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H o u s i n g t h e F i l i p i n o P e o p l e

8990 Selected ProjectUpdates

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H o u s i n g t h e F i l i p i n o P e o p l e

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Urban DECA Tower EDSA

Construction Status: 49 days Ahead

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Muntinglupa:UDH Campville

1.9 Hectares | 1,024 Units | 15% Sold units

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Angeles: DECA Clark Resort and Residences

80 Hectares | 4,837 Units | 54% Sold units

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Cavite: Deca Homes Bella Vista

50 Hectares | 3,881 Units | 78% Sold units

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Iloilo: DECA Home Pavia Resort and Residences

88 Hectares | 4,500 Units | 15% Sold units

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Davao: DECA Homes Indangan

54 Hectares | 3,428 Units | 52% Sold units

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Cebu:Urban DECA Homes Tisa

9 Hectares | 2,500 Units | 13% Sold units

Operating and Financial PerformanceManagement Update

1H 2015

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H o u s i n g t h e F i l i p i n o P e o p l e

Unaudited2Q 2015

Unaudited2Q 2014

Growth Rate

Gross Sales P 2,506 P 2,100 19%

Gross Profit 1,489 1,243 20%

Operating Expense 371 385 -4%

Net Income Before Tax 1,309 981 34%

Net Income After Tax 1,190 875 36%

Gross Margin 59% 59%

Net Margin 47% 42%

Gross revenues grow by 19% in 2Q15, compared to 2Q14.

P1.2 billion in net income increases by 36% from 1Q14 to fuel double-digit growth in 1H15.

Net margin of 47% in 2Q15 is 5% better than 2Q14, and 7% more than the 40% bench mark.

8990 2Q15 INCOME JUMPS 36%

Unaudited1H 2015

Unaudited1H 2014

Growth Rate

Gross Sales P 4,509 P 4,044 12%

Gross Profit 2,674 2,442 9%

Operating Expense 738 687 7%

Net Income Before Tax 2,314 1,956 18%

Net Income After Tax 2,127 1,808 18%

Gross Margin 59% 60%

Net Margin 47% 45%

Net earnings grew by 27% in 2Q15 that offset flat earnings in 1Q15.

P2.1 billion in net income increases by 18% from 1H14, and surpasses 2015 mid-year guidance of P2.0 billion by 6%. NET margin of 47% in 1H15 is now 7% better than the 40% bench mark.

We are still on track to meet our earnings guidance for 2015.

8990 HOLDINGS INCOME GROWS 18% in 1H15

Core Business Performance Reaches 5 Billion in 1H15

In units / Million pesos 1H 2015 1H 2014 Growth Rate

Sales Reservations 4,748 4,059 17%

Housing Production 3,808 3,201 19%

Housing Delivered 4,066 3,821 6%

Housing Revenues P 4,419 P 3,893 14%

CTS Income P 575 P 406 42%

Total Revenues from Housing Operations P 4,994 P 4,299 16%

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Housing revenues plus CTS income reaches P4.9 Billion in 1H15, up by 16% from last year.

Housing-related income remain to be 97% of the gross revenues.

Revenues from CTS financing grew by 42% in 1H15, contributing 12% to the operating performance of 8990.

8990’s Growth Factors for 2015External Factors

Last year, we noted that:

- continuous GNP growth, - increase in OFW remittances, - the growing BPO/CC/IT sector, - the 4 million housing backlog

These are still in play, and a new factor – the new 6.5% housing loan interest rate of HDMF – has provided even greater impetus to growth this year.

Internal Developments

- Successful launch of 6 out of 9 projects - Stabilized purchase prices for materials - Continuous double casting of panels - Added more than 240 new sellers - Increased selling prices by 7%.

As in 2014, the realization that: “More than sales velocity, our capacity to build more and more units WHILE MAINTAINING QUALITY” is still the main determining factor to our long-term sustainability.

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North Luzon; 17%

South Luzon; 32%

Cebu; 16%

Davao ; 22%

Iloilo; 13%

Delivered Housing Units

Mass Housing; 86%

MRB; 11% Other Income; 3%

TOP LINE REVENUE BREAKDOWN

Out of the 4,066 housing units delivered to homeowners in 1H15, South Luzon (Cavite and Muntinglupa) contributed 32% or 1,291 units.

86% of revenue or 3,496 units came from housing subdivision projects, while 11% or 447 units came from the medium-rise building (MRB) project in Mandaue City, Cebu.

8990 Builds More Houses in South Luzon

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Total Units Total Value (in M Php) Percentage

North Luzon 682 692 19%

South Luzon 1,257 1,398 40%

Cebu 663 713 20%

Iloilo 94 89 2%

Davao 626 699 19%

Total 3,322 3,591 100%

In addition to new projects, 3,322 housing units from 8990’s 14 ongoing projects nationwide provided top line revenue with a value of P 3.6 billion.

In sum, a total of 4,066 housing units were sold in 1H15 from both new and ongoing projects with a gross value of P4.4 billion.

On-Going Projects Contribute 82% to Revenue in 1H15

8990 Launches 6 Projects in 1H15

Project Type Total Units Location

Units to be Delivered in

2015 Value

(in M Php)

Urban DH Campville MRB 1,068 Muntinlupa 488 414

DH Tanza Horizontal 632 Cavite 594 267

DH Pavia 3 Horizontal 2,125 Iloilo 1,680 1,512

DHRR Prime Horizontal 217 Davao 217 217

DHRR Com. Phase 11 Horizontal 109 Davao 109 158

DH Guadalupe Horizontal 408 Cebu 408 404

DH indangan Ph 3 & 4 Horizontal 1,905 Davao 750 727

DH Talisay 3 Horizontal 643 Cebu 410 390

DH Catalunan Grande Horizontal 720 Davao 580 580

Total 7,827 5,236 4,689

This year, 8990 launched 6 out of its 9 new projects due for launching in 2015. The remaining three projects will be launched in the third quarter.

744 housing units from the 4 out of the 6 projects launched were already sold and delivered, contributing P 803M revenue in 1H15.

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Huge Growing Demand for 8990’s Market

4.2 million in unserved mass housing demand growing at 5% per year.

Demographic Subdivision CondominiumYoung: 23 to to 45 year old. 74% 82%

College Educated andLicensed Professionals 84% 83%

100% Gainfully Employed:Office Workers, BPO, OFW 73% 86%

Minimum P35,000 Gross Family Income 83% 81%

Renters Not Asset Owners 91% 70%

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Unrealized Sales Reaches 682 Units in 1H15

Our unrealized sales for 1H15 grew by 17% or by 682 units, evidence of strong market demand in the mass housing sector nationwide.

682 units have a take-out value of P741 million, providing a good start for Third Quarter’s performance.

Branch Total

Davao 106

Cebu 36

Iloilo 262

North Luzon 5

South Luzon 273

Total 682

Balance Sheet Highlights(in PhP M)

Unaudited 1H2015

Unaudited1H2014

Growth Rate

Current Assets P 7,442 P 4,946 50%

Noncurrent Assets 25,047 17,995 39%

Total Assets 32,489 22,942 42%

Current Liabilities 6,997 3,465 102%

Noncurrent Liabilities 9,469 5,796 63%

Total Liabilities 16,466 9,261 78%

Equity 16,023 13,680 17%

42% Increase in Assets Strengthens 8990 Balance Sheet

8990’s assets have grown by 42%, mainly with new land purchases and installment contract receivables.

The increase in total liabilities were borrowings for construction activities, operating expenses and the increase in landbank by more than 110 hectares. The Balance Sheet improves as our deliveries to Pag-IBIG Fund are taken-out.

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Key Performance Indicators 1H15 1H14

Current Ratio 1.06 1.43

Book Value per Share 2.90 2.48

Debt to Equity Ratio 0.78 0.50

Asset to Equity Ratio 2.03 1.68

Asset to Debt Ratio 1.97 2.48

Interest Coverage Ratio 12.40 10.48

EPS 0.39 0.33

8990 EPS Posts 18% Gain in 1H15

8990’s Financial Ratios are within acceptable industry standards, indicating a stable Balance Sheet with stronger book value per share, asset-to-equity ratio, interest coverage ratio, and earnings per share that grew by 18% in 1H15.The successful listing of 8990’s Deca HOUSE Bond brings the current ratio to the level of about 1.6x.

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8990 Delivers P1.9B Take-outs to HDMF in 1H15

8990 delivered 2,044 accounts to HDMF for take-out, equivalent to P1.9 billion in 1H15, providing greater cash flows in the 2nd half of the year.

We note that our performance, in just two quarters, has already surpassed 2014’s full year take-out value of P1.8 Billion.

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Status Unit Value

1H Takeout 935 P 840

Delivered 1,109 1,059

TOTAL 2,044 P1,899

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In Million pesos 1H 2015

1H 2014

Growth Rate

Net cash used in operating activities

745 2,353 (70%)

Net cash used in investing activities

1,654 2,353 (-30%)

Net cash provided by financing activities 2,296 5,077 (-55%)

Cash balance at the end of the year 503 482 4%

8990 Improves Cash Flow in 1H15

8990 1H15 cash flow indicates a 70% decline in net cash used indicating a greater usage of internally generated funds versus bank borrowings due to the increased volume of take-outs from Pag-IBIG Fund.

Should this trend continue, we expect to be cash flow positive at the end of 2015.

8990 CTS Income Jumps 42%

Value of 8990’s CTS Portfolio now stands at P17Billion, up 43% from 1H14.

Portfolio size grew by 37% to just under 20,000 units.

Collection efficiency remains stable at 96%.

1H15 1H14 Growth Rate

Units 19,229 14,015 37%

Value P 16,982 P 11, 9075 43%

Interest Income from CTS P 575 P 406 42%

Collection Efficiency 96% 97% (1%)

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8990 Landbank Expands to 446 Hectares

Location Hectares No. of Units

North Luzon 44 3,483

NCR 40 48,380

South Luzon 5 2,618

Visayas 153 18,318

Mindanao 204 17,135

Total 446 89,134

Last year, 8990’s landbank stood at 335 hectares. Today, we have expanded this by 33% to 446 hectares with an expected yield of just over 89,000 units, equivalent to an estimated P108 Billion.

This translates a business activity equivalent to five years, growing at 20% per annum.

Beyond building houses, 8990 strives to build long-term relationships with strong partners to help us grow our business.

Megawide - Our construction partner for High Rise Condominium projects.

Waltermart - Our partner for mall operations.

Organization of Socialized and Economic Housing Developers of the Philippines (OSHDP) – Our industry advocacy partner.

MERALCO – our Pre-Paid electricity partner.

I-Tech RAR Solutions – Our Cebu connectivity and cable provider.

8990 Builds Partnerships

Guidance for 2015: Gross Income - P10 Billion or USD 233m (60% gross margin) Net Earnings - P 4 Billion or USD 93m (40% net margin) GROWTH RATE - 20%

BETTING ON HOUSEWhat’s in store for 2015?

- 11,083 units nationwide- 9 new projects, 19 projects ongoing- Open three new branches- 50% income from HDMF take-outs- 3rd DECA wakeboard park in Visayas- P9B Corporate Bond offering- 8990 cable and internet company- Mall Joint Venture Partnership

BETTING ON HOUSE

“I will build a car … large enough for the family, small enough to care for… the best materials, the best men, the simplest designs modern engineering

can devise.

But so low in price that no man making a good salary will be not able to own

one.”

And that is precisely what HOUSE is all about.

Henry FordTIMES’ Businessman of the 20th Century

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