GT Capital Holdings Investor Update FINAL

GT Capital Holdings, Inc.
Investor Update
January 2013
Free Powerpoint Templates
Page 1
The information in this presentation has been prepared by GT Capital Holdings, Inc. (the "Company"). By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations and represent that you are a person who is permitted under applicable law and reputation to receive information contained in this presentation. The information communicated in this document contains certain statements that are or may be forward looking. These statements typically contain words such as "will," "expects" and "anticipates" and words of similar import including those relating to general business plans and strategy of the Company as well their subsidiaries and associates. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in the Company's business, its competitive environment, its ability to implement its strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in the Philippines. There may be additional material risks that are currently not considered to be material or of which the Company and its advisors or representatives are unaware. The Company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments. No representation or warranty, express or implied, is made as to, the Company does not accept any liability or responsibility for and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither the Company nor any of the Company's advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may materially change. Certain market information and statistical data included herein have been obtained from sources that the Company believes to be reliable but in no way are warranted by the Company nor any of the Company's advisors or representatives as to accuracy or completeness. This presentation is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither the Company nor its advisors are under an obligation to update, revise or affirm. THIS PRESENTATION AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE A PROSPECTUS, OFFERING CIRCULAR OR OFFERING MEMORA NDUM OR AN OFFER, OR A SOLICITATION OF ANY OFFER, TO PURCHASE OR SELL ANY SECURITIES, AND SHOULD NOT BE CONSIDERED AS A RECOMMENDATION T HAT ANY INVESTOR SHOULD SUBSCRIBE FOR OR PURCHASE ANY SECURITIES OF THE COMPANY. This presentation is strictly confidential to the recipient, may not be reproduced, retransmitted or further distributed to the press or any other person, may not be reproduced in any form and may not be published, in whole or in part, for any purpose. Neither this document nor any copy of it should be distributed in any country where such distribution may lead to a breach of any law or regulatory requirement. Distribution of this document in the United States, Australia, Canada or Japan may constitute a violation of United States, Australian, Canadian or Japanese securities law. Neither this presentation nor any of its contents may be used for any other purpose without the prior written consent of the Company. The securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or under the applicable securities laws of Australia, Canada or Japan, and may not be offered or sold within the United States unless they are registered under the Securities Act or pursuant to an exemption therefrom, or in a transaction not subject to the registration requirements of the Securities Act and, subject to certain exceptions, may not be offered or sold within Australia, Canada or Japan or to any national, resident or citizen of Australia, Canada or Japan. No public offer of securities by the Company is being made in the United States, Australia, Canada or Japan.
Page 2
GT Capital Overview
GT Capital is the primary vehicle for the holding and management of the Philippine businesses of the Ty family
Market-leading businesses in five key segments of the economy
Real Estate Development Banking Power Generation
Strong local business partner for global investors Well-established reputation and credibility Trust and confidence from all major stakeholders Large geographic footprint in key segments of the Philippine economy
Established track record in growing businesses

In-depth knowledge of local business environment
Automotive
Insurance
Combining local talent and expertise with the technology and resources of leading global business partners
Listed on the PSE since April 2012, market cap of US$2.1bn
Well-positioned to strongly benefit from sustained growth in domestic consumption in the Philippines
Focused on consistent promotion of synergies across businesses Continuous evaluation of new business initiatives and future growth prospects Firmly rooted in the corporate values of integrity, competence, respect, entrepreneurial spirit and commitment to value creation
Page 3
GT Capitals Businesses
Diversified range of market-leading businesses across five key segments of the economy
1 Best Bank in the
Philippines, Euromoney 2010, 2011, 2012
Exclusive property development company of the Ty family Track record of landmark developments with 30 ongoing projects One of the fastest growing real estate developers nationwide Over 100 has. land bank in prime locations
2 Second largest
One of the largest independent power producers in the Visayas, established in 2002 627MW of gross dependable capacity (480MW net to GBP), of which 410MW came onstream in 2011 Near-term projects include 82MW TPC and 82-150MW PEDC plant expansions
1 Largest automotive
3 Third largest life

insurance company in the Philippines2
company in the Philippines, market share of 35.7% as of Oct 2012

commercial vehicle and overall sales annually since 2002
1 Pioneer in
bancassurance
Philippine bank by book capitalization (14.3% Tier 1 Capital, 18.3% CAR1)

by asset size and loans1
1 Highest passenger,
Strong synergies with Metrobank in bancassurance with 400 branches

brand (Interbrand, 2011)
2 Second largest bank
1 Top global automotive
brand (WPP, 2011 and Interbrand, 2011)
1 No.1 global insurance
Note: 1 As at September 30, 2012 2 By Premium Income
Page 4
Delivering on our IPO roadmap and strategies

Use of proceeds announced at IPO GT Capitals four core strategies
Repayment of existing debt
1
Acquisition of additional 20% stake in Fed Land Capital expenditures for acceleration of key growth projects
Unlock organic growth potential of all GT Capitals current businesses
Consolidate GT Capitals ownership of the GT Capital companies
Acquisition of 4.6% of GBP through exercise of option (to 39.0%) Increase GBP ownership to 51.0% Toledo plant expansion
Profitable new business opportunities via partnership model
Further optimize synergy creation among the GT Capital companies
Page 5
Delivering growth in YTD 9M 2012

GT Core Net Income up +51% YoY Inclusive of extra-ordinary gain of PHP1.4 B;
Net Income up +107% YoY
PHP 3.9 B PHP 5.3 B
Driven by business units: TMP AXA
GBP
FED Land MBT
+17% Volume growth on normalization of supply +22% Premium Income growth +25% Net Fees from full operations of PEDC and CEDC +40% Core Revenues; +76% Total Revenues +15% Net Income growth from core banking
and cost rationalization
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6
Continued ownership consolidation
Phase 1 of consolidation (using IPO proceeds)
25.1 %
80% 100%
34.4% 39.0% 51.0%
21.0%
25.3%
49.0% 98.1%
30.0%
28.2%
Phase 2 of consolidation (as envisaged during IPO)
Page 7
TMP Acquisition
Driven by Independent Directors ING N.V. as Transaction Advisor
KPMG consultant for Metrobank Grant Thornton consultant for GT Capital

Endorsed by respective Related Party Transaction and Governance Committees to their Board of Directors Parties have agreed to the sale and purchase of 30% TMP shares Sale and Purchase Agreement to be signed early December Upon completion of GT Capitals purchase: Direct ownership increases from 21% to 51% TMP to be consolidated into financials of GT Capital
Page 8
MSCI Inclusion
Geneva, November 14, 2012 MSCI GLOBAL SMALL CAP INDICES The following are changes in constituents for the MSCI Global Small Cap Indices which will take place as of the close of November 30, 2012.
Source:
MSCI
Page 9
FEBRUARY 20 2013 FOUR SEASONS HOTEL HONG KONG
For proving that a big listing is possible in a thinly traded market, GT Capitals US$456m IPO is IFR Asias Philippines Capital Markets Deal of the Year.
- IFR Asia Review of the Year 2012
Page 10
Equity Placement
Php14.3 billion (USD350 million) raised
Attracted over 100 global investors More than 3X oversubscribed

Increased free float from 30% to 40% Largest ever overnight placement executed in the Philippines
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11
YTD 9M 2012 Updates By Business
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12
Delivering growth in YTD 9M 2012

GT Core Net Income up +51% YoY Inclusive of extra-ordinary gain of PHP1.4 B;
Net Income up +107% YoY
PHP 3.9 B PHP 5.3 B
Driven by business units: TMP AXA
GBP
FED Land MBT
+17% Volume growth on normalization of supply +22% Premium Income growth +25% Net Fees from full operations of PEDC and CEDC +40% Core Revenues; +76% Total Revenues +15% Net Income growth from core banking
and cost rationalization
Page 13
13
GT is outperforming strong markets

Industry GT Capital Business
Auto Banking
+7.5% units (CAMPI and AVID:

October)
3.47% Average NIMs1 18.0% Average CAR1 +16% Premium Income

540,000 backlog mid-market
(HLURB)
Insurance
Property
150,670 supply (Jones Lang

Lasalle Leechiu)
+17.2% TMP unit sales (October) +41% Net Income +15% MBT Net Income 3.75% Net Interest Margin 18.3% CAR +22% AXA Premium Income +40% Fed Land Core Revenue +76% Total Revenue
Power
1
+5% DOE Visayas Peak Demand +25% GBP Net Fees

14
Average Net Interest Margin and CAR among Top Three Banks
Page 14
Automotive - TMP
Page 15
15
Automotive Industry Updates

Passenger Car Density in the Philippines
Cars per 1,000 population (Units)
Growth Rates in Vehicles Sales between 2006 to 2010 Amongst ASEAN 4

14.2
30 25 20 24
16
14 12 10 8 6 4 2 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 10.2 10.7
10.7
10.8
11.2
11.6
12.1
12.8
13.5
(% )
15 10
14
5 5 0
2015 Source:
Indonesia
Philippines
Malaysia
Thailand
Source:
Business Monitor International (BMI), UBS Investment Research
Board of Investments
Passenger Car Density in ASEAN 4

Vehicle Ownership per 1,000 population
350 300 250 200 150 100 50 0 2006 2007 2008 2009 2010 10 37 60 42 11 64 255 260 275
Patterns in the Growth of Vehicle Ownership

1,000 900 High income
Cars per 1,000 population (Units)
800 700 600 500

400 300 200 100 0 3,000 10,000 20,000 Per Capita Income (USD) 30,000 40,000 Low income Mid-income
290
299
45 11
65
48 11
67
52 11
70
Philippines Indonesia
Source:
Thailand
Malaysia
Business Monitor International (BMI), UBS Investment Research
Source: Institute for Transport Studies, University of Leeds Free Powerpoint Templates
Page 16
16

Philippine automotive market grew at a CAGR of 10.5% between 2006 and 2012
200
170 Sales (000s units) 150 118 100 132 29
35 28
Growth rate (%)
182
165
124
20
21
14 7
100
18 50 3 6 0 2006 2007 2008 2009 2010 6 -14 2011 2012
The auto industry growth +10.6% volume As of December 31, 2012, TMP record sales 65,396 units TMPs market share 35.8% TMP unit sales up +19.8%
October all time record high sales of TMP: 6,946 units

As of Dec. 31, 2012 Toyota Total Market Share 35.8% 19.1% 12.0% 6.9% 6.4%
2011 vs. 2012 : Brand-new Vehicles Sales Volume: TMP vs. Top 5 Competitors
70,000
65,396
54,593
34,915
Mitsubishi
32,603
52,500
21,996
Hyundai
20,297 12,916
12,653
11,611
35,000
Honda
9,820
11,759
10,902
Isuzu
17,500
Ford/Mazda
Kia
6.0%
4.1% 3.5% 2.5%
2012
TMP
Source:
2011
Hyundai Honda Isuzu
Nissan Suzuki
Mitsubishi
Ford/Mazda
Toyota Financials, CAMPI and AVID
Page 17
17

Yen Dollar Outlook 2012 to 2016 (Survey of 50 Banks)
88.0
86.0
Total Industry Sales Up During Election Years

Year Sales Unit 99,541 117,903 124,449 %Growth 2.6% 18.4% 5.6%
86.0
84.0
85.0 83.0 82.0
84.0
2006 2007 2008
In JPY
82.0 80.0 78.0 76.0 74.0 79.4
80.1
79.0 78.0
81.0 80.0
2009
2010 2011 2012E
132,444
170,267 165,194 185,000
6.4%
28.6% -3.0% 12.0%
Source:
Bloomberg
Source:
Company figures
Peso Dollar Outlook 2012 to 2016 (Survey of 22 Banks)

44.0 43.0 42.0 41.0 40.0
43.0 42.8 41.7 41.5 41.2 41.0 40.5 40.4
In PHP
40.8 40.2 39.2
39.0
38.0 37.0 Vios
Innova
Source:
Bloomberg
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TMP Models Launched in 2012
New Dealerships from 31 to 43 until 2013 outside NCR
2012 New Model Launched: 86

2012 Improved Models: Prius C Avanza Land Cruiser Innova Camry
86
Prius C Free Powerpoint Templates
Page 19
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TMP Financial Highlights

Revenue 60,000
Financial Results
52,045
50,000
40,000
40,639
Revenue increased +28.1%
(PHP m)
30,000
20,000
10,000 0 2011 9M 2012 9M
Increase in volume +17.2% Normalization of vehicles and parts supply Favorable model mix Aggressive sales and promotion
Net Income and Net Income Margin (%) 2,500 2,000 (PHP m) 1,500 1,000 500 0 2011 9M
Source: Company Financials
6%
Net Income increased by
4.3% 1,743
4.8% 4%
2,464
+41.4% to PHP2.5 B
Net Income Margin increased to 4.8%
2%
0% 2012 9M
Page 20
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TMP Financial Highlights

Globally trusted brand High resale value (up to 50% of original value within 5 years) Availability of original parts, supplies and service Corporate policy of manufacturing original parts for models discontinued up to 10 years Best-selling models predominantly used for business purposes
Toyota Camry
1.451 - 2.097 Corolla 0.809 1.155 Vios
In Million PHP Model

Price Model Price Model
Hyundai Sonata
1.388 1.608 Elantra 0.818 - 0.958 Accent
Honda Accord
1.7 2.07 Civic 0.908 1.165 City
Mitsubishi
Lancer 0.825 1.295
Price
Model Price
0.584 0.88
Hiace 1.275 1.965
0.618 0.828
Starex 1.283 2.728
0.746 0.836
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21
Banking - MBT
Page 22
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Banking Industry Updates 9M 2012

Consolidated Assets
1200 1000 In Billion PHP 800
Net Interest Margin

4.0
1,174 954
3.75% 3.44%
3.22%
867
%
600 400 200 0
3.0 2.0
1.0
0.0
BDO
Source:
MBT
BPI
Source:
MBT
BPI
BDO
SEC17Q as of September 30, 2012
Loans and Receivables

1000 In Billion PHP 800 600 400 200 0
Bank lending rose

481 475
709
+13.5% in the 9M from

PHP2.64T to PHP3.003T
Source: Banko Sentral ng Pilipinas, Philippine Daily Inquirer
BDO
Source:
MBT
BPI
Page 23
23
Recent Awards and Recognitions

Best Bank in the Philippines Euromoney Awards 2010, 2011, 2012
Strongest Bank in the Philippines & 20th Strongest in Asia-Pacific The Asian Banker 2011
Corporate Governance Asia Annual Recognition
Corporate Governance 2005-2011
Straight Through Processing Award

Commerzbank (2008, 2011), Standard Chartered Bank & BNY Mellon, 2011
Best Performing Local Government Securities Eligible Dealer

Bureau of Treasury 2011
Trusted Brand Gold

Readers Digest 2004-2012
Page 24
24
MBT Financial Highlights

Net Income
12,000
Financial Results
10,218
8,872
Net Income +15.2% to PHP10.2 B

Total operating income +8.9% to PHP41.0 B Net interest income +6.7% to PHP23.0 B
9,000 (PHP m)
6,000
3,000
2011 9M 2012 9M
NPL ratio 2.2% from 2.5%

30-Sep-12 58% 42% 30-Sep-11 52% 48%
Deposit Mix Low Cost (Demand and Savings) High Cost (Time)
Basel II Capital Adequacy

20.0
Annualized Return on Average Equity

18.3 16.9
16.0
15.0
Tier 1 Total CAR
15.0
12.3
10.0
12.2
10.0
13.2 11.4
5.0 5.0
10.0
14.3
2010 Q3
2011 Q3
2012 Q3
2010 9M
2011 9M
2012 9M
25 Page 25
Real Estate Fed Land
Page 26
26
Real Estate Industry Updates

Mid-End High-End PHP1.5 - PHP10 M > PHP10 M
Board Rates Range (Nov 2012) Mortgage Loan

Fixed Low 7.50% 8.00% 9.50% Mid 7.75% 8.75% 9.75% High 8.00% 9.00% 10.00% 1-Year 5-Year 10-Year
13.5 yrs
6.5 yrs
in units
High-End Mid-End
1999-1H12
3,690 126,230
2H12-2018E
4,960 145,700
Metro Manila Population

15
14
11
Total
Source:
129,920
150,670
In Millions 10
Jones Lang LaSalle Leechiu Metro Manila Real Estate Overview, 2012
Housing backlog of 3.6 M units. Increasing demand from BPO sector BPO offices allocate 6 sqm per employee BPO workers expected to increase from 772,000 to 1.3 million in 2016 resulting in 264,000 sqm in new office space per year High-end residential demand by OFWs and provincialbased buyers
0 Day Night
3 M daily commuters to MM drive residential condo demand
Source: Jones Lang Lasalle Leechiu, Business Processing Association of the Philippines
Source: David Leechiu, Philippine Star
Page 27
27
Veritown Fort Bonifacio
Page 28
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Fed Land Projects Launched in 2012

Six Senses Resort
Pasay
Marco Polo Parkview

Cebu City
Florida Sun Estates

Gen. Trias Cavite
Big Apple Park West

Fort Bonifacio
Four Season Riviera

Binondo, Manila
Peninsula Garden Midtown Homes

Paco, Manila
Capital Towers
E. Rodriguez, Quezon City
Page 29
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Fed Land Financial Highlights

Total Revenue
5,000 4,000 (PHP m) 3,000 2,000 1,000
Financial Results
4,582
Core revenues increased by +39.6% to PHP1.8 B. Total revenues increased by +76.0% including PHP1.4 B non-recurring income
Total Reservation Sales +49.5% to PHP11.4 B YTD October 2012 19 projects ongoing and 10 projects launched in 2012 Total units available for the 29 projects: 8,619 units with unit sizes ranging from 18 sqm. to 400 sqm.
2,604 1,288
2,746
1,836 1,316
0 2011 9M Real estate sales 2012 9M Others
Net Income Attributable to Parent
2,000
1,500 (PHP m)
1,887
Excluding the non-recurring income, core net

income increased by
+33.7%
1,000
1,448
329 439
2012 9M
Including the non-recurring income, Net Income up +474.2%
500
0 2011 9M
Page 30
30
Fed Land Financial Highlights

Reservation Sales
14.0 In Billion PHP
12.0 10.0
8.0 6.0 4.0 2.0 Jan
0.7 1.1
October 2011 Reservation Sales: PHP7.7B October 2012 Reservation Sales: PHP11.4B YoY: 49.5%
7.0 6.1 5.1 3.9 1.5 3.3 4.0 4.8
11.4 10.2 9.1 8.0 6.8 5.9
7.6
2.3
2.1
2.5
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
2011
2012
Reservation Sales and Booked Sales
12.0 10.0 8.0 6.0 4.0 2.0 Source:
In Billion PHP
Cumulative Unbooked Revenues: PHP17.6B
9.1
10.2
4.2 2.3 1.3
2.3
2010
Reservation Sales
2.7
1.8
2012 9M
31
2009
Company Financials
2011
Booked Sales
Page 31
Power GBP
Page 32
32
Power Industry Updates

Demand Updates
As of Nov 16, 2012 (in MW)
Supply Updates
Luzon 8,064 Visayas 1,538 Mindanao 929
System Capacity
System Peak
Reserve
Source:
7,302
762
1,409
129
1,193
-264
National Grid Corporation of the Philippines
DOEs Philippine Peak Demand Projection

2009 2030 AAGR:
Luzon: +4.41% Visayas: +4.97% Mindanao: +4.86%
18,000
Luzon
Visayas
17,636
Current Power Supply Luzon: 11,869 MW (sufficient until 2016) Visayas: 2,393 MW (sufficient until 2016); Mindanao: 1,971 MW (needs new capacity from now to 2013) Power Updates New Feed-in Tariff (FIT) rates Solar : 9.68/kWh Wind: 8.53/kWh Biomass: 6.63/kWh Hydro: 5.90/kWh GBPC Visayas Market Share: 40% Capacity expansion in Visayas For completion (Dec 2014): 82 MW coal-fired plant in Toledo 82-150 MW coal-fired plant in Panay
13,500
Mindanao
(MWh)
10,393 9,247
9,000
8,048 3,493
4,500
1,540 1,550 1,774 1,829 1,887
2,031
3,404
0 2012
Source:
2016
2018
2030
DOE Power Development Plan 2009-2030, Business Mirror
Source: DOE Business World, Company Data Free Powerpoint Templates
Page 33
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Power Industry Updates

New Projects*
600 MW Coal-Fired 20 MW Geothermal 500 MW Coal-Fired 300 MW Coal-Fired 6 MW Hydroelectric
Location
Mariveles, Bataan (Luzon) Santo Tomas, Batangas (Luzon) Mauban, Quezon (Luzon) Subic, Zambales (Luzon) Silay, Negros Occidental (Visayas)
Estimated Year of Completion Early 2013 Late 2013 Not Stated Not Stated 2015
Company
GN Power Ltd. Co. Maibarara Geothermal EGCO (Thailand) Meralco, Aboitiz, Taiwan Vivant-Malogo Hydropower
17.5 MW Biomass 20 MW Geothermal 4 MW Biomass 135 MW Coal-Fired 82 MW Coal-Fired 82-150 MW Coal-Fired

50 MW Geothermal 300 MW Coal-Fired
*Pipeline projects
Source: DOE - Business Mirror
Mina, Iloilo (Visayas) Nasulo (Visayas) Visayas Panay (Visayas) Toledo, Cebu (Visayas) Iloilo, Panay (Visayas)
Mt. Apo (Mindanao) Davao del Sur (Mindanao)
2015 2013 2014 2015 2014 2015

2014 2015
Global Green (UK-based) EDC Asian Energy AC Energy and A Brown GBPC GBPC
Alsons Consolidated Aboitiz Power
Page 34
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GBP Contract Signing in 2012

MOU with Formosa Heavy Industries and PEDC
October 9, 2012
PPA with Carmen Copper and TPC

June 5, 2012
MOA for EPC with Formosa Heavy Industries and TPC

October, 2012
Page 35
35
GBP Financial Highlights

Total Revenue (Net Fees)
15,000
Financial Results
14,721
11,754
(PHP m) 10,000
Net Fees up +25.2%. Major factor that led to the increase: Full year commercial operations of Cebu and Panay plants
5,000
0 2011 9M 2012 9M
Net Income Attributable to Parent Company

2,097
2,000 1,500 (PHP m) 1,000
Net Income Attributable to Parent
increased by +89.4%.
GT Capital increase in direct equity from 39% to 51%. Direct and indirect ownership at 63% GT Capital consolidation as of June 30, 2012
36
1,107
500 0 2011 9M 2012 9M
Page 36
Insurance - AXA
Page 37
37
Life Insurance Industry Updates

Philippine Life Insurance Market Premium Income
100
100.0* 86.4
FY 2012 IC premium income forecast PHP100 B,
In Billion PHP
75
70.7 56.9 57.2
+15.7% by 2012-end
50 25 0 2008 2009 2010 2011 2012
1H2012 AXA Premium Revenue
+29%
Total Industry Total Assets Total Liabilities H1 Growth
*Minimum estimate for 2012 Source: Insurance Commission, Business World
Forecast growth of life insurance premiums in Southeast Asia versus in US and Canada*
8.0
6.0
Canada Southeast Asia
+17.73% +18.96%
Total Net Worth

United States
+12.67% +5.55%
In %
4.0
2.0 0 -2.0 2015
Income from investments
2012 2013 2014
2012 AXA Distribution Mix: 57% Bancassurance 43% Traditional Insurance

Source: Insurance Commission - Business World
*Real growth rates after adjustment for inflation Source: Wall Street Journal
Page 38
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AXA Branches in 2012

5 New Branches:
The Fort (2 branches), Ortigas Center, Alabang, Marikina
Redefined Branches:
Wellington, Charisland, Skyland, Naga, Baguio, Urdaneta, Cebu, Davao, CDO
Page 39
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AXA Financial Results

Gross Premiums
Financial Results
8,718
10,000
(PHP m)
7,500
5,000 2,500 0
7,148
increase in new business sales from PHP1.5 B to PHP2.0 B
+31%
Premium revenue grew

2011 9M 2012 9M
+22%
Net Income
800
+230% surge in regular premium

investment linked sales resulting in front-loading of legal policy reserves, commissions and bonuses
658
(PHP m)
653
600 400 200 0
Net Income stable from PHP658 M to PHP653 M
2011 9M
2012 9M
Page 40
40
Thank You
GT Capital Holdings, Inc.
Page 41
41
Location Maps
Appendix A
Page 42
42
Toyota Dealership Location

New Dealership: from 31 to 43 by 2013
Metro Manila New Dealership
Old Dealership
Page 43
43
MBT Branches Location
North America
1 MBT Branch 10 Subsidiaries
Europe
5 MBT Subsidiaries
Middle East
63 MBT Remittance Correspondents
Rest of Asia-Pacific
5 MBT Branches 15 Subsidiaries and 2 Representative Offices
Philippines
Luzon Metro Manila
162 MBT branches 53 PSBank branches 296 MBT branches 120 PSBank branches
Visayas
Mindanao
83 MBT branches 22 PSBank branches

62 MBT branches 16 PSBank branches
Overseas presence
6 branches, 28 subsidiaries and 2 representative offices in 27 countries and territories worldwide 104 remittance correspondents and 152 remittance agents present in the United States, Europe, the Middle East, Asia and the Asia-Pacific
Domestic presence
Combined domestic branch network of 820 branches including 607 MBT branches and 213 PSBank branches* Network of 1,668 Metrobank and PSBank ATMs nationwide
*Source: MBT, as of September 30, 2012
Page 44
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AXA Branch Location
Total Philippine AXA branches: 27
Total bancassurance (MBT) branches: 400*
*As of September 30, 2012
Page 45
45
Fed Land Land Bank Location

Location 1. (a) (b) (c) (d) Metro Manila Macapagal Fort Bonifacio Marikina Mandaluyong 7.0 1.8 15.4 2.1 7.0 1.8 15.4 2.1 36.0 10.8 Total Lot Area Fed Land Owned Attributable to Fed Land under JV Ty Family Owned
Metro Manila
Macapagal Paco Manila

Ermita, Manila
Quezon City Marikina Fort Bonifacio
Mandaluyong
Makati City Binondo Manila Cavite Sta Rosa Laguna Cebu
2. 3. 4. 5.
Binan Laguna
(e)
(f) (g) (h) (i)
Paco Manila
Ermita, Manila Binondo Manila Makati City Quezon City Binan Laguna Sta Rosa Laguna Cavite Cebu Total
2.2
0.6 0.9 0.4 0.5 43.5 5.3 18.3 2.8 100.8
2.2
0.6 0.9 0.1 0.2 43.5 5.3 18.3 0.0 97.4
0.3 0.3 2.8 3.4
100.0 146.8
Note: Lot areas shown are in hectares
Page 46
46
GBP Plant Location
Luzon
MINDORO ISLAND
PEDC Iloilo City 82-150 MW, clean coal fuel CEDC Toledo City 82 MW, clean coal fuel
Sablayan
GPRI Mindoro 7.5 MW, fuel oil
Calbayog
PPC Nabas 12.5 MW, fuel oil
SAMAR ISLAND
Visayas
PPC New Washington 5 MW, fuel oil PEDC Iloilo City 164 MW, clean coal fuel PPC - Iloilo 1 72 MW, fuel oil
Roxas
PANAY
LEYTE
Tacloban
Ormoc Iloilo city

Bacolod Toledo city Cebu city
TPC Carmen 40 MW, fuel oil
NEGROS
Kabankalan
Mindanao
CEDC Toledo City 246 MW, clean coal fuel BOHOL TPC -Sangi 60 MW, coal fuel
PPC - Iloilo 2 20 MW, fuel oil
Tagbilaran
BOHOL
Page 47
47
Philippine Macroeconomic Indicators

Appendix B
Page 48
48

Real GDP (2003 2012 H1)
5,297 5,702 5,924
Rating
Sovereign credit ratings and 10 year domestic interest rates

Moodys Ba1 Stable Fitch BB+ Stable S&P BB+ Positive Japan Credit Rating BBB Positive
6000
Constant 2000 Prices, PHP Billion
% 10Y Interest Rates
5,028
5000 4000 3000 2000 1000 0
5,237
2,903
3,080
2007
Source:
2008
2009
12 11 10 9 8 7 6 5 4
Stable
10 yr PDST-F As of Oct. 9, 2012: 4.9577
2010
2011
2011 H1
2012 H1
Source: Asian Development Bank, Bloomberg as of 8 Oct 2012
Bangko Sentral ng Pilipinas
Total Debt as a % of GDP (2003 July 2012)

85.0 75.0 65.0 55.0 45.0 35.0 25.0 15.0
Inflation rates (2003 Oct 2012) (base year = 2006)

6.0 6.2 5.4 4.2 4.0 2.9 3.0 2.5 3.6 3.1 4.2 4.3
5.8
5.2
All items, Ave. % Change
5.0
2.0
1.0 0.0 2003
2004
2005
2006
2007
2008
2009
2010
2011
Total Foreign Debt Total Outstanding Debt

Source: Bangko Sentral ng Pilipinas
2011 2012 Oct Oct
Source:
Page 49
49

OFW Remittances (2003-September 2012)
21.0 19.0 In Billion USD 17.0 15.0 13.0 11.0 9.0 7.0 5.0
Source:
Business Process Outsourcing (BPO) Revenue and Number of Employees

20.1 18.8 30.0
1,300
1,400 1,200 1,000 800 600 400 200 -
Full-Time Employees in '000
16.4 14.5 12.8 10.7 7.6 8.6
16.4
Revenues USD Billion
17.3
17.3
25.0 20.0 15.0 10.0 5.0 0.0
Revenue CAGR: 19.3% Employee CAGR:16.9%

772 640 525
926
25.0
372
6.1
423
13.6
16.0
11.0
7.1 8.9
2008
2009
2010
2011
2012
2013
2016
Full-Time Employees Historical Revenues Forecast Revenues Business Processing Association of the Philippines
Source:
Household Consumption Rates as a % of GDP (2003 2012 H1)

90%
PSE Index (January 2000-October 2012)

6,000.00 5,000.00
Oct. 31 2012 YoY: 25.2% As of Oct. 31, 2011: 4,333.72 As of Oct. 31 2012: 5,424.51
75% 60%
71.6%
71.2%
72.1% 69.2%
4,000.00
70.8%
69.2%
68.8%
3,000.00 2,000.00 1,000.00
45%
0.00
30%
2007
Source:
2008
2009
2010
2011
2011 H1
2012 H1
Source:
Philippine Stock Exchange, Yahoo! Finance
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Gross International Reserves 2000 to October 2012
90 80 70 60 50 40 30 20 10 0
82.1
Domestic Liquidity Special Deposit Account 2010 to August 2012

In Billion PHP
75.3 75.8
In Million USD
62.4 44.2 33.8 18.5 15.1 15.7 16.4 17.1 16.2 23.0
37.6
2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 -
1,822 1,650 1,660
1,240
2010
2011
August 2011*
August 2012
*As of first week of September 2011 Source: Source: Bangko Sentral ng Pilipinas Bangko Sentral ng Pilipinas
Foreign Currency Deposit Unit 2010 to June 2012 Trust Assets Under Management 2005 to 2012E
3500 3034 40.0 35.0 30.0
29.5 30.8 30.3
31.8
31.2
31.3
32.3
33.5
In Billion USD
3000
2818 2194 1765 1153 892 1222
In Billion PHP
2500
25.0 20.0
15.0 10.0 5.0 0.0
24.3
24.9
24.7
25.5
24.6
24.2
25.1
25.8
2000
1500 1000 500 0
861
5.2
5.8
5.5
6.3
6.6
7.1
7.2
7.8
2005
Source:
2006
2007
2008
2009
2010
2011 2012E
FCDU Deposit Liabilities
Source: Bangko Sentral ng Pilipinas
Trust Officers Association of the Philippines, Released October 4, 2012
FCDU Loans
Page 51
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Philippine Demographics
The 12th most populous country in the world
Top 30 countries with the largest populations (2011)
1,600 1,200
with strong projected population growth

Projected population growth (2010 2030)
60 50 39.8 40 33.1 51.7 51.3
(m) 310 240 195 174 158 149 143 127 113 93 88 83 82 81 74 73 69 66 63 62 61 50 48 48 46 46 45 45
800 400 0
1,341 1,225
30 20 10 0 China US Indo Phil UK Thai Euro Area HK SG 7.3 4.2 3.0 1.4 0.9
China India US Indonesia Brazil Pakistan Nigeria Banglade Banglades h Russia Japan Mexico Philippine Vietnam Ethiopia Germany Egypt Iran Turkey Thailand Congo France UK Italy S. Africa Korea S. Korea Myanmar Colombia Spain Ukraine Tanzania
Source: Source: World Population Prospects, United Nations (2011)
World Population Prospects, United Nations (2011)
One of the youngest

% of population under 30
80% 63.7% 60% 54.0% 43.8% 43.4% 41.1% 38.3% 37.2% 35.4%
and increasingly educated population

Adult literacy rate and primary school completion rate
100% 95.4% 95% 90%
(% )
100% 95%
95.4%
91.6% 91.6%
(% )
(% )
40%
31.5%
90% 85% 80% 75%

83.7%
88.5% 88.5%
85%
83.7%
20%
80%
0% Phil Indo China Thai US SG UK Euro Area HK
75%
Adult literacy rate Adult literacy rate Philippines
Primary school completion rate Primary school completion rate World average
Source:
World Population Prospects, United Nations (2011)
Source:
World Bank (latest available 2008 Philippines adult literacy rate, 2009 for other statistical data shown)
Page 52
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Philippine Demographics
Job Distribution of Young Filipino Professionals
BPO, KPO, etc.
20% 30% 7% 8% 12% 23% Finance
Young Professionals vs. Domestic Consumption Growth

800% 700% 600% 500% 400% 300% 200% 100% 0% 2011 2015 2020 2025 2030 2035 Growth in domestic consumption Growth in young professionals consumption
Source: CLSA
Fast-Moving Consumer Goods

Service Self-employed Others
Source:
CLSA
Salary Profile of Young Filipino Professionals (2011)
Young Professionals Discretionary Consumption

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
12%
PHP240,000 and below PHP241,000-360,000 26% PHP361,000-480,000 PHP481,000 and above
49% 77%
47%
46%
44%
42%
40%
51% 23%
53%
54%
56%
58%
22%
2011
Others
2015
2020
2025
2030
2035
Young professional discretionary spending
Source:
CLSA Source: CLSA
Page 53
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OFW Remittances (2003-September 2012)
21.0 19.0 In Billion USD 17.0 15.0 13.0 11.0 9.0 7.0 5.0 Estimated no. of families (M) Total income (PHP Trn) Total expenditure (PHP Trn) Ave. income (PHP'000) Ave. expenditure (PHP'000) Ave. savings (PHP'000)
Source: UBS
Family Income and Expenditure (2000-2009)

20.1 18.8 9-Year 3-Year CAGR CAGR ('00-09) ('06-09) 2.3% 6.3% 6.8% 4.0% 4.4% 1.7% 1.3% 3.3% 4.0% 1.9% 2.6% -1.9% 2.0% 8.2% 8.1% 6.1% 6.1% 6.2% 1.4% 6.1% 7.7% 4.6% 6.2% -3.9%
16.4 14.5 12.8 10.7 7.6 8.6
17.3
16.4
17.3 Estimated no. of families (M) Total income (PHP Trn) Total expenditure (PHP Trn) Ave. income (PHP'000) Ave. expenditure (PHP'000) Ave. savings (PHP'000)
Source:
Average Monthly Income: Metro Manila vs. OFWs

Metro Manila West Asia Sea-based Workers East/South Asia Oceana Average Americas Africa Europe Source: UBS
2003 2006 Total Philippines 15.1 16.5 17.4 2.2 2.4 3.0 1.8 2.0 2.6 145.0 148.0 173.0 119.0 124.0 147.0 26.0 24.0 26.0 National Capital Region 2.2 2.3 2.4 0.7 0.6 0.7 0.5 0.5 0.6 300.0 266.0 311.0 244.0 218.0 258.0 56.0 48.0 53.0
2000
2009 18.5 3.8 3.2 206.0 176.0 31.0 2.5 0.9 0.8 356.0 309.0 47.0
29.7 30.9 65.8
Affordability Index
3.50
Household Income/ Mortgage Installment
72.0 72.7 72.9 80.8

91.3 96.5 20.0 40.0 60.0 80.0 100.0
Income (PHP/Month)
3.00 2.50 2.00 1.50 1.00 0.50 0.00 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Source: UBS Free Powerpoint Templates
Page 54
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2012E

Classification of Housing Projects and Available Mortgages
Price/Unit Socialized PHP0.4M and below Low-Cost PHP0.4M-3M PHP95K-1.5M Middle-Income PHP3M-9M PHP1.5M-4M Private banks; inhouse financing of developers High-End PHP9M and above Over PHP4M
Required annual income PHP95K and below
Source of mortgage financing
Funding agencies like HDMF, SSS, GSIS
Funding agencies like HDMF, SSS, GSIS; government-owned banks; few private banks Mortgage Terms:
Private banks; in-house financing of developers
Maximum loan amount Mortgage rate Loan term Appraisal value
PHP0.4M 4.50% Maximum of 30 years 100%
PHP1.35M 7.0-10.5% Maximum of 30 years 90%
70-80% of appraised 60-70% of appraised value value market rates 15-20 years 70-80% market rates 15-20 years 60-70%
Type of housing
Row houses
Duplexes, singledetached units
Lots, single-detached units, townhouses, Subdivided lots, luxury mid-rise and high-rise condominiums condominiums Lot area 500sqm and above; luxury condos with floor area >300sqm
Typical size
Minimum lot area 35 Minimum lot area Lot area 132sqm; sqm; minimum floor area 80sqm; minimum floor average floor area 18-20sqm area 40sqm 86sqm
Source:
UBS

Page 55

GT Capital Holdings Investor Update FINAL

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GT Capital Holdings, Inc.

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Established track record in growing businesses

Listed on the PSE since April 2012, market cap of US$2.1bn

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1 Best Bank in the

Philippines, Euromoney 2010, 2011, 2012

3 Third largest life

company in the Philippines, market share of 35.7% as of Oct 2012

Philippine bank by book capitalization (14.3% Tier 1 Capital, 18.3% CAR1)

Strong synergies with Metrobank in bancassurance with 400 branches

2 Second largest bank

1 Top global automotive

brand (WPP, 2011 and Interbrand, 2011)

1 No.1 global insurance

Note: 1 As at September 30, 2012 2 By Premium Income

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Delivering on our IPO roadmap and strategies

Repayment of existing debt

Unlock organic growth potential of all GT Capitals current businesses

Consolidate GT Capitals ownership of the GT Capital companies

Profitable new business opportunities via partnership model

Further optimize synergy creation among the GT Capital companies

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Delivering growth in YTD 9M 2012

PHP 3.9 B PHP 5.3 B

Driven by business units: TMP AXA

Continued ownership consolidation

Phase 1 of consolidation (using IPO proceeds)

34.4% 39.0% 51.0%

Phase 2 of consolidation (as envisaged during IPO)

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KPMG consultant for Metrobank Grant Thornton consultant for GT Capital

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FEBRUARY 20 2013 FOUR SEASONS HOTEL HONG KONG

Php14.3 billion (USD350 million) raised

Attracted over 100 global investors More than 3X oversubscribed

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YTD 9M 2012 Updates By Business

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Delivering growth in YTD 9M 2012

PHP 3.9 B PHP 5.3 B

Driven by business units: TMP AXA

GT is outperforming strong markets

+7.5% units (CAMPI and AVID:

3.47% Average NIMs1 18.0% Average CAR1 +16% Premium Income

150,670 supply (Jones Lang

+5% DOE Visayas Peak Demand +25% GBP Net Fees

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Automotive Industry Updates

Growth Rates in Vehicles Sales between 2006 to 2010 Amongst ASEAN 4

Business Monitor International (BMI), UBS Investment Research

Passenger Car Density in ASEAN 4

Patterns in the Growth of Vehicle Ownership

Cars per 1,000 population (Units)

800 700 600 500

Business Monitor International (BMI), UBS Investment Research

Automotive Industry Updates

October all time record high sales of TMP: 6,946 units

Toyota Financials, CAMPI and AVID