PASAY CITY,&nbsp;Philippines,&nbsp;May 10, 2023 - SM Investments Corporation (SM Investments), the country's leading conglomerate, reported its consolidated net income grew 33% to&nbsp;PHP17.3 billion&nbsp;in the first quarter from&nbsp;PHP13.0 billion&nbsp;in the same period last year.

Consolidated revenues in the January to March period increased 21% to&nbsp;PHP138.2 billion, from&nbsp;P113.8 billion&nbsp;in the same period last year.

"This year has started well, continuing the strong momentum of 2022. We are well positioned for continued growth and prepared for any macroeconomic uncertainties. Meanwhile the whole group is pushing ahead with regional expansion plans to serve more Filipinos," SM Investments President and Chief Executive Officer&nbsp;Frederic C. DyBuncio&nbsp;said.

Banking accounted for 47% of reported net earnings from core businesses, followed by property at 26%, retail at 17% and portfolio investments at 10%.

BDO Unibank, Inc. reported a net income of&nbsp;PHP16.5 billion, up 41% from the same period last year and bolstered by solid loan and deposit growth, robust fee-income generation and improved asset quality.

China Banking Corporation booked a&nbsp;PHP5.0 billion&nbsp;net income for the first quarter, up 3% from the same period last year, driven by robust asset base expansion, strong net interest income and lower credit provisions.

SM Prime Holdings, Inc. (SM Prime) registered a consolidated net income of&nbsp;PHP9.4 billion, 27% higher than the&nbsp;PHP7.4 billion&nbsp;in the same period last year. Consolidated revenues grew 20% to&nbsp;PHP28.7 billion&nbsp;from&nbsp;PHP23.9 billion.&nbsp;

The Philippine mall business revenues increased 88% to&nbsp;PHP15.4 billion&nbsp;from&nbsp;PHP8.2 billion.

The rental income of local malls increased 72% to&nbsp;PHP13.0 billion&nbsp;with the increase in tenant sales and foot traffic and the full charging of rental fees implemented since the second half of 2022.&nbsp;

Revenues of its residential business group, led by SM Development Corp. (SMDC), was lower by 29% to&nbsp;PHP8.5 billion&nbsp;partly due to canceled sales as an effect of high inflation, rising domestic interest rates and the lapse of the Bayanihan Law. However, cancellations are beginning to moderate in the first quarter of 2023. SMDC's sales take-up rose 15% to&nbsp;PHP35.8 billion.

Revenues of offices, hotels, and convention centers grew 59% to&nbsp;PHP3.2 billion.

SM Retail net income grew 51% to&nbsp;PHP3.9 billion&nbsp;from&nbsp;PHP2.6 billion. Revenues were up 22% to&nbsp;PHP91.2 billion&nbsp;from&nbsp;PHP74.5 billion&nbsp;as consumers' purchasing power remained stable despite higher inflation. &nbsp;

Notably, the department store business was strong as improving employment continued to support spending. Food retailing was likewise strong with constant spending on food essentials. Specialty retail growth was also driven by discretionary spending on fashion, accessories and sports items.

Portfolio investments continued to contribute to revenues and net income, gaining momentum from the turnarounds from last year.

SM Investments expects the portfolio businesses to make a bigger contribution to the Group's revenues and earnings over time.

Total assets of SM Investments stood at&nbsp;PHP1.5 trillion. Gearing ratio remained conservative with 35% net debt to 65% equity.&nbsp;

SM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM's retail operations are the country's largest and most diversified with its food, non-food, and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in&nbsp;the Philippines&nbsp;with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the 6th largest bank.

For information, please visit&nbsp;<a href="http://www.sminvestments.com/" target="_blank" rel="nofollow">www.sminvestments.com</a>

<h1>SM Investments Q1 net income grows 33% to PHP17.3 bn on resilient consumer demand</h1>PASAY CITY,&nbsp;Philippines,&nbsp;May 10, 2023 - SM Investments Corporation (SM Investments), the country's leading conglomerate, reported its consolidated net income grew 33% to&nbsp;PHP17.3 billion&nbsp;in the first quarter from&nbsp;PHP13.0 billion&nbsp;in the same period last year.Consolidated revenues in the January to March period increased 21% to&nbsp;PHP138.2 billion, from&nbsp;P113.8 billion&nbsp;in the same period last year."This year has started well, continuing the strong momentum of 2022. We are well positioned for continued growth and prepared for any macroeconomic uncertainties. Meanwhile the whole group is pushing ahead with regional expansion plans to serve more Filipinos," SM Investments President and Chief Executive Officer&nbsp;Frederic C. DyBuncio&nbsp;said.Banking accounted for 47% of reported net earnings from core businesses, followed by property at 26%, retail at 17% and portfolio investments at 10%.BankingBDO Unibank, Inc. reported a net income of&nbsp;PHP16.5 billion, up 41% from the same period last year and bolstered by solid loan and deposit growth, robust fee-income generation and improved asset quality.China Banking Corporation booked a&nbsp;PHP5.0 billion&nbsp;net income for the first quarter, up 3% from the same period last year, driven by robust asset base expansion, strong net interest income and lower credit provisions.PropertySM Prime Holdings, Inc. (SM Prime) registered a consolidated net income of&nbsp;PHP9.4 billion, 27% higher than the&nbsp;PHP7.4 billion&nbsp;in the same period last year. Consolidated revenues grew 20% to&nbsp;PHP28.7 billion&nbsp;from&nbsp;PHP23.9 billion.&nbsp;The Philippine mall business revenues increased 88% to&nbsp;PHP15.4 billion&nbsp;from&nbsp;PHP8.2 billion.The rental income of local malls increased 72% to&nbsp;PHP13.0 billion&nbsp;with the increase in tenant sales and foot traffic and the full charging of rental fees implemented since the second half of 2022.&nbsp;Revenues of its residential business group, led by SM Development Corp. (SMDC), was lower by 29% to&nbsp;PHP8.5 billion&nbsp;partly due to canceled sales as an effect of high inflation, rising domestic interest rates and the lapse of the Bayanihan Law. However, cancellations are beginning to moderate in the first quarter of 2023. SMDC's sales take-up rose 15% to&nbsp;PHP35.8 billion.Revenues of offices, hotels, and convention centers grew 59% to&nbsp;PHP3.2 billion.RetailSM Retail net income grew 51% to&nbsp;PHP3.9 billion&nbsp;from&nbsp;PHP2.6 billion. Revenues were up 22% to&nbsp;PHP91.2 billion&nbsp;from&nbsp;PHP74.5 billion&nbsp;as consumers' purchasing power remained stable despite higher inflation. &nbsp;Notably, the department store business was strong as improving employment continued to support spending. Food retailing was likewise strong with constant spending on food essentials. Specialty retail growth was also driven by discretionary spending on fashion, accessories and sports items.Portfolio InvestmentsPortfolio investments continued to contribute to revenues and net income, gaining momentum from the turnarounds from last year.SM Investments expects the portfolio businesses to make a bigger contribution to the Group's revenues and earnings over time.Balance SheetTotal assets of SM Investments stood at&nbsp;PHP1.5 trillion. Gearing ratio remained conservative with 35% net debt to 65% equity.&nbsp;About SM Investments CorporationSM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.SM's retail operations are the country's largest and most diversified with its food, non-food, and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in&nbsp;the Philippines&nbsp;with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the 6th largest bank.For information, please visit&nbsp;<a href="http://www.sminvestments.com/" target="_blank" rel="nofollow">www.sminvestments.com</a>

Accounting

Banks / Credit unions

Financial results announcement

SM Investments Q1 net income grows 33% to PHP17.3 bn on resilient consumer demand

Glenn Paul Añover Embodo is among the 'Yolanda' scholars helped by SM Foundation, Inc. of the SM Group, following the devastation of the super typhoon in the country in 2013.

That's why Glenn was elated to share the good news to SM that he's now a Certified Public Accountant. This came after a long wait for the accounting licensure exams that were put on hold during the pandemic and resumed only in 2022. &nbsp;

Glenn's achievement is a story that inspires SM to keep paying it forward and extend the gesture of gratitude to the different communities it serves for all the support the brand has received for over 60 years.&nbsp;

SM Investments Corporation strives to create real, positive community impact not only through the accessibility of goods and services, but in the creation of socio-economic ventures leading to over 140,000 jobs created across the group in 2022.

"As we grow, we work to ensure that we create and share value with our partners and our communities, helping build strong social foundations," SM Investments Corporation President and CEO&nbsp;Frederic C. DyBuncio&nbsp;said.

In 2022, SM's partnership with suppliers, tenants, and brand affiliates grew. Around 68 percent of SM Supermalls tenants were MSMEs, and the group provided over&nbsp;PHP62.72 billion&nbsp;outstanding loans through its banking businesses, BDO Unibank and China Banking Corporation.

The attainment of equal access to education is a commitment shared across SM. This passion continues to bridge innate Filipino potential to quality education for all.

SM's School and Classroom Building Program has laid the building blocks to house future leaders, and inspiring educators, which has turned over 342 school buildings and 1,110 classrooms built and refurbished to date. The Scholarship Program has supported a total of 11,750 scholars to date.&nbsp;

Working closely with the Department of Health (DOH) helped give people access to basic health services, especially in grassroots communities.

The Group's efforts to empower community health have translated to the renovation and refurbishment of 317 health centers and medical facilities with 1,847 medical missions conducted to date. SM believes in the power of these centers to ensure the welfare of communities and to help reduce the impacts of health outbreaks akin to COVID-19.

To date, over 6.3 million patients have been served by SM's medical missions and wellness center initiatives.

This is in addition to over 10.5 million COVID-19 vaccine doses administered across 77 participating mall vaccination sites by the end of 2022.

SM has been a long-time advocate for environmental stewardship and recently launched the Grow Trees Community through its social good arm, SM Foundation, in partnership with the Fast Retailing Foundation.

The program focuses on developing long-term reforestation by involving an ecosystem of community partners to care for all seedlings planted.

SM's tree planting initiatives have resulted in over 2.6 million trees planted and maintained through SM Foundation, Belle Corporation, Hamilo Coast and Carmen Copper Corporation.

More stories of SM's communities can be found in the third iteration of its Integrated Report for 2022 in line with the group's Annual Stockholder's Meeting (ASM) on&nbsp;April 26, 2023. View the full report at&nbsp;<a href="https://bit.ly/2022-SMIC-IR" target="_blank" rel="nofollow">https://bit.ly/2022-SMIC-IR</a>

<h1>Paying it forward: SM marks another year of positive community impact</h1>Glenn Paul Añover Embodo is among the 'Yolanda' scholars helped by SM Foundation, Inc. of the SM Group, following the devastation of the super typhoon in the country in 2013.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/ASM_Banner_2.jpg" alt="More stories of SM’s communities can be found in the third iteration of its Integrated Report for 2022 in line with the group’s Annual Stockholder’s Meeting (ASM) on April 26, 2023."/>That's why Glenn was elated to share the good news to SM that he's now a Certified Public Accountant. This came after a long wait for the accounting licensure exams that were put on hold during the pandemic and resumed only in 2022. &nbsp;Glenn's achievement is a story that inspires SM to keep paying it forward and extend the gesture of gratitude to the different communities it serves for all the support the brand has received for over 60 years.&nbsp;SM Investments Corporation strives to create real, positive community impact not only through the accessibility of goods and services, but in the creation of socio-economic ventures leading to over 140,000 jobs created across the group in 2022."As we grow, we work to ensure that we create and share value with our partners and our communities, helping build strong social foundations," SM Investments Corporation President and CEO&nbsp;Frederic C. DyBuncio&nbsp;said.In 2022, SM's partnership with suppliers, tenants, and brand affiliates grew. Around 68 percent of SM Supermalls tenants were MSMEs, and the group provided over&nbsp;PHP62.72 billion&nbsp;outstanding loans through its banking businesses, BDO Unibank and China Banking Corporation.Developing our communitiesThe attainment of equal access to education is a commitment shared across SM. This passion continues to bridge innate Filipino potential to quality education for all.SM's School and Classroom Building Program has laid the building blocks to house future leaders, and inspiring educators, which has turned over 342 school buildings and 1,110 classrooms built and refurbished to date. The Scholarship Program has supported a total of 11,750 scholars to date.&nbsp;Working closely with the Department of Health (DOH) helped give people access to basic health services, especially in grassroots communities.The Group's efforts to empower community health have translated to the renovation and refurbishment of 317 health centers and medical facilities with 1,847 medical missions conducted to date. SM believes in the power of these centers to ensure the welfare of communities and to help reduce the impacts of health outbreaks akin to COVID-19.To date, over 6.3 million patients have been served by SM's medical missions and wellness center initiatives.This is in addition to over 10.5 million COVID-19 vaccine doses administered across 77 participating mall vaccination sites by the end of 2022.Forests of the futureSM has been a long-time advocate for environmental stewardship and recently launched the Grow Trees Community through its social good arm, SM Foundation, in partnership with the Fast Retailing Foundation.The program focuses on developing long-term reforestation by involving an ecosystem of community partners to care for all seedlings planted.SM's tree planting initiatives have resulted in over 2.6 million trees planted and maintained through SM Foundation, Belle Corporation, Hamilo Coast and Carmen Copper Corporation.More stories of SM's communities can be found in the third iteration of its Integrated Report for 2022 in line with the group's Annual Stockholder's Meeting (ASM) on&nbsp;April 26, 2023. View the full report at&nbsp;<a href="https://bit.ly/2022-SMIC-IR" target="_blank" rel="nofollow">https://bit.ly/2022-SMIC-IR</a>About SM Investments CorporationSM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.SM's retail operations are the country's largest and most diversified with its food, non-food, and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in&nbsp;the Philippines&nbsp;with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the 6th largest bank.For information, please visit&nbsp;<a href="http://www.sminvestments.com/" target="_blank" rel="nofollow">www.sminvestments.com</a>

Real Estate / Architecture / Construction

Paying it forward: SM marks another year of positive community impact

SM Investments Corporation (SM Investments) remains optimistic on the business prospects this year with sustained consumer spending.

Reflecting this optimism, the company declared an increase in dividend payout to&nbsp;PHP9.165 billion&nbsp;or&nbsp;PHP7.50&nbsp;per share in favor of stockholders on record as of&nbsp;May 11, 2023. The dividends are payable on&nbsp;May 25, 2023.&nbsp; &nbsp;

The dividend declaration represents a 20% increase from the previous year's&nbsp;PHP6.25&nbsp;per share.

"2022 was a year of remarkable growth as our businesses participated in the reopening of the economy. This performance is reflected in our dividend declaration. We remain optimistic about the business prospects going into 2023," SM Investments President and Chief Executive Officer&nbsp;Frederic C. DyBuncio&nbsp;said.

For information, please visit&nbsp;<a href="http://www.sminvestments.com/" target="_blank" rel="nofollow">www.sminvestments.com</a>&nbsp;

<h1>SM hikes dividend payout to shareholders on favorable full year performance</h1>SM Investments Corporation (SM Investments) remains optimistic on the business prospects this year with sustained consumer spending.Reflecting this optimism, the company declared an increase in dividend payout to&nbsp;PHP9.165 billion&nbsp;or&nbsp;PHP7.50&nbsp;per share in favor of stockholders on record as of&nbsp;May 11, 2023. The dividends are payable on&nbsp;May 25, 2023.&nbsp; &nbsp;The dividend declaration represents a 20% increase from the previous year's&nbsp;PHP6.25&nbsp;per share."2022 was a year of remarkable growth as our businesses participated in the reopening of the economy. This performance is reflected in our dividend declaration. We remain optimistic about the business prospects going into 2023," SM Investments President and Chief Executive Officer&nbsp;Frederic C. DyBuncio&nbsp;said.About SM Investments CorporationSM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.SM's retail operations are the country's largest and most diversified with its food, non-food, and specialty retail stores. SM's property arm, SM Prime Holdings, Inc., is the largest integrated property developer in&nbsp;the Philippines&nbsp;with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM's interests in banking are in BDO Unibank, Inc., the country's largest bank, and China Banking Corporation, the 6th largest bank.For information, please visit&nbsp;<a href="http://www.sminvestments.com/" target="_blank" rel="nofollow">www.sminvestments.com</a>&nbsp;