Malls INVESTOR KIT 2019 This presentation is available online through www.smprime.com
Disclaimer This presentation does not constitute a prospectus or other offering memorandum in whole or in part. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company. There shall be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to any qualification under the securities laws of such state or jurisdiction. This presentation has not been and will not be reviewed or approved by any statutory or regulatory authority or any stock exchange in the Philippines or elsewhere. Prospective investors should undertake their own assessment with regard to their investment and they should obtain independent advice on any such investment’s suitability, inherent risks and merits and any tax, legal and accounting implications which it may have for them. This presentation contains statements about future events and expectations that constitute “forward -looking statements. ” These forward-looking statements include words or phrases such as the Company or its management “believes”, “expects”, “anticipates”, “intends”, “may”, “plans”, “foresees”, “targets”, “aims” “would”, “could” or other words or phrases of similar import. Similarly, statements that describe the Company's objectives, plans or goals are also forward-looking statements. All such forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. Such forward-looking statements are made based on management’s current expectations or beliefs as well as assumptions made by, and information currently available to, management. These forward-looking statements speak only as at the date of this presentation and nothing contained in this presentation is or should be relied upon as a promise or representation as to the future. This presentation and the contents hereof are for the exclusive use of the intended recipient(s). This presentation and the contents hereof should not be (i) forwarded or delivered or transmitted in any manner whatsoever, to any other person other than the intended recipient(s); or (ii) reproduced in any manner whatsoever. Any forwarding, distribution or reproduction of this presentation in whole or in part is unauthorized. This presentation must not be distributed to the press or any media organization. By accepting this presentation, the recipient agrees to keep confidential at all times information contained in or made available in connection with this presentation. Neither the Company nor its advisor, nor any of their respective affiliates, shareholders, directors, employees, agents or advisers makes any expressed or implied representations or warranties as to the accuracy and completeness of the information contained herein or any other information (whether communicated in written or oral form) and each of the foregoing parties expressly disclaims any and all responsibility and liability of any kind (including any contractual, non-contractual, or third party liability) for any loss or damage, whether or not arising from any error or omission in compiling such information or as a result of any party’s reliance or use of such information. The information in this presentation has not been independently verified. The information and opinions in this presentation are subject to change without notice, and no obligation is assumed by the Company nor its advisor, nor any of their respective affiliates, shareholders, directors, employees, agents or advisers to provide the recipient(s) with access to any additional information or to update this presentation or to correct any inaccuracies in it which may become apparent. 2 Investor Kit 2019
Outline I. The Company Company Profile • Key Business Units • Malls • Residences • Offices • Hotels & Convention Centers • II. Key Strategies Key Strategies • Landbank • Capex Program • III. Financial Highlights 1H 2019 Results • IV. Sustainability Four Sustainability Pillars • UN SDGs • V. Investment Highlights 3
Company Profile One of the largest integrated property ▶ developers in Southeast Asia by Market Capitalization market capitalization One of the largest listed real estate US$21.02bn ▶ developers on the PSE by market capitalization and net income PSE Stock Symbol SMPH Consistently cited for excellence ▶ in corporate governance, property Market Capitalization PHP1,071bn development, environmental consciousness, and investor relations Outstanding Shares 28,879mn programs Last Traded Price Php37.10/share (June 28, 2019) Average Daily US$9.40mn Turnover (YTD) 4 Investor Kit 2019
Key Business Units Hotels and Malls Residences Commercial Convention Centers ► SM Supermalls ► SM Development ► Offices and ► Radisson Blu Corp. and Warehouses ► SM Lifestyle, Inc. ► Taal Vista Subsidiaries ► Mall of Asia ► Family ► Pico Sands ► Highlands Prime Inc. Complex Entertainment ► Park Inn Center Inc. ► Costa Del Hamilo ► Seaside City Cebu Inc. Complex ► Conrad Manila ► SMX Convention Centers 5 Investor Kit 2019
Key Achievements Malls (GFA in sqm) Residences (Units Sales) CAGR = 5.22% 10M 9.5M 24K 9.3M 9.0M 22K 16.6K 8.2M 20K 8M 7.3M 18K 7.0M CAGR = 23.23% 16.2K 16K 6M 14K 13.5K 8.2M 12K 6.2M 6.5M 7.3M 7.7M 8.0M 9.5K 10K 4M 8.0K 8K 6.0K 6K 4K 2M 2K 0K 1.3M 1.3M 1.3M 0.8M 0.8M 0.9M 0M 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 China Philippines Offices (GFA in sqm) Hotels (Rooms) 700K 1.8K 642K 1,522 CAGR = 6.99% 1.6K 1,510 1,510 600K 1.4K CAGR = 27.85% 1,229 500K 456K 1.2K 1,075 1,015 383K 400K 1.0K 318K 0.8K 300K 0.6K 189K 200K 147K 0.4K 100K 0.2K 0K 0.0K 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 6 Investor Kit 2019
At a Glance MALLS RESIDENCES 1H2019 Operating Highlights 1H2019 Operating Highlights ► Total Revenues reached PHP31.07 billion, up by ► Total Revenues increased by 26% 8%from PHP28.71 billion to PHP21.43 billion from PHP17.05 billion ► Operating Income grew by 9% to PHP17.28 billion ► Operating Income went up by 43% to PHP8.10 billion from PHP15.90 billion from PHP5.67 billion ► Total Investment Properties of PHP270.89 billion ► Total Assets amounted to PHP204.65 billion HOTELS AND OFFICES CONVENTION CENTERS 1H2019 Operating Highlights 1H2019 Operating Highlights ► Total Revenues increased by 31% to PHP2.18 billion ► Total Revenues is flat at PHP2.45 billion from PHP1.66 billion ► Operating Income went down by 9% to PHP525 ► Operating Income went up by 29% to PHP1.82 billion million from PHP579 million from PHP1.41 billion ► Total Investment Properties of PHP11.07 billion ► Total Investment Properties amounted to PHP40.21 billion 7 Investor Kit 2019
Malls (as of 1H2019) Revenue PHP31.07 bn Operating Income PHP17.28 bn Gross Floor Area 9.7 m sqm Malls 72 in PH & 7 in CH
Malls Malls Key Business Units CHINA PHILIPPINES 72 7 Malls Malls 8.4M sqm 1.3M sqm Total GFA Total GFA 18,519 1,916 Tenants Tenants Average Daily Average Daily 4.2M 0.2M Pedestrian Count Pedestrian Count 330 58 Cinema Screens Cinema Screens 90,739 15,534 Parking Slots Parking Slots SM Prime is the largest mall operator/developer in the Philippines. 9 Investor Kit 2019
Malls Malls Key Business Units Philippine Population: 101M Philippine Malls Luzon: In terms of GFA, Metro Manila ▶ 38 Malls malls account for 42%, Luzon is 36%, Visayas is 13% and Mindanao is 8% NCR: 23 Malls Average mature mall occupancy ▶ rate is 95% Visayas: Overall Same-Mall-Sales-Growth 6 Malls ▶ (SMSG) is 7% year-on-year (YoY) Mindanao: 5 Malls 10 Investor Kit 2019
Malls Key Business Units Mall Coverage in PH Philippine Population: 101M Caloocan (North) Existing Sites Luzon: Valenzuela 45M People (1 Mall) Quezon City Future Sites (5 Malls) Navotas Malabon Caloocan Marikina (1 Mall) (1 Mall) Untapped Area NCR: Manila 13M People (2 Malls) San Juan Mandaluyong Pasig (2 Malls) (2 Malls) Makati Pasay Pateros (2 Malls) Taguig (1 Mall) Visayas: Parañaque (3 Malls) 19M People Las Piñas (2 Malls) Muntinlupa Mindanao: (1 Mall) 24M People SMPH malls covered almost all of the key cities in Metro Manila and adjoining towns and municipalities, accounting for 42% ▶ of the company’s total gross floor area in the Philippines. SMPH mall expansion is geared towards the provinces. The focus is to cover most of Northern Luzon, Visayas and the progressive cities ▶ in Mindanao. 11 Investor Kit 2019
Malls Key Business Units China Malls Operating in China since 2001 and ▶ became part of SM Prime in 2007 SM Xiamen Lifestyle Contributed 5% of the overall revenues ▶ and 5% of consolidated operating income Operates 7 malls with a total GFA of 1.3m ▶ sqm Scheduled to expand SM Xiamen ▶ SM City Tianjin (120,000 sqm) and to start the construction of SM Yangzhou (220,000 sqm) SM City Suzhou 12 Investor Kit 2019
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