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2 Today’s Speakers

Mr. Dennis Anthony H. Uy Ms. Grace Y. Uy CEO and Co-Founder President and Co-Founder

Mr. Matthias Vukovich Mr. Jesus C. Romero Mr. Benjamin B. Azada Chief Financial Office Advisor Chief Operations Officer Chief Strategy Officer

1Q2021 Results Key Takeaways

Maintained industry-leading trifecta in 1Q2021 (vs. 1Q2020) with ✓ 83.6% revenue growth, 55.0% EBITDA margin and 23.1% ROIC

Continued strong EBITDA growth in 1Q2021 with 101.6% YoY growth ✓ (vs. 1Q2020)

500k new ports and 182k gross residential subscribers added in ✓ 1Q2021. Converge captured 48% of Fixed Broadband Net Adds

Improved our residential blended ARPU from P1,284 in 1Q2020 to ✓ P1,390 during 1Q2021

Residential business delivered 110% YoY revenue growth in 1Q2021, ✓ driven by strong subscriber additions and slightly improved ARPU

✓ Enterprise business grew 2% YoY in 1Q2021 6

Added ~500k FTTH Ports during 1Q2021

Extensive and Fast-growing Network

Homes Passed (MM) (1)(2)(3)

13% 25% 14% 28% 55% More than 7.1MM homes passed as of March 2021, almost 190 350 128 331 15.1 ✓ double from March 2020 ~2x

7.1 6.2 0.8 ~28% household coverage nationwide as of December 2020 3.2 0.8 3.6 ✓ (~50% in ) 0.8 5.3 0.8 2.4 2.8 6.3 (6) 2019 2020 1Q2020 1Q2021 2021E 2025E Targeting 55% household coverage (~15MM homes passed) by FTTH Homes Passed HFC Homes Passed ✓ 2025 Monthly Addition Run-rate (‘000s) (4) Household Coverage (5) (for last month in the period)

Number of Ports (MM) (1)(2) 100 177 66 165 ~4.0MM ports as of March 2021, 82% increase from March 7.5-8.0 ✓ 2020. Target 7.5-8MM ports by 2025 ~2x

4.0 3.5 0.8 ✓ ~165k port additions in March 2021 2.0 0.8 2.2 0.8 0.8 2.7 3.2 1.4 1.2 FTTH accounted for over 94% of port additions since 1Q2019 2019 2020 1Q2020 1Q2021 2021E 2025E ✓ and comprises ~79% of total ports as of March 2021 FTTH HFC Monthly Addition Run-rate (‘000s) (4) (for last month in the period) Notes: 1. FTTH homes passed is derived from the number of homes within a 300 meter radius from a network access point (“NAP”) that we have installed in a coverage area. Each NAP has eight or 16 ports, and one port serves one home 2. HFC homes passed refers to the number of homes and other residential units that are within a 200 meter radius from our HFC ports, and can be connected to our network 3. For FTTH, ratio of 1 port = 2 home passed; for HFC, ratio of 1 port = 1 homes passed 4. Run-rate based on additions in last month of each period (i.e. March for 1Q) 5. Household coverage is calculated as total homes passed over total number of homes, which is 25.3 million 8 6. Based on 2025E total households of 27.5 million according to MPA Quarterly Gross Adds at ~182k with Improved ARPU during 1Q2021

Number of Subscribers (‘000) 1.18MM subscribers as of March 2021, net 292 617 ✓ subscriber adds of ~143k in 1Q2021 ~2x 2x 1,182 Total gross subscriber adds of ~182k in Subscribers 1,038 217 1Q2021 representing 97% growth vs. 1Q2020 Since 2019 216 ✓ 530 616 199 823 210 965 331 406 Over 95% of gross adds are first-time fixed 2019 2020 1Q2020 1Q2021 ✓ broadband users in 1Q2021 FTTH HFC Yearly Gross Adds

Blended ARPU PHP (US$) (1) (2) Improved our 1Q2021 residential blended ✓ ARPU from 1Q2020 ($29) Steady ($27) ($27) ($27) ARPU 1,293 1,298 1,284 1,390 Expect stable ARPUs going forward, with ✓ fiber broadband viewed as a necessity in post- COVID new normal 2019 2020 1Q2020 1Q2021

Churn Rate 1.63 (%) 1.35 1.08 1.16 Churn Rate Monthly Churn decreasing to 1.16% in 1Q2021 Decline 0.39 ✓

1Q2020 2Q2020 3Q2020 4Q2020 1Q2021

Note: 1. Based on an FX rate of 1 US$ to 48.41 PHP 9 2. Monthly ARPU for our Residential Business is calculated by dividing (i) the revenue generated during a period by (ii) the average number of subscribers during that period, then dividing the quotient by the number of months during that period 1Q2021 Financial Update: Continuing to Achieve Trifecta of ~83.6% Growth, 55.0% Margin, ~23.1% ROIC

Revenue EBITDA (2) (1) ($324) (1) PHP MM PHP MM ($170) 15,652 8,218 3,024

($189) ($97) 9,139 4,665 ($105) 2,786 ($115) ($53) ($63) 5,055 12,628 5,547 3,052 ($61) ($62) 750 ($30) 2,549 ($31) ($39) ($19) 2,940 1,904 3,021 1,460 1,514 1,894 6,354 1,421 734 4,797 894 1,033 3,151 2,287 862 1,520 2016 2017 2018 2019 2020 1Q20 1Q21 2016 2017 2018 2019 2020 1Q20 1Q21 Residential Enterprise ROIC (3) EBITDA Margin (2) 55.0% Annualized 23% 52.5% 50.4% 51.0% 49.7% 50.1%

47.2% 12% 11% 8%

2016 2017 2018 2019 2020 1Q20 1Q21 APAC Broadband(4) Phils Telco (4) Global Broadband (4) Notes: 1. Based on an FX rate of 1 US$ to 48.41 PHP 2. 2020 EBITDA shown as reported EBITDA. 2016-2019 EBITDA shown as Pro Forma Adjusted EBITDA, where historical EBITDA is adjusted for Pro Forma Events and provision for contingencies, loss on direct write off of network materials and supplies and loss on fire 3. Return on Invested Capital is tax-adjusted (25% assumed effective tax rate) pro forma profit from operations divided by average invested capital. Invested Capital is the sum of our total equity and total debt (comprising loans payable (non-current and current portions)), less cash and cash equivalents and capital expenditures in progress 4. APAC broadband players includes Link Net, HKBN, and Time dotCom; Phils Telco includes PLDT, and Globe; Global broadband players include Telenet, Altice, Charter Communications and Liberty Global; Link Net and Time dotcom; ROIC refers to 10 LTM as of 1Q2021 P&L Highlights

Consolidated P&L PHP Key Highlights For the three months ended March 31 2021 2020 ❖ Bandwidth and leased line costs (in millions) Revenue 5,547 3,021 accounting for 5.0% of 1Q2021 Cost of Services (2,330) (1,440) revenues vs. 10.0% of 1Q2020 Depreciation and amortization 779 444 Network materials and supplies used 460 230 revenues resulting in increased Amortization of deferred contract costs 350 148 Gross Profit margin of 58.0% in Bandwidth and leased line costs 277 303 Service fees 167 147 1Q2021 Personnel costs 127 57 Others 170 111 ❖ Provision for impairment of trade Gross profit 3,217 1,580 Gross profit margin 58.0% 52.3% and other receivables of PHP251 General and administrative expenses (935) (522) million in 1Q2021, representing Personnel costs 295 247 Commission expense 120 36 4.5% of total revenues Outside services 86 30 Taxes and licenses 71 18 ❖ EBITDA Margin expanding to Others 363 191 Provision for impairment of trade and other receivables (251) (152) 55.0% Other income and expenses, net 66 58 Profit from operations 2,096 965 ❖ Net income almost tripled YoY to Finance costs (133) (145) Income taxes (414) (246) P1,549 million in 1Q2021 Profit after income tax for the year/ period 1,549 574 Net income after tax margin 27.9% 19.0%

Reported EBITDA 3,052 1,514 Reported EBITDA margin 55.0% 50.1% 11 Well Funded CAPEX Plan

US$ (PHP)(1) Fully Funded Capex Plan in 2021 Well-Funded between 2022-25

PHP230MM US$599MM Net Debt (PHP29Bn) as of Mar 2021 Sufficiently funded 1Q2021 CAPEX: with current funding PHP5.3Bn (vs. 1Q2020 – PHP2.4Bn) Sufficiently funded US$414MM with US$207MM (PHP20Bn) current (PHP10Bn) funding US$311MM 27% (PHP16Bn)(2)

22% 52% 56%

22% 21% Available Undrawn Funding Undrawn 2020 Actual 2021 Operating 2022-25 Operating Funding Cash Debt Available Debt Cash Flow Capex Plan Cash Flow Available Capex Capex Plan Facilities Facilities • Strong cash • PHP10Bn of • Current • PHP10Bn of • 5 Year Vision: • We expect to fund most of capex flow cash as of funding financial debt Reach 55% of from 2022 to 2025 from operating Backbone Access Others generation Mar 2021 largely as of Mar the Philippine cash flows due to focus sufficient 2021 households by on high for 2021 2025 ROIC • PHP29Bn capex undrawn term-loans as of Mar 2021

Notes: 1. Based on an FX rate of 1 US$ to 48.41 PHP (ave) for 1Q2021 2. Includes paid and accrued capital expenditures relating to property, plant, and equipment, right-of-use assets, and intangibles 12

Completed Connecting Visayas and Mindanao to Backbone

VisMin Backbone Expansion Substantially Completed

• Added c. 9,600 kilometers of fiber in 1Q2021, resulting to Converge’s nationwide backbone network of 64,600 kilometers(1) (69,000 kilometers by April 2021) • Domestic fiber backbone connected to Visayas and Mindanao last April 2021 • Ongoing links to Panay, Negros, Leyte, and Bohol • Target of full commercial launch by 2H2021 still on track

Note: 1. Total nationwide fiber network length includes Converge’s backbone and distribution network, it does not include cables deployed in the last mile network.

Submarine Cable Completed Planned Ongoing Areas of Service as of March 2021 14 Completed Connecting Visayas and Mindanao to Backbone

Masbate Cebu Cagayan De Oro

15 International Trans-Pacific Bandwidth Investment: “Bifrost”

16 Consistent Fiber Broadband Experience for Everyone

100% PURE FIBER NETWORK #1 CONVERGE JANUARY 2021 FEBRUARY 2021 MARCH 2021

35 FOR P1,500, C. 2 MILLION NEW PORTS NO DATA-CAP MBPS Built over last 12 months(1)

Notes: (1) Total number of c. 1,916,000 million ports built nationwide between May 2020 and April 2021 (last 12 months) 17 Launch of New Enterprise Products

Strong Reception of Tailored SME Plan “flexiBIZ” in 1Q2021

✓ ~1,400 SME gross adds in 1Q2021 ✓ Daytime or Peak plans (50-300 Mbps) ✓ Entry level plans at P2,000 and P3,000

Market Education

Road Side Advertising Webinars

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Enhancing Omni-Channel Initiatives (Online + Offline)

…While Ensuring Real-Time & Real-Person Continuously Improving Mobile Application Features Customer Care

# of Contact Agents and ACR Self Help 900 100%

750 90% 600 80% 450 70% 300

150 60%

- 50% 1Q20 2Q20 3Q20 4Q20 1Q21

FTE ACR (%)

Improved Answer Call Rate ✓ (ACR)(1) to 94% in 1Q2021 Registered Subscribers % of total residential subscribers 500,000 36% 400,000 33% Added more than 150 new 300,000 433,292 agent seats to cater to growing 200,000 342,635 ✓ subscriber base 100,000

4Q20 1Q21 Notes: 1. Average Call Rate measured based on average for whole operation hours 20 Commitment to Improving ESG Initiatives

Contribution Release of Maiden Sustainability Report to UN SDGs

21 Online Learning Partnership with Department of Education

• Provide internet access exclusively for online learning • DepEd TV channel to be aired through Pacific KableNet

22 Q&A Thank you!

www.convergeict.com

Dennis Anthony Uy Converge ICT Solutions Inc.

@TheFiberMaster @ExperienceCNVRG Appendix 1Q2021 Consolidated Income Statement

For the three months ended March 31 YoY change 2021 2020 YoY change % (in P millions) Revenues…………………………………………………….……………….. 5,547 3,021 2,526 84% Residential………………………………………………………………………………… 4,797 2,287 2,510 110% Enterprise…………………………………………………………………………………. 750 734 16 2% Cost of services………………………………………………………………………………. (2,330) (1,440) (890) 62% Gross profit 3,217 1,580 1,636 104% General and administrative expenses (935) (522) (414) 79% Provision for impairment of trade and other receivables (251) (152) (99) 65% Other income (loss), net 66 58 8 13% Profit from operations 2,096 965 1,131 117% Finance costs (133) (145) 12 -8% Profit before income tax 1,963 820 1,143 139% Income tax expense (414) (246) (167) 68% Profit after income tax for the year/ period 1,549 574 976 170% Other comprehensive income…………………………………………………………… - (13) 13 100% Total comprehensive income 1,549 560 989 177%

Profit after income tax 1,549 574 Finance costs 133 145 Income taxes 414 246 Depreciation and amortization – cost of services 779 444 Depreciation and amortization – general and administrative expenses 49 40 Amortization of subscriber acquisition costs 128 65 EBITDA………………………………………………………………………... 3,052 1,514 EBITDA Margin……………………………………………………………… 55.0% 50.1%

26 1Q2021 Consolidated Balance Sheet

As of the period Change % Mar 31 2021 Dec 31 2020 Change (in P millions) Current assets………………………………………………………………… 19,566 21,271 (1,705) -8% Cash and cash equivalent……………………………………………………… 9,503 12,957 (3,454) -27% Trade and other receivables, net……………………………………………… 2,594 2,173 421 19% Network materials and supplies……………………………………………….. 2,624 2,031 593 29% Other current assets……………………………………………………………. 4,845 4,109 736 18%

Noncurrent assets……………………………………………………………. 41,280 35,441 5,839 16% Property, plant and equipment, net…………………………………………… 32,740 28,127 4,613 16% Intangible assets, net…………………………………………………………… 1,097 1,155 (58) -5% Other noncurrent assets……………………………………………………….. 7,442 6,160 1,282 21%

Total assets 60,846 56,712 4,134 7%

Current liabilities…………………………………………………………….. 19,526 15,385 4,141 27% Trade and other payables……………………………………………………… 16,892 13,253 3,639 27% Loans payable, current portion………….…………………………………….. 650 731 (81) -11% Other current liabilities…………………………………………………………. 1,983 1,401 582 42%

Noncurrent liabilities……………………………………………………..… 11,996 13,552 (1,556) -11% Loans payable, net of current portion………………………………………… 9,083 10,583 (1,500) -14% Other noncurrent liabilities…………………………………………………….. 2,913 2,969 (56) -2%

Total liabilities 31,522 28,937 2,585 9%

Total equity 29,324 27,775 1,549 6%

Total liabilities and equity 60,846 56,712 4,134 7%

27 1Q2021 Consolidated Cash Flow

For the three months ended March 31 YoY change YoY change % 2021 2020 (in P millions) Cash flow from operating activities Profit before income tax...………………………………………………………… 1,963 820 1,143 139% Adjustments for operating income……..………………………………………… 1,507 877 630 72% Adjustments for assets and liabilities…………………………………………….. (1,243) (442) (801) 181% Cash from operations...……………………………………………………………. 2,226 1,255 971 77% Interest received...…………………………………………………………………. 3 13 (10) -77% Net cash from operating activities 2,228 1,268 960 76%

Cash flow from investing activities Acquisition of property, plant, and equipment……..…………………………… (3,929) (4,662) 733 -16% Acquisition of intangible assets…………………………………………………… (6) (79) 73 -92% Net cash (used in) investing activities (3,935) (4,741) 806 -17%

Cash flow from financing activities Proceeds from issuance of convertible preferred shares……………...... - 4,568 N/M N/M Payment of share issuance costs……………………………………………….... - (2) N/M N/M Proceeds from loans payable……………………………………………………... - 3,474 N/M N/M Payment of loans payable…………………………………………………………. (1,581) (366) (1,215) 332% Interest paid on loans payable……..…….………………………………………. (120) (276) 156 -57% Payment on lease liabilities……..………………………………………………… (35) (66) 31 -47% Interest paid on lease liabilities…………………………………………………... (30) (30) - 0% Net cash from/(used in) financing activities (1,767) 6,832 (8,599) -126%

Net increase/(decrease) in cash and cash equivalents (3,474) 3,359 (6,833) -203%

Cash and cash equivalents, beginning…………………………………………… 12,957 6,233 6,724 108% Effects of exchange rate changes in cash and cash equivalents……………… 19 (17) 36 -212%

Cash and cash equivalents, ending 9,503 9,575 (72) -1% 28 Quarterly Operational Performance Summary (1/2)

2020 2021 YoY Change % 1Q 2Q 3Q 4Q 1Q 1Q2020 vs 1Q2021 Residential Revenues 2,287 2,691 3,435 4,215 4,797 110% FTTH 1,614 1,992 2,679 3,509 4,086 153% HFC 673 698 756 707 711 6%

Customers 615,466 731,563 900,531 1,038,321 1,181,723 92% FTTH 405,784 512,597 673,005 822,791 964,644 138% HFC 209,682 218,966 227,526 215,530 217,079 4%

Homes Passed 3,599,533 4,111,661 5,112,591 6,177,845 7,172,033 99% FTTH(1) 2,789,112 3,301,240 4,281,768 5,342,008 6,330,536 127% HFC(2) 810,421 810,421 830,823 835,837 841,497 4%

Ports 2,204,977 2,461,041 2,971,707 3,506,841 4,006,765 82% FTTH(3) 1,394,556 1,650,620 2,140,884 2,671,004 3,165,268 127% HFC(4) 810,421 810,421 830,823 835,837 841,497 4%

Household Coverage(5) (%) 14.5% 16.6% 20.6% 24.5% 28.3% 95%

ARPU(6) 1,284 1,287 1,352 1,408 1,390 8% FTTH 1,417 1,405 1,467 1,516 1,481 5% HFC 1,046 1,033 1,046 1,044 1,014 -3%

Customer Churn(7) (%) 0.39 1.08 1.63 1.35 1.16 197% FTTH 0.34 0.78 1.28 0.61 1.14 235% HFC 0.49 1.74 2.55 3.84 1.27 159%

Port Utilization(8) (%) 27.9 29.7 30.3 29.6 29.5 6% FTTH 29.1 31.1 31.4 30.8 30.5 5% HFC 25.9 27.0 27.4 25.8 25.8 0% Notes: (1) FTTH homes passed is derived from the number of homes within a 300-meter radius from a network access point (“NAP”) that we have installed in a coverage area. Each NAP has eight or sixteen ports, and one port serves one home. (2) HFC homes passed refers to the number of homes and other residential units that are within a 200-meter radius from our HFC ports, and can be connected to our network. (3) The number of FTTH ports installed represents both activated FTTH connections and ports available for immediate activation once a new subscription is approved. (4) The number of HFC ports installed refers to a slot on a network device allowing for the transmission of data between our HFC network and the equipment at the customer premises. (5) Household coverage is calculated as total homes passed over total number of homes in the , which is estimated at 25.3 million as of March 2021, extrapolated from MPA data. (6) Monthly ARPU for our Residential Business is calculated by dividing (i) the revenue generated during a period by (ii) the average number of subscribers during that period, then dividing the quotient by the number of months during that period. The average number of subscribers during a period, is calculated by the sum of the subscribers at the beginning and at the end of the period, divided by two. (7) Blended churn rate refers to the combined FTTH and HFC churn rate. Churn rate for our Residential Business is calculated by dividing (i) the sum of the number of permanent subscriber discontinuations in a month, by (ii) the average number of subscribers during the respective month and multiplying the result by 100%. The average number of subscribers during a month, is calculated by the sum of the subscribers at the beginning and at the end of the month, divided by two. 29 (8) Our port utilization rates for our FTTH network is our number of FTTH subscribers as a percentage of total FTTH ports and for our HFC network is our number of HFC subscribers as a percentage of HFC homes passed. Quarterly Operational Performance Summary (2/2)

2020 2021 YoY Change % 1Q 2Q 3Q 4Q 1Q 1Q2020 vs 1Q2021

Enterprise Revenues 734 778 752 760 750 2%

Customers 10,378 10,498 10,953 11,090 12,400 19%

ARPU(9) 23,910 26,596 21,675 23,002 21,269 -11%

Customer Churn(10) (%) 0.30 0.33 0.49 1.61 0.72 140% Notes: (9) ARPU for our Enterprise Business is calculated by dividing (i) the revenue generated during a period by (ii) the average number of enterprise users during that period, then dividing the quotient by the number of months during that period. The average number of enterprise users during a period, is calculated by the sum of the enterprise users at the beginning and at the end of the period, divided by two. (10) Customer churn rate for our Enterprise Business is calculated by dividing (i) the sum of the number of permanent customer deactivations in a month, by (ii) the average number of customers during the respective month and multiplying the result by 100%. The average number of customers during a month is calculated by the sum of the circuits at the beginning and at the end of the month, divided by two.

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