Aboitiz Equity Ventures Inc. · PSE:AEV
Aboitiz Equity Ventures — Investor Presentation (November 2025)
39 slides from Aboitiz Equity Ventures's investor presentation, November 2025
Slide 1: Investor Presentation
Investor Presentation November 2025 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 100% DEVELOPMENT Listed 100% FY24 Equity Investment FY24 Equity Investment FY24 Equity Investment FY24 Equity Investment PHP 32b PHP 49b PHP 14b PHP 108b 45% FY24 Equity Inves
Slide 3: Key milestones and acquisitions
Key milestones and acquisitions Sep 2021 Jul 2014 Sep 2018 AEV and ACO sold 25% AboitizFoods acquired Dec 2016 AboitizFoods and 2% of their stakes Dec 2022 70% of Vinh Hoan Feeds AP acquired 66% of acquired 75% of in AP to JERA for AIC acquired MCIA for PHP25b (1st off shore investment) GMEC and 40%
Slide 4: Key milestones and acquisitions
Key milestones and acquisitions Feb 2024 Sep 2024 Jul 2025 Acquired 40% of CCEAP for AIC was awarded the 30- Thunder Consortium was the ~PHP40b year Laguindingan Airport highest bidder for CBK. Concession Mar 2024 2024 2025 Jul 2025 AP announced plans to acquire 40% of GIP announces plans to Chromit
Slide 5: Diversification strategy
Diversification strategy The Aboitiz Group targets to raise beneficial EBITDA contributions from its non-power subsidiaries to 50% by 2030. 2020 2024 2030 Real Estate, 2% Real Estate, 1% Infra, Infra, 5% 7% Food, 12% Food and Beverage, Banking , 22% Power, Non- Power, 14% Power, Power, 50% 50% 60% 6
Slide 6: Snapshot of subsidiary level performances
Snapshot of subsidiary level performances • NIAT contribution to • NIAT contribution to • AboitizFoods’ and • AIC’s NIAT contribution • Alands’s net income AEV fell to PHP12.5b in AEV declined to CCEAP’s combined reached PHP137m in contribution to AEV 9M25, from PHP14.5b PHP3.2b in 9M25, NIAT contri
Slide 7: 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 64,492 58,671 51,608 49,228 48,907 44,275 26,782 25,512 20,475 22,120 15,911 17,254 FY20 FY21 FY2
Slide 8: 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 full transfer of ownership of MCIA in October 2024. PHPm CONSOLIDATED PHPm PARENT LEVEL 31 Dec 2024 30 Sep 2025 31 Dec 2024 30 Sep 2025 Cash and Cash Equivalents 81,79
Slide 9: Parent level debt is predominantly PHP-denominated, fully fixed and long-term in nature
Parent level debt is predominantly PHP-denominated, fully fixed and long-term in nature AEV’s disciplined management of balance sheet and debt puts it in a strategic position to pursue opportunistic expansion plans and M&A. Parent-level Debt maturity profile PHPb Interest rate 23.1 profile 11.6 14.6
Slide 10: Consistent dividend payout
Consistent dividend payout Our strong core operations enabled us to pay out a higher dividend of PHP1.54/sh, which translates to a dividend yield of 4.6%. Dividends per share 1.80 5.00% 4.64% PHP/sh 1.60 4.50% 4.00% 1.40 3.50% 1.20 2.86% 2.63% 2.72% 3.00% 1.00 2.13% 2.50% 0.80 1.62 1.54 1.47 1.40 2.
Slide 11: Subsidiary Level Updates
SUBSIDIARY LEVEL UPDATES
Slide 12: Group beneficial EBITDA up by 11% YoY
CONSOLIDATED Group beneficial EBITDA up by 11% YoY EBITDA increased due to higher contributions from almost all strategic business units. Beneficial EBITDA PHPb 9M24 9M25 51.1 46.1 Power accounted for 57% of AEV’s beneficial EBITDA in 3Q25 2024 2025 PHPb YoY 29.8 29.9 1Q 2Q 3Q 9M 1Q 2Q 3Q 9M Power 8
Slide 13: NIAT declined by 8% YoY
CONSOLIDATED NIAT declined by 8% YoY Higher depreciation and interest expense from the Power and Infra segments and provisions dragged 9M25 NIAT. NIAT PHPm 68,015 68,039 14,289 17,452 11,306 13,099 23,627 20,233 18,773 17,334 17,254 EBITDA EBITDA Statutory Less: Net Less: Net Interest Less: Interest
Slide 14: 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 Includes PHP14b in provisions, which mostly are from UBP’s exposure to a specific corporate account. 58.0 52.0 47.5 38.9 28.7
Slide 15: Topline growth underpinned by recurring income expansion
UNIONBANK Strictly private and confidential Topline growth underpinned by recurring income expansion Customer Growth Net Interest Margin (in #, Mn) 18.4 17.3 16.6 6.4% 6.0% 5.9% 5.5% 13.9 4.5% 4.6% 4.8% 11.8 8.9 4.4% 11% Industry 7.1 * 51 bps 2020 2021 2022 2023 2024 9M24 9M25 2020 2021 2022 2023 20
Slide 16: UnionBank 9M25 net income at P6.5Bn
UNIONBANK Strictly private and confidential UnionBank 9M25 net income at P6.5Bn On a QoQ basis, results show improving operational performance as credit costs have stabilized UnionBank’s strong focus on the consumer segment continues to drive strong topline growth 9M25 net income is down 24% YoY, du
Slide 17: Expansion in net interest margin mainly driven by lower funding costs
UNIONBANK Strictly private and confidential Expansion in net interest margin mainly driven by lower funding costs Net Interest Income Net Interest Margin (in PHP, Bn) Cost NIM Yield YoY 8.6% 8.6% 8.6% 8.5% 8.5% 11.6% YoY 17bps 47.5 42.6 5.9% 6.0% 6.3% 6.4% 6.4% 51bps 2.8% 2.6% 2.2% 2.1% 2.1% 68bps 7
Slide 18: Net interest income rose by 14%, driven by wider margins
UNIONBANK Strictly private and confidential Net interest income rose by 14%, driven by wider margins Net Interest Income (in PHP, Bn) Net Interest Margin YoY Cost NIM Yield 14% YoY 31.3 8.5% 8.6% 8.6% 8.6% 8.5% 6bps 27.5 5.7% 5.9% 6.0% 6.3% 6.4% 61bps 2.8% 2.8% 2.6% 2.2% 2.1% 67bps 3% QoQ 1H24 9M24
Slide 19: Credit cards, personal and salary loans are driving consumer loan growth
UNIONBANK Strictly private and confidential Credit cards, personal and salary loans are driving consumer loan growth Loan Mix Gross Loans, OSB (in PHP, Bn) Industry’s Consumer Loans ~ 23% Based on 1H25 BSP Data Institutional Retail (Parent) CSB, UD, Other Subs 1.0% YoY 0.4% QoQ Cards, 22% 532 534 Co
Slide 20: OPEX growth driven by volume and IT investments
UNIONBANK Strictly private and confidential OPEX growth driven by volume and IT investments Operating Expense Cost-to-income Ratio (in PHP, Bn) 7.6% YoY 35.5 59% 59% 59% 59% 33.0 57% 5.2% YoY 2.5% QoQ 11.5 11.5 11.8 12.1 11.2 3Q24 4Q24 1Q25 2Q25 3Q25 9M24 9M25 9M24 FY24 3M25 1H25 9M25 Quarter-to-Dat
Slide 21: Credit cost starting to normalize
UNIONBANK Strictly private and confidential Credit cost starting to normalize Credit Cost – Annualized (Year-to-date) Credit Cost – Annualized (Quarter on Quarter) Parent Others Parent Consumer CSB & Other Subs UnionDigital Parent Others Parent Consumer CSB & Other Subs UnionDigital 45bps 4.5% 4.3%
Slide 22: Sufficient Capital Ratios to Support Growth
UNIONBANK Strictly private and confidential Sufficient Capital Ratios to Support Growth Capital Adequacy Ratio Group (CAR) Common Equity Tier 1 Capital Ratio Group (CET1) Common Equity Tier 1 Capital Ratio Parent (CET1) 17.3% 16.6% 15.8% 16.0% 15.6% 15.1% 15.5% 15.1% 14.9% 14.9% 14.6% 14.9% Regulato
Slide 23: AboitizFoods' financial highlights
AboitizFoods AboitizFoods’ financial highlights Earnings recovery is mainly driven by softening commodity prices. EBITDA NIAT EBITDA, at segment level PHPb FY20 FY21 FY22 FY23 FY24 9M25 Agribusiness 4.7 3.2 3.6 3.8 5.8 4.5 7.8 Food & Nutrition 1.3 1.6 0.7 -0.1 1.7 2.2 6.9 Others 0.0 0.2 0.3 737 0.3
Slide 24: 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 25: Broad-based volume growth offset by price normalization
AboitizFoods Broad-based volume growth offset by price normalization The Group delivered 9% year-on-year volume growth across all divisions, while revenue increased 4%, reflecting the impact of price normalization amid sustained demand. Volume Revenue ‘000 MT PHPm 21,126 2,173 87 22,234 206 20,788 1
Slide 26: Margin gains and Meats turnaround support double-digit EBITDA Growth
AboitizFoods Margin gains and Meats turnaround support double-digit EBITDA Growth EBITDA increased 21% year-on-year, supported by stronger consolidated margins and volume growth, with all divisions contributing to the uplift. The Meats business delivered the most notable turnaround, improving from a
Slide 27: Operating gains and financial efficiency contribute to NIAT growth
AboitizFoods Operating gains and financial efficiency contribute to NIAT growth The Group delivered a significant year-on-year improvement in net income, driven by stronger EBITDA performance and improved financial efficiency. All divisions contributed to the uplift, highlighted by a 41x increase in
Slide 28: AboitizLand's financial highlights
AboitizLand AboitizLand’s financial highlights Aland is strategically moderating its expansion in response to the domestic residential sector’s downcycle, positioning itself for stronger growth once market conditions improve. 2.6 EBITDA NIAT 2.1 1.4 1.1 1.1 1.0 1.0 0.9 0.9 0.9 0.7 0.3 FY20 FY21 FY22
Slide 29: Revenue growth driven by the strategic monetization of non-core landbank assets
AboitizLand Revenue growth driven by the strategic monetization of non-core landbank assets Monetization of non-core assets in Cebu contributed PHP 1.7b to 9M25 revenue, while revenue from core operations was impacted by higher forfeitures due to the removal of non-performing accounts, natural inven
Slide 30: EBITDA and NIAT growth driven by non-core asset monetization gains
AboitizLand EBITDA and NIAT growth driven by non-core asset monetization gains, absent in the same period last year EBITDA NIAT PHPm PHPm 1,000 50000000% 1,400 599999.70 1,200 800 40% 40000000% 499999.70 48% 1,000 29% 30000000% 399999.70 600 26% 800 36% 36% 19% 20000000% 29% 29% 299999.70 12% 933 60
Slide 31: Sales performance reflects inventory tapering as projects conclude
AboitizLand Sales performance reflects inventory tapering as projects conclude amid strategic shift Reservation sales declined in 9M25, driven by the deliberate focus on higher-quality sales and reduced inventory in mid-market and high-end segments as projects near completion. Reservation sales PHPm
Slide 32: Leveraging the Economic Estates footprint to drive the next wave of residential growth
AboitizLand Leveraging the Economic Estates footprint to drive the next wave of residential growth As inventories in mature projects taper, Aboitiz Land is shifting toward new residential launches within and around its Economic Estates, leveraging secured land and ecosystem advantages for sustainabl
Slide 33: Aboitiz InfraCapital's financial highlights
Aboitiz InfraCapital Aboitiz InfraCapital’s financial highlights Beneficial Growth is driven by economic estates and airport segments. EBITDA NIAT EBITDA, at segment level PHPb FY22 FY23 FY24 9M25 Economic Estates 1.8 2.7 2.4 1.5 Airports -0.8 2.1 2.5 2.1 Digital Infra 0.0 0.2 0.8 0.6 4.6 Water 0.1
Slide 34: AIC continues to grow across key infrastructure sectors
AIC continues to grow across key infrastructure sectors 330k Jun’25 Households served Land Area Jobs Created Locators 8.2 MLD 250+ 300 MLD Demand 2,000 has 100K+ 250 +1% YoY Customers Includes locators , co mmercial acco unts, Peak Distribution +9% YoY 90 as of Jun’25 as of Jun’25 as of Jun’25 an d
Slide 35: All segments sustained strong growth across portfolios
Aboitiz InfraCapital All segments sustained strong growth across portfolios Revenue more than doubled year-on-year, led by stronger airport operations, higher EE lot sales, and steady growth in Water and Digital Infrastructure PHPm 9M24 9M25 YoY Remarks Revenue AIC assumed full ownership of MCIA on
Slide 36: Beneficial EBITDA reached PHP4.6b as of Q325
Aboitiz InfraCapital Beneficial EBITDA reached PHP4.6b as of Q325 EBITDA growth aligned with revenue momentum, with Airports serving as the primary growth driver. EBITDA PHPm Reflects full contribution from MCIA, vs 33% stake in Uplift due to full Reflects 24has lot 2024 operations of Apo sales vs 6
Slide 37: Positive NIAT Reflects Strong Operating Performance
Aboitiz InfraCapital Positive NIAT Reflects Strong Operating Performance Robust revenue and EBITDA growth drove profitability despite financing costs from capital structure initiatives NIAT PHPm 9m25 Core NIAT is 525m vs -452m last Includes amortization of the year. revaluation of the service conces
Slide 38: CCEAP's reported revenue grew by 3% YoY
CCEAP CCEAP’s reported revenue grew by 3% YoY 3Q25 volumes were broadly flat, reflecting the impact of typhoon related flooding which significantly disrupted distribution during Jul and Aug. 75% market share non-alcoholic sparkling beverage segment • In 9M25, volume growth was sustained at 1.4% YoY
Slide 39: LEVATOR
aboitiz | 2) e202 a Together we are building the Philippines’ first techglomerate
Aboitiz Equity Ventures — Investor Presentation (November 2025) on 6ix