MPIC delivers strong first half performance and sharpens growth focus

Improved financial and operational performance across MPIC's portfolio drove a 18% increase in contribution from operations to ₱17.5 billion, fueled by robust growth in Meralco's power generation business, the implementation of higher tariffs at Maynilad, and rising patient volumes across the Metro Pacific Hospitals network.

Among the Company's core businesses, Power continued to contribute the largest share at

₱11.2 billion or 64% of Net Operating Income ("NOI"). In comparison, Water and Toll Roads contributed ₱3.8 billion and ₱3.3 billion, respectively, representing 41% of NOI.

Reported Net Income surged 36% to ₱17.0 billion from ₱12.5 billion, driven by the gain from the sale of MPIC's oil storage company, Philippine Coastal Storage and Pipeline Corporation.

STAND-ALONE PERFORMANCE OF CORE OPERATING COMPANIES

POWER MERALCO

Financial and Operational Highlights

• Revenue increased 3%, primarily reflecting higher pass-through charges, increased distribution utility volumes and retail electricity sales, as well as improved power generation revenues from the reserve market and enhanced plant availability. The rise in pass-through charges reflects higher generation costs, mainly due to elevated prices of natural gas and LNG.

• Consolidated Core Net Income grew by 10% to ₱25.5 billion, supported by stronger

  contributions from both the power generation and DU businesses.

  WATER MAYNILAD

  Financial and Operational Highlights

• Revenues grew 11% to ₱18.4 billion, reflecting the impact of an 8% tariff increase implemented in early January 2025.

• Core Net Income rose 23% to ₱7.4 billion, driven by lower operating expenses and lower taxes.

  TOLL ROADS

  METRO PACIFIC TOLLWAYS CORPORATION ("MPTC")

  Financial and Operational Highlights

• Toll Revenues rose 18% to ₱18.1 billion due to a combination of toll rate increases and traffic growth in the Philippines.

• Average daily vehicle entries

  • Philippines - up 4% to 722,018

  • Indonesia - flat at 1,632,697

  • Vietnam - declined 5% to 74,374

• Core Net Income rose 6% to ₱3.5 billion, supported by the increased shareholding in NLEX, and partly offset by higher financing costs.

• Reported Net Income increased just 3% to ₱3.5 billion, as the prior year benefited from the reversal of contingent considerations related to the Jakarta-Cikampek Elevated Toll Road acquisition.

  BALANCE SHEET HIGHLIGHTS - MPIC PARENT

• Cash and cash equivalents and short-term investments amounted to ₱5.9 billion down from

  ₱11.5 billion at end-2024.

• Net debt amounted to ₱51.4 billion versus ₱61.5 billion as of December 2024.

CONCLUSION

"Our performance in the first half of the year reflects the continued resilience and strength of our businesses. We've seen meaningful contributions from power, water, and toll roads-sectors that are fundamental to the country's development," said MPIC Chairman, President, and CEO Manuel

V. Pangilinan.

"Beyond financial performance, we are sharpening our focus on long-term value creation by scaling investments in areas where we can make the greatest impact-energy, food security, and inclusive infrastructure. The momentum is encouraging, and we intend to continue building on it."

This press release may contain "forward-looking statements," which are subject to risks and uncertainties that could affect MPIC's business and results of operations. Although MPIC believes that expectations reflected in any forward-looking statements are reasonable, it cannot guarantee future performance, action, or events.

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