 2022 Revenues Outpacing the Auto Industry P133.4B +41% Industry Monthly Retail Vehicle Sales (In ‘000 Units) 9M 2022 Retail Vehicle Sales 2022 2021 2019 Net Income 32.0 245,656 29.8 29.6 P4.4B 83% 28.8 28.1 unch* Units in 9M 2022 26.6 *Excl. TSR Sale in 2021, Net Income +7% 24.5

  30. Slide 30: Auto Industry vs TMP Sales Volume

    Auto Industry vs TMP Sales Volume Outpacing the Auto Industry Industry Monthly Retail Vehicle Sales (In ‘000 Units) 11M 2022 Retail Vehicle Sales 2022 2021 2019 32.0 311,407 Units 29.8 28.8 29.6 31.6 34.2 84% 26.6 28.1 11M 2022 24.5 25.3 +23.6%YoY 20.9 of 11M 2019 vs. 252,001 11M 2021 Jan Feb Mar Ap

  31. Slide 31: Toyota remains dominant

    Toyota remains dominant Overall Market Share as of 9M 2022 50.8% in 9M 2022 9M 2022 9M 2021 45.8% No.1 No.1 No.1 Passenger Commercial Overall Car Sales Vehicle Sales Sales 14.6% 6.6% 6.5% 5.9% 5.0% 4.2% 3.3% 1.5% 0.5% 0.5% 0.4% 0.2% Mitsubishi Ford Nissan Suzuki Isuzu Honda Others Kia Mazda Hyundai

  32. Slide 32: Toyota CKD Model Performance 9M 2022

    Toyota CKD Model Performance 9M 2022 Toyota CKD Models CKD/CBU Mix 9M 2022 -2% Stable production capacity in Toyota Sta. Rosa CKD CBU CBU CKD YoY Sales Decline Assembly Plant 28% 65% 35,902 48,904 72% Subcompact PC units to assemble units assembled Segment Share 9M 2022 FY2022 Plan 9M 2022 9M 2022 -

  33. Slide 33: TMP and LMI Hybrid Models

    TMP and LMI Hybrid Models Hybrid 23% of total 9M22 vs. 14% FY21 IS 300h 58% 9M22 vs. 52% FY21 RX 450h RAV4 2.5L HEV CVT CAMRY 2.5V HEV 20% 9M22 99% 9M22 (launched Feb) 100% 9M22 vs. 94% Dec. ’21 vs. 29% FY21 NX 300h COROLLA ALTIS 1.8 V CVT COROLLA CROSS HV 69% 9M22 8% 9M22 vs. 9% FY21 45% 9M22 vs. 4

  34. Slide 34: Toyota and Lexus HEV sales

    Toyota and Lexus HEV sales Toyota HEV Sales as % of Total Sales Lexus HEV Sales as % of Total Sales 0.6% 1.0% 35% 0.3% 0.5% 15% 14% 10% Toyota HEV Unit Sales Lexus HEV Unit Sales +158% +264% +147% 1830 306 +75% +222% 709 92 89 287 48 84 2019 2020 2021 2022 2019 2020 2021 2022 ©2022 GT Capital Invest

  35. Slide 35: Toyota and Lexus HEV sales

    Toyota and Lexus HEV sales Toyota+Lexus HEV Market Share 85% 89% 95% 70% Auto Industry HEV Unit Sales *estimate +262% Toyota Lexus Others 3,050* 914 306 +123% +76% 843 378 1830 214 709 2019 2020 2021 2022 ©2022 GT Capital Investor Relations

  36. Slide 36: The road to electrification

    | The road to electrification may be seen as a three-legged journey involving the government, the automotive industry and the consumers. ¢ Building appropriate infrastructure * Creating products and services * Choosing electric vehicles TMC Global EV BZ4X BEV Strategy Battery Electric Vehicle Hybrid

  37. Slide 37: Automotive Sector: Summary of Key Messages

    Automotive Sector Summary of Key Messages • TMP outperformed the auto market with sales of 124,884 units +35.3% (vs +21.9% industry) • Retained its market leadership with 50.8% share • TMP implemented price increases and reduced sales promotion expenses to preserve margins • Despite supply disruptio

  38. Slide 38: Moving Forward

    GT Strength in 44 Adaptability GT CAPITAL HOLOINGS INCORZORATED Moving Forward

  39. Slide 39: MITSUKOSHI BGC

    MITSUKOSHI BGC ©2022 GT Capital Investor Relations 39

  40. Slide 40: Developments on track for launch

    Developments on track for launch CALAX Riverpark North Lancaster Interchange and Lancaster Riverpark GT Interchange along Interchange CALAX to open in 2023 • Area size: 100 hectares (42 hectares to be developed by SM Group) • Uses: Mall, school, residences Riverpark South Daang • Launch: 1Q 2024 Har

  41. Slide 41: Federal Land NRE Global

    Federal Land NRE Global 66% Php32B (property and cash) over next 2 years • Strategic partnership with NRE Php16B cash • Largest real estate developer in Japan in over next 2 years 34% terms of condo unit turnover in 2021 • Fifth largest in consolidated sales • NRE’s largest investment outside Japan

  42. Slide 42: Enhanced ESG Practices

    Enhanced ESG Practices ESG RATINGS PERFORMANCE S&P CSA Sustainalytics MSCI ESG 37 14.2 (Low Risk) BBB (Average) • Improving our ESG Disclosures by adopting and aligning to Global sustainability reporting standards and frameworks such as Integrated Reporting, SASB, and TCFD in addition to GRI • Used

  43. Slide 43: The Priority SDGs of GT Capital

    The Priority SDGs of GT Capital 18,000+ Employees across Federal Land NRE Global Inc., to develop 100- In 2022, GTCAP started to measure GHG GT Capital Group. hectare Japanese “smart city” in Cavite. emissions in alignment with GHG Protocol – international standard for GHG accounting. TMP’s ₱5.58 Bi

  44. Slide 44: Strategies Moving Forward

    Strategies Moving Forward • Organic growth of our core businesses. We are in sectors that are essential to economic growth • Entry into new sectors. We are actively searching for underpenetrated sectors where we can establish strategic partnerships and market dominance • GT Capital’s objective in it

  45. Slide 45: Our Key Messages

    Our Key Messages • Strong performance in January to September 2022 with core earnings growth of 41% despite the economic headwinds. • On track to realizing the value of our investments in the property segment as the third growth engine. • Pipeline projects on track to be launched • Harvesting gains

  46. Slide 46: Thank You!

    Thank You! For more information, Visit gtcapital.com.ph/investor-relations or contact IR@gtcapital.com.ph

GT Capital Holdings — Maybank Philippines Corporate Access Day 2023 on 6ix