San Miguel Corporation · PSE:SMC

San Miguel — FY2021 Earnings Presentation

19 slides from San Miguel's earnings presentation, Mar 10, 2022

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

   C01575-2022 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 10, 2022 2. SEC Identification Number 31171 3. BIR Tax Identification No. 000-168-801

2. Slide 2: PSE Disclosure Form: Analysts' Briefing Materials

   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, 2021 (IN MIL 211,841 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 an

3. Slide 3: Filed on behalf by

   Filed on behalf by: Name Jhoanna Jasmine Javier-Elacio Designation Legal Manager and Assistant Corporate Secretary

4. Slide 4: Letter to PSE: SMC Analysts' Briefing for 2021 Full-Year Results

   March 10, 2022 PHILIPPINE STOCK EXCHANGE, INC. Disclosure Department 6th Floor, PSE Tower 5th Avenue corner 28th Street Bonifacio Global City, Taguig City Attention: Ms.Janet A. Encarnacion Head, Disclosure Department PHILIPPINE DEALING & EXCHANGE CORP. 29th Floor, BDO Equitable Tower 8751 Paseo de

5. Slide 5: Analysts' Briefing 2021 Full-Year Results

   ANALYSTS’ BRIEFING 2021 FULL-YEAR RESULTS March 10, 2022

6. Slide 6: San Miguel Corporation

   SAN MIGUEL CORPORATION FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 941,193 725,797 30% -8% Income from Operations 117,152 71,476 64% 1% Net Income 48,159 21,879 120% -1 EBITDA 160,942 125,929 28% -2% 2

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

   SAN MIGUEL FOOD AND BEVERAGE, INC. FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 309,777 279,290 11% 0% Income from Operations 43,694 33,412 31% -8% Net Income 31,417 22,401 40% -3% 3

8. Slide 8: San Miguel Brewery Inc.

   SAN MIGUEL BREWERY INC. (a Division of San Miguel Food and Beverage, Inc.) FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 116,286 107,928 8% -18% Income from Operations 26,915 24,467 10% -30% Net Income 20,449 17,455 17% -25% 4

9. Slide 9: Ginebra San Miguel Inc.

   GINEBRA SAN MIGUEL INC. (a Division of San Miguel Food and Beverage, Inc.) FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 42,534 36,202 17% 46% Income from Operations 5,293 3,806 39% 84% Net Income 4,179 2,757 52% 150% 5

10. Slide 10: San Miguel Foods

    SAN MIGUEL FOODS (a Division of San Miguel Food and Beverage, Inc.) FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 150,970 135,170 12% 8% Income from Operations 11,506 5,185 122% 85% Net Income 7,610 2,871 165% 121% 6

11. Slide 11: San Miguel Foods

    SAN MIGUEL FOODS (a Division of San Miguel Food and Beverage, Inc.) FULL-YEAR 2021 FLOUR MILLING ANIMAL NUTRITION AND HEALTH1 PROTEIN2 PREPARED AND PACKAGED FOOD Dairy, Spreads and Coffee Refrigerated and Canned Meats 1 Feeds and veterinary medicine 2 Poultry and fresh meats 7

12. Slide 12: San Miguel Packaging Group

    SAN MIGUEL PACKAGING GROUP FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 33,703 31,504 7% -11% Income from Operations 1,162 961 21% -68% 8

13. Slide 13: SMC Global Power Holdings Corp.

    SMC GLOBAL POWER HOLDINGS CORP. FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 133,710 115,029 16% -1% Income from Operations 31,886 36,923 -14% -11% Net Income 15,978 18,874 -15% 11% 9

14. Slide 14: Petron Corporation

    PETRON CORPORATION FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 438,057 286,033 53% -15% Income from Operations 17,215 (4,629) 472% 6% Net Income 6,136 (11,413) 154% 166% 10

15. Slide 15: SMC Infrastructure

    SMC INFRASTRUCTURE FULL-YEAR 2021 IN MILLION CHANGE CHANGE 2021 2020 PESOS vs 2020 vs 2019 Net Sales 19,690 14,565 35% -16% Income from Operations 6,788 2,571 164% -41% 11

16. Slide 16: Recent Developments

    SAN MIGUEL CORPORATION FULL-YEAR 2021 RECENT DEVELOPMENTS - SMC successfully listed on the PDEx its P30 billion 5-year and 7-year fixed rate peso denominated bonds Series J and Series K with coupon rate of 5.2704% and 5.8434% respectively - the first tranche of SMC’s P60 billion fixed rate bondsshel

17. Slide 17: SMC Financial Position

    SMC FINANCIAL POSITION FULL-YEAR 2021 IN BILLION PESOS 2021 2020 Total Assets 2,052 1,912 Cash 300 347 Interest –bearing Debt 1,005 908 3.39x 1.92x 2.44x 1.60x 2.01x 1.39x 1.36x 1.47x 0.90x 0.71x Current Ratio Total Liabilities to Interest-bearing Debt EBITDA-to-Total Net Debt-to-Total Equity Ratio

18. Slide 18: ESG Projects

    SAN MIGUEL CORPORATION FULL-YEAR 2021 ESG PROJECTS PASIG RIVER AND PROTECT METRO MANILA OLD TULLAHAN RIVER CLEANUP MANGROVE FOREST COASTAL CLEANUP REFORESTATION VACCINATION * Source: https://www.sanmiguel.com.ph/ 14

19. Slide 19: Thank You

    THANK YOU. For any additional queries, you may email: SMCInvestorRelations@sanmiguel.com.ph VISIT OUR WEBSITES CONTACT US AT INVESTOR RELATIONS San Miguel Corporation - www.sanmiguel.com.ph SMC +632 8632 3422/+632 8632 3423 San Miguel Brewery Inc. - www.sanmiguelbrewery.com.ph SMFB +632 8632 3417 Pe

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