SHAKEY’S PIZZA ASIA VENTURES, INC.(PSE: PIZZA)

COMPANY PRESENTATIONMAY 2019

Company Overview

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SNAPSHOT

• Shakey’s Pizza Asia Ventures, Inc. is the Philippines’ #1 full-service pizza chain with over60% market share in that category. It is also the single-largest brand of full-service casualdining chain restaurants in the Philippines.*

• A strong and well-established brand thanks to a differentiated menu, iconic and well-lovedproducts, a distinct store environment, and highly guest-centric service.

• Apart from the Philippines, also owns the Shakey’s trademark in perpetuity for the MiddleEast, Asia (excluding Japan and Malaysia), China, Australia, and New Zealand. It does not payany royalties and is instead able to collect from local and international franchisees.

• The Company listed on the Philippine Stock Exchange in 2016 under the trading symbolPIZZA. It currently has a market capitalization of c.USD0.4 billion.

• Store Network: 200+ stores across the Philippines – a mix of company-owned andfranchised. Different store formats including those located in malls and those that are free-standing.

• Key Management: Vicente L. Gregorio - President & CEO, Manuel T. del Barrio - VicePresident & CFO, Jorge Q. Concepcion - Shakey’s Philippines General Manager, AloisBrielbeck - In-House Commissary General Manager

*Source: Euromonitor, 2018

Revenues (In USD Mill)

90 100 115 134 145 167

2014 2015 2016* 2017 2018 2019F**

8 913 15 16 18

2014 2015 2016* 2017 2018 2019F***Based on recurring figures

**Consensus of active brokers

Net Income (In USD Mill)

Century Pacific Group53%

GIC Private Equity18%

Public29%

Dine-In58%

Delivery & Others42%

Company-Owned

56%Franchised

44% Metro Manila43%

Luzon(ex-MM)

43%

Visayas10%

Mindanao4%

FULL-YEAR FINANCIALS

2018 SYSTEM-WIDE SALES & STORE NETWORK BREAKDOWN OWNERSHIP STRUCTURE

The Overall ScenarioWell-positioned to take advantage of the growing foodservice industry

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9.03 9.52 10.05 10.77 11.52 12.1

2011 2012 2013 2014 2015 2016

4 F’s in the consumereconomy to benefit fromstrong economic growth

20% of a typical middle-income householdbudget goes to food consumed

outside home. This totals more than PHP500 billion annually, showing a strong propensity to spend.

Source: NSO, Nielsen, Euromonitor, BSP

FurnishingsFashion

FoodFun

Restaurantsand hotels

are growing household

consumption sectors

The consumer foodservice industry has been growing in recent years

In USD Billions

Full-service pizza chain restaurants show faster growth

than the whole full-service restaurant sector

13% vs 6%CAGR from 2013-2018

Shakey’s has 43 years of strongbrand legacy and counting

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First storein the

Philippines

1987The Prieto family became the

master franchisor in the PhilippinesAcquired Shakey’s

trademarkfor the

Philippinesin perpetuity

Acquired Shakey’strademark for Middle

East, Asia (ex Japan, Malaysia) including

China, Australia, and New Zealand in perpetuity

First Shakey’s Pizza Parlor opened in Sacramento, California

1999

228 stores by end 2018

2003Positioned asan Americanfast casualdining restaurantfor families

Century Pacific Group (CPGI)

and Arran (GIC) acquired control

INVESTMENT HIGHLIGHTS

*Source: Euromonitor, 2018

Summary of Investment Highlights

• Multiple sales channels and store formats; simple operations• Low upfront cost and strong cash generation lead to shorter store-level

payback periods compared to the industry

• Extensive track records in food and restaurant operations• Entry of Century Pacific Group as strong and committed shareholders

provides synergies with other food businesses

• Well-loved brand with more than 40 years of history in the Philippines• Iconic products served in a distinct store environment• No royalty payments, plus additional revenues from franchisings

• Superior profitability and margins versus peers• Gearing levels improve as debt remains stable while EBITDA and equity grow• Operating cash flows sufficient for CapEx and other investments

Market Leadership1

2 Brand Strength& Ownership

3 Scalable Business Model

4 Experienced Management

5 Industry-Leading Financials

• Dominates the full-service pizza chain market with 64%* market share• 22%* market share in the full-service (pizza and non-pizza) category - #1 in

that space as well

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Full-Service Chain

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#1 Full-Service Restaurant in the PhilippinesThe full-service pizza chain market is dominated by Shakey’s.

Max's13.5%

Pizza Hut10.4%

Kenny Rogers5.7%

Pancake House4.1%

TGI Fridays2.4%

Others41.6%

22.3% Latest Euromonitor report states that Shakey’sleads the Philippine chained full-service restaurant industry with 22.3% market share as of 2018.

Pizza Hut29.9%

Papa John's1.7%

Others4.2%

64.2%

Full-Service Pizza Chain2018 data shows that Shakey’sdominates the full-service pizza chain market by sales since 2011 until present.

Source: Euromonitor

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Strong and Well-Established BrandShakey’s offers a differentiated menu with iconic and well-loved products.

Differentiated menu with iconic products and offerings for all

PizzaWorld-famous thin crust and hand-tossed pizzas with many different choices

Chicken and MojosSignature dish - fried chicken paired with Shakey’s famous mojos*

*Thinly-sliced potatoes coated with Shakey’s breading and fried to a golden brown perfection

PastaHearty pasta with a wide range of sauces and toppings paired with garlic bread

StartersRanging from fries, mojos, squid rings, chips, and chicken

SoupHome-style soups loaded with flavor and goodness

SaladExtensive choice of salad for health-conscious customers

DessertsWide range of after-meal desserts

Bundled offerings catering to families and groups bring up average checks

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Strong and Well-Established BrandShakey’s offers a beautiful and distinct store environment to every customerand has full control and ownership of its brand.

Though originally from the U.S., PIZZA has owned the Shakey’s brand for the Philippines

since 1999.

With its over 40 year history in the Philippines, Shakey’s is one of the most recognizable brands in the local food service industry.

Source: Asia’s Top 1000 Brands Survey by Campaign Asia, in partnership with Nielsen

Brand ownership means:

• No royalty payments, leading to shorter payback period and sustainably higher margins versus peers

• Revenue from licensing fees and royalties from franchisees

• Freedom to execute and react faster to market changes• Opportunity for expansion into international markets

2018 PhilippineTop 100 Restaurant Brands:

1 2 3

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Proven and Scalable Business ModelMultiple sales channels and store formats provide convenience and accessibility toShakey’s customers and allow for market and expansion flexibility.

Dine-In• Most popular sales channel due to

unique family and friends experience• Aim to “WOW” the guest

Delivery• Delivery available nationwide• Single delivery hotline number

(#77-777) can be used

Carryout• Convenient and fast method of sales

Functions• Free-standing stores have function

rooms for events such as parties and company gatherings

Online Sales• Active online and mobile presence

with own website and mobile app• http://www.shakeyspizza.ph

SuperCard• A very popular paid loyalty card• PHP499 annual fee

Mall Stores120 – 250 sqm

50%

Free-Standing Stores300 – 400 sqm

45%

Others120 – 180 sqm

5%

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Proven and Scalable Business ModelShakey’s is a well-established brand, while operating on an asset-light model.

Brand Positioning

Short Payback Period

Asset-Light Approach

Vertical Integration

• Benefitting from key consumer trends – eating out more and upgrading from fast food to casual dining

• Firmly positioned in the fast casual segment (A, B, and upper C market) that delivers high margins, good volumes, and scale

• Own commissary for proprietary raw materials protects key supply chain and maintains

consistency and control over quality

• Economies of scale and purchasing synergy

• Long-term leases for store locations at attractive rentals• Presence of standalone stores (i.e. those

outside malls) lead to low rent-to-sales ratio

• Business model and strong discipline leads to typical payback period of 3-4 years

• Low upfront cost and strong cash generation per store

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Experienced Management TeamVISION: to be the PREFERRED and DOMINANT family casual dining restaurant

Vicente GregorioPresident & Chief Executive Officer• Over 30 years of successful experience in the food business• Started career in the first ever Shakey’s branch in the Philippines• Key driver of Shakey’s brand strategy, organization culture, core values, and mission since 2003• Proven management and leadership track record in foodservice retail set-up, expansion, and turnaround management

Manuel Del BarrioVice President & Chief Finance Officer • Previously Assistant Vice President for

Finance of Century Pacific Food, Inc. (CNPF) and The Pacific Meat Company, Inc.

• Worked in accounting positions at several leading companies

Jorge ConcepcionShakey’s Philippines General Manager• Over 30 years of experience in consumer-

related business• Significant experience in the U.S.

foodservice industry for about 10 years in numerous managerial positions

Alois BrielbeckIn-House Commissary General Manager• Over 30 years of experience in the foodservice

business• Moved to Asia in 1986, taking up positions in

pastry kitchens in Hong Kong and Tokyo• Moved to the Philippines in 2000 as Chief

Operating Officer for Culinary Systems Specialists Incorporated

• Appointed as Commissary General Manager in 2005

Joseph RemsaInternational Development Consultant• Previously President and CEO of Shakey’s U.S.A.• Leads the development and operations of the

Shakey’s brands in Asia, Middle East, Australia, and New Zealand

• Over 25 years of experience in leading operations and franchising in top-chained restaurants

Q1 2019 FINANCIAL HIGLIGHTS

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STOCK & INVESTOR RELATIONS HIGHLIGHTS

Stock Highlights

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MARKET CAPITALIZATION

$0.3BDecember 2016

$0.4BMay 2019

PERFORMANCE SINCE IPO

₱11.26IPO Price

+14%15 May 2019

PIZZAPhilippine Consumer Average

PER (x) 21.4 28.6

EV / EBITDA (x) 9.51 12.3

ROE (%) 18.4 13.6

Operating Margin (%)* 16.5 9.9

Net Income Margin (%)* 11.1 7.1

Source: BPI Securities 2019 Estimates as of 16 May 2019*Bloomberg, trailing 12 months

STOCK PRICE PERFORMANCE (BLOOMBERG TICKER: PIZZA PM)

6.00

10.00

14.00

18.00

Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19

PHP/SHARE PHP12.84 as of 15 May 2019

Investor Relations Highlights

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DIVIDEND HISTORY

*Listing Date: 15 December 2016**As of 16 May 2019

Current Price PHP12.84

Initial Listing Price PHP11.26

Range since Listing Date* PHP9.80 - 17.48

No. of Outstanding Shares 1,531,321,053

Shareholding Structure CPGI: 53.0%Arran (GIC): 18.5%

Free Float 28.5% (includes Prieto family’s 4.7%)

3-Month Average Turnover PHP8.0 millionUSD0.2 million

Market Capitalization PHP19.7 billionUSD0.4 billion

Performance since Listing Date* +14%

YTD Relative to Index +6%

*Of previous year’s recurring net income

0.10 0.10

23% 20%

0%

15%

30%

0.00

0.15

0.30

2017 2018

Regular Cash

Payout Ratio*

Declaration Date

RecordDate

Payment Date

2017 May 8 June 6 June 30

2018 August 16 September 14 October 10

Philippines’ Best Small Cap Company

Finance Asia 2018

SHAREHOLDERS Source: Bloomberg, May 2019

Foreign Ownership Limit: 100%Free Float Level: 29%

GIC Private Equity18%

Prieto Family 5%

Norges Bank 3%

Matthews International Capital Management 1%

Others20% Century Pacific Group

Inc (CPGI) 53%• wholly owned by

the Philippines’ Po family

• majority shareholder of CNPF PM and ALCO PM

Investor Relations Highlights

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SELL-SIDE COVERAGE

Institution Analyst Latest Call

AB Capital Sec Edgar Lay HOLD

BDO Nomura Angelo Torres BUY

BPI Jefferies Javier Consunji BUY

Citi Patricia Tamase BUY

CLSA Joyce Ramos BUY

COL Financial Andy Dela Cruz HOLD

Credit Suisse Hazel Tanedo OUTPERFORM

Deutsche Bank Carissa Mangubat BUY

Macquarie Karisa Magpayo OUTPERFORM

Regina Capital Paola Lopez BUY

Unicapital Sec Wendy Estacio HOLD

PIZZA’s 2017 Glossy Annual Report can be found on the Company’scorporate website.

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Investors > Investor Presentations

https://spavi-noo-prod.s3.ap-southeast-1.amazonaws.com/s3fs-public/documents/investor_presentations/FINAL_ONLINE_PIZZA_2017_Glossy_Annual_Report.pdf

Our 2018 Glossy AnnualReport will be availableby June 20, 2019.

Investor Relations Highlights

Investor Conferences Earnings Release

dbAccessPhilippines Corporate Day (London)

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AUG MacquarieASEAN Conference (Singapore)

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SEP

*Schedule updated as of 16 May 2019

Annual Stockholders’ Meeting

20JUN

2Q19Earnings Release

7AUG

3Q19Earnings Release

12NOV

Investor Relations Highlights

SHAKEY’S PIZZA ASIA VENTURES, INC.

This document is highly confidential and being given solely for your information and for your use and may not be, or anyportion thereof, shared, copied, reproduced or redistributed to any other person in any manner.

The statements contained in this document speak only as of the date which they are made, and the Company expresslydisclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statementscontained herein to reflect any change in events, conditions or circumstances on which any such statements are based. Bypreparing this presentation, none of the Company, its management, and their respective advisers undertakes anyobligation to provide the recipient with access to any additional information or to update this presentation or to correctany inaccuracies in any such information which may become apparent.

This presentation contains statements, including forward-looking statements, based on the currently held beliefs andassumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable.Forward-looking statements in particular involve known and unknown risks, uncertainties and other factors, which maycause the actual results, financial condition, performance, or achievements of the Company or industry results, to differmaterially from the results, financial condition, performance or achievements expressed or implied by such forward-lookingstatements. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to placeundue reliance on these forward-looking statements.

Any reference herein to "the Company" shall mean, collectively, Shakey’s Pizza Asia Ventures, Inc. and its subsidiaries.

Paranaque City, Philippines

+632 742 5397

investorrelations@shakeys.biz

www.shakeyspizza.ph

http://edge.pse.com.ph/companyInformation/form.do?cmpy_id=664