Sm Prime Holdings, Inc. · PSE:SMPH
Sm Prime — 2Q 2026 Earnings Presentation
29 slides from Sm Prime's earnings presentation, Aug 10, 2026
Slide 1: Second Quarter / First Half 2026 Analyst and Investor Briefing
SECOND QUARTER / FIRST HALF 2026 ANALYST AND INVESTOR BRIEFING August 10, 2026
Slide 2: Featured Property: voco Xiamen SM City
FEATURED PROPERTY voco Xiamen SM City The first voco hotel under IHG Hotels & Resorts (IHG®) in Fujian Province has officially opened in Xiamen. Connected to SM Xiamen, Fujian’s largest commercial complex, the hotel offers 325 stylish rooms and suites that combine Southeast Asian aesthetics with loc
Slide 3: Disclaimer
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 juri
Slide 4: Outline
OVERVIEW HIGHLIGHTS 5 6 OUTLINE SEGMENTS UPDATES OUTLOOK 10 16 17 4
Slide 5: Overview
OVERVIEW We are the largest integrated property developer in the Philippines, with a strategic presence in China. Our diversified and synergistic portfolio positions us strongly for sustained growth and value creation. P518B MARKET CAPITALIZATION P1,119B CONSOLIDATED ASSETS P475B TOTAL EQUITY All fi
Slide 6: Consolidated Highlights
CONSOLIDATED HIGHLIGHTS 2Q 2026 1H 2026 9% 5% • Strong performance across commercial Revenue properties P38.4B P71.7B • Lower costs and expenses helped offset 9% 5% cyclical softness in the residential market EBIT P19.3B P36.1B • Rental income from malls, offices, Net Income +1% 0% hospitality and M
Slide 7: Capital Structure
CAPITAL STRUCTURE Our robust trillion-peso balance sheet and conservative 46:54 net debt-to-equity ratio provide significant financial flexibility to fund sustainable growth and navigate evolving market conditions. ASSET GROWTH LIQUIDITY POSITION DEBT AND LEVERAGE P1,119.5B P39.2B P430.6B TOTAL ASSE
Slide 8: Strong Balance Sheet and Prudent Capital Management
STRONG BALANCE SHEET AND PRUDENT CAPITAL MANAGEMENT Healthy balance sheet and careful cash flow management, backed by disciplined investment assessment on land banking and project developments (2) Total debt / EBITDA and net debt / EBITDA (1) SMPH maturity schedule 76 77 5.77x 5.08x 60 60 4.95x 4.75
Slide 9: Revenue Contribution per Segment
REVENUE CONTRIBUTION PER SEGMENT In Php mn 2Q 2026 2Q 2025 % CHANGE 1H 2026 1H 2025 % CHANGE Malls 21,382 19,728 8% 41,833 38,654 8% Residences 12,324 11,222 10% 20,628 20,919 -1% Hotels and CC 2,260 2,081 9% 4,447 4,110 8% Offices 2,580 2,375 9% 5,052 4,624 9% Total Revenue 38,380 35,270 9% 71,659
Slide 10: Malls
MALLS In Php mn 1H 2026 1H 2025 % CHANGE For PH malls only 1H 2026 1H 2025 % CHANGE Revenue 41,833 38,654 8% Total GFA (in mn sqm) 9.8 9.5 3% PH Malls Rental Income 31,050 29,958 7% Total GLA (in mn sqm) 5.1 5.0 3% Others 10,782 9,696 11% Occupancy Rate (long-term) 96% 96% 0pp EBIT 24,625 22,013 12%
Slide 11: Residences
RESIDENCES In Php mn 1H 2026 1H 2025 % CHANGE 1H 2026 1H 2025 % CHANGE Real estate sales, Reservation Sales (in Php mn) 24,754 25,873 -4% rentals and other 20,628 20,919 -1% Inventory (in units) 29,791 27,275 9% revenues 8,411 -18% Inventory sales value (in Php bn) 200,358 174,616 15% EBIT 6,886 EBI
Slide 12: Hotels and Convention Centers
HOTELS AND CONVENTION CENTERS In Php mn 1H 2026 1H 2025 % CHANGE HOTELS 1H 2026 1H 2025 % CHANGE Revenue 4,447 4,110 8% Room Keys 2,602 2,602 0% EBIT 1,078 910 19% Occupancy Rate 67% 62% +5pp EBITDA 1,510 1,316 15% Average Daily Rate 6,238 5,680 1% REVENUE BREAKDOWN CONVENTION CENTERS 1H 2026 1H 202
Slide 13: Offices
OFFICES (In Php mn) 1H 2026 1H 2025 % CHANGE OFFICES 1H 2026 1H 2025 % CHANGE Revenue 5,052 4,624 9% GFA (in mn sqm) 1.6 1.6 5% 3,092 13% 3PO 55 GLA (in mn sqm) 0.9 0.8 3% EBIT 3,483 STANDALONE OFFICES 07 MALL-ADJACENT OFFICES 15 WAREHOUSES +6pp EBITDA 4,452 4,007 11% Occupancy 05 Rate 77% 71% Offic
Slide 14: Pasay 360
PASAY 360 100% 90% 1% ongoing on track done done done SM Prime’s most transformative integrated property development— Land Filling and Soil Stabilization Infrastructure Land Project Turnover an unprecedented urban estate that Formation Revetment Works and Planning and Titling Ground Improvement fuse
Slide 15: Strategic Updates
STRATEGIC UPDATES We remain committed in driving organic growth and expanding into new markets. MALLS HOTELS AND CONVENTION CENTERS 3PO 55 Recently opened SM Seaside STANDALONFICES 07 On schedule to open SMX Convention Cebu ArenaMALL-ADJACENT driving foot trafficOFFICES and Center Seaside Cebu this
Slide 16: Outlook
OUTLOOK MALLS RESIDENCES HOTELS AND OFFICES CONVENTION CENTERS Scheduled to open SM Set to turnover Balea On-track to open SMXCite Set to open North Tower Nuvali in Sta. Rosa in Suites at Pico Terraces in in Mall of Asia Complex, 3 , adding almost 30,000 Laguna in 4Q 2026. Hamilo Coast by 4Q Pasay C
Slide 17: Q&A
Q&A 17
Slide 18: Closing Remarks
CLOSING REMARKS CLOSING REMARKS JEFFREY C. LIM NOEL E. TORRES President Executive Vice President • Replace JCL photo 23
Slide 19: Appendix
APPENDIX FINANCIAL OTHER BUSINESS ESG STATEMENTS UPDATES HIGHLIGHTS 20 24 26
Slide 20: Income Statement
INCOME STATEMENT Condensed, Unaudited In Php mn, except EPS 1H 2026 1H 2025 Revenues 71,659 68,044 Cost and Expenses 35,587 33,618 Operating Income 36,072 34,426 Other Charges -6,066 -4,183 Income Before Tax 30,066 30,243 Provision for Income Tax 5,072 5,364 Net Income 24,995 24,879 Net Income Attri
Slide 21: Balance Sheet
BALANCE SHEET Condensed, Unaudited ASSETS (in Php mn) 1H 2026 FY2025 LIABILITIES & EQUITY (in Php mn) 1H 2026 FY 2025 Cash & Cash Equivalents 26,883 27,645 Loans Payable and Current Portion of Long-term debt 90,440 99,295 Equity instruments at FVOCI 16,946 19,008 Accounts Payable & Other Liabilities
Slide 22: Cash Flow Statement
CASH FLOW STATEMENT Condensed, Unaudited In Php mn 1H 2026 1H 2025 Net cash from operating activities 39,207 33,591 Net cash used in investing activities -24,531 -35,116 Net cash used financing activities -15,517 -1,867 Currency Translation Impact 79 -4 Cash and cash equivalents at end 26,883 27,850
Slide 23: Capex and Trend Breakdown
CAPEX AND TREND BREAKDOWN In Php bn 2022 2023 2024 2025 1H 2025 1H 2026 YoY Malls 21.31 32.95 30.90 29.62 13.29 12.84 -3% Residences 36.75 25.49 23.13 16.93 6.35 9.91 56% Commercial and Integrated Commercial Development 11.44 22.16 25.28 33.05 16.94 5.90 -65% Hotels and Convention Centers 1.11 1.78
Slide 24: Landbank
LANDBANK Geographically diverse land bank in key growth areas, suited for mixed-use development. Strategic acquisitions to support expansion and portfolio growth. Visayas Commercial and Integrated 6% Malls Commercial Development 44% 7% Mindanao 6% 4,165 NCR 4% BY BY BUSINESS LOCATION HECTARES SEGMEN
Slide 25: Share Buyback Program
SHARE BUYBACK PROGRAM UTILIZATION RATE VS. PROGRAM DETAILS AUTHORIZED CAP (P10B) Authorization Date December 09, 2024 Total Authorized Amount P5 billion - P10 billion EXCECUTION SUMMARY 47.7% Execution Period (Start–End Dates) as of end Jun 2026 April – June 2026 Total Shares Repurchased 96,192,200
Slide 26: Environmental
ENVIRONMENTAL Under its Water for Tomorrow Slated to open by 4Q 2026, campaign , SM malls recycle SM Nuvali, is being positioned sewage, treating 6.6 million m³ to as a premier mall with yearly for reuse across 89 malls. sustainability embedded in its SM Cares marked Earth Day with design and operat
Slide 27: Social
SOCIAL Henry Sy Sr. Hall Book Nook: Partner of the Year SM Prime inaugurated the Henry Sy Sr. Hall at The Autism Society Philippines named SM San Francisco High School in Quezon City, a new Book Nook its Autism Works Partner of the four-story, 24-classroom facility under its Adopt- Year, honoring it
Slide 28: Governance
GOVERNANCE Asia -Pacific Stevie Awards 2026 SM and ARISE PH with Partners Aim to Accelerate Resilience SM Prime and ARISE Philippines brought SM Supermalls was named Organization of together key partners to accelerate disaster the Year, earning multiple awards for its resilience and technology-enabl
Slide 29: Thank you for attending.
Thank you for attending. INVESTOR RELATIONS T: (02) 8 862-7942 E: [email protected] WWW.SMPRIME.COM