Slide 1: Cover letter to Philippine Stock Exchange
November 11, 2013 PHILIPPINE STOCK EXCHANGE, INC. Disclosure Department 3rd Floor, Philippine Stock Exchange Center Ayala Triangle, Ayala Avenue Makati City Attention: Ms. Janet A. Encarnacion Head, Disclosure Department Subject: SMC Investors’ Briefing for the 2013 Third Quarter Results Gentlemen:
Slide 2: San Miguel Corporation 2013 September YTD Results
Slide 3: Updates
Slide 4: TF and SMC ownership structure before the property dividend
TF and SMC ownership structure before the property dividend SMC SMC owned 49% of the common shares (240,196,000) TF These shares will be distributed by SMC to its common shareholders on record as of November 5, 2013, through a 51% property dividend ’ Others / Privado Public 15.5% 18.4% 66.1% 100%
Slide 5: TF and SMC ownership structure after the property dividend
TF and SMC ownership structure after the property dividend Major Others/ Shareholders Public 86.1 13.9% t | Top Others / Privado : 66,1% | 15.5% 18.4% 100%
Slide 6: Agreement to Manage ECO
Agreement to Mana; ECO } ¢ Signed concession agreement to manage Albay Electric Cooperative last October 29 ; * First flight to Abu Dhabi last October 1 Inaugural flight to London last November 4
Slide 7: Consolidated Financial Highlights
Consolidated Financial Highlights As of September 2013 in billion pesos 2013 2012 Change Net Sales 542.6 508.7 7% Income from Operations 46.0 36.8 25% Net Income before foreign exchange 111 97 15% gains/losses and non-recurring items Foreign exchange gains (losses) (12.3) 7.6 Net Income attributable
Slide 8: San Miguel Brewery Inc.
San Miguel Brewery Inc. As of September 2013 In million pesos 2013 2012 Change Net Sales 53,624 53,849 0% Income from Operations 15,371 15,410 0% Volume (mil cases) 147.6 164.0 -10%
Slide 9: Ginebra San Miguel Inc. Quarter-on-Quarter Performance
Ginebra San Miguel Inc. 2013 Quarter-on-Quarter Performance Revenues (P m) growth Operating (P m) Income growth Volumes (cases) growth
Slide 10: Ginebra San Miguel Inc.
Ginebra San Miguel Inc. As of September 2013 In million pesos 2013 2012 Change Net Sales 9,911 10,478 -5% Income from Operations (869) (302) -188% Volume (mil cases) 14.7 17.8 -17%
Slide 11: San Miguel Pure Foods Co., Inc.
San Miguel Pure Foods Co., Inc. As of September 2013 In million pesos 2013 2012 Change Net Sales 71,413 69,354 3% Income from Operations 3,667 3,220 14% Net Income attributable to equity holders of 2,748 2,921 -6% parent company
Slide 12: San Miguel Pure Foods: Commodity Businesses
San Miguel Pure Foods Co., Inc. COMMODITY BUSINESSES (Feeds, Poultry and Fresh Meats and Flour) 2013 January-September In million Pesos Revenue Operating Income S 2,704 ole * _— eeu $4,536 2,381 @9M2012 #9M2013 9M 2012 @ 9M 2013
Slide 13: San Miguel Pure Foods: Branded Value-Added Businesses
San Miguel Pure Foods Co., Inc. BRANDED VALUE-ADDED BUSINESSES (Processed Meats, Dairy and Coffee) 2013 January-September In million Pesos Revenue Operating Income 714 9M 2012 &9M 2023 @9M 2012 9M 2013
Slide 14: San Miguel Pure Foods Co., Inc.
San Miguel Pure Foods Co., Inc.
Slide 15: San Miguel Yamamura Packaging
San Miguel Yamamura Packaging As of September 2013 In million pesos 2013 2012 Change Net Sales 17,714 17,927 -1% Income from Operations 1,785 1,644 9%
Slide 16: SMC Global Power Holdings Corp.
SMC Global Power Holdings Corp. As of September 2013 In million pesos 2013 2012 Change Net Sales 55,060 57,351 -4% Income from Operations 15,765 13,851 14% Offtake Volume (GWH) 12,533 12,165 3%
Slide 17: Petron Corp.
Petron Corp. As of September 2013 In million pesos 2013 2012 Change Net Sales 335,933 307,341 9% Income from Operations 8,860 6,007 47% Net Income before 9, minority interest 4,358 559 679% Volumes (‘000 barrels) 60,246 53,156 13%
Slide 18: RMP2: Refinery Upgrade
RMP2: REFINERY UPGRADE * 90% complete as of Sept 2013 * Capex Spent; USD1.8B + Target Commercial Operation: 4Q2014 _—— SERVICE STATION EXPANSION * 2,136 stations as of end Sept 2013 * ~350 additional stations under different stages of PETRON MALAYSIA UPGRADE * Rebranded almost 50% of 555 stations
Slide 19: Tarlac-Pangasinan-La Union Expressway
TARLAC — PANGASINAN — LA UNION EXPRESSWAY TPLEX > Phase 1A opened last October 31 > Phase 1A features: Tarlac City to Victoria then to Gerona, Tarlac *Length: 17 km, * Cuts travel time to Baguio by ~40 mins.
Slide 20: Financial Position
Financial Position TOTAL ASSETS © P.1,164.7 billion l CASH BALANCE * P:179.3 billion INTEREST-BEARING DEBT ¢ P 449.9 billion CURRENT RATIO ¢1.51x LL DEBT-TO-EQUITY RATIO °2.11x \ INTEREST-BEARING-DEBT-TO- EQUITY RATIO © 1.20x NET DEBT TO 12-MONTH ROLLING EBITDA |» 3.19x \
Slide 21: Thank you!