2Q/1H 2017 Analysts’ Briefing8 August 2017 | The Globe Tower BGC

Performance Highlights: Record revenues and EBITDA driven by data services. NIATimpacted by higher depreciation and interest charges.

• Record revenues again led by data-relatedrevenues.62.9

Service Revenues

Php billion

1H17

+5%YoY

2Q17

31.8Service Revenues

Php billion

+6%vs.

2Q16

• Record EBITDA driven by recordrevenues, overcoming increases inoperating expenses.

27.3EBITDA

Php billion

+6%YoY 13.9

EBITDA

Php billion

+11%vs.

2Q16

• Lower NIAT due to higher depreciationand interest expenses.8.7

Normalized NIAT 1

Php billion

-4%YoY 4.5

Normalized NIAT 1

Php billion

-3%vs.

2Q16

2

22.753Q17 Cash Dividend

/sh+3%

vs.

2Q16

• Record date on August 22, 2017• Payment date on September 6, 2017

1 Excludes SMC-related charges for comparability

Revenue growth led by Mobile and Home Broadband

Mobile Home Broadband

Fixed Line Voice

Corporate Data

Total

Δ1H17 +5% +8% +3% -5% +5%

3• Beginning 2017, Globe to report prepaid subscribers which excludethose who do not reload within 90 days of the second expiry periodversus the previous cut-off of 120 days.

• Increase in subscriber base due to strong gross acquisitionsin fixed wireless segment

+8%-3%61.3million

59.7million

Mobile Subscribers Home Broadband Subscribers

2Q16 2Q17

1.14million

2Q16 2Q17

1.23million

Postpaid Prepaid TM Wireless Wired

Δ2Q17 +8% +7% -1% -8% +6%

Petabytes

50%

Data-related services now account for 53% of total service revenues

Home BroadbandIn Php Billions

Corporate DataIn Php Billions

Mobile DataIn Php Billions

Total Data Revenues as a Percentage of Total Service Revenues

53%

1H16 1H17 280Petabytes

+85%

Mobile Data Users as a % of Mobile Subscribers

Mobile Data Traffic1H171H16

55%1H171H16

Non-Data Revenues Data Revenues

20.3

*Normalized to account for the impact of revenue allocation rules

7.7 5.0+24%* +8% +3%

4

151

44% +11 ppts

17.920.3

1H16 1H17Jan-16

May-16

Jun-16

Jul-16 Apr-17

May-17

Jun-17

Paid

Free……

+1125%Paid FB volume

End of Globe Prepaid’s free Facebook offer

+13%

+24%Normalized MDS growth

End of TM’s free Facebook

offer

• Period of adjustment following end of Free FB promotionfollowed by an increase in paid traffic

• Paid traffic increased significantly from January 2016 giventhe shift in usage habits of consumers

• MDS revenues grew 13% on reported revenues butnormalized MDS growth at 24%

• Normalized MDS growth more reflective of thestate of the MDS business

On a normalized basis, mobile data revenues would have grown by 24% year on year.

Facebook Traffic Mobile DataIn Php Billions

New products, events and initiatives that enrich the Filipino digital lifestyle.

6

Globe’s SEA-US Cable system to go commercial this August

Never miss out on online fun with Globe GoWiFi Auto

Globe #StreamFest highlights new GoBIG data plans

Globe LIVE brings Newsies, West Side Story to Manila

Create. The Rush Within. With Globe entertainment packs

Watch longer, whenever withGoWATCH29 on GoSURF50

Financial Highlights

6M17

Reported

6M16

ReportedYoY %

VTI

Impact

(6M17)

6M17

NormalizedYoY% 2Q17 1Q17

Gross Service Revenues 62,901 59,872 5% 62,901 5% 31,779 31,122

*OPEX & Subsidy (35,642) (34,274) 4% (35,642) 4% (17,836) (17,806)

EBITDA 27,259 25,598 6% 27,259 6% 13,943 13,316

EBITDA Margin 43% 43% 44% 43%

Depreciation (13,067) (11,458) 14% (13,067) 14% (6,630) (6,437)

EBIT 14,192 14,140 - 14,192 - 7,313 6,879

Non-Operating Charges (2,477) (1,353) 83% (727) (1,750) 29% (1,157) (1,320)

Provision for Income Tax (3,627) (3,813) -5% 161 (3,788) -1% (1,829) (1,798)

Net Income 8,088 8,974 -10% (567) 8,655 -4% 4,327 3,761

**Core Net Income 7,974 8,837 -10% (567) 8,541 -3% 4,293 3,681

* OPEX & Subsidy includes interconnect charges.** Core Net Income excludes forex, mark-to-market gains and losses, and non-recurring items.

Consolidated Financial Highlights: Record revenues and EBITDA but higher operatingand non-operating expenses, and depreciation resulted in lower NIAT and Core NIAT.

8

• Decline in 2Q17 non-operating charges stems from lower equity in net loss related to SMC transactiondue to reduced losses in the joint venture and reversals of previous accruals for spectrum amortization.

25,598

27,259

3,029 583

-

822

- - -

827 1,129

818

6M16EBITDA

Inc. inRevenues

Dec. inInterconnect

Charges

Inc. in StaffCosts

Dec. inMarketing &

Subsidy

Inc. inNetworkCosts

Inc. inProvisions,Services &

Other OPEX

6M17EBITDA

+6%YoY

Change in EBITDA

In Php Millions

9

Record EBITDA on the back of record revenues partially offset by higher operatingexpenses

QoQChange in

EBITDAIn Php Millions

13,316

13,943 -

657 52

271

-

-

60

217 75

-

1Q17 EBITDA Inc. inRevenues

Inc. inInterconnect

Charges

Dec. in StaffCosts

Dec. inMarketing &

Subsidy

Inc. in NetworkCosts

Inc. inProvisions,Services &

Other OPEX

2Q17 EBITDA

+5%

8,974 8,088 8,655

1,661

186 567

1,609 1,124

6M16 ReportedNet Income

Change inEBITDA

Inc inDepreciation

Inc in Non-operatingExpenses

Dec in Tax 6M17 ReportedNet Income

SMC Impact 6M17Normalized Net

Income

Reported NIAT lower by 10% year on year as increases in depreciation and non-operating charges negated record EBITDA; on a normalized basis NIAT lower by 4%year on year.

YoY Change in Reported

Net IncomeIn Php Millions

10

-10%

-4%

QoQChange in Reported

Net IncomeIn Php Millions

3,761

4,327

657 163 30 193 31

1Q17 NetIncome

Inc. in Revenues Inc. in OPEX Inc. inDepreciation

Dec. in Non-operatingexpenses

Inc. in Tax 2Q17 NetIncome

+15%

21.2

32.1

36.7

27.5

2014 2015 2016 6M17

* Based on FX rate of Php49.72

Capital expenditures at approximately Php27.5 billion or USD553million*,with 87% related to data requirements

Capex* In Php Billions

11

15% 15% 15% 11% 6%

15% 10% 8% 10%6%

36%27% 30%

14%1%

35%49% 48%

65%87%

2013 2014 2015 2016 6M17

Business Support Others Core Data

Capex Breakdown

37.0

2Q17 Roll-out Updates

1,133LTE SITES

~150KHOME BROADBAND SUBSCRIBER LINES

+

1.512.15 2.44

2015 2016 6M17

Following payment of the final tranche of the SMC transaction in 2Q17, debtlevels remain within covenant ratios.

Gross Debt In Php Millions

Gross D/E RatioCovenant = 2.5:1

Gross Debt/EBITDACovenant = 3:1

12

Cash Dividend per Common Share:

Php 22.75

Record Date: August 22, 2017

Payment Date: September 6, 2017

3Q17 Dividends

72,229 105,729

123,578

2015 2016 6M17

1.221.67

1.89

2015 2016 6M17

C R E A T E . W O N D E R F U L .

Appendix 1Historical Consolidated Gross / Net Service Revenues and EBITDA Margin

14

(In Million Pesos) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

Mobile 21,635 22,826 23,052 23,730 23,148 22,779 22,577 23,753 23,799 24,520

Mobile Voice 9,191 9,556 9,315 9,065 8,181 8,471 8,752 8,662 7,901 8,322

Mobile SMS 6,807 6,757 6,641 6,192 5,763 5,577 5,704 6,155 5,930 5,860

Mobile Data 5,636 6,513 7,096 8,472 9,203 8,731 8,121 8,936 9,968 10,338

Fixed Line & Broadband 4,585 4,784 6,475 6,593 6,856 7,089 7,079 7,308 7,323 7,259

Home Broadband 2,300 2,419 3,127 3,474 3,534 3,615 3,738 3,793 3,844 3,882

Corporate Data 1,543 1,603 2,349 2,204 2,367 2,496 2,443 2,567 2,541 2,481

Fixed Line Voice 742 762 999 916 955 978 898 949 938 896

Total 26,220 27,610 29,527 30,323 30,004 29,868 29,656 31,061 31,122 31,779

EBITDA 11,043 11,672 12,073 11,174 13,067 12,531 11,912 12,468 13,315 13,944

EBITDA Margin 42% 42% 41% 37% 44% 42% 40% 40% 43% 44%

(In Million Pesos) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

Net Service Revenues 24,162 25,438 27,565 28,084 27,689 27,537 27,423 28,933 29,065 29,662

Interconnection Settlement

Costs2,057 2,173 1,962 2,238 2,316 2,330 2,233 2,129 2,057 2,117

2015 2016

2014 2015 2016

2017

CONSOLIDATED SERVICE REVENUES

Appendix 2Mobile Subscribers, Net Adds, Churn Rates and Gross ARPUs

15

Subscribers 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

Globe Postpaid 2,458,045 2,517,215 2,561,290 2,597,027 2,564,148 2,521,218 2,508,800 2,489,719 2,467,069 2,460,671

Globe Prepaid 22,214,373 23,287,012 24,391,990 25,915,096 25,452,193 27,381,884 29,409,827 28,433,793 26,678,674 27,696,014

TM 23,745,018 25,195,520 26,130,002 27,670,555 29,249,341 31,408,346 33,444,153 31,875,346 29,434,517 29,565,407

Total 48,417,436 50,999,747 53,083,282 56,182,678 57,265,682 61,311,448 65,362,780 62,798,858 58,580,260 59,722,092

Net Adds 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

Globe Postpaid 9,361 59,170 44,075 35,737 (32,879) (42,930) (12,418) (19,081) (22,650) (6,398)

Globe Prepaid 1,071,443 1,072,639 1,104,978 1,523,106 (462,903) 1,929,691 2,027,943 (976,034) (1,755,119) 1,017,340

TM 1,248,151 1,450,502 934,482 1,540,553 1,578,786 2,159,005 2,035,807 (1,568,807) (2,440,829) 130,890

Total 2,328,955 2,582,311 2,083,535 3,099,396 1,083,004 4,045,766 4,051,332 (2,563,922) (4,218,598) 1,141,832

Churn Rate 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

Globe Postpaid 3.5% 2.9% 3.3% 3.2% 3.7% 3.7% 3.1% 2.8% 2.8% 2.5%

Globe Prepaid 5.9% 6.2% 6.1% 5.2% 7.7% 5.7% 5.3% 8.2% 10.0% 6.8%

TM 6.7% 6.6% 6.8% 6.1% 6.1% 6.0% 5.2% 8.8% 10.5% 7.5%

Blended 6.1% 6.2% 6.3% 5.5% 6.7% 5.8% 5.2% 8.3% 9.9% 7.0%

Gross ARPU 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

Globe Postpaid 1,116 1,130 1,088 1,122 1,105 1,123 1,143 1,168 1,158 1,177

Globe Prepaid 128 130 124 117 116 109 99 104 111 119

TM 74 76 73 70 65 61 57 60 64 68

Blended 153 154 146 141 136 128 119 123 130 138

HOME BROADBAND 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

Revenues 2,300 2,420 3,126 3,474 3,534 3,615 3,738 3,793 3,844 3,881

Subscribers 779,590 826,001 1,026,466 1,068,920 1,101,189 1,136,608 1,147,951 1,130,750 1,191,261 1,229,573

Gross Adds 100,387 111,152 139,094 137,417 144,543 158,130 159,041 144,515 157,401 156,396

Churn Rate 2.7% 2.7% 3.6% 3.5% 3.4% 3.6% 4.2% 4.7% 2.9% 3.3%

2017

2017

2017

2017

20172015

2015

2015

2015

2015

2016

2016

2016

2016

2016

Appendix 3Reconciliation of Net Income to Core Net Income

(in Million Pesos) 2Q17 2Q16 % Change 1Q17 % Change

Reported Net Income After Tax 4,327 4,639 -7% 3,761 15%

Deferred Tax on Unexercised

Stock Options8 (7) -224% (44) -118%

Add (deduct) Forex loss (gain) (60) 27 -325% (64) -6%

Other Adjustments – (including

acc. depreciation)18 (8) -325% 28 -36%

Core Net Income 4,293 4,651 -8% 3,681 17%

16