Ginebra San Miguel Inc.

Statement of Financial Position

For the year ended December 31
(in thousands)

ASSETS 2020 2019 Peso Change % Change

Current Assets
Cash and cash equivalents 2,819,574 354,131 2,465,443 696.20%
Trade and other receivables - net 953,698 1,551,469 -597,771 -38.53%
Inventories 5,946,809 6,113,043 -166,234 -2.72%
Prepaid expenses and other current assets 1,154,046 1,080,723 73,323 6.78%
Total Current Assets 10,874,127 9,099,366 1,774,761 19.50%
Non-current Assets
Investment in joint ventures 4,451 57,963 -53,512 -92.32%
Property, Plant & Equipment - net 4,221,595 4,441,137 -219,542 -4.94%
Right of use assets - net 156,597 196,218 -39,621 -20.19%
Goodwill - net 126,863 126,863 0 0.00%
Deferred tax assets - net 582,807 567,944 14,863 2.62%
Other non-current assets - net 87,606 169,731 -82,125 -48.39%
Total Non-current Assets 5,179,919 5,559,856 -379,937 -6.83%
TOTAL ASSETS 16,054,046 14,659,222 1,394,824 9.51%

LIABILITIES AND EQUITY

Current Liabilities
Notes payable - 1,519,000 -1,519,000 -100.00%
Accounts payable and accrued expenses 5,146,148 4,208,502 937,646 22.28%
Lease liabilities - current portion 31,724 67,980.00 -36,256 -53.33%
Income and other taxes payable 377,018 346,417 30,601 8.83%
Current maturities of long- term debt
- net of debt issue costs 165,417 233,791 -68,374 -29.25%
Total Current Liabilities 5,720,307 6,375,690 -655,383 -10.28%
Non-current Liabilities
Long-term debt - net of current maturities
and debt issue costs 330,847 642,964 -312,117 -48.54%
Retirement liabilities 404,797 363,083 41,714 11.49%
Lease liabilities - net of current portion 146,036 157,684 -11,648 -7.39%
Total Non-current Liabilities 881,680 1,163,731 -282,051 -24.24%
TOTAL LIABILITIES 6,601,987 7,539,421 -937,434 -12.43%
Equity
Capital stock 399,063 399,063 0 0.00%
Additional paid-in capital 2,539,454 2,539,454 0 0.00%
Equity reserves - 400,215 - 311,470 -88,745 28.49%
Retained earnings
Appropriated 2,500,000 2,500,000 0 0.00%
Unappropriated 7,083,730 4,662,727 2,421,003 51.92%
Treasury stock - 2,669,973 - 2,669,973 0 0.00%
TOTAL EQUITY 9,452,059 7,119,801 2,332,258 32.76%
TOTAL LIABILITIES AND EQUITY 16,054,046 14,659,222 1,394,824 9.51%