Metro Pacific 2015Q1

FIRST QUARTER 2015
FINANCIAL RESULTS
ANALYSTS BRIEFING
12 May 2015
DISCLAIMER
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 companys 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 Companys 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.
Ticker: PSE:MPI
American Depositary Receipts
ADR Ticker: MPCIY
CUSIP: US59164L2007
Ratio: 1 ADR : 100 Ordinary Shares
Depositary Bank:
Deutsche Bank Trust Company Americas
ADR Broker Helpline:
+1 212 250 9100 (New York)
+44 207 547 6500 (London)
E-mail: adr@db.com
ADR Website: www.adr.db.com
Depositary Banks Local Custodian:
Deutsche Bank Manila
ABOUT MPIC
Metro Pacific Investments Corporation (PSE:MPI) is a Philippine-based, publicly listed investment and management company, focused in infrastructure,
with holdings in Manila Electric Company, Maynilad Water Services, Inc., Metro Pacific Tollways Corporation, Makati Medical Center, Cardinal Santos
Medical Center, Asian Hospital, Davao Doctors Hospital, Riverside Medical Center, Lourdes Hospital, De Los Medical Center and Central Luzon Doctors
Hospital.
HEADQUARTERS
10/F MGO Building, Legazpi corner Dela Rosa Streets,
Legazpi Village, Makati 0721 Philippines
Phone: (+632) 888-0888 / Facsimile: (+632) 888-0813
Email: investorrelations@mpic.com.ph
Official Website: www.mpic.com.ph
INVESTOR RELATIONS TEAM (investorrelations@mpic.com.ph)

VP Investor Relations Albert WL Pulido (awlpulido@mpic.com.ph)
Investor Relations Manager Maricris C. Aldover (mdaldover@mpic.com.ph)
Investor Relations Assistant Ma. Isabel O. Acuzar (ioacuzar@mpic.com.ph)
FINANCIAL HIGHLIGHTS
In Millions of Pesos
1Q 2015 1Q 2014 % Change
MPIC share
Maynilad
MERALCO / Beacon
MPTC
Hospitals
Rail
Share of operating income
Head office expenses
Interest expense
Core income
Non-core expenses
Reported income
1,120
1,107
683
105
(12)
3,003
(281)
(156)
2,566
(122)
2,444
1,039
878
552
169
2,638
(308)
(87)
2,243
101
2,344
8%
26%
24%
-38%
100%
14%
-9%
79%
14%
-221%
4%
Diluted EPS on core income

In Centavos
9.47
8.61
10%
14% growth in MPIC Share driven by:

WATER - 3% in billed volume of Maynilad and
lower personnel cost
POWER - 2% in energy sales, increased
shareholding in MERALCO from 24.98% to 27.48%;
and increase in Non-electricity Revenues
TOLLROADS - 8% in average daily traffic and
11% in average kilometers traveled in NLEX, 9%
in average daily traffic in CAVITEX; contribution
from Don Muang Tollways; and increased
shareholding in MNTC from 71.0% to 75.6% in July
2014
HOSPITALS - Increasing number of patients, offset
by lower effective ownership with entry of GIC as
an investor in July 2014
Slower growth in Reported Income due to Maynilad
arbitration costs; and various tollroads / rail project /
water project expenses in 2015
14% GROWTH IN MPIC SHARE OF OPERATING INCOME

Q1 2015
Q1 2014
Hospitals 3%
Hospitals 7%
Hospitals
Hospitals
MPTC, 23%
Maynilad,
37%
Toll Roads
MPTC 21%
Toll Roads
Water
Meralco/
BEACON,
37%
Maynilad
39%
Water
Meralco/
BEACON
Power
33%
* Chart above does not include Pre-operating Rail Expenses
P3,003M
P2,638M
4
STAND-ALONE CORE INCOME VS MPIC SHARE

14% Growth in MPIC Share from P2.6 to P3.0B
WATER
In Millions
Stand-alone Core Income
Maynilad (52.8%)
DMWC and Fair Value Adjustments
MPWIC / MWCI
MPIC Share
POWER
1Q 2015
2,250
1,188
(57)
(11)
1,120
1Q 2014
2,109
1,114
(61)
(14)
1,039
%
7%
7%
-7%
-21%
8%
In Millions
MERALCO (27.48% - 24.98%)
Fair Value Adjustments
Beacon
MPIC Share
TOLL ROADS
In Millions
MPTC (99.9%)
Don Muang Tollways / AIF
MPIC Share
1Q 2015
628
627
(7)
63
683
1Q 2015
4,416
1,214
(55)
(52)
1,107
1Q 2014
4,088
1,021
(51)
(92)
878
%
8%
19%
8%
-43%
26%
HOSPITALS
1Q 2014
%
546 15%
545 15%
(7) 0%
14 >100%
552 24%
In Millions
Hospitals
MPIC Share
1Q 2015
293
106
(1)
105
1Q 2014
253
151
18
169
%
16%
-30%
-106%
-38%
CURRENT PENDING ISSUES / OPPORTUNITIES

TOLL ROADS
POWER
WATER
RAIL
SCTEX received Notice

of Award on 9 February
2015
Completion of
power generation
projects Redondo
and Quezon Power
Proceeding with
arbitration in Singapore
to call on Guarantee
Increase in maximum
fare of 45% announced
by DOTC - Concession
called for 60% increase
Turn-over of existing
LRT1 operations and
start of construction
Connector Road Swiss

Challenge by year-end
2015
Delayed tariff increases
o NLEX due January
2013 & 2015
o CAVITEX due January
2012 & 2015
Timing of completion of
Segment 10 of Harbour
Link
At least 6 month
delay in rate
rebasing process
Maynilad has applied for

a cumulative CPI
increase pending the
implementation of the
arbitral award
Reviewing business plan
to assess targets and
prioritize cash flow in
light of delayed increase
AF Payments first go-live

on LRT2 by June 2015
AF Payments fully
operational by
September 2015
Regional investments
PORTFOLIO COMPANY RESULTS AND KEY PRIORITIES
MAYNILAD 1Q 2015 HIGHLIGHTS

In Millions
Maynilad (52.8%)
DMWC and Fair Value Adjustments
MPWIC / MWCI
MPIC Share
1Q 2015
2,250
1,188
(57)
(11)
1,120
1Q 2014
2,109
1,114
(61)
(14)
1,039
%
7%
7%
-7%
-21%
8%
MAYNILAD
Revenues increased by 2% due to:

In Millions
Revenues
Cost of services
Gross profit
Operating expenses
Other income and expense - net
1Q 2015
1Q 2014
4,487
(1,151)
3,336
(538)
(154)
4,391
(1,187)
3,204
(537)
(152)
%
2%
-3%
4%
0%
1%
Interest expense
Benefit from income tax
Core income
(482)
88
2,250
(505)
99
2,109
-5%
-11%
7%
Non-core expenses
Reported net income
(31)
2,219
(63)
2,046
-51%
8%
Core EBITDA Computation:

Core income
Depreciation and amortization
2,250
527
2,109
470
7%
12%
Interest expense
Benefit from income tax
Core EBITDA
482
(88)
3,171
505
(99)
2,985
-5%
-11%
6%
3% increase in billed volume from 111.6 MCM to 114.7

MCM
6% increase in billed customers from 1,145,934 to

1,211,954
Decrease in average effective tariff from continued shift in

the customer mix to more domestic clients
Core EBITDA grew faster due to lower personnel costs as a
result of the right sizing program
Core Income grew slightly faster than EBITDA due to lower
interest expense in-line with lower loan balances
Other Businesses Stand-alone
PhilHydro Gross Revenues of P43 million and Net Income of

P10 million; billed volume significantly improved to 32.8 MLD
from 26.6 MLD
Subic Water Gross Revenues of P52 million and Net Income
of P12 million
KEY METRICS AND KEY PRIORITIES

KEY METRICS
1Q 2015
NON-REVENUE WATER
1Q 2014
NRW
42.0%
118
Average
34.1%
35.8%
40.0%
Period end
32.7%
35.3%
38.0%
116
114
112
36.0%
Coverage
Total population
120
110
108
9.79M
9.68M
34.0%
106
104
32.0%
Population coverage
8.99M
8.71M
24hr availability
100%
98%
Over 7 psi
100%
100%
Customer Mix
102
30.0%
100
Mar-13
Jun-13
Dec-13
Billed Volume (MCM)
Mar-14
Jun-14
Average NRW
Sep-14
Dec-14
Mar-15
Period End NRW
Seasonality of water consumption affects NRW
IMPLEMENTATION OF ARBITRATION DECISION
Residential
80%
79%
Commercial
20%
21%
Significant Events:
20 February 2015
Capital Expenditure
Sep-13
P1,719
P962M
Maynilad calls on Governments (Department of

Finance) undertaking to indemnify concessionaire for
losses caused by delays in implementation of tariff
09 March 2015
Maynilad sends a follow-up letter to the DOF
27 March 2015
Maynilad serves Notice of Arbitration to the Philippine

Republic
MERALCO 1Q 2015 HIGHLIGHTS

In Millions
MERALCO (27.48% - 24.98%)
Beacon
MPIC Share
1Q 2015
1Q 2014
4,416
1,214
(55)
(52)
1,107
4,088
1,021
(51)
(92)
878
%
8%
19%
8%
-43%
26%
Growth in Core Income was a function of:

In Millions
Electricity
Non-electricity
Total revenues
Purchased power
Operating expenses
Other income
Provision for income tax
Non-controlling interests
Core income
Non-core income
Reported net income
Core income
Interest
Others
Core EBITDA
1Q 2015
61,072
1,517
62,589
(48,124)
(8,002)
(103)
(1,927)
(17)
4,416
5
4,421
4,416
1,608
58
1,927
218
8,227
1Q 2014
54,045
1,064
55,109
(41,315)
(7,876)
(65)
(1,746)
(19)
4,088
(80)
4,008
%
13%
43%
14%
16%
2%
58%
10%
-11%
8%
106%
10%
4,088
1,295
284
1,746
37
7,450
8%
24%
-80%
10%
489%
10%
2% growth in total energy sales from 7,908 GWh to

8,092 GWh (2.4% residential, 3.0%
commercial and 1.5% industrial sector) offset by
a 5.0% decrease in average distribution rate from
P1.62/kWh to P1.54/kWh
Growth in the number and volume of contestable

customers of MPower
43% increase in Non-electricity Revenues from
subsidiaries
Improved yield on cash and cash equivalents
10

KEY METRICS
System Loss
System Average Interruption
Frequency Index
Customer Average Interruption
Duration Index
Number of customers
Capital Expenditure
1Q 2015
1Q 2014
6.50%
6.59%
0.47 times
0.44 times
83.66
minutes
89.45
minutes
5.63M
5.42M
P 3,041M
P 2,098M
POWER GENERATION UPDATES

Baseload
San Buenaventura Power, Mauban, Quezon (Online by 2018)
Final stages of evaluation to appoint lead arrangers; expected
financial close by mid-2015
Negotiations on the EPC contract concluded in October 2014
Redondo Peninsula Energy, Subic (Online by 2019)
Energy Sales
Environmental case resolved
EPC contract and financing to be renegotiated

Atimonan One Energy, Atimonan, Quezon
Residential
2,262
2,209
Evaluating 2 x 600MW coal powerplant
Commercial
3,213
3,119
EPC prequalification process completed
Industrial
2,584
2,547
33
33
8,092
7,908
Streetlights
Total (in GWh)
Other Investments
2 x 400MW combined cycle LNG plant in Jurong Island, Singapore
28% effective ownership for MERALCO
Officially launched on 3 June 2014
MGen raises stake to 22% in Global Business Power Corporation
Largest IPP in Visayas with 704MW gross capacity (492MW coal
and 212MW others)
150MW CFB coal-fired plant is being built with target COD in 3Q

2016
11
MPTC 1Q 2015 HIGHLIGHTS

In Millions
MPTC (99.9%)
Don Muang Tollways / AIF
MPIC Share
In Millions
Net toll revenues
Operating and maintenance costs
Gross profit
Operating expenses
Interest expense
Non-controlling interest
Share in earnings of associates
Other income
Core income
Non-core income (expenses)
Reported net income
Core income
Interest expense
Core EBITDA
1Q 2015
1Q 2014
2,272
(832)
1,440
(221)
(282)
(198)
77
(272)
84
628
(37)
591
2,108
(783)
1,325
(202)
(257)
(194)
68
(230)
36
546
(8)
538
%
8%
6%
9%
9%
10%
2%
13%
18%
133%
15%
363%
10%
628
217
282
198
272
1,597
546
201
257
194
230
1,428
15%
8%
10%
2%
18%
12%
1Q 2015
628
627
(7)
63
683
1Q 2014
%
546 15%
545 15%
(7) 0%
14 350%
552 24%
Net Toll Revenues increased due to:

NLEX
Revenues up by 7% to P1,970 million
8% increase in average daily vehicle entries (open &
closed systems) to 196,058
11% increase in average kilometers travelled to 3.83M
Class 1 vehicles grew fastest 9% increase in average
daily vehicle entries; 14% increase in kilometers
travelled
CAVITEX
Revenues up by 10% to P302 million
9% increase in average daily vehicle entries to 118,435
Core EBITDAs faster growth due to increase in other income
Faster growth in Core Income due to a 5% increase in
shareholding in MNTC
Don Muang Tollway
Contribution amounted to P63 million net of AIFs financing
cost
Average daily vehicle entries
10% increase for Original Tollway to 82,772
6% increase for North Extension to 49,193
12

KEY METRICS
1Q 2015
1Q 2014
NLEX
Average Daily Vehicle Entries (Open & Closed)
Class 1
148,845
136,757
Class 2
30,195
29,544
Class 3
17,018
16,025
196,058
182,326
Total
Average Kilometers Travelled (In thousands of kms)

Class 1
2,794
2,446
Class 2
637
621
Class 3
397
384
3,828
3,451
Class 1
104,367
95,225
Class 2
9,747
9,858
Class 3
4,321
3,908
118,435
108,991
P799M
P171M
Total
CAVITEX
Average Daily Vehicle Entries
Total
Capital expenditure
PROJECT UPDATES
NORTH
NLEX Harbour Link
Segment 9 (P1.6 billion project cost)
Began operations in March 2015

Segment 10 (P10.5 billion project cost)
Ongoing construction operational by 2017

NLEX Citi Link (P7.5 billion project cost)
Final alignment undergoing evaluation operational by 2020
Connector Road / Metro Expressway Link (P14.2 billion project cost)
Swiss Challenge to be conducted within 2015 MPIC will have the right to
match the best bid
SCTEX
Received Notice of Award from BCDA on 9 February 2015 P3.5 billion upfront
payment and P600 million integration costs
Concession until 2043
SOUTH
Cavitex (P8.0 billion project cost)
Preparation of detail engineering design for expansion plans ongoing
CEBU
Cebu-Cordova Bridge Project (P18.0 billion project cost)
Granted Original Proponent Status on January 2015
Swiss Challenge to be conducted within 2015 MPIC will have the right to
match the best bid
VIETNAM
CII Bridges and Roads (P4.1 billion investment)
53 kilometers under construction and 2 kilometers to be constructed
Other projects under development
13
HOSPITAL GROUP 1Q 2015 HIGHLIGHTS

In Millions
Hospitals
Fair value adjustments
MPIC Share
1Q 2015
293
106
(1)
105
1Q 2014
253
151
18
169
%
16%
-30%
-106%
-38%
Increase in gross revenues due to:

In Millions
Gross revenues
Discounts
Net revenues
Cost of supplies
Gross profit
Operating expenses
Interest expense
Other income
Core income
Non-core expenses
Reported net income
Core income
Interest expense
Core EBITDA
1Q 2015
3,683
(349)
3,334
(1,453)
1,881
(1,474)
(70)
81
(125)
293
(1)
292
293
313
70
125
801
1Q 2014
3,456
(287)
3,169
(1,382)
1,787
(1,425)
(72)
76
(113)
253
(1)
252
253
293
72
113
731
%
7%
22%
5%
5%
5%
3%
-3%
7%
11%
16%
0%
16%
15% increase in Gross Revenues from Delos Santos

Medical Center, 14% increase from Cardinal Santos,
13% from Davao Doctors, 8% from Riverside Medical
Center, 5% from Our Lady of Lourdes and Makati
Medical
High impact cases and increasing number of outpatients served
Core EBITDA grew faster due to expense management and
purchasing synergies
Higher Core Income growth due to lower debt costs
MPICs lower share due to entry of GIC as an investor in
the beginning of July 2014
16%
7%
-3%
11%
10%
14

KEY PRIORITIES
Invest in more hospitals to expand the chain
Target of 3,700 beds and better coverage
Implement synergies across the network - groupwide policies and protocols on equipment and other
purchases
KEY METRICS
1Q 2015
1Q 2014
Total number of beds (Period end)
2,135
2,075
Number of accredited doctors
5,477
5,446
Invest in new equipment and renovations /

expansions in existing hospitals
Strive to integrate into one chain and build centers
of excellence across the network
Address changes in healthcare delivery
Average number of enrollees (YTD)
4,972
4,188
Average occupancy rate (YTD)
62.2%
69.3%
29,720
31,438
488,935
431,028
Mall-based diagnostic centers
Number of patients
In patient
Out patient
15
QUARTERLY ANALYSIS
16
MAYNILAD QUARTERLY HIGHLIGHTS
(In Millions of Pesos)
4Q 2014
Revenues
4,790
Core EBITDA
3,775
Core Income
2,411
Reported Income
2,458
KEY METRICS
Billed volume (In MCM)
117.2
Billed customers
1,190,062
Non-revenue water
Average
33.9%
Period end
33.2%
Service levels
24-hour coverage
100.0%
Over 7 psi
100.0%
1Q 2015
4,487
3,171
2,250
2,219
114.7
1,211,954
34.1%
32.7%
100.0%
100.0%
Revenues dropped due to decrease in billed volume

Core EBITDA slowed down due to lower revenues and increase in
operating expenses
Core Income grew faster due to true-up adjustment of income tax
in 4Q 2014
Reported Income dropped due to higher nonrecurring expenses
for this quarter
17
MERALCO QUARTERLY HIGHLIGHTS
(In Millions of Pesos)
4Q 2014
Total Revenues
63,446
Core EBITDA
6,520
Core Income
3,842
Reported Income
3,745
KEY METRICS
System Loss
6.49%
Number of customers
5.57M
Energy Sales
Residential
Commercial
Industrial
Streetlights
Total (in gWh)
2,568
3,537
2,769
33
8,907
1Q 2015
62,589
8,227
4,416
4,421
6.50%
5.63M
2,262
3,213
2,584
33
8,092
Lower Revenues this quarter due to lower energy sales
Core EBITDA grew faster due to lower O&M expenses and

higher revenues from subsidiaries
18
MPTC QUARTERLY HIGHLIGHTS (In Millions of Pesos)

4Q 2014
1Q 2015
Net Revenues
2,343
2,272
Core EBITDA
1,605
1,597
Core Income
605
628
Reported Income
590
591
Class 1
146,559
148,845
Class 2
30,442
30,195
Class 3
16,464
17,018
KEY METRICS
NLEX
Total
Revenue comparisons affected by true-up

adjustments in 4Q 2014
Class 1
2,665
2,794
Core EBITDA and Core Income grew faster due to

higher other income and interest income
Class 2
638
637
Class 3
379
397
3,682
3,828
Class 1
100,329
104,367
Class 2
9,652
9,747
Class 3
4,127
4,321
114,108
118,435
193,465 196,058
Average Kilometers Travelled (In thousands of k ms)
Total
Reported Income slower growing than Core Income

due to higher non-recurring expenses
CAVITEX
Total
19
HOSPITAL GROUP QUARTERLY HIGHLIGHTS (In Millions of Pesos)

4Q 2014
Revenues
3,483
Core EBITDA
729
Core Income
238
Reported Income
241
KEY METRICS
Total number of beds
2,134
Number of accredited
doctors
5,367
Number of enrollees
4,228
1Q 2015
3,683
801
293
292
2,135
5,477
4,972
Higher Revenues due to seasonality

Higher growth in Core Income as a result of lower
depreciation
20
BALANCE SHEETS AND CASH FLOWS
21
METRO PACIFIC INVESTMENTS CORPORATION PARENT

BALANCE SHEET
In PhP Millions
ASSETS
CURRENT ASSETS
Cash and short-term investments
Receivables - net
Other current assets
Total Current Assets
NONCURRENT ASSETS
Investments and advances to subs., associates & JVs
Other noncurrent assets
Total Noncurrent Assets
TOTAL ASSETS
As of
Mar 2015 Dec 2014
7,632
1,543
2,013
11,188
4,088
98
1,712
5,898
97,219
614
97,833
94,905
967
95,872
109,021
101,770
BALANCE SHEET (continued)

In PhP Millions
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable and other current liabilities
Due to related parties
Current portion of long-term debt
Total Current Liabilities
As of
Mar 2015 Dec 2014
3,372
372
65
3,809
819
7,547
65
8,431
6,286
685
6,971
6,318
1,186
7,504
Total Liabilities
10,780
15,935
EQUITY
Capital stock
Additional paid-in capital
Other reserves
Retained earnings
Total Equity
27,917
49,924
101
20,299
98,241
26,096
42,993
106
16,640
85,835
109,021
101,770
NONCURRENT LIABILITIES
Long-term debts - net of current portion
Other noncurrent liabilities
Total Noncurrent Liabilities
TOTAL LIABILITIES AND EQUITY
22
METRO PACIFIC INVESTMENTS CORPORATION PARENT

C ASH F LOW STATEM EN T
In PhP M illions
C ash F low s from Operating Activities
Income before income tax
Adjustments for:
Interest expense
Dividend income
Interest income
Others
Operating loss before working capital changes
Decrease (increase) in:
Receivables
Due from related parties
Increase (decrease) in accounts payable and other liabilities
Net cash used in operations
Dividend received
Interest paid
Income tax paid
Interest received
Net cash provided by operating activities
M ar 2 0 1 5
M ar 2 0 1 4
4 ,6 9 7
1,000
178
(5 ,2 3 4 )
(3 1 )
100
(2 9 0 )
122
(1,198)
(38)
(159)
(273)
(1 0 )
18
137
1 ,2 3 4
1 ,0 8 9
1 ,6 6 1
(2 4 7 )
(6 )
30
2 ,5 2 7
(17)
114
137
(2)
(41)
116
(250)
(3)
14
(164)
C ASH F LOW STATEM EN T (continued)

In PhP M illions
C ash F low s from Investing Activities
Acquisition/purchase of:
Investment in subsidiaries, associates and joint venture
Property and equipment
Increase in other non-current assets
Proceeds from:
Sale of AFS investments
Proceeds from disposal of other assets
Net cash used in investing activities
C ash F low s from F inancing Activities
Proceeds from:
Issuance of capital stock
Subscription arising from ESOP
Payments of:
Transaction costs
Long-term debt
Net cash provided by (used in) financing activities
M ar 2 0 1 5
M ar 2 0 1 4
(7 ,6 8 7 )
(1 )
(2 )
(140)
(7)
-
(7 ,6 9 0 )
459
(24)
288
8 ,8 7 9
26
(1 6 6 )
(3 2 )
8 ,7 0 7
(32)
(26)
Net increase (decrease) in cash and cash equivalents
3 ,5 4 4
98
Cash and cash equivalents at beginning of period
4 ,0 8 8
4,529
C ash and cash equivalents at end of period
7 ,6 3 2
4,627
23
METRO PACIFIC INVESTMENTS CORPORATION CONSOLIDATED

BALANCE SHEET
In PhP Millions
ASSETS
CURRENT ASSETS
Receivables and other current assets
Asset held for sale
As of
Mar 2015 Dec 2014
29,178
7,882
37,060
1,480
38,540
28,125
6,274
34,399
1,370
35,769
NONCURRENT ASSETS
Investments and advances
Goodwill
Service concession assets
Property and equipment - net
65,921
18,308
99,954
7,456
9,070
200,709
65,175
18,308
98,260
7,368
9,132
198,243
TOTAL ASSETS
239,249
234,012

CURRENT LIABILITIES
Accounts payable and other current liabilities
Current portion of Concession fees payable,
long-term debt and others
12,124
12,049
12,555
24,679
17,151
29,200

In PhP Millions
NONCURRENT LIABILITIES
Long-term debts - net of current portion
Service concession fees payable
Deferred tax and other noncurrent liabilities
As of
Mar 2015 Dec 2014
57,387
7,220
9,899
74,506
57,494
7,271
10,475
75,240
99,185
104,440
EQUITY
Capital stock
Other Reserves
Retained earnings
Total equity attributable to owners of Parent
Total Equity
27,917
49,924
6,977
28,936
113,754
26,310
140,064
26,096
42,993
7,081
27,525
103,695
25,877
129,572
239,249
234,012
Total Liabilities
24
MAYNILAD WATER SERVICES INC. & SUBSIDIARIES

BALANCE SHEET
In PhP Millions
ASSETS
Current Assets
Trade and other receivables
As of
Mar 2015 Dec 2014
6,192
1,939
2,536
10,667
7,104
2,048
2,675
11,827
Non-current Assets
Service concession assets - net
Deferred tax assets - net
Property and equipment - net
Other noncurrent assets - net
58,140
2,255
795
823
62,013
56,926
2,161
810
818
60,715
TOTAL ASSETS
72,680
72,542

Current Liabilities
Trade and other payables
Current portion of interest-bearing loans
Current portion of service concession obligation
10,068
1,692
1,047
12,807

In PhP Millions
Non-current Liabilities
Interest-bearing loans - net of current portion
Noncurrent portion of service concession obligation
Pension liability
Deferred credits and other noncurrent liabilities
As of
Mar 2015 Dec 2014
22,619
7,040
305
1,823
31,787
22,509
7,041
282
1,723
31,555
Total Liabilities
44,594
44,675
Equity
Capital stock
Other equity adjustments
Retained earnings
Total Equity
4,547
9,980
(362)
13,921
28,086
4,547
9,980
(362)
13,702
27,867
72,680
72,542
10,334
1,692
1,094
13,120
25
MAYNILAD WATER SERVICES INC. & SUBSIDIARIES

In PhP M illions
C ash F lows from Operating Activities
Adjustments for:
Interest expense
Amortization of service concession assets
Interest income
Foreign exchange losses (gains)
Operating income before working capital changes
Decrease (increase):
Short-term investments
Trade and other receivables
Increase in trade and other payables
Cash generated from operations
Interest received
M ar 2015
M ar 2014
2,125
1,940
521
472
(32)
(17)
55
3,124
548
415
(36)
13
55
2,935
(518)
110
(1,686)
139
(80)
1,089
32
1,121
2,343
59
(906)
(210)
465
4,686
36
4,722

In PhP M illions
C ash F lows from Investing Activities
Acquisitions of property and equipment
Decrease (increase) in deferred tax assets
Decrease (increase) other noncurrent assets
M ar 2015
M ar 2014
(40)
(95)
(5)
(140)
(104)
(136)
7
(233)
(457)
(838)
(2,000)
984
-
(523)
(849)
(1,000)
95
(1)
341
20
62
(539)
(2,427)
187
19
54
(594)
(2,612)
(1,446)
1,877
4,189
2,864
C ash and cash equivalents at end of period
2,743
4,741
C ash F lows from F inancing Activities

Payments of:
Service concession obligation payable
Interest-bearing loans
Dividends
Proceeds from availment of interest-bearing loans
Reissuance (acquisition) of treasury shares
Increase (decrease) in:
Payable to MWSS
Deferred credits
Interest paid
Net cash provided used in financing activities
Net decrease in cash and cash equivalents
26
METRO PACIFIC TOLLWAYS CORPORATION AND SUBSIDIARIES

BALANCE SHEET
In PhP Millions
ASSETS
Current Assets
Cash and cash equivalents
Receivables
Inventories
Noncurrent Assets
Available for sale investments
Investment in an associate
Goodwill
TOTAL ASSETS
As of
Mar 2015 Dec 2014
5,570
1,127
54
92
2,850
9,693
4,258
699
50
109
5,472
10,588
26,921
2,023
181
2,849
4,979
1,960
38,913
26,309
2,012
182
273
4,979
1,946
35,701
48,606
46,289

In PhP Millions
Current Liabilities
Accounts payable and accrued expenses
Current portion of long term debt
Other current liabilities
As of
Mar 2015 Dec 2014
2,144
1,242
3,379
6,765
2,536
1,220
873
4,629
Noncurrent Liabilities
Long-term debt - net of current portion
Deferred tax liabilities
25,296
748
2,364
28,408
25,456
703
1,659
27,818
Total Liabilities
35,173
32,447
Equity
Capital Stock
Retained earnings
11,837
(3,205)
2,626
11,837
(3,182)
3,190
Total Equity Attributable to Equity Holders of

Parent
Total Equity
11,258
2,175
13,433
11,845
1,997
13,842
48,606
46,289
27
METRO PACIFIC TOLLWAYS CORPORATION AND SUBSIDIARIES

CAS H FLOW S TATEMENT
In PhP Millions
Cash Flows f rom Operating Activities
Adjustments for:
Interest expense and other finance costs
Amortization of service concession assets
Equity in net earnings of an associate
Interest income
Depreciation
Others
Restricted cash
Receivables
Inventories
Advances to contractors and consultants
Input VAT
Increase (decrease):
Accounts payable and other liabilities
Long-term incentive plan payable
Unearned toll revenue
Income tax paid
Mar 2015
1,049
Mar 2014
961
320
176
(78)
(37)
12
(15)
1,427
278
154
(68)
(18)
11
(25)
1,293
(133)
(421)
(3)
17
47
3
-
153
(94)
6
47
5
(8)
21
(355)
(171)
11
(3)
419
(401)
10
(9)
1,023
CAS H FLOW S TATEMENT (continued)

In PhP Millions
Advances for future stock subscription
Additions to:
Intangible assets
Investments
Proceeds from:
Disposal and maturity of AFS investment
Sale of property and equipment
Cash Flows f rom Financing Activities
Payments of:
Dividends
Interest
Loans
Debt issue cost
Acquisition for non-controlling interest
Deposit for future subscription
Availment of loans
Net cash used in financing activities
Effect of exchange rate changes on cash
Cash Flows f rom Investing Activities

Decrease (increase) in restricted cash
Decrease (increase) in other noncurrent assets
Dividends received
Interest received
(Forward)
(3,438)
(12)
46
24
Mar 2015
(1,396)
Mar 2014
-
(843)
(10)
(1)
(2,456)
(164)
(18)
(1)
(235)
3,938
(1)
(4,149)
(404)
(845)
(349)
(136)
700
2,100
1,470
(409)
(217)
(115)
(11)
(1,425)
8,500
6,323
(1)
(2,259)
6,941
3,824
2,666
Cash and cash equivalents at end of period
1,565
9,607
6
8
28
MEDICAL DOCTORS INC. AND SUBSIDIARIES

BALAN C E SHEET
In PhP M illions
ASSETS
C urrent Assets
Receivables - net
Inventories - net
Total C urrent Assets
N oncurrent Assets
Property and Equipment - net
Total N oncurrent Assets
TOTAL ASSETS
LIABILITIES AN D EQUITY
C urrent Liabilities
Current portion of long-term liabilities
Total C urrent Liabilities
As of
M ar 2 0 1 5
Dec 2 0 1 4
414
709
206
53
1 ,3 8 2
338
641
219
39
1,237
7 ,3 8 9
37
7 ,4 2 6
7,410
39
7,449
8 ,8 0 9
8,686
1 ,0 5 3
14
4
1 ,0 7 1
991
19
13
1,023
BALAN C E SHEET (continued)

In PhP M illions
N oncurrent Liabilities
Deferred income tax liabilities
Retirement benefit obligation
Loans payable
Total N oncurrent Liabilities
As of
M ar 2 0 1 5
Dec 2 0 1 4
862
47
1 ,0 7 7
1 ,9 8 6
863
43
1,081
1,987
Total Liabilities
3 ,0 5 7
3,010
Equity
Capital stock
Capital in excess of par value
Retained earnings
Treasury Stock
332
1 ,5 2 0
2 ,2 1 9
1 ,6 6 4
(1 5 )
332
1,514
2,221
1,592
(15)
Total Equity Attributable to Equity Holders of Parent

Total Equity
5 ,7 2 1
31
5 ,7 5 2
5,644
32
5,676
TOTAL LIABILITIES AN D EQUITY
8 ,8 0 9
8,686
0.00
1,000,000.00
29
MEDICAL DOCTORS INC. AND SUBSIDIARIES

C ASH FLOW STATEM EN T
In PhP M illions
Cash Flows from Operating Activities

Adjustments for:
Provisions
Retirement benefit expense
Interest expense
Others
Receivables
Inventories
Prepayments
Refundable deposits and other liabilities
Contributions to the retirement fund
M ar 2015
M ar 2014
102
94
11
114
9
14
250
11
99
7
10
1
221
(81)
13
(13)
(25)
25
(44)
107
(3)
272
(6)
266
-
(47)
1
130
(5)
125
(0)
C ASH FLOW STATEM EN T (continued)

In PhP M illions
Cash Flows from Investing Activities

Construction in progress
Increase in other noncurrent assets
Others
M ar 2015
M ar 2014
(21)
(72)
(93)
(87)
(109)
(10)
2
(204)
6
(9)
(15)
(80)
(98)
137
6
(54)
(5)
(85)
(0)
76
(79)
338
369
414
289
Cash Flows from Financing Activities

Proceeds from:
Loans
Payment of loan
Interest paid
Dividends paid
30
COLINAS VERDES (CARDINAL SANTOS MEDICAL CENTER)

BALAN C E SHEET (restated)
In PhP M illions
ASSETS
C urrent Assets
Receivables - net
Inventories - net
As of
M ar 2 0 1 5
Dec 2 0 1 4
168
159
79
37
444
127
149
70
37
383
N oncurrent Assets
Deferred income tax assets
1 ,0 7 5
86
6
1 ,1 6 7
1,097
79
6
1,182
TOTAL ASSETS
1 ,6 1 1
1,565

In PhP M illions
Loans payable, current
Retirement plan
Lease payable
Total Liabilities
Equity
Capital stock
1,000,000
As of
M ar 2 0 1 5
Dec 2 0 1 4
485
6
30
18
539
501
12
65
17
596
19
638
657
17
615
632
1 ,1 9 6
1,227
20
Deposit for future stock subscription

Other comprehensive income
Retained earnings
Total Equity
30
5
360
415
5
328
338
1 ,6 1 1
1,565
(0)
31
COLINAS VERDES (CARDINAL SANTOS MEDICAL CENTER)

C ASH FLOW STATEMENT
In PhP Millions

Adjustments for:
Provisions
Interest expense
Receivables
Inventories
Prepayments
Refundable deposits and other liabilities
Mar 2015
Mar 2014
46
42
3
49
26
124
2
43
27
114
(13)
(9)
-
(11)
14
(10)
(43)
3
62
(101)
1
7
62
C ASH FLOW STATEMENT (continued)

In PhP Millions
Mar 2015
Mar 2014

Increase in other noncurrent assets
(28)
(28)
(14)
1
(13)

Loans payable
Net cash provided by (used in) financing activities
(38)
45
7
(36)
(36)
42
(43)
127
104
168
61
1
-
1,000,000
32
DAVAO DOCTORS HOSPITAL, INC. AND SUBSIDIARIES

BALAN C E SHEET
In PhP M illions
ASSETS
C urrent Assets
Receivables, net
Inventory, net
Prepaid expenses
As of
M ar 2 0 1 5
Dec 2 0 1 4
246
167
76
11
500
228
163
79
11
481
N oncurrent Assets
Deferred income tax assets
1 ,0 3 8
20
43
1 ,1 0 1
1,014
19
31
1,064
TOTAL ASSETS
1 ,6 0 1
1,545
263
59
322

In PhP M illions
Retirement benefit obligations
As of
M ar 2 0 1 5
Dec 2 0 1 4
40
9
49
36
9
45
371
321
Equity
Capital stock
Capital in excess of par value
Treasury shares
Retained earnings
Total Equity
91
48
(7 )
(2 0 )
1 ,1 1 8
1 ,2 3 0
91
48
(7)
29
1,063
1,224
1 ,6 0 1
1,545
Total Liabilities
236
40
276
33
DAVAO DOCTORS HOSPITAL, INC. AND SUBSIDIARIES

CASH FLOW STATEMENT
In PhP Millions

Adjustments for:
Depreciation
Provision for bad debts
Receivables
Inventories
Prepayments and others
Deferred tax asset
Other non current liabilities
Mar 2015
Mar 2014
77
62
36
2
115
32
2
96
1
3
(6)
17
9
(2)
(28)
3
(1)
(34)
1
87
87
CASH FLOW STATEMENT (continued)

In PhP Millions
Mar 2015
Mar 2014

Increase in noncurrent assets
(60)
(9)
(69)

Decrease in other noncurrent liabilities
Net increase in cash and cash equivalents
(42)
(2)
(44)
(1)
(1)
18
41
228
171
246
211
0
-
34
RIVERSIDE MEDICAL CENTER GROUP

BALAN C E SHEET
In PhP M illions
ASSETS
C urrent Assets
Receivables - net
Inventories - net
N oncurrent Assets
Pension Asset
TOTAL ASSETS
As of
M ar 2 0 1 5
Dec 2 0 1 4
131
138
82
12
363
117
162
94
10
383
865
17
9
892
874
23
10
906
1 ,2 5 5
1,289
Unearned tuition and other school fees
Income tax payable

In PhP M illions
Long-term debt - net of current
Deferred income tax liabilities
Accrued retirement costs
304
25
44
9
24
406
Dec 2 0 1 4
118
73
12
21
224
123
71
21
21
236
Total Liabilities
568
641
Equity
Capital stock
Retained earnings
Treasury Stock
Total Equity
39
176
476
(4 )
687
39
176
437
(4)
648
1 ,2 5 5
1,289

294
25
1
21
3
344
As of
M ar 2 0 1 5
(0 .0 0 )
35
RIVERSIDE MEDICAL CENTER GROUP

CASH FLOW STATEMENT
In PhP Millions
Adjustments for:
Depreciation
Interest expense
Others
Decrease (increase) :
Receivables
Inventories
Other assets
Interest paid
Retirement payment
Mar 2015
Mar 2014
52
45
20
2
2
77
19
2
2
67
24
12
(2)
57
3
(1)
(10)
(63)
39
(1)
(55)
(39)
31
(2)
(11)
26
-
(2)
28
-

In PhP Millions
Decrease (increase) in investments/other noncurrent assets
Mar 2015
Mar 2014
(13)
5
(8)
(20)
(20)
(5)
1
(4)
25
(35)
3
(7)
14
Cash and cash equivalents as of beginning of period
117
67
Cash and cash equivalents at end of the period
131
68

Proceeds of long-term debt
Payment of long-term debt
Others
Net cash used in ifinancing activities
(0)
36
EAST MANILA HOSPITAL MANAGERS CORP. (LOURDES)

BALAN C E SHEET
In PhP M illions
ASSETS
C urrent Assets
Receivables - net
Inventories - net
Prepaid expenses
N oncurrent Assets
Deferred income tax
Total N onC urrent Assets
As of
M ar 2 0 1 5 Dec 2 0 1 4
90
76
37
2
206
197
36
176
409
122
55
38
1
216
183
34
178
396
TOTAL ASSETS
615
612
96
90
13
1
200
110
90
9
1
210

In PhP M illions
Accrued retirement
As of
M ar 2 0 1 5
Dec 2 0 1 4
21
263
284
19
259
278
Total Liabilities
484
488
Equity
Capital stock
Retained earnings
Total Equity
50
2
79
131
50
2
71
123
615
611
37
EAST MANILA HOSPITAL MANAGERS CORP. (LOURDES)

In PhP M illions

Adjustments for:
Depreciation
Provision for doubtful accounts
Interest expense
Increase:
Receivables
Inventories
Increase in:
Retirement fund obligation
M ar 2015
M ar 2014
13
15
14
2
1
29
8
2
1
26
(24)
1
(1)
(22)
2
(15)
-
(5)
(1)
(2)
2
19

In PhP M illions

Decrease (Increase) in other noncurrent assets
Cash Flows from Financing Activity
Proceeds from subscription receivable
Net cash provided by financing activities
Net increase in cash and cash equivalents
M ar 2015
M ar 2014
(25)
(25)
(15)
4
(10)
38
5
4
9
(32)
5
(7)
(2)
7
122
112
90
118
38
ASIAN HOSPITAL INC.

BALAN C E SHEET
In PhP M illions
ASSETS
C urrent Assets
Receivables - net
Inventories - net
Prepaid expenses
As of
M ar 2 0 1 5
Dec 2 0 1 4
429
254
83
16
5
786
407
238
85
8
6
745
N oncurrent Assets
Property and equipment, net
Deferred income tax
Computer software - net
Other non-current assets
3 ,4 9 7
133
4
13
3 ,6 4 7
3,455
135
5
13
3,608
TOTAL ASSETS
4 ,4 3 4
4,353
1000000

In PhP M illions
Accrued interest
Long-term debts, currently due
Refundable deposits and other current liabilities
As of
M ar 2 0 1 5
Dec 2 0 1 4
550
36
257
37
880
478
27
257
71
833
Long-term debt - net of current
Other non-current liabilities
Total Liabilities
521
56
577
1 ,4 5 7
562
55
616
1,449
Equity
Capital stock
Capital stock in excess of par value
1 ,9 3 7
185
1,937
185
Subscription receivable
Retained earnings
Total Equity
(5 )
(8 )
868
2 ,9 7 7
(5)
(8)
794
2,904
4 ,4 3 4
4,353
39
ASIAN HOSPITAL INC.

CASH FLOW STATEMENT
In PhP Millions
Adjustments for:
Provisions
Depreciation
Amortization of capitalized borrowing cost
Interest expense
Others
Receivables
Inventories
Mar 2015
Mar 2014
106
93
(2)
59
1
21
(1)
184
5
72
1
26
198
(22)
2
(6)
5
17
(7)
14
(45)
4
176
30
198

In PhP Millions
Mar 2015
Mar 2014
(101)
(101)
(17)
1
(17)
(42)
(11)
(53)
(42)
(15)
(57)
22
125
407
352
429
477

Payment of long-term debt
Interest paid
0
-
40
DELOS SANTOS MEDICAL CENTER

BALAN C E SHEET
In PhP M illions
ASSETS
C urrent Assets
Receivables - net
Inventories - net
Prepaid expenses
As of
M ar 2 0 1 5
Dec 2 0 1 4
21
56
42
14
133
19
53
40
12
125
N oncurrent Assets
Deferred income tax
402
14
13
429
370
13
13
396
TOTAL ASSETS
562
522

In PhP M illions
Long-term debts, currently due
Refundable deposits and other current liabilities
As of
M ar 2 0 1 5
Dec 2 0 1 4
88
3
15
16
123
72
3
13
89
27
26
149
115
79
79
Capital stock in excess of par value

Deposit for future stock subscription
Retained earnings
Total Equity
160
117
1
57
413
160
117
1
50
406
562
522
Retirement Liability
Total Liabilities
Equity
Capital stock
1 ,0 0 0 ,0 0 0
41
DELOS SANTOS MEDICAL CENTER

CASH FLOW STATEMENT
In PhP Millions
Adjustments for:
Provisions
Depreciation
Receivables
Inventories
Other liabilities
Mar 2015
Mar 2014
9
1
13
23
1
10
20
(4)
(2)
(2)
14
(2)
17
(16)
1
17
32

In PhP Millions
Proceeds from long term debt
Payment of long term debt
Equity Infusion
Dividends
Mar 2015
Mar 2014
(44)
(44)
(65)
(65)
15
(1)
14
(2)
89
87
39
19
83
21
122
42
CENTRAL LUZON DOCTORS HOSPITAL

BALAN C E SHEET
In PhP M illions
ASSETS
C urrent Assets
Receivables - net
Inventories - net
Prepaid expenses
N oncurrent Assets
TOTAL ASSETS
As of
M ar 2 0 1 5
Dec 2 0 1 4
79
51
22
4
156
99
44
24
2
169
272
272
240
1
241
428
410

In PhP M illions
As of
M ar 2 0 1 5
Dec 2 0 1 4
91
77
9
25
11
44
8
25
12
45
135
122
99
99
Additional Paid-in Capital

Treasury stock
Retained earnings
Total Equity
70
(3 )
80
46
293
70
(3)
80
41
288
428
410
Deferred Income Tax
Dividends payable
Total Liabilities
Equity
Capital stock
1000000
1
43
CENTRAL LUZON DOCTORS HOSPITAL

CASH FLOW STATEMENT
In PhP Millions
Adjustments for:
Provisions
Depreciation
Receivables
Inventories
Mar 2015
Mar 2014
9
7
16
2
5
10
(7)
2
(2)
(1)
2
(11)
10
20
(2)
4
2

In PhP Millions
Mar 2015
Mar 2014
(39)
(39)
(11)
(1)
(12)
(1)
(3)
(20)
(13)
99
116
79
102

Dividends payment
(0)
0.12
44
MEGA CLINIC
BALAN C E SHEET
In PhP M illions
ASSETS
C urrent Assets
Receivables - net
Inventories - net
Prepaid expenses
N oncurrent Assets
Deferred income tax
TOTAL ASSETS
As of
M ar 2015
Dec 2014
14
53
2
9
78
14
48
2
6
70
18
8
18
44
18
8
17
43
122
114

In PhP M illions
Total Liabilities
Equity
Capital stock
Retained earnings
Total Equity
As of
M ar 2015
Dec 2014
67
10
78
53
16
70
2
2
4
82
1
4
5
75
66
(26)
66
(27)
40
39
122
114
1000000
45
MEGA CLINIC
CASH FLOW STATEMENT
In PhP Millions
Adjustments for:
Provisions
Depreciation
Receivables
Inventories
Prepayments
Mar 2015
Mar 2014
2
2
2
5
(7)
2
1
3
(2)
(6)
(1)
(3)
14
10
7
1

In PhP Millions
Mar 2015
Mar 2014

Payment of Loans
(2)
(1)
(3)
(6)
(1)
(7)
(1)
(1)
(4)
(4)
(3)
14
19
14
16
46

Metro Pacific 2015Q1

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Metro Pacific 2015Q1

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FIRST QUARTER 2015

INVESTOR RELATIONS TEAM (investorrelations@mpic.com.ph)

1Q 2015 1Q 2014 % Change

Diluted EPS on core income

14% growth in MPIC Share driven by:

14% GROWTH IN MPIC SHARE OF OPERATING INCOME

* Chart above does not include Pre-operating Rail Expenses

STAND-ALONE CORE INCOME VS MPIC SHARE

CURRENT PENDING ISSUES / OPPORTUNITIES

SCTEX received Notice

Connector Road Swiss

Maynilad has applied for

AF Payments first go-live

PORTFOLIO COMPANY RESULTS AND KEY PRIORITIES

MAYNILAD 1Q 2015 HIGHLIGHTS

Revenues increased by 2% due to:

Core EBITDA Computation:

3% increase in billed volume from 111.6 MCM to 114.7

6% increase in billed customers from 1,145,934 to

Decrease in average effective tariff from continued shift in

PhilHydro Gross Revenues of P43 million and Net Income of

KEY METRICS AND KEY PRIORITIES

Billed Volume (MCM)

Period End NRW

Seasonality of water consumption affects NRW

IMPLEMENTATION OF ARBITRATION DECISION

Maynilad calls on Governments (Department of

Maynilad sends a follow-up letter to the DOF

Maynilad serves Notice of Arbitration to the Philippine

MERALCO 1Q 2015 HIGHLIGHTS

Growth in Core Income was a function of:

2% growth in total energy sales from 7,908 GWh to

Growth in the number and volume of contestable

KEY METRICS AND KEY PRIORITIES

POWER GENERATION UPDATES

Environmental case resolved

EPC contract and financing to be renegotiated

Evaluating 2 x 600MW coal powerplant

EPC prequalification process completed

150MW CFB coal-fired plant is being built with target COD in 3Q

MPTC 1Q 2015 HIGHLIGHTS

Net Toll Revenues increased due to:

KEY METRICS AND KEY PRIORITIES

Average Kilometers Travelled (In thousands of kms)

Began operations in March 2015

Ongoing construction operational by 2017

HOSPITAL GROUP 1Q 2015 HIGHLIGHTS

Increase in gross revenues due to:

15% increase in Gross Revenues from Delos Santos

KEY METRICS AND KEY PRIORITIES

Total number of beds (Period end)

Number of accredited doctors

Invest in new equipment and renovations /

Average number of enrollees (YTD)

Average occupancy rate (YTD)

Mall-based diagnostic centers

MAYNILAD QUARTERLY HIGHLIGHTS

(In Millions of Pesos)

Revenues dropped due to decrease in billed volume

MERALCO QUARTERLY HIGHLIGHTS

(In Millions of Pesos)

Lower Revenues this quarter due to lower energy sales

Core EBITDA grew faster due to lower O&M expenses and

MPTC QUARTERLY HIGHLIGHTS (In Millions of Pesos)