1

Our Mission
Ayala Corporation, a holding company with a diverse business portfolio, has a legacy of pioneering the future. Founded in 1834, it has achieved its position of leadership by being values driven, goals oriented, and stakeholder focused.
Anchored on values of integrity, long-term vision, empowering leadership, commitment to national development, we fulfill our mission to ensure long-term profitability, increase shareholder value, provide career opportunities, and create synergies as we build mutually beneficial partnerships and alliances with those who share our philosophy and values. With entrepreneurial strength, we continue to create a future that nurtures to fruition our business endeavors and personal aspirations.

 Ayala Corporation was founded by two pioneering and visionary individuals in 1834 (Domingo Roxas & Antonio de Ayala)
Ayalas pioneering history is inextricably linked to that of the countrys and to the development of its key industries 1834: Introduced first commercial distillery in the country 1851: Established presence in Banco Espanol Filipino, the first commercial bank in the Philippines and in Southeast Asia, later branching out into life and nonlife insurance 1876: Pioneered the countrys first public transport (Tranvia)

1920s 1930s: Pioneered in large-scale, masterplanned real estate development, transforming a vast track of land into the countrys first and premiere business district 1970s: Forged partnership with Mitsubishi Corporation; listed in the Philippine Stock Exchange 1980s: Expansion and growth of real estate and banking businesses; established presence in electronics manufacturing 1990s: Invested in mobile telecommunications network and privatization of Manilas water distribution infrastructure; established Honda & Isuzu automotive dealerships 2000: Invested in business process outsourcing sector 2011: Investing in Power and Transport Infrastructure Sector

Ayala Group Overview

Our portfolio of assets consists of our core businesses, international, and new ventures

CORE BUSINESSES: Expand Aggressively

50.2%

INTERNATIONAL: Turn-Around
58.0%

NEW BUSINESSES: Scale-Up

100.0%

Largest and only full line property developer in the country

24th of the top 50 EMS companies in the world

44.0%
Most profitable bank among peers

100.0% 30.5%
Second largest telco company in the country

Top 5 in CRM Top 3 in KPO Top 3 in Graphics Design Outsourcing

100.0%

43.2%

Manila Water

Pioneer in water infrastructure development

5

AYALA IS SCALING-UP ON NEW GROWTH PLATFORMS, SPECIFICALLY IN POWER AND INFRASTRUCTURE

Equity investments will double in the next five years
Investments US$ Billions
(total over last 5 years vs. total over next 5 years)
POWER: ~US$100-200M annually on power projects over the next five years Target 1,000MW over 5 years of renewable and conventional power assets INFRASTRUCTURE: ~US$300-US$500M allotted for PPP projects , focusing on airport, rail and toll-road projects Forging strategic partnerships with local and foreign entities

2x

1.0
0.2
Others

0.5
BPO AG Holdings MWC Others 0.2 0.1 0.1 0.1 2007-2011

0.5

Power

0.3

Infrastructure

We are seeking a combination of acquisitions and green-field investments to optimize cash and earnings
6

2012-2016

POWER:
Committed US$150M of equity on over 300MW of capacity CONVENTIONAL ENERGY

RENEWABLE ENERGY

NORTHWIND POWER CORP. 50% 33MW windfarm Expansion potential of over 60 MW

SOUTH LUZON THERMAL ENERGY CORP. (Batangas) 50%

2x135 MW CFB Phase 1 target operations in 2014 2x135 MW CFB

PHILNEWHYDRO GROUP 70% 100+ MW of approved service contracts

PALM CONCEPCION POWER CORP. (Panay) Signed MOA 40%

PHILNEWENERGY 50% 35 MW of approved service contracts

Robust pipeline of acquisition and greenfield opportunities in renewable and conventional technologies

 Group-wide revenues of close to P250B in 2011, equivalent to nearly 3% of Philippine GDP Total group net income of close to P35 B in 2011 Combined market cap of listed companies of over $25bn, accounting for 20% of Phisix Core businesses in real estate, banking, telecom and water are top 1 or 2 in their respective industries Over 50,000 employees worldwide

Ayala Corporation Consolidated Net Income

16,257
(in million pesos)

11,161 8,109 8,154 9,395

2007

2008

2009

2010

2011

PARENT DEBT PROFILE

(as of September 30, 2012)

Ayala has the financial strength to enable growth

We have a strong balance sheet that can support our sizeable investments
in billion US$ Gross Debt* Cash Net Debt As of 09.30.12 1.15 0.70 0.47 As of 12.31.11 0.99 0.41 0.58

Net Debt to Equity Ratio

0.16:1

0.24:1
*Excludes preferreds

We leverage different funding sources to generate cash

Low net D/E ratio (0.16)
Healthy cash balance to fund projects in the next 12-18 months Capacity for additional leverage in the next 5 years as dividend flows and earnings increase

Proceeds from potential asset sales preferreds *excludes P6B

AYALA FORGES STRATEGIC PARTNERSHIPS TO ENABLE GROWTH

We continue to strengthen and expand our strategic partnerships with a broad range of organizations to ensure the right sets of skills and capabilities for every business
KEY INTERNATIONAL STRATEGIC PARTNERS KEY DOMESTIC STRATEGIC PARTNERS

ALI

BPI
GLOBE MWC IMI LiveIt AC Energy AC Infra
CII
22

CII

HFIC

Strong track record of long-term partners, both local and international