Virtual Q3 2022 analyst briefing Globe Telecom. We'll begin the presentation with Mr. Ernest Cu, our President and Chief Executive Officer, giving an overview of our performance and a few updates on the Globe Group. With that, we hand over the virtual floor to Mr. Cu. Thank you, Jose Mari. Good morning to everyone, and thanks again for joining us for our Q3 briefing. For the nine months ended September, Globe recorded an all-time high of PHP 118 billion, up 3% versus the same period last year. This is driven by mobile and corporate data services, as well as the contributions from our non-telco subsidiaries. This was due in part to our strong performance in the first half of the year, which saw the company achieve record-breaking revenue performances in the first and second quarter. The Q3, on the other hand, saw a slight softening of the top line as the Philippine economy continues to face inflationary pressures and geopolitical instability. Additionally, the third quarter has historically been a seasonally weaker quarter. EBITDA for a period is also at an all-time high of PHP 60 billion, improving 6% year-on-year, aided by our cost management efforts. This translates to an EBITDA margin of 51%. Reported net income is up by 48% year-on-year to PHP 26 billion, mostly from one-time gains related to the sale of our data center and tower assets. Excluding these gains, normalized NI still grew 6% year-on-year. As an update to our landmark tower sale initiative, Globe signed its third sale and leaseback agreement with PhilTower last September, bringing overall towers sold to 7,059. Additionally, we reached two milestones in this initiative, raising a combined PHP 18 billion with the closing of the first tranche of our sale to Frontier in September, with the same for MIDC in October. Globe also recently concluded its first stock rights offer in over two decades and raised PHP 17 billion. We are very thankful to our investors and shareholders for the support they have given us in this SRO effort. Despite the challenging marketing conditions, the offer was oversubscribed, which is a testament to our shareholders' confidence in Globe. Lastly, I am pleased to report that our Board of Directors have approved the fourth quarterly cash dividend of PHP 25 per share, payable on December 9 to shareholders on record as of November 25. Expanding on what I mentioned earlier, our non-telco subsidiaries contributed almost PHP 3 billion in revenue for the period. This is double their contribution versus last year. ECPay and Asticom remain the largest contributors, followed by Yondu and AdSpark. Our joint ventures and affiliates likewise continue to contribute to our bottom line with our net share and equity gains growing by 13% to over PHP 1 billion, or around 3% of income before tax. This concludes my portion, and I now turn you over to Issa, our Chief Commercial Officer. Issa? Thank you, Ernest. Moving on to the telco business, the mobile segment reported close to PHP 81 billion in revenue for the period, improving by 3% versus last year, despite the continuing decline of traditional voice and SMS services. This represents our second highest nine-month mobile revenue, bested only by our pre-pandemic high in 2019. The growth was due entirely to mobile data services, which grew 8% year- on- year to PHP 62 billion, a record high driven by our Globe Prepaid and GoMo brands. Mobile data traffic sustained its growth both in total traffic and monthly ATPU, indicating that consumers' mobile data usage still continued to grow. Mobile data traffic reached well over 3 exabytes, while monthly ATPU rose to 10 GB per month. However, we do note that similar to the trend in gross service revenue, mobile revenue has slightly declined by 2% quarter-on-quarter. As Ernest mentioned, the country is currently facing economic challenges which may have curbed consumers' discretionary spend. Nonetheless, we continue to focus on providing our customers with more value-driven, best-in-class products and services. Meanwhile, home broadband revenue is at PHP 20 billion, declined 9% year-on-year and 1% quarter-on-quarter amid the ongoing normalization of our home prepaid Wi-Fi. Fixed wireless subscribers declined by 44% versus last year to 1.6 million, and we anticipate this to normalize further to 1.2 million by year-end. We recognize that our customers' reliance on data keep growing. They require more stable connections and faster speeds that fixed wired solutions provide. The effort continues as we migrate our fixed, wireless and legacy technology subscribers to fiber, while also launching affordable fiber connectivity to reach the broader market. With our recently launched community prepaid fiber product, TMBayan Fiber WiFi, which already has 624 hosts as of November 11. We will also be launching a new GFiber prepaid product soon that will offer the speeds and reliability of a fiber connection with the flexibility and affordability of prepaid. Our fixed wired subscribers grew 25% year-on-year to now 1.1 million strong, boosted by the increasing take-up of fiber, which saw a 64% increase in subscribers and a 108% increase in our revenue year-on-year. As of September this year, we have already rolled out over 1.3 million fiber to the home lines and over 3 million since 2020 to serve the broadband market. We will continue to do so, albeit at a slower pace, as we believe that the postpaid broadband market is nearing saturation. This situation can already be seen in the declining postpaid net adds in the telco industry, given the macroeconomic challenges. Nonetheless, we are still committed to making fast broadband service available for every household, and we will continue to offer postpaid fiber broadband leveraging on partnerships and synergies across the Globe Group ecosystem. Last but not least, we have corporate data services at a record high of PHP 12 billion, growing 21% year-on-year, bolstered by our improving performance of our ICT revenues, which grew 96% year-on-year. The growth in ICT revenue was led by business application solutions, data center services, and cloud solutions. Business application solutions, in particular, includes revenue from our subsidiary, M360, whose multi-channel communication services is seeing great traction. That ends my portion, and I now turn you over to Joel. Thank you, Issa Guevara-Cabreira. Complementing our fiber rollout is our continuous builds and improvements on our mobile network as we aim to deliver a first world network. As of September, we have built over 1,000 new cell sites, upgraded over 10,000 more sites, and installed over 1,800 5G sites. With this sustained network improvements, Globe once again received the recognition for being the Philippines' most reliable mobile network in the third quarter of 2022. According to Ookla data, Globe bested competition in all technology consistency with a score of 82.55 and all technology availability with a score of 92.03. Combined, these metrics reflect the reliability and consistent level of quality provided by Globe's mobile network and is a testament to our efforts in improving the customer experience. Reliability remains an elusive claim that only a few mobile operators in the world have managed to attain. That concludes my portion, and I now turn you over to Tek, who will provide updates on Mynt. Thank you, Joel, and good morning to everyone here on the call. Allow me now to share with you some highlights and milestones from the past quarter as GCash continues to our pursuit of financial inclusion. As of the end of September this year, our registered base continues to grow with 71 million Filipinos using GCash and trusting the platform. We continue to see high user engagement, which serves as further proof that we have become embedded in the everyday lives of Filipinos. As of year to date September, our GTV is at PHP 4.8 trillion, already surpassing the 2021 full year GTV of PHP 3.8 trillion. With our dogged focus on merchant acquisition and partnerships, GCash continues to be the largest digital ecosystem in the Philippines. Our merchants and social seller base is now at 5.5 million, 1.6x larger than year-over-year. We've expanded our cash in and cash out outlets to 557,000, still offering the most touch points for our users. Meanwhile, our mini program, GLife, now has 582 merchants with categories like content, health, insurance, and e-government. Even as we grow in scale, customer satisfaction remains high as we are able to maintain world-class NPS of 83.9%, up by 7.9 percentage points year-over-year. I'm also proud to share that GCash is the country's highest ranked brand in KPMG's 2022 Global Customer Experience Excellence Report, further recognizing our ethos of keeping the customer as our North Star. GCash remains to be the number one finance app in the country, while we continue to be consistently profitable across the quarters. GCash active user base continues to be greater than those of popular social media sites, and it's actually 5x larger than the next e-wallet based on reputable third-party platform, data.ai. Next slide, please. We continue to disrupt traditional financial services with our relevant offerings that are easier to access and understand. For lending, with our continued expansion into more relevant use cases, we've grown our unique borrowers by 74% year-on-year. Dispersed value is up 95% compared to last year. Amidst this growth in borrowers, we're proud that we've been able to maintain best in class NPL rates across all our different products. This has allowed us to lend more confidently to Filipinos who may need it the most. All of these can be attributed to three essential features of our lending products, which is GCredit, GLoan and GGives. First, the GScore, which is our proprietary and powerful tool that provides customized loan offerings across our each, according to each user's trust score. We also have our lending operations backed by quick enrollment and our recently launched efficient real-time auto deduction that helps in creating very robust lending products. For GSave for savings, our GSave marketplace now has three partner banks, CIMB, BPI, and more recently, Maybank. Our continued expansion here gives our users more options to choose from unique savings propositions. To date, we have over PHP 13 billion in savings deposits through our different partnerships. We pride ourselves at one out of five banked adult Filipinos have a GSave account. For insurance, GInsure now has more than 33 product offerings as we have partnered with more than 10 reputable names in the industry. Beyond traditional insurance products, we have now unique offerings such as home fire protection, pet insurance, and our first micro VUL. We will continue to partner with the most innovative and biggest market players in financial services as we pursue finance for all. Next slide, please. We aim to serve all Filipinos, whoever and wherever they are, whether they're sari-sari store owners outside Metro Manila or families on a trip outside the country. We have been fully supportive of the BSP and DILG's Paleng-QR Ph program. Through this initiative, we have made financial services even more accessible to tricycle drivers and wet market vendors. Beyond the local scene, we have also increased our focus on providing access to international cross-border payments, where GCash is also present. With our partnership with Alipay, GCash is now available as a payment option in Alipay QR's in Japan, Malaysia, Singapore, and most recently, South Korea. Lastly, with GCash Jr., kids and teens ages 17 and below can get access to a safe and fun GCash interface with services and deals designed specifically for the youth. In the coming months, more features will be made available in Jr., which will further empower them in their financial journey. We will continue to deliver on our promise of convenience, reliability, and access, so our customers can avail of essential financial services confidently in line with our vision for finance for all. This ends the GCash updates for the past quarter. We're excited to finish the year strong. I now turn you over to Rizza for her presentation. To Froilan Castelo for his presentation. Thank you, Tek. The government recently signed into law the SIM Registration Act, which requires all SIM cards to be registered with their respective telcos. This mandatory SIM registration will add a layer of security that benefits all Filipinos, as this significantly reduces spam and scam SMS messages. With this law in place, criminals will no longer be able to take advantage of the anonymity provided by prepaid SIM cards. Globe fully supports the government with this initiative, and we consider this a critical step towards combating criminal activity. This also supplements our ongoing efforts to block scam and spam messages, an initiative that we have been championing over the past few years and even before the recent rise in SMS-related scams. Globe has already begun preparations to ensure a credible and customer-friendly rollout aimed at making this the registration process as smooth as possible. Once the IRR is approved and published, Globe shall commence with the registration. The NTC has 60 days or until December 26th to publish the IRR. Following that, all subscribers will be mandated to register their SIM cards within 180 days or until April 25, 2023. The DICT may extend this deadline for no more than 120 days or until August 23, 2023. That concludes my update, and I will turn you over to Rizza. Thank you, Froilan, and good morning to everyone on the call. To recap, gross service revenue is at a record high of PHP 118 billion on the back of strong first half performance and resilient third quarter performance. Notwithstanding the challenging macroeconomic conditions, third quarter revenue is still at the PHP 39 billion mark, dipping by only 2% versus last quarter's record high. Year-on-year, OpEx and subsidy remained flat, bringing EBITDA up 6% to PHP 60 billion and EBITDA margin to 51%. Depreciation, however, grew by 14% to PHP 33 billion, driven by increased CapEx investments and the reassessment of lease OpEx to capitalized leases. Coupled with net positive non-operating charges for the period, reported net income increased by 4%-8% year-on-year. Non-operating charges for the 9-month period include one-time gains related to the partial sale of our DC assets in March, as well as the gain on the sale of the first tranche of towers sold to Frontier last September. Net gain from the tower sale amounted to PHP 1.4 billion. Excluding these one-time gains, normalized net income would have improved by 6% year-on-year and declined by 9% quarter-on-quarter. On to the next slide, bridging our expenses, marketing and subsidy declined by PHP 1.4 billion or 14% from lower spend on ads and promotions. Services and other expense also declined by PHP 264 million or 2% from lower cloud and professional fees. Network costs rose by PHP 811 million driven by higher utility and administrative expenses and repairs and maintenance charges. This was partly offset by lower lease expenses due to the reassessment of certain operating leases to capitalized leases. Provisions increased by PHP 800 million or 23% year-on-year due to higher trade provisions. Meanwhile, staff costs posted a slight 1% growth year-on-year, while interconnection, interconnect charges grew 13% year-on-year. Moving on to CapEx, nine-month cash CapEx spend is at $1.3 billion or PHP 74 billion, 84% of which was spent on data related reforms. This is in line with our guidance of $1.7 billion, the peso equivalent of which may still increase due to the rising Forex rates. We would like to reiterate, however, that the full year 2022 represents peak CapEx and that beginning 2023, CapEx will trend lower. At the moment, we are not yet prepared to give, 2023 guidance as we are in the middle of our budgeting process. We are targeting for cash CapEx to eventually decline to around $1 billion by 2024, or at least at this level. Onto our balance sheet. Gross debt level is at PHP 248 billion with unrestricted cash level at PHP 10 billion. Ratios remain well within our covenant levels, despite being slightly more elevated relative to year-end 2021 level. Gross debt to equity is at 1.9x, while gross debt to EBITDA is at 2.6x. However, we do expect our fundraising initiatives to provide more flexibility as well as improve the balance sheet. One such initiative, as mentioned by Ernest earlier, is our landmark tower sale and leaseback wherein the signing of our third deal with PhilTower is now expected to raise a total of PHP 91 billion. The tower sale proceeds will be received in tranches, in step with multiple closings per portfolio. Only the first closing with Frontier last September has been recognized and reported as of the third quarter. Proceeds from the 800 towers sold to Frontier amounted to PHP 10.4 billion. Last October, we also achieved our first closing with MIDC for 700 towers, with proceeds of PHP 8.4 billion to be recognized in the fourth quarter. The PHP 17 billion proceeds from our stock rights offer will also be reflected in our Q4 results. The full year impact of partial proceeds from the tower sale and the SRO will bring debt to EBITDA and debt to equity down to 2.2 times and 1.5 times respectively by the end of 2022. This concludes our presentation, and I now turn you over to Jose Mari to begin the Q&A session. Thank you. Thank you, Rizza. Before we begin with the question and answer session, we would like to introduce the management panel. First, of course, we have Mr. Ernest Cu, President and Chief Executive Officer. Ms. Rizza Maniego-Eala, Chief Finance Officer. Ms. Issa Guevara-Cabrera, Chief Commercial Officer. Attorney Froilan Castelo, General Counsel. Mr. Joel Agustin, Head of Network Planning and Engineering. Mr. Darius Delgado, Vice President of Consumer Mobile Business. And Mr. Tek Olaño, Chief Finance Officer of Mynt. We'll now begin the Q&A session as we have a hard stop around 10:30 A.M. Our first set of questions come from Gio dela Rosa of Regis Partners. Gio has two questions, and both are for Issa pertaining to broadband. First question is, regarding your wireline broadband net additions in the third quarter, would you be able to provide how gross subscriber additions were compared to net additions? Good morning again, everyone, and thank you for that question. These data, which is the gross adds and net adds, are usually not disclosed in public. Just to give you a bit of a flavor from a growth perspective, our gross adds increased by 41% quarter-on-quarter and 31% year-on-year, largely driven by the 2x more Globe Fiber lines versus previous years, which I spoke about earlier in my presentation. Our strong service guarantee with as early as a 24-hour installation and our all-new Globe Fiber plans that come with faster speeds, strengthened servicing, and a full range of content add-ons, which we launched back in June. Okay. Thank you, Issa. The second question is, how much of your wired broadband net additions in the quarter are attributable to the new lower price plans introduced a few months ago? Majority of the net adds that we had in Q3 are from the new portfolio launched last June, with majority of the plans on plan 1299 and 1699, as we see customers starting to optimize their household telco spend. Okay. Thank you, Issa. The next set of questions come from Miguel de Leon of COL Financial. Again, the first question pertains to broadband, Issa. Are there any updates on TMBayan? When can we expect this to scale or increase the rollout pace? For the TMBayan Prepaid Fiber, we have already rolled out 3x higher sites, now with over 600 sites as of November 11, and expect further scale up by first half of next year. Okay. Thank you, Issa. Next question pertains to mobile. This is for Darius. What caused the softness in mobile data this quarter versus last quarter? Was this more because of competition or macroeconomic headwinds? Thanks for that question, and good morning, everyone. Based on what we have observed so far, the softness in mobile is predominantly driven by weaker macroeconomic factors, as the competitive environment in Q2 did not significantly escalate in Q3. With high inflation rates and high prices in commodities, we are seeing softness in spend among our prepaid mass market customers in Q3 relative to what we've seen in Q2. Such customers have been economizing on their total household spend, leading to the shrinkage of their own telco spending, which resulted into heavier usage or optimization in MDS. This is evident in how total mobile traffic increased even as ARPUs have slightly declined in Q3, offsetting the gains in net adds. Having said that, though, amidst a more difficult environment, it is worthy to note that our overall Q3 mobile performance this year has been our second best ever Q3 showing following a record high performance in 2019. Thank you, Darius. The next set questions rather come from Arthur Pineda of Citi. The first question pertains to Mynt, so this is for Tek. What drove down the profit for Mynt? How should we see this trending in the following quarters? Thanks for the question, Arthur. We've discussed in the past, despite one, being one of the few fintechs in the world that is profitable, I think the priority has always been to grow in scale. For the third quarter of the year, we actually made very purposeful spends, as we launched various products, in the quarter. GCash Jr., for example, as well as kinda like continuing to scale with our merchants and sari-sari store re-rollout, particularly in the region. With our thrust towards financial inclusion, we expect different levels of spend in order to really sustain the growth in the future. We wanna capitalize on opportunities to provide access to financial services, and given this, if your question is really on how to forecast and whatnot, I think it's to be really very difficult to simply use the current results to project the trend moving forward. Having said that, we take pride that we are one of the few fintechs that is profitable, and we believe that we have the right unit economics today across our different use cases to be continuously profitable across the year. Thank you, Tek. The second question pertains to broadband and therefore that's for Issa. The question is, fixed broadband net additions had accelerated and outperformed peers. What has changed from prior quarters, and what price plans are users mainly taking up? I think I answered this a little bit earlier, but the net adds clearly having increased at 145% versus last quarter mainly was driven by our all-new GFiber plans. As mentioned, they are mostly on the plan 1299 and 1699. We would like to sustain our postpaid subscribers as we continue to leverage big partnerships, the latest of which we just announced, which is with Disney+. Looking forward to a stronger growth, I guess, still on our broadband business. Thank you, Issa. The next set of questions come from Hussaini Seifee of UBS. The first question pertains to mobile, and therefore for Darius. The question is, what drove subscriber losses and churn increase in the postpaid segments? Thanks for that question. Postpaid mobile churn did increase in Q3 versus Q2, but a significant portion of it is related to Smartmatic subscriptions used during the elections on the enterprise side. Normalizing for the impact of Smartmatic, postpaid mobile churn, and consequently net adds even improved in Q3 compared to Q2. Okay. Thanks, Darius. The next question again is for broadband and therefore for Issa. Question is, fixed wireless subscriber loss continued in the third quarter. What drove this? When should we expect it to stabilize? Broad question here is, how should we see home broadband growth given the 25% household penetration and macro concerns? For the last 2 years, our home prepaid Wi-Fi business has been increasing sharply due to the pandemic, using it as backup or interim connection. Now that we are back to the new normal, the base is already normalizing, but still higher than the pre-pandemic base, as we still continue to clean up as well. We are switching our wireless subscribers to a more stable wired connection, as seen in our net adds, which increased by 145% versus last year. Okay. Thank you, Issa. The next question is also regarding broadband. When is Globe launching prepaid fixed broadband? For the prepaid market, we announced already in the last quarter disclosure that we have launched our TMBayan Prepaid Fiber. As mentioned also earlier, now with over 600 sites for our community prepaid fiber product. We will also be launching a new GFiber prepaid product soon with speeds and reliability of a fiber connection, but the flexibility and affordability of a prepaid. Okay, thanks for that, Isa. We have additional questions, of course, from Hussaini Seifee of UBS. He has a question on the decline in Mynt's equity contribution, but I think this has already been answered earlier by Tek. The next question is on mobile for Darius. What is your view on mobile growth? Which is a bigger concern, competition or the macroeconomic slowdown? Again, thanks for that question. On the first question, we expect overall spending on mobile to improve a bit heading towards the holidays, which is what we're seeing already. In 2023, the economic pressure in telco spending may remain for the most part, where we expect customers to continue to reprioritize their household budgets and optimize their telco spending, and this is more pronounced especially among the mass market. We will strive to re-engage and recover loaders and maximize profits with our upcoming initiatives to increase overall revenues and profitability across brands moving forward, while continuing to improve network and IT reliability amidst a tougher economic environment. On the second question, as also mentioned previously, the intensity level of competition has not worsened or escalated since Q2, so the bigger concern for us would be the economic slowdown that impairs the spending capability of the broader prepaid base for telco. Okay. Thank you, Darius. The last question from Hussaini Saifee pertains to 2022 being the peak CapEx year, and I think this was clearly answered by Rizza in her presentation, so that's that. The next set of questions come from. Well, there's a follow-up question from Miguel de Leon of COL Financial. This is for Tek pertaining to Mynt. What caused the sharp decline in Mynt's profits in 3Q versus the 1Q and 2Q? I think we'll again refer Miguel de Leon to answer given by Tek earlier. Okay, the next set of questions come from Stephen Oliveros of China Banking Corporation. The first question is pertaining to how mobile top-ups fared during the third quarter versus... Going into the Q4, and how do you see the trend going forward? I think Darius already answered this in his earlier answers asked by COL Financial and then UBS. The second question is the outlook for 2023, and what are the drivers? I think this was also answered by Darius earlier when this was asked by UBS. The third question pertains to broadband, and this is for Isa. The question is: Do you see any signs of moderating growth in the fiber business? As we've shared in the last quarter briefing, we believe that the post-paid market is already nearing saturation, but we still see a market on the prepaid segment, which is in line with our plan to make fast broadband services available for the broader market and ideally to still increase penetration within the Filipino households. Yeah. Thank you, Issa. The next set of questions come from Rachel Rodriguez of Maybank, and the first question pertains to broadband and therefore for Isa. Can you share your churn data on fixed line and wireless broadband? What is your outlook for subscriber growth going forward? Churn numbers are not usually disclosed, but let me give you some indication from a percentage increases perspective. Churn for fixed line increased by 14% Q1 owing to the cleanup of a debt in our legacy technologies. For wireless, it actually declined by 8% quarter-on-quarter as we engaged most of our HPW or home prepaid Wi-Fi subs. Okay, thank you, Issa. The next question pertains to towers, and I think this is for Rizza. The question is: What is the timeline for the recognition of the gain on tower sale and receipt of proceeds? Thanks for that. I think in one of my slides I did mention that we recently had our first closing with Frontier and MIDC last September and October respectively. Subsequent closings will happen as and when closing conditions are met, but we expect the final closing for all three portfolios to happen within next year. Thank you, Rizza. Next question again pertains to broadband, and of course, this is for Issa. Can you share an update on your prepaid fiber revenues? As also mentioned, in my section, for the TMBayan Fiber WiFi, we have already rolled out over 600 sites as of November 11. We are still in the very early stages of adoption, and we will continue to drive education among the broader Filipino market on this new fantastic offering from Globe. Okay. Thank you, Issa. The next set of questions come from Derrick Guarin of CLSA. His first question pertains to Mynt, and I think this was already answered earlier by Tek, so we can just refer Derrick to the answer. The second is again, this is for Tek. Is there seasonality in transactions for GCash? In essence, there is. We start to see pick-ups in terms of acquisitions across the year, consistent with, say, for example, when you're doing your holiday season spends and people kinda go out and start to transact, right? But given the fact that we've been growing significantly month on month anyway, that's the seasonality has kinda been drowned out a little. But as we look at, for example, in terms of profitability in the spends that we do, we start to pick up in terms of our marketing spend also in the tail end of the year. That's actually affected the, for example, the third quarter profitability that I alluded to earlier. Thank you, Tek. The next question comes from Jojo Gonzales of PEP, regarding costing in connection to SIM registration. This, I believe, is for Rizza. The question is: Would there be an estimate of the added costs the company may incur to implement SIM registration? Hi, Jojo. We are still in the process of scoping any CapEx or OpEx requirements and we are highly dependent on the final IRR, which Roy had mentioned, and we will update the market once we have more clarity on what the details of the IRR will be. Okay. Thanks, Rizza. Again, we would like to ask our audience if they have any questions. Can they just send an email to investorrelationsteam@globe.com.ph and we will read them here. Or if we don't have more time, we'll just answer after the call. Okay. The next question is from Chunky Ong of JP Morgan, and I think this is for Rizza. What has been the overall impact on Globe as a result of the weaker peso versus the dollar? How does the group plan to mitigate this impact? Thanks, Chunky. FX risk from a volatility point of view is managed from our perspective, and we do this via currency swaps. As of end of the period, close to 100% of all our USD debt is hedged to peso, and we maintain a close to neutral position to minimize the impact to our P&L. Okay. Thank you, Rizza. The next question is from Lady Adeline Bermudez of First Metro Securities. I think this is more of a housekeeping question. What is Globe's current smartphone penetration rate and the number of active data users? Smartphone penetration on network at the moment is 85% and, as was shown earlier in the presentation, mobile active data users is at 38 million. Thank you for that question. The next set of questions come from Herman dela Paz of BDO Securities Corporation. I think this is for Issa. What percentage of fixed wire subs are fiber subscribers? 90% of fixed wire are actually already fiber subscribers. Note that this is a big increase in contribution versus Q3 of 2021, wherein it only accounted for 68% of our fixed wire business back then. Thank you, Issa. The next question is for Mynt and therefore is for Tek. Is there an updated timeline on Mynt's public listing? Now it's basically the kind of like a tech winter. I guess it's not the best time for an IPO. Well, we're using this time to continue to focus on our growth and to create more value for our customers and the stakeholders, as well as build the digital ecosystem so that when, if and when we do come out, we're basically a very different company by then. Okay. Thank you, Tek. Tech winter indeed. Okay. The next question is from Zoren Philip Musni of Security Bank. I think this is for Riza. The question is: What drove the decline in Globe's common cash dividends in the recent quarter versus past quarters? How should we look at your payout in light of having lots of cash from the tower sale, SRO and data center joint venture? Thanks, Zoren. The movement in DPS is a function of our increased number in shares because of our recent SRO, so we added another 10 million common shares. In terms of future payout, which was the second part of the question, as we all know, our board decides on dividends every quarter, so we will just update as we go on. Thanks. Okay. Thank you, Rizza. Again, for any additional questions, please, send them by email to investorrelationsteam@globe.com.ph. If not, we won't be able to answer them during the session. We'll be answering them offline after. Thank you very much. Having mentioned earlier that we have a hard stop at 10:30 A.M., that concludes the Q&A session. Again, we would like to turn you over to Ernest for his closing remarks. Thank you. Thank you, Jose Mari. Once again, I'd like to thank everyone for your continued interest in Globe's results and for taking time out this morning. As you can pretty well note by the tone of the presentation, we're very, very pleased with our 9-month 2022 results. It's a record-breaking number that we've been producing in terms of both revenues and EBITDA. You know, this is, of course, despite the macroeconomic challenges that we're facing today. As you know, we're a mass market company and the mass market cohort that we deal with and serve are the ones that are truly affected by this inflationary pressures that we're facing. We're also very pleased by the performance of our digital platform businesses. You know, such as Mynt as well as others you see I've mentioned that are now contributing quite a bit to our revenues. You know, one of the things that we wanna do is bridge some of the difficulties we have and limitations of the format that we have today, which is fewer Zoom or fewer offline. You know, we know that while it reaches quite a number of people, it doesn't give you the full opportunity to ask questions and truly appreciate and understand what the Globe Group is all about. Because of that, we're pleased to announce that we'll be hosting our Globe Group Day event on the twenty-ninth of November. It will be the second time we'll be doing this, and it will be a physical, a face-to-face meeting to be held in our head office at the Globe Tower. We will be having plenary discussions that will cover not only the core telco business but also latest updates from our startups and digital platform businesses. In addition, we will be doing an office tour of the various Globe Group offices in BGC. That's the 917Ventures office, as well as the Mynt offices in BGC. We would like to invite all of you, our friends from the investment community, commercial banking community. There will also be members of the consulting industry that will be there to join us for this great event. I'm gonna thank you once again. I hope to see you during our Globe Group Day on the twenty-ninth. If not, then we'll see you on our fourth quarter 2022 analyst briefing next year. Again, thank you very much. Have a great week ahead. Thank you.