3Q 2012 Financial ResultsNovember 2012

Alphaland Corporation

Agenda

Company Presentation

Company overview

Corporate and shareholding structure

Business strategies

Our projects

Financial performance

Appendix

Q&A

1

Company Overview

Who we areA unique property developer with attractive land bank at prime locations, differentiating itself through the development of premium residential, commercial, leisure and resort properties with unique lifestyle propositions

The City Club Boracay Gateway

Marina Club

Balesin Island Club

Southgate Mall and Tower

Shangri-La at The Fort

Alphaland Bay CityAlphaland TowerMakati Place (retail)Makati Place (residential)

3

Our history

May: Alphaland Development Inc. (then known as AlphalandCorporation) was incorporated

Sep: Alphaland acquired 10ha of land in Parañaque City for the development of Alphaland Bay City

Nov: Alphaland acquired 30ha of land in Silang, Cavite

Jan: Alphaland acquired and redeveloped Alphaland Southgate Mall and Tower

May: Alphaland acquired 20% in Shangri-La at The Fort

Jun: Alphaland acquired the leasehold rights for 1ha of land for Alphaland Makati Place and the land for Alphaland TowerAug: Alphaland Southgate Mall opened and Alphaland Southgate Tower was launchedNov: Completion of reverse take-over (“RTO”) of Macondray Plastics, Inc.

Mar: Memorandum of Agreement was signed with Akean Resorts for the development of BoracayGateway

Apr: Memorandum of Agreement was signed with Balesin Corporation for Alphaland Balesin Island Club

May: Commenced construction of Alphaland Makati Place and AlphalandTower

Aug: Commenced marketing of Alphaland Makati Place

Dec: Alphaland Southgate Tower fully leased

Selective and strategic acquisition of land bank and development of properties over the last five years

Feb: Alphaland Balesin received endorsement from DOT to develop 394ha of land for registration with Philippine Economic Zone Authority

Feb: Commenced marketing of Alphaland Tower

Apr: Incorporation of Alphaland Bay City, soft opening of Balesin Village

Sep: Start of breakwater for Marina Club

Nov: Launch of Marina Club

2007 2008 2009 2010 2011 2012

4

Corporate and shareholding structure

5

Alphaland Corporation

(the “Company” or “Group”)

100.0%

Shangri-La at the Fort

Aklan Boracay Properties, Inc.

60% interest in Boracay Gateway JV

Alphaland Development Inc.

Southgate Mall and Tower

Makati Place Alphaland Tower Silang

Alphaland Bay City Corp.

Alphaland Bay City JV with Wenceslao Group

Simplified corporate structure

100.0% 50.0% 20.0%

In addition, Alphaland develops and sells preferred shares of the following clubs, which are owned, operated and managed by an affiliate not within the Group: Balesin Island Club The City Club at Alphaland Makati Place Marina Club (Launched on 8 November 2012)

Alphaland Holdings (Singapore) Pte. Ltd.

(“Ashmore”)MasrickstarCorporation

BoerstarCorporation

RVO Capital Ventures

CorporationAzurestar

Corporation Others

38.7% 35.8% 8.5% 7.2% 1.4% 8.5%

Alphaland Balesin Island Resort Corporation

100.0%

Balesin Island Club

Business strategies

6

Deliver “real value” to customers as excellence sells itself1

Selective acquisition and strategic developments4

Create markets in unique leisure developments2

Penetrate domestic and international markets3

Alphaland’s unique approach to property development

We focus on and develop properties that cater to discerning customers who are able to truly understand and appreciate the finer details in our developments

Urban projects are in prime and strategic locations

Resort projects are conveniently located

Focus on location and convenience

Live – Work – Play

Emphasis on design and quality

International-standard architectural and interior design

Landmark properties

Offer ultimate lifestyle choices

Clubs(1) – City, Marina, Balesin

Exclusive properties

Catering to high net worth individuals in the country, expatriates and foreign investors

Interior of Alphaland Makati Place residential unit

Conceptual design for Marina Club clubhouse Balesin Island – Phuket village

7(1) Through the sale of the clubs’ preferred shares. Clubs are owned, operated and managed by an affiliate not within the Group.

Overview of Alphaland’s projectsWe have a robust pipeline of residential, commercial, leisure and resort developments, which have significantly appreciated since the Company acquired the land

Property name 2012 2013 2014 2015

Alphaland Southgate Operational since 2009

AlphalandBalesin Partially operational

Construction completion

Alphaland Makati Place Completion of Mall and City Club Completion of residential Completion of hotel / serviced

apartments

Alphaland Makati Tower Construction completion

Alphaland Bay City Develop Marina Club

Opening of Marina Club

Continuation of development of Bay City

Shangri-Laat the Fort Construction completion

Boracay Gateway Development of Boracay Gateway

(1) This chart reflects the completion dates currently being targeted by the Company, which are subject to a number of factors and may change from time to time.

Expected project completion timeline (1)

8

Strong management team and shareholders

PositionYears of relevant

experience

10Marriana YuloChief Finance Officer

23Joanna DuarteVP for Sales & Marketing

40Mario OretaPresident

We believe that our management team’s collective experience in the real estate industry, as well as in other businesses in the Philippines, has allowed us to successfully execute our strategies

Joint venture between the Ongpin Group and Ashmore Group

Rodolfo Ponferrada Corporate Secretary & General Counsel

10

Kenneth GoVP for Planning & Design 30

Josefino B. SiasatVP for Purchasing 15

9

Management Major shareholders

Roberto V. Ongpin, Chairman and CEO

Mr. Ongpin has extensive experience in the Board of Directors of listed companies in the Philippines and overseas

Relevant position includes his role as non-Executive Director of Shangri-La Asia Ltd.

Eric O. Recto, Vice-Chairman, Corporate Information Officer

Likewise, Mr. Recto has extensive experience in the Board of Directors and management teams of listed companies in the Philippines

Notable position includes his role as President of Petron Corporation

Ashmore Group plc

Private equity fund

Based in London with over US$60 billion in assets under management(1)

20Gen. Cyrano AustriaSVP for Projects

(1) Ashmore website, as of 30 June 2012.

Achievements in 2012 year-to-date

10

Key financial milestones

Financial metric as of 9M 2012 PHP in millions vs. 9M 2011

Revenue(1) 702.5 84.4%

Adjusted EBITDA(1) 413.2 112.1%

Profit before tax 2,574.9 1,302.1%

Adjusted Profit before tax(2) 335.8 82.9%

Net income 1,878.8 590.6%

Adjusted net income(3) 311.4 20.2%

Net debt to equity (%) 17.3% 10.8%

(1) Includes realized gains on sale of AFS investments.(2) Excludes pre-tax gain on fair value change of investment properties and gain on bargain purchase.(3) Excludes after tax gain on fair value change of investment properties, gain on bargain purchase and net income from discontinued operations. Assumes 30% tax rate.

Operational update

Property name Status as at 3Q 2012

Alphaland Southgate Tower Completed and 100% occupied

Alphaland Southgate Mall Completed and 93% occupied

Alphaland Makati Place75% of Phase 1 completed and the mall expected to be operational by 1Q 2013, residential tower 1 expected turnover by end 2014. 71 residential units have been pre-sold as of September 30, 2012

The City Club at AlphalandMakati Place

75% construction completed and 440 shares sold as of September 30, 2012 (including shares attached to residential units). Club expected to be operational by 1Q 2013

Alphaland Tower 82% of construction completed, and expected to be operational by January 2013

Alphaland Balesin Island Club

82% of construction completed and 4 out of the 7 villages are operational. Soft opening of the club was in April 2012. Expected to be 100% complete by 1Q 2013 and 430 local and 100 international shares sold as of September 30, 2012

Alphaland Marina Club Club formally launched on 8 November 2012 and scheduled to open in 2014

Shangri-La at the Fort 12.5% of construction completed to-date, and hotel scheduled to complete in 2014

11

Our Projects

Prime city locationsAlphaland Makati Place, Alphaland Tower and Alphaland Southgate

Close to other prime offices, hotels, shopping complexes and medical buildings

13

Makati Medical Centre & Medical City

Alphaland Southgate

Alphaland Makati Place

Alphaland Tower

RCBC Tower

Greenbelt Mall

Glorietta Mall

Mandarin Oriental

The PeninsulaManila

Ayala Tower One and Ayala

Triangle

PhilamlifeTower

The Enterprise Centre

Makati Shangri-La

Resorts World Manila Bayshore

Belle Grande Resorts & Casino

Prime city locations (cont’d)

14

Entertainment City

Bloomberry’sSolaire Casino

Manila Bay Resorts

AlphalandBay City

SM Mall of Asia

Ninoy Aquino International

Airport

Alphaland Bay City is adjacent to Mall of Asia and new Entertainment City

Projects

15

Alphaland Southgate

Description

Conveniently located at the corner of Epifanio de los Santos Avenue (EDSA) and Pasong Tamo

20-storey modern structure clad in glass, connected to an MRT terminal, arising from a six-story podium and a shopping mall

Equally accessible from Makati’s central business district and neighboring residential subdivisions

Operational since August 2009

View from drivewayView from rooftop of mall

Key operating statistics Tower Mall

Occupancy as at 30 September 2012 100% 93%

Average lease life 5 years 2 to 3 years

GFA c. 37,000 sqm c. 17,000 sqm

NLA c. 32,540 sqm c. 7,640 sqm

Key tenants Business process outsourcing

Supermarket, fastfood chains

Projects (cont’d)

16

Alphaland Tower – Status updateDescription Strategically located along Ayala Avenue 34-storey building with LEED (Leadership in Energy and

Environmental Design) certification Only new source of premium corporate office in the

vicinity in 2013

Occupancy Profiles of target tenants primarily include multinational

corporations and financial services companies

Floor area GFA: c. 48,000 sqm NLA: c. 31,000 sqm

Estimated timeline(1): December 2012: Project completion January 2013: Commencement of operations

Development cost(2): Total estimated development cost: PHP 3.1 billion

Funding expected to come from: Existing PHP 2.4 billion loan facility from DBP, LBP,

BOC and Maybank, of which PHP 1.5 billion has been drawn as of 30 September 2012

(1) These are the completion dates currently being targeted by the Company, which are subject to a number of factors and may change from time to time.(2) These are the Company’s current expected development costs, which are subject to a number of variables and other factors, many of which are outside the control of the Company, and are based on assumptions that include, without limitation, expected construction costs, interest rates and timetable and expected raw material and other input and development costs, many of which have not yet been contracted for the Company, and accordingly these expected development costs are subject to change from time to time.

Alphaland Tower – South elevation

Projects (cont’d)

17

Alphaland Makati Place – Residential, Retail and Hotel

Description Mixed-use development designed by Wong & Ouyang, a leading international architectural and design firm Strategically located at Ayala Ave. extension, near other condominium developments, prime offices, and a reputable

hospital

Planned hotel / serviced apartments (One tower)

Residential (Two towers)

The City Club at Alphaland Makati Place (1)

Mall

Average lease life: − 5 to 15 years (anchor)− 3 to 5 years (average)

Key tenants include a supermarket, a hardware store and a bookstore

(1) Owned, operated and managed by an affiliate not within the Group.

Projects (cont’d)

18

The City Club at Alphaland Makati Place (1)

Description Two hectares of leisure, entertainment and business

facilities

Expected to occupy the top three floors of the six-storey podium at Alphaland Makati Place

Within walking distance from major offices, residential buildings and commercial establishments

Garden pool

Reception areaGymnasium

(1) Owned, operated and managed by an affiliate not within the Group.

Projects (cont’d)

On-time and within budget

Corner of Ayala Avenue and Malugay Street

Status update on Alphaland Makati Place

19

Mall City Club Residential Hotel / ServicedApartment

Expected completion 1Q 2013(87% pre-leased) 1Q 2013 2014 2015

Total estimated development cost (1) c. PHP 8.4 billion

Funding expected to come from: PHP 7.0 billion term loan – in talks with several banks for a syndicated loan

− This amount includes refinancing of drawn amount (PHP 1.2 billion) from the existing PHP 1.75 billion loan facility from DBP, LBP, BOC and Maybank

Remainder expected to come from internal cash flows (pre-sales, share sales and equity)

(1) These are the Company’s current expected development costs, which are subject to a number of variables and other factors, many of which are outside the control of the Company, and are based on assumptions that include, without limitation, expected construction costs, interest rates and timetable and expected raw material and other input and development costs, many of which have not yet been contracted for the Company, and accordingly these expected development costs are subject to change from time to time.

View from FEU Corner of Ayala Avenue and Malugay Street

Projects (cont’d)

20

Balesin Island Club (1)

Description Over 400ha island with seven themed villages inspired by world renowned seaside destinations containing 292 villas, including 14 suites in the

clubhouse Approximately 18 minutes away from Metro Manila by Jet Stream 32

(1) Owned, operated and managed by an affiliate not within the Group.(2) These are the Company’s current expected development costs, which are subject to a number of variables and other factors, many of which are outside the control of the Company, and are based on assumptions that include, without limitation, expected construction costs, interest rates and timetable and expected raw material and other input and development costs, many of which have not yet been contracted for the Company, and accordingly these expected development costs are subject to change from time to time.

Development cost: Total estimated development cost: PHP 3.2 billion(2)

Funding expected to come from: PHP 2 billion credit line from Bank of Commerce

Projects (cont’d)

21

98 villas are operational to date

Expected to have an additional 81 villas operational by end November and remaining 113 villas by 1Q 2013

Nusa Dua Bar and Mykonos Taverna are operational and Mykonos Cove Deck is completed

Phuket Sala is operational and 30 Phuket villas to be operational by end November

Construction at Toscana is in progress and expected to have 32 villas, and be operational by 1Q 2013

Recently added Costa del Sol village, which is expected to have 48 villas and be operational by 1Q 2013

Village developmentsat Balesin:

Mykonos

Bali

St. Tropez

Phuket Toscana

Projects (cont’d)

22

Alphaland Bay City

Artist’s impression of the Marina Club Artist’s impression of Parkside residential section

Description

Expected to be built around the Marina Club, Alphaland Bay City is expected to be a 32ha premium, self-contained seaside community

It is envisioned to be a premier location for premium residential, office, commercial and retail developments

Marina Club launched on 8 November 2012

Artist’s impression of retail strip

Projects (cont’d)

23

Boracay Gateway

Description Fully-integrated master-planned leisure township, with

sports, recreation, residential, and retail / commercial areas, including an all-weather polo field and country club

5 to 10 minutes away by boat from Boracay island

Aerial views of Boracay Gateway

Beach adjacent to Boracay Gateway

Projects (cont’d)

24

Shangri-La at The Fort

Description Expected to be built to the specifications of a premium hotel 60-storeys containing hotel guest rooms, residences for

lease and sale, a sports club and a retail area Located in Bonifacio Global City, which is a 30-minute drive

from the airport and 10-minute drive from Makati CBDConstruction information Estimated to be completed by 2014 (1)

Alphaland’s ownership: 20% Investment to date: PHP 1.1 billion Already fully funded

(1) These are the completion dates currently being targeted, which are subject to a number of factors and may change from time to time.

Financial Performance

(209)

273 259 311

2010 2011 9M11 9M12

n.m. 44% 68% 44%

Income statementRevenues (Includes realized gains on sale of AFS investments)

Profit before tax (Excludes pre-tax gain on fair value change of investment properties and gain on bargain purchase)

Net income (Excludes after tax gain on fair value change of investment properties, gain on bargain purchase and net income from discontinued operations. Assumes 30% tax rate.)

(in PHP millions)

(in PHP millions) (in PHP millions)

EBITDA (Includes realized gains on sale of AFS investments)(in PHP millions)

EBITDA margin

PBT margin Net income margin

26

184

622

381

703

2010 2011 9M11 9M12

(184)

302

184

336

2010 2011 9M11 9M12

n.m. 49% 48% 48%

(108)

336

195

413

2010 2011 9M11 9M12

n.m. 51% 59%54%

17,985

33,856 39,847

2010 2011 9M12

Balance sheetTotal assets Net debt

Investment properties at fair value Shareholders’ equity

(in PHP millions)

1,158

2,052

4,918

2010 2011 9M12

8.7% 8.4% 17.3%

(in PHP millions)

15,338 18,046

21,164

2010 2011 9M12ABC ASG AT ABIC AMP Silang Caticlan AMC

(in PHP millions)

13,341

24,338 28,473

2010 2011 9M12

(in PHP millions)

Net debt/equity

27

94

250338

45015

135

345

465

240

7

41

93

160

200

983793

800

2012 2013 2014 2015 2016 2017 After 2017

Facility 1 Facility 2 Facility 3 Credit line 1

16.4% 18.2% 8.1% 11.5% 16.4% 9.5% 19.8%

Debt maturity profile as at 30 September 2012(PHP in millions)

Well staggered debt maturity profile

The Company has sufficient debt capacity to support its capital expenditure requirements in the next 12 to 24 months

Significant undrawn but committed lines

Key debt metrics

Amount (PHP billion)

Gross debt 5.3 (1)

Net debt 4.9 (1)

Interest coverage

3.1x (1)

% total debt

(1) As at and for the quarter ended 30 September 2012. Interest coverage is calculated as LTM EBITDA / interest paid and other financing charges. EBITDA includes realized gains on sale of AFS investments.(2) Represents drawdowns from PHP2 billion Bank of Commerce credit line, which are payable 180 days after drawdown. 28

(2)

Strong balance sheet management with staggered debt maturities

Appendix

Our portfolioA variety of existing and potential properties which can be developed further to maximize value

Property name Location Type Size

Alphaland Southgate Mall and Tower Makati City Office, Retail Tower NLA: 32,540 sqm

Mall NLA: 7,640 sqm

Balesin Island Club (1) Quezon Province Club membership Site area: 424ha

Alphaland Makati Place (ex. The City Club) Makati City

Retail, Residential, Hotel/serviced

apartments

Res’l GFA: 35,800 sqmMall NLA: 5,700 sqm

The City Club (1) Makati City Club membership -

Alphaland Tower Makati City Office NLA: 31,000 sqmFor sale: 6,730 sqm

Alphaland Bay City Parañaque City Township development Site area: 32ha

Marina Club (1) Parañaque City Club membership -

Boracay Gateway Aklan Province Township development Site area: 500ha

Shangri-La at The Fort Bonifacio Global City Residential, Hotel574 hotel rooms

97 hotel residences98 luxury homes

Silang Cavite Province Land Site area: 30ha

Alphaland also owns a 50% stake in Alphaland Heavy Equipment Corporation

30(1) Owned, operated and managed by an affiliate not within the Group.