Interim report
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G L O B E T E L E C O M , I N C . 1 2 3 1 1 7 Q 0 4 2 2 Dept. Requiring this Doc. Total No. Of Stockholders Remarks = pls. Use black ink for scanning purposes Document I.D. Cashier S T A M P S JUAN CARLO C. PUNO (632) To be accomplished by SEC Personnel concerned LCU File Number Amended Articles Number/Section Total Amount of Borrowings Domestic Foreign Fiscal Year Annual Meeting Secondary License Type, if Applicable Month Day Day Month FORM TYPE (Business Address: No. Street City / Town / Province) Contact Person Company Telephone Number COVER SHEET (Company's Full Name) P W 0 0 0 0 1 1 7 7 2 7 / F T H E G L O B E T O W E R 3 2 N D S T R E E T C O R N E R 7 T H A V E N U E B O N I F A C I O G L O B A L C I T Y T A G U I G 7797-2000 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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SEC Number 1177 File Number ____ GLOBE TELECOM, INC. (Company’s Full Name) The Globe Tower 32nd Street corner 7th Avenue, Bonifacio Global City, Taguig (Company’s Address) (632) 7797-2000 (Telephone Numbers) 30 September 2025 (Quarter Ending) SEC FORM 17-Q (Form Type) Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-Q QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER 1. For the nine months ended 30 September 2025 2. Commission identification number: 1177 3. BIR Tax Identification No. 000-768-480-000 4. Exact name of registrant as specified in its charter: GLOBE TELECOM, INC. 5. Province, country or other jurisdiction of incorporation or organization: Metro Manila, Philippines 6. Industry Classification Code: (SEC Use Only) 7. Address of registrant’s principal office: The Globe Tower 32nd Street corner 7th Avenue, Bonifacio Global City, Taguig 8. Registrant’s telephone number, including area code: (632) 7797-2000 9. Former name, former address and former fiscal year, if changed since last report: N / A 10. Securities registered pursuant to Sections in Securities Regulation Code Number of shares of stock Title of each class outstanding Common Stock, P50.00 par value 144,468,524 Voting Preferred Stock, P5.00 par value 158,515,021 11. Are any or all the Securities listed on the Philippine Stock Exchange? Yes 12. Indicate whether the registrant: a) Has filed all reports required to be filed by Section 17 of the Code and SRC Rule 17 thereunder or Sections 11 of the SRC and SRC Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding 12 months (or for such shorter period the registrant was required to file such reports). Yes b) Has been subject to such filing requirements for the past 90 days. Yes Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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GLOBE TELECOM, INC. AND SUBSIDIARIES MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE NINE MONTHS ENDED 30 September 2025 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS Our unaudited condensed consolidated financial statements include the accounts of Globe Telecom, Inc. and its subsidiaries such as, Innove Communications, Inc. (herein referred to as “Innove”), GTI Business Holdings, Inc. (GTI) and its subsidiaries, Kickstart Ventures, Inc. (Kickstart) and subsidiaries, Asticom Holding Co. Inc. (Asticom) and subsidiaries, Globe Capital Venture Holdings Inc. (GCVHI) and its subsidiaries, Bayan Telecommunications, Inc. (Bayan) and its subsidiaries, TaoDharma Inc. (Tao), GTowers Inc., and Yondu Inc. and subsidiaries. The unaudited condensed consolidated financial statements for the nine months ended September 30, 2025 (filed as Annex 1 of this report) have been prepared in accordance with Philippine Accounting Standard 34, Interim Financial Reporting and hence do not include all of the information required in the December 31, 2025 annual audited financial statement. ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following is a discussion and analysis of Globe’s financial performance for the nine months ended September 30, 2025. The prime objective of this MD&A is to help the readers understand the dynamics of the Company’s business and the key factors underlying its financial results. Hence, Globe’s MD&A comprised of a discussion of its core business, and analysis of the results of operations for each business segment. This section also focuses on key statistics from the unaudited consolidated financial statements and pertains to known risks and uncertainties relating to the telecommunications industry in the Philippines where we operate up to the stated reporting period. However, Globe’s MD&A should not be considered all inclusive, as it excludes unknown risks, uncertainties and changes that may occur in the general economic, political and environmental condition after the stated reporting period. The Company has adopted an expanded corporate governance approach in managing its business risks. An Enterprise Risk Management Policy was developed to systematically view the risks and to manage these risks in the context of the normal business processes such as strategic planning, business planning, operational and support processes. The Company’s MD&A should be read in conjunction with its unaudited consolidated financial statements and the accompanying notes. All financial information is reported in Philippine Pesos (Php) unless otherwise stated. Any references in this MD&A to “Globe” or “Company” include Globe Telecom, Inc., and its subsidiaries and affiliates. Additional information about the Company, including annual and quarterly reports, can be found on our corporate website www.globe.com.ph Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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TABLE OF CONTENTS OVERVIEW OF OUR BUSINESS 6 KEY PERFORMANCE INDICATORS 21 FINANCIAL AND OPERATIONAL RESULTS 23 GROUP FINANCIAL SUMMARY 23 GROUP OPERATING REVENUES 25 MOBILE BUSINESS 26 FIXED LINE AND HOME BROADBAND BUSINESS 34 Home Broadband 34 Corporate Data 35 Fixed line Voice 35 OTHER GLOBE REVENUES 36 GROUP OPERATING EXPENSES 37 LIQUIDITY AND CAPITAL RESOURCES 40 FINANCIAL RISK MANAGEMENT 44 LEGAL, REGULATORY AND CORPORATE DEVELOPMENTS 47 OTHER RELEVANT INFORMATION 51 SIGNATURES 53 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES EXHIBIT I: AGING OF ACCOUNTS RECEIVABLE EXHIBIT II: GLOBE SUSTAINABILITY Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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OVERVIEW OF OUR BUSINESS Globe Telecom, Inc. is a leading digital platform in the Philippines with interests in telecommunications, fintech, venture building, shared services, and digital marketing. The company serves the telecommunications and technology needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connectivity, internet and managed services. Globe currently has 63.1 million mobile subscribers, 2.1 million Home Broadband customers, and over 631 thousand landline subscribers. The company is supported by 6,662 employees and over 397 thousand AutoloadMax (AMAX) retailers, distributors, and business partners nationwide. Globe is one of the largest companies in the country, and has been consistently recognized both locally and internationally for its corporate governance practices. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of US$3.7 billion as of the end of September 2025. The Company's principal shareholders are Ayala Corporation and Singapore Telecom, both acknowledged industry leaders in the country and in the region. Aside from providing financial support, this partnership has created various synergies and has enabled the sharing of best practices in the areas of purchasing, technical operations, and marketing, among others. Sustainability at Globe is anchored on The Globe Purpose, “Uplift Filipino Lives Everyday”. As a purpose-led organization, the Company aims to contribute to the UN Sustainable Development Goals by promoting innovation and technology for greater social and environmental impact. Globe became a signatory to the United Nations Global Compact in 2019, wherein the company has committed to implement universal sustainability principles on human rights, labor, environment, and anti-corruption (Ten Principles of the UN Global Compact). Globe is the first publicly listed company in the Philippines to get the Science Based Targets initiative’s (SBTi) validation and approval of its science-based net-zero target by 2050. (Published in the SBTi website (https://sciencebasedtargets.org/companies-taking-action) in March 2024). Globe is composed of the following companies: ● Globe Telecom, Inc. (Globe) provides digital wireless communications services in the Philippines under Globe Postpaid and Prepaid (including fully Mobile, internet-on-the-go services and GOMO), and Touch Mobile (TM). Globe provides digital mobile communication and internet-on-the-go services nationwide using a fully digital network based on the Global System for Mobile Communication (GSM), 3G, HSPA+, 4G, LTE and 5G technologies. It provides voice, SMS, data and value-added services to its mobile subscribers. It also offers domestic and international long distance communication services or carrier services; ● Innove Communications Inc. (Innove), a wholly-owned subsidiary, holds a license to provide digital wireless communication services in the Philippines. Innove also has a license to establish, install, operate and maintain a nationwide local exchange carrier (LEC) service, particularly integrated local telephone service with public payphone facilities and public calling stations, and to render and provide international and domestic carrier and leased line services. On November 2, 2015, Innove and Techzone Philippines incorporated TechGlobal Data Center, Inc. (TechGlobal), a joint venture company formed for the purpose of operating and managing all kinds of data centers, and providing information technology-enabled, knowledge-based and computer-enabled support services. Innove and Techzone hold ownership interest of 49% and 51%, respectively. TechGlobal started commercial operations in August 2017. SEC Form 17Q – 3Q 2025 6 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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● GTI Business Holdings, Inc. (GTI) and Subsidiaries Globe Telecom owns 100% of GTI. GTI was incorporated and registered under the laws of the Philippines, on November 25, 2008, as a holding company.; GTI Corporation (GTIC) In July 2009, GTI incorporated a wholly owned subsidiary, GTI Corporation (GTIC), a company organized under the General Corporation Law of the United States of America, State of Delaware as a wireless and data communication services provider.; Globe Telecom HK Limited (GTHK) In December 2011, GTI incorporated a wholly owned subsidiary, GTHK, a limited company organized under the Companies Ordinance of Hong Kong as a marketing and distribution company. On March 17, 2015, GTHK applied for a services-based operator license (SBO) with the Office of the Communications Authority in Hong Kong (OFCA) which was subsequently approved on May 7, 2015. As of June 1, 2020, the SBO was cancelled and surrendered to the OFCA and GTHK has been winding down its operations. GTHK was previously engaged in the marketing and selling of telecommunication products and services in the international market, except the United States of America and the Philippines, under a distributor arrangement. On March 27, 2024, the director resolved and signed a written resolution with the purpose of placing GTHK into liquidation. As of the reporting date, the completion of the regulatory requirements on the liquidation of GTHK is still in process.; Globetel European Limited (GTEU) On May 10, 2013, GTI incorporated a wholly owned subsidiary, GTEU as holding company for the operating companies of Globe located in the United Kingdom, Spain and Italy. Globetel Singapore Pte. Ltd. (GTSG) On November 12, 2014, GTI incorporated GTSG, a wholly owned subsidiary, for the purpose of offering full range of international data services in Singapore under a facilities-based operations license (FBO) with Infocomm Media and Development Authority (IMDA) in Singapore which was granted on January 7, 2015; CaelumPacific Corp. (CaelumPacific) and Subsidiaries On July 30, 2020, GTI incorporated CaelumPacific, a wholly owned subsidiary organized under the laws of the Philippines for the purpose of providing technical consulting and IT related services. On July 31, 2020, Caelum US Holdings Inc. (Caelum US), a wholly owned subsidiary of Caelum Pacific, was incorporated under the laws of the state of Delaware as a holding company. On August 3, 2020, Caelum Northwest Corp. (Caelum Northwest), a wholly owned subsidiary of Caelum US, was incorporated under the laws of the state of Washington for the purpose of customized cloud software development and providing cloud consulting services. On November 3, 2020, the definitive agreements between Caelum Group and Cascadeo were signed and executed following the completion of all relevant conditions relating to the sale of assets of Cascadeo in the Philippines and the US. Cascadeo is a group of companies in the Philippines and US which offers cloud-native consulting and managed services capabilities for enterprises and small and medium business customers. The asset purchase agreement entered into by Caelum Group and Cascadeo entities also mandated a holding company established by SEC Form 17Q – 3Q 2025 7 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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the sellers to invest in 16.67% of CaelumPacific’s capital, effectively reducing GTIBH’s ownership to 83.33%. On May 30, 2021, the Board of Directors approved GTI’s additional capital infusion amounting to $500,000, effectively increasing GTI’s ownership to 85%. On February 11, 2022, the Board of Directors approved GTI’s additional capital infusion amounting to $2.00 million, which further increased GTI’s ownership to 88%. On December 15, 2022, the ownership of CaelumPacific and Subsidiaries was transferred from GTI to Yondu, Inc., a wholly-owned subsidiary of Globe Telecom. On March 7, 2024, the director of Caelum Northwest and Caelum US approved the dissolution of the Companies. Subsequently, on July 29, 2024, the Department of Revenue State of Washington issued a revenue clearance certificate, allowing both companies to proceed with its dissolution. As of the reporting date, regulatory requirements for the dissolution of both companies are still subject to completion. On October 28, 2024, the ownership of CaelumPacific and Subsidiaries was transferred from Yondu, Inc. to GTI, a wholly-owned subsidiary of Globe Telecom. On February 6, 2025, GTI and Cirrus Mountain Investments (Cirrus) signed a deed of assignment for the latter’s transfer of its 51 million shares in CaelumPacific to GTI for a total consideration of $0.39 million (₱22.55 million). The excess of consideration over the carrying amount of the non-controlling interest was recognized under equity reserves amounting to ₱40.89 million (see Note 13.8). The acquisition increased GTI’s ownership to 100%. On May 30, 2025, the CaelumPacific’s Board of Directors (BOD) and Shareholders approved resolutions of shortening the Company’s corporate term to end on July 30, 2027 and approved its closure. ● Kickstart Ventures, Inc. (Kickstart) and Subsidiaries On March 28, 2012, Globe Telecom incorporated Kickstart, a stock corporation organized under the laws of the Philippines and formed primarily for the purpose of investing in individual, corporate, or start-up businesses, and to do research, technology development and commercializing of new business ventures. In February 2014, Kickstart acquired 40% equity interest in Flipside Publishing Services, Inc. (FPSI). Since Kickstart was able to demonstrate control over FPSI despite having less than 50% ownership interest, FPSI was assessed to be a subsidiary of Kickstart and is included in the consolidation of Globe. FPSI is engaged in acquiring publishing rights to produce, publish, market, and sell printed and electronic books (e-books) and other electronic documents and content for international and domestic sales. FPSI ceased operations in July 2016. FPSI remains a dormant company as of reporting date. In February 2020, Kickstart registered three Cayman Islands exempted companies with limited liabilities, namely (1) Kickstart Capital Co. Ltd. (KCCL), a wholly owned subsidiary of Kickstart; (2) AG Active Associated I, Limited, a wholly owned subsidiary of KCCL; and, (3) Kickstart Ventures Co. Ltd., a 65% owned subsidiary of KCCL. These entities were formed as a platform for the management of third-party venture capital investment funds. On December 15, 2023, KCCL incorporated its wholly-owned subsidiary, Kickstart Holdings Company, Ltd., (KHCL) for future venture capital investments. SEC Form 17Q – 3Q 2025 8 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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● Asticom Holding Co. Inc. (Asticom, formerly known as Asticom Technology, Inc.) and Subsidiaries On June 3, 2014, Globe Telecom signed an agreement with Azalea Technology Investments Inc. (ASTI) and SCS Computer Systems, Pte. Ltd. acquiring 100% ownership stake in Asticom. Asticom is primarily engaged in providing business process and shared service support, as well as IT system integration and consultancy services. On August 20, 2020, Asticom incorporated its wholly owned subsidiary, Asticom Business Services, Inc. (ABSI). ABSI was incorporated to leverage Asticom's business growth, particularly its full-BPO services offering. On January 26, 2021, Asticom incorporated its wholly owned subsidiary, Fiber Infrastructure and Network Services Inc. (FINSI). FINSI was incorporated to provide end-to-end services and industry-specific solutions to telecommunications and telecommunications-related companies. In March 2021, FINSI started its commercial operation. On April 12, 2021, Asticom incorporated its wholly owned subsidiary, BRAD Warehouse and Logistics Services Inc. (BRAD). BRAD was incorporated to engage in the business of transporting, shipping, receiving, storing and managing products and services using technology platforms for third-party providers. On November 29, 2021, ABSI acquired 100% of HCX Technology Partners, Inc., a full-fledged systems integration company offering human capital, customer relationship management and digital solutions to its clients. On July 27, 2022, Asticom incorporated its wholly owned subsidiary, Acquiro Solutions and Tech Inc. (ACQR) to provide manpower services for support and shared services of administrative functions, information technology including consultancy services for offshore development services and other related services. On June 14, 2024, SEC approved the amendment of Asticom’s article of incorporation which effectively changes its corporate name to Asticom Holding Co. Inc., as well as its primary purpose as an investing and holding company.; ● Globe Capital Venture Holdings Inc. (GCVHI) and Subsidiaries On June 29, 2015, Globe Telecom incorporated its wholly owned subsidiary, GCVHI as an investing and holding company primarily engaged in purchasing, subscribing, owning, holding, assigning real and personal property, shares of stock and other securities. In August 2019, GCVHI was rebranded to “917 Ventures” and will house Globe Telecom’s non-telco incubated products. On October 13, 2015, GCVHI incorporated its wholly owned subsidiary Adspark Holdings, Inc. (AHI), a holding company established for the acquisition of additional investment in Globe Telecom’s non-core business. AHI holds 100% of Adspark Inc. (AI), an advertising company. AI holds 100% of Socialytics Inc. (Socialytics), a social media marketing firm. On September 1, 2021, AHI acquired 100% of Techgroowers, Inc., a company engaged in data and software-related services through the utilization of telecommunications facilities. On March 22, 2022, the SEC approved the amendment of Techgroowers’ articles of incorporation which effectively changes its corporate name to M360, Inc., as well as its primary purpose which is to engage in the business of application-to-person (A2P) messaging. On February 4, 2020, GCVHI incorporated 917Ventures, Inc. as a holding company for GCVHI’s business incubators. SEC Form 17Q – 3Q 2025 9 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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On December 1, 2022, AHI acquired 49% and 51% of outstanding shares of Inquiro from 917Ventures, Inc. and Jerusalem Ventures Holdings Inc. (JVHI), respectively. The acquisition increased Globe’s ownership interest from 49% to 100% and was accounted for as an acquisition of a subsidiary. Inquiro was incorporated to provide data management and other data-related services, through the utilization of telecommunication facilities. On February 14, 2023, the SEC approved the amendment of AHI’s articles of incorporation which effectively changed its corporate name to Brave Connective Holdings, Inc. (BCHI). On June 5, 2023, 917Ventures, Inc. incorporated its wholly owned subsidiary Slyce Digital, Inc. to engage in the business of developing, marketing, advertising, managing, and operating technology platforms.; ● Bayan Telecommunications Inc. (BTI) and Subsidiaries Globe Telecom owns 99% of BTI, a stock corporation organized under the laws of the Philippines and enfranchised under RA No. 11503 and its related laws to render domestic and international telecommunications services. BTI is a facilities-based provider of data services and fixed-line telecommunications. BTI’s subsidiaries are: Radio Communications of the Philippines, Inc. (RCPI), Telecoms Infrastructure Corp. of the Philippines (Telicphil), Sky Internet, Incorporated (Sky Internet), GlobeTel Japan (formerly BTI Global Communications Japan, Inc.), and NDTN Land, Inc. (NLI), (herein collectively referred to as “BTI Group”).; ● Taodharma Inc. (Tao), 67% owned by Globe Telecom. Tao was established to operate and maintain retail stores in strategic locations within the Philippines that will sell telecommunications or internet-related services, and devices, gadgets and accessories.; ● GTowers Inc (GTowers), a fully owned subsidiary of Globe Telecom incorporated. On August 17, 2018, GTowers was incorporated and registered under the laws of the Philippines. GTowers is still under pre-operating stage as of reporting date.; ● Yondu, Inc. and Subsidiaries Yondu, a wholly owned subsidiary of Globe Telecom, is engaged in the development and creation of wireless products and services accessible through mobile devices or other forms of communication devices. It also provides internet and mobile value-added services, information technology and technical services including software development and related services. Yondu is registered with the Department of Transportation and Communication (DOTC) as a content provider. Yondu holds 100% of Rocket Search, Inc. (formerly Yondu Software Labs, Inc.), a company primarily engaged in providing information technology (IT) products and services and engaged in IT placement services. On December 15, 2022, Yondu acquired the ownership of Third Pillar Business Applications, Inc. (TPBAI) and Subsidiaries and CaelumPacific and Subsidiaries from GTI, a wholly-owned subsidiary of Globe Telecom.; On October 28, 2024, the ownership of CaelumPacific and Subsidiaries was transferred from Yondu, Inc. to GTI, a wholly-owned subsidiary of Globe Telecom. On March 26, 2025, Globe Telecom entered into an agreement with NCSI Holdings Pte. Ltd (NCSI) to hold 51% ownership in Globe’s subsidiary, Yondu, as well as Yondu’s acquisition of NCSI Philippines (NCS PH), making NCS PH a fully owned subsidiary of Yondu. Upon closing, Globe will retain 49% ownership in Yondu and NCS PH. Consequently, assets and liabilities with SEC Form 17Q – 3Q 2025 10 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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net book value of ₱1,737.81 million (including cash and cash equivalents of ₱349.06 million) and ₱552.05 million as of September 30, 2025, were reclassified as assets held-for-sale and liabilities held-for-sale, respectively, in Globe’s consolidated statements of financial position. Yondu, while a distinct Cash Generating Unit, is not part of Globe's major lines of business. Consequently, it’s operational results will continue to be reported as part of Globe’s continuing operations in the consolidated statements of comprehensive income until the transaction’s closing date. As of September 30, 2025, the closing of the transaction and actual transfer of ownership are still in progress. Third Pillar Business Applications, Inc. (TPBAI) and Subsidiaries On August 17, 2020, GTI entered into a Share Purchase Agreement for the acquisition of 67% of TPBAI. TPBAI, a corporation organized under the laws of the Philippines, is engaged in systems integration, license reselling, and data management services. Third Pillar Global Delivery Center Inc. (TPGDC) is a wholly owned subsidiary of TBAI that is engaged in software implementation and maintenance services and the outsourcing arm of TPBAI. On January 1, 2022, TPBAI incorporated Third Pillar Asia Pacific Pte. Ltd. (TPAPPL), a wholly owned subsidiary organized under the laws of Singapore, as part of TPBAI’s expansion to Asia Pacific.; On December 15, 2022, the ownership of TPBAI and Subsidiaries was transferred from GTI to Yondu, Inc., a wholly-owned subsidiary of Globe Telecom; On July 8, 2024, the Board of Directors approved Yondu’s additional capital infusion amounting to ₱20.00 million, which further increased Yondu’s ownership to 85%; In April 2025, Yondu and Third Pillar’s minority shareholders signed a deed of assignment to transfer the latter’s shares to Yondu for a total consideration of ₱6.80 million. The excess of consideration over the carrying amount of the non-controlling interest was recognized under equity reserves amounting to ₱4.58 million. The acquisition increased Yondu’s ownership in Third Pillar to 100%; ● Electronic Commerce Payments, Inc. (ECPay), is primarily engaged in the business of providing IT and e-commerce solutions, including, but not limited to, prepaid phone and internet products, bills payments and others. On October 25, 2019, Globe Telecom acquired 77% ownership of ECPay. On September 29, 2023, Globe Telecom entered into a Share Purchase Agreement with Globe Fintech Innovations, Inc. (Mynt) for the sale of Globe’s 77% investment in ECPay for a total consideration of ₱2,310.00 million. Thereafter, Globe Telecom ceased to consolidate ECPay as certain terms and conditions in the Share Purchase Agreement constrained Globe’s exposures and rights to variable returns. At the date of deconsolidation, the fair value of Globe’s interest in ECPay was reclassified to Assets held-for-sale under the current assets section in Globe’s consolidated statement of financial position. The resulting gain amounting to ₱76.67 million was recognized in the consolidated statements of comprehensive income in 2023. The closing of the transaction and actual transfer of ownership was subjected to the review by the Philippine Competition Commission (PCC). On May 14, 2025, PCC issued a certification allowing the transaction to proceed, subject to strict compliance by ECPay and Mynt of their voluntary commitments. SEC Form 17Q – 3Q 2025 11 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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On August 5, 2025, the closing of the transaction and transfer of ownership were completed. Globe Telecom is a grantee of various authorizations and licenses from the National Telecommunications Commission (NTC) as follows: (1) license to offer and operate facsimile, other traditional voice and data services and domestic line service using Very Small Aperture Terminal (VSAT) technology; (2) license for inter-exchange services; and (3) Certificate of Public Convenience and Necessity (CPCN) for: (a) international digital gateway facility (IGF) in Metro Manila, (b) nationwide digital cellular mobile telephone system under the GSM standard (CMTS-GSM), (c) nationwide local exchange carrier (LEC) services after being granted a provisional authority in June 2005, and (d) international cable landing stations located in Nasugbu, Batangas, Ballesteros, Cagayan and Brgy. Talomo, Davao City. Globe is organized along two key customer facing units (CFUs) tasked to focus on the integrated mobile, Fixed Line and international voice and roaming needs of specific market segments. The Company has a Consumer CFU with dedicated marketing and sales groups to address the needs of retail customers, and a Business CFU (Globe Business) focused on the needs of big and small businesses. Globe Business provides end-to-end mobile and Fixed Line solutions and is equipped with its own technical and customer relationship teams to serve the requirements of its client base. Moreover, it is tasked to grow the Company's international revenues by leveraging Globe's product portfolio and developing and capitalizing on regional and global opportunities. CORE TELCO: BUSINESS SEGMENTS Mobile Business Globe provides digital Mobile communication and internet-on-the-go services nationwide using a fully digital network based on the Global System for Mobile Communication (GSM), 3G, HSPA+, 4G, LTE and 5G technologies (https://www.globe.com.ph/5g.html). It provides voice, SMS, and data to its mobile subscribers through three major brands: Globe Postpaid, Globe Prepaid (including fully Mobile, internet-on-the-go service and GOMO) and TM . Postpaid Globe Postpaid is the leading brand in the postpaid market, with various plan offerings. Over the years, these plans have evolved in order to cater to the changing needs, lifestyles and demands of its customers. GPlan Plus All-New GPlan Plus, is the most flexible mobile plan from Globe Postpaid. The All-New GPlan Plus is designed to cater to the evolving needs of today’s consumers who demand more control over their mobile plans and seek value in every aspect of their subscriptions. Now, the All-New GPlan Plus comes with the following benefits that Postpaid customers can enjoy to ensure unlimited freedom and peace of mind: ● Rewards Forever: No-Expiry Rewards Points and Exclusive Perks for all GPlan Plus customers ● Upgraded Network + Unli 5G: Priority network experience vs Globe Prepaid, Free unlimited 5G data for 12 months for new and renewing GPlan Plus customers ● Flagship Forever: Monthly subscription for guaranteed latest device upgrade every year Through the GlobeOne app, users of All-New GPlan Plus 999 to 2499 can exclusively enjoy Data Swap wherein it allows them to swap and convert their allocated gigabytes to a variety of offers based on their liking, including call and text promos, unli data access to mobile games, social media, and messaging apps. They can also choose content subscriptions from Disney+, BeIN Sports, Vivamax, , and Canva. SEC Form 17Q – 3Q 2025 12 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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To get more data, customers can also convert their call and text allowance into gigabytes or choose to get a 12 or 24-month contract period with their plan. The additional data can be used to further customize their plans to fit their unique needs and lifestyles. This Do-It-Yourself approach ensures that no data goes to waste, allowing customers to maximize the value of what they paid for. Moreover, the All-New GPlan Plus includes discounts of up to 30% OFF and other best-value deals on the latest devices, giving customers more reasons to upgrade. Whether applied for or renewed through Globe Stores or the Globe Online Shop, the process remains seamless, ensuring customers can easily access the latest technology and elevate their mobile experience. Customers may opt to purchase select mobile devices at "discounted" prices, with various payment options such as via select credit card either straight or installments for up to 36 months at zero interest, and charge to bill for renewing customers.(See also https://www.globe.com.ph/postpaid.html for more details). All-new Platinum GPlan and GPlan PLUS Enjoy all the things that matter and live life worry-free with Globe Platinum, bringing simplicity made with greatness. Enjoy all the things that matter and live life worry-free with Globe Platinum, bringing simplicity made with greatness. The Platinum GPlan Plus comes with no lock-up, unlimited mobile data surfing, built-in inclusions such as Cyber Insurance, International Lounge Access via DragonPass, Gadget Xchange device protection coverage through the Gadget Xchange add-on, free access to THEA, your Platinum Digital Concierge, and a dedicated Platinum Relationship Manager. Beyond these services, customers also benefit from Globe Priority Network, ensuring fast speeds for uninterrupted browsing, streaming, and gaming. Positioned at the forefront of the mobile data highway, Globe Platinum customers get to experience optimal network performance. Platinum GPlan Plus 3799 comes with unlimited mobile data surfing, three days built-in data roaming, built-in Cyber Insurance with up to ₱50,000 coverage, and free one (1) DragonPass voucher for international airport lounge access; All-new Platinum GPlan Plus 4999 comes with unlimited mobile data surfing, five days built-in data roaming, built-in Cyber Insurance with up to ₱75,000 coverage, free two (2) DragonPass vouchers for international airport lounge access, free two (2) years Gadget Xchange coverage when you avail a device, and a dedicated Platinum Relationship Manager; All-new Platinum GPlan 7999 comes with unlimited mobile data surfing, seven days built-in data roaming, built-in Cyber Insurance with up to ₱100,000 coverage, free three (3) DragonPass vouchers for international airport lounge access, free two (2) years Gadget Xchange coverage when you avail a device, a dedicated Platinum Relationship Manager, and free one Home Squad visit. Moreover, Globe Platinum aims to reinforce the Platinum Advantage by sharing more relevant, curated perks, and championing advocacies that matter. In April, Globe Platinum and Gogoro Smartscooters championed sustainability with the launch of Gogoro's newest product, Pulse, and also with several trial events. Globe Platinum has accelerated in sharing delightful perks, and privileges. Customers get a freebie when dining at renowned spots such as A Mano, Steak & Frice, Ramen Ron, and Cibo. When it comes to retail, Globe Platinum has partnered with Innovator, ArmouryPH, and AMEN, to provide online discounts when shopping luxury accessories, travel needs, and thoughtful jewelry. The brand has also extended customers' lifestyle privileges with the extension of Okada's Rewards Circle Elite card, providing them with an extensive array of benefits such as discounts and perks at the Philippines' largest integrated resort. SEC Form 17Q – 3Q 2025 13 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Globe Platinum has also continued in its support of the arts, and indulging customers in this passion by inviting customers to art and lifestyle-inclined events such as Beyond The Box x Toki, and Modern Contemporary Arts Festival 2024. Globe likewise simplified the renewal of mobile postpaid plans (once the subscriber gets past their contract period of 24 months or 6 months) via online. Subscriber can simply go to https://shop.globe.com.ph/ and follow these simple steps (1) Click “Renew My Current Plan”, and choose their preferred Plan and Inclusions (2) Verify the account details (3) Accomplish the Checkout Form (4) Pay any corresponding fees for chosen inclusions (5) Upon submitting the form, subscriber will receive a confirmation email regarding their order. In addition, Globe launched Gadget Xchange, OneNumber and Globe Trade-In for its mobile postpaid customers in 2023. ● Gadget Xchange is a device protection program for Globe Postpaid that lets you switch or replace your device, no questions asked. This means that no documentation will be requested (e.g., police reports. affidavit of loss) upon claim for device switch or replacement. The following services may be availed with Gadget Xchange: (1) Screen Repair or Replacement (2) Device Repair or Replacement and (3) Device Switching. Gadget Xchange is available to new Globe Postpaid and Platinum customers and those qualified for plan renewal. ● Globe’s ONENUMBER is an add-on service that allows you to share your mobile phone number with your smartwatch. With ONENUMBER, you can stay connected even if you're away from your phone. ● Globe Trade-In to Upgrade is a program that allows new and renewing Globe Postpaid customers to trade-in their old device in exchange for a cashback that will be applied to their postpaid bill. Globe Trade-In is currently available at participating GOS and PD Stores nationwide. Prepaid Globe Prepaid (including GOMO1) and TM are the prepaid brands of Globe. Globe Prepaid is focused on the mainstream market while TM caters to the value-conscious segment of the market. Each brand is positioned at different market segments to address the needs of the subscribers by offering affordable innovative products and services. Globe Prepaid and TM subscribers can reload airtime value or credits using various reloading channels including the GlobeOne app, Gcash, bank channels such as ATMs, credit cards, through internet banking, and online loading through https://new.globe.com.ph/buy-load. Subscribers can also top-up via AutoLoadMax retailers nationwide, all at affordable denominations and increments. Loyalty & Rewards Program The Globe Rewards Program - is the Company's way of granting special treats to its active customers for their continued loyal use of Globe's products and services. Awesome rewards await its loyal customers in exchange for the points earned -- more rewards points mean more wonderful perks. Customers need to register/join the Globe Rewards program so they can start earning points and enjoy their rewards. They just need to go to the GlobeOne App, Tap Redeem Rewards, and Click Join Now. Subscribers can: ● Earn Points from Prepaid reloads or monthly Postpaid payments made via the GlobeOne App ● Redeem Rewards in the form of Mobile and Broadband promos, Vouchers for local and global brands, Donation to beneficiaries, and as Cash to select ECPay Retailers. Subscribers have the option to redeem rewards instantly, or accumulate points to avail of higher value rewards. ● Enjoy Perks through special discounts, exclusive treats, and more wonderful surprises 1 GOMO is a fully digital service brand of Globe created to address the needs of the underserved digitally savvy yuppie segment. Simply buy the sim from gomo.ph or through the GOMO PH mobile app. SEC Form 17Q – 3Q 2025 14 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Globe Rewards is also a service that supports customers and extends their buying power even beyond telco services such as food, medicine, and retail products. Customers can use their earned Rewards points to buy the products they need. The Globe Rewards points can be used at over 100 local and global partners for shopping, dining, entertainment, travel, and Globe products nationwide. Customers can also use Globe Rewards points to shop in Lazada, order meals from GrabFood, watch Korean movies using Viu, or even play games through Razer Gold pins. Redeeming of the Globe Rewards points was made easy via the New GlobeOne app: Step 1- Download the New GlobeOne app and click on the “Rewards” tab. Step 2 - Select an offer Step 3 - Click “Redeem.” Step 4 - Wait for the confirmation notification, along with a message from 4438 See also Globe rewards for more details. Postpaid Exclusives Globe Postpaid gives you online to offline exclusive perks and experiences with Postpaid Exclusives. Enjoy experiences such as access to major events, dining experiences, exclusive retail sales, and fitness classes curated especially for our Postpaid customers. They can also enjoy Postpaid Exclusive Rewards from lifestyle discount vouchers to chance to win gadgets and travel packages with their Globe Rewards points. Mobile Data Globe's Mobile Data services provide subscribers with the ability to access the internet through various devices like handsets, tablets, modems, and even smartwatches. Customers can choose from multiple consumable data plans. Globe continuously collaborates with local, regional, and global brands to bring relevant content tailored to its customers' diverse needs, including videos, music, games, and eCommerce. Popular content and entertainment services like Disney+, Facebook, Prime Video, Beetzee Play, Spotify, TikTok, Viber, Grab, Shoppee, Lazada are accessible to Globe subscribers. Mobile Voice Globe's voice services include local, national and international long-distance call services. It has one of the most extensive local calling options designed for multiple calling profiles. In addition to its standard, pay-per-use rates, subscribers can choose from various voice offerings for all-day, and in several denominations to suit different budgets. Globe keeps Filipinos connected wherever they may be in the world, through its tie-up with 616 roaming partners in 240 calling destinations worldwide. Globe also offers roaming coverage on-board selected shipping lines and airlines, via satellite. Globe also provides an extensive range of international call and text services to allow OFWs (Overseas Filipino Workers) to stay connected with their friends and families in the Philippines. This includes prepaid reloadable call cards and electronic PINs available in popular OFW destinations worldwide. Mobile SMS Globe's mobile SMS service includes local and international SMS offerings. Globe also offers various SMS packages to cater to the different needs and lifestyles of its postpaid and prepaid subscribers. Fixed Line and Home Broadband Business Globe offers a full range of fixed line communications services, wired and wireless Broadband access, and end-to-end connectivity solutions customized for consumers, SMEs (Small & Medium Enterprises), large corporations and businesses. Fixed Line Voice SEC Form 17Q – 3Q 2025 15 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Globe's fixed line voice services include local, national and international long-distance calling services in postpaid and prepaid packages through its Globelines brand. Subscribers get to enjoy toll-free rates for national long-distance calls with other Globelines subscribers nationwide. Low-MSF (monthly service fee) fixed line voice services bundled with internet plans are available nationwide and can be customized with value-added services including multi-calling, call waiting and forwarding, special numbers and voicemail. For corporate and enterprise customers, Globe offers voice solutions that include regular and premium conferencing, enhanced voice mail, IP-PBX solutions and domestic or international toll-free services. With the Company's cutting-edge Next Generation Network (NGN), Globe Business Voice solutions offer enterprises a bevy of fully-managed traditional and IP-based voice packages that can be customized to their needs. Corporate Data Corporate Data services include end-to-end data solutions customized according to the needs of businesses. Globe's product offerings include international and domestic leased line services, wholesale and corporate internet access, data center services and other connectivity solutions tailored to the needs of specific industries. Globe's international data services provide corporate and enterprise customers with the most diverse international connectivity solutions. Globe's extensive data network allows customers to manage their own virtual private networks, subscribe to wholesale internet access via managed international private leased lines, run various applications, and access other networks with integrated voice services over high-speed, redundant and reliable connections. In addition to bandwidth access from multiple international submarine cable operators, Globe also has four international cable landing stations situated in different locales to ensure redundancy and network resiliency. The Company's domestic data services include point-to-point and point-to-multipoint private connectivity as well as data center solutions such as business continuity and data recovery services, 24x7 monitoring and management, dedicated server hosting, maintenance for application-hosting, managed space and carrier-class facilities for co-location requirements and dedicated hardware from leading partner vendors for off-site deployment. Other Corporate Data services include premium-grade access solutions combining voice, Broadband and video offerings designed to address specific connectivity requirements. These include symmetric Broadband, dedicated Internet service, and Managed WiFi for in-room internet access for hotels. Globe Business knows that success is made up of different elements: effective products, streamlined processes, and reliable manpower, and that is why Globe's business solutions are a fusion of all three. Among the products and solutions are as follows: ● Mobility - mobility solutions that increase productivity within and beyond the workplace. The Group’s enterprise mobility solutions include: (1) Postpaid – leveraging on flexible postpaid plans that suit companies of every scale; (2) Enterprise Mobile Management – allows customers to gain more control over enterprise mobile devices while simultaneously maximizing workforce productivity; and (3) Satellite Phones. ● Voice - The Group’s wide range of cost-efficient voice solutions simplifies communications infrastructure and tailors services to fit business needs. Globe’s voice products for business include Globelines; Toll-Free Services; Enhanced Managed Voice Solution (EMVS); Managed IP-PBX; SIP Trunk; Hosted Contact Center Solutions; and Collaboration Solutions. ● Connectivity - Globe Business offers a fast and resilient connection powered by dedicated and reliable technologies (comprising Broadband, Direct Internet Access, Domestic Data, including ELine, ELAN, and MPLS; International Data; Internet Services; Managed Infrastructure Services including SDWAN and Managed WiFi). ● Cloud - Improve efficiency and agility in the face of evolving business environments while keeping costs low with Globe's range of cloud services: Infrastructure-as-a-Service (IaaS); Backup-as-a-Service (BaaS); Disaster-Recovery-as-a-Service (DRaaS); Amazon Web Services; AWS Direct Connect. SEC Form 17Q – 3Q 2025 16 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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● Data Center - Globe Data Center provides a superior experience that goes beyond technology. Allows customers to outsource data center hosting and management. The services offered include the following: o Co-location - managed space for customer's servers and IT equipment that run mission critical systems and applications; o Cross Connect - provides direct connection from customer racks to its service provider; o LAN-Based Internet - provides a redundant, stable, secure and high-speed connection to hosted environments within the Globe Data Center; o Media Storage - physical off-site data storage in a clean, controlled, safe and secure environment within the Data Center; and o Disaster Recovery ("DR") Seats - Provides a DR facility and workstations for customers in the event of a disaster or a business interruption. ● Cybersecurity - The Cyber Security Solutions portfolio is designed for end-to-end security orchestration, ensuring pervasive and cohesive coverage across the entire threat landscape and meeting the distinct needs of every segment, from SME-level velocity to Enterprise-grade depth. ● Business Applications - a diverse range of solutions to streamline and enhance business operations, and raise efficiency, productivity, and customer satisfaction (G Suite; Go Canvas, Office 365; Learning Management Solutions, HR Solutions, M2M). ● Business Continuity - Enable enterprises with the right digital solutions for uninterrupted business operations for their customers. Ensure seamless connectivity (reliable and redundant data solutions, Prepaid Mobile Wifi and Corporate Managed Broadband), Empower remote workforce (Amazon Chime, Amazon Workdocs, Office 365 and Zoom), and Safeguard business operations (Amazon WorkSpaces, Amazon Appstream 2.0, SASE, Cloud/Application/Endpoint Security). Home Broadband Globe offers wired and fixed wireless broadband services, across various technologies and connectivity speeds for its residential and enterprise customers. Globe AT HOME Broadband consists of wired postpaid and prepaid Fiber broadband packages, and wireless Home Prepaid WiFi, backed by Globe’s 4G and 5G network. Globe AT HOME GFiber Plans provides the best connectivity for your home with fast and unlimited plans which ensures smooth connection to productivity apps like teleconferencing, high definition streaming, and low latency gaming. GFiber plans range from ₱1499 per month for up to 300 Mbps to as high as 1.5 Gbps for ₱7,499 per month. All comes with a WiFi 6 modem that delivers faster speeds, greater capacity, and improved performance for multiple connected devices simultaneously. The GFiber Unli Plan also comes with access to relevant apps like Disney+, Blast TV, Home Squad, and devices that can provide Fiber-to-the-room connectivity depending on the plan you get. See also GFiber broadband-plans for more updated details. As part of the Company’s thrust to make fiber-speed internet accessible to all Filipinos, Globe launched the revolutionary offering GFiber Prepaid last July 2023. GFiber Prepaid is designed to reach the mass market segment which remains to be under-served. It aims to democratize access to fiber connectivity, offering a No Monthly Bills, Reloadable Unli Internet at up to 100Mbps speed. Customers can acquire a GFiber Prepaid service with a special offer of a one-time fee of ₱699, inclusive of modem, installation and seven days of unlimited internet. GCash’s G-Credit and G-Gives may be used to pay the one-time fee if the upfront cashout is an issue. Customers can also choose from a selection of unlimited data promos with the speed of their choice. 50Mbps offers include GFiberSurf249 for 7 days, GFiberSurf749 for 30 days, and GFiber SurfAnnual6999 for 365 days. Customers may also avail of promos with Disney+ access thru GFiberSurf999 for 30 days and GFiberSurf9999 for 1 year. 100Mbps speed offers are available for those with higher device use in the household. Moreover, GFiber Prepaid provides customers with a fully digital experience from application to scheduling of installation and account management. Customers can apply, register their accounts, load SEC Form 17Q – 3Q 2025 17 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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GFiberSurf promos, and manage their accounts by downloading the GlobeOne app. Also, as part of Globe’s commitment to sustainability and circularity, GFiber Prepaid comes in recyclable and upcyclable packaging, which can be repurposed and used as a laptop stand. Globe is enhancing its service delivery and offering innovative plans aiming to broaden its customer base and meet the evolving digital needs of Filipinos. ● GCash users can now subscribe to GFiber Prepaid promos and get reloadable UNLI Fiber internet. On the app, they can click load then broadband, and choose the GFiberSurf promo they need. Users can schedule automatic reloads to ensure they don’t lose internet service. ● Globe AT HOME is giving GFiber customers unlimited access to the world of entertainment via a free Blast TV subscription. This unlocks a vast selection of channels, movies, and series, ensuring that customers have access to top-notch digital content at their fingertips. ● Existing Globe mobile subscribers will get the best GFiber Prepaid offers which they can claim via rewards (discounts). For areas without fiber connectivity, Globe At Home Prepaid WiFi is a reliable prepaid internet option for the household, that is not just easy to install (plug and play) but also easy on the budget. Customers can load FamSurf promos that are suitable for their surfing requirements for as low as ₱199. FamSurf GB’s may be shared as mobile data to up to four mobile and other prepaid wifi devices so that family members can stay online even if they are not at home. This can easily be done via GlobeOne app. See also broadband/prepaid-wifi for the latest Home Prepaid WiFi offers; broadband/help/home-prepaid-wifi-set-up on how to get started with Home Prepaid Wifi. Last December 2024, Globe At Home unveiled its affordable 5G WiFi, delivering high-speed internet using wireless technology for those looking for fast, reliable and plug-and-play connectivity. Equipped with a best-in-class router featuring one-click support plus a money-back guarantee, this pioneering service ensures hassle-free internet access tailored to the evolving demands of modern users. The tech innovation is initially available in three prime condominium developments located in key business hubs Bonifacio Global City, Makati City, and Ortigas Center. Globe At Home 5G WiFi is offering up to 250GB of data for 30 days at just ₱899. In September 2025, Globe launched the Globe AT HOME 5G loop, the world’s first portable 5G-powered broadband loop, designed to deliver fiber-like internet through 5G technology. Portable and WiFi 6-enabled, the device features a built-in speaker, camera, and touchscreen, allowing users to stay connected at home, in cafés, or while traveling. It is perfectly built for shared WiFi experiences while offering the flexibility to enjoy reliable, high-speed connectivity anywhere—whether indoors or on the go. The Globe AT HOME 5G loop is tailor-made for modern Filipino families, offering seamless performance for streaming in ultra-clear resolution, creating content, and connecting through music, calls, and shared entertainment. Pre-orders began on September 1, 2025, at Globe stores in Megamall, Glorietta, and the Globe Iconic Store in BGC, priced at ₱10,999 with 30 days of unlimited data. The Globe AT HOME 5G loop marks a global milestone in redefining shared digital experiences, bringing families a simple, portable, and powerful way to stay connected wherever they are. NON-TELCO PRODUCTS AND SERVICES Globe is steadfast in solidifying its standing as a leading innovator in the country. Leveraging its core telco business and driven by the surge in consumer digital adoption, the company now offers a diverse portfolio of promising high-growth enterprises spanning sectors such as fintech, healthtech, adtech, e-commerce, and climatech, among others. 917Ventures 917Ventures, Globe's corporate venture builder, specializes in identifying, launching, accelerating, and expanding promising business concepts. Operating as a startup incubator, 917Ventures provides teams, frameworks, infrastructure, and strategies that have been validated, tested, and backed by SEC Form 17Q – 3Q 2025 18 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Globe, Ayala, and other partners to expedite the growth of new ventures. Here's an overview of the companies that make up its portfolio: ● GCash Globe Fintech Innovations, Inc. ("Mynt") is a strategic partnership between Globe, Ayala Corporation, and Ant International, a Singapore-headquartered leading global digital payment, digitization, and financial technology provider. Mynt is a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt primarily operates through two wholly-owned subsidiaries: G-Xchange, Inc. ("GXI"), the mobile wallet operator of GCash, offering convenient financial services to Filipinos, and Fuse Financing Inc. ("Fuse"), a technology-based lending company, which empowers Filipinos with access to microloans and business loans. Based on third-party provider data.ai, as of September 30, 2025, GCash remains as the number one finance super-app in the country, bannered by ubiquity across its active user base. Under its Payments offerings, customers can easily send and receive money anywhere in the Philippines, even to other bank accounts, purchase prepaid airtime load, pay bills nationwide, and purchase from their partner merchants and social sellers. In addition, Mynt has gone beyond the nation’s borders. As of September 30, 2025, it now offers payments in over 200 countries and territories with the GCash Visa Card and Global Pay, in partnership with Alipay+, to enable a seamless and secure payment experience across millions of merchants abroad through Scan to Pay. As of September 30, 2025, Mynt also empowers overseas Filipinos in 145 countries to manage their finances through GCash Overseas. They can now use the GCash app with their international mobile numbers, giving them access to services such as Send Money, Pay Bills, and Buy Load. Beyond Payments, the GCash application also features a range of Digital Financial Services through its CreditTech and WealthTech products. On CreditTech, backed by a proprietary trust platform and credit scoring via GScore, Fuse has provided credit access to millions of borrowers, of which the majority are from lower socio-economic classes as of September 30, 2025. These milestones were achieved through innovative lending products covering credit lines (GCredit), cash loans (GLoan), buy-now-pay-later (via GGives), and micro-credit starter loans (Sakto Loan and Borrow Load), providing loans to more Filipinos who need it the most. The GCash application also provides a comprehensive suite of WealthTech services, covering savings (via GSave), investments (via GFunds, GStocks, GCrypto, and the newly launched GBonds), and insurance products (via GInsure). Moving beyond transactions, GCash incorporates sustainability across its innovation initiatives. The GForest movement empowers users to accumulate green energy and plant trees by simply using GCash. As of September 30, 2025, more than 4.2 million trees have been planted, enabling GCash users to build a greener tomorrow. ● Brave Connective Holdings, Inc. (BCHI) Brave Connective Holdings, Inc. links together under its umbrella, the companies that bring brands closer to their customers through the use of data, storytelling, and messaging. BCHI provides omnitech solutions through AI-driven insights, innovative programmatic tools, and multi-channel communication. o AdSpark, is an award-winning and leading digital advertising agency that combines data-driven insights through its proprietary DeepSea platform with the creative ingenuity of SecretMenu. By blending advanced analytics and innovative storytelling, AdSpark delivers impactful campaigns that connect brands with their audiences and drive measurable results. SEC Form 17Q – 3Q 2025 19 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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o Inquiro - is a cutting-edge data analytics company that transforms insights into actionable intelligence for businesses. With innovative solutions and a commitment to empowering smarter decisions, Inquiro helps brands unlock growth and drive success. Inquiro’s revenue has grown 12x in the last 4 years, with a client base growing more than 30% year on year. o M360, is a leading, multi-awarded communications platform delivering innovative solutions that help businesses connect with customers effectively across multiple messaging channels. Through its advanced One API, it empowers enterprises with scalable, secure, and intelligent messaging capabilities, connecting to over 700 mobile operator partners worldwide, reaching more than 142 million subscribers across the Philippines, and serving over 70 million OTT users, solidifying its position as a trusted leader in customer communications and digital engagement. SEC Form 17Q – 3Q 2025 20 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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KEY PERFORMANCE INDICATORS Globe is committed to efficiently managing the Company’s resources and enhancing shareholder value. The Company regularly reviews its performance against its operating and financial plans and strategies, and uses key performance indicators to monitor its progress. Some of its key performance indicators are set out below. Except for Net Income, these key performance indicators are not measurements in accordance with Philippine Financial Reporting Standards (PFRS) and should not be considered as an alternative to net income or any other measure of performance which are in accordance with PFRS. AVERAGE REVENUE PER UNIT (ARPU) ARPU measures the average monthly gross revenue generated for each subscriber. This is computed by dividing recurring gross service revenues (gross of interconnect charges) for a business segment for the period by the average number of the segment’s subscribers and then dividing the quotient by the number of months in the period. AVERAGE MONTHLY CHURN RATE The average monthly churn rate is computed by dividing total disconnections (net of reconnections) for the segment by the average number of the segment’s subscribers, and then dividing by the number of months in the period. This is a measure of the average number of customers who leave, switch, or change to another type of service or to another service provider and is usually stated as a percentage. EBITDA EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) is calculated as service revenues less subsidy, operating expenses and other income and expenses. This measure provides useful information regarding a company’s ability to generate cash flows, incur and service debt, finance capital expenditures and working capital changes. As the Company’s method of calculating EBITDA may differ from other companies, it may not be comparable to similarly titled measures presented by other companies. EBITDA MARGIN EBITDA margin is calculated as EBITDA divided by total service revenues. Total service revenue is equal to total gross operating revenue less non-service revenue. This is useful in measuring the extent to which subsidies and operating expenses (excluding property and equipment-related gains and losses and financing costs), use up revenue. SEC Form 17Q – 3Q 2025 21 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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EBIT and EBIT MARGIN EBIT is defined as earnings before interest, property and equipment-related gains and losses and income taxes. This measure is calculated by deducting depreciation and amortization from EBITDA. Globe’s method of calculating EBIT may differ from other companies and, hence, may not be comparable to similar measures presented by other companies. EBIT margin is calculated as EBIT divided by total service revenues. NET INCOME As presented in the unaudited condensed consolidated financial statements for applicable periods, net income provides an indication of how well the Company performed after all costs of the business have been factored in. CORE NET INCOME Core net income is defined as net income after tax (NIAT) but excluding foreign exchange and mark-to-market gains (losses), and non-recurring items. SEC Form 17Q – 3Q 2025 22 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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FINANCIAL AND OPERATIONAL RESULTS GROUP FINANCIAL SUMMARY Results of Operations (Php Mn) Quarter on Quarter Year-on-Year Q3 Q2 QoQ 30-Sep 30-Sep YoY 2025 2025 Change 2025 2024 Change (%) (%) Operating Revenues 44,365 43,471 2% 131,590 134,744 -2% Service Revenues 41,488 40,335 3% 121,676 124,009 -2% Mobile* 29,100 28,779 1% 86,173 87,706 -2% Home Broadband** 6,132 5,895 4% 17,840 17,887 - Corporate Data 5,368 4,769 13% 14,995 15,480 -3% Fixed line Voice 317 306 4% 943 1,130 -17% Others*** 571 586 -3% 1,725 1,806 -4% Non-Service Revenues 2,877 3,136 -8% 9,914 10,735 -8% Costs and Expenses 22,319 22,093 1% 67,405 69,879 -4% Cost of Sales 2,973 3,197 -7% 10,092 11,509 -12% Operating Expenses 19,346 18,896 2% 57,313 58,370 -2% EBITDA 22,046 21,378 3% 64,185 64,865 -1% EBITDA Margin 53.1% 53.0% 52.8% 52.3% Depreciation 13,552 12,989 4% 39,982 37,301 7% EBIT 8,494 8,389 1% 24,204 27,563 -12% EBIT Margin 20.5% 20.8% 19.9% 22.2% Non-Operating Income (Charges) (2,064) (1,916) 8% (3,044) (2,165) 41% Net Income After Tax (NIAT) 5,254 5,462 -4% 17,691 20,556 -14% Core Net Income 5,022 5,895 -15% 15,453 17,614 -12% Normalized Net Income After Tax 5,194 5,462 -5% 15,229 17,835 -15% * Mobile business includes Mobile and fully Mobile Broadband **Home Broadband includes fixed wireless and wired Broadband ***Others includes non-telco revenues from subsidiaries ● Globe delivered ₱121.7 billion in consolidated gross service revenues for the first nine months of 2025, slightly lower than the ₱124.0 billion reported in the same period last year. While inflation has eased and household spending capacity has generally improved, the operating environment remains challenging. Persistent industry competition and the localized economic impact of the typhoons that struck during the period added further pressure. Against this backdrop, Globe sustained the rebound that began in the second quarter, posting ₱41.5 billion in consolidated gross service revenues in the third quarter, a 3% sequential increase underscoring operational resilience and improved market momentum. The revenue uptrend continues, posting the fastest sequential growth in 13 quarters. Globe’s expanding digital portfolio drove growth, demonstrating its vital role in an increasingly connected economy. Mobile and corporate data services accounted for 83% of total consolidated service revenues in the first nine months of 2025. Meanwhile, data-centric products spanning mobile internet, home broadband, and enterprise solutions, rose to 88% of total consolidated service revenues from 86% a year ago. ○ Globe’s mobile business remained the main driver of topline performance, generating ₱86.2 billion in service revenues as of end-September 2025, down 2% from the ₱87.7 billion posted a year earlier. Mobile service revenues in the third quarter reached ₱29.1 billion, up 1% quarter-on-quarter from ₱28.8 billion in Q2, marking a second consecutive quarter of sequential improvement. This robust trajectory reflects stronger consumer activity and SEC Form 17Q – 3Q 2025 23 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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demand for mobile services. Performance was further supported by Globe’s consistent investments in its network, which enhanced service quality and reinforced its market position. By end-September 2025, Globe’s mobile subscriber base stood at 63.1 million, 5% higher than the 60.2 million a year ago. ○ Globe’s home broadband business generated ₱17.8 billion in revenues for the nine months ending September 2025, holding steady versus the same period last year. The muted year-on-year growth reflects lower contributions from the fixed wireless segment, which were largely offset by continued migration to fiber. Compared to the previous quarter, Home Broadband revenues increased by 4% to ₱6.1 billion, indicating stabilization as fiber adoption continued to expand across the subscriber base. ○ Corporate data revenues reached ₱15.0 billion for the nine-month period ended September 2025, down 3% year-on-year due to softer core data demand, partly offset by growth in ICT services. On a sequential basis, third quarter revenues rose 13% to ₱5.4 billion, reflecting renewed enterprise demand for digital solutions. ○ Fixed line voice revenues declined by 17% year-on-year but rose 4% quarter-on-quarter, reflecting the continued structural shift away from legacy voice services toward digital and data-driven communication platforms. ○ Globe's non-telco revenues totaled ₱1.7 billion for the nine-month period ended September 2025, down 4% year-on-year, as lower contributions from AdSpark were partially offset by improved performance from Yondu and Asticom. On a sequential basis, third quarter non-telco revenues declined by 3%, mainly due to a dip in Yondu’s revenue contribution. ● Globe’s cost management initiatives delivered meaningful efficiencies, with total operating expenses and subsidy amounting to ₱57.5 billion for the first three quarters of 2025, down 3% year-on-year. The decline was led by a 29% reduction in marketing and subsidy expenses, a 7% decrease in staff costs, and a 4% drop in services and others. Utilities and administrative expenses remained broadly flat, rising just 1%. These efficiencies helped offset increases in interconnect costs (+16%), leases (+8%), and provisions (+6%). However, on a sequential basis, operating expenses and subsidy rose 3% to ₱19.4 billion in the third quarter, mainly on higher spending across most expense categories except for leases, repairs and maintenance, and provisions. ● Total depreciation expenses reached ₱40.0 billion as of end-September 2025, up 7% year-on-year and 4% quarter-on-quarter, driven by Globe’s continued capital investments. ● Total operating costs and expenses, including subsidy and depreciation, amounted to ₱97.5 billion as of end-September 2025, up 1% year-on-year from ₱96.4 billion. On a sequential basis, costs rose 3% to ₱33.0 billion in the third quarter from ₱32.0 billion. ● EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) over the same period reached ₱64.2 billion, a 1% decrease from the prior year. Even with this marginal dip, Globe posted a healthy EBITDA margin of 52.8%, exceeding its full-year guidance through prudent cost management. On a sequential basis, consolidated EBITDA rose 3% from ₱21.4 billion in the second quarter, driven primarily by stronger topline performance. ● Mynt, the parent company of GCash, delivered another strong performance in the first nine months of 2025, reinforcing its standing as the Philippines’ leading digital financial ecosystem. GCash continued to scale its user base and profitability, extending inclusive financial services to millions of Filipinos through constant innovation. For the nine-month period ended September 2025, Globe’s equity share in Mynt rose to ₱5.3 billion, a 52% increase from ₱3.5 billion in the same period last year. This contribution now accounts for 25% of Globe’s net income before tax, marking a sharp rise from its 14% share in 2024. Mynt’s growth complements Globe’s sustained investments in digital infrastructure and connectivity. ● For the nine months ended September 2025, Globe recorded a net income of ₱17.7 billion, down 14% from ₱20.6 billion in the same period last year. This figure includes non-recurring items, SEC Form 17Q – 3Q 2025 24 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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such as gains from the deemed disposal of Mynt shares (related to MUFG’s equity investment in the first quarter) and higher equity earnings from affiliates. These helped partly offset increased depreciation, interest expense, and other non-operating charges. On a quarterly basis, net income declined by 4% to ₱5.3 billion, from ₱5.5 billion in the previous quarter as the increase in the topline was offset by higher depreciation and non-operating charges. Excluding one-off items, normalized net income reached ₱15.2 billion, down 15% year-on-year and 5% quarter-on-quarter. ● Core net income, which strips out non-recurring items including gains from asset disposals, forex movements, and mark-to-market adjustments, amounted to ₱15.5 billion, compared to ₱17.6 billion in the same period last year. On a sequential basis, core earnings declined to ₱5.0 billion in the third quarter of 2025 from ₱5.9 billion in the second quarter, primarily due to higher financing costs and lower equity contributions from affiliates. ● In the first nine months of 2025, Globe invested approximately ₱31.4 billion in capital expenditures (capex), a 23% decrease from ₱41.0 billion in the same period last year. This reduction reflects the company’s sharper focus on strategic capital management while continuing to channel resources toward essential network improvements, in line with its full-year capex guidance of below US$1 billion. Notably, this level of spending is equivalent to 26% of the topline, further strengthening Globe’s positive free cash flow position and underscoring the company’s disciplined approach to capital efficiency. Globe remains steadfast in its goal of fortifying its financial position by further enhancing free cash flow generation. Consequently, the cash capex-to-revenue ratio improved to 26% from 33%, while the capex-to-EBITDA ratio narrowed to 49% from 63%. These results demonstrate Globe’s increased investment flexibility, paving the way for targeted network initiatives over the rest of the year. As in prior periods, about 89% of capex was directed toward data-related projects, reaffirming Globe’s commitment to advancing digital capacity and expanding connectivity nationwide. By pursuing focused investments and innovation shaped around customer demand, Globe continues to empower more Filipinos to thrive in a digitally connected economy. GROUP OPERATING REVENUES Operating Revenues Quarter on Quarter Year-on-Year Q3 Q2 QoQ 30-Sep 30-Sep YoY 2025 2025 Change 2025 2024 Change By Business (Php Mn) (%) (%) Mobile* 31,944 31,886 - 95,992 98,163 -2% Service Revenues 29,100 28,779 1% 86,173 87,706 -2% Non-Service Revenues 2,844 3,107 -8% 9,819 10,457 -6% Fixed Line and Home Broadband** 11,829 10,977 8% 33,806 34,693 -3% Service Revenues 11,817 10,970 8% 33,778 34,497 -2% Non-Service Revenues 12 7 71% 28 196 -86% Others*** 592 608 -3% 1,792 1,888 -5% Service Revenues 571 586 -3% 1,725 1,806 -4% Non-Service Revenues 21 22 -5% 67 82 -18% Total Operating Revenues 44,365 43,471 2% 131,590 134,744 -2% * Mobile business includes Mobile and fully Mobile Broadband. **Home Broadband includes fixed wireless and wired Broadband; Fixed line includes corporate data and fixed line voice. SEC Form 17Q – 3Q 2025 25 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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***Others includes non-telco revenues from subsidiaries. Globe closed the first nine months of 2025 with total operating revenues of ₱131.6 billion, down 2% from ₱134.7 billion in the same period last year. Mobile service revenues reached ₱86.2 billion as of end-September 2025, accounting for 71% of Globe’s consolidated service revenues. This was down 2% year-on-year as growth in data (+2%) was offset by declines in voice (‑14%) and SMS (‑25%). On a sequential basis, revenues rose 1% to ₱29.1 billion. Fixed Line and Home Broadband, which accounted for 28% of consolidated service revenues, posted ₱33.8 billion as of end-September 2025, down 2% year-on-year from ₱34.5 billion. On a sequential basis, the segment grew 8% to ₱11.8 billion in the third quarter, driven by stronger contributions from home broadband, corporate data, and fixed line voice. Other service revenues contributed ₱1.7 billion, down 4% year-on-year and 3% lower quarter-on-quarter. Non-service revenues across all segments declined on a yearly basis. Mobile non-service revenues fell 6% year-on-year and 8% quarter-on-quarter. Fixed Line and Home Broadband non-service revenues dropped 86% year-on-year but showed a 71% increase quarter-on-quarter. Non-service revenues from non-telco services declined 18% year-on-year and 5% quarter-on-quarter. MOBILE BUSINESS Mobile Service Revenue Quarter on Quarter Year-on-Year Q3 Q2 QoQ 30-Sep 30-Sep YoY 2025 2025 Change 2025 2024 Change (Php Mn) (%) (%) Service Mobile Voice ¹ 2,748 2,759 - 8,283 9,642 -14% Mobile SMS ² 1,186 1,313 -10% 3,893 5,205 -25% Mobile Data ³ 25,166 24,707 2% 73,997 72,859 2% Mobile Service Revenues 29,100 28,779 1% 86,173 87,706 -2% 1 Mobile Voice service revenues include the following: a) Prorated monthly service fees on consumable minutes of postpaid plans; b) Subscription fees on unlimited and bucket voice promotions including the expiration of the unused value of denomination loaded; c) Charges for intra-network and outbound calls in excess of the consumable minutes for various Globe Postpaid plans, including currency exchange rate adjustments, or CERA, net of loyalty discounts credited to subscriber billings; and d) Airtime fees for intra network and outbound calls recognized upon the earlier of actual usage of the airtime value or expiration of the unused value of the prepaid reload denomination (for Globe Prepaid and TM) net of (i) bonus credits and (ii) prepaid reload discounts; and revenues generated from inbound international and national long distance calls and international roaming calls; and e) Mobile voice service revenues of GTI and MVNO. 2 Mobile SMS net service revenues consist of revenues from value-added services such as inbound and outbound SMS and MMS, and infotext, subscription fees on unlimited and bucket prepaid SMS services net of any interconnection or settlement payouts to international and local carriers and content providers. 3 Mobile Data service revenues consist of revenues from mobile internet browsing and content downloading, mobile commerce services, other add-on value added services (VAS), and service revenues of GXI and SEC Form 17Q – 3Q 2025 26 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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MVNO, net of any interconnection or settlement payouts to international and local carriers and content providers, except where Globe is acting as principal to the contract where revenues are presented at gross billed to subscriber and settlement pay-out are classified as part of costs and expenses. Revenues from premium content services (where Globe is acting as principal to the contract) is reported gross of licensors' fees. Globe continues to strengthen its leadership in the Philippine mobile industry by delivering cutting-edge digital solutions that empower and enrich the lives of Filipinos. Through an expanding ecosystem of content, connectivity, and convenience, Globe has redefined what it means to be a digital lifestyle enabler. The company’s mobile strategy is anchored on personalization and partnership, providing customers with greater control, flexibility, and access to digital experiences tailored to their evolving needs. Leveraging collaborations with leading global and regional digital partners, Globe offers an integrated suite of services spanning entertainment, productivity, e-commerce, and travel, seamlessly accessible through its digital platforms. The GlobeOne app serves as a unified digital tool that allows customers to conveniently manage their Globe Postpaid, Prepaid/TM, Home Prepaid WiFi, and Rewards accounts in one place. Through the app, users can monitor usage, redeem rewards, pay bills, and access exclusive offers with ease, reflecting Globe’s commitment to simplify the customer experience and put control directly in their hands. The GlobeOne app, available on both iOS and Android devices, continues to evolve as the central hub for Globe’s growing suite of digital lifestyle and connectivity services. Mobile Data Mobile Browsing, Internet-on-the-Go and Other Data Mobile data revenues climbed to an all-time high of ₱25.2 billion in the third quarter of 2025, bringing total mobile data revenues to a record ₱74.0 billion for the first nine months of the year. This represents a 2% increase year-on-year from the previous record of ₱72.9 billion reported in the same period of 2024, as Filipinos continued to expand their use of apps for messaging, entertainment, and cashless transactions. This was achieved even as total mobile data traffic held steady at 4,846 petabytes versus 4,843 petabytes in the same period last year, reinforcing Globe’s ability to drive higher value per gigabyte of data consumed. Following a muted first quarter in terms of traffic, usage showed an upward trend, rising by 8% from 1,537 petabytes in the first quarter to 1,659 petabytes by the third quarter. The average volume of use per subscriber remained stable at around 15 GB per month, supported by consistent engagement and rising 5G traffic and its growing adoption across Globe’s customer base. As of end-September 2025, Globe had 37.8 million mobile data users, up 2% year-on-year, highlighting the segment’s strength and resilience as consumer activity improved alongside easing inflation. Mobile data now accounts for 86% of total mobile service revenues, up from 83% a year earlier, showcasing Globe’s expanding digital scale and effective monetization as connectivity becomes even more essential to everyday life. Globe Prepaid customers can choose from Globe promos that fit their needs and lifestyle for as low as ₱59 with 5GB for all sites and unli allnet texts, valid for 3 days. In addition, Globe continues to give its customers more options to level up their connection with Go+ promos for as low as ₱99 valid for 7 days up to ₱400 valid for 15 days. Customers can have more GBs to use to address everything they need with data for all sites, data for apps of choice, unli allnet texts, and a free discount voucher from their favorite everyday apps. See also prepaid/go-promos/plus for more details. App-Exclusive promos are likewise available on GlobeOne which include the following: Available on GlobeOne only: ● UnliGo149 - 5GB for all sites, unli data for choice of apps, valid for 7 days ● UnliGo299 - 10GB for all sites, unli data for choice of apps, valid for 15 days SEC Form 17Q – 3Q 2025 27 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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See https://www.globe.com.ph/prepaid/app-exclusive-promos for more information. Meanwhile, Globe “Surf4All” is the Philippines’ first-ever data-sharing promo. This offers users a high data allowance that’s usable on all sites and can be shared with up to four (4) users for one week. Customers get to enjoy up to 20GB of shareable data at an affordable ₱249. This Globe data promo allows its customers to share data with Prepaid, Postpaid, Platinum, Globe AT HOME Prepaid WiFi, MyFi and TM users. See also Surf4all for more details. Prepaid customers may also choose to subscribe to “GoUnli” offers to get unlimited calls and texts with data for all sites for as low as ₱20 per day (see prepaid/gounli for more details). Globe’s value brand, TM, continues to offer value-for-money promos that allow customers on a budget to stay connected. Globe’s EasySURF50 5G has been refreshed to offer 4GB data + 2GB 5G data + 3GB (1GB/day) access to apps, along with unlimited texts to all networks, for as low as ₱50 for 7 days. In addition, other EasySURF promos also provide more data plus unlimited calls for as low as ₱75 up to ₱140. In line with the evolving telco needs of the mass market, Globe’s PawerSURF, launched in April 2025, offers an all-in, low-cashout option , starting at ₱20: ● PawerSURF20 - 1GB data + 250 mins calls & 250 texts to all networks, ₱20 valid for 1 day. Available in all channels; ● PawerSURF30 - 1GB data + 1GB apps + UNLI calls & texts to all networks, ₱30 valid for 2 days. Available in all channels; For customers looking for more data, new ALLSURF promos are now also available, ranging from ₱99-149. These promos contain bigger open-access data, plus 1GB/day apps: ● ALLSURF99 - 9GB data + 7GB (1GB/day) Apps + unli texts to all networks, ₱99 for 7 days ● ALLSURF110 - 10GB data + 7GB (1GB/day) Apps + unli texts to all networks, ₱110 for 7 days ● ALLSURF149 - 12GB data + 7GB (1GB/day) Apps + unli calls & texts to all networks, ₱149 for 7 days See https://www.tmtambayan.ph/ for more details on TM’s latest offers. Likewise, the Company continued to offer Roam Surf Data and App packs to its prepaid and postpaid customers. Prepaid subscribers can choose from all-access data roaming packs for as low as ₱399 or their favorite app (Facebook) for as low as ₱100. This offer allows prepaid customers to access the internet abroad, making their data connectivity experience more seamless and worry-free. Meanwhile, Globe Postpaid customers can enjoy instant connectivity without needing to register for a promo. Once abroad, they can simply turn on their mobile data and data roaming to activate all-day data roaming with Roam Surf 399 in 100+ destinations, for only ₱399 valid for 24 hours. Globe also introduced the discounted data roaming called Roam Surf global packs. Subscribers can enjoy more gigabytes for more days while spending less - choose from 3, 5, 10, 15 or 30-day offers which come with 3GB up to 15GB data, and get up to 50% off (vs. the daily Roam Surf rate). Once subscribed to a promo, Postpaid subscribers simply need to turn on mobile data and data roaming in their settings upon arrival abroad to start surfing. For Prepaid subscribers, get your favorite data roaming promo via the GlobeOne app, GCash, or dial *143# and select MyAccount > Roaming & Intl. The Company's latest innovation Globe Roam Surf4All brings ease and affordability to every trip, catering to the needs of budget-conscious families and travel groups. Roam Surf4All is available in over 100 countries and offers an unmatched level of convenience by allowing shared connectivity among multiple users. Customers only need to register to one Roam Surf4All promo and add/manage additional members via the GlobeOne app for the group to enjoy data roaming without having to stick together or be in close proximity. Currently available are three tailor-made packages, each designed to suit various travel durations and data needs: Roam Surf4All 1999 with 10 GB for 5 days (₱80 per SEC Form 17Q – 3Q 2025 28 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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person per day); Roam Surf4All 2999 with 15 GB for 15 days (₱40 per person per day) and Roam Surf4All 5299 with 20 GB for 30 days. Globe Prepaid customers can also register to Roam Surf4All via GCash app. Aside from these, Globe infuses convenience and affordability into wanderlust-driven adventures. The expanded GoRoam promos provide travelers with the convenience of a roaming service plus affordable options comparable to local rates in those countries. Globe’s GoRoam is now available in 21 destinations, with country-exclusive packages rivaling local SIM connectivity prices. This allows customers to use their mobile devices abroad with the same comfort and cost-efficiency they enjoy in their country of destination (https://www.globe.com.ph/international/roaming). GoRoam promos are available via the GlobeOne app and GCash (for Globe Prepaid/TM). To register, access the app, click Buy Promos and search for GoRoam to see the available offers. Once registered, simply turn on your mobile data and data roaming to activate and start enjoying the promo abroad. You can easily manage and track your data usage on the app’s dashboard. To strengthen roaming’s proposition, Globe has launched the advance booking capability via GlobeOne where customers can pre-book their data roaming packs up to 1 year in advance. Globe Prepaid customers will be charged upon booking, while Postpaid customers will be charged upon activation on the set travel period. If trip plans change, Prepaid customers will get refunded, while Postpaid customers will have their booked promo be cancelled for free. In addition to 5G Roaming, Globe Postpaid and Prepaid subscribers can now experience VoLTE roaming in Asia, US, Europe and the Middle East. This innovative solution ensures that Globe customers can enjoy uninterrupted high-quality voice calls and text messaging even as foreign networks phase out their legacy 2G and 3G infrastructure. VoLTE allows users to leverage LTE networks for high-definition voice calls, texts, and simultaneous mobile data usage without relying on older technologies. It provides uninterrupted connectivity, faster call setup, and the ability to use voice and data concurrently - all at no extra cost beyond regular roaming rates. Mobile Voice Mobile voice revenues, which accounted for 10% of total mobile service revenues, declined by 14% year-on-year to ₱8.3 billion as of end-September 2025. On a quarter-on-quarter basis, mobile voice was relatively flat at ₱2.7 billion. The decline underscores the structural shift away from traditional voice services, with consumers increasingly turning to over-the-top (OTT) communication platforms. The Company continues to provide attractive and affordable bulk voice offers. Globe Prepaid customers can register to GoUNLI promos to enjoy unlimited calls and texts to all networks, and all-access data for as low as ₱20. For worry-free connection for an entire month, customers can opt for GoUNLI350 (see https://www.globe.com.ph/prepaid/gounli for more information). Meanwhile, TM subscribers may choose from various combo offers for as low as ₱10 for call and text promos (visit https://www.tmtambayan.ph/promos/ca10 for more information). Through the Extend all-you-can promo, TM subscribers can extend for another 24 hours their favorite TM promo for only ₱5 up to 365 times by simply texting “EXTEND” to 8888 before their current promo expires. Filipinos who wish to stay connected with their loved ones abroad, Globe continues to offer its per-second charging for international voice calls for both Globe Postpaid and Globe Prepaid subscribers. Globe customers can enjoy affordable IDD rates, share cherished moments with as low as ₱5 per minute to the Middle East and Europe, and ₱2.50 per minute to North America and Asia. Visit https://www.globe.com.ph/international/call-and-text-abroad for more information. SEC Form 17Q – 3Q 2025 29 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Roam Unli Call & Text is likewise available for Globe Postpaid customers for them to enjoy all-day calls and texts while roaming visit https://www.globe.com.ph/international/roaming for more details). Mobile SMS As of end-September 2025, mobile SMS revenues continued their downward trajectory, totaling ₱3.9 billion, a 25% decline year-on-year. In addition, a 10% sequential decline was recorded, with the third quarter revenues falling to ₱1.2 billion. This decrease aligns with global industry trends, as more consumers adopt OTT communication platforms in place of traditional SMS. Globe continues to showcase a comprehensive line up of mobile SMS value offers ranging from unlimited and bucket text services. Visit the https://www.globe.com.ph/prepaid/promos for more information on the latest prepaid promos. With TM’s continued dedication of giving its subscribers wonderful and value-for-money offers, TM customers can get to choose from a wide array of promo offers ranging from bucket or unlimited SMS. All-NetSurf10 for 100 mins + 100 SMS to all networks + 100MB FB/ML, ₱10 valid for 1 day, exclusively available in GlobeOne & GCash; All-NetSurf20 for Unlimited calls & texts to all networks + 300MB open-access + 300MB (150MB/Day) FunAliw apps, ₱20 valid for 2 days and All-NetSurf30 for Unlimited calls & texts to all networks + 750MB open-access + 300MB (450MB/Day) FunALIW apps, ₱30 valid for 3 days. Meanwhile, for Filipinos who wish to send messages to their family and friends in the USA Mainland, Canada, Kuwait, Guam, Greece, and Mexico, they can subscribe to Unli iTXT 20 for only₱20 a day. To register, text UNLI ITXT 20 to 8080 or dial *143# and select Roaming & Int'l > Call and Text Abroad. Visit https://www.globe.com.ph/international/call-and-text-abroad for more information. VoLTE and VoWiFi VoLTE (Voice over LTE) is a technology that enables voice calls to be made over the LTE network instead of traditional 2G or 3G networks. VoWiFi (Voice over WiFi), also known as Wi-Fi Calling, is a complementary technology to VoLTE that allows voice calls to be made over a Wi-Fi network. Both VoLTE and VoWiFi can be utilized even if the recipient's device is not VoLTE-capable. When a call is made between two VoLTE/VoWiFi devices, a long-beep ringtone is heard, similar to international direct dialing (IDD) calls. However, if a call is made between a VoLTE or VoWiFi device and a 3G/2G device, the normal ringtone will be used. Globe has implemented VoLTE services for its postpaid customers, aiming to enhance their mobile experience. VoLTE has been fully activated in all cities within Metro Manila and neighboring provinces, expanding accessibility for postpaid customers. This development improves the quality and reliability of voice calls. Postpaid customers are encouraged to verify whether their mobile phone supports VoLTE, explore new VoLTE-ready locations, and gather additional information about VoLTE through these Online FAQs. Globe is progressively implementing VoLTE and VoWiFi services, which are currently accessible in select locations starting from December 18, 2020. Eligible prepaid customers can also access VoLTE services as of November 7, 2022. SEC Form 17Q – 3Q 2025 30 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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To achieve VoLTE Roaming capabilities, Globe's technical team successfully conducted VoLTE Outbound Roaming and VoLTE Inbound Roaming calls with Airtel. This demonstrates the readiness of Globe's network to support both outbound and inbound VoLTE Roaming services. While VoLTE roaming is still under development, Globe customers in countries without 2G or 3G access can opt for data roaming offers. These offers allow customers to make and receive calls and messages through Over-the-top (OTT) apps such as Viber, WhatsApp, and Messenger. Customers can conveniently register and track their data usage through the GlobeOne app. See also https://www.globe.com.ph/volte.html. Key Mobile Drivers Quarter on Quarter Year-on-Year Q3 Q2 QoQ 30-Sep 30-Sep YoY 2025 2025 Change 2025 2024 Change (%) (%) Cumulative Subscribers (or SIMs) - Net 63,147,990 62,495,185 1% 63,147,990 60,166,779 5% Globe Postpaid 2,416,067 2,397,759 1% 2,416,067 2,452,186 -1% Prepaid 60,731,923 60,097,426 1% 60,731,923 57,714,593 5% Globe Prepaid¹ 33,295,741 33,126,680 1% 33,295,741 31,640,837 5% TM 27,436,182 26,970,746 2% 27,436,182 26,073,756 5% Net Subscriber (or SIM) Additions 652,805 902,668 -28% 2,241,494 3,119,542 -28% Globe Postpaid 18,308 (6,667) 375% (13,749) (93,276) 85% - - Prepaid 634,497 909,335 -30% 2,255,243 3,212,818 -30% Globe Prepaid¹ 169,061 524,899 -68% 1,216,814 1,756,537 -31% TM 465,436 384,436 21% 1,038,429 1,456,281 -29% Average Revenue Per Subscriber (ARPU) Globe Postpaid 908 907 - 903 901 - Prepaid Globe Prepaid¹ 138 136 2% 137 150 -8% TM 107 110 -2% 108 114 -5% Average Monthly Churn Rate (%) Globe Postpaid 1.3% 1.2% 1.3% 1.6% Prepaid Globe Prepaid¹ 2.1% 1.6% 1.8% 1.9% TM 2.1% 2.2% 2.2% 2.2% 1Globe Prepaid include GOMO subscribers 2ARPU is computed by dividing segment’s recurring gross service revenues (gross of interconnect expenses) by the average number of the segment’s subscribers and then dividing the quotient by the number of months in the period. SEC Form 17Q – 3Q 2025 31 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Globe closed the first nine months of 2025 with a total mobile subscriber base of 63.1 million, up 5% from 60.2 million in the same period last year. This growth was underpinned by stable customer retention, with the overall monthly churn rate improving slightly to 1.9% from 2.0% a year ago. Total gross subscriber acquisitions stood at 13.0 million, 5% lower year-on-year, with prepaid brands (Globe Prepaid, including GOMO and TM) making up 98% of new SIMs during the period. Globe recorded 2.2 million net subscriber additions as of end-September 2025, compared to 3.1 million in the same period last year. Net additions in the third quarter totaled 652,805, 28% below the previous quarter’s level. The succeeding sections cover the key segments and brands of the Mobile business – Globe Postpaid, Globe Prepaid and TM including fully-mobile broadband subscribers. Globe Postpaid As of the end of September 2025, Globe Postpaid posted a cumulative subscriber base of 2.4 million, representing a 1% decrease compared to the previous year. Gross acquisitions slipped by 4% year-on-year, with 262,957 new subscribers recorded in the first nine months of 2025 versus 273,750 in the same period last year. The softer acquisition trend, despite improved churn, resulted in a net reduction of 13,749 postpaid subscribers, still a substantial recovery from the 93,276 net decline recorded in the same period of 2024. On a quarterly basis, Globe added 112,215 new postpaid subscribers in the third quarter of 2025, up from 80,733 in the previous quarter. The higher gross additions, together with better churn performance, led to a net gain of 18,308 postpaid subscribers, reversing the 6,667 net decline recorded in the second quarter. Globe Postpaid’s Average Revenue Per User (ARPU) stood at ₱903 in the first nine months of 2025, showing a slight improvement from ₱901 in the same period last year. On a sequential basis, ARPU remained stable at ₱908 compared to ₱907 in the previous quarter, reflecting steady spending levels among postpaid customers despite the softer acquisition trend. Prepaid Globe’s prepaid segment, which includes the Globe Prepaid (including GOMO) and TM brands, accounted for 96% of its total cumulative mobile subscriber base as of end-September 2025. Cumulative prepaid subscribers reached 60.7 million, up 5% from 57.7 million in the same period of 2024. According to the National Telecommunications Commission (NTC) Memorandum Circular 03-07-2009, the first expiry periods ranged from 3 days for loads worth ₱10 or below to 120 days for reloads amounting to ₱300 and above. The second expiry remained at 120 days from the date of the new first expiry periods. The first expiry was reset based on the longest expiry period among current and previous reloads. Under this policy, subscribers were included in the subscriber count until churned. However, Joint Memorandum Circular No. 05-12-2017 issued by the NTC, the Department of Information and Communications Technology (DICT), and the Department of Trade and Industry (DTI) mandates that all prepaid loads shall have a one-year expiration period regardless of the amount. In compliance with this regulation, Globe implemented a one-year expiration period for prepaid loads worth 300 pesos and above on January 6, 2018. Later, on July 5, 2018, Globe extended the implementation to all Globe prepaid loads, including denominations below 300 pesos. Meanwhile, the SIM Card Registration Act (SRA) (Republic Act No. 11934) was signed into law on October 10, 2022. This law requires all SIM owners to register their SIMs to continue using them for SEC Form 17Q – 3Q 2025 32 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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mobile internet, calls, and texts. The registration applies to all SIMs, both in card and electronic form, used in mobile phones, prepaid WiFi kits, or other devices. Failure to register will result in the deactivation of the SIM and the inability to use it. As per the law, all SIMs sold by telecommunications companies, authorized distributors, or resellers will be initially deactivated and only activated once the buyer registers the SIM on authorized registration platforms. The Philippines' SIM Registration Act is intended to address the growing problem of cybercrime in the country, particularly the proliferation of smishing and other forms of scam and spam messaging enabled by the anonymity afforded by prepaid SIMs. The succeeding sections discuss the performance of the Globe Prepaid and TM brands in more detail. a. Globe Prepaid (including GOMO) As of end-September 2025, Globe Prepaid’s subscriber base stood at 33.3 million, reflecting a 5% year-on-year increase. Gross acquisitions totaled 6.5 million in the first nine months of the year, down 7% from nearly 7.0 million in the same period last year. An improvement in churn rate to 1.8% from 1.9% a year ago helped drive the 1.2 million net subscriber additions this period, though this was lower than the 1.8 million net adds recorded a year ago. On a quarter-on-quarter basis, gross acquisitions rose by 4%, while net additions declined by 68% to only 169,061 from 524,899 in the second quarter. The drop was driven by a higher churn rate of 2.1%, up from 1.6% in the previous quarter. Globe Prepaid’s Average Revenue Per User (ARPU) dropped to ₱137, an 8% decline year-on-year from ₱150 in the first nine months of 2024, despite a 2% uplift during the third quarter. b. TM As of end-September 2025, TM’s cumulative subscriber base reached 27.4 million, reflecting a 5% year-on-year increase. However, gross acquisitions declined by 3% to 6.3 million in the first nine months of 2025, compared to 6.4 million in the same period last year. This drop, combined with higher churn, brought net subscriber additions down to 1.0 million, a 29% decrease from 1.5 million in the comparable 2024 period. On a quarter-on-quarter basis, gross acquisitions rose by 1%, while the churn rate improved to 2.1% from 2.2%, which led to an increase in net subscriber additions to 465,436, up from 384,436 in the previous quarter. TM’s Average Revenue Per User (ARPU) TM’s ARPU registered at ₱108, a 5% year-on-year decline from ₱114. Likewise, on a quarter-on-quarter basis, TM saw a 2% drop from ₱110 in the previous quarter. SEC Form 17Q – 3Q 2025 33 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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FIXED LINE AND HOME BROADBAND BUSINESS Service Revenues (Php Mn) Quarter on Quarter Year-on-Year Q3 Q2 QoQ 30-Sep 30-Sep YoY 2025 2025 Change 2025 2024 Change (%) (%) Service Home Broadband¹ 6,132 5,895 4% 17,840 17,887 - Corporate Data² 5,368 4,769 13% 14,995 15,480 -3% Fixed line Voice³ 317 306 4% 943 1,130 -17% Fixed Line & Home Broadband Service Revenues 11,817 10,970 8% 33,778 34,497 -2% 1 Home Broadband service revenues consist of the following: a) Monthly service fees of wired, fixed wireless, bundled voice and data subscriptions; b) Browsing revenues from all postpaid and prepaid wired, fixed wireless Broadband packages in excess of allocated free browsing minutes and expiration of unused value of prepaid load credits; c) Value-added services such as games; and d) Installation charges and other fees associated with the service. e) Revenues from premium content services (where Globe is acting as principal to the contract) are reported gross of the licensors' fees. The latter is reflected as part of maintenance expenses. 2 Corporate data (previously called Fixed line data) service revenues consist of the following: a) Monthly service fees from international and domestic leased lines; b) Revenues from value-added services and ICT; c) Connection charges associated with the establishment of service. 3 Fixed line voice service revenues consist of the following: a) Monthly service fees; b) Revenues from local, international and national long-distance calls made by postpaid, prepaid fixed line voice subscribers and payphone customers, as well as Broadband customers who have subscribed to data packages bundled with a voice service. Revenues are net of prepaid and payphone call card discounts; c) Revenues from inbound local, international and national long-distance calls from other carriers terminating on Globe’s network; d) Revenues from additional landline features such as caller ID, call waiting, call forwarding, multi-calling, voice mail, duplex and hotline numbers and other value-added features; e) Installation charges and other fees associated with the establishment of the service; and f) Revenues from DUO and SUPERDUO (Fixed line portion) service consisting of monthly service fees for postpaid and subscription fees for prepaid. Home Broadband Quarter on Quarter Year-on-Year Q3 Q2 QoQ 30-Sep 30-Sep YoY 2025 2025 Change 2025 2024 Change (%) (%) Cumulative Broadband Subscribers Fixed Wireless 365,886 386,745 -5% 365,886 494,733 -26% Wired 1,688,713 1,553,488 9% 1,688,713 1,202,019 40% Total (end of period) 2,054,599 1,940,233 6% 2,054,599 1,696,752 21% SEC Form 17Q – 3Q 2025 34 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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For the first nine months of 2025, Globe’s Fixed Line and Home Broadband revenues totaled ₱33.8 billion, down 2% year-on-year. The decline was stemmed from weaker results in corporate data (-3%) and fixed-line voice services (-17%). Sequentially, fixed line and home broadband revenues rose 8% quarter-on-quarter to ₱11.8 billion in the third quarter, driven by Globe’s continued push toward higher-value, data-centric offerings to support long-term growth. Globe’s home broadband business contributed ₱17.8 billion in revenues for the nine-month period ended September 2025, broadly flat year-on-year, as the ongoing tapering of the fixed wireless business was partly offset by the migration of subscribers to fiber. Home broadband revenues rose 4% quarter-on-quarter to ₱6.1 billion in the third quarter, signaling stabilization as fiber adoption deepened across the base. GFiber Prepaid (GFP) continued to gain remarkable traction in the third quarter, solidifying its standing as the country’s fastest-growing prepaid fiber service. GFP subscribers hit 700K by end-September, up 28% quarter-on-quarter and over 3.7x from a year ago. The brand continues to resonate with households through its affordable and flexible fiber offers, driving wider adoption across segments. At the same time, higher-value reload activity pushed ARPU upward, with average daily top-ups surging more than 4.2x in 3Q25 versus the 2024 average. The outperformance of GFiber Prepaid highlights Globe’s successful execution in democratizing fiber access for more Filipino homes. Fiber now makes up 91% of total home broadband revenues, compared to 86% a year earlier, underscoring the growing demand for GFiber Prepaid alongside postpaid plans. Total fiber revenues rose 5% year-on-year, while the fiber subscriber base expanded by 44%, bringing Globe’s total broadband subscribers to 2.1 million as of September 2025, from 1.7 million in the prior year. To meet rising demand for flexible, high-speed connectivity suited to modern digital lifestyles, Globe expanded its product portfolio with the launch of a breakthrough offering: the Globe At Home 5G Loop. Since its launch in September, the Globe At Home 5G Loop has seen encouraging early take-up, signaling growing interest in flexible, high-speed connectivity. Available exclusively in select Globe stores, the 5G Loop offers fiber-like speeds, unlimited internet both at home and on the go, and an easy, plug-and-play setup perfect for today’s always-on digital lifestyles. A first in the world, the 5G Loop features a WiFi router with an Android touchscreen interface, high-quality speakers, and long-lasting batteries that keep users connected even on the beach or wherever they choose to call home. The team continues to gather insights and refine the experience to ensure a seamless and reliable connection for our customers. Corporate Data Corporate data business posted ₱15.0 billion in revenues for the nine-month period ended September 2025, a 3% year-on-year decline driven by a 13% drop in core data services amid more measured enterprise spending. However, this was partially offset by the 14% year-on-year increase in ICT-related services, fueled by sustained demand for Business Application Solutions, cybersecurity, data center solutions, Big Data, and IoT. Sequentially, corporate data revenues rose 13% quarter-on-quarter to ₱5.4 billion in the third quarter, signaling an emerging rebound in enterprise digitalization efforts. This improvement aligns with Globe’s strategy to evolve beyond connectivity and deliver innovative, technology-led solutions that address the rapidly changing needs of its enterprise customers. Fixed line Voice Fixed-line voice revenues totaled ₱943 million in the first nine months of 2025, down 17% from the same period last year, as demand for traditional voice services continued to decline in favor of digital alternatives. SEC Form 17Q – 3Q 2025 35 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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On a sequential basis, revenues slipped 4% to ₱317 million in the third quarter, reflecting the continued erosion of legacy usage. OTHER GLOBE REVENUES International Long Distance (ILD) Services Both Globe and Innove offer ILD voice services which cover international call services between the Philippines to 240 destinations with 6162 roaming partners. This service generates revenues from both inbound and outbound international call traffic, with pricing based on agreed international termination rates for inbound traffic revenues and NTC-approved ILD rates for outbound traffic revenues. Globe’s ILD voice revenues from mobile and fixed line businesses totaled ₱956 million for the nine-month period ended September 2025, down 16% from ₱1.14 billion in the same period last year. The decline was primarily due to reduced IDD usage, as customers continued shifting to internet-based alternatives such as video calls and messaging apps. On a sequential basis, ILD revenues inched up by 2% to ₱332 million in the third quarter. Meanwhile, Globe sustained its promotion on OFW SIM packs and the discounted call rate offers. 2 Inbound and Outbound global roaming partners SEC Form 17Q – 3Q 2025 36 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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GROUP OPERATING EXPENSES Globe’s total costs and expenses, including depreciation and amortization, increased slightly by 1% year-on-year to ₱97.5 billion in the first nine months of 2025. This marginal rise was primarily driven by higher interconnect charges (+16%), depreciation and amortization (+7%), and modest upticks in lease and provisions. These were partially offset by significant declines in marketing and subsidy (-29%), staff costs (-7%), and services and others (-4%). On a quarter-on-quarter basis, Globe’s total costs and expenses rose 3% in Q3 2025 versus Q2 2025, reaching ₱33.0 billion. This was mainly due to higher staff costs (+15%), interconnect costs (+28%), and slight increases in administrative and marketing expenses. These were tempered by reductions in provisions (-13%) and repairs and maintenance (-11%). (Php Mn) Quarter on Quarter Year-on-Year Q3 Q2 QoQ 30-Sep 30-Sep YoY 2025 2025 Change 2025 2024 Change (%) (%) Interconnect 523 409 28% 1,373 1,187 16% Marketing and Subsidy 816 771 6% 2,365 3,342 -29% Staff Costs 4,717 4,117 15% 13,127 14,060 -7% Utilities, Supplies & Other Administrative Expenses 3,081 2,935 5% 8,687 8,620 1% Lease 841 869 -3% 2,529 2,336 8% Repairs & Maintenance 3,311 3,734 -11% 10,501 10,281 2% Provisions 902 1,037 -13% 3,138 2,949 6% Services and Others 5,252 5,085 3% 15,771 16,369 -4% Operating Expenses & Subsidy 19,443 18,957 3% 57,491 59,144 -3% Depreciation and Amortization 13,552 12,989 4% 39,982 37,301 7% Costs and Expenses 32,995 31,946 3% 97,473 96,445 1% Interconnect As of the end of September 2025, Globe's interconnect charges increased by 16% year-on-year, reaching ₱1.4 billion, up from ₱1.2 billion in the same period last year. This increase was primarily attributed to higher data roaming and Application-to-Person (A2P) domestic SMS payouts. Likewise, interconnect costs grew by 28% sequentially from the previous quarter, rising to ₱523 million from ₱409 million, primarily due to higher data roaming payout. Marketing & Subsidy Marketing and subsidy expenses decreased by 29% year-on-year, from ₱3.3 billion last year to ₱2.4 billion this period. This decline was primarily due to lower subsidy and commissions, despite higher spending for media ads and placements. On a sequential basis, marketing and subsidy grew by 6% to ₱816 million, from ₱771 million in the second quarter, due to higher subsidy and commissions tempered by lower ad spending during the quarter. SEC Form 17Q – 3Q 2025 37 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Staff Costs Staff costs fell by 7% year-on-year to ₱13.1 billion, from ₱14.1 billion. Compared to the previous quarter, staff costs increased by 15% to ₱4.7 billion, from ₱4.1 billion coming from increase in headcount. Utilities, Supplies and Other Administrative Expenses Globe’s utilities, supplies, and other administrative expenses increased 1% year-on-year to ₱8.7 billion from ₱8.6 billion, mainly on higher electricity charges, tempered by lower travel & transportation, and supplies expenses. On a sequential basis, utilities, supplies, and other administrative expenses increased by 5% to ₱3.1 billion from ₱2.9 billion, mainly driven by higher electricity consumption during the quarter. Lease Lease expenses were higher year-on-year, rising by 8% to ₱2.5 billion from ₱2.3 billion, due to increased costs from co-location and IP port leases. Compared to the prior quarter, lease costs slid by 3% to ₱841 million, from ₱869 million, driven by lower cell site leases. Repairs & Maintenance Repairs and maintenance costs increased 2% year-on-year to ₱10.5 billion this period from ₱10.3 billion in the first nine months of 2024, largely due to higher expenses related to hardware and software licenses, as well as tower maintenance activities. Quarter-on-quarter, costs declined by 11% to ₱3.3 billion from ₱3.7 billion last quarter, driven by reduced spending on hardware and software, and outside plant maintenance. Provisions This account includes provisions associated with trade, non-trade, traffic receivables, inventory obsolescence and provision for taxes. Globe's provisions amounted to ₱3.1 billion as of end-September 2025, up 6% year-on-year, driven by lower trade provisions, partially offset by higher inventory provisions. On a quarterly basis, provisions declined by 13% to ₱902 million this quarter from ₱1.0 billion in Q2, bulk coming from trade provisions. Services and Others Globe’s services and other expenses, which account for 27% of total operating expenses and subsidy, decreased by 4% year-on-year to ₱16.0 billion from ₱16.4 billion. The reduction was primarily driven by lower managed services and cloud costs, as well as decreased insurance, meetings, and taxes. Services and other expenses inreased by 3% to ₱5.3 billion in the third quarter, down from ₱5.1 billion in the prior quarter. The increase was due to higher expenses on subscriber line installation and other managed services, which were partially offset by lower taxes & licenses, and meeting-related costs during the quarter. Depreciation and Amortization Depreciation and amortization saw a 7% year-on-year increase, reaching ₱40.0 billion from ₱37.3 billion, mainly due to ongoing network expansion. Similarly, on a quarter-on-quarter basis, these costs grew by 4%, from ₱13.0 billion in the previous quarter to ₱13.6 billion. SEC Form 17Q – 3Q 2025 38 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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OTHER INCOME STATEMENT ITEMS (Php Mn) Quarter on Quarter Year-on-Year Q3 Q2 QoQ 30-Sep 30-Sep YoY 2025 2025 Change 2025 2024 Change (%) (%) Financing Costs Interest Expense (4,041) (3,892) 4% (11,781) (10,292) 14% Swap costs and other financing costs (105) (111) -6% (324) (219) 48% Foreign Exchange Gain (Loss) (1,876) 1,105 -270% 53 (460) -111% (6,021) (2,898) 108% (12,053) (10,971) 10% Other Income Gain (Loss) on derivative instruments 2,090 (1,297) -261% 19 712 -97% Interest Income 217 159 37% 542 626 -13% Others 1,651 2,119 -22% 8,447 7,468 13% Equity share from Affiliates (net) 1,625 2,129 -24% 5,664 3,945 44% Frequency/Intangible Amortization (94) (94) - (282) (282) - Others – net 119 85 41% 3,065 3,805 -19% Total Income (Other Expenses) (2,064) (1,917) 8% (3,044) (2,165) 41% As of end-September 2025, Globe reported total non-operating charges of ₱3.0 billion, higher than the ₱2.2 billion recorded in the same period last year. This was primarily driven by lower gains from the tower sale and leaseback deal and higher net interest expenses, as partly offset by the recognition of one-time gain on the dilution of share in Mynt and stronger equity earnings from affiliates. Sequentially, total non-operating charges rose to ₱2.1 billion in the third quarter from ₱1.9 billion in the second quarter, mainly reflecting higher net interest and lower equity share from affiliates. (See related discussion on derivative instruments and swap costs in the Foreign Exchange and Interest Rate Exposure section) SEC Form 17Q – 3Q 2025 39 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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LIQUIDITY AND CAPITAL RESOURCES For the Year Ended 30-Sep 31 Dec YoY 2025 2024 Change (%) Balance Sheet Data (Php Mn) Total Assets 656,754 633,636 4% Total Debt 253,491 249,460 2% Total Stockholders’ Equity 174,395 167,779 4% Financial Ratios (x) Total Debt to EBITDA (gross) 2.69 2.66 Total Debt to EBITDA (net) 2.40 2.43 Debt Service Coverage 3.74 3.42 Interest Coverage (Gross) 4.40 4.55 Total Debt to Total Capitalization (Book) 0.59 0.60 Total Debt to Total Capitalization (Market) 0.54 0.44 Globe maintains a robust financial position, with sufficient liquidity and gearing levels that are well within the bank covenants. As of September 30, 2025, the Globe's consolidated assets stood at ₱656.8 billion, 4% higher from the ₱633.6 billion reported on December 31, 2024. Furthermore, the consolidated cash and cash equivalents reached ₱27.7 billion by the end of September 2025, compared to ₱21.4 billion reported at the end of December 2024. Globe’s cash equivalents consist of short-term, highly liquid time deposit placements. Globe’s current ratio improved to 0.68:1 as of September 30, 2025, from 0.62:1 as of December 31, 2024. While still below the SEC’s minimum threshold of 1:1, the company maintains confidence in its ample liquidity sources to meet its debt maturities, currently and prospectively. The financial tests under Globe’s loan agreements include compliance with the following ratios: ● Total debt* to EBITDA not exceeding 3.5:1; ● Total Debt service coverage1 exceeding 1.3 times; and ● Secured debt ratio2 not exceeding 0.2 times. *Composed of loans payable and net derivative liabilities 1 Debt service coverage ratio is defined as the ratio of EBITDA to required debt service, where debt service includes subordinated debt but excludes shareholder loans. 2 Secured debt ratio is defined as the ratio of the total amount for the period of all present consolidated obligations for payment, which are secured by Permitted Security Interest as defined in the loan agreement to the total amount of consolidated debt. As of 30 September 2025, Globe is well within the ratios prescribed under its loan agreements. On November 2, 2021, Globe Telecom issued US$600 million senior perpetual capital securities with an initial distribution rate of 4.20% payable semi-annually and callable on or after August 2, 2026. The distribution rate is subject to a step up on the fifth anniversary and shall be recalculated every five years thereafter. The capital securities were classified as equity since there is no fixed redemption date and the redemption is at the option of Globe Telecom. Globe Telecom also has the right to defer payment of any or all of the distribution. On November 3, 2021, the capital securities were listed in Singapore Exchange Securities Trading Limited. SEC Form 17Q – 3Q 2025 40 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Distribution to holders of capital securities in the nine-month period ended September 30, 2025 and 2024 amounted to ₱664.48 million and ₱681.55 million, respectively. Consolidated Net Cash Flows (Php Mn) For the Quarter Ended 30-Sep 30-Sep YoY 2025 2024 Change (%) Net Cash from Operating Activities 60,711 65,564 -7% Net Cash from Investing Activities (24,904) (14,516) 72% Net Cash from Financing Activities (29,131) (45,299) -36% Net cash flows provided by operating activities for the first nine months of the year was ₱60.7 billion, lower by 7% from the same period last year. Meanwhile, net cash used in investing activities amounting to ₱24.9 billion, was 72% higher from a year ago. Similarly, consolidated cash capital expenditures as of end-September 2025 amounted to ₱31.4 billion, or down by 23% compared to the year earlier. (Php Mn) For the Quarter Ended 30-Sep 30-Sep YoY 2025 2024 Change (%) Cash Capital Expenditures¹ 31,440 41,014 -23% Total Additions to Property and equipment and Intangible assets² 38,704 44,035 -12% Cash Capital Expenditures¹/ Service Revenues (%) 26% 33% 1 Cash capital expenditures-property & equipment and intangibles as of report date 2 Include property and equipment, intangibles and capitalized borrowing costs acquired as of report date regardless of whether payment has been made or not. Consolidated net cash used in financing activities decreased by 36% year-on-year to ₱29.1 billion as of September 30, 2025, from ₱45.3 billion in the same period last year. The improvement was primarily driven by lower net loan and interest payments, partially offset by slightly higher dividend payouts. Consolidated total debt increased by 2% from ₱249.5 billion at the end of December 2024 to ₱253.5 billion this period. Below is the schedule of debt maturities for Globe for the years stated below based on total outstanding debt as of September 30, 2025: Year Due Principal* (US$ Mn) 2025 88.96 2026 382.46 2027 402.55 2028 through 2040 3,507.05 Total 4,381.02 SEC Form 17Q – 3Q 2025 41 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Globe has available uncommitted short-term credit facilities of USD 114 million and ₱84,151 million as of September 30, 2025 and USD 114 million and ₱85,788 million as of December 31, 2024. Globe also has USD 50 million and ₱3,000 million committed short-term credit facilities as of September 30, 2025 and December 31, 2024. There are no outstanding long term committed credit facilities as of September 30, 2025 and December 31, 2024, respectively. There are nil and ₱7.3 billion outstanding short-term loans as of September 30, 2025 and December 31, 2024, respectively. Stockholders’ equity as of the first nine months of 2025 stood at ₱174,395 million from ₱167,779 million last year. Globe’s capital stock consists of the following: Voting Preferred Stock Voting Preferred stock at a par value of ₱5 per share of which 158.5 million shares are outstanding out of a total authorized of 160 million shares. The dividends for voting preferred stock are declared upon the sole discretion of Globe Telecom’s BOD. To date, none of the voting preferred shares have been converted to common shares. Non-Voting Preferred Stock and Treasury Shares Non-Voting Preferred stock at a par value of ₱50 per share of which 20 million shares are issued out of a total authorized of 40 million shares. The Globe’s treasury shares pertain to the 20 million non-voting preferred shares that were redeemed on August 22, 2021 for ₱10 billion. On August 5, 2025, the BOD approved and authorized the shelf registration of up to 20 million non-voting preferred shares with a par value of ₱50 per share. Additionally, the BOD approved and authorized the initial offering and listing of such non-voting preferred shares with an aggregate amount up to twenty five billion pesos ₱25,000 million subject to the registration requirements of the SEC and the listing requirements of the PSE. Common Stock Common stock at par value of ₱50 per share of which 144.5 million are issued and outstanding out of a total authorized of 168.9 million shares. Cash Dividends The dividend policy of Globe as approved by the Board of Directors is to declare cash dividends to its common stockholders on a regular basis as may be determined by the Board. The dividend payout rate is reviewed annually and subsequently each quarter of the year, to take into consideration Globe Telecom’s operating results, cash flows, debt covenants, capital expenditure levels and liquidity. Pursuant to the Corporation’s amended By-Laws as ratified by stockholders in the annual stockholders’ meeting on April 20, 2021, the dividends shall be paid by electronic transfer to stockholders with enrolled accounts. For stockholders with no enrolled accounts, the dividend checks shall be available for pick-up at the Stock Transfer Service, Inc. at 34/F Rufino Pacific Tower, 6784 Ayala Avenue, Makati City at the declared payment dates. On February 6, 2024, The Globe Board of Directors approved the change in the dividend policy to 60% to 90% (from 60% to 75%) of prior year’s core net income. The amended policy will provide SEC Form 17Q – 3Q 2025 42 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Globe with increased flexibility for future dividend declarations that are in line with the expected improvements in earnings and cash flow generation given the Company’s reduced capex spending. Also, a wider payout range allows the Company to maximize value to its shareholders moving forward and will improve Globe’s dividend payout competitiveness compared to its regional peers. The Board of Directors of Globe approved in separate approvals the declaration of three quarterly distributions of cash dividends of ₱25 per share, paid each last March 7, 2025, June 5, 2025 and September 4, 2025. Each cash dividend payment total to about ₱3.6 billion, bringing total distribution by end of September 2025 to ₱10.8 billion. Return on Average Equity (ROE) Consolidated Return on Average Equity (ROE) registered at 12.5% as of end-September 2025, compared to 15.6% in the same period of 2024, using trailing 12-month net income and the corresponding average equity. Using trailing 12-month core net income, which excludes the effects of non-recurring expenses on net income, return on average equity as of end-September 2025 and 2024 were 11.4% and 13.1%, respectively. Earnings Per Share (EPS) Accordingly, consolidated basic earnings per common share were ₱115.29 and ₱135.25, while consolidated diluted earnings per common share were ₱114.72 and ₱134.59 as of end-September 2025 and 2024, respectively. SEC Form 17Q – 3Q 2025 43 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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FINANCIAL RISK MANAGEMENT FOREIGN EXCHANGE EXPOSURE Foreign exchange risks are managed such that USD inflows from operations (transaction exposures) are balanced or offset by the net USD position of the company (translation exposures). Globe’s risk management policy is to maintain a position which results in a near neutral effect to the P&L relative to movements in the foreign exchange market. Transaction exposures Globe has US$ inflows and outflows arising from its operations. Consolidated foreign currency-linked revenues was at 4% and 5% of total gross service revenues for the periods ended September 30, 2025 and 2024. In contrast, Globe’s foreign-currency linked expenses was at 17% and 16% of total operating expenses for the same period. The US$ flows are as follows: September 30, 2025 US$ and US$ Linked Revenues ₱5.1 billion US$ Operating Expenses ₱9.5 billion US$ Net Interest Expense ₱1.4 billion Due to these net US$ outflows, a depreciation of the Peso has a negative impact on Globe's Peso EBITDA. Globe occasionally enters into short-term foreign currency contracts to hedge against peso depreciation. Includes the following revenues: (1) billed in foreign currency and settled in foreign currency, and (2) billed in Pesos at rates linked to a foreign currency tariff and settled in Pesos Translation Exposures Globe’s foreign exchange translation exposures result primarily from movements of the Philippine Peso (Php) against the U.S. Dollars (USD) with respect to USD-denominated financial assets, USD-denominated financial liabilities and certain USD-denominated revenues. Majority of revenues are generated in Php, while bulk of capital expenditures are in USD. In addition, 19% of debt as of September 30, 2025 are denominated in USD before taking into account any swap and hedges. After swaps, effectively none of the debt is denominated in US$. Information on Globe’s foreign currency-denominated monetary assets and liabilities as of September 30, 2025 are as follows: September 30, 2025 US$ Assets US$159 million US$ Liabilities US$1,490 million Net US$ Liability Position US$1,331 million As of end-September 2025, Globe posted a total of ₱53 million net foreign exchange gains. As of end-September 2025, Globe has US$163 million in cross currency swap contracts which are hedges of the interest and foreign exchange risks of some of the US$ loans maturing in March 2027 SEC Form 17Q – 3Q 2025 44 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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and August 2027. The MTM of the outstanding swap contracts stood at a gain of ₱1,326 million as of end-September 2025. As of end-September 2025, Globe has US$680 million in principal only swap contracts which are hedges of the foreign exchange risks of some of the US$ loans maturing in May 2027, July 2030, and July 2035. The MTM of the swap contracts stood at a gain of ₱3,893 million as of end-September 2025. Globe has US$346 million short-term FX swap contracts which remain outstanding as of end-September 2025. The mark-to-market of the outstanding FX swap contracts stood at a gain of ₱298 million as of end-September 2025. Globe has US$12 million in outstanding forward USD purchase contracts which remain outstanding as of end-September 2025. The mark-to-market of the outstanding forward USD purchase contracts stood at a gain of ₱9 million as of end-September 2025. INTEREST RATE EXPOSURE Interest rate exposures are managed using a mix of fixed and floating rate debt that are meant to achieve a balance between cost and volatility. As of end-September 2025, Globe has US$163 million in cross currency swaps. The US$ swaps fixed some of the Company’s outstanding floating rate debts with quarterly payment intervals up to March 2027 and August 2027. As of end-September 2025, 53% (excluding short-term debt) of peso debt is fixed, while 88% of USD debt is fixed after swaps. SEC Form 17Q – 3Q 2025 45 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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CREDIT EXPOSURES FROM FINANCIAL INSTRUMENTS Outstanding credit exposures from financial instruments are monitored daily and counterparties are reviewed quarterly. For investments, Globe does not have investments in foreign securities (bonds, collateralized debt obligations (CDO), collateralized mortgage obligations (CMO), or any instruments linked to the mortgage market in the US). Globe’s excess cash is invested in short term bank deposits. Globe also does not have any investments or hedging transactions with investment banks. Derivative transactions as of the end of the period are with large foreign and local banks. Furthermore, Globe does not have instruments in its portfolio which became inactive in the market nor does the company have any structured notes which require use of judgment for valuation purposes. VALUATION OF DERIVATIVE TRANSACTIONS The company uses valuation techniques that are commonly used by market participants and that have been demonstrated to provide reliable estimates of prices obtained in actual market transactions. The company uses readily observable market yield curves to discount future receipts and payments on the transactions. The net present value of receipts and payments are translated into Peso using the foreign exchange rate at time of valuation to arrive at the mark to market value. For derivative instruments with optionality, the company relies on valuation reports of its counterparty banks, which are the company’s best estimates of the close-out value of the transactions. Gains (losses) on derivative instruments represent the net mark-to-market (MTM) gains (losses) on derivative instruments. As of September 30, 2025, the MTM value of the derivatives of Globe amounted to ₱5,526 million while net gains on derivative instruments arising from changes in MTM reflected in the consolidated income statements as of end-September 2025 amounted to ₱19 million. To measure riskiness, the Company provides a sensitivity analysis of its profit and loss (P&L) from financial instruments resulting from movements in foreign exchange and interest rates. The interest rate sensitivity estimates the changes to the following P&L items, given an indicated movement in interest rates: (1) interest income, (2) interest expense, (3) mark-to-market of derivative instruments. The foreign exchange sensitivity estimates the P&L impact of a change in the USD/PHP rate as it specifically pertains to the revaluation of the net unhedged liability position of the company, and foreign exchange derivatives. SEC Form 17Q – 3Q 2025 46 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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LEGAL, REGULATORY AND CORPORATE DEVELOPMENTS Globe is contingently liable for various claims arising in the ordinary conduct of business and certain tax assessments which are either pending decisions by the courts or are being contested, the outcome of which are not presently determinable. In the opinion of management and legal counsel, the possibility of outflow of economic resources to settle the contingent liability is remote. (see Note 21 of the attached consolidated financial statement) Interconnection Charge for Short Messaging Service On October 10, 2011, the NTC issued Memorandum Circular (MC) No. 02-10-2011 titled Interconnection Charge for Short Messaging Service requiring all public telecommunication entities to reduce their interconnection charge to each other from ₱0.35 to ₱0.15 per text, which Globe Telecom complied as early as November 2011. On December 11, 2011, the NTC One Stop Public Assistance Center (OSPAC) filed a complaint against Globe Telecom, Smart and Digitel alleging violation of the said MC No. 02-10-2011 and asking for the reduction of SMS off-net retail price from P1.00 to P0.80 per text. Globe Telecom filed its response maintaining the position that the reduction of the SMS interconnection charges does not automatically translate to a reduction in the SMS retail charge per text. On November 20, 2012, the NTC rendered a decision directing Globe Telecom to: ▪ Reduce its regular SMS retail rate from ₱1.00 to not more than ₱0.80; ▪ Refund/reimburse its subscribers the excess charge of ₱0.20; and ▪ Pay a fine of ₱200.00 per day from December 1, 2011 until date of compliance. On May 7, 2014, NTC denied the Motion for Reconsideration (MR) filed by Globe Telecom last December 5, 2012 in relation to the November 20, 2012 decision. Globe Telecom’s assessment is that Globe Telecom is in compliance with the NTC Memorandum Circular No. 02-10-2011. On June 9, 2014, Globe Telecom filed petition for review of the NTC decision and resolution with the Court of Appeals (CA). The CA granted the petition in a resolution dated September 3, 2014 by issuing a 60-day temporary restraining order on the implementation of Memorandum Circular 02-10-2011 by the NTC. On October 15, 2014, Globe Telecom posted a surety bond to compensate for possible damages as directed by the CA. On June 27, 2016, the CA rendered a decision reversing the NTC’s abovementioned decision and resolution requiring telecommunications companies to cut their SMS rates and return the excess amount paid by subscribers. The CA said that the NTC order was baseless as there is no showing that the reduction in the SMS rate is mandated under MC No. 02-10-2011; there is no showing, either, that the present P1.00 per text rate is unreasonable and unjust, as this was not mandated under the memorandum. Moreover, under the NTC’s own MC No. 02-05-2008, SMS is a value added service (VAS) whose rates are deregulated. The respective motions for reconsideration filed by NTC and that of intervenor Bayan Muna Party List (Bayan Muna) Representatives Neri Javier Colmenares and Carlos Isagani Zarate were both denied. The NTC thus elevated the CA’s ruling to the Supreme Court (SC) via a Petition for Review on Certiorari dated September 15, 2017. For its part, Bayan Muna filed its own Petition for Review on Certiorari of the CA’s Decision. On January 4, 2018, Globe received a copy of the SC’s Resolution dated November 6, 2017, requiring it to comment on said petition of Bayan Muna. Subsequently, on February 21, 2018, Globe received a copy of the SC’s Resolution dated December 13, 2017 consolidating the Petitions for Review filed by Bayan Muna and NTC, and requiring Globe to file its comment on the petition for review filed by NTC. Thus, on April 2, 2018, Globe filed its Consolidated Comment on both Bayan Muna and the NTC’s petitions for review. On September 18, 2018, Globe received a copy of Bayan Muna’s SEC Form 17Q – 3Q 2025 47 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Consolidated Reply to Globe’s Consolidated Comment and Digitel and Smart’s Comment. Globe Telecom believes that it did not violate NTC MC No. 02-10-2011 when it did not reduce its SMS retail rate from Php 1.00 to Php 0.80 per text, and hence, would not be obligated to refund its subscribers. However, if it is ultimately decided by the Supreme Court (on the appeal taken thereto by the NTC from the adverse resolution of the CA) that Globe Telecom is not compliant with said circular, Globe may be contingently liable to refund to its subscribers the ₱0.20 difference (between ₱1.00 and ₱0.80 per text) reckoned from November 20, 2012 until said decision by the SC becomes final and executory. Management does not have an estimate of the potential claims currently. Guidelines on Unit of Billing of Mobile Voice Service On July 23, 2009, the NTC issued NTC MC No. 05-07-2009 (Guidelines on Unit of Billing of Mobile Voice Service). The MC provides that the maximum unit of billing for the Cellular Mobile Telephone System (CMTS) whether postpaid or prepaid shall be six (6) seconds per pulse. The rate for the first two (2) pulses, or equivalent if lower period per pulse is used, may be higher than the succeeding pulses to recover the cost of the call set-up. Subscribers may still opt to be billed on a one (1) minute per pulse basis or to subscribe to unlimited service offerings or any service offerings if they actively and knowingly enroll in the scheme. On December 28, 2010, the Court of Appeals (CA) rendered its decision declaring null and void and reversing the decisions of the NTC in the rates applications cases for having been issued in violation of Globe Telecom and the other carriers’ constitutional and statutory right to due process. However, while the decision is in Globe Telecom’s favor, there is a provision in the decision that NTC did not violate the right of petitioners to due process when it declared via circular that the per pulse billing scheme shall be the default. On January 21, 2011, Globe Telecom and two other telecom carriers, filed their respective Motions for Partial Reconsideration (MPR) on the pronouncement that “the Per Pulse Billing Scheme shall be the default”. The petitioners and the NTC filed their respective Motion for Reconsideration, which were all denied by the CA on January 19, 2012. On March 12, 2012, Globe and Innove elevated to the SC the questioned portions of the Decision and Resolution of the CA dated December 28, 2010 and its Resolution dated January 19, 2012. The other service providers, as well as the NTC, filed their own petitions for review. The adverse parties have filed their comments on each other’s petitions, as well as their replies to each other’s comments. Parties were required to file their respective Memoranda and Globe filed its Memorandum on May 25, 2018. On September 18, 2024, Globe and Innove received the SC’s Decision promulgated on February 13, 2023 sustaining the CA’s Decision dated December 28, 2010 and Resolution dated January 19, 2012 which reversed and set aside the NTC’s Orders dated December 5, 2009 and Show Cause Orders and Cease and Desist Orders dated December 9, 2009. The High Court also made permanent the writ of preliminary injunction issued by the CA enjoining the NTC from enforcing its assailed Orders. In due course, the NTC filed its Motion for Reconsideration (MR) of the SC’s aforesaid decision. On August 5, 2025, Globe and Innove received the Supreme Court Resolution’s dated May 19, 2025, denying the NTC’s MR with FINALITY, the basic issues raised therein having been duly considered and passed upon by the court in its aforesaid decision. On August 27, 2025, Globe and Innove received a copy of the Entry of Judgement rendering the case closed and terminated. Acquisition by Globe Telecom and PLDT of the Entire Issued and Outstanding Shares of VTI In a letter dated June 7, 2016 issued by Philippine Competition Commission (PCC) to Globe Telecom, PLDT, SMC and VTI regarding the Joint Notice filed by the aforementioned parties on May 30, 2016, disclosing the acquisition by Globe Telecom and PLDT of the entire issued and outstanding shares of SEC Form 17Q – 3Q 2025 48 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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VTI, the PCC claims that the Notice was deficient in form and substance and concludes that the acquisition cannot be claimed to be deemed approved. On June 10, 2016, Globe Telecom formally responded to the letter reiterating that the Notice, which sets forth the salient terms and conditions of the transaction, was filed pursuant to and in accordance with MC No. l6-002 issued by the PCC. MC No. 16-002 provides that before the implementing rules and regulations for RA No. 10667 (the Philippine Competition Act of 2015) come into full force and effect, upon filing with the PCC of a notice in which the salient terms and conditions of an acquisition are set forth, the transaction is deemed approved by the PCC and as such, it may no longer be challenged. Further, Globe Telecom clarified in its letter that the supposed deficiency in form and substance of the Notice is not a ground to prevent the transaction from being deemed approved. The only exception to the rule that a transaction is deemed approved is when a notice contains false material information. In this regard, Globe Telecom stated that the Notice does not contain any false information. On June 17, 2016, Globe Telecom received a copy of the second letter issued by PCC stating that notwithstanding the position of Globe Telecom, it was ruled that the transaction was still subject for review. On July 12, 2016, Globe Telecom asked the CA to stop the government's anti-trust body from reviewing the acquisition of SMC's telecommunications business. Globe Telecom maintains the position that the deal was approved after Globe Telecom notified the PCC of the transaction and that the anti-trust body violated its own rules by insisting on a review. On the same day, Globe Telecom filed a Petition for Mandamus, Certiorari and Prohibition against the PCC, docketed as CA-G.R. SP No. 146538. On July 25, 2016, the CA, through its 6th Division issued a resolution denying Globe Telecom’s application for TRO and injunction against PCC’s review of the transaction. In the same resolution, however, the CA required the PCC to comment on Globe Telecom's petition for certiorari and mandamus within 10 days from receipt thereof. The PCC filed said comment on August 8, 2016. In said comment, the PCC prayed that the ₱70.00 billion deal between PLDT-Globe Telecom and San Miguel be declared void for PLDT and Globe Telecom’s alleged failure to comply with the requirements of the Philippine Competition Act of 2015. The PCC also prayed that the CA direct Globe Telecom to: cease and desist from further implementing its co-acquisition of the San Miguel telecommunications assets; undo all acts consummated pursuant to said acquisition; and pay the appropriate administrative penalties that may be imposed by the PCC under the Philippine Competition Act for the illegal consummation of the subject acquisition. Meanwhile, PLDT filed a similar petition with the CA, docketed as CA G.R. SP No. 146528, which was raffled off to its 12th Division. On August 26, 2016, PLDT secured a TRO from said court. Thereafter, Globe Telecom’s petition was consolidated with that of PLDT, before the 12th Division. The consolidation effectively extended the benefit of PLDT’s TRO to Globe Telecom. The parties were required to submit their respective Memoranda, after which, the case shall be deemed submitted for resolution. On February 17, 2017, the CA issued a Resolution denying PCC’s Motion for Reconsideration dated September 14, 2016 for lack of merit. In the same Resolution, the Court granted PLDT’s Urgent Motion for the Issuance of a Gag Order and ordered the PCC to remove the offending publication from its website and also to obey the sub judice rule and refrain from making any further public pronouncements regarding the transaction while the case remains pending. The Court also reminded the other parties, PLDT and Globe, to likewise observe the sub judice rule. For this purpose, the Court issued its gag order admonishing all the parties “to refrain, cease and desist from issuing public comments and statements that would violate the sub judice rule and subject them to indirect contempt of court. The parties were also required to comment within ten days from receipt of the Resolution, on the Motion for Leave to Intervene, and Admit the Petition-in Intervention dated February 7, 2017 filed by Citizenwatch, a non-stock and non-profit association. SEC Form 17Q – 3Q 2025 49 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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On April 18, 2017, PCC filed a petition before the SC docketed as G.R. No. 230798, to lift the CA's order that has prevented the review of the sale of San Miguel Corp.'s telecommunications unit to PLDT Inc. and Globe Telecom. On April 25, 2017, Globe filed before the SC a Motion for Intervention with Motion to Dismiss the petition filed by the PCC. As of June 30, 2017, the SC did not issue any TRO on the PCC's petition to lift the injunction issued by the CA. Hence, the PCC remains barred from reviewing the SMC deal. On July 26, 2017, Globe received the SC en banc Resolution granting Globe's Extremely Urgent Motion to Intervene. In the same Resolution, the Supreme Court treated as Comment, Globe's Motion to Dismiss with Opposition Ad Cautelam to PCC's Application for the Issuance of a Writ of Preliminary Injunction and/or TRO. On August 31, 2017, Globe received another Resolution of the SC en banc, requiring the PCC to file a Consolidated Reply to the Comments respectively filed by Globe and PLDT, within ten (10) days from notice. On November 16, 2017, after several extensions of time were granted to the PCC, the Corporation through its external counsel, received a copy of the Consolidated Reply dated November 7, 2017 filed by the PCC. In the meantime, in a Decision dated October 18, 2017, the CA, in CA-G.R. SP No. 146528 and CA-G.R. SP No. 146538, granted Globe and PLDTs Petition to permanently enjoin and prohibiting PCC from reviewing the acquisition and compelling the PCC to recognize the same as deemed approved. PCC elevated the case to the SC via Petition for Review on Certiorari. On June 1, 2018, the Corporation received a copy of the Court of Appeals’ Notice of Resolution dated May 25, 2018, and attached Resolution dated May 24, 2018 denying Citizenwatch’s Motion for Partial Reconsideration on the ground of lack of legal standing and mootness. No further action has been taken since the Resolution dated May 24, 2018 of the Court of Appeals. Co-use of frequencies by PLDT/Smart and Globe Telecom as a result of the acquisition of controlling shares in VTI On January 21, 2019, Globe filed its Comment to a petition filed by lawyers Joseph Lemuel Baligod and Ferdinand Tecson before the Supreme Court, against the NTC, PCC, Liberty Broadcasting Network, Inc., (LBNI), Bell Telecommunications Inc. (BellTel), Globe, PLDT and Smart, docketed as G.R. No. 242352. The petition sought to, among others, enjoin PLDT/Smart and Globe from co-using the frequencies assigned to LBNI and BellTel in view of alleged irregularities in NTC’s assignment of these frequencies to these entities. In its Comment, Globe argued that the frequencies were assigned in accordance with existing procedures prescribed by law and that to prevent the use of the frequencies will only result to its being idle and unutilized. Moreover, in view of the substantial investments made by Globe, for the use of these frequencies, enjoining its use will cause grave and irreparable injury not only to Globe but to subscribers who will be deprived of the benefits of fast and reliable telecommunications services. The other Respondents have likewise filed their respective Comments to the petition. RECENT CORPORATE DEVELOPMENTS: Tower Sale and Leaseback Update: Globe Approaches Final Phase of Tower Sale And Leaseback Deal As of end July 2025, Globe officially turned over 6,945 towers under its Sale and Leaseback portfolio, generating approximately ₱89.3 billion in proceeds. A total of 2,410 towers were transferred in 2022, followed by 2,057 in 2023, 2,205 in 2024. To date, 273 towers have been closed SEC Form 17Q – 3Q 2025 50 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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this year, generating approximately ₱3.5 billion in proceeds. Konektadong Pinoy Act (KPA): The Konektadong Pinoy Act (KPA) which lapsed into law last August, establishes a comprehensive legal framework to promote open access, competition, and investment in data transmission infrastructure in the Philippines. It aims to narrow the digital divide by mandating infrastructure sharing, simplifying regulatory processes, ensuring cyber security compliance, and protecting user rights. Under the KPA, new operators classified as Data Transmission Industry Participants (DTIP) who will engage in the provision of data transmission services no longer need to secure a franchise from Congress as a prerequisite to launching a data service. Also, the KPA mandates infrastructure sharing and co-location, requiring incumbents to provide access to network and facilities to other DTIPs and permitting direct satellite access without NTC approval. Likewise, the KPA will establish a Spectrum Management Policy Framework (SMPF) to govern the management, and more crucially, the assignment and even recall of spectrum. The DICT is targeting the issuance of the KPA’s IRR before the end of October, to be followed by the development of the SMPF. OTHER RELEVANT INFORMATION 1. Any events that will trigger direct or contingent financial obligation that is material to the company, including any default or acceleration of an obligation: For details on contingencies please refer to regulatory and corporate developments above. Globe is contingently liable for various claims arising in the ordinary conduct of business and certain tax assessments which are either pending decision by the courts or are being contested, the outcome of which are not presently determinable. In the opinion of management and legal counsel, the possibility of outflow of economic resources to settle the contingent liability is remote. 2. Description of material commitments and general purpose of such commitments. Material off-balance sheet transactions, arrangements, obligations and other relationships with unconsolidated entities or other persons created during the period: For details on material commitments and arrangements, see Note 20 and Note 21 for contingent obligations in the attached Notes to the Financial Statements. 3. Any significant elements of income or loss that did not arise from the registrant's continuing operations: Not applicable. 4. Seasonal aspects that have a material effect on the financial statements No seasonal aspects that have a material effect on the financial statements. SEC Form 17Q – 3Q 2025 51 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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MAJOR STOCKHOLDERS The following are the major stockholders of Globe Telecom as of September 30, 2025 Stockholders Common Shares % of Common Voting Preferred Shares % of Voting Preferred Shares Total Outstanding Shares1 % of Total Outstanding Shares Ayala Corp. 44,266,630 30.64% - - 44,266,630 14.61% SingTel 67,379,310 46.64% - - 67,379,310 22.24% Asiacom - - 158,515,017 100.00% 158,515,017 52.32% Directors*, Officers, ESOP 1,218,011 0.84% 4 0.00% 1,218,015 0.40% Public 31,604,573 21.88% - - 31,604,573 10.43% Total 144,468,524 100.00% 158,515,021 100.00% 302,983,545 100.00% * Messrs. Cruz, Noel, Jocson and Periquet, Jr. directly hold one (1) preferred share each. 1Total shares includes common shares and voting preferred shares; Foreign Ownership Level (%) on all voting shares (total of common and voting preferred shares) is 25.47%, both well within the 40% ownership limit. BOARD OF DIRECTORS (BOD) The members of the Board of Directors of Globe Telecom Inc. as of September 30, 2025 Name Position Jaime Augusto Zobel de Ayala Chairman (NED) Tan Mee Ling Aileen Co-Vice Chair (NED) Cezar P. Consing Co-Vice Chair (NED) Carl Raymond R. Cruz Executive Director, President and Chief Executive Officer Jaime Alfonso Antonio Zobel de Ayala Director (NED) Delfin L. Lazaro Director (NED) Ng Kuo Pin Director (NED) Cirilo P. Noel Lead Independent Director (NED, ID) Natividad N. Alejo Independent Director (NED, ID) Ramon L. Jocson Independent Director (NED, ID) Antonio Jose U. Periquet, Jr. Independent Director (NED, ID) Key Officers* – Globe As of September 30, 2025 Name Position Carl Raymond R. Cruz1 President and Chief Executive Officer (CEO) Juan Carlo C. Puno Chief Finance Officer (CFO), Treasurer, and Chief Risk Officer (CRO) Renato Manuel M. Jiao Chief Human Resource Officer (CHRO) Rebecca V. Eclipse Chief Transformation and Operations Officer (CTOO) and Chief Customer Experience Officer (CCEO) Vicente Froilan M. Castelo General Counsel (GC) Marisalve Ciocson-Co Chief Compliance Officer, Senior Vice President – Legal and Compliance, and Assistant Corporate Secretary Darius Jose R. Delgado Chief Commercial Officer (CCO) Maria Yolanda C. Crisanto Chief Sustainability and Corporate Communications Officer (CSCCO) Raul M. Macatangay Chief Information Officer (CIO) Carmeli Pauline M. Briones Chief Audit Executive (CAE) Anton Reynaldo M. Bonifacio Chief Artificial Intelligence Officer (CAIO) and Chief Information Security Officer (CISO) Maria Franchette M. Acosta Corporate Secretary 1 Member, Board of Directors. SEC Form 17Q – 3Q 2025 52 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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SIGNATURES Pursuant to the requirement of the Securities Regulation Code, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Registrant GLOBE TELECOM, INC. MR. CHAN PAUL T. NICOLAS Head – Financial Control 6 November 2025 MR. JUAN CARLO C. PUNO Chief Finance Officer (CFO), Treasurer, and Chief Risk Officer (CRO) 6 November 2025 SEC Form 17Q – 3Q 2025 53 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . fkon GLOBE TELECOM, INC. AND SUBSIDIARIES Interim Condensed Consolidated Financial Statements As of September 30, 2025 and December 31, 2024 For the periods ended September 30, 2025 and 2024 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . GLOBE TELECOM, INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION September 30, 2025 December 31, 2024 Notes (Unaudited) (Audited) (In Thousand Pesos) ASSETS Current Assets Cash and cash equivalents 3 ₱27,728,379 ₱21,353,659 Trade receivables – net 4 17,548,974 19,660,468 Contract assets – net 5.1 4,648,654 5,442,961 Inventories and supplies – net 1,873,047 2,964,814 Derivative assets – current 385,551 177,153 Prepayments and other current assets 6 23,817,192 19,970,116 76,001,797 69,569,171 Assets classified as held-for-sale 1.15, 7, 9, 10.2 5,985,147 7,648,795 81,986,944 77,217,966 Noncurrent Assets Property and equipment – net 7 359,923,032 352,115,098 Intangible assets and goodwill – net 8 18,303,215 20,130,902 Right of use assets– net 9.1 96,442,381 90,464,458 Investments in joint ventures 10 66,669,915 59,368,924 Deferred income tax assets – net 1,869,812 1,971,459 Derivative assets – net of current portion 5,572,968 5,041,998 Other noncurrent assets 6 25,985,424 27,325,318 574,766,747 556,418,157 TOTAL ASSETS ₱656,753,691 ₱633,636,123 LIABILITIES AND EQUITY Current Liabilities Trade payables and accrued expenses 11 ₱77,605,785 ₱78,107,332 Loans payable – current 12 22,202,462 26,349,796 Lease liabilities – current 9.2 8,575,791 8,175,643 Deferred revenues - current 5.2 6,154,151 6,049,750 Provisions 4,104,460 3,393,957 Income tax payable 812,102 902,334 Derivative liabilities – current 432,722 573,005 119,887,473 123,551,817 Liabilities classified as held-for-sale 1.15 552,046 - 120,439,519 123,551,817 Noncurrent Liabilities Loans payable – net of current portion 12 231,288,990 223,110,113 Lease liabilities – net of current portion 9.2 118,448,195 107,932,231 Deferred income tax liabilities – net 5,056,619 4,363,232 Pension liabilities 3,656,582 2,826,848 Deferred revenues – net of current portion 5.2 447,236 644,855 Other long-term liabilities 3,022,050 3,427,798 361,919,672 342,305,077 Total Liabilities 482,359,191 465,856,894 Equity Capital Stock 13 9,016,001 9,011,592 Additional paid in capital 54,862,551 54,568,560 Cost of share-based compensation 877,122 871,722 Capital securities 13.3 29,977,639 29,977,639 Other reserves 13.8 (2,171,696) (2,269,627) Treasury shares 13.4 (10,000,000) (10,000,000) Retained earnings 13.7 91,783,911 85,588,481 Equity attributable to equity holders of the Parent 174,345,528 167,748,367 Non-controlling interest 48,972 30,862 Total Equity 174,394,500 167,779,229 TOTAL LIABILITIES AND EQUITY ₱656,753,691 ₱633,636,123 See accompanying Notes to Interim Condensed Consolidated Financial Statements. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . GLOBE TELECOM, INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENTS OF TOTAL COMPREHENSIVE INCOME Three-Month Period Ended September 30 Nine-Month Period Ended September 30 Notes 2025 (Unaudited) 2024 (Unaudited) 2025 (Unaudited) 2024 (Unaudited) (In Thousand Pesos, Except Per Share Figures) REVENUES Service revenues ₱41,488,212 ₱41,783,727 ₱121,676,451 ₱124,009,417 Nonservice revenues 2,876,520 3,335,212 9,913,984 10,734,775 19 44,364,732 45,118,939 131,590,435 134,744,192 INCOME Gain on sale and leaseback of telecom towers - net 7 80,134 140,596 380,717 3,627,811 Equity share in net income of joint ventures 10 1,530,854 1,221,621 5,382,412 3,663,759 Interest income 217,160 256,258 542,365 625,734 Gain on disposal of property and equipment – net 96,911 (163,993) 130,684 241,308 Other income – net 14 365,146 501,046 3,215,794 1,225,749 2,290,205 1,955,528 9,651,972 9,384,361 COSTS AND EXPENSES General, selling and administrative expenses 15.1 18,130,298 18,743,558 53,392,602 55,255,588 Depreciation and amortization 15.2 13,551,984 12,540,699 39,981,833 37,301,436 Finance costs 15.3 4,145,716 3,794,046 12,105,366 10,511,036 Cost of inventories sold 2,973,152 3,856,457 10,092,106 11,509,120 Impairment and other losses 15.4 901,660 730,566 3,137,584 2,965,028 Interconnect costs 20.1 522,680 415,507 1,373,238 1,186,758 40,225,490 40,080,833 120,082,729 118,728,966 INCOME BEFORE INCOME TAX 6,429,447 6,993,634 21,159,678 25,399,587 PROVISIONS FOR INCOME TAX Current 831,584 1,002,599 2,705,054 4,896,321 Deferred 343,860 (28,429) 763,795 (53,082) 1,175,444 974,170 3,468,849 4,843,239 NET INCOME 5,254,003 6,019,464 17,690,829 20,556,348 OTHER COMPREHENSIVE INCOME (LOSS) Items that will be reclassified into profit or loss in subsequent periods: Transactions on cash flow hedges – net 13.8 (204,617) 85,296 111,764 (521,187) Exchange differences arising from translations of foreign investments 13.8 153,865 (211,918) 10,657 98,207 (50,752) (126,622) 122,421 (422,980) Item that will not be reclassified into profit or loss in subsequent periods: Changes in fair value of financial assets at fair value through other comprehensive income 13.8 35,071 (41,395) 16,003 108,327 Remeasurement gain (loss) on defined benefit plan 13.8 (684) - 6,239 (27,325) 34,387 (41,395) 22,242 81,002 TOTAL OTHER COMPREHENSIVE INCOME (LOSS) (16,365) (168,017) 144,663 (341,978) TOTAL COMPREHENSIVE INCOME ₱5,237,638 ₱5,851,447 ₱17,835,492 ₱20,214,370 (Forward) Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . GLOBE TELECOM, INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENTS OF TOTAL COMPREHENSIVE INCOME Three-Month Period Ended September 30 Nine-Month Period Ended September 30 Notes 2025 (Unaudited) 2024 (Unaudited) 2025 (Unaudited) 2024 (Unaudited) (In Thousand Pesos, Except Per Share Figures) Total net income attributable to: Equity holders of the Parent ₱5,253,289 ₱6,021,921 ₱17,692,841 ₱20,575,483 Non-controlling interest 714 (2,457) (2,012) (19,135) 5,254,003 6,019,464 17,690,829 20,556,348 Total other comprehensive income (loss) attributable to: Equity holders of the Parent 13.8 (16,195) (171,296) 143,405 (335,729) Non-controlling interest 13.8 (170) 3,279 1,258 (6,249) (16,365) (168,017) 144,663 (341,978) Total comprehensive income (loss) attributable to: Equity holders of the Parent 5,237,094 5,850,625 17,836,246 20,239,754 Non-controlling interest 544 822 (754) (25,384) ₱5,237,638 ₱5,851,447 ₱17,835,492 ₱20,214,370 Earnings Per Share Basic 16 ₱33.97 ₱39.29 ₱115.29 ₱135.25 Diluted 16 ₱33.81 ₱39.10 ₱114.72 ₱134.59 Cash dividends declared per common share 13.5 ₱25.00 ₱25.00 ₱75.00 ₱75.00 See accompanying Notes to Interim Condensed Consolidated Financial Statements. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . GLOBE TELECOM, INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY For the Nine-Month Period Ended September 30, 2025 (Unaudited) Notes Capital Stock (Note 13) Additional Paid-in Capital Cost of Share-Based Compensation Capital Securities (Note 13.3) Other Reserves (Note 13.8) Retained Earnings Treasury Shares (Note 13.4) Total Equity Attributable to Parent Non- controlling Interest Total (In Thousand Pesos) As of January 1, 2025 ₱9,011,592 ₱54,568,560 ₱871,722 ₱29,977,639 (₱2,269,627) ₱85,588,481 (₱10,000,000) ₱167,748,367 ₱30,862 ₱167,779,229 Total comprehensive income for the year - - - - 143,405 17,692,841 - 17,836,246 (754) 17,835,492 Dividends on Common Stock 13.5 - - - - - (10,832,934) - (10,832,934) - (10,832,934) Distribution on Capital Securities 13.3 - - - - - (664,477) - (664,477) (664,477) Share-based compensation 15.1 - - 303,800 - - - - 303,800 - 303,800 Issue of shares under share-based compensation plan 4,409 293,991 (298,400) - - - - - - - Non-controlling interest adjustment arising from increase in ownership share 1.8, 1.16 - - - - (45,474) - - (45,474) 18,864 (26,610) As of September 30, 2025 ₱9,016,001 ₱54,862,551 ₱877,122 ₱29,977,639 (₱2,171,696) ₱91,783,911 (₱10,000,000) ₱174,345,528 ₱48,972 ₱174,394,500 For the Nine-Month Period Ended September 30, 2024 (Unaudited) Notes Capital Stock (Note 13) Additional Paid-in Capital Cost of Share-Based Compensation Capital Securities (Note 13.3) Other Reserves (Note 13.8) Retained Earnings Treasury Shares (Note 13.4) Total Equity Attributable to Parent Non- controlling Interest Total (In Thousand Pesos) As of January 1, 2024 ₱9,004,030 ₱54,268,520 ₱802,701 ₱29,977,639 (₱1,333,253) ₱77,149,257 (₱10,000,000) ₱159,868,894 ₱57,844 ₱159,926,738 Total comprehensive income for the year - - - - (335,729) 20,575,483 - 20,239,754 (25,384) 20,214,370 Dividends on Common Stock 13.5 - - - - - (10,824,732) - (10,824,732) - (10,824,732) Distribution on Capital Securities (681,546) - (681,546) - (681,546) Share-based compensation 15.1 444,071 - - - - 444,071 - 444,071 Issue of shares under share-based compensation plan 7,562 300,040 (307,602) - - - - - - - As of September 30, 2024 ₱9,011,592 ₱54,568,560 ₱939,170 ₱29,977,639 (₱1,668,982) ₱86,218,462 (₱10,000,000) ₱169,046,441 ₱32,460 ₱169,078,901 See accompanying Notes to Interim Condensed Consolidated Financial Statements. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . GLOBE TELECOM, INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Nine-Month Period Ended September 30 Notes 2025 (Unaudited) 2024 (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES (Unaudited and In Thousand Pesos) Income before income tax ₱21,159,678 ₱25,399,587 Adjustments for: Depreciation and amortization 15.2 39,981,833 37,301,436 Impairment and other losses 15.4 3,137,584 2,965,028 Finance costs 15.3 12,105,366 10,511,036 Equity share in net income of joint ventures 10 (5,382,412) (3,663,759) Foreign exchange losses (gains) – net 14 (52,519) 460,143 Loss (gain) on derivative instruments –net 14 (19,469) (712,079) Pension expense 15.1 701,750 645,563 Share-based compensation 15.1 303,800 444,071 Interest income (542,365) (625,734) Gain on sale and leaseback of telecom towers - net 7 (380,717) (3,627,811) Gain on deemed sale of Investment in Mynt 10.2, 14 (2,560,357) - Gain on sale of investment 10.8, 14 (21,093) - Gain on disposal of property and equipment (130,684) (241,308) Operating income before working capital changes 68,300,395 68,856,173 Changes in operating assets and liabilities: Decrease (Increase) in: Trade receivables – net (272,433) (369,414) Inventories and supplies 981,447 1,586,288 Contract assets 295,890 350,454 Prepayments and other current assets 65,729 (2,626,482) Other noncurrent assets (765,176) 996,463 Increase (Decrease) in: Trade payables and accrued expenses (4,151,677) 1,337,387 Other long-term liabilities (56,440) (13,134) Deferred revenues 28,597 (1,512,663) Cash generated from operations 64,426,332 68,605,072 Income tax paid (3,715,028) (3,041,523) Net cash flows from operating activities 60,711,304 65,563,549 CASH FLOWS FROM INVESTING ACTIVITIES Additions to: Property and equipment 7 (31,421,641) (40,850,414) Investment in joint ventures 10 - (253,649) Intangible assets 8 (18,496) (164,018) Proceeds from sale and leaseback of telecom towers – net 7 3,177,259 27,313,807 Proceeds from sale of investment 10.8 200,595 - Interest received 457,705 566,957 Dividends received 10.2 654,500 500,500 Collection of proceeds from the transfer of subsidiary 10.2 962,500 - Cash outflow on acquisition of additional ownership share in subsidiaries 1.8, 1.16 (29,519) - Proceeds from redemption of investments 10.1 600,000 - Collections of loans receivable from related parties 476,000 - Proceeds from sale of property and equipment 344,898 1,098,163 Cash used in investing activities (24,596,199) (11,788,654) Income tax paid (307,724) (2,727,494) Net cash flows used in investing activities (24,903,923) (14,516,148) (Forward) Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . GLOBE TELECOM, INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Nine-Month Period Ended September 30 Notes 2025 2024 (Unaudited and In Thousand Pesos) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings: Long-term ₱25,000,000 ₱15,000,000 Short-term 217,000 16,305,000 Repayments of borrowings: Long-term (13,929,080) (6,393,870) Short-term (7,479,500) (34,563,000) Payments of dividends to common stockholders 13.5 (10,832,934) (10,824,732) Payments of lease liabilities 9.2 (10,921,101) (13,331,500) Distribution paid to holders of capital securities (664,477) (681,546) Interest paid (10,520,728) (10,809,592) Net cash used in financing activities (29,130,820) (45,299,240) NET INCREASE IN CASH AND CASH EQUIVALENTS 6,676,561 5,748,161 CASH AND CASH EQUIVALENTS RECLASSIFIED TO ASSETS HELD-FOR-SALE 1.15 (349,059) - NET FOREIGN EXCHANGE DIFFERENCE ON CASH AND CASH EQUIVALENTS 47,218 (137,214) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF YEAR 21,353,659 16,645,077 CASH AND CASH EQUIVALENTS AT THE END OF PERIOD ₱27,728,379 ₱22,256,024 See accompanying Notes to Interim Condensed Consolidated Financial Statements. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 8 GLOBE TELECOM, INC. AND SUBSIDIARIES NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1 Corporate Information and Basis of Financial Statement Preparation Corporate Information The interim condensed consolidated financial statements of Globe Telecom, Inc. and Subsidiaries (“Globe”) as of September 30, 2025 and December 31, 20 24, and for the nine-month period ended September 30, 2025 and 2024 were authorized for issue in accordance with a resolution of the Board of Directors (BOD) on November 6, 2025. 1.1 Globe Telecom, Inc. Globe Telecom, Inc. (hereafter referred to as “Globe Telecom” or The “Parent Comp any”) is a stock corporation organized under the laws of the Philippines on January 16, 1935, and enfranchised under Republic Act (RA) No. 7229 and its related laws to render any and all types of domestic and international telecommunications services. Glo be Telecom is one of the leading providers of digital wireless communications services in the Philippines under the Globe Postpaid and Prepaid (including fully Mobile, internet-on-the-go service and GOMO), and Touch Mobile (TM) using a fully digital networ k. It also offers domestic and international long distance communication services or carrier services. Globe Telecom’s head office is located at The Globe Tower, 32nd Street corner 7th Avenue, Bonifacio Global City, Taguig, Metropolitan Manila, Philippines. Globe Telecom is listed in the Philippine Stock Exchange (PSE) and has been included in the PSE composite index since September 17, 2001. Major stockholders of Globe Telecom include Ayala Corporation (AC), Singapore Telecom International Pte Ltd. (Singtel) and Asiacom Philippines, Inc. None of these companies exercise control over Globe Telecom. 1.2 Innove Communications, Inc. (Innove) Globe Telecom owns 100% of Innove, a stock corporation organized under the laws of the Philippines and enfranchised under RA No. 11151 and its related laws to render any and all types of domestic and international telecommunications services. Innove holds a license to provide digital wireless communication services in the Philippines. Innove also has a license to establish, install, operate and maintain a nationwide local exchange carrier (LEC) service, particularly integrated local telephone service with public payphone facilities and public calling stations, and to render and provide international and domestic carrier and leased line services. On November 2, 2015, Innove and Techzone Philippines incorporated TechGlobal Data Center, Inc. (TechGlobal), a joint venture company formed for the purpose of operating and managing all kinds of data centers, and providing information technology-enabled, knowledge-based and computer-enabled support services. Innove and Techzone hold ownership interest of 49% and 51%, respectively. TechGlobal started commercial operations in August 2017. 1.3 GTI Business Holdings, Inc. (GTI) and Subsidiaries Globe Telecom owns 100% of GTI. GTI was incorporated and registered under the laws of the Philippines, on November 25, 2008, as a holding company. 1.4 GTI Corporation (GTIC) In July 2009, GTI incorporated a wholly owned subsidiary, GTIC, a company organized under the General Corporation Law of the United States of America, State of Delaware as a wireless and data communication services provider. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 9 1.5 Globe Telecom HK Limited (GTHK) In December 2011, GTI incorporated a wholly owned subsidiary, GTHK, a limited co mpany organized under the Companies Ordinance of Hong Kong as a marketing and distribution company. On March 17, 2015, GTHK applied for a services -based operator license (SBO) with the Office of the Communications Authority in Hong Kong (OFCA) which was subsequently approved on May 7, 2015. As of June 1, 2020, the SBO was cancelled and surrendered to the OFCA and GTHK has been winding down its operations. GTHK was previously engaged in the marketing and selling of telecommunication products and services in the international market, except the United States of America and the Philippines, under a distributor arrangement. On March 27, 2024, the director resolved and signed a written resolution with the purpose of placing GTHK into liquidation. As of the repor ting date, the completion of the regulatory requirements on the liquidation of GTHK is still in process. 1.6 Globetel European Limited (GTEU) and Subsidiaries On May 10, 2013, GTI incorporated a wholly owned subsidiary, GTEU as holding company for the operating companies of Globe located in the United Kingdom, Spain and Italy. 1.7 Globetel Singapore Pte. Ltd. (GTSG) On November 12, 2014, GTI incorporated GTSG, a wholly owned subsidiary, for the purpose of offering full range of international data services in Singap ore under a facilities-based operations license with Infocomm Media and Development Authority (IMDA) in Singapore which was granted on January 7, 2015. 1.8 CaelumPacific Corp.(CaelumPacific) and Subsidiaries On July 30, 2020, GTI incorporated CaelumPacific, a wholly owned subsidiary organized under the laws of the Philippines for the purpose of providing technical consulting and IT related services. On July 31, 2020, Caelum US Holdings Inc. (Caelum US), a wholly owned subsidiary of CaelumPacific, was incorporated under the laws of the state of Delaware as holding company. On August 3, 2020, Caelum Northwest Corp. (Caelum Northwest), a wholly owned subsidiary of Caelum US, was incorporated under the laws of the state of Washington for the purpose of customized cloud software development and providing cloud consulting services. On November 3, 2020, the definitive agreements between Caelum Group and Cascadeo have been signed and executed following the completion of all relevant conditions relating to the sale of a ssets of Cascadeo in the Philippines and the US. Cascadeo is a group of companies in the Philippines and US which offers cloud -native consulting and managed services capabilities for enterprises and small and medium business customers. The asset purchase agreement entered into by Caelum Group and Cascadeo entities also mandated a holding company established by the sellers to invest in 16.67% of CaelumPacific’s capital, effectively reducing GTIBH’s ownership to 83.33%. On May 30, 2021, the Board of Director s approved GTIBH’s additional capital infusion amounting to $500,000, effectively increasing GTIBH’s ownership to 85% On February 11, 2022, the Board of Directors approved GTIBH’s additional capital infusion amounting to $2.00 million, which further increased GTIBH’s ownership to 88%. On December 15, 2022, the ownership of CaelumPacific and Subsidiaries was transferred from GTI to Yondu, Inc., a wholly-owned subsidiary of Globe Telecom. On March 7, 2024, the director of Caelum Northwest and Caelum US approved the dissolution of the Company. Subsequently, on July 29, 2024, the Department of Revenue State of Washington issued a Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 10 revenue clearance certificate, allowing the companies to proceed with its dissolution. As of the reporting date, regulatory requirements for the dissolution of both companies are still subject to completion. On October 28, 2024, the ownership of CaelumPacific and Subsidiaries was transferred from Yondu, Inc. to GTI, a wholly-owned subsidiary of Globe Telecom. On February 6, 2025, GTI and Cirrus Mountain Investments (Cirrus) signed a deed of assignment for the latter’s transfer of its 51 million shares in CaelumPacific to GTI for a total consideration of $0.39 million (₱22.55 million). The excess of consideration over the carrying amoun t of the non-controlling interest was recognized under equity reserves amounting to ₱40.89 million (see Note 13.8 ). The acquisition increased GTI’s ownership to 100%. On May 30, 2025, the CaelumPacific’s Board of Directors (BOD) and Shareholders approved r esolutions of shortening the Company’s corporate term to end on July 30, 2027 and subsequent closure. 1.9 Kickstart Ventures, Inc. (Kickstart) and Subsidiaries On March 28, 2012, Globe Telecom incorporated Kickstart, a stock corporation organized under the laws of the Philippines and formed primarily for the purpose of investing in individual, corporate, or start -up businesses, and to do research, technology development and commercializing of new business ventures. In February 2014, Kickstart acquired 40% equity interest in Flipside Publishing Services, Inc. (FPSI). Since Kickstart was able to demonstrate control over FPSI despite having less than 50% ownership interest, FPSI was assessed to be a subsidiary of Kickstart and is included in the consolidation of Globe. FPSI is engaged in acquiring publishing rights to produce, publish, market, and sell printed and electronic books (e-books) and other electronic documents and content for international and domestic sales. FPSI ceased operations in July 2016. FPSI remains a dormant company as of reporting date. In February 2020, Kickstart registered three Cayman Islands exempted companies with limited liabilities, namely (1) Kickstart Capital Co. Ltd. (KCCL), a wholly owned subsidiary of Kickstart; (2) AG Active Associated I, Limted, a wholly owned subsidiary of KCCL; and, (3) Kickstart Ventures Co. Ltd., a 65% owned subsidiary of KCCL. These entities were formed as a platform for the management of third party venture capital investment funds. On December 15, 2023, KCC L incorporated its wholly -owned subsidiary, Kickstart Holdings Company, Ltd., (KHCL) for future offshore venture capital investments. 1.10 Asticom Holding Co. Inc., (Asticom, formerly known as Asticom Technology, Inc.) and Subsidiaries On June 3, 2014, Globe Te lecom signed an agreement with Azalea Technology Investments Inc. (ASTI) and SCS Computer Systems, Pte. Ltd. acquiring 100% ownership stake in Asticom. Asticom is primarily engaged in providing business process and shared service support, as well as IT system integration and consultancy services. On August 20, 2020, Asticom incorporated its wholly owned subsidiary, Asticom Business Services, Inc. (ABSI). ABSI was incorporated to leverage Asticom's business growth, particularly its full -BPO services offering. On January 26, 2021, Asticom incorporated its wholly owned subsidiary, Fiber Infrastructure and Network Services Inc . ( FINSI). FINSI was incorporated to provide end -to-end services and industry -specific solutions to telecommunications and telecommunica tions-related companies. In March 2021, FINSI started its commercial operation. On April 12, 2021, Asticom incorporated its wholly owned subsidiary, BRAD Warehouse and Logistics Services Inc. (BRAD). BRAD was incorporated to engage in the business of tra nsporting, shipping, receiving, storing and managing products and services using technology platforms for third -party providers. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 11 On November 29 , 2021, ABSI acquired 100% of HCX Technology Partners, Inc. , a full-fledged systems integration company offering human capital, customer relationship management and digital solutions to its clients. On July 27, 2022 , Asticom incorporated its wholly owned subsidiary, Acquiro Solutions and Tech Inc . (ACQR) to provide manpower services for support and shared services of administrative functions, information technology including consultancy services for offshore development services and other related services. On June 14, 2024, SEC approved the amendment of Asticom’s article of incorporation which effectively change its corporate name to Asticom Holding Co. Inc., as well as its primary purpose as an investing and holding company. 1.11 Globe Capital Venture Holdings Inc. (GCVHI) and Subsidiaries On June 29, 2015, Globe Telecom incorporated its wholly owned subsidiary, GCVHI as an investing and holding company primarily engaged in purchasing, subscribing, owning, holding, assigning real and personal property, shares of stock and other securities . In August 2019, GCVHI was rebranded to “917 Ventures” and will house Globe Telecom’s non-telco incubated products. On October 13, 2015, GCVHI incorporated its wholly owned subsidiary Adspark Holdings, Inc. (AHI), a holding company established for the acquisition of additional investment in Globe Telecom’s non -core business. AHI holds 100% of Adspark Inc. (AI), an advertising company. AI holds 100% of Socialytics Inc. (Socialytics), a social media marketing firm. On September 1, 2 021, AHI acquired 100% of Techgroowers, Inc., a company engaged in data and software-related services through the utilization of telecommunications facilities. On March 22, 2022, the SEC approved the amendment of Techgroowers’ articles of incorporation which effectively changes its corporate name to M360, Inc., as well as its primary purpose which is to engage in the business of application-to-person (A2P) messaging. On February 4, 2020, GCVHI incorporated 917Ventures, Inc. as a holding company for GCVHI’s business incubators. On December 1, 2022, AHI acquired 49% and 51% of outstanding shares of Inquiro from 9 17Ventures, Inc. and Jerusalem Ventures Holdings Inc . (JVHI), respectively. The acquisition increased Globe’s ownership interest from 49% to 100% and was accounted for as an acquisition of a subsidiary. Inquiro was incorporated to provide data management and other data-related services, through the utilization of telecommunication facilities. On February 14 , 2023 , the SEC approved the amendment of AHI’s articles of incorporation which effectively change its corporate name to Brave Connective Holdings, Inc. (BCHI). On June 5, 2023, 917Ventures, Inc. incorporated its wholly owned subsidiary Slyce Digital, Inc. to engage in the business of developing, marketing, advertising, managing, and operating technology platforms . 1.12 Bayan Telecommunications Inc. (BTI) and Subsidiaries Globe Telecom owns 99% of BTI, a stock corporation organized under the laws of the Philippines and enfranchised under RA No. 11503 and its related laws to render domestic and international telecommunications services . BTI is a facilities -based provider of data services and fixed -line telecommunications. BTI’s subsidiaries are: Radio Communications of the Philippines, Inc. (RCPI), Telecoms Infrastructure Corp. of the Philippines (Telicphil), Sky Internet, Incorporated (Sky Internet), GlobeTel J apan (formerly BTI Global Communications Japan, Inc.), and NDTN Land, Inc. (NLI), (herein collectively referred to as “BTI Group”). Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 12 1.13 TaoDharma Inc. (Tao) Globe Telecom owns 67% of Tao, an entity incorporated and registered under the laws of the Philippines. Tao operates and maintains retail stores in strategic locations within the Philippines that sells telecommunications or internet-related services, and devices, gadgets and accessories. 1.14 GTowers Inc (GTowers) On August 17, 2018, GTowers was incorporated as a wholly owned subsidiary of Globe Telecom. GTowers is still under pre-operating stage as of reporting date. 1.15 Yondu, Inc. and a Subsidiaries Yondu, a wholly owned subsidiary of Globe Telecom, is engaged in the development and creation of wireless products and services accessible through mobile devices or other forms of communication devices. It also provides internet and mobile value-added services, information technology and technical services including software development and related services. Yondu is registered with the Department of Transportation and Communication (DOTC) as a content provider. Yondu holds 100% of Rocket Search, Inc. (formerly Yondu Software Labs, Inc.), a company primarily engaged in providing information technology (IT) products a nd services and engaged in IT placement services. On December 15, 2022, Yondu acquired the ownership of Third Pillar Business Applications, Inc. (TPBAI) and Subsidiaries and CaelumPacific and Subsidiaries from GTI, a wholly -owned subsidiary of Globe Telecom. On October 28, 2024, the ownership of CaelumPacific and Subsidiaries was transferred from Yondu, Inc. to GTI, a wholly-owned subsidiary of Globe Telecom. On March 26, 2025, Globe Telecom entered into an agreement with NCSI Holdings Pte. Ltd (NCSI) to hold 51% ownership in Globe’s subsidiary, Yondu, as well as Yondu’s acquisition of NCSI Philippines (NCS PH), making NCS PH a fully owned subsidiary of Yondu. Upon closing, Globe will retain 49% ownership in Yondu and NCS PH. Consequently, Yondu’s assets and liabilities with net book value ₱1,737.81 million (including cash and cash equivalents of ₱349.06 million, see Note 3 ) and ₱552.05 million, were reclassified as assets held-for-sale and liabilities held-for-sale, respectively, in G lobe’s consolidated statements of financial position as of September 30, 2025. Yondu, while a distinct Cash Generating Unit, is not part of Globe's major lines of business. Consequently, it’s operational results will continue to be reported as part of Globe’s continuing operations in the consolidated statements of comprehensive income until the transaction’s closing date. As of September 30, 2025 , the closing of the transaction and actual transfer of ownership are still in progress. 1.16 Third Pillar Business Applications, Inc. (TPBAI) and Subsidiaries On August 17, 2020, GTI entered into a Share Purchase Agreement for the acq uisition of 67% of TPBAI. TPBAI, a corporation organized under the laws of the Philippines, is engaged in systems integration, license reselling, and data management services. Third Pillar Global Delivery Center Inc. (TPGDC) is a wholly owned subsidiary of TBAI that is engaged in software implementation and maintenance services and the outsourcing arm of TPBAI. On January 1, 2022, TPBAI incorporated Third Pillar Asia Pacific Pte. Ltd. (TPAPPL) , a wholly owned subsidiary organized under the laws of Singapore, as part of TPBAI’s expansion to Asia Pacific. On December 15, 2022, the ownership of TPBAI and Subsidiaries was transferred from GTI to Yondu, Inc., a wholly-owned subsidiary of Globe Telecom. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 13 On July 8, 2024, the Board of Directors approved Yondu’s additional capital infusion amounting to ₱20.00 million, which further increased Yondu’s ownership to 85%. In April 2025, Yondu and Third Pillar’s minority shareholders signed a deed of assignment to transfer the latter’s shares to Yondu for a total consideration of ₱6.80 million. The excess of consideration over the carrying amount of the non -controlling interest was recognized under equity reserves amounting to ₱4.58 million (see Note 13.8). The acquisition increased Yondu’s ownership in Third Pillar to 100%. 1.17 Electronic Commerce Payments, Inc. (ECPay) On October 25, 2019, Globe Telecom acquired 77% ownership of ECPay. ECPay is primarily engaged in the business of providing IT and e-commerce solutions, including, but not limited to, prepaid phone and internet products, bills payments and others. On September 29, 2023, Globe Telecom entered into a Share Purchase Agreement with Mynt for the sale of Globe’s 77% investment in ECPay for a total consideration of ₱2,310.00 million. Thereafter, Globe Telecom ceased to consolidate ECPay as certain terms and conditions in the Share Purchase Agreement constrained Globe’s ability to exercise control over ECPay’s relevant activities, including its exposures and rights to variable returns. At the date of deconsolidation, the fair value of Globe’s interest in ECPay was reclassified to Assets classified as held -for-sale under the current assets sections in Globe’s consolidated statement of financial position. The resultin g gain, amounting to ₱76.67 million was recognized in the consolidated statements of comprehensive income in 2023. The closing of the transaction and actual transfer of ownership was subjected to review by the PCC. On May 14, 2025, PCC issued a certification allowing the transaction to proceed, subject to strict compliance by ECPay and Mynt of their voluntary commitments. On August 5, 2025, the closing of the transaction and transfer of ownership were completed. Basis of Preparation and Presentation The interim condensed consol idated financial statements have been prepared in accordance with the Philippine Accounting Standard (PAS) 34 - Interim Financial Reporting. Accordingly, the interim condensed consolidated financial statements do not include all of the information required in the annual audited financial statements, and should be read in conjunction with Globe’s annual financial statements as at and for the year ended December 31, 202 4. The preparation of the financial statements in compliance with the Philippine Financial Reporting Standards (PFRS) Accounting Standards requires management to make estimates and assumptions that affect the amounts reported in the financial stat ements and accompanying notes. The accompanying interim condensed consolidated financial statements have been prepared under the historical cost convention method, except for: certain financial instruments carried at fair value certain financial instruments and lease liabilities carried at amortized cost; inventories carried at net realizable value; investments in joint ventures in which equity method of accounting is applied; retirement benefit obligation measured at the present value of the defined benefit obligation net of the fair value of the plan assets The interim condensed consolidated financial statements of Globe are presented in Philippine Peso (₱), which is Globe Telecom’s functional currency, and rounded to the nearest thousands, except when otherwise indicated. The estimates and assumptions used in the accompanying interim condensed conso lidated financial statements are consistent with those followed in the preparation of Globe’s consolidated financial statements as at and for th e year ended December 31, 20 24, and are based upon management’s Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 14 evaluation of relevant facts and circumstances a s at the date of the interim condensed consolidated financial statements. Actual results could differ from such estimates. 2 Adoption of New and Revised Accounting Standards The accounting policies adopted in the preparation and presentation of the interim c ondensed consolidated financial statements are consistent with prior years, except for the effects of the adoption of new and revised accounting standards set out below. 2.1 Adoption of New and Revised Standards Effective January 1, 2025 In the current year, Globe has applied a number of amendments to PFRS Accounting Standards and interpretation issued by IASB that are effective for annual period that begins on January 1, 202 5. The adoption has not had any material impact on the disclosures or on the amounts re ported in the consolidated financial statements. 2.1.1 Amendments to PAS 21 The Effects of Changes in Foreign Exchange Rates titled Lack of Exchangeability The amendments specify how to assess whether a currency is exchangeable, and how to determine the exchange rate when it is not. The amendments state that a currency is exchangeable into another currency when an entity is able to obtain the other currency within a time frame that allows for a normal administrative delay and through a market or exchange mechanism in which an exchange transaction would create enforceable rights and obligations. An entity assesses whether a currency is exchangeable into another currency at a measurement date and for a specified purpose. If an entity is able to obtain no more than an insignificant amount of the other currency at the measurement date for the specified purpose, the currency is not exchangeable into the other currency. The assessment of whether a currency is exchangeable into another currency depends on an entity’s ability to obtain the other currency and not on its intention or decision to do so. When a currency is not exchangeable into another currency at a measurement date, an entity is required to estimate the spot exchange rate at that date. An entity’s objective in estimating the spot exchange rate is to reflect the rate at which an orderly exchange transaction would take place at the measurement date between market participants under prevailing economic conditions. The amendments do not specify how an entity estimates the spot exchange rate to meet that objective. An entity can use an observable exchange rate without adjustment or another estimation technique. Examples of an observable exchange rate include: A spot exchange rate for a purpose other than that for which an entity assesses exchangeability The first exchange rate at which an entity is able to obtain the other currency for the specified purpose after exchangeability of the currency is restored (first subsequent exchange rate). An entity using another e stimation technique may use any observable exchange rate —including rates from exchange transactions in markets or exchange mechanisms that do not create enforceable rights and obligations—and adjust that rate, as necessary, to meet the objective as set out above. When an entity estimates a spot exchange rate because a currency is not exchangeable into another currency, the entity is required to disclose information that enables users of its financial statements to understand how the currency not being excha ngeable into the other currency affects, or is expected to affect, th e entity’s financial performance, financial position and cash flows. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 15 The amendments are effective for annual reporting periods beginning on or after January 1, 2025, with earlier applica tion permitted. An entity is not permitted to apply the amendments retrospectively. Instead, an entity is required to apply the specific transition provisions included in the amendments. 3 Cash and Cash Equivalents The cash and cash equivalents account consi sts of the following : September 30 December 31 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Cash on hand and in banks ₱8,511,034 ₱6,651,217 Cash equivalents 19,217,345 14,702,442 ₱27,728,379 ₱21,353,659 Globe’s cash equivalents consist of short-term, highly liquid time deposit placements. Short-term money market placements are highly liquid investments that are readily convertible to known amounts of cash which are subject to an insignificant risk of changes in value. Globe classifies an investment as short-term money market placements if that investment has a maturity of three months of less from the date of acquisition. Assets held for sale in Globe’s consolidated statement of financial position includes cash and cash equivalents of Yondu amounting to ₱349.06 million as of September 30, 2025 (See Note 1.15). Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 16 4 Trade Receivables – net The account consists of the following: Impairment loss on trade receivables amounted to ₱599.13 million and ₱637.61 million for th e three- month period and ₱2,160.44 million and ₱2,291.04 million for the nine-month period ended September 30, 2025 and 2024, respectively (see Note 15.4). September 30 December 31 Note 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Subscribers receivables ₱19,055,401 ₱21,274,625 Traffic settlements – net 20.1 905,551 907,175 Dealers 358,662 640,035 Others 5,062,462 4,848,388 25,382,076 27,670,223 Less allowance for impairment losses: Subscribers 7,036,609 7,216,550 Traffic settlements and others 796,493 793,205 7,833,102 8,009,755 ₱17,548,974 ₱19,660,468 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 17 Globe analyzes its subscribers’ receivables and contract assets based on internal credit rating. The following table shows the analysis of Globe’s subscribers’ receivables and contract assets. September 30, 2025 High Quality Medium Quality Low Quality Terminated Accounts Total (In Thousand Pesos) Wireless subscribers receivables: Consumer ₱5,307,277 ₱783,296 ₱561,426 ₱846,351 ₱7,498,350 Key corporate accounts 65,542 76,737 14,268 472,704 629,251 Other corporations and SME 322,414 71,759 4,368 125,873 524,414 5,695,233 931,792 580,062 1,444,928 8,652,015 Wireline subscribers receivables: Consumer 528,672 369,904 443,821 2,484,482 3,826,879 Key corporate accounts 711,257 1,614,977 375,142 3,178,127 5,879,503 Other corporations and SME 126,954 112,317 47,044 410,689 697,004 1,366,883 2,097,198 866,007 6,073,298 10,403,386 Total subscribers' receivables 7,062,116 3,028,990 1,446,069 7,518,226 19,055,401 Wireless contract assets Consumer 3,173,625 452,406 156,329 34,136 3,816,496 Key corporate accounts 185,736 185,770 7,236 3,918 382,660 Other corporations and SME 384,494 56,748 4,450 3,806 449,498 3,743,855 694,924 168,015 41,860 4,648,654 Total subscribers' receivables and contracts assets ₱10,805,971 ₱3,723,914 ₱1,614,084 ₱7,560,086 ₱23,704,055 December 31, 2024 High Quality Medium Quality Low Quality Terminated Accounts Total (In Thousand Pesos) Wireless subscribers receivables: Consumer ₱5,821,415 ₱909,916 ₱572,368 ₱1,234,782 ₱8,538,481 Key corporate accounts 219,116 355,126 37,371 590,687 1,202,300 Other corporations and SMEs 418,238 81,057 3,610 163,083 665,988 6,458,769 1,346,099 613,349 1,988,552 10,406,769 Wireline subscribers receivables: Consumer 534,435 426,520 410,650 3,129,164 4,500,769 Key corporate accounts 989,395 1,289,003 373,872 3,024,787 5,677,057 Other corporations and SMEs 135,198 127,724 50,975 376,133 690,030 1,659,028 1,843,247 835,497 6,530,084 10,867,856 Total subscribers' receivables 8,117,797 3,189,346 1,448,846 8,518,636 21,274,625 Wireless contract assets Consumer 3,795,410 541,042 186,957 40,824 4,564,233 Key corporate accounts 230,832 230,875 8,992 4,870 475,569 Other corporations and SMEs 344,857 50,897 3,991 3,414 403,159 4,371,099 822,814 199,940 49,108 5,442,961 Total subscribers' receivables and contracts assets ₱12,488,896 ₱4,012,160 ₱1,648,786 ₱8,567,744 ₱26,717,586 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 18 Globe’s credit risk rating comprises the following categories: High quality accounts are accounts considered to be of good quality, have consistently exhibited good paying habits, and are unlikely to miss payments. High quality accounts primarily include strong corporate and consumer accounts with whom Globe has excellent payment experience. Medium quality accounts are accounts that exhibited good paying habits but may require minimal monitoring with the objective of moving accounts to high quality rating. Medium quality accounts primarily include subscribers whose creditworthiness can be moderately affected by adverse changes in economic and financial conditions, but will not necessarily, reduce the ability of the subscriber to fulfill its obligations. It includes customers with whom Globe has limited expe rience and therefore, creditworthiness needs to be further established over time. Low quality accounts are accounts which exhibit characteristics that are identified to have increased likelihood to miss payments. Low quality accounts are subject to closer monitoring and scrutiny with the objective of managing risk and moving accounts to improved rating category. It primarily includes mass consumer, corporate and SME customers whose creditworthiness are easily affected by adverse changes in economic and fina ncial conditions . Terminated accounts are accounts in cancelled status. Although there is a possibility that terminated accounts may still be collected by exhausting collection efforts, the probability of recovery has significantly deteriorated. 5 Contracts with Customers 5.1 Contract Assets – net Movements in the contract assets - net for the periods are as follows: Three – Month Period Ended September 30 Nine – Month Period Ended September 30 Note 2025 2024 2025 2024 (Unaudited and in Thousand Pesos) Contract assets Balance at beginning of the period ₱4,959,127 ₱5,664,545 ₱5,442,961 ₱6,223,595 Additions during the period 1,126,050 1,381,392 3,794,010 4,242,641 Billed to subscribers during the period (1,280,835) (1,486,276) (4,089,900) (4,593,095) Impairment loss 15.4 (155,688) (180,211) (498,417) (493,691) Contract assets – net, September 30 ₱4,648,654 ₱5,379,450 ₱4,648,654 ₱5,379,450 Contract assets as of December 31, 2024 amounted to ₱5,442,961 Globe provides wi reless communication services to subscribers which are bundled with sale of handsets and other devices. Globe allocates the revenue based on the stand - alone selling price of each performance obligation. Contract assets are recognized for the unbilled por tion of revenue allocated to the sale of handset and other devices which will be reduced as the monthly service fees are billed to the subscribers. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 19 5.2 Deferred Revenues The following table provides information about the contract liabilities and other deferr ed revenues: September 30 December 31 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Advance monthly service fees ₱3,798,325 ₱3,924,745 Deferred revenue from wireless subscribers under prepaid arrangements 2,700,911 2,655,614 Deferred revenue rewards 26,842 58,148 Others 75,309 56,098 ₱6,601,387 ₱6,694,605 Less current portion 6,154,151 6,049,750 Non-current portion ₱447,236 ₱644,855 Advance monthly service fees represent advance billings to postpaid subscribers arising from contracts. Deferred revenues from wireless subscribers under prepaid arrangements are recognized as revenues upon actual usage of airtime value, consumption of prepaid subscription fees or upon expiration of the unused load value prepaid credit. Deferred revenue rewards represent unredeemed customer award credit under customer loyalty program. Deferred revenues from wireless subscribers under prepaid arrangements, deferred revenue rewards and advance monthly service fees are recognized as revenues within 12 months. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 20 6 Prepayments and Other Assets 6.1 Prepayments and other assets - net This account consists of: September 30 December 31 Note 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Advance payments to suppliers and contractors 20.2 ₱13,499,755 ₱12,172,430 Input VAT – net 6,371,121 6,672,173 Prepayments 6,550,724 5,525,460 Investment property 5,617,670 5,620,496 Investment in debt and equity securities 4,214,450 4,083,797 Non-trade receivables – net 6.2 3,798,411 3,324,995 Security deposits 1,856,981 1,579,260 Creditable withholding tax 1,150,807 1,155,326 Loans receivable from related parties 3,287,935 3,763,935 Deferred contract costs 6.3 449,020 551,231 Others 3,005,742 2,846,331 49,802,616 47,295,434 Less current portion 23,817,192 19,970,116 Net of current portion ₱25,985,424 ₱27,325,318 Investment properties consist of land and building which are held to earn rentals and for capital appreciation. Depreciation and amortization of investment properties amounted to ₱0.95 million and ₱2.83 million for the three-month and nine-month period ended September 30, 2025, ₱0.94 million and ₱2.83 million for the three-month and nine-month period ended September 30 2024, respectively (see Note 15.2). The “Prepayments” account includes prepaid insur ance, rent, maintenance, and licenses fee among others. Fair value gain (loss) from investment in equity securities recognized in consolidated OCI amounted to ₱21.34 million and ₱167.01 million for the nine-month period ended September 30, 2025 and 2024, respectively (see Note 13.8). Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 21 6.2 Non-trade receivables – net Non-trade receivables – net consists of: - September 30 December 31 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Due from related parties ₱1,812,286 ₱1,170,419 Advances to employees 264,326 186,986 Others 1,739,449 1,981,303 3,816,061 3,338,708 Allowance for impairment loss (17,650) (13,713) ₱3,798,411 ₱3,324,995 6.3 Deferred Contract Costs Deferred contract costs pertain to incremental costs incurred in the effort to obtain and fulfill the contract with subscribers. Details are as follows: September 30 December 31 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Cost to obtain contracts with customers: Commissions ₱237,776 ₱352,079 Cost to fulfill contracts with customers Installation costs 211,244 199,152 ₱449,020 ₱551,231 Deferred contract costs are capitalized and subsequently amortized on a straight-line basis over the term of the subscription contract. Movements in the deferred contract costs for the period are as follows: Three – Month Period Ended September 30 Nine – Month Period Ended September 30 2025 2024 2025 2024 (Unaudited and in Thousand Pesos) Balance at beginning of the period ₱392,474 ₱1,355,317 ₱551,231 ₱1,676,459 Amounts capitalized during the period 314,491 202,681 943,060 1,039,785 Amounts recognized as expense (257,945) (501,474) (1,045,271) (1,659,720) Balance at end of period ₱449,020 ₱1,056,524 ₱449,020 ₱1,056,524 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 22 7 Property and Equipment – net The rollforward analysis of this account follows: September 30, 2025 Telecommunication Equipment Buildings, Land and Leasehold Improvement Cable System Office Equipment Transportation Equipment Assets Under Construction Total (Unaudited and In Thousand Pesos) Cost At January 1, 2025 ₱500,769,712 ₱68,807,089 ₱24,426,606 ₱17,569,441 ₱4,665,079 ₱95,533,175 ₱711,771,102 Additions 2,009,009 97,760 - 164,446 354,054 36,060,717 38,685,986 Retirements/disposals (770,383) (2,347) - (122,761) (291,833) (24,770) (1,212,094) Reclassifications and transfers (Note 8) 40,786,463 1,687,141 (198) 216,604 12,201 (46,107,071) (3,404,860) Adjustment from subsidiary reclassified to assets- held-for-sale (Note 1.15) - (41,398) - (100,876) - (28,947) (171,221) Others 12,303 - 49,458 346 - 843 62,950 At September 30, 2025 542,807,104 70,548,245 24,475,866 17,727,200 4,739,501 85,433,947 745,731,863 Accumulated Depreciation and Amortization At January 1, 2025 288,013,284 29,318,012 18,358,690 16,434,144 3,366,559 - 355,490,689 Depreciation and amortization (Note 15.2) 23,405,816 2,189,130 594,251 460,647 377,476 - 27,027,320 Retirements/disposals (357,722) (2,347) - (117,893) (232,836) - (710,798) Reclassifications and transfers (Note 8) (27,190) (29,371) 3,089 (701) - - (54,173) Adjustment from subsidiary reclassified to assets- held-for-sale (Note 1.15) - (28,805) - (55,141) - - (83,946) Others 774 - 28,729 1,649 - - 31,152 At September 30, 2025 311,034,962 31,446,619 18,984,759 16,722,705 3,511,199 - 381,700,244 Accumulated Impairment Losses At January 1, 2025 4,119,550 43,591 - 128 - 2,043 4,165,312 Write-off (56,725) - - - - - (56,725) At September 30, 2025 4,062,825 43,591 - 128 - 2,043 4,108,587 Carrying amount at September 30, 2025 ₱227,709,317 ₱39,058,035 ₱5,491,107 ₱1,004,367 ₱1,228,302 ₱85,431,904 ₱359,923,032 Carrying amount at December 31, 2024 ₱208,636,878 ₱39,445,486 ₱6,067,916 ₱1,135,166 ₱1,298,520 ₱95,531,132 ₱352,115,098 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L . 23 September 30, 2024 Telecommunication Equipment Buildings, Land and Leasehold Improvement Cable System Office Equipment Transportation Equipment Assets Under Construction Total (Unaudited and In Thousand Pesos) Cost At January 1, 2024 ₱444,716,637 ₱66,178,280 ₱25,078,243 ₱17,161,554 ₱4,854,430 ₱104,824,628 ₱662,813,772 Additions 1,662,146 232,976 588,814 77,343 355,092 40,954,181 43,870,552 Retirements/disposals (2,991,265) (587,612) (915,873) (173,988) (354,151) (47,307) (5,070,196) Reclassifications and transfers (Notes 8 and 9) 46,017,970 2,304,526 (506,940) 254,774 6,322 (49,104,105) (1,027,453) Others 11,146 - 74,305 50 - 1,482 86,983 At September 30, 2024 489,416,634 68,128,170 24,318,549 17,319,733 4,861,693 96,628,879 700,673,658 Accumulated Depreciation and Amortization At January 1, 2024 259,939,230 26,318,666 17,764,034 15,622,564 3,352,690 - 322,997,184 Depreciation and amortization (Note 15.2) 21,958,876 2,126,825 698,870 753,810 426,814 - 25,965,195 Retirement/disposals (1,759,808) (410,689) (332,680) (150,295) (298,767) - (2,952,239) Reclassifications and transfers (Notes 8 and 9) 695,119 481,486 (65,356) 6,677 - - 1,117,926 Others 7,955 - 45,083 119 - - 53,157 At September 30, 2024 280,841,372 28,516,288 18,109,951 16,232,875 3,480,737 - 347,181,223 Accumulated Impairment Losses At January 1, 2024 5,298,174 106,409 - 3,352 - - 5,407,935 Write-off (579,199) - - - - - (579,199) At September 30, 2024 4,718,975 106,409 - 3,352 - - 4,828,736 Carrying amount at September 30, 2024 ₱203,856,287 ₱39,505,473 ₱6,208,598 ₱1,083,506 ₱1,380,956 ₱96,628,879 ₱348,663,699 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 24 Assets under construction include intangible components of a network system and indefeasible right of use (IRU) which are reclassified to intangible assets and right of use assets, respectively and subject to amortization when the assets become available for use (see Note 8 and 9). As of September 30, 2025 and 2024, assets under construction reclassified to intangible assets and rights of use assets amounted to ₱3,174.90 million and ₱3,640.25 million, respectively. Investments in cable systems include the cost of Globe’s ownership share in the capacity of certain cable systems under a joint undertaking or a consortium or private cable set -up. It also includes th e cost of cable landing station and transmission facilities where Globe is the landing party. Globe uses its borrowed funds to finance construction of network assets and bring it to its intended location and working conditions. Borrowing costs inc urred rel ating to these qualifying assets were included in the cost of property and equipment using 5.28% and 5.45% capitalization rates for the nine- month period ended September 30, 2025 and 20 24, respectively. Globe’s total capitalized borrowing costs amounted t o ₱4,255.77 million and ₱4,961.93 million for the nine-month period ended September 30, 2025 and 2024, respectively (see Note 12). The reconciliation of total additions to property and equipment and actual cash flows from acquisition of property and equipment are shown below: For the Nine-Month Period Ended September 30 2025 2024 (Unaudited and In Thousand Pesos) Additions to property and equipment ₱38,685,986 ₱43,870,552 Effect of movements in liabilities and prepayments (3,008,577) 1,941,795 Capitalized interest (4,255,768) (4,961,933) Cash flows from acquisition of property and equipment ₱31,421,641 ₱40,850,414 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 25 Sale and Leaseback of Telecom Towers In 2022 and 2023, Globe signed sale and leaseback agreements with four tower companies consisting of 7,506 telecom towers and related passive telecom infrastructure. The closing of the agreements will be on a staggered basis depending on the satisfaction of closing conditions, according to th e number of towers transferred. Information on Globe’s sale of telecom towers were as follows: Three – Month Period Ended September 30 Nine – Month Period Ended September 30 2025 2024 2025 2024 (Unaudited and in Thousand Pesos) Telecom towers sold 96 1,037 273 2,161 Cash consideration net of direct costs ₱1,175,112 ₱13,074,397 ₱3,177,259 ₱27,313,807 Gain on sale on leaseback of telecom towers - net 80,134 140,596 380,717 3,627,811 The leaseback arrangements for those telecom towers sold took effect at the date of sale . The gain recognized from the sale and leaseback transaction represents only the amount relating to the rights in the underlying assets that were transferred to the buyer -lessor after considering the lease liabilities recognized from the leaseback (see Note 9). As of September 30, 2025, Globe completed the sale of 6,945 telecom towers representing 93% of the total towers portfolio subject to sale. As of September 30, 2025 and December 31, 202 4, property and equipment with net book value of ₱3,041.42 million and ₱4,520.41 million, respectively, were continued to be classified as assets-held-for-sale as Globe remains committed to its plan to sell the telecom towers. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 26 8 Intangible Assets and Goodwill - net The rollforward analysis of this account follows: September 30, 2025 Application Software and Licenses Goodwill Other Intangible Assets Total Intangible Assets and Goodwill Cost (Unaudited and In Thousand Pesos) At January 1 ₱74,312,700 ₱1,680,771 ₱5,993,692 ₱81,987,163 Additions 18,496 - - 18,496 Adjustment from subsidiary reclassified to assets-held-for- sale (Note 1.15) (26,158) (540,523) - (566,681) Retirements/disposals (193,812) - - (193,812) Transferred from property and equipment (Note 7) 3,174,901 - - 3,174,901 Others (1) - - (1) At September 30 77,286,126 1,140,248 5,993,692 84,420,066 Accumulated Amortization At January 1 59,668,328 - 2,187,933 61,856,261 Amortization (Note 15.2) 4,358,361 - 53,881 4,412,242 Adjustment from subsidiary reclassified to assets-held-for- sale (Note 1.15) (13,367) - - (13,367) Retirements/disposal (186,734) - - (186,734) Transferred from property and equipment (Note 7) 49,289 - - 49,289 Others (840) - - (840) At September 30 63,875,037 - 2,241,814 66,116,851 Carrying Amount at September 30, 2025 ₱13,411,089 ₱1,140,248 ₱3,751,878 ₱18,303,215 Carrying Amount at December 31, 2024 ₱14,644,372 ₱1,680,771 ₱3,805,759 ₱20,130,902 September 30, 2024 Application Software and Licenses Goodwill Other Intangible Assets Total Intangible Assets and Goodwill Cost (Unaudited and In Thousand Pesos) At January 1 ₱71,184,561 ₱1,734,205 ₱5,993,692 ₱78,912,458 Additions 164,018 - - 164,018 Retirements/Disposals (260,692) - - (260,692) Transferred from property and equipment (Note 7) 2,417,653 - - 2,417,653 Others (1,329) - - (1,329) At September 30, 2024 73,504,211 1,734,205 5,993,692 81,232,108 Accumulated Amortization At January 1 53,607,495 - 1,931,857 55,539,352 Amortization (Note 15.2) 4,741,593 - 242,728 4,984,321 Retirements/Disposals (213,997) - - (213,997) Others 622 - - 622 At September 30, 2024 58,135,713 - 2,174,585 60,310,298 Carrying Amount at September 30, 2024 ₱15,368,498 ₱1,734,205 ₱3,819,107 ₱20,921,810 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 27 Application software and licenses and other intangible assets Other intangible assets consist of customer contracts, franchise an spectrum. As of September 30, 2025 and December 31, 202 4, th ere was no indication that the application software licenses and other intangible assets are impaired. Goodwill Globe’s goodwill were recognized from acquisition of subsidiaries. Details of Globe’s goodwill are as follows: September 30 December 31 September 30 Note 2025 (Unaudited) 2024 (Audited) 2024 (Unaudited) (In Thousand Pesos) BTI ₱1,140,248 ₱1,140,248 ₱1,140,248 Yondu 1.15 - 540,523 540,523 Others - - 53,434 ₱1,140,248 ₱1,680,771 ₱1,734,205 As of September 30, 2025, Goodwill on Yondu amounting to ₱540.52 million were reclassified to Assets held-for-sale following the agreement with NCSI for the latter to hold 51% ownership in Yondu and Yondu’s acquisition of NCS-PH (See Note 1.15) Globe conducts its annual impairment test of goodwill in t he third f iscal quarter of each year. Globe considers the relationship between its market capitalizatio n and its book value, among other factors, when reviewing for indicators of impairment. 2025 2024 Mobile communications CGU BTI BTI Standalone CGU - Yondu and others The recoverable amount of the CGUs are determined based on value in use calculations using cash flow projections from business plans covering a five-year period. Based on the Goodwill impairment testing performed in the third fiscal quarter of 2025, the recoverable amounts of the CGUs where the goodwill were allocated were substantially in excess of their carrying amounts. Sensitivity Analysis Globe has determined that the recoverable amount calculations are most sensitive to changes i n assumptions on cash flow projections, discount rate, and verifiable industry growth rates. The pre-tax discount rates applied to cash flow projections was 10.30% for mobile communications CGU. The cash flows beyond the five -year period were extrapolated using the average terminal growth rate for telecommunication industry of 1.50%. Globe has conducted an analysis of the sensitivity of the impairment test to changes in the key assumptions used to determine the recoverable amount of the CGU. Management bel ieves that any reasonably possible change in the key assumptions on which the recoverable amount of the CGU is based would not result in impairment loss due to the substantial headroom. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 28 9 Lease commitments 9.1 Right of use assets– net The rollforward analysis of this account follows: September 30, 2025 Network Sites Leased lines, IRUs and Data Centers Transportation Equipment Corporate Office Stores Total Cost (Unaudited and In Thousand Pesos) At January 1 ₱83,747,805 ₱5,500,744 ₱586,630 ₱518,895 ₱110,384 ₱90,464,458 Additions 15,014,661 179,550 245,750 - 61,202 15,501,163 Modifications and terminations (928,225) (76,109) (6,475) 16,992 10,021 (983,796) Depreciation (Note 15.2) (6,161,195) (1,739,789) (304,170) (228,856) (105,434) (8,539,444) Carrying Amount at September 30, 2025 ₱91,673,046 ₱3,864,396 ₱521,735 ₱307,031 ₱76,173 ₱96,442,381 Carrying Amount at December 31, 2024 ₱83,747,805 ₱5,500,744 ₱586,630 ₱518,895 ₱110,384 ₱90,464,458 September 30, 2024 Network Sites Leased lines, IRU and Data Centers Transportation Equipment Corporate Office Stores Total Cost (Unaudited and In Thousand Pesos) At January 1 ₱64,591,245 ₱3,634,838 ₱504,368 ₱783,106 ₱25,239 ₱69,538,796 Additions 20,608,098 99,302 392,975 57,545 115,993 21,273,913 Modifications and terminations 2,217,617 6,607 (21,642) (9,703) 8,685 2,201,564 Transferred from property and equipment (Note7) - 1,222,599 - - - 1,222,599 Depreciation (Note15.2) (4,758,096) (981,819) (306,703) (232,010) (70,466) (6,349,094) Carrying Amount at September 30, 2024 ₱82,658,864 ₱3,981,527 ₱568,998 ₱598,938 ₱79,451 ₱87,887,778 Network sites leases include ground lease occupied by self-constructed tower assets, Tower leases from sale and leaseback arrangements with Tower Companies and Tower Leases from Build to Suit arrangement with Tower Companies. Sale and Leaseback of Telecom Towers As disclosed in Note 7 – Property and Equipment, Globe signed sale and leaseback agreements consisting of 7,506 telecom towers and related passive telecom infrastructure. The contract also covers the leaseback of the sold telecom towers for an initial period of 15 years with op tion to extend upon agreement by the parties. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 29 The leaseback arrangements for the sold telecom towers sold took effect at the date of sale. Information on Globe’s leaseback arrangements follows: Three – Month Period Ended September 30 Nine – Month Period Ended September 30 2025 2024 2025 2024 (Unaudited and in Thousand Pesos) No. of Telecom Towers 96 1,037 273 2,161 Recognition of lease liabilities ₱1,035,153 ₱13,418,714 ₱2,888,582 ₱23,221,282 Recognition of ROU assets 378,797 6,722,971 1,327,820 12,641,433 The recognition of additional ROU assets represents only the rights retained by Globe over the telecom towers leased back from the tower companies. As of September 30 , 202 5 and December 31, 2024, ROU assets with remaining net book value of ₱1,205.92 million and ₱1,318.89 million, respectively, were continued to be classifi ed as assets -held- for-sale as Globe remains committed to its plan to sell the telecom towers. 9.2 Lease liability The following table provides the components of lease liabilities: September 30 December 31 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Network sites - net ₱124,169,872 ₱111,850,877 Leased lines and Data Centers 1,999,208 3,178,317 Transportation Equipment 478,557 520,332 Corporate Office 226,752 427,025 Stores 149,597 131,323 127,023,986 116,107,874 Less current portion 8,575,791 8,175,643 Net of current portion ₱118,448,195 ₱107,932,231 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 30 The roll forward analysis of this account follows: September 30, 2025 Network Sites – net Leased Lines and Data Centers Transportation Equipment Corporate Office Stores Total (Unaudited and In Thousand Pesos) At January 1, 2025 ₱111,850,877 ₱3,178,317 ₱520,332 ₱427,025 ₱131,323 ₱116,107,874 Additions 16,575,423 179,550 245,750 - 61,202 17,061,924 Interests (Note 15.3) 5,782,003 108,187 22,277 17,184 3,273 5,932,924 Settlements (8,966,153) (1,360,921) (303,326) (234,449) (56,252) (10,921,101) Modifications and terminations (1,072,278) (105,925) (6,476) 16,992 10,051 (1,157,635) Carrying Amount at September 30, 2025 ₱124,169,872 ₱1,999,208 ₱478,557 ₱226,752 ₱149,597 ₱127,023,986 September 30, 2024 Network Sites - Net Leased Lines and Data Centers Transportation Equipment Corporate Office Stores Total (Unaudited and In Thousand Pesos) At January 1, 2024 ₱84,180,567 ₱3,323,048 ₱479,221 ₱714,477 ₱27,169 ₱88,724,482 Additions 31,187,947 99,302 392,975 57,545 115,993 31,853,762 Interests (Note 15.3) 4,657,178 125,546 17,644 31,182 2,130 4,833,680 Settlements (11,576,562) (1,017,199) (374,066) (297,150) (66,523) (13,331,500) Modifications and terminations 1,553,138 6,607 (20,997) (10,948) 9,113 1,536,913 Carrying Amount at September 30, 2024 ₱110,002,268 ₱2,537,304 ₱494,777 ₱495,106 ₱87,882 ₱113,617,337 As of September 30, 2025 and December 31, 2024, the portion of the lease liabilities on related to ROU assets that are reclassified to assets classified as held -for-sale amounted to ₱1.36 billion and ₱1.60 billion, respectively. Such liabilities will remain to be Globe’s liability until the closing conditions on the transfer of assets are met, on which date, these liabilities will be pre-terminated. As of September 30 , 2025 and December 31, 2024, lease liabilities on network sites represent net obligations to lessors after offsetting lease receivables amounting to ₱970.95 m illion and ₱789.19 million, respectively. Interest income from sublease receivables amounted to ₱10.75 million and ₱29.84 million for the three -month and nine -month period ended September 30, 2025 and ₱7.73 million for the three -month and nine -month period ended September 30, 2024 , respectively (See Note 15.3). Collections from sublease receivables amounted to ₱46.88 million and ₱144.09 million for the three-month and nine-month period ended September 30, 2025. 9.3 Short-term Leases and Leases of Low Value Assets Short-term leases and leases of low -value assets charged as operating expenses amounted to ₱840.88 million and ₱2,528.90 million for the three -month and nine -month period ended September 30, 202 5, and ₱673.59 million and ₱2,336.33 million for the three-month and nine-month period ended September 30, 2024, respectively (see Note 15.1). Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 31 10 Investments in Joint Ventures This account consists of the following: September 30 December 31 Notes 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Vega 10.1 ₱33,495,074 ₱34,180,363 Mynt 10.2,14 23,127,657 15,293,630 GSG 10.3 9,322,634 9,086,466 TechGlobal 10.4 150,219 148,498 Gogoro 10.7 234,135 234,135 Bridge Mobile Pte. Ltd (BMPL) 10.5 58,892 56,810 Telecommunications Connectivity, Inc. (TCI) 10.6 43,276 41,809 Others 10.8 238,028 327,213 ₱66,669,915 ₱59,368,924 Equity share in net gain (loss) from investment in joint ventures are as follows: Three – Month Period Ended September 30 Nine – Month Period Ended September 30 2025 2024 2025 2024 (Unaudited and In Thousand Pesos) Mynt ₱ 1,464,704 ₱1,321,932 ₱ 5,273,670 ₱3,461,947 GSG 99,640 113,383 236,169 365,047 Vega (35,724) (136,515) (85,290) (6,679) TechGlobal 574 (467) 1,721 11,502 TCI 1,038 800 1,467 (65) BMPL 620 378 1,745 (2,217) Others 2 (77,890) (47,070) (165,776) ₱1,530,854 ₱1,221,621 ₱5,382,412 ₱3,663,759 Investment in joint ventures share in other comprehensive income are as follows (see Note 13.8): Three – Month Period Ended September 30 Nine – Month Period Ended September 30 2025 2024 2025 2024 (Unaudited and In Thousand Pesos) Vega ₱- ₱- ₱- (₱40,903) BMPL 1,782 (₱2,533) 337 3,189 ₱1,782 (₱2,533) ₱337 (₱37,714) Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 32 10.1 Investment in Vega On May 30, 2016, Globe Telecom’s BOD, through its Executive Committee, approved the signing of a Sale and Purchase Agreement (SPA) and other related definitive agreements for acquisition of 50% equity interest in the telecommunications business of San Miguel Corporation (SMC), Schutzengel Telecom, Inc. and Grace Patricia W. Vilchez-Custodio (the “Sellers”; SMC being the major seller) through their respective subsidiaries namely, VTI, BAHC and BHC, respectively (the Acquirees). The remaining 50% equity stake in VTI, BAHC and BHC was acquired by Philippine Long Distance Telephone Company (PLDT) under similar definitive agreements. Globe’s investment in VTI includes redeemable preference share, w hich VTI partially redeemed on September 2, 2025, at the issue price, resulting in ₱600.00 million proceeds in cash for Globe. VTI owns an equity stake in Liberty Telecom Holdings, Inc. (LIB). It also owns, directly and indirectly, equity stakes in various enfranchised companies, including Bell Telecommunication Philippines, Inc. (Bell Tel), Eastern Telecom Philippines, Inc. (Eastern Telecom), Cobaltpoint Telecommunication, Inc (formerly Express Telecom, Inc.), and Tori Spectrum Telecom, Inc., among others. The acquisition provided Globe Telecom access to certain frequencies assigned to Bell Tel in the 700 Mhz, 900 Mhz, 1800 Mhz, 2300 Mhz and 2500 Mhz bands through a co-use arrangement approved by the NTC on May 27, 2016. The memorandum of agreement between Globe and PLDT provides for both parties to pool resources and share in the profits and losses of the companies on a 50%-50% basis with a view to being financially self-sufficient and able to operate or borrow funds without recourse to the parties. 10.2 Investment in Mynt Mynt is engaged in purchasing, subscribing, owning, holding and assigning real and personal property, shares of stock and other securities. Mynt holds 100% ownership interest in GXI and Fuse. GXI is registered with the Bangko Sentral ng Pi lipinas (BSP) as a remittance agent and electric money issuer under the GCash brand. Fuse is the lending arm of Mynt with a financing license under the Securities and Exchange Commission (SEC). Mynt’s key products and services include: in payments, allowi ng customers to send and receive money anywhere in the Philippines and to other bank accounts, purchase prepaid load, pay bills nationwide, and purchase from merchants and social sellers both online and offline; In digital financial services, giving users access to credit, savings, investments, and insurance. On August 1, 2024, Mynt secured fresh strategic investments from AC, through its wholly -owned subsidiary, AC Ventures Holdings, Inc. (ACV), and Mitsubishi UFJ Financial Group (MUFG), through its consolidated subsidiary, MUFG Bank Ltd., pushing Mynt’s valuation to $5 billion. On February 12, 2025, Mynt and MUFG closed its transaction on MUFG’s acquisition of Mynt shares, completing MUFG’s 8% stake in Mynt . The deal resulted in the dilution of Globe’s o wnership in Mynt from 36% to 34%. Accordingly, gain on deemed sale of investment in Mynt amounting to ₱2,560.36 million was recognized in the consolidated statements of comprehensive income (See Note 14). On June 2, 2025, the Board of Directors and share holders of Mynt approved the amendments to the articles of incorporation by amending the number of common shares and par value from 2,149,773,612 shares with par value of ₱1.00 per share to 71,659,120,400 shares with par value of ₱0.03 per share with authorized capital stock being retained at ₱2,149,773,612. Total revenues of Mynt amounted to ₱20.9 billion and ₱16.9 billion for the three-month period ended September 30, 2025 and 2024, and ₱60.8 billion and ₱43.6 billion for the nine -month period ended September 30, 2025 and 2024, respectively. Net Income of Mynt amounted ₱4.3 billion and ₱3.7 billion for the three-month period ended and ₱15.2 billion and ₱9.7 billion for the nine-month period ended September 30, 2025 and 2024, respectively. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 33 Share Purchase Agreements ECPAY On September 29, 2023, Globe Telecom entered into a Share Purchase Agreement with Mynt for the sale of Globe’s 77% investment in ECPay for a total consideration of ₱2,310.00 million. Thereafter, Globe Telecom ceased to consolidate ECPay as certain terms and conditions in the Share Purchase Agreement constrained Globe’s ability to exercise control over ECPay’s relevant activities, including its exposures and rights to variable returns. In 2023, the fair value of Globe’s interest in ECPay was reclassified to Assets classified as held-for-sale under the current assets sections in Globe’s consolidated statement of financial position. The resulting gain, amounting to ₱76.67 million was recognized in the consolidated statements of comprehensive income in 2023. In September 2024, April 2025 and July 2025, ECPay declared dividends to its existing shareholders representing a return of investment. Globe Telecom received ₱500.50 million , ₱308.00 million and ₱346.50 million from these cash proceeds, respectively. The closing of the transaction and actual transfer of ownership was subjected to review by the PCC. On May 14, 2025, PCC issued a certification allowing the transaction to proceed, subject to strict compliance by ECPay and Mynt of their voluntary commitments. On August 5, 2025, the closing of the transaction and transfer of ownership were completed . Globe Telecom received cash amounting to ₱962.50 million. Assets held -for-sale relating to Globe’s interest in Mynt amounted to nil and ₱1,809.50 million , respectively, presented in the consolidated statements of financial position (See Note 1.17). AB Capital Securities, Inc. (“ABCSI”) On September 8, 2023, Mynt entered int o a definitive agreement with AB Capital & Investment Corporation, an entity controlled by a member of the Board of Directors of Globe, to acquire up to a 50.0% equity stake in ABCSI. As of September 30, 2025, Mynt has closed the three investment tranches and currently owns 24.5% of ABCSI. 10.3 Investment in Globe STT GDC, Inc. (GSG, formerly known as KarmanEdge) KarmanEdge is engaged in installing, building, owning, operating, maintaining and managing data centers and other related infrastructure, informatio n technology equipment and facilities. On May 19, 2022, the SEC approved the amendment of KarmanEdge’s articles of incorporation which effectively changes its corporate name to Globe STT GDC, Inc. Globe owns 50% ownership in GSG. 10.4 Investment in TechGlobal On November 2, 2015, Innove and Techzone Philippines incorporated TechGlobal, a Joint Venture Company, formed to install, own, operate, maintain and manage all kinds of data centers and to provide information technology-enabled services and computer-enabled support services. Innove and Techzone hold ownership interest of 49% and 51%, respectively. TechGlobal started commercial operations in August 2017. 10.5 Investment in BMPL Globe Telecom and other leading Asia Pacific mobile operators (JV partners) signed an A greement in 2004 (JV Agreement) to form a regional mobile alliance, which will operate through a Singapore - incorporated company, BMPL. The JV company is a commercial vehicle for the JV partners to build and establish a regional mobile infrastructure and co mmon service platform and deliver different regional mobile services to their subscribers. Globe owns 10% ownership in BMPL. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 34 10.6 Investment in TCI On January 17, 2020, Globe Telecom, Dito Telecommunity and Smart Communications incorporated a joint venture company, Telecommunications Connectivity, Inc. (TCI) in line with the new mobile number portability initiative of the government under RA 11202 also known as the "Mobile Number Portability Act" ("the MNP Act”). As committed to the National Telecommunications Commission, TCI commenced commercial operations on September 30, 2021 through the implementation of MNP services. Globe owns 33% ownership interest in TCI. TCI is expected to bring In the technical infrastructure to fulfill its primary function as a clear ing house for the three mobile operators to ensure the smooth implementation of number porting services. 10.7 Investment in Gogoro On June 5, 2023 , 917Ventures, Inc., Gogoro Network Pte. Ltd and Ayala Corporation formed Gogoro Philippines Inc. (Gogoro) , a Joi nt Venture company established to engage in, operate, conduct, and maintain the business of importing, selling, distributing, operating, managing, and maintaining two - wheeled and three-wheeled electric vehicles, for retail, and battery -swapping stations, a nd to provide after-sales services. Globe owns 49% of Gogoro. 10.8 Others Globe has investments in non-telco business offering healthcare and digital solutions , among others, which are individually immaterial. Globe invested nil and ₱253.65 million of additional capital as of September 30, 2025 and 2024, respectively. On March 6, 2025, GCVH, Vigos and Salud entered into a Sale and Purchase Agreement with mWell for the acquisition of 100% of Konsulta’s shares for a total consideration of ₱200.60 million. On April 11, 2025, the closing of the transaction and transfer of ownership were completed resulting in the recognition of the ₱21.09 million gain on sale of Investment in Konsulta in the consolidated statements of comprehensive income (See Note 14). 11 Trade Payables and Accrued Expenses This account consists of: September 30 December 31 Notes 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Accrued project costs 20.2 ₱32,587,850 ₱30,740,903 Accrued expenses 22,281,798 23,159,507 Taxes payable 10,975,307 9,958,773 Trade payables 5,465,657 8,525,360 Traffic settlements – net 20.1 788,049 749,690 Other creditors 5,507,124 4,973,099 ₱77,605,785 ₱78,107,332 Traffic settlements payable are presented net of traffic settlements receivable from the same carrier (see Note 20.1). Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 35 Accrued expenses consists of the following: September 30 December 31 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Utilities, supplies and other administrative expenses ₱3,928,429 ₱2,895,099 Staff costs 3,491,606 3,586,565 Professional and other contracted services 3,117,134 3,321,742 Repairs and maintenance 3,030,065 3,055,762 Taxes and licenses 1,917,745 2,081,415 Lease 1,448,409 1,558,352 Interest on loans 1,180,806 1,438,267 Selling, advertising and promotions 986,639 1,541,434 Others 3,180,965 3,680,871 ₱22,281,798 ₱23,159,507 12 Loans Payable The table below shows Globe’s short term credit facilities (in millions). September 30 December 31 2025 (Unaudited) 2024 (Audited) Short term Committed PHP ₱3,000 ₱3,000 USD $50 $50 Uncommitted PHP ₱84,151 ₱85,788 USD $114 $114 Globe’s loans payable consists of the following: September 30 December 31 2025 (Unaudited) 2024 (Audited) (In Thousand Pesos) Term Loans: Peso ₱204,762,553 ₱200,472,330 Dollar 14,132,315 14,605,104 218,894,868 215,077,434 Retail bonds dollar 34,596,584 34,382,475 253,491,452 249,459,909 Less current portion 22,202,462 26,349,796 Net of current portion ₱231,288,990 ₱223,110,113 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 36 The maturities of loans payable at nominal values as of September 30, 2025 follow (in thousands pesos): Due in: 2025 ₱5,173,000 2026 22,239,807 2027 23,407,891 2028 22,752,000 2029 and thereafter 181,179,400 ₱254,752,098 Total interest expense recognized in the interim condensed consolidated profit or loss related to long- term debt amounted to ₱2,013.89 million and ₱1,823.30 million for the t hree-months period ended September 30, 2025 and 2024 and ₱5,696.20 million and ₱5,330.39 million for the nine-months period ended September 30, 2025 and 2024, respectively (see Note 15.3). Total interest expenses capitalized as part of property and equi pment amounted to ₱4,255.77 million and ₱4,961.93 million as of September 30, 2025 and 2024, respectively (see Note 7). 12.1 Term Loans Globe Telecom has unsecured term loans which consist s of dollar and peso -denominated term loans subject to fixed and floating interest rates. 12.2 Retail Bonds Dollar On July 23, 2020, Globe Telecom issued a USD 300 million 10-year and USD 300 million 15-year US dollar denominated senior notes with a coupon rate of 2.5% and 3.0%, respectively. The notes are unrated and have been listed on the Singapore Exchange Securities Trading Limited on July 24, 2020. The net proceeds from the issue of the notes will be used to finance Globe’s capital expenditures, refinance maturing and/or existing obligations, and for general corporate requirements. 12.3 Loan Covenants The loan agreements with banks and other financial institutions provide for certain restrictions and requirements with respect to, among others, maintenance of financial ratios and percentage of ownership of specific shareholders, incurrence of additional long-term indebtedness or guarantees and creation of property encumbrances. The financial tests under Globe’s loan agreements include compliance with the following ratios: Total debt* to EBITDA not exceeding 3.5:1; Debt service coverage exceeding 1.3 times; and Secured debt ratio not exceeding 0.2 times. *Composed of loans payable and net derivative liabilities. As of September 30, 2025 and December 31, 2024, Globe is not in breach of any loan covenants. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 37 13 Equity Globe Telecom ’s authorized capital stock as of September 30, 2025 and December 31, 2024 consists of (amounts in thousands pesos and number of shares ): Shares Amount Voting preferred stock - ₱5 per share 160,000 ₱800,000 Non-voting preferred stock - ₱50 per share 40,000 2,000,000 Common stock - ₱50 per share 168,934 8,446,719 Globe Telecom ’s issued, subscribed and fully paid capital stock consists of: September 30, 2025 September 30, 2024 Shares Amount Shares Amount (In Thousand Pesos and Number of Shares) Voting preferred stock 158,515 ₱792,575 158,515 ₱792,575 Non-voting Preferred Stock 20,000 1,000,000 20,000 1,000,000 Common stock 144,468 7,223,426 144,380 7,219,017 Total capital stock ₱9,016,001 ₱9,011,592 Total capital stock amounted to ₱9,011,592 as of December 31, 2024 Below is the summary of Globe Telecom’s track record of registration of securities: Number of shares registered Issue/offer price Date of approval (In Thousands, Except for Issue/Offer price) Voting preferred stock 158,515 ₱5.00 June 2001 Non-voting preferred stock 20,000 500.00 August 11, 2014 Common stock* 30,000 0.50 August 11, 1975 Common stock* 10,119 1,680 October 28, 2022 *Initial number of registered shares only 13.1 Preferred Stock Non-Voting Preferred Stock Non-voting preferred stock has the following features: Issued at ₱50 par; Dividend rate to be determined by the BOD at the time of issue; Redemption - at Globe Telecom‘s option at such times and price(s) as may be determined by the BOD at the time of issue, which price may not be less than the par value thereof plus accrued dividends; Eligibility of investors - Any person, regardless of nationality or partnership, association or corporation provided that at least 60% of the outstanding capital stock shall be owned by Filipino; No voting rights; Cumulative and non-participating; No pre-emptive rights over any sale or issuance of any share in Globe Telecom’s capital stock; and Stocks shall rank ahead of the common shares and equally with the voting preferred s tocks in the event of liquidation. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 38 On August 22, 2021, Globe T elecom redeemed the 20 million non -voting preferred shar es for ₱10,000.00 m illion which were recognized as treasury shares in the consolidated statements of financial position (see Note 13.4). On August 5, 2025, the BOD approved and authorized the shelf registration of up to 20 million non- voting preferred shares with a par value of ₱50 per share. Additionally, the BOD approved and authorized the initial offering and listing of such non -voting preferred shares with an aggregate amount up to twenty five billion pesos ₱25,000 million subject to the registration requirements of the SEC and the listing requirements of the PSE. Voting Preferred Stock Voting preferred stock has the following features: Issued at ₱5 par; Dividend rate to be determined by the BOD at the time of issue; One preferred share is convertible to one common share starting at the end of the 10th year of the issue date at a price to be determined by Globe Telecom’s BOD at the time of issue which shall not be less than the market price of the common share less the par value of the preferred share; Call option - Exercisable any time by Globe Telecom starting at the end of the 5th year from issue date at a price to be determined by the BOD at the time of issue; Eligibility of investors - Only Filipino citizens or corporations or partnerships wherein 60% of the voting stock or voting power is owned by Filipino; With voting rights; Cumulative and non-participating; Preference as to dividends and in the event of liquidation; and No preemptive right to any share issue of Globe Telecom, and subject to yield protection in case of change in tax laws. The dividends for preferred stocks are declared upon the sole discretion of Globe Telecom’s BOD. 13.2 Common Stock The rollforward of outstanding common shares follows: Nine - Month Period Ended September 30 2025 2024 Shares Amount Shares Amount (In Thousand Pesos and Number of Shares) At beginning of year 144,380 ₱7,219,017 144,229 ₱7,211,455 Issuance of shares under share-based compensation plan and exercise of stock options 88 4,409 151 7,562 At end of period 144,468 ₱7,223,426 144,380 ₱7,219,017 The holders of fully paid common stock are entitled to voting and dividends rights. 13.3 Capital Securities On November 2, 2021, Globe Telecom issued US$600 million senior perpetual capital securities with an initial distribution rate of 4.20% payable semi -annually and callable on or after August 2, 2026. The distribution rate is subject to step up on the fifth anniversary and shall be recalculated every five years thereafter. The capital securities were classified as equity since there is no fixed redemption date and the redemption is at the option of Globe Telecom. Globe Telecom also has the right to defer payment of any or all of the distribution. On November 3, 2021, the cap ital securities were listed in Singapore Exchange Securities Trading Limited. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 39 Distribution to holders of capital securities in the nine-month period ended September 30, 2025 and 2024 amounted to ₱664.48 million and ₱681.55 million, respectively. 13.4 Treasury Shares Globe’s treasury shares pertain to the 20 million non -voting preferred shares that were redeemed on August 22, 2021 for ₱10,000.00 million (see Note 13.1). 13.5 Cash Dividends Information on Globe Telecom’s BOD declaration of cash dividends follows: Date Per Share Amount Record Payment (In Thousand Pesos, Except Per Share Figures) Dividends on Common stock: February 6, 2024 25.00 3,605,716 February 21, 2024 March 7, 2024 May 14, 2024 25.00 3,609,508 May 28, 2024 June 13, 2024 August 6, 2024 25.00 3,609,508 August 20, 2024 September 5, 2024 February 6, 2025 25.00 3,609,508 February 20, 2025 March 7, 2025 May 9, 2025 25.00 3,611,713 May 26, 2025 June 5, 2025 August 5, 2025 25.00 3,611,713 August 19, 2025 September 4, 2025 13.6 Common Stock Dividend The dividend policy of Globe Telecom as approved by the BOD is to declare cash dividends to its common stockholders on a regular basis as may be determined by the BOD. The dividend distribution policy is reviewed annually and subsequently each quarter of the year, taking into account Globe Telecom's operating results, cash flows, debt covenants, capital expenditure levels and liquidity. On February 6, 2024, the BOD approved the proposed change in the dividend policy from 60% to 75% to 60% to 90% of prior year’s core net income, to be applied starting 2024 dividend declaration. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 40 13.7 Retained Earnings Available for Dividend Declaration The total unrestricted retained earnings available for dividend declaration amounted to ₱22,891.15 million and ₱12,582.82 million as of September 30, 202 5 and December 31, 202 4, respectively. This amount excludes the undistributed net earnings of consolidated subsidiaries, accumulated equity in net earnings of joint ventures accounted for under the equity method, and unrealized gains recognized on asset and liability , currency translations and unrealized gains on fair value adjustments. Globe is subject to loan covenants that restrict its ability to pay dividends (See Note 12). 13.8 Other Reserves September 30, 2025 Cash flow hedges Investment in equity securities Currency translation adjustment Remeasurement on pension liabilities Others Total (Unaudited and In Thousand Pesos) As of January 1 (₱1,866,910) ₱1,372,507 ₱915,075 (₱2,690,299) ₱- (₱2,269,627) Fair value changes 24,959 21,337 - - - 46,296 Share in OCI from investment in joint venture (see Note 10) - - 337 - - 337 Remeasurement on pension liabilities - - - 8,319 - 8,319 Transferred to profit or loss 124,059 - - - - 124,059 Exchange differences - - 10,320 - - 10,320 Income tax effect (37,254) (5,334) - (2,080) - (44,668) Other comprehensive income for the period 111,764 16,003 10,657 6,239 - 144,663 Other comprehensive income attributable to non-controlling interest - - (3,007) 1,749 - (1,258) Other comprehensive income attributable to equity holders of the Parent 111,764 16,003 7,650 7,988 - 143,405 Non-controlling interest adjustment arising from increase in ownership share (see Notes 1.8 and 1.16) - - - - (45,474) (45,474) As of September 30 (₱1,755,146) ₱1,388,510 ₱922,725 (₱2,682,221) (₱45,474) (₱2,171,696) As of December 31, 2024 (₱1,866,910) ₱1,372,507 ₱915,075 (₱2,690,299) ₱- (₱2,269,627) Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 41 September 30, 2024 Cash flow hedges Investment in equity securities Currency translation adjustment Remeasurement on pension liabilities Total (Unaudited and In Thousand Pesos) As of January 1 (₱996,453) ₱1,217,194 ₱637,601 (₱2,191,595) (₱1,333,253) Fair value changes (734,025) 167,011 - (4,471) (571,485) Share in OCI from investment in joint venture (see Note 10) - (16,931) 3,189 (23,972) (37,714) Remeasurement on pension liabilities - - - - - Transferred to profit or loss 39,109 - - - 39,109 Exchange differences - - 95,018 - 95,018 Income tax effect 173,729 (41,753) - 1,118 133,094 Other comprehensive income (loss) for the period (521,187) 108,327 98,207 (27,325) (341,978) Other comprehensive income attributable to non-controlling interest - - 5,445 804 6,249 Other comprehensive income attributable to equity holders of the Parent (521,187) 108,327 103,652 (26,521) (335,729) As of September 30, 2024 (₱1,517,640) ₱1,325,521 ₱741,253 (₱2,218,116) (₱1,668,982) 14 Other Income - net This account consists of: Three-Month Period Ended September 30 Nine - Month Period Ended September 30 Notes 2025 2024 2025 2024 (Unaudited and In Thousand Pesos) Gain on deemed sale of investment in Mynt 10.2 ₱- ₱- ₱2,560,357 ₱- Foreign exchange gain (loss) - net (1,875,770) 3,449,955 52,519 (460,143) Lease 65,907 67,833 201,388 208,809 Management fees 41,516 28,194 123,511 101,906 Gain on sale of investments 10.8 - - 21,093 - Gain (loss) on derivative instruments – net 2,089,844 (3,482,126) 19,469 712,079 Others 43,649 437,190 237,457 663,098 ₱365,146 ₱501,046 ₱3,215,794 ₱1,225,749 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 42 15 Cost and Expenses 15.1 General, selling and administrative expenses: This account consists of: Three-Month Period Ended September 30 Nine - Month Period Ended September 30 Note 2025 2024 2025 2024 (Unaudited and In Thousand Pesos) Staff costs ₱ 4,716,972 ₱4,755,914 ₱13,126,815 ₱14,059,864 Professional and other contracted services 3,779,741 3,391,862 10,679,401 10,517,660 Repairs and maintenance 3,311,319 3,536,469 10,500,691 10,280,636 Utilities, supplies and other administrative expenses 3,081,381 2,738,309 8,686,715 8,619,583 Lease 9.3 840,884 673,588 2,528,903 2,336,329 Taxes and licenses 552,694 1,364,263 2,384,910 3,081,359 Selling, advertising and promotions 719,772 928,778 2,186,396 2,567,267 Insurance and security services 354,484 383,462 1,123,762 1,186,980 Courier, delivery and miscellaneous expenses 60,467 77,329 317,020 293,076 Others 712,584 893,584 1,857,989 2,312,834 ₱18,130,298 ₱18,743,558 ₱53,392,602 ₱55,255,588 Staff cost includes pension expense amounting to ₱233.50 million and ₱220.48 million, for the three-month period, ₱701.75 million and ₱645.56 million, for the nine-month period ended September 30, 202 5 and 202 4, and share based compensation amounting to ₱138.75 million and ₱253.58 million for the three -month period, ₱303.80 million and ₱444.07 million for the nine-month period ended September 30, 2025 and 2024, respectively. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 43 15.2 Depreciation and amortization The account consist of: Three-Month Period Ended September 30 Nine - Month Period Ended September 30 Notes 2025 2024 2025 2024 (Unaudited and In Thousand Pesos) Property and equipment 7 ₱9,130,278 ₱8,390,375 ₱27,027,320 ₱25,965,195 Intangible assets 8 1,424,721 1,778,956 4,412,242 4,984,321 Right of use assets– net 9.1 2,996,040 2,370,426 8,539,444 6,349,094 Investment properties 6 945 942 2,827 2,826 ₱13,551,984 ₱12,540,699 ₱39,981,833 ₱37,301,436 15.3 Finance Costs This account consists of: Three-Month Period Ended September 30 Nine - Month Period Ended September 30 Notes 2025 2024 2025 2024 (Unaudited and In Thousand Pesos) Lease liabilities – net 9.2 ₱1,978,521 ₱1,843,364 ₱5,932,924 ₱4,833,680 Loans payable 12 2,013,894 1,823,300 5,696,196 5,330,393 Swap costs 104,800 84,483 323,989 219,270 Pension liabilities 41,513 33,653 124,538 100,959 ARO accretion expense 2,718 3,261 8,557 8,079 Others 4,270 5,985 19,162 18,655 ₱4,145,716 ₱3,794,046 ₱12,105,366 ₱10,511,036 15.4 Impairment and other losses This account consists of: Three-Month Period Ended September 30 Nine - Month Period Ended September 30 Notes 2025 2024 2025 2024 (Unaudited and In Thousand Pesos) Impairment loss on: Trade receivables 4 ₱599,126 ₱637,607 ₱2,160,436 ₱2,291,037 Contract assets 5.1 155,688 180,211 498,417 493,691 Provisions for: Inventory obsolescence and market decline 17,073 23,078 110,320 79,087 Other probable losses 129,773 (110,330) 368,411 101,213 ₱901,660 ₱730,566 ₱3,137,584 ₱2,965,028 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 44 16 Earnings Per Share Globe’s earnings per share amounts were computed as follows: Three-Month Period Ended September 30 Nine-Month Period Ended September 30 2025 2024 2025 2024 (Unaudited) Net income attributable to common shareholders ₱5,253,289 ₱6,021,921 ₱17,692,841 ₱20,575,483 Less: Dividends on preferred shares and distributions on capital securities Convertible voting preferred shares 15,324 12,507 45,973 37,521 Capital securities 332,239 340,773 996,716 1,022,319 Net income attributable to common shareholders for basic earnings per share (a) 4,905,726 5,668,641 16,650,152 19,515,643 Add dividends on preferred shares Convertible voting preferred shares 15,324 12,507 45,973 37,521 Net income attributable to common shareholders for diluted earnings per share (b) 4,921,050 5,681,148 16,696,125 19,553,164 Common shares outstanding, beginning 144,380 144,229 144,380 144,229 Add Weighted average number of issued shares under sharebased compensation 44 63 44 63 Weighted average number of shares for basic earnings per share (c) 144,424 144,292 144,424 144,292 Dilutive shares arising from: Dilutive effect of share based compensation plans 695 592 695 592 Convertible preferred shares 425 397 425 397 Adjusted weighted average number of common stock for diluted earnings per share (d) 145,544 145,281 145,544 145,281 Basic earnings per share (a/c) ₱33.97 ₱39.29 ₱115.29 ₱135.25 Diluted earnings per share (b/d) ₱33.81 ₱39.10 ₱114.72 ₱134.59 Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 45 17 Financial Instruments 17.1 Categories of Financial Assets and Financial Liabilities The table below presents the carrying value of Globe’s financial instruments by category: September 30 2025 December 31 2024 Notes (Unaudited) (Audited) (In Thousand Pesos) Financial Assets Derivative assets Designated as cash flow hedges (FVOCI) ₱5,651,297 ₱5,209,490 Not designated as hedges (FVPL) 307,222 9,661 Financial assets at FVOCI: Investment in equity securities 6.1 4,071,403 3,941,493 Financial assets at FVPL: Investment in debt securities 6.1 143,047 142,304 Financial assets at amortized cost Cash and cash equivalents 3 27,728,379 21,353,659 Trade receivables – net 4 17,548,974 19,660,468 Contract assets – net 5.1 4,648,654 5,442,961 Non-trade receivables 6.2 3,798,411 3,324,995 Loans receivable from related parties 6.1 3,287,935 3,763,935 ₱67,185,322 ₱62,848,966 Financial Liabilities: Derivative liabilities Designated as cash flow hedges (FVOCI) ₱432,722 ₱339,862 Not designated as hedges (FVPL) - 233,143 Financial liabilities at amortized cost Trade payables and accrued expenses* 11 66,630,478 68,148,559 Loans payable 12 253,491,452 249,459,909 Lease liabilities 9.2 127,023,986 116,107,874 Other long term liabilities** 942,408 1,018,474 ₱448,521,046 ₱435,307,821 *Trade payables and accrued expenses exclude taxes payables which are deemed non-financial liabilities **Other long term liabilities exclude ARO and taxes payables which are deemed non-financial liabilities Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 46 17.2 Fair Values of Financial Assets and Financial Liabilities The table below presents a comparison of carrying amounts and estimated fair values of all Globe’s financial instruments as of (In thousands): September 30 December 31 2025 (Unaudited) 2024 (Audited) Carrying Value Fair Value Carrying Value Fair Value Financial Assets Derivative assets1 ₱5,958,519 ₱5,958,519 ₱5,219,151 ₱5,219,151 Investment in debt and equity securities1 4,214,450 4,214,450 4,083,797 4,083,797 ₱10,172,969 ₱10,172,969 ₱9,302,948 ₱9,302,948 Financial Liabilities Derivative liabilities1 ₱432,722 ₱432,722 ₱573,005 ₱537,005 Loans payable2 253,491,452 255,373,904 249,459,909 249,032,055 ₱254,256,774 ₱256,139,226 ₱250,032,914 ₱249,569,060 1 Measured at fair value on a recurring basis The following discussions are methods and assumptions used to estimate the fair value of each class of financial instrument for which it is practicable to estimate such value. Non-Derivative Financial Instrument The fair values of cas h and cash equivalents, trade receivables, contract assets , non-trade receivables, trade payables and accrued expenses are approximately equal to their carrying amounts considering the short-term maturities of these financial instruments. The fair value of loans receivable from related parties was estimated based on the present value of all future cash flows discounted using the prevailing market rate of interest for a similar instrument. The resulting fair value of loans receivable from related parties approximates the carrying amount. The fair value of investments in debt and equity securities are based on quoted prices of similar instruments (Level 1) and recent funding round prices of identical or similar instruments (Level 2). Certain investments in equity securities with no recent funding round were valued using sales enterprise value multiple of comparable companies ranging from 2.3x to 5.5x. For variable rate loans payable that reprice every three months, the carrying value approximates the fair value because of recent and regular repricing based on current market rates. For variable rate loans payable that reprice every six months, the fair value is determined by discounting the principal amount plus the next interest payment using the prevailing mark et rate for the period up to the next repricing date. For noninterest bearing and fixed rate loans payable, the fair value was estimated as the present value of all future cash flows discounted using the prevailing market rate of interest for a similar in strument. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 47 Derivative Instrument The fair value of freestanding and embedded forward exchange contracts is calculated by using the interest rate parity concept. The fair values of interest rate swaps and cross currency swap transactions are determined using valuation techniques with inputs and assumptions that are based on market observable data and conditions and reflect appropriate risk adjustments that market participants would make for credit and liquidity risks existing at the end each of reporting period. The fair value of interest rate swap transactions is the net present value of the estimated future cash flows. The fair values of currency and cross currency swap transactions are determined based on changes in the term structure of interest rates of each currency and the spot rate. The fair values were tested to determine the impact of credit valuation adjustments. However, the impact is not material given that Globe deals its derivatives with large foreign and local banks with very minimal risk of default. Fair Value Hierarchy The following tables provide the fair value measurement hierarchy of Globe’s assets and liabilities: Fair value measurement using Level 1 Level 2 Level 3 Total September 30, 2025 (In Thousand Pesos) Financial Assets Derivative assets ₱- ₱5,958,519 ₱- 5,958,519 Investment in debt and equity securities 868,923 2,639,806 705,721 4,214,450 Financial Liabilities Derivative liabilities - 432,722 - 432,722 Loans payable - 255,373,904 - 255,373,904 December 31, 2024 Financial Assets Derivative assets ₱- ₱5,219,151 ₱- ₱5,219,151 Investment in debt and equity securities 804,240 2,244,100 1,035,457 4,083,797 Financial Liabilities Derivative liabilities - 573,005 - 573,005 Loans payable - 249,032,055 - 249,032,055 There were no transfers from Leve l 1 and Level 2 fair value measurements for the period ended September 30, 2025 and 2024. For financial instruments at fair value measured under Level 3, significant unobservable input includes sales enterprise value multiple of comparable companies and risk-adjustment rates. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 48 18 Capital and Financial Risk Management and Financial Instruments Globe adopts an expanded corporate governance approach in managing its business risks. An Enterprise Risk Management Policy was developed to systematically view the r isks and to provide a better understanding of the different risks that could threaten the achievement of Globe’s mission, vision, strategies, and goals, and to provide emphasis on how management and employees pl ay a vital role in achieving Globe’s mission of transforming and enriching lives through communications. The policies are not intended to eliminate risk but to manage it in such a way that opportunities to create value for the stakeholders are achieved. Globe’s risk management takes place in the cont ext of the normal business processes such as strategic planning, business planning, operational and support processes. The application of these policies is the responsibility of the BOD through the Chief Executive Officer. The Chief Finance Officer and con current Chief Risk Officer champion oversees the entire risk management function. Risk owners have been identified for each risk and they are responsible for coordinating and continuously improving risk strategies, processes and measures on an enterprise-wide basis in accordance with established business objectives. The risks are managed through the delegation of management and financial authority and individual accountability as documented in employment contracts, consultancy contracts, letters of authori ty, letters of appointment, performance planning and evaluation forms, key result areas, terms of reference and other policies that provide guidelines for managing specific risks arising from Globe’s business operations and environment. Globe continues to monitor and manage its financial risk exposures according to its BOD approved policies. 19 Operating Segment Information Globe’s reportable segments consist of: (1) mobile communications services; and (2) wireline communication services; which Globe operates and manages as strategic business units and organize by products and services. Globe presents its various operating segments based on segment net income. Intersegment transfers or transactions are entered into under the normal commercial terms and conditions that would also be available to unrelated third parties. Segment revenue, segment expense and segment result include transfers between business segments. Those transfers are eliminated in consolidation. Most of Globe’s revenues are derived from operations within the Philippines, hence, Globe does not present geographical information required by PFRS 8, Operating Segments. Globe does not have a single customer that will meet the 10% reporting criteria. Globe also presents the different product types that are included in the report that is regularly reviewed by the chief operating decision maker in assessing the operating segments performance. Segment assets and liabilities are not measures used by the chief operating decision maker since the assets and liabilities are managed on a group basis. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 49 Globe’s segment information is as follows (in thousand pesos): September 30, 2025 (Unaudited) Mobile Communications Services Wireline Communications Services Others Consolidated (In Thousand Pesos) REVENUES: Service revenues: External customers: Data ₱73,996,839 14,995,089 ₱- ₱88,991,928 Voice 8,283,253 942,868 - 9,226,121 SMS 3,892,904 - - 3,892,904 Broadband - 17,840,249 - 17,840,249 Others - - 1,725,249 1,725,249 86,172,996 33,778,206 1,725,249 121,676,451 Nonservice revenues: External customers 9,818,645 28,422 66,917 9,913,984 Segment revenues 95,991,641 33,806,628 1,792,166 131,590,435 Operating costs and expenses-net (43,998,864) (21,520,513) (1,885,606) (67,404,983) EBITDA 51,992,777 12,286,115 (93,440) 64,185,452 Depreciation and amortization (26,792,694) (13,050,935) (138,204) (39,981,833) EBIT 25,200,083 (764,820) (231,644) 24,203,619 Finance cost and non-operating expenses – net (3,940,279) 59,795 836,543 (3,043,941) NET INCOME (LOSS) BEFORE TAX 21,259,804 (705,025) 604,899 21,159,678 Provision for income tax (3,439,424) 112,269 (141,694) (3,468,849) NET INCOME (LOSS) ₱17,820,380 (₱592,756) 463,205 ₱17,690,829 Intersegment revenues (₱738,466) (₱1,265,505) (₱4,470,423) (6,474,394) Core net income after tax 15,452,939 Operating costs and expenses - net Operating expenses-net1 (31,654,794) (19,333,120) (1,814,141) (52,802,055) Cost of inventories sold (9,717,375) (307,821) (66,910) (10,092,106) Impairment and other losses2 (1,895,643) (1,237,347) (4,594) (3,137,584) Interconnect costs (731,052) (642,225) 39 (1,373,238) (43,998,864) (21,520,513) (1,885,606) (67,404,983) Finance costs and non-operating charges Finance costs (11,961,440) (124,520) (19,406) (12,105,366) Equity share in net income (losses) of joint ventures 5,144,522 237,890 - 5,382,412 Interest income 305,655 105,599 131,111 542,365 Other non-operating income-net3 2,570,984 (159,174) 724,838 3,136,648 (3,940,279) 59,795 836,543 (3,043,941) Cash Flows Net cash from (used in): Operating activities ₱48,971,674 ₱11,763,069 (₱23,439) ₱60,711,304 Investing activities (15,719,403) (9,141,572) (42,948) (24,903,923) Financing activities (27,698,610) (1,202,874) (229,336) (29,130,820) 1Operating expenses-net primarily includes general, selling and admin expenses net of income from leases, management fees and other operating income 2Impairment and other losses includes impairment loss on receivables, contract assets, inventories, and pr ovision for probable losses 3Other non-operating income primarily includes gain on deemed sale of investment in Mynt under mobile communications services, gain on sale and leaseback of telecom towers – net under mobile communications services, net gain (loss) on derivative instruments, net foreign exchange gain (loss), net gain on disposal of property and equipment, net gain (loss) on ARO and other non-operating income/charges Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 50 September 30, 2024 (Unaudited) Mobile Communications Services Wireline Communications Services Others Consolidated (In Thousand Pesos) REVENUES: Service revenues: External customers: Data ₱72,859,051 ₱15,480,071 ₱- ₱88,339,122 Voice 9,642,449 1,129,990 - 10,772,439 SMS 5,204,629 - - 5,204,629 Broadband - 17,886,868 - 17,886,868 Others - - 1,806,359 1,806,359 87,706,129 34,496,929 1,806,359 124,009,417 Nonservice revenues: External customers 10,457,109 195,765 81,901 10,734,775 Segment revenues 98,163,238 34,692,694 1,888,260 134,744,192 Operating costs and expenses-net (46,044,530) (22,468,763) (1,366,241) (69,879,534) EBITDA 52,118,708 12,223,931 522,019 64,864,658 Depreciation and amortization (25,051,393) (12,055,073) (194,970) (37,301,436) EBIT 27,067,315 168,858 327,049 27,563,222 Finance cost and non-operating expenses – net (2,100,408) (102,561) 39,334 (2,163,635) NET INCOME (LOSS) BEFORE TAX 24,966,907 66,297 366,383 25,399,587 Provision for income tax (4,736,536) (60,765) (45,938) (4,843,239) NET INCOME (LOSS) ₱20,230,371 ₱5,532 ₱320,445 ₱20,556,348 Intersegment revenues (₱781,186) (₱1,755,490) (₱4,048,772) (₱6,585,448) Core net income after tax 17,614,225 Operating costs and expenses - net Operating expenses-net1 (32,987,888) (19,946,580) (1,284,160) (54,218,628) Cost of inventories sold (10,534,467) (895,828) (78,825) (11,509,120) Impairment and other losses2 (1,813,472) (1,146,907) (4,649) (2,965,028) Interconnect costs (708,703) (477,999) (56) (1,186,758) (46,044,530) (22,467,314) (1,367,690) (69,879,534) Finance costs and non-operating charges Finance costs (10,364,939) (127,177) (18,920) (10,511,036) Equity share in net income (losses) of joint ventures 3,287,210 376,549 - 3,663,759 Interest income 379,281 135,243 111,210 625,734 Other non-operating income-net3 4,598,040 (487,176) (52,956) 4,057,908 (2,100,408) (102,561) 39,334 (2,163,635) Cash Flows Net cash from (used in): Operating activities ₱57,282,703 ₱8,350,078 (₱69,232) ₱65,563,549 Investing activities (3,894,412) (10,615,629) (6,107) (14,516,148) Financing activities (44,296,560) (974,407) (28,273) (45,299,240) 1Operating expenses-net primarily includes general, selling and admin expenses net of income from leases, management fees and other operating inc ome 2Impairment and other losses includes impairment loss on receivables, contract assets, inventories, and provision for probable losses 3Other non-operating income primarily includes gain on sale and leaseback of telecom towers – net under mobile communications services, net gain (loss) on derivative instruments, net foreign exchange gain (loss), net gain on disposal of property and equipment, net gain (loss) on ARO and other non-operating income/charges Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 51 The reconciliation of core net income after tax (core NIAT) to NIAT is shown below: Nine-Month Period Ended September 30 2025 (Unaudited) 2024 (Unaudited) (In Thousand Pesos) CORE NIAT ₱15,452,939 ₱17,614,225 Gain (loss) on derivative instruments - net 14,602 534,059 Foreign exchange gains (losses) – net 39,389 (345,107) Gain on sale and leaseback of telecom towers - net 285,536 2,720,858 Gain on deemed sale of investment in Mynt 2,176,303 - Others (277,940) 32,313 NIAT ₱17,690,829 ₱20,556,348 19.1 Mobile Communications Services This reporting segment is made up of digital cellular telecommunications services which includes mobile voice, mobile SMS and mobile data. Globe Telecom offers its mobile communications services to consumers, corporate and small and medium enterprise (SME) clients through the following three (3) brands: Globe Postpaid, Globe Prepaid (including fully Mobile, internet-on-the-go service and GOMO) and Touch Mobile. 19.1.1 Mobile Voice Mobile voice include local, national and international long -distance call services. In addition to its standard, pay-per-use rates, subscribers can choose from bulk and unlimited voice offerings for all-day, and in several denominations. 19.1.2 Mobile SMS Mobile SMS consist of local and international revenues from inbound and outbound SMS. 19.1.3 Mobile Data Mobile Data services allow subscribers to access the internet using their internet-capable mobile devices or laptops. Mobile data also includes local and international revenues from value -added services such as content downloading, mobile commerce services, and other add-on VAS. 19.2 Wireline Communications Services This reporting segment is made up of fixed line voice, corporate data and home broad band services. Globe offers a full range of fixed line communications services, wired and wireless Broadband access, and end-to-end connectivity solutions customized for consumers, SMEs (Small & Medium Enterprises), large corporations and businesses. 19.2.1 Fixed Line Voice Globe’s fixed line voice services include local, national and international lo ng-distance calling services in postpaid and prepaid packages through its Globelines brand. For corporate and enterprise customers, Globe offers voice solutions that include regular and premium conferencing, enhanced voice mail, IP-PBX solutions and domestic or international toll-free services. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 52 19.2.2 Corporate Data Corporate data services include end -to-end data solutions customi zed according to the needs of businesses. Globe’s product offerings include international and domestic leased line services, wholesale and corporate internet access, data center services and other connectivity solutions tailored to the needs of specific industries. Among the products and solutions are as follows: Connectivity - Globe connectivity services provides an up to speed with a fast and resilient connection powered by dedicated and reliable technologies . This service includes d omestic data, international data, and other internet services. Cloud – Globe’s range of cloud services provides i mproved efficiency and agility in the face of evolving business environments while keeping costs low. Data Centers - Globe Data Center offers outsourced data center hosting and management for a superior experience that goes beyond technology. Cybersecurity –Globe cybersecurity provides enterprises the access to the best -in-class tool sets, hardware, software, and even niche technology experts to h andle security threa ts and IT infrastructure in a cost-effective manner. Business Continuity - Globe business continuity services provides the right digital solutions for uninterrupted business operations. The product offers seamless connectivity through Prepaid Mobile WiFi or Corporate Managed Broadband, empowered remote workforce using collaboration tools, and security for their business operations with Backup-as-a-Service (BaaS) and Disaster- Recovery-as-a-Service (DRaaS), among others. Business Applications – Globe offers a diverse range of business applications solutions to streamline and enhance the business’ operations, and raise efficiency, productivity, and customer sa tisfaction. 19.2.3 Home Broadband Globe offers wired and fixed wireless Broadband services, across various technologies and connectivity speeds for its residential and business customers. Globe Home Broadband consists of wired postpaid and prepaid Fiber broadband packages and wireless Home Prepaid WiFi. 19.2.4 Others Globe offers non-telecommunications products and services in adtech and manpower among others. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 53 20 Significant Agreements 20.1 Agreements and Commitments with Other Carriers Globe Telecom, Innove and BTI have existing international telecommunications service agreements with various foreign administrations and inter connection agreements with local telecommunications companies for their various services. Globe Telecom also has international roaming agreements with other foreign operators, which allow its subscribers access to foreign networks. The agreements provide for sharing of toll revenues derived from the mutual use of telecommunication networks. The Interconnect costs amounted to ₱522.68 million and ₱415.51 million for the three-month period ended and ₱1,373.24 million and ₱1,186.76 million for the nine-month period ended September 30, 2025 and 2024 , respectively. Net traffic settlements receivables amounted to ₱905.55 million and ₱907.18 million while net traffic settlements payable amounted to ₱788.05 million and ₱749.69 million as of September 30, 2025 and December 31, 202 4, respectively (see Notes 4 and 11). 20.2 Arrangements and Commitments with Suppliers Globe has entered into agreements with various suppliers for the development or construction, delivery and installation of property and equipment. Under the terms of these agreements, advance payments and down payments are made to suppliers upon submission of required documentation. While the development or construction is in progress, project costs are accrued based on the project status. Billings are based on the progress of the development or construction and advance payments are being applied proportionately to the milestone bill ings. When development or construction and installation are completed and the property and equipment is ready for service, the value of unbilled but delivered goods or services from the related purchase orders is accrued. The accrued project costs as of September 30, 2025 and December 31, 202 4 included in the “ Trade payables and accrued expenses” account in the consolidated statements of financial position amounted to ₱32,587.85 million and ₱30,740.90 million, respectively (see Note 11 ). The settlement of these liabilities is dependent on the payment terms and project milestones agreed with the suppliers and contractors. As of September 30, 20 25 and December 31, 20 24, the unapplied advances made to suppliers and contractors relating to purchase orders issued amounted to ₱13,499.76 million and ₱12,172.43 million, respectively (see Note 6). Also, Globe has existing sale and leaseb ack agreements with various Tower Companies for the use of Telecom Towers. In relation to these arrangements, Globe has 852 and 776 tower lease commitments in which leases have not yet commenced as of September 30, 2025 and December 31, 2024, respectively. 21 Contingencies Globe is contingently liable for various claims arising in the ordinary conduct of business and certain tax assessments which are either pending decision by the courts or are being contested, the outcome of which are not presently determinable. In the opinion of management and legal counsel, the possibility of outflow of economic resources to settle the contingent liability is remote. Interconnection Charge for Short Messaging Service On October 10, 2011, the NTC issued Memorandum Circular (MC) No. 02-10-2011 titled Interconnection Charge for Short Messaging Service requiring all public telecommunication entities to reduce their interconnection charge to each other from ₱0.35 to ₱0.15 per text, which Globe Telecom complied as early as November 2011. On December 11, 2011, the NTC One Stop Public Assistance Center (OSPAC) filed a complaint against Globe Telecom, Smart and Digitel alleging violation of the said MC No. 02-10-2011 and asking for the reduction of SMS off-net retail price from P1.00 to P0.80 per text. Globe Telecom filed its response maintaining the position that the reduction of the SMS interconnection charges does not Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 54 automatically translate to a reduction in the SMS retail charge per text. On November 20, 2012, the NTC rendered a decision directing Globe Telecom to: Reduce its regular SMS retail rate from P1.00 to not more than ₱0.80; Refund/reimburse its subscribers the excess charge of ₱0.20; and Pay a fine of ₱200.00 per day from December 1, 2011 until date of compliance. On May 7, 2014, NTC denied the Motion for Reconsideration (MR) filed by Globe Telecom last December 5, 2012 in relation to the November 20, 2012 decision. Globe Telecom’s assessment is that Globe Telecom is in compliance with the NTC Memorandum Circular No. 02-10-2011. On June 9, 2014, Globe Telecom filed petition for review of the NTC decision and resolution with the Court of Appeals (CA). The CA granted the petition in a resolution dated September 3, 2014 by issuing a 60 -day temporary restraining order on the implementation of Memorandum Circular 02-10-2011 by the NTC. On October 15, 2014, Globe Telecom posted a surety bond to compensate for possible damages as directed by the CA. On June 27, 2016, the CA rendered a decision reversing the NTC’s abovementioned decision and resolution requiring telecommunications companies to cut their SMS rates and return the excess amount paid by subscribers. The CA said that the NTC order was baseless as there is no showing that the reduction in the SMS rate is mandated under MC No. 02-10-2011; there is no showing, either that the present P1.00 per text rate is unreasonable and unjust, as this was not mandated under the memorandum. Moreover, under the NTC’s own MC No. 02 -05-2008, SMS is a value added service (VAS) whose rates are deregulated. The respective motions for reconsideration filed by NTC and that of intervenor Bayan Muna Party List (Bayan Muna) Representatives Neri Javier Colmenares and Carlos Isagani Zarate were both denied. The NTC thus elevated the CA’s ruling to the Supreme Court (SC) via a Petition for Review on Certiorari dated September 15, 2017. For its part, Bayan Muna filed its own Petition for Review on Certiorari of the CA’s Decision. On January 4, 2018, Globe received a copy of the SC’s Resolution dated November 6, 2017, requiring it to comment on said petition of Bayan Muna. Subsequently, on Febru ary 21, 2018, Globe received a copy of the SC’s Resolution dated December 13, 2017 consolidating the Petitions for Review filed by Bayan Muna and NTC, and requiring Globe to file its comment on the petition for review filed by NTC. Thus, on April 2, 2018, Globe filed its Consolidated Comment on both Bayan Muna and the NTC’s petitions for review. On September 18, 2018, Globe received a copy of Bayan Muna’s Consolidated Reply to Globe’s Consolidated Comment and Digitel and Smart’s Comment. Globe Telecom believes that it did not violate NTC MC No. 02-10-2011 when it did not reduce its SMS retail rate from Php 1.00 to Php 0.80 per text, and hence, would not be obligated to refund its subscribers. However, if it is ultimately decided by the Supreme Court (on the appeal taken thereto by the NTC from the adverse resolution of the CA) that Globe Telecom is not compliant with said circular, Globe may be contingently liable to refund to its subscribers the ₱0.20 difference (between ₱1.00 and ₱0.80 per text) reckoned from November 20, 2012 until said decision by the SC becomes final and executory. Management does not have an estimate of the potential claims currently. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 55 Guidelines on Unit of Billing of Mobile Voice Service On July 23, 2009, the NTC issued NTC MC No. 05-07-2009 (Guidelines on Unit of Billing of Mobile Voice Service). The MC provides that the maximum unit of billing for the Cellular Mobile Telephone System (CMTS) whether postpaid or prepaid shall be six (6) seconds per pulse. The rate for the first two ( 2) pulses, or equivalent if lower period per pulse is used, may be higher than the succeeding pulses to recover the cost of the call set-up. Subscribers may still opt to be billed on a one (1) minute per pulse basis or to subscribe to unlimited service offerings or any service offerings if they actively and knowingly enroll in the scheme. On December 28, 2010, the Court of Appeals (CA) rendered its decision declaring null and void and reversing the decisions of the NTC in the rates applications cases for having been issued in violation of Globe Telecom and the other carriers’ constitutional and statutory right to due process. However, while the decision is in Globe Telecom’s favor, there is a provision in the decision that NTC did not violate the right of petitioners to due process when it declared via circular that the per pulse billing scheme shall be the default. On January 21, 2011, Globe Telecom and two other telecom carriers, filed their respective Motions for Partial Reconsideration (MPR) on the pronouncement that “the Per Pulse Billing Scheme shall be the default”. The petitioners and the NTC filed their respective Motion for Reconsideration, which were all denied by the CA on January 19, 2012. On March 12, 2012, Globe and Innove elevated to the SC the questioned portions of the Decision and Resolution of the CA dated December 28, 2010 and its Resolution dated January 19, 2012. The other service providers, as well as the NTC, filed their own petitions for review. The adverse parties have filed thei r comments on each other’s petitions, as well as their replies to each other’s comments. Parties were required to file their respective Memoranda and Globe filed its Memorandum on May 25, 2018. On September 18, 2024, Globe and Innove received the SC’s Decision promulgated on February 13, 2023 sustaining the CA’s Decision dated December 28, 2010 and Resolution dated January 19, 2012 which reversed and set aside the NTC’s Orders dated December 5, 2009 and Show Cause Orders and Cease and Desist Orders dated December 9, 2009. The High Court also made permanent the writ of preliminary injunction issued by the CA enjoining the NTC from enforcing its assailed Orders. In due course, the NTC filed its Motion for Reconsideration (MR) of the SC’s aforesaid decision. On August 5, 2025, Globe and Innove received the Supreme Court Resolution’s dated May 19, 2025, denying the NTC’s MR with FINALITY, the basic issues raised therein having been duly considered an d passed upon by the court in its aforesaid decision. On August 27, 2025, Globe and Innove received a copy of the Entry of Judgement rendering the case closed and terminated. Acquisition by Globe Telecom and PLDT of the Entire Issued and Outstanding Shares of VTI In a letter dated June 7, 2016 issued by Philippine Competition Commission (PCC) to Globe Telecom, PLDT, SMC and VTI regarding the Joint Notice filed by the aforementioned parties on May 30, 2016, disclosing the acquisition by Globe Telecom and PLDT of the entire issued and outstanding shares of VTI, the PCC claims that the Notice was deficient in form and substance and concludes that the acquisition cannot be claimed to be deemed approved. On June 10, 2016, Globe Telecom formally responded to the letter reiterating that the Notice, which sets forth the salient terms and conditions of the transaction, was filed pursuant to and in accordance with MC No. l6-002 issued by the PCC. MC No. 16-002 provides that before the implementing rules and regulations for RA No. 10667 (the Philippine Competition Act of 2015) come into full force and effect, upon filing with the PCC of a notice in which the salient terms and conditions of an acquisition are set forth, the transaction is deemed approved by the PCC and as such, it may no longer be challenged. Further, Globe Teleco m Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 56 clarified in its letter that the supposed deficiency in form and substance of the Notice is not a ground to prevent the transaction from being deemed approved. The only exception to the rule that a transaction is deemed approved is when a notice contains false material information. In this regard, Globe Telecom stated that the Notice does not contain any false information. On June 17, 20 16, Globe Telecom received a copy of the second letter issued by PCC stating that notwithstanding the position of Globe Telecom, it was ruling that the transaction was still subject for review. On July 12, 2016, Globe Telecom asked the CA to stop the government's anti-trust body from reviewing the acquisition of SMC's telecommunications business. Globe Telecom maintains the position that the deal was approved after Globe Telecom notified the PCC of the transaction and that the anti-trust body violated its own rules by insisting on a review. On the same day, Globe Telecom filed a Petition for Mandamus, Certiorari and Prohibition against the PCC, docketed as CA-G.R. SP No. 146538. On July 25, 2016, the CA, through its 6th Division issued a resolution denying Globe Telecom’s application for TRO and injunction against PCC’s review of the transaction. In the same resolution, however, the CA required the PCC to comment on Globe Telecom's petition for certiorari and mandamus within 10 days from receipt thereof. The PCC filed said comment on August 8, 2016. In said comment, the PCC prayed that the ₱70.00 billion deal between PLDT- Globe Telecom and San Miguel be declared void for PLDT and Globe Telecom’s alleged failure to comply with the requirements of the Philippine Competition Act of 2015. The PCC also prayed that the CA direct Globe Telecom to: cease and desist from further implementing its co -acquisition of the San Miguel telecommunications assets; undo all acts consummated pursuant to said acquisition; and pay the appropriate administrative penalties that may be imposed by the PCC under the Philippine Competition Act for the illegal consummation of the subject acquisition. Meanwhile, PLDT filed a similar petition with the CA, docketed as CA G.R. SP No. 146528, which was raffled off to its 12th Division. On August 26, 2016, PLDT secured a TRO from said court. Thereafter, Globe Telecom’s petition was consolidated with that of PLDT, before the 12th Division. The consolidation effectively extended the benefit of PLDT’s TRO to Globe Telecom. The parties were required to submit their respective Memoranda, after which, the case shall be deemed submitted for resolution. On February 17, 2017, the CA issued a Resolution denying PCC’s Motion for Reconsideration dated September 14, 2016 for lack of merit. In the same Resolution, the Court granted PLDT’s Urgent Motion for the Issuance of a Gag Order and ordered the PCC to remove the offending publication from its website and also to obey the sub judice rule and refrain from making any further public pronouncements regarding the transaction while the case remains pending. The Court also reminded the other parties, PLDT and Globe, to likewise observe the sub judice rule. For this purpose, the Court issued its gag order admonishing all the parties “to refrain, cease and desist from issuing public comments and statements that would violate the sub judice rule and subject them to indirect contempt of court. The parties were also required to comment within ten days from receipt of the Resolution, on the Motion for Leave to Intervene, and Admit the Petition-in Intervention dated February 7, 2017 filed by Citizenwatch, a non-stock and non-profit association. On April 18, 2017, PCC filed a petition before the SC docketed as G.R. No. 230798, to lift the CA's order that has prevented the review of the sale of San Miguel Corp.'s telecommunications unit to PLDT Inc. and Globe Telecom. On April 25, 2017, Globe filed before the SC a Motion for Intervention with Motion to Dismiss the petition filed by the PCC. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 57 As of June 30, 2017, the SC did not issue any TRO on the PCC's petition to lift the injunction issued by the CA. Hence, the PCC remains barred from reviewing the SMC deal. On July 26, 2017, Globe received the SC en banc Resolution granting Globe's Extremely Urgent Motion to Intervene. In the same Resolution, the Supreme Court treated as Comment, Globe's Motion to Dismiss with Opposition Ad Cautelam to PCC's Application for the Issuance of a Writ of Preliminary Injunction and/or TRO. On August 31, 2017, Globe received another Resolution of the SC en banc, requiring t he PCC to file a Consolidated Reply to the Comments respectively filed by Globe and PLDT, within ten (10) days from notice. On 16 November 2017, after several extensions of time were granted to the PCC, the Corporation through its external counsel, received a copy of the Consolidated Reply dated 7 November 2017 filed by the PCC. In the meantime, in a Decision dated October 18, 2017, the CA, in CA-G.R. SP No. 146528 and CA-G.R. SP No. 146538, granted Globe and PLDTs Petition to permanently enjoin and prohibiting PCC from reviewing the acquisition and compelling the PCC to recognize the same as deemed approved. PCC elevated the case to the SC via Petition for Review on Certiorari. On 1 June 2018, the Corporation received a copy of the Court of Appeals’ Notice of Resolution dated 25 May 2018 and attached Resolution dated 24 May 2018 denying Citizenwatch’s Motion for Partial Reconsideration on the ground of lack of legal standing and mootness. No further action has been taken since the Resolution dated 24 May 2018 of the Court of Appeals. Co-use of frequencies by PLDT/Smart and Globe Telecom as a result of the acquisition of controlling shares in VTI On January 21, 2019, Globe filed its Comment to a petition filed by lawyers Joseph Lemuel Baligod and Ferdinand Tecson before the Supreme Court, against the NTC, PCC, Liberty Broadcasting Network, Inc., (LBNI), Bell Telecommunications Inc. (BellTel), Globe, PLDT and Smart, docketed as G.R. No. 242352. The petition sought to, among others, enjoin PLDT/Smart and Globe from co-using the frequencies assigned to LBNI and BellTel in view of alleged irregularities in NTC’s assignment of these frequencies to these entities. In its Comment, Globe argued that the frequencies were assigned in accordance with existing procedures prescribed by law and that to prevent the use of the frequencies will only result to its being idle and unutilized. Moreover, in view of the substantial investments made by Globe, for the use of these frequencies, enjoining its use will cause grave and irreparable injury not only to Globe but to subscribers who will be deprived of the benefits of fast and reliable telecommunications services. The other Respondents have likewise filed their respective Comments to the petition. 22 Events After Reporting Period Dividend Declaration On November 6, 2025, the BOD approved the declaration of the fourth quarter cash dividend of ₱25 per common share, payable to common stockholders of record as of November 20, 202 5. Total dividends amounting to ₱3.6 billion will be payable on December 5, 2025. On the same date, the BOD approved the declaration of cash dividend for holders of voting preferred shares on record as of November 2 0, 2025. The amount of cash dividend will be based on the 2024 Benchmark rate of 3 -day average of the 5-year BVAL rates plus 2%. The aggregate dividend payment of the voting preferred shares is about ₱61.3 million payable on December 5, 2025. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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C R E A T E . W O N D E R F U L 58 Konektadong Pinoy Act The Konektadong Pinoy Act (KPA) which lapsed into law last August, establishes a comprehensive legal framework to promote open access, competition, and investment in data transmission infrastructure in the Philippines. It aims to narrow the digital divide by mandating infrastructure sharing, simplifying regulatory processes, ensuring cyber security compliance, and protecting user rights. Under the KPA, new operators class ified as Data Transmission Industry Participants (DTIP) who will engage in the provision of data transmission services no longer need to secure a franchise from Congress as a prerequisite to launching a data service. Also, the KPA mandates infrastructure s haring and co-location, requiring incumbents to provide access to network and facilities to other DTIPs and permitting direct satellite access without NTC approval. Likewise, the KPA will establish a Spectrum Management Policy Framework (SMPF) to govern the management, and more crucially, the assignment and even recall of spectrum. The Department of Information and Communications Technology (DICT) announced on November 05, 2025 the signing of KPA IRR. The DICT and NTC will issue implementing guidelines and circulars necessary to fully implement KPA such as, access list, qualification of DTIPs and SMPF. 23 Financial Soundness Indicators September 30 December 31 2025 2024 Financial Ratios Debt to EBITDA 2.69 2.66 Debt Service Coverage Ratio 3.74 3.42 Interest Coverage Ratio 4.40 4.55 Debt to Equity (D/E Ratio) - gross 1.45 1.49 Debt to Equity (D/E Ratio) - net 1.29 1.36 Debt to Total Capitalization - book 0.59 0.60 Debt to Total Capitalization - market 0.54 0.44 Total Asset to Equity Ratio 3.77 3.78 Current Ratio 0.68 0.62 Solvency Ratio 0.16 0.17 Profitability Margins EBITDA Margins 53% 53% Net Profit Margin 15% 15% Return on Equity 13% 15% Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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EXHIBIT I: AGING OF ACCOUNTS RECEIVABLE The table below shows the aging analysis of the Globe Group’s trade receivables as of September 30, 2025. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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EXHIBIT II: GLOBE SUSTAINABILITY Globe’s Sustainability practice is anchored on Globe Purpose, “Uplift Filipino Lives Everyday”. By aligning with global sustainability frameworks, standards, and principles such as the United Nations’ Sustainable Development Goals (UN SDGs) and UN Global Compact and industry sustainability ambitions, the company is able to collaborate with its stakeholders to deliver positive societal and environmental impact. Globe is focused on addressing its material topics by scaling the integration of its sustainability practices within its business units and across the value chain. Progress towards sustainability ambitions are disclosed in the Globe Sustainability website (https://www.globe.com.ph/about-us/sustainability.html) and in the annual Integrated Report (https://www.globe.com.ph/about-us/sustainability/integrated-report.html#gref). The recently published 2024 Integrated Report <IR> is guided by the principles of the following frameworks: ● Reference to the Global Reporting Initiative (GRI) standards ● International Integrated Reporting Council (IIRC) Framework ● Sustainability Accounting Standards Board (SASB) ● Task Force on Climate-related Financial Disclosures (TCFD) recommendations ● United Nations Global Compact (UNGC) Principles ● United Nations Sustainable Development Goals (UN SDGs) ● Securities and Exchange Commission (SEC) recommendations o Integrated Annual Corporate Governance Report (i-ACGR) o Sustainability Reporting Guidelines ● GSMA ESG Metrics for Mobile The annual integrated report is in compliance with the recommendations made in the Philippines SEC Memorandum Circular No. 4, series of 2019 on Sustainability Reporting for Publicly-Listed Companies (PLCs) and has undergone third-party External Assurance conducted by DNV AS Philippines Branch, covering: (1) select sustainability metrics (2) GHG accounting Net Zero Ambition Sustainability Metric/Target 2023 2024 Scope 1 and 2 Near term targets by 2030 from a 2021 base year ● 42% reduction in absolute Scope 1 and Scope 2 (market-based)greenhouse gas (GHG) emissions 330,297.90 tCO2e 230,009.34 tCO2e Scope 3 Near-term targets by 2030 from a 2021 base year ● 25% reduction in absolute Scope 3 GHG emissions from purchased goods and services, capital goods, fuel- and energy-related activities, use of sold products, and end-of-life treatment of sold products 1,064,676.30 tCO2e 664,922.00 tCO2e As of year end 2024, Globe has reached a 55.09% reduction in its Scope 1 and 2 emissions compared to its base year (2021) and 44.86% reduction in Scope 3 emissions (covered by SBTi near-term targets). Recalculation of base year GHG emissions inventory is ongoing until 2026. This process will incorporate updated emission factors and reflect changes in the business strategy, aligning with SBTi’s Corporate Net-Zero Standard and Near-Term Criteria. Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Externally assured 2025 Scopes 1, 2, and 3 data will be available Q2 of 2026. Please visit https://www.globe.com.ph/about-us/sustainability/race-to-net-zero for more information. 3Q 2025 Sustainability Updates The following are among the updates on the key initiatives of Globe addressing the material topics and corresponding key targets: ENVIRONMENT Sustainability Metric/Target 3Q 2025 Milestones Net Zero Reach net-zero greenhouse gas emissions across the value chain by 2050 as approved by the Science Based Target initiative (SBTi) Near Term: ● 42% absolute reduction target in Scope 1 and 2 ● 25% absolute reduction target in Scope 3 Long Term: ● 90% absolute reduction target in Scope 1 and 2 ● 90% absolute reduction target in Scope 3 ● 3,000 cell sites and other low-energy utilization facilities to be transitioned to renewable energy (RE) through the Retail Aggregation Program, with completion expected no later than 2028 https://www.globe.com.ph/about-us/newsroom/corporate/3000-c ell-sites-to-renewable-energy https://www.globe.com.ph/about-us/newsroom/sustainability/1st- telco-to-leverage-rap-via-acen ● Net-zero strategies, particularly renewable energy, of Globe featured in GSMA’s Mobile Net Zero: State of the Industry on Climate Action https://www.globe.com.ph/about-us/newsroom/sustainability/gs ma-climate-report-recognition SOCIAL Sustainability Metric/Target 3Q 2025 Milestones Digital Inclusion ● 96.6% of population covered at -115dBm by 4G by year 2027 ● Affordable and accessible fiber connection ● Formalized partnership with unconnected.org to deliver internet to remote schools and uplift last-mile communities in the Philippines https://www.globe.com.ph/about-us/newsroom/corporate/unconn ected-org-partnership-sustainable-internet ● Deepened commitment to digital inclusion by expanding mobile connectivity in Geographically Isolated and Disadvantaged Areas https://www.globe.com.ph/about-us/newsroom/corporate/connect ivity-underserved-ph-areas#gref https://www.globe.com.ph/about-us/newsroom/corporate/globe-c ommitment-gida-development#gref ● Reaffirmed role as a committed government partner in promoting digital inclusion and sustainable connectivity during the DICT’s Digital Bayanihan in Tawi-Tawi https://www.globe.com.ph/about-us/newsroom/corporate/dict-dig ital-bayanihan-tawi-tawi ● 96.13% of the Philippine population covered by Globe’s mobile network Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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https://www.globe.com.ph/about-us/newsroom/corporate/new-ne twork-builds Diversity, Equity, and Inclusion ● Foster an inclusive environment ● Hosted the 4th Networking Meeting of Philippine Business and Disability Network during the National Disability Rights Week https://www.globe.com.ph/about-us/newsroom/corporate/globe-h osts-pbdn-meeting Digital Skills ● Promote digital skills to enable the digital-first Filipino ● Strengthened partnership with University of Science and Technology of Southern Philippines (USTP) and Mindanao State University – Iligan Institute of Technology (MSU-IIT) through Globe’s Internship Program and Digital Thumbprint Program (DTP) https://www.globe.com.ph/about-us/newsroom/corporate/academ ic-industry-partnerships-northern-mindanao#gref ● Engaged STEM students in Electronics and Communications Engineering (ECE) and Computer Engineering in Globe Innovania 2025 to showcase their creativity and ideas https://www.globe.com.ph/about-us/newsroom/consumer/innova nia-2025-nationwide-expansion ● 3,500 students at Baliwag Polytechnic College (BTech) participated in Digital Thumbprint Program https://www.globe.com.ph/about-us/newsroom/sustainability/res ponsible-digital-citizenship-baliwag-polytechnic-college-student s Online safety ● Block spam and scam messages, and URLs and domains containing Child Sexual Abuse or Exploitation Materials (CSAEM) ● Over 484 million scam and spam messages and 5,707 malicious domains blocked in 1H 2025 https://www.globe.com.ph/about-us/newsroom/corporate/globe-b locks-484m-scam-messages-1h-2025 ● Achieved GSMA Open Gateway Certification for Globe's upcoming Number Verification API https://www.globe.com.ph/about-us/newsroom/corporate/gsma-c ertification-number-verification-api#gref ● Signed a Memorandum of Understanding with the Department of Information and Communications Technology (DICT) to establish a stronger, more integrated framework to curb fraud, scams, and other ICT-enabled crimes https://www.globe.com.ph/about-us/newsroom/corporate/globe-d ict-collab-to-fight-fraud-scams ● Globe named as chair of the Global Anti-Scam Alliance (GASA) Philippine Chapter https://www.globe.com.ph/about-us/newsroom/corporate/globe-c hairs-gasa-ph-chapter#gref ● Launched a new SMS Scam Shield feature on the GlobeOne app to help protect users from the growing threat of text-based phishing attacks https://www.globe.com.ph/about-us/newsroom/consumer/sms-sc am-shield-globeone Community engagement ● Empowering Communities Towards Sustainable ● AI for Learning through Globe’s Partnership with Khan Academy now in GlobeOne App https://www.globe.com.ph/about-us/newsroom/consumer/globe-k han-academy-ph-partnership Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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Development ● Virtualahan and The Spark Project featured in the Singtel Group Future Makers (SGFM) 2025 Impact Report, a regional review celebrating ten years of tech-driven social innovation https://www.globe.com.ph/about-us/newsroom/sustainability/sgf m-2025-impact-report#gref ● More than 3,000 volunteers participated in 91.7 Minutes of Service with 7 partner NGOs during GDay https://www.globe.com.ph/about-us/newsroom/corporate/gday-h onors-ka-globe-employees ● Supported the Ayala Foundation, Inc. (AFI) and the Philippine Eagle Foundation (PEF) as Globe celebrated its 50th year as a publicly listed company https://www.globe.com.ph/about-us/newsroom/corporate/globe-f uture-growth-sustainability-agenda ● Partnered with Provenance Art Gallery in support of the Hapag Movement https://www.globe.com.ph/about-us/newsroom/sustainability/glo be-provenance-art-gallery-partnership#gref ● Showcased inclusive innovation to uplift every Filipino with the launch of The Blueprint https://www.globe.com.ph/about-us/newsroom/consumer/globe-l aunches-the-blueprint https://www.globe.com.ph/about-us/newsroom/consumer/custom er-first-innovations ● Introduced ‘Just For You’, a hyper-personalized everyday experience in GlobeOne, GCash, and Facebook, that is responsive to the shifting routines, responsibilities, and digital habits of Filipino families https://www.globe.com.ph/about-us/newsroom/consumer/just-for -you-globeone-gcash-facebook#gref ● Elevated Kadayawan 2025 with Globe 5G https://www.globe.com.ph/about-us/newsroom/consumer/kadaya wan-2025#gref ● Powered connectivity at Higalaay Festival 2025 as Cagayan de Oro Marks 75th Charter Anniversary https://www.globe.com.ph/about-us/newsroom/consumer/globe-p owers-connectivity-higalaay-2025 ● Free calls and data for areas affected by Severe Tropical Storm Crising https://www.abs-cbn.com/news/business/2025/7/22/globe-offers- call-data-services-for-crising-hit-areas-1036 ● Activated multiple Libreng Tawag and Charging (LTLC) stations and provided relief assistance during Typhoons Crising, Dante, Emong, Super Typhoon Nando, Typhoon Opong https://www.globe.com.ph/about-us/newsroom/sustainability/typ hoon-crising-dante-emong https://malaya.com.ph/business/corporate/telecom-firms-come-to -the-rescue-of-areas-affected-by-storm-habagat/ https://thepost.net.ph/society/globe-accelerates-recovery-reaches- over-1000-families-with-ongoing-typhoon-emong-response/ https://www.globe.com.ph/about-us/newsroom/sustainability/glo be-restores-connectivity-super-typhoon-nando https://bilyonaryo.com/2025/09/24/globe-rolls-out-aid-and-suppo rt-in-nando-hit-areas/brand-news/ Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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https://www.mindanaotimes.com.ph/globe-ramps-up-restoration- efforts-in-typhoon-opong-hit-areas/ GOVERNANCE Sustainability Metric/Target 3Q 2025 Milestones Maintain or increase ESG Ratings ● Celebrated 50th year of public listing at the Philippine Stock Exchange (PSE) https://www.globe.com.ph/about-us/newsroom/corporate/globe-5 0th-year-public-listing-pse ESG-related recognitions ● Leading Employer for 2025 based on independent research conducted by the Institute of Research and Data Aggregation https://www.globe.com.ph/about-us/newsroom/corporate/globe-l eading-employer-2025#gref ● Multiple recognitions in the 10th annual Stevie® Awards for Great Employers and the Stevie® Awards for Technology Excellence https://www.globe.com.ph/about-us/newsroom/corporate/big-win s-at-two-stevie-award-competitions ● Overall Grand Winner at the HR Excellence Awards 2025, along with 11 awards across multiple categories https://www.globe.com.ph/about-us/newsroom/corporate/overall- grand-winner-hr-excellence-awards-2025#gref ● 5th consecutive HR Asia Award for Best Companies to work for https://hr.asia/awards/philippines-2025/ https://boholislandnews.com/2025/09/24/globe-clinches-5th-cons ecutive-hr-asia-award-for-best-companies-to-work-for/#google_v ignette ● Constituent company in the FTSE4Good Index Series for 10 consecutive years https://www.globe.com.ph/about-us/newsroom/corporate/10-year s-ftse4good-index ● Awardee at The Manila Times Sustainability Champions Awards https://www.manilatimes.net/2025/09/12/news/national/globe-tel ecom-nurtures-green-ecosystems/2183232 ● Gold Award in Inquirer ESG Awards for Globe Hapag Movement https://business.inquirer.net/547098/inquirer-esg-edge-impact-aw ards-2025-roster-of-winners https://newsinfo.inquirer.net/2105390/1st-inquirer-esg-awards-fet e-ph-firms-pushing-sustainability ● CDP Supplier Engagement Leader (A Score) and B score for Climate in CDP 2024 cycle https://www.globe.com.ph/about-us/newsroom/sustainability/sup plier-engagement-leader#gref Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436
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--- Information about Globe’s Sustainability and Social Responsibility initiatives, may be found at The Globe Newsroom https://www.globe.com.ph/about-us/newsroom/sustainability.html and The Globe Sustainability Page https://www.globe.com.ph/about-us/sustainability.html Docusign Envelope ID: 86CF4E3D-8D1B-4AA9-A286-388522A6C436