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Download Rate 82 Sessions Conducted 526 Childcare Leaves Credited 81% Access Rate 42% Activated Accounts Vs Integrated Report 2020 1 Our Story Inspiring Resilience Integrated Report 2020 2 Integrated Report 2020 Our Story About this Report (102-46, 102-47, 102-49, 102-50, 102-51, 102-54) SM Prime Holdings, Inc. presents the first annual Integrated Report and the ninth edition following the Global Reporting Initiative (GRI) Framework. This Integrated Report features the International Integrated Reporting Council (IIRC) framework that uses the economic, environment, social and governance pillars of sustainability in combination with the six capitals: Financial, Manufactured, Intellectual, Environment, Human and Social and Relationship. The financial and non-financial information contained herein covers reporting from January to December 2020 and discusses SM Prime’s assets where the business has an organizational boundary. The report shares the performance and consolidated data of its malls, residences, leisure resorts, offices, hotels and convention centers. This report has been prepared in accordance with the GRI Standards: Core Option and the Task Force on Climate-related Financial Disclosures alongside multiple internationally recognized frameworks such as the UN Sustainable Development Goals, UN Global Compact and the Sendai Framework for Disaster Risk Reduction (2015-2030). This report is entitled Inspiring Resilience to describe the year in terms of the Company’s strength, dedication and response to Cover Photo: any challenge. SM Mall of Asia’s iconic globe reflects a public health and safety message in line with #SafeMallingatSM. The online version of the 2020 SM Prime Integrated Report is Next Page: available at the SM Prime website (www.smprime.com). Part of the Bike-Friendly SM program, commuters ply the new bike lane at the Feedback on the report may be sent to [email protected]. SM Mall of Asia Complex. Integrated Report 2020 3 Our Story 1 Integrated Report 2020 Our Story 004 Our Story 051 Securing our Stakeholders 059 Our 6 Capitals: Prime Assets and Ideas 106 The Practice of Good Governance 119 Global Guidance 123 Financial Reports Integrated Report 2020 2 We are SM PrimeOur Story Our Story Securing our Stakeholders Our 6 Capitals: Prime Assets and Ideas The Practice of Good Governance Global Guidance Financial Reports 1 Integrated Report 2020 OurOur Story Story This section serves as an introduction to SM Prime, our mission and vision as well as our core values. SM Prime proudly presents our Integrated Value Creation Process alongside the leadership roster and our commitments to sustainability. In addition, the process of creating our first Integrated Report is discussed in this section. Integrated Report 2020 2 Our Story 3 Integrated Report 2020 Our Story About SM Prime Holdings Inc. (102-1, 102-2, 102-7, 102-9) From a mall developer and operator, SM Prime Holdings, Inc. (SM Prime) has grown to become one of Southeast Asia’s largest integrated property developers. We offer innovative and sustainable Lifestyle Cities through the development of malls, residences, offices, leisure resorts, hotels and convention centers. Incorporated in 1994, SM Prime is now the largest in terms of assets in the Philippines. The SM Supermalls, our mall division, has expanded our reach to serve millions with 76 malls in the country and 7 in China, spanning a total of 9.9 million square meters of Gross Floor Area (GFA). We are proudly in partnership with 17,937 mall tenants in the Philippines and 1,857 in China. SM Prime goes beyond mall construction and management through our units and subsidiaries. SM Development Corporation is our residential business component that sells affordable condominium units while our commercial business unit, the Commercial Property Group, is engaged in the development and leasing of office buildings in in key business districts. SM Leisure Resorts Residences serves the tourism industry and its projects complement environmental sustainability and the SM Hotels and Conventions Corporation business unit develops and manages various hospitality facilities and exhibition halls across the country. As a responsible corporate citizen, SM Prime endeavors to be a catalyst for economic growth by enriching the lives of millions of Filipinos. Simultaneously an environmental steward, we ensure that our core business strategy hinges on sustainability principles that contribute to value creation over time. IntegratedIntegrated Report Report 2020 2020 44 OurOur Story Story Our vision is to build and manage innovative integrated property developments that are catalysts for a better quality of life. Mission We will serve the ever-changing needs and aspirations of our customers, provide opportunities for the professional growth of our employees, foster social responsibility in the communities we serve, enhance shareholder value for our investors and ensure that everything we do safeguards a healthy environment for future generations. What We Integrity Stand For Hardwork Innovation Teamwork Sustainability 5 IntegratedIntegrated Report 2020Report 2020 8IntegratedSM PRIME Our Story Approach to the Value Creation Process An essential part of the IR framework, the Integrated Value Creation table features the interrelated relationship among our Company resources, our business activities and the overarching strategies to achieve our goals. Integrated Report 2020 6 Our Vision Our Story Our Mission To build and manage innovative integrated property developments We will serve the ever-changing needs and aspirations of our customers, provide that are catalysts for a better quality of life opportunities for the professional growth of our employees, foster social responsibility in the communities we serve, enhance shareholder value for our investors and ensure that everything we do safeguards a healthy environment for future generations. Inputs Outputs Outcomes • Capital expenditure: PHP 59.6B • Global COVID-19 Crisis • Total Assets: PHP 722.4B Business viability to ensure the funding of future projects • Total equity: PHP 310.7B External • Climate Change • Total Revenue: PHP 81.9B • Retail bond offering over 3 years: PHP 100B Factors • Investor Confidence • Operating Income: PHP 29.1B Funds to build new projects and trigger business growth • Government Regulations • Customer Trust • Sustainable designs and construction • 3 LEED Gold Certified buildings and 1 Gold Pre-certified building Safe and sustainable properties that generate business, provide employment, create • SM Prime properties situated in strategic locations nationwide • 2 new SM Supermalls in Mindanao customer satisfaction and promote green practices • Mobility solutions • 19.6km bike lanes, 83 repair stations and 522 bike racks good for 5k bikes across all SM Supermalls Urbanization and increased economic activity in provincial areas • Mobile and web-based application development • SM LIFE app and Trace Together for workplace health and safety Efficient and innovative policies and systems to support our Company's business • Organizational manuals and procedures Strategic • Strategic Growth • 53 BCMS certified (ISO 223001 compliant) SM Supermalls continuity objectives • Prudent Financial Management Focus • SM Disaster Resilience Policy Framework • Integrity and Good Governance Universally-designed properties that are pioneering, accessible, resource efficient Areas • Sustainable and Resilient Investments and profitable • Land Acquisition and Optimization • Customer-centric Innovation • Water consumption: 12M cum • 36% of wastewater is recycled for reuse in mall operations Reduced carbon footprint and cost-savings • Greenhouse gas emissions: 968,778 MT CO2 • 28% decrease in electricity consumption in all SM Prime properties • Solid waste management: 94.7M kg • 100% attendance of pollution control officers in Basic Occupational Health and Safety training Safe communities around our properties • Marine Protected Areas (MPA) • 3 coves declared Marine Protected Areas: Santelmo, Pico de Loro and Entayo • 22 SM Supermalls with rainwater catchment basins • Floodwaters are diverted from the surrounding communities Marine diversity conservation and management • 10 SM Supermalls with solar panels on their roof decks • 9,620MWh generated solar power provides renewable energy • Total number of employees: 9,576 • 1:1 ratio of men:women in top management Accelerated employee growth and the assurance of business continuity • Be PRIME core values Business • Market Research • PHP 13.7M budget spent on employee learning and development • SM LIFE (Life Integration for Employees) • Climate and Disaster Risk Assessment • PHP 999.6M for employee compensation during the quarantine period Nurtured employees that work with a happy heart • Group Inclusion and Diversity Agenda (GIDA) Activities • Resilient Designs • PHP 6.6M worth of safety supplies provided to employees • COVID-19 response to employees • Property Construction • 70-20-10 blended learning approach Improved quality of life, health and safety of employees • Operational Performance and Hospitality Services • Stakeholder Engagement • Life Cycle Assessment • MSME tenants and suppliers affected by the pandemic: 12,017 • PHP 23.30B total amount waived in rental relief Livelihood preservation • Adopt-a-River program with DENR • PHP 333.9M total donation and financial assistance to agency personnel and LGUs • SM Cares advocacies and partnerships • PHP 218M for the Adopt-a-River program where 35,000 kg of trash was recovered Strong multi-sector relationships • PHP 95.2M in financial support, CSR marketing campaigns and PR value Key Capitals
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