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書誌絹嵩前端器謙諜C）1　　4Februaw2015　　　　　　1

DateofReport

2　　　1177

SECidentifiCatiOn Number

4　　　GLOBETELECO

3　　　000－768－480－000

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7　　27IF，TheGlobeTower，32ndiStreetcorner7thAvenue，

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COMMONSHARES

TOTALDEBT（inM冊onsof

indiCatetheitemnumberSrePOrted

NumberofSharesofCommon Stock

OutstandingandAmountofDebtOutstanding

（asofDecember31，2014）

132，733，090

Please refertoattached

Re：　4Q2014ANALYSTS，BRiEFINGPRESENTATlON MATERiALS

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GL

Date　　4Februarv2015

2/4/2015

1

Globe Telecom, Inc. Financial and Operating Results

For the Fourth Quarter and Full Year 2014

5 February 2015

2

2014 Financial Highlights

Service Revenues EBITDA

Core Net Income 1Q15 Cash Dividend

Php 99.0B Php 39.3B

Php 14.5B Php 20.75/sh

• Higher by 9% over Php90.5B in 2013

• Record December lifts 4Q14

revenues to new high of Php26.3B,

up 5% QoQ and 13% YoY

• Up 8% YoY from Php 36.5B in 2013

• 4Q14 EBITDA of Php 9.5B up 16%

YoY but down 11% QoQ on

seasonally higher opex and

subsidy

• Up 25% YoY from Php11.6B in 2013

• 4Q14 Core NIAT of Php 2.9B up

39% YoY but down 27% QoQ due

to lower 4Q14 EBITDA

• Record date on 18 Feb,

payable on 4 Mar

• Pay-out in line with policy of

distributing 75-90% of prior

year’s core net income

2/4/2015

2

36.45 38.66

40.64 40.69 41.78

38.48

40.75

42.72 42.85 44.04

4Q13 1Q14 2Q14 3Q14 4Q14Postpaid Prepaid

2.09

2.03

2.08 2.16 2.26

2013 2014

Mobile: Full-year and quarterly revenues both new all-time highs, driven

by sustained growth in subscribers across postpaid and prepaid

Total Mobile Subscribers (in Mn)

FY 2014

YoY

Change 4Q14

QoQ

Change

Postpaid 29,919 +11% 7,808 +4%

Prepaid 48,150 +5% 12,688 +4%

TOTAL 78,069 +7% 20,496 +4%

Mobile Revenues (In Php Mn)

Mobile Churn

2013 2014

Mobile Gross Adds (in ‘000s)

Prepaid Postpaid

+17%

2.3% 1.8%

7.0% 7.3%

6.7% 6.9%

3Q14 4Q14

Postpaid

TM

Prepaid

36,928

30,170

+22%

+14%

Pre FB Post FB

2013 2014

Mobile data services: Data continues to drive growth across our business

segments with the continuing shift among consumers to a digital lifestyle

Mobile Browsing and Other Data Revenues (in Php Mn)

* Includes mobile browsing, VAS, GCash and other mobile content

11,603 14,306

• In response to overwhelming demand, Globe’s Free Facebook Offer returned last October to November with the aim to seed the habit among its subscribers of mobile browsing on its expanded 3G and 4G networks

Return of Free Facebook Offer

Mobile FB Registered Users (in Millions)

Free Facebook +

Free Viber

Pre FB Post FB

Average Monthly Mobile

Data Revenue

+23%

+36% +14%

2/4/2015

3

Data continues to drive growth across our business segments with the

continuing shift among consumers to a digital lifestyle

Broadband Revenues (in Php Mn)

Fixed Line Data Revenues (in Php Mn)

Broadband Subscribers (in Millions)

1.65 1.80 1.84 2.12 2.35

0.38 0.39 0.41 0.43

0.44 2.03 2.19 2.25 2.55

2.79

4Q13 1Q14 2Q14 3Q14 4Q14

Wired

Wireless

2013 2014

10,440 12,687

+22%

Broadband and fixed line data sustains growth trajectory, underpinned

by continued demand for data connectivity

2013 2014

4,691 5,480

+17%

+37%

Globe will continue to provide best content and best experience to

enable the evolving digital lifestyle of our consumers

SPORTS MUSIC SOCIAL NETWORKING

*Social Networking

Service Users

**Mobile Data Users

***Mobile Data Traffic

50%YoY

30%YoY

270%YoY

with the best content experience in:

21Mn

11.3Mn

87K TB

As of Dec 2014

As of Nov 2014

FY2014

*number of social media accounts logged in through Globe service (mobile, nomadic, BB); **Globe subs with mobile data usage; **paid mobile data traffic

2/4/2015

4

7

We launched our Generation 3 stores to revolutionize the

retail experience of our customers

8

New services, devices and events that deliver unique customer

experiences

iPhone6 and 6 Plus Launch New Postpaid and Prepaid Offers

New GCash Promos New ILD Calling Offers

New Globe Store in Rome, Italy

2/4/2015

5

Financial Performance Highlights

*OPEX & Subsidy includes interconnect expenses **Core NIAT excludes forex, mark-to-market gains and losses, and non-recurring items

Consolidated Financial Highlights

In Php Millions 2014 2013 Y/Y

Change 4Q14 3Q14

Q/Q

Change

Service Revenues 99,025 90,500 9 % 26,324 25,006 5%

OPEX & Subsidy* (59,754) (53,986) 11% (16,811) (14,325) 17%

EBITDA 39,271 36,514 8% 9,513 10,681 (11%)

EBITDA Margin 40% 40% 36% 43%

Depreciation 18,123 27,478 (34%) 4,965 4,649 7%

Affected by Network Mod’n 1,623 9,066 (82%) 154 291 (47%)

Others 16,500 18,412 (10%) 4,810 4,358 10%

EBIT 21,148 9,036 134% 4,549 6,033 (25%)

Non-Operating Charges (1,765) (2,172) (19%) (492) (627) (22%)

NIAT 13,372 4,960 170% 2,844 3,693 (23%)

Core NIAT** 14,489 11,617 25% 2,911 3,989 (27%)

10

2/4/2015

6

14,488

5,970

6,548 287 4,043

5,891

11,617

2013 Higher Revenues Higher OPEX &Subsidy

Lower Depreciation Lower Non-Opcharges

Add Back: Acc Depand FX/MTM

charges

2014

39,269

8,531 853

1,193 2,123 1,110 2,193

36,514

2013 Inc. in Revenues Dec. in

Interconnect

Charges

Inc. in Staff

Costs

Inc. in Marketing

& Subsidy

Inc. in Network

Costs

Inc. in

Provisions,

Services, Others

2014

YoY Change in EBITDA (in Php Millions)

YoY Change in Core NIAT (After-tax, in Php Millions)

11

EBITDA rose by 8% YoY, as robust revenue growth and lower interconnect

charges offset increases in subscriber- and network-driven costs

+25%

+8%

18,007 20,124

28,999

21,235

2011 2012 2013 2014

CAPEX In Php Millions Core

Capex

27%

Data-driven CAPEX

49%

Others

9% Business

Support

Systems 15%

FY2014 CAPEX Breakdown

29,000 Guidance for 2014

12

9% 15% 15% 9%

15% 9%

50% 35% 27%

32% 35% 49%

2012 2013 2014

Data

Core

Others

BusinessSupport

Capital expenditures at approximately Php21 Billion

2/4/2015

7

Gross debt at Php65.3 Billion, though comfortably within covenant ratios

48,679 61,779

69,301 65,276

2011 2012 2013 2014

Gross Debt (in Php Millions)

1.01

1.33

1.66

1.2

2011 2012 2013 2014

Gross D/E Ratio

1.39

1.78 1.90 1.66

2011 2012 2013 2014

Gross Debt/EBITDA Ratio

Covenant = 3:1

Covenant = 2:1

13

Cash Dividend per Common Share

P20.75

Record Date 18 Feb 2015

Payment Date 4 Mar 2015

1Q15 Dividends

2015 Consolidated Outlook

Service Revenues

Cost Considerations

Capex

• Revenues up by high single digit from 2014 level

• Overall EBITDA margin of around 40% (+/- 1%), given the continuous

growth of our postpaid business, the increasing contribution of lower-

margin data-related products, and focus and efforts in managing

costs

• Additional interest expenses from additional debt related to 2015

capex

• New programmed CAPEX for 2015 to be around $650 million, of

which close to 3 /4 would be for data-related investments, such as

LTE mobile and @Home, 3G capacities and coverage deployment,

DSL augmentation and domestic and international transmission

capacities

• With $200 million of 2014 programmed CAPEX expected to slide into

the first half of 2015 (due primarily to timing issues), total 2015 CAPEX

would be around $850 million

Balance Sheet Ratios

• Gearing ratios remain comfortably within covenant levels

2/4/2015

8

Appendix

2/4/2015

9

2013 2014

(In Million Pesos) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

CONSOLIDATED SERVICE REVENUES

Mobile 17,124 18,717 18,232 18,691 18,456 19,342 19,775 20,496

Voice 7,670 8,268 8,052 8,377 8,658 8,684 8,471 8,871

SMS 6,961 7,349 7,097 7,387 7,008 7,233 7,289 7,549

Data 2,493 3,100 3,083 2,927 2,790 3,425 4,015 4,076

Fixed Line & Broadband 4,244 4,447 4,493 4,552 4,774 5,123 5,231 20,956

Broadband 2,486 2,659 2,632 2,663 2,790 3,065 3,183 2,789

Fixed Line Data 1,111 1,148 1,190 1,242 1,319 1,313 1,365 5,481

Fixed Line Voice 647 640 671 647 665 745 683 12,686

Total 21,368 23,164 22,725 23,243 23,230 24,465 25,006 26,774

EBITDA 8,776 10,164 9,353 8,221 8,796 10,281 10,681 9,531

EBITDA Margin 41% 44% 41% 35% 38% 42% 43% 36%

Appendix 1:

Historical Consolidated Gross / Net Service Revenues and EBITDA Margin

2013 2014

(In Million Pesos) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Net Service Revenues 19,172 20,683 20,425 20,939 21,173 22,293 23,044 24,086

Interconnection Settlement Costs

2,196 2,481 2,300 2,304 2,057 2,172 1,962 2,238

Appendix 2:

Net Income and Core Net Income

(in Million Pesos) 2014 2013 % Change 4Q14 3Q14 % Change

Reported Net Income After Tax 13,372 4,960 170% 2,844 3,693 (23%)

Deferred Tax on Unexercised Stock Options 65 (92) 171% (8) 19 (142%)

Add (deduct) Forex loss (gain) (72) 575 (113%) (48) 106 (145%)

Other Adjustments – (including acc. depreciation) 1,124 6,174 (82%) 123 171 (28%)

Core Net Income 14,489 11,617 25% 2,911 3,989 (27%)