Metro Pacific Investments Corp First-Half 2020 Results

1. FIRST HALF 2020 FINANCIAL
RESULTS ANALYSTS’ BRIEFING
05 AUGUST 2020

2. 2
1H 2020 CORE INCOME DECLINED BY 38% TO P5.3 BILLION
Impact of economic contraction from quarantine measures
Decrease in Share of Operating Income was driven by
❑ Reduced traffic on toll roads of Metro Pacific Tollways
(MPTC)
❑ Mandated suspension of light rail services from
March 17 to May 31, 2020
❑ Decreased commercial and industrial demand for
Manila Electric Company (MERALCO) and Maynilad
Water Services (Maynilad)
Lower head office expenses driven by reduced
corporate overhead
Interest was held flat because part of the proceeds from
the hospital sell-down were used to pay-off debt.
Weighted average interest rate as at June 30, 2020 is
6.3% and weighted average debt maturity is 7.3 years
Non-core expenses of ₱2.3 billion in 2020 was primarily
due to the provisioning in full of the carrying value of
MERALCO’s investment in Pacific Light Power
CONSOLIDATED FINANCIAL HIGHLIGHTS
In Millions of Pesos 1H 2020 1H 2019 % Change
MPIC share
Power 5,221 6,062 -14%
Toll Roads 915 2,425 -62%
Water 1,809 2,300 -21%
Light Rail (108) 169 -164%
Others (128) 218 -159%
Share of operating income 7,709 11,174 -31%
Head office expenses (432) (539) -20%
Interest expense (1,940) (1,967) -1%
Core income 5,337 8,668 -38%
Non-core expenses (2,310) (560) 313%
Reported income 3,027 8,108 -63%
In Centavos
Diluted EPS on core income 17 27.48 -38%
Dividend per share 3 3.45 -

3. Water
21%
Power
54%
Toll Roads
22%
Others
3%
Water
23%Power
68%
Toll Roads
12%
Others
-3%
3
EARNINGS CONTRIBUTION MIX
1H 2020 1H 2019
POWER remains to be the largest contributor to earnings. Movement restrictions reduced volumes on our
TOLL ROADS and consequently reduced its contribution.

4. 4
POWER CONTRIBUTION DOWN BY 14% TO P5.2 BILLION
MERALCO – Core Income 14%
❑ 7% decline in energy sales
❑ Higher provisions for doubtful accounts – extended
payment terms increased days sales receivable from
22 days pre-quarantine to 47 as of June 30, bringing
trade receivables to ₱60.3 billion, three times the pre-
quarantine level
In Millions of Pesos
CONTRIBUTION TO MPIC 1H 2020 1H 2019 %
MERALCO (45.5%) 4,814 5,600 -14%
GBPC (62.4%) 709 775 -9%
Beacon/FV and accounting adj. (302) (313) -4%
5,221 6,062 -14%
STAND-ALONE PERFORMANCE 1H 2020 1H 2019 %
Financial Highlights
Revenues 142,254 164,953 -14%
Core EBITDA 15,368 19,879 -23%
Core income 10,588 12,317 -14%
Reported income 6,844 12,007 -43%
Capital expenditure 6,860 10,708 -36%
Key Performance Indicators
Energy sales (in GWh)
Residential 8,115 7,146 14%
Commercial 7,430 8,951 -17%
Industrial 5,523 6,656 -17%
Streetlights 71 70 1%
Total 21,139 22,823 -7%
MERALCO
3,625
3,803
3,451
2,977
3,330
3,953*
Jan Feb Mar Apr May Jun
MERALCO 2020 ENERGY SALES (In GWh)
* Includes catch-up adjustment on previously estimated volumes

5. 5
GLOBAL BUSINESS POWER CORPORATION – Core
Income 9%
In Millions of Pesos
CONTRIBUTION TO MPIC 1H 2020 1H 2019 %
MERALCO (45.5%) 4,814 5,600 -14%
GBPC (62.4%) 709 775 -9%
Beacon/FV and accounting adj. (302) (313) -4%
5,221 6,062 -14%
STAND-ALONE PERFORMANCE 1H 2020 1H 2019 %
Financial Highlights
Revenues 10,768 12,520 -14%
Core EBITDA 4,077 4,592 -11%
Core income 1,136 1,242 -9%
Reported income 1,129 1,130 0%
Capital expenditure 76 557 -86%
Key Performance Indicators
Energy sales (in GWh) 2,436 2,306 6%
GLOBAL BUSINESS POWER CORPORATION (GBPC)
GBPC 2020 ENERGY SALES (In GWh)
381
439 417
393 386
420
Jan Feb Mar Apr May Jun
❑ Revenues declined by 14% despite the 6% increase
in energy sales due to lower pass through fuel
charges reflecting use of lower calorie coal
POWER CONTRIBUTION DOWN BY 14% TO P5.2 BILLION

6. 6
TOLL ROADS CONTRIBUTION DOWN BY 62% TO P915 MILLION
METRO PACIFIC TOLLWAYS CORPORATION –
Core Income 62%
❑ Implementation of various measures (from curfews
to regional lockdowns) to limit movement of people
and vehicles in response to the threat of COVID-19
• Domestic daily vehicle entries averaged
574,100 for the first two months of 2020, an
increase of 14% over the same period last year
but declined to 86,000 a day during ECQ
• Regional average daily vehicle entries declined
29% to 282,145 from 397,258
• 32% decline in average system-wide vehicle
entries to 623,386 from 912,907
❑ Higher interest costs on increased borrowings
In Millions of Pesos
CONTRIBUTION TO MPIC 1H 2020 1H 2019 %
Metro Pacific Tollways (99.9%) 921 2,438 -62%
Fair value adjustments (6) (13) -54%
915 2,425 -62%
STAND-ALONE PERFORMANCE 1H 2020 1H 2019 %
Financial Highlights
Revenues 6,146 8,923 -31%
Core EBITDA 3,784 6,258 -40%
Core income 922 2,440 -62%
Reported income 727 2,195 -67%
Capital expenditure 13,714 10,858 26%
Key Performance Indicators
Average Daily Vehicle Entries
NLEX 182,928 281,465 -35%
CAVITEX 111,762 163,358 -32%
SCTEX 42,232 70,826 -40%
CALAX 4,319 - 100%
DMT / CII / NUS 282,145 397,258 -29%
METRO PACIFIC TOLLWAYS CORPORATION

7. 7
294 298
155
47
99
210
194 195
105
26
45
109
76 73
37
19
40
Jan Feb Mar Apr May Jun
NLEX CAVITEX
CALAX SCTEX564 575
301
83
364
165
397 396
302
162
188
249
Jan Feb Mar Apr May Jun
2020 AVERAGE DAILY TRAFFIC (In Thousands)
REGIONALPHILIPPINES
TOLL ROADS CONTRIBUTION DOWN BY 62% TO P915 MILLION

8. 8
WATER CONTRIBUTION DOWN BY 21% TO P1.8 BILLION
MAYNILAD WATER SERVICES, INC. – Core Income 22%
❑ Slight increase in billed volumes offset by:
• Lower average tariff - Increase in residential demand at
a lower average tariff offset declines in commercial and
industrial segments with the implementation of the
Luzon-wide quarantine
• Higher amortization and depreciation expenses driven
by Maynilad’s heavy investments in Non-Revenue
Water reduction and continuing facilities upgrades
45 45 43 45 45 47
Jan Feb Mar Apr May Jun
2020 BILLED VOLUMES (In MCM)
In Millions of Pesos
CONTRIBUTION TO MPIC 1H 2020 1H 2019 %
Maynilad (52.8%) 1,884 2,428 -22%
Fair value adjustments 1 (102) -101%
Metropac Water Investments Corp. (76) (26) 192%
1,809 2,300 -21%
STAND-ALONE PERFORMANCE 1H 2020 1H 2019 %
Financial Highlights
Revenues 11,416 12,172 -6%
Core EBITDA 8,270 8,825 -6%
Core income 3,569 4,599 -22%
Reported income 3,510 4,557 -23%
Capital expenditure 5,278 5,405 -2%
Key Performance Indicators
Billed volume (In MCM) 269 268 0%
*Non-revenue water % - average 25.1% 26.7% -6%
*Non-revenue water % - period end 24.9% 24.6% 1%
MAYNILAD WATER SERVICES INC.
*measured at the district metered area level

9. 9
LIGHT RAIL CONTRIBUTION DOWN BY 164% TO A LOSS
OF P108 MILLION
In Millions of Pesos
CONTRIBUTION TO MPIC 1H 2020 1H 2019 %
Light Rail Manila (35.8%) (73) 168 -143%
Holding company admin (35) 1 -3600%
(108) 169 -164%
STAND-ALONE 1H 2020 1H 2019 %
Financial Highlights
Farebox revenues 817 1,579 -48%
Core EBITDA (65) 343 -119%
Core income (loss) (175) 306 -157%
Reported income (loss) (173) 296 -158%
Capital expenditure 2,700 3,979 -32%
Key Performance Indicators
Average daily ridership 325,200 446,571 -27%
LIGHT RAIL MANILA CORPORATION
LIGHT RAIL MANILA CORP. – Core Income 157%
❑ Suspension of operations from March 17 to May 31
❑ Operations resumed on June 1 at a reduced capacity of 13% in
compliance with DOTr guidelines
❑ 27% decline in average daily ridership
Recent Development
❑ On May 28, 2020, Sumitomo Corporation of Japan acquired a
34.9% stake in Metro Pacific Light Rail Corporation, MPIC’s
subsidiary that holds an effective 55% stake in LRMC
444 436
358
78
Jan Feb Mar Apr May Jun
NO
OPERATIONS
DUE TO
QUARANTINE
2020 AVERAGE DAILY RIDERSHIP (In Thousands)

10. 10
LOGISTICS, HEALTHCARE AND OTHERS
In Millions of Pesos
CONTRIBUTION TO MPIC 1H 2020 1H 2019 %
Indra Philippines (25.0%) 22 24 -8%
Metropac Movers Inc. (99.1%) (91) (196) 54%
Metro Pacific Hospitals (20.0%) 9 401 -98%
Others (68) (11) -518%
(128) 218 -159%
METROPAC MOVERS – Lower Core Loss in 1H 2020 driven
by:
❑ Various business rationalization activities (e.g. wind-down of
trucking business)
❑ Major warehouses continued to operate during quarantine
METRO PACIFIC HOSPITALS – 98% reduction in contribution
due to:
❑ Sharp drop in the number of patient admissions and
outpatient census
• 30% decrease in outpatient visits to 1,329,451
• 35% decline in inpatient admissions to 61,293
❑ Significant increases in personnel costs & medical
supplies such as personal protective equipment which are
heavily used to ensure stringent health and safety
protocols for employees, healthcare practitioners and
patients

11. 11
BOOSTING PHILIPPINE INFRASTRUCTURE
COMPLETED TOLL ROAD PROJECTS
❑ First sub-section of the Cavite Laguna Expressway
❑ NLEX Harbor Link Malabon Exit and the section
between new Caloocan Interchange, C3 Road/5th
Avenue and the new Navotas Interchange
❑ NLEX Tambobong Interchange in Bocaue, Bulacan
TOLL ROAD PROJECTS UNDER CONSTRUCTION / DEVELOPMENT
Length
Construction
Cost
Target
Completion**
Right-of-way
Progress
(In Km) (In P Billions)*
EXPANSIONS TO EXISTING ROADS
NLEX Lane Widening
(Phase 2)
N/A 2.4 2020 N/A
CAVITEX Segment 4
Extension
1.2 1.5 2023 85%
CAVITEX - C5 South Link 7.8 12.6 2022 75%
NLEX Citi Link 11.5 18.8 2024 0%
STAND-ALONE ROAD PROJECTS
NLEX-SLEX Connector
Road
8.0 17.7 2022 Section 1
Caloocan - 81%
Manila - 58%
Section 2
Manila - 74%
Cebu Cordova Link
Expressway
8.5 27.3 2021 100%
Cavite Laguna Expressway 47.2 21.2 2023 Laguna – 90%
Cavite – 40%
TOTAL 84.2 101.5
*Construction Cost (inclusive of FOE, Security and Other Costs)
**Subject to change arising from the Company’s response to Government measures in addressing the
COVID-19 crisis
OTHER PROJECTS UNDER CONSTRUCTION
❑ Maynilad La Mesa Plant Upgrade
❑ LRT-1 South Extension Project

12. 12
MPIC GROUP VOLUME DASHBOARD
3,625
3,803
3,451
2,977
3,330
3,953 **
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
MERALCO ENERGY SALES
2019 2020
381
439
417
393 386
420
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
GLOBAL BUSINESS POWER
ENERGY SALESIn GWh
In GWh
45
45
43 45 45
47 46 *
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
MAYNILAD BILLED VOLUMES
In MCM
444 436 358
78
92 *
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
LIGHT RAIL MANILA
AVERAGE DAILY RIDERSHIP
In Thousands
294 298
155
47 99
210
268 *
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
North Luzon Expressway
76 73
37
9
19 40 33 *
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Subic-Clark-Tarlac Expressway
194 195
105
26 45 109
134 *
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cavite Expressway
AVERAGE DAILY TRAFFIC
In Thousands
* Latest available data for July
** Includes catch-up adjustment on previously estimated volumes

13. 13
OUTLOOK
ABLE TO SUSTAIN OPERATIONS AMIDST PANDEMIC
❑ MPIC has sufficient cash at the parent level to sustain operations even in a slow economic recovery
• Proceeds of P30.1 billion from hospital deal with KKR in December 2019 and P3.0 billion from sale of stake
in Light Rail business to Sumitomo in May 2020
❑ Maynilad – assumed to be unable to pay dividends pending the outcome of the Concession Agreement
review
❑ MERALCO and Metro Pacific Tollways – likely to pay lower dividends as a result of quarantine measures
and other consequences of the pandemic
CONSERVATIVE DIVIDEND INCOME EXPECTATIONS
❑ Welfare of our people
❑ Service to our customers
❑ Cash preservation while supporting constructions already in progress
❑ Profitability
CLEAR NEAR-TERM PRIORITIES

14. 14
APPENDIX
Condensed Statements of Income
Statements of Financial Position
Other Business Updates

15. 15
MERALCO
CONDENSED STATEMENTS OF INCOME
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019 2Q % 1H%
MERALCO (45.5%) 2,602 2,212 4,814 2,545 3,055 5,600 -28% -14%
GBPC (62.4%) 274 435 709 248 527 775 -17% -9%
Beacon/FV and accounting adj. (6) (296) (302) (103) (210) (313) 41% -4%
CONTRIBUTION TO MPIC 2,870 2,351 5,221 2,690 3,372 6,062 -30% -14%
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019 2Q % 1H%
Electricity 67,911 70,720 138,631 73,632 87,635 161,267 -19% -14%
Non-Electricity 2,118 1,505 3,623 1,746 1,940 3,686 -22% -2%
Total revenues 70,029 72,225 142,254 75,378 89,575 164,953 -19% -14%
Purchased power (51,823) (52,324) (104,147) (58,743) (67,922) (126,665) -23% -18%
Operating expenses (12,069) (15,046) (27,115) (9,777) (13,171) (22,948) 14% 18%
Other income 910 730 1,640 578 284 862 157% 90%
Provision for income tax (1,289) (698) (1,987) (1,805) (2,011) (3,816) -65% -48%
Non-controlling interests (34) (23) (57) (33) (36) (69) -36% -17%
Core income 5,724 4,864 10,588 5,598 6,719 12,317 -28% -14%
Non-core income (expense) (3,105) (639) (3,744) 73 (383) (310) 67% 1108%
Reported net income 2,619 4,225 6,844 5,671 6,336 12,007 -33% -43%
Core EBITDA Computation:
Core income 5,724 4,864 10,588 5,598 6,719 12,317 -28% -14%
Depreciation and amortization 2,080 1,965 4,045 1,878 2,479 4,357 -21% -7%
Interest income -net (374) (193) (567) (550) (375) (925) -49% -39%
Provision for income tax 1,289 698 1,987 1,805 2,011 3,816 -65% -48%
Others (311) (374) (685) 97 217 314 -272% -318%
Core EBITDA 8,408 6,960 15,368 8,828 11,051 19,879 -37% -23%

16. 16
MERALCO
KEY PERFORMANCE INDICATORS
1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019
Number of customer accounts 6.93M 6.94M 6.94M 6.68M 6.74M 6.74M
Capital expenditure (in P MM) 4,152 2,708 6,860 4,339 6,369 10,708
Energy sales
Residential 3,336 4,749 8,115 3,010 4,136 7,146
Commercial 4,343 3,087 7,430 4,124 4,827 8,951
Industrial 3,135 2,388 5,523 3,212 3,444 6,656
Streetlights 35 36 71 35 35 70
Total (in GWh) 10,879 10,260 21,139 10,381 12,442 22,823

17. 17
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019 2Q% 1H%
Power billings 5,535 5,205 10,740 5,740 6,704 12,444 -22% -14%
Coal sales & others 18 10 28 34 42 76 -76% -63%
Total revenues 5,553 5,215 10,768 5,774 6,746 12,520 -23% -14%
Power plant costs (2,516) (2,187) (4,703) (2,931) (3,266) (6,197) -33% -24%
Operating expenses (1,725) (2,040) (3,765) (1,521) (1,660) (3,181) 23% 18%
Interest expense - net (551) (535) (1,086) (545) (533) (1,078) 0% 1%
Other income 8 288 296 14 22 36 1209% 722%
Share in earnings of associates 130 358 488 62 94 156 281% 213%
Provision for income tax (246) (211) (457) (253) (269) (522) -22% -12%
Non-controlling interests (214) (191) (405) (202) (290) (492) -34% -18%
Core income 439 697 1,136 398 844 1,242 -17% -9%
Non-core income (expense) 1 (8) (7) (106) (6) (112) 33% -94%
Reported net income 440 689 1,129 292 838 1,130 -18% 0%
Core EBITDA Computation:
Core income 439 697 1,136 398 844 1,242 -17% -9%
Depreciation and amortization 741 740 1,481 707 707 1,414 5% 5%
Interest expense - net 551 535 1,086 545 533 1,078 0% 1%
Provision for income tax 246 211 457 253 269 522 -22% -12%
Non-controlling interests 214 191 405 202 290 492 -34% -18%
Others (130) (358) (488) (62) (94) (156) 281% 213%
Core EBITDA 2,061 2,016 4,077 2,043 2,549 4,592 -21% -11%
GLOBAL BUSINESS POWER CORPORATION
CONDENSED STATEMENTS OF INCOME

18. 18
1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019
Capital expenditure (in P MM) 47 29 76 71 486 557
Energy sales
Bilateral 948 900 1,848 854 939 1,793
WESM 78 94 172 105 193 298
NGCP 210 206 416 102 113 215
Total (in GWh) 1,236 1,200 2,436 1,061 1,245 2,306
GLOBAL BUSINESS POWER CORPORATION
KEY PERFORMANCE INDICATORS

19. 19
POWER EXPANSION UPDATES
1x500MW (gross) San Buenaventura Power, Quezon
❑ Started commercial operations on September 26, 2019
❑ First operational supercritical coal power plant in the Philippines
❑ Joint venture of MGen with New Growth, B.V., a wholly owned subsidiary of Electricity Generating Public Company Limited of
Thailand
2x600MW (net) Atimonan One Energy, Quezon
❑ Awaiting final terms of reference and will participate in MERALCO’s Competitive Selection Process
❑ Site operation activities gradually resumed early June 2020. More stringent health and safety protocols were put in place to
protect construction workers from COVID-19
50MWac PowerSource First Bulacan Solar San Miguel, Bulacan
❑ Signed EPC contract with SUMEC Complete Equipment & Engineering Co. Ltd. in October 2019
❑ Target commercial operations still within 2020 despite expected delays due to quarantine-driven suspension of construction
activities
❑ Overall progress as of July 13, 2020 stands at 52.73%

20. 20
POWER EXPANSION UPDATES
ENERGY FROM WASTE
Quezon City Waste to Energy Project (P15.3 billion project cost for Phase 1)
❑ Aims to convert approximately 3,000 tons of waste of 36MW (net) of energy
❑ Awaiting issuance of Notice of Award from the Quezon City local government units (LGU)
❑ Waste study completed and expected to be presented to the LGU once the quarantine is lifted
❑ Secured Environmental Compliance Certificate from the DENR-EMB in April 2020
Biogas – Dole Project (P1.0 billion project cost)
❑ Aims to derive biogas from the anaerobic digestion of fruit waste from Dole’s canneries in
South Cotabato
❑ Target to generate 5.7MW of clean energy for Dole and contribute to reduction of CO2
emission by 100,000 tons/year
❑ Approved as a Joint Crediting Mechanism Model Project for carbon reduction and subsidy
by the Ministry of Environment, Japan
❑ Target completion of facilities in 2021

21. 21
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019 2Q% 1H%
Stand-alone Core Income 924 (2) 922 1,121 1,319 2,440 -100% -62%
MPTC (99.9%) 923 (2) 921 1,120 1,318 2,438 -100% -62%
Fair Value Adjustments (5) (1) (6) (7) (6) (13) -83% -54%
Contribution to MPIC 918 (3) 915 1,113 1,312 2,425 -100% -62%
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019 2Q% 1H%
Net toll revenues 4,222 1,924 6,146 4,243 4,680 8,923 -59% -31%
Cost of services (1,614) (1,053) (2,667) (1,602) (1,744) (3,346) -40% -20%
Gross profit 2,608 871 3,479 2,641 2,936 5,577 -70% -38%
Operating expenses (618) (437) (1,055) (660) (533) (1,193) -18% -12%
Other income and expense - net 250 384 634 305 356 661 8% -4%
Share in earnings of associates 129 (7) 122 130 202 332 -103% -63%
Interest expense - net (593) (595) (1,188) (438) (542) (980) 10% 21%
Provision for income tax (503) (129) (632) (418) (643) (1,061) -80% -40%
Non-controlling interest (349) (89) (438) (439) (457) (896) -81% -51%
Core income 924 (2) 922 1,121 1,319 2,440 -100% -62%
Non-core expense (70) (125) (195) (93) (152) (245) -18% -20%
Reported net income 854 (127) 727 1,028 1,167 2,195 -111% -67%
Core EBITDA Computation:
Core income 924 (2) 922 1,121 1,319 2,440 -100% -62%
Depreciation, amortization & others 490 236 726 580 633 1,213 -63% -40%
Interest expense - net 593 595 1,188 438 542 980 10% 21%
Provision for income tax 503 129 632 418 643 1,061 -80% -40%
Non-controlling interest 349 89 438 439 457 896 -81% -51%
Others (129) 7 (122) (130) (202) (332) -103% -63%
Core EBITDA 2,730 1,054 3,784 2,866 3,392 6,258 -69% -40%
METRO PACIFIC TOLLWAYS CORPORATION
CONDENSED STATEMENTS OF INCOME

22. 1Q 2020 2Q 2020 1H 2020
Average Daily Vehicle Entries (Open & Closed)
Class 1 192,007 85,071 138,539
Class 2 32,334 16,543 24,439
Class 3 23,339 16,561 19,950
Total 247,680 118,176 182,928
Average Daily Vehicle Entries (Open)
Class 1 136,241 60,088 98,165
Class 2 25,831 13,290 19,561
Class 3 16,348 11,704 14,026
Total 178,420 85,083 131,751
Average Daily Kilometers Travelled (In 000 km)
Class 1 3,408 1,312 2,360
Class 2 654 300 477
Class 3 488 338 413
Total 4,550 1,951 3,250
22
1Q 2019 2Q 2019 1H 2019
215,174 223,061 219,139
36,919 36,878 36,899
25,880 24,979 25,427
277,973 284,918 281,465
153,503 159,803 156,670
29,521 29,380 29,450
18,564 17,760 18,160
201,588 206,943 204,280
3,901 4,209 4,056
769 774 771
534 500 517
5,205 5,483 5,345
METRO PACIFIC TOLLWAYS CORPORATION
KEY PERFORMANCE INDICATORS
NORTH LUZON EXPRESSWAY
Class 1 Tariff: Open system - P48.2/entry / Closed system - P2.8/km

23. 23
METRO PACIFIC TOLLWAYS CORPORATION
KEY PERFORMANCE INDICATORS
CAVITE EXPRESSWAY
Class 1 Tariff/entry: R1 - P22.7 (2020) / P21.8 (2019); R1 extension - P58.5;C5 South Link: Tariff/entry: P19.6
1Q 2020 2Q 2020 1H 2020
Average Daily Vehicle Entries
Class 1 146,320 52,169 99,244
Class 2 11,190 3,870 7,530
Class 3 6,288 3,688 4,988
Total 163,798 59,727 111,762
1Q 2019 2Q 2019 1H 2019
144,563 148,939 146,763
10,239 10,283 10,261
6,471 6,199 6,334
161,272 165,421 163,358
SUBIC CLARK TARLAC EXPRESSWAY
Class 1 Tariff: P3.2/km (2020) / P2.7/km (2019)
1Q 2020 2Q 2020 1H 2020
Average Daily Vehicle Entries
Class 1 49,961 16,340 33,150
Class 2 6,602 2,723 4,663
Class 3 5,239 3,600 4,419
Total 61,802 22,662 42,232
1Q 2019 2Q 2019 1H 2019
56,087 60,210 58,160
7,523 7,694 7,609
5,194 4,920 5,056
68,805 72,825 70,826

24. 24
METRO PACIFIC TOLLWAYS CORPORATION
KEY PERFORMANCE INDICATORS
CAVITE LAGUNA EXPRESSWAY
Class 1 Tariff: P4.5/km
1Q 2020 2Q 2020 1H 2020
Average Daily Vehicle Entries
Class 1 6,419 2,949 4,180
Class 2 104 68 81
Class 3 57 58 58
Total 6,580 3,076 4,319
1Q 2019 2Q 2019 1H 2019
- - -
- - -
- - -
- - -
1Q 2020 2Q 2020 1H 2020
Capital Expenditure (in P MM) 8,812 4,902 13,714
1Q 2019 2Q 2019 1H 2019
4,176 6,682 10,858

25. 25
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H2019 2Q% 1H%
Stand-alone Core Income 1,607 1,962 3,569 1,821 2,778 4,599 -29% -22%
Maynilad (52.8%) 849 1,035 1,884 961 1,467 2,428 -29% -22%
Fair Value Adjustments - 1 1 (49) (53) (102) -102% -101%
Metropac Water Investments 10 (86) (76) (10) (16) (26) 438% 192%
Contribution to MPIC 859 950 1,809 902 1,398 2,300 -32% -21%
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H2019 2Q% 1H%
Revenues 5,712 5,704 11,416 5,686 6,486 12,172 -12% -6%
Cost of services (1,734) (1,761) (3,495) (1,587) (1,726) (3,313) 2% 5%
Gross profit 3,978 3,943 7,921 4,099 4,760 8,859 -17% -11%
Operating expenses (1,038) (740) (1,778) (1,024) (701) (1,725) 6% 3%
Other income and expense - net (176) 112 (64) (147) 69 (78) 62% -18%
Interest expense - net (488) (664) (1,152) (357) (416) (773) 60% 49%
Provision for income tax (669) (689) (1,358) (750) (934) (1,684) -26% -19%
Core income 1,607 1,962 3,569 1,821 2,778 4,599 -29% -22%
Non-core income (expense) 10 (69) (59) (2) (40) (42) 73% 40%
Reported Net Income 1,617 1,893 3,510 1,819 2,738 4,557 -31% -23%
-
Core EBITDA Computation:
Core income 1,607 1,962 3,569 1,821 2,778 4,599 -29% -22%
Depreciation and amortization 1,024 1,167 2,191 869 900 1,769 30% 24%
Interest expense - net 488 664 1,152 357 416 773 60% 49%
Provision for income tax 669 689 1,358 750 934 1,684 -26% -19%
Core EBITDA 3,788 4,482 8,270 3,797 5,028 8,825 -11% -6%
MAYNILAD WATER SERVICES
CONDENSED STATEMENTS OF INCOME

26. 26
1Q 2020 2Q 2020 1H 2020
NRW*
Average 24.7% 25.6% 25.1%
Service Levels**
24hr availability 63.1% 85.8% 86%
Minimum 16 psi 21.4% 32.5% 32%
Customer Mix (Billed Volume)
Domestic 80.7% 86.3% 83.6%
Non-Domestic / Cross Border 19.3% 13.7% 16.4%
Capital Expenditure (in P MM) 2,408 2,870 5,278
1Q 2019 2Q 2019 1H 2019
27.9% 25.6% 26.7%
98.1% 74.7% 75%
66.4% 26.3% 26%
80.0% 79.8% 79.9%
20.0% 20.2% 20.1%
2,401 3,004 5,405
*Measured at the district metered area level
**Indicative KPIs for 1H2020. KPIs are still being finalized
MAYNILAD WATER SERVICES
KEY PERFORMANCE INDICATORS

27. 27
Industrial
Water
Municipal Water
In Aggregate Bulk Distribution Total
Max. Potential Volume (mld) 660 305 297 1,262
Installed Capacity (mld) 335 174 142 651
Billed Volume (mld) 124 169 67 360
Regulated Tariff? No No Yes
Demand Risk? Yes Mixed No
In Aggregate Philippines Vietnam Total
Max. Potential Volume (mld) 602 660 1,262
Installed Capacity (mld) 316 335 651
OVERVIEW OF EXISTING PORTFOLIO
Metro Pacific Iloilo Water Inc. (Project Cost of ₱12.3 billion
over 30 years)
• Joint venture agreement for the rehabilitation, operation,
maintenance, and expansion of the existing water distribution
system and the development of water and wastewater facilities in
Iloilo City
• Operations commenced last July 2019
Metro Pacific Dumaguete Water Services Inc. (Project Cost of
₱1.6 billion over 25 years)
• Joint venture agreement for the rehabilitation, operation,
maintenance, and expansion of the existing water distribution
system and the development of water and wastewater facilities
signed on September 3, 2019
• Operations are expected to commence within 2020
Phu Ninh Water
• Started supplying water in July 2019
• Increased ownership in Phu Ninh to 52.5% on September 5, 2019
and to 56.1% on April 6, 2020 EXPANSION
▪ Organic growth potential – 291 mld
▪ Investment growth potential – 611 mld
METRO PACIFIC WATER UPDATES

28. 28
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019 2Q % 1H %
Stand-alone Core Income 180 (355) (175) 223 83 306 -528% -157%
LRMC (35.8%) 99 (172) (73) 123 45 168 -482% -143%
Holding company admin (37) 2 (35) - 1 1 100% 100%
MPIC Share 62 (170) (108) 123 46 169 -470% -164%
In Millions of Pesos 1Q 2020 2Q 2020 1H 2020 1Q 2019 2Q 2019 1H 2019 2Q % 1H %
Rail revenues 708 109 817 832 747 1,579 -85% -48%
Cost of services (359) (303) (662) (477) (527) (1,004) -43% -34%
Gross profit 349 (194) 155 355 220 575 -188% -73%
Operating expenses (163) (167) (330) (175) (189) (364) -12% -9%
Other income and expense - net 33 16 49 34 40 74 -60% -34%
Interest income (expense) - net 6 (7) (1) 47 40 87 -118% -101%
Provision for income tax (45) (3) (48) (38) (28) (66) -89% -27%
Core income (loss) 180 (355) (175) 223 83 306 -528% -157%
Non-core income (expense) 5 (3) 2 (5) (5) (10) -40% -120%
Reported net income (loss) 185 (358) (173) 218 78 296 -559% -158%
Core EBITDA Computation:
Core income (loss) 180 (355) (175) 223 83 306 -528% -157%
Depreciation and amortization 30 31 61 25 33 58 -6% 5%
Interest (income) expense - net (6) 7 1 (47) (40) (87) -118% -101%
Provision for income tax 45 3 48 38 28 66 -89% -27%
Core EBITDA 249 (314) (65) 239 104 343 -402% -119%
LIGHT RAIL MANILA CORPORATION
CONDENSED STATEMENTS OF INCOME

29. 29
1Q 2020 2Q 2020 1H 2020
Average Daily Ridership 422,703 78,190 325,200
Capital Expenditure (in P MM) 2,171 529 2,700
1Q 2019 2Q 2019 1H 2019
463,758 428,791 446,571
1,192 2,787 3,979
LIGHT RAIL MANILA CORPORATION
KEY PERFORMANCE INDICATORS

30. 30
STATEMENTS OF FINANCIAL POSITION – CONSOLIDATED (Unaudited)
BALANCE SHEET BALANCE SHEET (continued)
In PhP Millions June 2020 Dec 2019 In PhP Millions June 2020 Dec 2019
ASSETS NONCURRENT LIABILITIES
CURRENT ASSETS Noncurrent portion of concession fees payable
Cash and cash equivalents and short term
deposits 65,935 74,697
long-term debt and others
258,929 263,068
Receivables 18,236 14,624 Due to related parties - 2,240
Other current assets 15,008 15,916 Deferred tax liabilities 14,231 14,170
Total Current Assets 99,179 105,237 Other noncurrent liabilities 12,011 11,137
Total Noncurrent Liabilities 285,171 290,615
NONCURRENT ASSETS
Investments and advances 166,280 169,092 Total Liabilities 371,553 365,733
Service concession assets 260,383 240,489
Property and equipment 57,559 58,591 EQUITY
Goodwill 15,624 15,676 Capital stock 31,661 31,661
Other noncurrent assets 21,779 22,693 Additional paid-in capital 68,638 68,638
Total Noncurrent Assets 521,625 506,541 Treasury shares (708) (4)
Other equity adjustments and reserves (1,521) 17
TOTAL ASSETS 620,804 611,778 Retained earnings 91,276 90,650
Total equity attributable to owners of Parent 189,346 190,962
LIABILITIES AND EQUITY Non-controlling interest 59,905 55,083
CURRENT LIABILITIES Total Equity 249,251 246,045
Accounts payable and other current liabilities 40,621 38,002
Due to related parties 2,416 5,638 TOTAL LIABILITIES AND EQUITY 620,804 611,778
Current portion of concession fees payable,
long-term debt and others 43,345 31,478
Total Current Liabilities 86,382 75,118
As of As of

31. 31
FINANCIAL POSITION HIGHLIGHTS
STAND-ALONE COMPANIES (Unaudited)
In PhP Millions
GROSS
DEBT
GROSS
CASH
TOTAL
ASSETS
TOTAL
EQUITY
GROSS
DEBT
GROSS
CASH
TOTAL
ASSETS
TOTAL
EQUITY
MPIC PARENT(a)
79,980 27,458 234,958 140,427 85,197 38,155 246,011 139,049
MANILA ELECTRIC COMPANY 40,900 27,580 378,720 79,621 41,253 38,262 357,019 85,241
METRO PACIFIC TOLLWAYS CORPORATION 78,744 15,078 176,646 57,591 67,813 11,248 162,427 54,732
MAYNILAD WATER SERVICES 40,474 9,866 126,125 53,975 41,082 11,410 119,803 50,483
LIGHT RAIL MANILA CORPORATION 15,733 2,038 34,209 13,546 11,779 1,628 30,382 12,973
AS OF JUNE 2020 AS OF DECEMBER 2019
Note:
(a) Gross debt excludes payable to PCEV

32. 32
CAUTIONARY STATEMENTS
This presentation was prepared solely and exclusively for discussion purposes. This presentation and/or any part thereof may not be reproduced, disclosed or
used without the prior written consent of Metro Pacific Investments Corporation (the “Company”).
This presentation, as well as discussions arising therefrom, may contain statements relating to future expectations and/or projections of the Company by its
management team, with respect to the Company and its portfolio companies. These statements are generally identified by forward-looking words such as
“believe,” “plan,” “anticipate,” “continue,””estimate,” “expect,” “may,” “will,” or other similar words. These statements are: (i) presented on the basis of current
assumptions which the company’s management team believes to be reasonable and presumed correct based on available data at the time these were made, (ii)
based on assumptions regarding the Company’s present and future business strategies, and the environment in which it will operate in the future, (iii) a reflection
of our current views with respect to future events and not a guarantee of future performance, and (iv) subject to certain factors which may cause some or all of
the assumptions not to occur or cause actual results to diverge significantly from those projected. Any and all forward looking statements made by the Company
or any persons acting on its behalf are deemed qualified in their entirety by these cautionary statements.
This presentation is solely for informational purposes and should in no way be construed as a solicitation or an offer to buy or sell securities or related financial
instruments of the Company and/ or any of its subsidiaries and/or affiliates.
ABOUT MPIC
Metro Pacific Investments Corporation (PSE:MPI) is a Philippine-based, publicly listed investment and management company, focused on infrastructure, with holdings in
Manila Electric Company, Maynilad Water Services, Inc., MetroPac Water Investments Corporation, Metro Pacific Tollways Corporation, Metro Pacific Hospital Holdings Inc.,
Light Rail Manila Corporation, and MetroPac Movers Inc..
HEADQUARTERS INVESTOR RELATIONS (investorrelations@mpic.com.ph)
10/F MGO Building, Legazpi corner Dela Rosa Streets, Head, Investor Relations – Maricris C. Aldover - Ysmael (mdaldover@mpic.com.ph)
Legazpi Village, Makati 0721 Philippines IR Manager – Owen Kieffer D. Ocampo (odocampo@mpic.com.ph)
Phone: (+632) 8888-0888 / Facsimile: (+632) 8888-0813 IR Senior Specialist – Jana Lyra M. Manlangit (jmmanlangit@mpic.com.ph)
Official Website: www.mpic.com.ph

33. 33