ANNEX “D”

SAN MIGUEL CORPORATION
2023
PRINCIPAL PROPERTIESCompany Name / Subsidiary

Address

Rented / Owned

Condition

40 San Miguel Ave., Mandaluyong City

Owned

Good

Owned
Owned

Good
Good

Owned

Good

Bacolod Brewery

Marulas, Valenzuela City, Metro Manila
Brgy. Quebiawan, McArthur Highway, San Fernando,
Pampanga
Sta. Rosa Industrial Complex, Brgy. Pulong Sta. Cruz,
Sta. Rosa, Laguna
Brgy. Granada, Sta. Fe, Bacolod City, Negros Occidental

Owned

Good

Mandaue Brewery
Davao Brewery
Cagayan de Oro Brewery

National Highway, Brgy.Tipolo, Mandaue City
Brgy. Darong, Sta. Cruz, Davao del Sur
Sta. Ana, Tagoloan, Misamis Oriental

Owned
Owned
Building & FacilitiesOwned; Land-Rented

Good
Good
Good

Owned

Good

Owned
Owned
Owned

Good
Good
Good

Owned

Good

Owned
Owned
Owned

Good
Good
Good

Region OfficeCentral North Luzon Area
Central North Luzon Area
Guiguinto Sales Office

SMC Complex, Brgy. Quebiawan, McArthur Highway,
San Fernando, Pampanga
Carmen East, Rosales, Pangasinan
Caranglaan Dist., Dagupan City, Pangasinan
Naguilian Road, San Carlos Heights, Brgy. Irisan, Baguio
City, Benguet
Pennsylvania Ave., Brgy. Madayegdeg, San Fernando,
La Union
Brgy. San. Fermin, Cauayan, Isabela
National Road, Brgy. Mabini, Santiago City, Isabela
San Andres St., San Angelo Subdivision, Sto. Domingo,
Angeles City, Pampanga
Brgy. 22, San Guillermo, San Nicolas, Ilocos Norte
Brgy. Tablac, Candon City, Ilocos Sur
Maharlika Highway, Brgy. Sta Maria, Lallo, Cagayan
Cagayan Valley Rd., Brgy. Sta. Cruz, Guiguinto, Bulacan

Owned
Owned
Owned
Owned

Good
Good
Good
Good

San Isidro Sales Office

Gapan-Olongapo Rd., Poblacion San Isidro, Nueva Ecija

Owned

Good

Caloocan Sales Office

A. Cruz cor S. Asistio St., Brgy. 95, East Grace Park,
Caloocan City
Honorio Lopez Blvd., Guidote St., Tondo, Manila
Brgy. Mangga, Cubao , Quezon City
portion of Tondo S.O. - Buendia cor. Guidote St., Tondo
ManilaNovaliches S.O. - Quirino Highway, Brgy. Kaligayahan,
Novaliches, Quezon City, Metro Manila
489 Pureza St. corner Lardizabal St., Barangay 425, 489
Pureza, Sta. Mesa, Manila
M. Carreon St., Brgy. 864, Sta. Ana District, Manila
Manila East Rd., Brgy. Dolores, Taytay, Rizal
Dr. A. Santos Ave., Bgy. San Dionisio, Parañaque City
No. 100 Bernabe Subd., Brgy. San Dionisio, Sucat,
Parañaque City, Metro Manila
Silangan Exit, Canlubang, Calamba City, Laguna

Owned

Good

Owned
Owned
Owned

Good
Good
Good

Owned

Good

Owned

Good

Owned
Owned
Owned
Owned

Good
Good
Good
Good

Owned

Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

March 25, 2028

The lease may be renewed for a period of 25
years upon such terms and conditions
mutually agreed upon by the parties

FOOD AND BEVERAGE BUSINESS
1

SAN MIGUEL BREWERY, INC.
A. DOMESTICHead Office
Office Space
Production Facilities
Polo Brewery
San Fernando Brewery
Sta. Rosa Brewery

Sales/Area Offices and Warehouses
San Fernando Region Office
Carmen Sales Office
Dagupan Sales OfficeBaguio Sales Office
Carlatan Sales OfficeCauayan Sales OfficeSantiago Sales Office
Region Office (Angeles Sales Office)Tondo Sales Office
Cubao Sales Office
Portion of Tondo Sales OfficeNovaliches Sales OfficePureza Sales Office
Sta. Ana Sales Office
Taytay Sales Office
Sucat Sales Office
Parañaque Sales Office
Canlubang Sales Office1,230,428.97

Page 1Company Name / Subsidiary

Address

Rented / Owned

Condition

Lucena Sales Office

Maharlika Highway, Brgy. Isabang, Lucena City, Quezon

Owned

Good

Gumaca Sales Office
Naga Sales Office

Maharlika Highway, Brgy. Villa Bota, Gumaca, Quezon
Maharlika Highway, Brgy. Concepcion Grande Pequeña,
Naga City, Camarines Sur
Brgy. Mandaragat, Puerto Princesa City, Palawan
Aurora Quezon and Calderron St., Brgy. Labangan, San
Jose, Occidental Mindoro
National Rd., Brgy. Balagtas, Batangas City, Batangas
Ayala Highway, Brgy. Balintawak, Lipa City, Batangas
Brgy. Granada, Sta. Fe, Bacolod City, Negros Occidental

Owned
Owned

Good
Good

Owned
Owned

Good
Good

Owned
Owned
Owned

Good
Good
Good

Puerto Princesa Sales Office
San Jose Sales OfficeBatangas Sales OfficeSouth Luzon Area
Bacolod Region Office (Bacolod Sales
Office)Iloilo Sales OfficeHimamaylan Sales Office

Warehouse

Muelle Loney St., Brgy. Legaspi, Iloilo City
Owned
National Hi-way, Brgy. 4, Himamaylan City, Negros
Owned
Occidental
Flores St., Brgy. Sum-Ag, Bacolod City, Negros
Owned
Occidental
Brgy., Camansi Norte, Numancia, Aklan
Owned
Brgy. Libas, Roxas City, Capiz
Owned
Meliza St. Brgy. Zamora, Iloilo City
Owned
National Highway, Brgy. Tipolo, Mandaue City
Owned
Brgy. Darong Sta. Cruz, Davao del Sur
Owned
National Highway, Bgy. Ulas, Talomo, Davao City
Owned
National Highway, Brgy. Magugpo, Tagum City
Owned
Sergio Osmeña, Brgy. Poblacion, Koronadal City
Owned
National Highway, Brgy. Lagao, Gen. Santos City
Owned
National Highway, Brgy. Luyong Bonbon, Opol, Misamis
Owned
Oriental
R.T. Lim Blvd., Baliwasan, Zamboanga City
Owned
Brgy. Bongtod, Tandag City, Surigao del Sur
Owned
J.P. Rizal Ave., Poblacion, Digos City
Owned
R. Calo St., Fort Poyohan, Butuan City
Owned
Cabanatuan S.O. - No. 140 Duran Compound, Maharlika Land & Building-Rented
Highway, Brgy. Bitas, Cabanatuan City
Region Office - #578 P. Burgos St. Cabanatuan City,
Land & Building-Rented
Nueva Ecija
Barangay Sta. Rita, Guiguinto, Bulacan
Warehouse Parking
space - rented
Valenzuela S.O. - Bldg. 23 Plastic City Cpd., #8 T.
Land, Warehouse andSantiago St., Brgy. Canumay, Valenzuela City, Metro
Open Space-Rented
ManilaKaingin Rd., Brgy. Apolonio Samson, Balintawak,
Land, Warehouse andQuezon City
Open Space-Rented
Kaingin Rd., Brgy. Apolonio Samson, Balintawak,
Warehouse-Rented
Quezon City
685 Tandang Sora Ave., Quezon City
Warehouse-Rented

Pasig Sales Office

Pasig S.O. - Mercedes Ave., Pasig City, Metro Manila

Masbate Sales Office

Bgy. Pinamarbuhan, Mobo, Masbate

NegrosNumancia Sales OfficeRoxas Sales Office
IGBR Region Office
CV North & South Region Offices
Region Office
Davao Sales Office
Region Office
Mindanao
Region Office
Opol Sales Office
Zamboanga Sales Office
Mindanao
Mindanao
Butuan Sales OfficeCabanatuan Sales Office
Region Office
Warehouse
Valenzuela Sales Office

Warehouse (Balintawak Sales Office)WarehouseLand & WarehouseRented
Land, Warehouse andOpen Space-Rented

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Renewable upon mutual agreement of bothparties.
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good

82,104.58

January 31, 2025

Good

42,835.20

May 31, 2024Good

381,389.04

May 31, 2024

Good

397,567.06

April 30, 2024Good

780,995.00

September 30, 2025Good

252,510.00

November 30, 2025

Good

163,035.71

May 31, 2024

Good

1,464,433.70

December 31, 2024

Good

204,899.63

March 31, 2026

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
The Contract is subject to renewal or
extension under such terms and conditions as
may be mutually agreed upon between theparties in writing.
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Page 2Company Name / Subsidiary

Address

Rented / Owned

Condition

Legazpi S.O. - Tahao Street, Bgy. Gogon, Legaspi City,
Bicol
Dasmarinas S.O. - Brgy. Langkaan II, Governors Drive,
Dasmarinas, Cavite
Warehouse No. 5, 7 and 8, The Warehouse Malagasang
II-C, City of Imus, Cavite
Bulan S.O. -Sitio Pawa, Brgy. Lajong, Bulan, Sorsogon

Warehouse, Office &Open Space-Rented
Warehouse-Rented

Good

Dumaguete Sales Office

Pila S.O. - Brgy. Bulilan Norte, National Highway, Pila,
LagunaDumaguete Region Office - Brgy. Pulang Tubig,
Dumaguete City
West Rovira Road, Pulantubig, Dumaguete City

Iloilo Sales Office
Catbalogan Sales Office

Legazpi Sales OfficeDasmariñas Sales Office
Imus Sales Office
Bulan Sales Office
Pila Sales OfficeDumaguete Region Office

Catbalogan Sales OfficeTagbilaran Sales OfficeMonthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

314,067.60

December 31, 2023

Good

501,187.50

January 31, 2024

Warehouse-Rented

Good

793,990.20

April 30, 2026

Warehouse-Rented

Good

125,812.50

October 31, 2025

Warehouse-Rented

Good

267,857.14

September 30, 2024

Land & Land
Improvement-Rented
Warehouse-Rented

Good

77,510.16

December 31, 2024

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable at the option of the lessee

Good120,393.00

December 31, 2023

Brgy. Pagduque, Dumanas, Iloilo

Warehouse-Rented

Good

377,348.71

June 15, 2024

Samar Region Office - San Bartolome St., Catbalogan,
Samar
Samar Region Office - San Bartolome St., Catbalogan,
Samar

Warehouse & OpenSpace-Rented
Warehouse, Office
Space & Open SpaceRented
Warehouse-Rented

Good

96,600.00

November 30, 2031

Good

196,350.00

November 30, 2031

Good

160,714.29

October 31, 2024

Portion of LandRented/Portion of LandOwned
Warehouse Facilities
and Office-Rented
Building-Rented

Good

280,447.36

May 31, 2024

Good

468,750.00

September 30, 2026

Good

127,145.53

August 31, 2032

Tacloban Sales Office/Region OfficeTagbilaran S.O. - Tomas Cloma Ave., Taloto District,Tagbilaran City, Bohol
Fatima Village, Tacloban City, Leyte

Butuan Sales OfficeMontilla Boulevard, Villa Kananga, Butuan City

Region OfficeBrgy. Aguada, Ozamiz City

Liloy Sales Office

Liloy S.O. - Baybay, Liloy, Zamboanga del Norte

Warehouse-Rented

Good75,892.86

September 30, 2024

Dipolog Sales Office

Dipolog S.O. - Sta. Filomena, Dipolog City

Warehouse-Rented

Good

50,892.86

September 30, 2025

Mariveles, Bataan

Building & FacilitiesOwned;
Land-Rented
Owned
Owned
Owned
Owned
Owned
Owned
Owned

Good

661,029.65

April 30, 2025

Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good
Good
Good
Good

Terminal
Bataan Malt Terminal (land, building,machineries & equipment, furnitures &fixtures)
Investment Properties

Brgy. Estefania, Bacolod City (9 lots)
No. 31 Rosario St., Brgy. Granada, Bacolod City
Brgy. Penabatan, Pulilan, Bulacan
L26 B11, Brgy. Sto.Domingo, Sta.Rosa, LagunaJaro, Iloilo (2 lots)
Barrio of Tinajeros, Malabon City (2 lots)
Bo. of San Jose and Poblacion Cabanatuan City (3 lots)
Barrio of Mallorca,San Leonardo.Nueva Ecija (2 lots)
Poblacion,San Leonardo,Nueva Ecija
Lot 5009 Imus Estate,Imus Cavite
Imus Friar,Imus, Prov. of Cavite (2 lots)
Lot 5159 Poblacion, Imus Prov. Of Cavite
Barrio of San Rafael & San Roque (2 lots)
Bo. Of Pob. 2nd Municipality of Tarlac (2 lots)
71-B-3-B-4 Barrio Suizo Municipality of Tarlac

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Good
Good
Good
Good
Good
Good
Good

Page 3

Company Name / Subsidiary

Address

Bgy. Paringao, Municipality of Bauang, La Union
Bo. Mabilao, San Fabian, Pangasinan (5 lots)
Brgy. Gabut Norte, Badoc, Ilocos Norte
Pozorrubio, Pangasinan

Rented / Owned

Condition

Owned
Owned
Owned
Owned

Good
Good
Good
Good

B. INTERNATIONALBreweries
San Miguel Beer (Thailand) Ltd.

89 Moo2, Tiwanon Rd., Baan Mai, Muang , Pathumtani
Owned
12000, Thailand
PT Delta Djakarta Tbk
Jalan Inspeksi Tarum Barat Desa Setia Darma Tambun Building Owned. Land
Bekasi Timur 17510, Indonesia
under Land Use Rights
San Miguel (Guangdong) Brewery Co.,Ltd San Miguel Road 1#, Longjiang Town, Shunde District,
Owned
Guangdong Province, China
San Miguel (Baoding) Brewery Co. Ltd.
Shengli street, Tianwei West Road, Baoding City, Hebei
Owned
Province, China
San Miguel Brewery Vietnam Ltd.
Quoc Lo 1 , Suoi Hiep , Dien Khanh , Khanh Hoa
Owned
San Miguel Brewery Hong Kong Limited
22 Wang Lee Street, Yuen Long Industrial Estate, Yuen Building-Owned; LandLong, New Territories, Hong Kong
RentedSales/Area Offices and Warehouses
San Miguel (China) Investment Co. Ltd.
1-7A, 1-11A, 1-12A, 1-9C, 1-7C Parkview Tower
Owned
Chaoyang District Beijing 100027, China
San Miguel Brewery Hong Kong Limited
Land-Rented
9th Floor, Citimark Building , No.28 Yuen Shun Circuit, Siu
Lek Yuen, Shatin, NT, Hong Kong
San Miguel Brewery Hong Kong Limited
San Miguel Industrial Building, No. 9-11 Shing Wan
Land-Rented
Road, Tai Wai, Shatin, NT, Hongkong
San Miguel (Guangdong) Brewery Co.,Ltd
San Miguel (Guangdong) Brewery Co.,Ltd San Miguel Road 1#, Longjiang Town, Shunde District,
Land-Rented
Guangdong Province, China
Guangzhou Admin Office
Room 1801, No.19 South East Road, Yuexiu District,
Office Space-Rented
Guangzhou, China

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Good
Good
Good
Good
Good
Good

HKD 220,800.00

2047

No renewal optionsGood

HKD 40,600.00

2047

No renewal options

Good

HKD 19,374.00

2047

No renewal options

Good

May 01, 2053

Renewal 1 month before expiration date.

Good

Entire rent paid at the startof lease term
RMB 11,571.00

June 25, 2024

At the end of contract, in the same condition,
we have the priority right of renewal, lease
and rent will be discussed by both parties .

Good

Shenzhen Sales Office

Room 319, 3rd Floor, Liangji Zhihui Building, No. 184
Qingquan Road, Longhua Street, Longhua District,
Shenzhen, China

Office Space-Rented

Good

RMB 5,180.00

October 31, 2025

At the end of contract, in the same condition,
we have the priority right of renewal, lease
and rent will be discussed by both parties .

Dormitory

Room 2201, Block 3, Zone 1, No. 26 Kerun Road,
Chancheng District, Foshan City, Guangdong Province,
China

RentedGood

RMB 5,400.00

November 30, 2024

At the end of contract, in the same condition,
we have the priority right of renewal, lease
and rent will be discussed by both parties .

Office Space-Rented

Good

NT$143,800.00

April 15, 2025

Office Space-Rented

Good

NT$76,000.00

April 30, 2025

Office Space-Rented

Good

NT$39,000.00

December 31, 2023

Office Space-Rented

Good

NT$216,460.00

March 31, 2024

Office Space-Rented

Good

RMB 13,654.00

September 30, 2024

At the end of contract , lease and rent will be
discussed by both parties .
At the end of contract , lease and rent will beconsidered by landlord.
At the end of contract , lease and rent will beconsidered by landlord.
Extend agreement 1 year automatically if noexpression of intent from both parties
Renewable upon mutual agreement of bothparties

Land-Rented

Good

Entire rent paid at the startof lease term

San Remo Taiwan (SRT)San Miguel Company Ltd. Taiwan Branch- 3F-3, No.167, Fusing N. Rd., Taipei, Taiwan (ROC)
Taipei
San Miguel Company Ltd. Taiwan Branch- No.305-6, Renlin Rd., Renwu Dist., Kaohsiung City 814,
KaohsiungTaiwan (R.O.C.)
San Miguel Company Ltd. Taiwan Branch- No.159, Shuwang Rd., Dali Dist., Taichung City 412,
Taichung
Taiwan (R.O.C.)
San Miguel Company Ltd. Taiwan Branch- No. 34-88, Dahu Rd., Guishan Dist., Taoyuan City 333,
North Region Warehouse
Taiwan (R.O.C.)
San Miguel China Investment Company
Rooms 1213 and 1218, 12F, No. 1 Building, No. 12
LimitedNongzhanguan South Road, Chaoyang District, Beijing
China 100026
San Miguel Baoding Brewery Company Limited
San Miguel Baoding Brewery Company
Shengli Street, Tianwei West Road, Baoding City, Hebei
LimitedProvince, China

June 01, 2046

Renewable upon mutual agreement of bothparties

Page 4

Company Name / Subsidiary

Expiry of Lease Contract

Terms of Renewal / Options

RMB 3,406.17

March 06, 2024

Renewable upon mutual agreement of bothpartiesGood

THB 16,000.00

December 31, 2023

Office Space-Rented

Good

THB 23,157.90

December 31, 2023

Office Space-Rented

Good

THB 21,052.63

December 31, 2023

Office Space-Rented

Good

THB 11,578.95

December 31, 2023

Office Space-Rented

Good

THB 25,263.16

December 31, 2023

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Quoc Lo 1 , Suoi Hiep , Dien Khanh, Khanh Hoa

Land-RentedGood

VND 44,185,733

November 12, 2024

Office Space-RentedGood

USD 8,774.70

March 31, 2025

Da Nang Sales Office

180 Nguyen Van Troi Street , Ward 8, Phu Nhuan
District, Ho Chi Minh City
180 2/9 Street, Da Nang City, Vietnam

Office Space-RentedGood

VND 28,000,000

October 05, 2026

Nha Trang Sales Office

60 D Tran Nhat Duat Phuoc Hoa Nha Trang

Office Space-RentedGood

VND 26,000,000

March 31, 2026

Vung Tau Sales Office

80 Huyen Trang Cong Chua Ward 8, Vung Tau

RentedGood

VND 7,700,000

June 30, 2025

Ho Chi Minh Warehouse

A75 Bach Dang Ward 2 Tan Binh District, TP.HCM,
Vietnam
3rd Floor, 184 Tran Phu, Phuoc Ninh Ward, Hai Chau
District, Danang
Apartment Room No. 403, 1/18 Nguyen Van Mai, Ward
4, Tan Binh District, HCMC
305C/12 Nguyen Van Troi, Ward 01, Tan Binh District,
TP.HCM, Vietnam
Room 3846-Muong Thanh

RentedFair

May 09, 2025

RentedFair

USD 1,280.00 + VND
4,000,000
VND 8,500,000.00

April 24, 2025

RentedGood

VND 15,500,000

August 18, 2024

RentedGood

USD 720

April 30, 2024

RentedGood

VND 7,000,000

April 12, 2024

3rd and 6th Floors SMPC Bldg., St. Francis Ave., Ortigas
Centre, Mandaluyong City
5th Floor SMPC Bldg., St Francis Ave., Ortigas Center,
Mandaluyong City

Owned

Good

RentedGood

1,134,194.28

August 31, 2024

Renewable upon mutual agreement of bothpartiesTebag West, Sta. Barbara, Pangasinan

Owned

Good

San Fermin, Cauayan, Isabela

Owned

Good

327 Prenza Highway, San Fermin, Cauayan Isabela
Don Jose Canciller St., Cauayan City, Isabela

Owned
RentedGood
Good

December 31, 2023

Renewable upon mutual agreement of bothparties

Don Jose Canciller St., Cauayan City, Isabela

RentedGood

February 15, 2024

Short Term Lease Only

San Miguel Baoding Brewery Company
LimitedSan Miguel Marketing Thailand Limited
North sales officeSouth sales office (Phuket)
South sales office (Samui)
Northeast sales office
Pattaya sales office
San Miguel Brewery Vietnam Limited
San Miguel Brewery Vietnam Ltd.
Ho Chi Minh Sales Office

Da Nang Warehouse
Apartment
Apartment
Apartment
2

GINEBRA SAN MIGUEL, INC.
A. HEAD OFFICEGSMI Office Space
GSMI Office Space
B. NORTH LUZON
PlantsGSMI Sta. Barbara Plant (Land andFacilities)EPSBPI Cauayan Plant (Land andFacilities)
Warehouse/Sales Office
GSMI Cauayan Sales Office
GSMI Pua Warehouse 1

Pua Warehouse 2

Address

Rented / Owned

Condition

1-1-2601, Zhengyulvgu, Chaoyang North Street,
Baoding City , Hebei Province, China

Office Space-Rented

Good

North Office 403/5 Lumpoon Road, Wadked , Amphor
Muang , Lumpoon
14/4 Moo 4 , Tambon Wichit Amphor Muang, Phuket

Office Space-Rented

44/38 Moo 1 Tambon Maenam,Amphur Koh SamuiSuratthani
44/50 Moo 3 Chataphadung Rd, Thumbon Naimuang,
Amphur Muang Khonkean
263/91 Moo 12 Tambon Nongprue Banglamung
ChonburiMonthly Rental(In PhP, Unless
Otherwise Indicated)

488,748.00 (April 01, 2023
to June 30, 2023)
193,868.00 (July 01, 2023
to December 31, 2023)
194,940.00

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Page 5

Company Name / Subsidiary

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Pua Warehouse 3
GSMI La Union Sales Office - Bauang

Don Jose Canciller St., Cauayan City, Isabela
Disso-or Bauang La Union

RentedRentedGoodGood

99,940.00
36,000.00

February 15, 2024
October 31, 2024

Short Term Lease Only
Renewable upon mutual agreement of bothparties

GSMI San Fernando Sales Office#162 Baliti 2000 City of San Fernando Pampanga

RentedGood475,000.00

December 31, 2024

GSMI Lunec Warehouse 1
GSMI Lunec Warehouse 2
GSMI Lunec Warehouse 3
GSMI Lunec Warehouse 4
Depot
GSMI Alcohol Depots #1 and #2
Land
GSMI Lingayen Property
GSMI Olongapo Property
GSMI Minien West Sta. Barbara Property

Brgy. Lunec, Malasiqui, Pangasinan
Brgy. Lunec, Malasiqui, Pangasinan
Brgy. Lunec, Malasiqui, Pangasinan
Brgy. Lunec, Malasiqui, Pangasinan

RentedRentedRentedRented

Good
Good
Good
Good

256,000.00
366,240.00
366,240.00
366,240.00

January 31, 2024
February 15, 2024
February 29, 2024
February 29, 2024

Renewable upon mutual agreement of bothparties
Short Term Lease Only
Short Term Lease Only
Short Term Lease Only
Short Term Lease Only

Brgy. Namonitan, Sto. Tomas (Damortis), La Union

Owned

Good

Libsong East, Lingayen, Pangasinan
Sta. Rita, Olongapo City, Zambales
Minien West, Sta. Barbara, Pangasinan

Owned
Owned
Owned

Good
Good
Good

Owned
Owned

Good
Good

Owned

Good

Owned

Good

Owned

Good

Owned
Owned
Owned

Needs
Renovation
Good
Good

Owned

Good

Owned

Good

GMSI Maticmatic Sta. Barbara Property
Maticmatic, Sta. Barbara, Pangasinan
EPSBPI San Fermin Cauyan Isabela (TCT San Fermin, Cauyan, Isabela
No.035-20230016340)
EPSBPI San Fermin Cauyan Isabela (TCT San Fermin, Cauyan, Isabela
No.035-2022007225)
C. GMA
Warehouse/Sales Office
GSMI Pandacan Sales Office (Land and 631 Tomas Claudio St. Zone 93 Barangay 865 1011
Facilities)
Pandacan NCR, City of Manila, First District Philippines
GSMI Sucat Parañaque Sales Office#8380 Dr. A. Santos Avenue, BF Homes, Parañaque
City
D. SOUTH LUZON
PlantsGSMI Lucena Plant (Land and Facilities) Bgy. Gulang-gulang, Lucena City, Quezon
EPSBPI Ligao Plant (Land and Facilities) Km 503, Hacienda Mitra, Paulog, Ligao City, Albay
GSMI Cabuyao Plant (Land and Facilities) Silangan Industrial Estate, Brgy. Pittland, Terelay Phase,
Cabuyao, Laguna
Warehouse/Sales Office
GSMI Ligao Sales Office
Km. 503, Hacienda Mitra, Brgy. Paulog, Ligao City, Albay
4504
EPSBPI Warehouse Extension
Km. 503, Hacienda Mitra, Brgy. Paulog, Ligao City, Albay
4504
GSMI Lucena Sales Office
Sales Office Building National Rd. Gulang-Gulang 4301
Lucena City (Capital) Quezon Philippines
GSMI Legazpi Warehouse 1
Barangay 42, Rawiz Legazpi City

Owned

Good

RentedGood

225,000.00

June 30, 2024

GSMI Pagsanjan Sales OfficeSitio Ilaya Sabang 4008 Pagsanjan Laguna

RentedGood37,800.00

November 19, 2024

Calamba Warehouse 1
Calamba Warehouse 2
Calamba Warehouse 3
Calamba Warehouse 4
Calamba Warehouse 5

Km#52 Bo. Lawa, Calamba, Laguna
Km#52 Bo. Lawa, Calamba, Laguna
Km#52 Bo. Lawa, Calamba, Laguna
Km#52 Bo. Lawa, Calamba, Laguna
Km#52 Bo. Lawa, Calamba, Laguna

RentedRentedRentedRentedRented

Good
Good
Good
Good
Good

311,040.00
427,680.00
388,800.00
388,800.00
294,840.00

February 29, 2024
February 29, 2024
February 29, 2024
February 29, 2024
February 29, 2024

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Short Term Lease Only
Short Term Lease Only
Short Term Lease Only
Short Term Lease Only
Short Term Lease Only

Page 6

Company Name / Subsidiary

Rented / Owned

Condition

RentedRentedRented

Good
Good
Good

Francisco Ferdinand St., Teacher's Village, Bgy. Cotta,
Lucena City
GSMI Tabangao Depot (Land and Tanks) Bgy. Tabangao, Aplaya, Batangas City

Owned

Good

Owned

Good

GSMI Bauan Depot
San Pedro 4201 Bauan Batangas
E. VISAYAS
PlantsGSMI Mandaue Plant (Land and Facilities) Subangdaku, Mandaue City, Cebu

Owned

Good

Owned

Good

DBI Alcohol Distillery (Land and Facilities) Km 13.5, Brgy. Taloc, Bago City, Negros Occidental

Owned

Good

DBI Deepwell Sites (Land and Facilities)
Warehouse/Sales Office
GSMI Bago City Sales OfficeDistileria Bago, Inc. (Aged Alcohol
Warehousing and Management)
GSMI Tacloban Sales OfficeBrgy. Taloc, Bago City, Negros Occidental

Owned

Good

Km 13.5, Brgy. Taloc, Bago City, Negros Occidental
Brgy. Taloc, Bago City, Negros Occidental

Owned
Owned

Good
Good

RentedGSMI Iloilo Sales Office

Purok 1 Brgy. 91 Maharlika Highway, Abucay Tacloban
City
Brgy. Quintin Salas, Jaro, Iloilo City

GSMI Nothern Samar Sales Office
GSMI Goldmark Warehouse

Calamba Warehouse 6
Tabaco Warehouse 1
Tabaco Warehouse 2
Depot
GSMI Cotta Depot

Expiry of Lease Contract

Terms of Renewal / Options

February 29, 2024
February 29, 2024
February 29, 2024

Short Term Lease Only
Short Term Lease Only
Short Term Lease OnlyGood

33,928.57

October 31, 2024

RentedGood58,500.00

January 31, 2025

Sitio Cabicalan Londres Allen, Northern Samar

RentedGood

50,000.00

August 31, 2024

T. Villa St. T. Padilla., Cebu City

RentedGood499,200.00

April 30, 2024

GSMI Lapu-lapu Warehouse
Firecrash, Bangkal, Lapu-lapu City
GSMI Mandaue Warehouse
P. Sanchez St., Brgy. Pagsabungan, Mandaue City
Depot
GSMI Ouano Alcohol Depot (Tank)
Ouano, Mandaue CityLand
DBI Relocation Site
Brgy. Calumangan, Bago City, Negros Occidental
DBI (160sq.m new acquisition)
Brgy. Taloc, Bago City, Negros Occidental
GSMI Looc Land (Depot)
Mandaue Port, J. Cenniza St., Looc Mandaue City
GSMI Bago Plant (Land)
Brgy. Calumangan, Bago City, Negros Occidental
F. MINDANAO
Warehouse/Sales Office
GSMI Davao Warehouse and Sales Office Brgy. Talomo, Ulas, Davao City

RentedRentedGood
Good

500,000.00
613,200.00

February 29, 2024
March 31, 2024

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Short Term Lease Only
Short Term Lease Only

Owned

Good

Owned
Owned
Owned
Owned

Good
Good
Good
Good

Owned

Good

GSMI Pagadian Sales Office

2nd flr., Nesoricom Prime Arcade, National Highway,
Tiguma, Pagadian City
Limac Warehouse Diversion Road Bulua Zone 8 9000
Cagayan De Oro City
SMC Compound, Ulas, Talomo District, Davao City

RentedGood

17,894.74

November 30, 2024

RentedGood

115,416.00 (May 01, 2023
to April 30, 2024)

Owned

Good

17F, 18F, 21F, 22F, 23F JMT Corporate Condominium
Building, ADB Avenue, Ortigas Center, Pasig City
Melliza St., Iloilo City
2F, MPPP DavSur 2, Sitio Rambutan, Brgy. Darong,
Sta.Cruz, Davao del Sur

Owned

Good

Owned
Owned

Good
Good

GSMI Davao Warehouse
FOOD GROUP
Admin Office/Sales Office
Pasig Office - San Miguel Food andBeverage, Inc. (SMFB)
Iloilo Office - Agro Industrial Cluster
Davao Region Office - Agro Industrial
Cluster

Km#52 Bo. Lawa, Calamba, Laguna
Brgy. San Carlos, Tabaco City, Albay
Encinas Compound, Brgy. Pawa, Tabaco City, Albay

Monthly Rental(In PhP, Unless
Otherwise Indicated)
294,840.00
252,000.00
200,000.00

GSMI Cagayan de Oro Sales Office3

Address

April 30, 2024

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Page 7

Company Name / Subsidiary

Address

Admin Office and Feedmill/Processing Plant/Product Development Laboratory/Warehouse
Cavite Admin Office and Magnolia Plant - Governor's Drive, Bo. De Fuego, Gen. Trias, Cavite
Magnolia, Inc.
Depok Office and Poultry Processing Plant Jl. Raya Bogor Km. 37 Sukamaju, Cilodong, Depok,- PT San Miguel Purefoods Indonesia
Indonesia
Tarlac Office, Feedmill and Warehouse - Luisita Industrial Park, San Miguel,Tarlac City
Feeds
Bataan Feedmills and Warehouse Mindanao Avenue, Corner 10th Ave. BEZ, Mariveles,
Feeds
Bataan City
Pasig Office and Product Development
SMFG Cmpd., Legaspi cor. Eagle St., Ugong, Pasig City
Laboratory - SMFI-Corporate
Bacolod Warehouse - San Miguel Mills
Reclamation Area, Barangay Poblacion, Bacolod City
Inc.
Isabela Feedmill and Warehouse - Feeds Bo. Soyung, Echague, Isabela City
Bulacan Feedmill and Warehouse (SanBrgy. Malipampang San Ildefonso, Bulacan
Ildefonso) - Feeds
Pangasinan Feedmill - Feeds
Brgy. Bued, Binalonan, Pangasinan City
Admin Office & Magnolia Poultry
SMC Complex, Quebiawan, San Fernando, Pampanga
Processing Plant - SMFI - Poultry
Marikina Processed Meats Plant (used as JP Rizal St., Bo. San Roque, Marikina City
warehouse) - Purefoods-Hormel
Camarines Sur Office - SMFI - AIC;
Sta. Rita Industrial Estate, Sagurong, Pili, Camarines Sur
Office, Quality Assurance Office, Magnolia
Poultry Processing Plant, Cold Storageand Holding Room - SMFI - Poultry;
Cold Storage - SMFI - Meats

Rented / Owned

Condition

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned
Owned

Good
Good

Owned
Owned

Good
Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Isabela Sales Office & BMEG Isabela
Soyung, Echague, Isabela
Plant - SMFI - Poultry
General Santos Office and Vetmed Hub - Bo. Makar, Calumpang, Gen. Santos City
SMFI - Poultry
Depot
Cagayan De Oro Building - Magnolia
Victorian Freight Express Corp, Brgy. Cugman, Cagayan
De Oro City
Pampanga Depot - Magnolia
Gloria 1, Sindalan, San Fernando Pampanga
Iloilo Depot - Magnolia
3M Dragon,Leganes St., Brgy Lupa Santa Barbara Iloilo

Owned

Good

RentedRentedGoodGood

3,888,373.84
1,986,000.00

December 31, 2023
December 31, 2023

Renewable every year
Renewable every year

Consolacion Cebu Depot - Magnolia
Cagayan De Oro Depot - Magnolia
Bacolod Depot - Magnolia

RentedRentedRented

Good
Good
Good

3,048,251.32
3,234,698.45
1,649,901.40

December 31, 2023
December 31, 2023
December 31, 2023

Renewable every year
Renewable every year
Renewable every year

Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good

Owned

Good

Owned

Good

Cebu-North Road, Tayud, Consolacion, Cebu
Brgy. Cugman, Cagayan de Oro City
Magsasay Cor Araneta Sts., Brgy. Singcang, BacolodCity

Farm/Hatchery
Isabela Cattle Farm - Meats
3305 San Luis, Cauayan, Isabela City
Calamba Hatchery - Poultry
Brgy Licheria, Calamba City
Bataan Farm - Poultry
Brgy. General Lim, Orion, Bataan City
Bukidnon Hatchery - Poultry
Kapitan Bayong, Impasug-ong, Bukidnon City
Laguna Cattle Farm & R&D - SMFI Brgy. Mabacan, Calauan, Laguna
Meats; Office - SMFI - AIC
Camarines Sur Magnolia Poultry Hatchery - Brgy. San Juan, Baao, Camarines Sur
SMFI - Poultry; SMFI - AIC
Magnolia Poultry Farm Davao Del Sur Brgy Hagonoy Crossing, Hagonoy, Davao Del Sur
SMFI - Poultry

Page 8

Company Name / Subsidiary

Address

Rented / Owned

Condition

Owned
Owned
Owned

Good
Good
Good

Bukidnon Feedmill - Feeds
Impalutao,Impasug-ong,Bukidnon City
Davao Feedmill and Warehouse- Feeds
Sitio Landing, Brgy. Darong , Sta. Cruz, Davao Del Sur
Pavia Iloilo Feedmill - SMFI - Feeds
Brgy. Mali-ao Pavia, Iloilo
Ormoc Feedmill - SMFI - Feeds
Brgy, Macabug, Ormoc City
Misamis Oriental Feedmill and Warehouse Brgy Gracia, Sitio Kivulda, Phividec, Tagoloan, Misamis- SMFI - Feeds
Oriental
Mandaue Feedmill - SMFI - Feeds
JL Ceniza St., Brgy Looc, Mandaue City
General Santos Feedmill - SMFI - Feeds San Miguel Purefoods Compound, Rivera St.,
Calumpang, General Santos City
Grain Terminal
Mabini Bulk Grain Handling Terminal - San Brgy. Balibaguhan and Brgy. Bulacan, Mabini, Batangas
Miguel Mills, Inc. (GBGTC)
City
Land
Mabini Land - SMFB
Brgy. Bulacan, Mabini, Batangas City
Pasig Land - San Miguel Mills, Inc. (GAC) San Miguel Ave., Corner Tektite Road, Pasig City

Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good

Owned
Owned

Good
Good

Owned

Good

Owned
Owned

Good
Good

Bulacan Land - SMFI Feeds
Bacolod Land - SMMI
Isabela Land - Feeds
Iloilo Land - Feeds
Davao Land - SMFI - Feeds
Catbalogan Property (Land & Building) SMFI - SMIS
Cavite Property (Land) - Magnolia

Malipampang, San Ildefonso, Bulacan
Reclamation Area, Barangay Poblacion, Bacolod City
Bo. Soyung, Echague, Isabela City
Brgy. Gua-an. Leganes, Iloilo
Darong, Sta. Cruz, Davao
Brgy. 048 Payao, Catbalogan City, Samar

Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good
Good

Lot 1-E of Subdivision Plan (LRA), PSD-417836, Brgy.
San Francisco, General Trias, Cavite

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Governor's Drive Bo. Langkaan 1, Dasmarinas Cavite
City
Sta. Rosa Industrial Complex, Brgy. Pulong Sta. Cruz,
Sta. Rosa, Laguna
SMC Complex, Quebiawan, San Fernando, Pampanga

Owned

Good

Owned

Good

Owned

Good

Pagbilao, Quezon

Owned

Good

Riverside, Canduman, Mandaue City

Owned

Good

Sta. Rosa Industrial Complex, Brgy. Pulong Sta. Cruz,
Sta. Rosa City, Laguna

Owned

Good

Flourmill/Feedmill and Warehouse
Iloilo Feedmill - Feeds
Brgy. Gua-an, Leganes, Iloilo
Brgy. Bulacan, Mabini, Batangas City
Mabini Flourmill - San Miguel Mills, Inc.
Tabangao Flourmill - San Miguel Mills, Inc. Brgy. Tabangao, Batangas City

Processing Plant
Binh Duong Processing Plant - San Miguel An Tay, Ben Cat, Binh Duong, Vietnam
Purefoods (VN) Co., Ltd.
Cavite Processed Meat Plant - Purefoods Bo. De Fuego, Brgy. San Francisco, Gen. Trias, Cavite
Hormel Company, Inc.
Davao Processing Plant 2- SMFI - Poultry Sitio Rambutan, Brgy. Darong, Sta.Cruz, Davao del Sur
Cavite Fresh Meat Processing Plant Meats
Laguna Ice Cream Plant - Golden FoodManagement Inc. (GFMI)San Fernando Processing Plant - SMFI Feeds
Magnolia Poultry Processing Plant
Pagbilao - SMFI - Poultry
Processing Plant and Cold Storage
Mandaue Poultry Processing Plant andCold Storage - Poultry
WarehouseSta. Rosa Warehouse - SMFI - SMIS

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Page 9

Company Name / Subsidiary

Rented / Owned

Condition

40 San Miguel Ave., Mandaluyong City

Owned

Good

3rd Floor Alpha Bldg., Lanang Business Park, Lanang,
Davao
6F Mekong Tower, 235-241 Ward 13, Tan Binh, Ho Chi
Minh City, Vietnam
Don Alfonso Marquez Subd., MCLL Highway Tetuan
Zamboanga City
Propia St. , Malaybalay, Bukidnon
Masterson Avenue Zone 13, Carmen, Cagayan de Oro

RentedGood

321,599.60

RentedGood

VND 38,646,597.17

Zamboanga Office - Agro Industrial
Cluster
Bukidnon Office - Agro Industrial Cluster
Cagayan de Oro Office - Agro Industrial
Cluster
Dumaguete Office - Agro Industrial Cluster Unit 1-C, JC Building, Ipil Road, Brgy. Daro, Dumaguete
City
Bacolod Office - Agro Industrial Cluster
NFCC Cybercentre Complex, Lacson Cr. Hernaez St.,
Bacolod City

RentedGood

31,408.46

December 31, 2025

Renewable every 3 years

RentedRentedGood
Good147,321.43
408,727.23

January 31, 2025
June 30, 2024

Renewable every 2 years
Renewable every year

RentedGood34,186.12

October 30, 2024

Renewable every 5 years

RentedGood345,150.00

December 31, 2023

1 year (under TACIT RENEWAL until new
rate is approved by Negros Sanguniang
Panlalawigan)

C5 Pasig Office - SMFB, SMFI, PHC,
Magnolia, Coffee, SMMI
Tacloban Office - Agro Industrial Cluster

Owned

Good

Unit 12, 2nd Floor Bldg. B, Metrobank Center, Juan Luna
St., Brgy. Poblacion, Palo, Leyte
Ormoc Office - Agro Industrial Cluster
AW Square 3rd/F R#3F Cor. Real & San Vidal St.,
Ormoc City
Central Luzon Office - Agro Industrial
SMPFC Region Office, SMC Complex, Quebiawan, San
Cluster
Fernando, Pampanga
Admin Office and Cold Storage/Processing Plant/Warehouse
Butuan Office and Cold Storage - AgroKm 9 Tag-ibo Butu-an City
Industrial Cluster and Poultry

RentedGood

53,204.45

October 21, 2028

Renewable every 5 years

RentedGood32,340.00

November 30, 2024

Renewable every 4 years

Owned

Good

RentedGood

11,127.16 (Office)449,450 (Processing Plant)
228,920 (Cold Storage)
220,530 (Holding Room)

Misamis Occidental Office and Cold
Storage - Agro Industrial Cluster andPoultry

Mailen, Clarin, Misamis Occidental

RentedGood

133,090 (Cold Storage)
250,027 (Holding room)
14,946.00 (Office)

Cebu Office, Labatory & Cold Storage Poultry

Brgy. Pangdan, Naga City, Cebu

RentedGood

RentedGood

RentedGood

RentedGood422,620.00

RentedGood

118,552.00

Admin Office
Mandaluyong Office - San Miguel Foodand Beverage, Inc.
Davao Office - Poultry
Ho Chi Minh Office - SMPFVN

Address

100 E. Rodriguez Jr. Ave., C5 Road, Ugong, Pasig City

Mandaue Warehouse and Cold Storage - Lot 2459-B1&B2 Batiller Street, Barangay Umapad,
Poultry
Mandaue City
JM1 Farm - SMFI - Meats
Brgy. Kalasungay, Malaybalay City
Cold Storage
Misamis Oriental Dressing Plant
Mohon Tagoloan Misamis Oriental(Processing, Cold Storage, Holding Room)Poultry
Misamis Oriental Cold Storage - Meats
Sta. Ana, Tagoloan, Misamis Oriental

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

December 31, 2023

Preterminated the contract from August 31,
2025
Renewable every 5 years

July 31, 2025

December 31, 2025
(Office - AIC)
December 31, 2025
(Cold Storage - Poultry)

Negotiations for the renewal shall commencesix (6) months before expiry date. The
decision to renew or not to renew should bemade by the parties within a period notexceeding three (3) months from date of
expiryDecember 31, 2025

-Renewable every 3 years (Office)-6 months before expiry date. The decision to
renew or not to renew should be made by theparties within a period not exceeding three (3)months from date of expiry (Cold Storage &Holding Room)

39,200.00 ( Office andJanuary 31, 2025
Renewable every 3 years
Labatory)
3,781,750 (Cold Storage &Warehouse)
654,740.00 Continuing unless terminated Ongoing renewal
and agreed by both parties
650,000.00
August 31, 2025
Renewable upon mutual agreement of bothparties
September 30, 2025

The Lessee maybe pre-terminate theContract without cause by giving 60 days
prior written notice to the Lessor
Continuing unless terminated Renewed upon the expiry of its contract term
and agreed by both parties for the like period(s) under the same terms
and conditions, except as may be otherwise
agreed by the parties in writing

Page 10

Company Name / Subsidiary

Palawan Cold Storage - Poultry

Address

Abara Road, Brgy. San Pedro, Puerto Princesa City,
Palawan
Sra Ascion, San Jose, Negros Oriental

Rented / Owned

Condition

RentedGood

388,080.00

December 31, 2024

Renewable every 2 years

Good

2,433,370.00

October 28, 2024

Renewable every 3 years

Good

180,928 (Cold Storage)
184,667 (Holding room)
1,967,612.59 (ColdStorage)
51,785.71 (Selling Station)
30,140 (Mixes Storage)

May 31, 2025

Renewable every 3 years

Negros Oriental - Cold Storage &RentedProcessing Plant - Poultry
Cold Storage and Blast Freezing Facility/Holding Room/Laboratory/Warehouse/Processing Plant/Mixes Storage/Office
Bulacan Cold Storage and Holding Room - #95 Landicho St., Brgy. Balasing, Sta. Maria, Bulacan
RentedPoultry
Pampanga Cold Storage & Selling Station- 888 Quezon Rd, Brgy. San Isidro, San Simon,
RentedSMFI - Meats & Mixes Storage - Poultry
Pampanga

Leyte Cold Storage and Office andLabatory - Poultry

Brgy. Antipolo, Albuera, Leyte

Good

RentedGood

Bulacan Cold Storage, Holding Room and Brgy. Caysio, Sta. Maria, Bulacan
Laboratory & Liquidator's Office- SMFI Poultry

RentedGood

La Union Cold Storage, Holding Roomand Laboratory - Poultry

Brgy. Rabon, Rosario, La Union 2506

RentedPampanga Cold Storage, Holding Roomand Labatory - SMFI - Poultry

Brgy. San Isidro, San Simon, Pampanga

Tarlac Cold Storage, Holding Room andLaboratory - Poultry

Brgy. San Nicolas Balas, Concepcion, Tarlac 2316

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

December 31, 2024
(Cold and Mixes Storage)
June 30, 2024
(Selling Station)

Terms of Renewal / Options

Renewable upon mutual agreement of bothparties

1,637,614.00 (ColdStorage)
35,000.00 (Office andLabatory)
2,831,846 (Cold Storage)
1,392,985 (Holding Room)
55,033(Laboratory)
9,750 (Office)

Extension memo
up to Feb 29, 2024

Renewable every 3 years

February 28, 2025

Renewable every 3 years

Good

2,183,379 (Cold Storage &Holding Room)
72,081.00 (Laboratory)

September 30, 2026

Renewable every 3 years

RentedGood731,185 (Cold Storage)
317,853.00 (Holding Room)
49,090.00 (Labatory)

July 08, 2025

Renewable every 5 years

RentedGood

December 31, 2024

Renewable every 3 years

Bataan Cold Storage and Holding Room - Brgy. Tumalo, Hermosa, Bataan
Poultry

RentedGood

December 31, 2024

Renewable every 3 years

Nueva Ecija Cold Storage, Holding Room Km104, Brgy Tabuating, San Leonardo, Nueva Ecija
and Labatory- SMFI - Poultry

RentedGood

1,810,069.00 (ColdStorage)
1,211,826.00 (Holding
Room)
37,882.07 (Laboratory)
2,880,950 (Cold Storage)
1,327,480.00 (Holding
Room)
28,764.14 (Labatory)
693,070 (Cold Storage)
914,660.00 (Holding Room)
28,570.00 (Labatory)

March 09, 2024

Renewable every 3 years

Iloilo Cold Storage and Processing Plant - Barangay Tungay, Sta. Barbara, Iloilo
Poultry

RentedGood

December 31, 2023

Renewable every 3 years

Negros Oriental Cold Storage andProcessing Plant - Poultry
Negros Occidental Processing Plant andCold Storage & Laboratory - Poultry

Bolocboloc Sibulan Negros Oriental

RentedGood902,691.69 (Cold storage)
474,483.96 (Processing
plant)
1,818,600

October 31, 2024

Renewable every 3 years

Hda Binunga. Brgy Guinhalaran, Silay City, Negros
Occidental

RentedGood

December 31, 2024

Renewable upon mutual agreement of bothparties

El Salvador Processing Plant; Cold
Storage; Holding Room - SMFI Poultry

Upper Linabo, Brgy. Cogon, El Salvador City

RentedGood395,541.76 (Processing
Plant)
794,134.38 (Cold Storage)
2,121,510 (Cold Storage)
453,490 (Holding room)

March 3, 2026

Tacloban Cold Storage and Warehouse SMFI - Poultry

Bgry. Diit, Maharlika Highway, Tacloban City, Leyte

RentedGood

2,755,200

December 31, 2023

6 months before expiry date. The decision to
renew or not to renew should be made by theparties within a period not exceeding three (3)months from date of expiry
Renewable upon mutual agreement of bothparties

Page 11

Company Name / Subsidiary

Address

Rented / Owned

Condition

Brgy. Balibaguhan and Brgy. Bulacan, Mabini, Batangas

RentedGood

Brgy. Bulacan, Mabini, Batangas

RentedGood

Tabangao Foreshore - San Miguel Mills,
Brgy. Tabangao, Batangas
Inc.
Land
Mabini Bulk Grain Handling Terminal
Brgy. Balibaguhan and Brgy. Bulacan, Mabini, Batangas(Land only) - GBGTC
Pangasinan Feedmill (Land only) - Feeds Brgy. Bued, Binalonan, Pangasinan

Rented

Good

Owned

Good

Owned

Good

Mabini Flourmill (Land Only) - San MiguelMills, Inc.
Bataan Farm (Land only) - Poultry
Bataan Feedmill (Land only) - Feeds

Brgy. Bulacan, Mabini, Batangas

Owned

Good

Brgy. General Lim, Orion, Bataan
Mindanao Avenue, Corner 10th Ave. BEZ, Mariveles,
BataanOwned
RentedGood
Good

Cebu Land - San Miguel Mills, Inc.

P. Rodriguez Street & Dad Cleland Road, Poblacion,
Lapu-Lapu, Cebu
SMFG Cmpd., Legaspi cor. Eagle St., Ugong, Pasig

Rented

Good

Owned

Good

Sta. Rosa Industrial Complex, Brgy. Pulong Sta. Cruz,
Sta. Rosa, Laguna
Sta. Rosa Industrial Complex, Brgy. Pulong Sta. Cruz,
Sta. Rosa, Laguna
Brgy. Malipampang San Ildefonso, Bulacan

Owned

Good

Owned

Good

Owned

Good

Sitio Landing, Brgy. Darong , Sta. Cruz, Davao Del Sur

Owned

Good

Brgy Kayumanggi, Lipa

RentedPuerto Princesa Dressing Plant - Poultry Brgy Tagburos, Puerto Princesa
Lucena Processing Plant - Poultry
Brgy. Bocohan, Lucena
Isabela Processing Plant and Laboratory - Garit Sur, Echague Isabela
SMFI - Poultry

Davao City Processing Plant -Poultry
Rizal Processing Plant - Poultry
Batangas Processing Plant - Poultry

Foreshore
Mabini Bulk Grain Handling Terminal
Foreshore - GBGTC
Mabini Foreshore - San Miguel Mills, Inc.

Monthly Rental(In PhP, Unless
Otherwise Indicated)
373,949.14

Expiry of Lease Contract

Terms of Renewal / Options

Lease may be renewed for another 25 years
at the option of the DENR
49,089.06 Continuing unless terminated Lease may be renewed for another 25 years
and agreed by both parties at the option of the DENR
August 22, 2024
Lease may be renewed for another 25 years
9,648.63
at the option of the DENR

31-Dec-2054(Plant 1)
31-Mar-2041(Plant 2)
31-Mar-2041(Extension Warehouse)

Renewable upon mutual agreement of bothparties

Jan-June : 4,042,478.91
July -Dec : 4,244,602.85

May 31, 2031

Renewable upon mutual written agreement of
the parties

Good

1,040,110.00

August 31, 2024

RentedRentedRented

Good
Good
Good

22,400.00
1,534,600.00
3,516,289 (Processing
Plant)
40,765.18 (Laboratory)

Renewable upon mutual agreement of bothparties
Renewable every 2 years
Renewable every 3 years
Renewable every 3 years

R.Castillo, Davao City

RentedGood#1 Sitio Kapatagan, Brgy. Pinugay, Baras, Rizal
Brgy Aya, San Jose, Batangas

RentedRentedGood
Good

South Cotabato Processing Plant - Meats Purok 3, Brgy. Glamang, Polomolok, South Cotabato

RentedGood

Marawoy Lipa Processing Plant - Meats

A.Tanco Drive, Brgy . Marawoy , Lipa City, Batangas

RentedGood

Tacloban Processing Plant - Poultry

Brgy. 69 Anibong, Tacloban City

RentedGood

Pasig Office (Land Only) - San Miguel
Foods, Inc. - Corporate
Laguna Ice Cream Plant (Land Only) GFMI
Ready-to-Eat Plant (Land Only) - Great
Food Solutions
Bulacan Feedmill (Land Only) - SMFI Feeds
Davao Land - SMFI - Feeds
Processing Plant
Lipa Dressing Plant - Poultry

1,323,435.00 (Plant 1)
842,267.78 (Plant 2)
906,560.73 (Extension
warehouse)

February 28, 2025

December 31, 2024
June 30, 2024
March 15, 2024

Continuing unless terminated and agreed byboth parties
Renewable every year
291,326.19
Renewable upon mutual agreement of both
3,314,850.00
parties
208,272.87 Continuing unless terminated Renewable upon mutual agreement of bothand agreed by both parties parties
December 31, 2025
Renewable upon mutual agreement of both
132,959.49
parties
December 31, 2023
Renewable upon mutual agreement of both
132,000.00
parties
397,423.89

Continuing unless terminatedand agreed by both parties
December 31, 2024
December 31, 2023

Page 12

Company Name / Subsidiary

Rented / Owned

Condition

RentedGood

8,928.57

RentedGood

25,000.00 (Office)15,000.00 (Warehouse)

31-Dec-2023 (Office,Warehouse)

Renewable every year

Bay 6 Everland Agri Corp., Km. 12, Sasa, Davao City;
Km. 11, Sasa, Davao
Carmen East, Rosales, Pangasinan
Diversion Rd., Buhangin, Davao City; Km 10, Sasa,
Davao City
Manila; Bataan; Batangas; Camarines Sur; Cebu; Iloilo;
Bacolod; Cagayan de Oro; Ozamiz; Bukidnon; General
Santos; Zamboanga; Davao
Cristo Rey Capas, Tarlac 2315; Claro Castaneda St,
Brgy. Namayan, Mandaluyong City
Mabini, Moncada, Tarlac
Santiago, Pili, Camarines Sur
Urdaneta, Pangasinan
979 C. Castaneda Street, Mandaluyong City Metro
ManilaRentedGood754,285.71

December 31, 2023

Renewal every one year

RentedRentedGoodGood

1,547,212.80
865,632.14

December 31, 2023
December 31, 2023

Renewable every year
Renewable every year

RentedGood

47,680,963.51

December 31, 2023

Renewable upon mutual agreement of bothparties

RentedGood

1,679,546.96

December 31, 2023

RentedRentedRentedRented

Good
Good
Good
Good

Camarines Sur Warehouse - Feeds
Parañaque Warehouse - AIC, SMIS andGreat Food Solutions

Brgy. San Jose, Pili, Camarines Sur
Pacific Coast Plaza Building, 1st Villamor Street,ParañaqueRentedRentedGood
Good

December 31, 2023
December 31, 2024

Tarlac Warehouse - Feeds
Laguna Warehouse - Poultry
Calamba Warehouse - Poultry

Brgy. Estrada Capas, Tarlac
Denson Whse, Brgy Parian, Calamba, Laguna
Prinza, Calamba, Laguna

RentedRentedRented

Good
Good
Good

972,787.20
59,423.29 (AIC)
149,629.7 (SMIS)
24,433.47 (GFS)
1,002,400.00
1,142,350.00
203,400.00

Isabela Warehouse - SMFI - Feeds

Bo. Soyung, Echague, Isabela

RentedGood

Paranaque Warehouse - SMMI

8380 Dr. A. Santos Avenue, Barangay BF Homes,
Parañaque City
Catbalogan Samar
Cagayan Valley Rd, Brgy. Matimbubong, San Ildefonso,
BulacanBrgy. Balibaguhan, Mabini Batangas
Lot 1 Bredco Port, Brgy. Poblacion, Bacolod City
Labangal, General Santos City

Owned

Good

Owned
RentedGood
Good

784,000.00

December 31, 2023

Renewable upon mutual agreement of bothparties

Owned
Owned
Rented

Good
Good
Good

361,600.00

December 31, 2023

Renewable upon mutual agreement of bothparties

Sales Office
Iloilo Office - San Miguel Integrated Sales

Address

Orbe St., Brgy. Baybay Norte, Miag-ao, Iloilo

Sales Office and Cold Storage/Laboratory/Warehouse
Pangasinan Office and Warehouse - SMFI GTL Compound, San Vicente, San Jacinto, Pangasinan,- Poultry
2431
Warehouse
LSL Multi-Serve-Managed Warehouses Feeds
Pangasinan Warehouse - Feeds
MMIJOE-Managed Warehouses - Feeds
SMCSL-Managed Warehouses - Feeds

D Meter-Managed Warehouses - Feeds
Tarlac Warehouse - Feeds
Camarines Sur Warehouse - Feeds
Pangasinan Warehouse - Feeds
Mandaluyong Warehouse - Feeds

Samar Warehouse-SMMI
Bulacan Warehouse - SMFI - Feeds
Batangas Warehouse - SMFI - Feeds
Bacolod Warehouse - SMFI - Feeds
Gen. Santos Warehouse - SMFI - Feeds

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

June 30, 2028

Renewable upon mutual agreement of bothparties

Renewable upon mutual agreement of bothparties
December 31, 2023
Renewable every year
504,128.80
December 31, 2023
Renewable every year
273,240.00
December 31, 2023
Renewable every year
1,886,640.00
198,000.00 Continuing unless terminated As mutually agreed upon between parties.
and agreed by both parties Should the parties continue their relations
upon expiry of term without the parties having
executed a written renewal, the Contract shallsubsist on a month to month basis.
Renewable every year
Mutually be agreed upon between the parties.

December 31, 2023
July 31, 2024
December 31, 2023

Renewable every year
Renewable every year
Continuing unless terminated and agreed byboth parties
882,028 (Jan-Apr) Continuing unless terminated Renewable upon mutual agreement of both
1,260,924 (May-Jul) and agreed by both parties parties
838,236 (Aug-Dec)

Page 13Company Name / Subsidiary

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Renewable for a period in accordance withthe mutual written agreement of both parties
Renewable for a period in accordance withthe mutual written agreement of both parties
Plan to renew until April 25, 2025

PACKAGING BUSINESS
1

A. DOMESTICSAN MIGUEL YAMAMURA PACKAGING CORPORATIONSMYPC Main Office, SMYPC Trading and SMYPC Contract Packaging
Building / Office Space
San Miguel Properties Centre, Saint Francis St.,
Owned
Mandaluyong City
SMYPC Rightpak Plant, SMYPC Canlubang PET & Caps Plant, SMYPC MCLP Canlubang Plant and SMYPC Leasing Operations
Land
Canlubang Industrial Estate, Canlubang, Laguna
Owned
SMYPC Cebu Beverage Packaging Plant, SMYPC Cebu Glass Plant and SMYPC MCLP Mandaue Plant
Land
SMC Mandaue Complex, Hi-way, Tipolo, Mandaue City,
Owned
Cebu
SMYPC MCLP Mandaue
Warehouse - SMC
SMC Mandaue Complex, Hi-way, Tipolo, Mandaue City,
Owned
Cebu
Warehouse - Brewery
SMC Mandaue Complex, Hi-way, Tipolo, Mandaue City,
Owned
Cebu
SMYPC Cebu Beverage Packaging Plant & SMYPC Cebu Glass Plant
Warehouse
SMC Wharf, Tipolo, Mandaue City, Cebu
Owned
SMYPC Cebu Glass Plant
Warehouse
Quano Wharf, Mandaue City
Owned
Warehouse
GSK, Jagobiao, Mandaue City
Rented

Good

Good
Good

Good
Good

Good
Good
Good

2,831,940.00

December 31, 2024

RentedGood453,065.00

October 14, 2024

Warehouse
Bassett Land, Tayud, Consolacion
Warehouse
CBPP, SMC Complex, Mandaue City
SMYPC San Fernando Bev. Packaging Plant
Land and Warehouse
Brgy. Maimpis, City of San Fernando, Pampanga (Gate2, SMC PET Plant)
SMYPC Pet Recycling Plant and SMYPC MCLP San Fernando Plant
Land
SMC San Fernando Complex, Quebiauan, San
Fernando City
SMYPC Manila Glass Plant
Land
Muelle dela Industria St., Binondo, Manila City
Warehouse
San Fernando Brewery, San Fernando, Pampanga
Warehouses 1, 2 & 3
No. 35 Calle Malusak, San Pablo, Malolos City, Bulacan

Rented
Owned

Good
Good

155,520.00

April 25, 2024

Owned

Good

Owned

Good

Owned
Owned
Rented

Good
Good
Good

881,684.70

June 30, 2024

Warehouses

RentedGood

340,200.00

December 31, 2023

Warehouse Extension 2

No.10 T. Santiago St., Plastic City Compound, Canumay,
Valenzuela City
Mabalas Brgy Calulut San Fernando Pampanga

RentedGood507,500.00

April 30, 2024

Warehouse Extension 3

Mabalas Brgy Calulut San Fernando Pampanga

RentedGood

261,000.00

April 30, 2024

Barrio Halayhay, Tanza, Cavite

Owned

Good

2068 B Candido St. Mapulang Lupa, Valenzuela City

RentedGood

1,252,650.24

May 31, 2025

#276 Boontown Industrial Park Brgy. Tambobong,
Bocaue , Bulacan
MCLP warehouse ,Canlubang Laguna

RentedGood525,000.00

September 30, 2024

Owned

Good

Warehouse

SMYPC Glass Business OfficeLand
SMYPC Manila Plastics Plant
GTU Warehouse
Bocaue Warehouse (Ecostorage)
MCLP Warehouse

LDGP, Tayud, Consolacion

Renewable for a period in accordance withthe mutual written agreement of both parties
For renewal for 6 mos period only (JanJun2024)
Renewable for a period in accordance withthe mutual written agreement of both parties
Renewable for a period in accordance withthe mutual written agreement of both parties

Renewable for a period in accordance withthe mutual written agreement of both parties
Renewable for a period in accordance withthe mutual written agreement of both parties

Page 14

Company Name / Subsidiary

2
3
4

5
6

8
9
10
11

12

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

SMYPC MPP Cebu Operations
Warehouse
Warehouse
Warehouse Rental of Bassette Land

Mandaue Cebu
SMC Wharf, Tipolo, Mandaue City, Cebu
Sitio Bangkerohan, Tayud, Consolacion

Owned
Owned
Rented

Good
Good
Good

620,978.40

December 31, 2023

Renewable for a period in accordance withthe mutual written agreement of both parties> With renewal of contract for BPG
Processing Jan 01, 2024 to Dec 31, 2024)

SMYPC SMY Glass Plant
Land
Land & Warehouse
Warehouse

Km 27, Aguinaldo Highway, Imus, Cavite
Canlubang Industrial Estate, Canlubang, Laguna
Quezon Road, San Simon, Pampanga

Owned
Owned
Rented

Good
Good
Good

963,424.00

March 31, 2024

Renewable for a period in accordance withthe mutual written agreement of both parties

Warehouse
Springfield Warehouses

Tagoloan, Misamis Oriental
Sitio Pantay, Brgy. Maguyam, Silang Cavite

Owned
RentedGood
Good

2,226,056.00

June 04, 2024

STMI

Km 52 Bo Lawa, Calamba Laguna

RentedGood

2,959,875.00

April 15, 2024

Renewable for a period in accordance withthe mutual written agreement of both parties
Renewable for a period in accordance withthe mutual written agreement of both parties

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Land Use Rights

Good

RentedGood518,720.45

January 31, 2026

Negotiation by both parties

RentedGood319,606.35

March 12, 2024

Negotiation by both parties

RentedGood699,152.56

October 31, 2025

Negotiation by both parties

Land Use Rights

Good

Land Use Rights

Good

Land Use Rights

Good

Owned

Good

Owned

Good

Owned

Good

Governor Dr., Bo. De Fuego, Bgy. San Francisco, Gen.
SMC YAMAMURA FUSO MOLDSTrias, Cavite
CORPORATIONMINDANAO CORRUGATED FIBREBOARD, INC.
Land
Km 12 Sasa, Davao CityCAN ASIA, INC.
Land
Bgy. San Francisco de Malabon, Gen. Trias, Cavite
B. INTERNATIONAL
SAN MIGUEL YAMAMURA PACKAGING 9/F Citimark Building, 28 Yuen Shun Circuit, Siu Lek
Yuen, Shatin, N.T. Hongkong, PRC
INTERNATIONAL LTD. AND SANMIGUELYAMAMURAGLASSZHAOQING
SAN MIGUELYAMAMURA GLASS COMPANY LTD.
Plant

7

Address

12 North Avenue, Housha St., Zhaoqing City Guangdong
Province, PRC
Warehouse
Duanzhou Science and Technology Industrial Area,
Zhaoqing City
Warehouse
Duanzhou seven road and Mugang South Road
interchange,Zhaoqing City
Warehouse
Duanzhou district Taihe Road Junfu Industrial Park thirdbuilding four，Zhaoqing City
3 Dongdi Road, Junan Township, Guangdong Province,
FOSHAN SAN MIGUEL YAMAMURA
PRC
PACKAGING COMPANY LTD.
SAN MIGUEL YAMAMURA HAIPHONG 17-A Ngo Quyen St., Ngo Quyen District, Haiphong City,
Vietnam
GLASS COMPANY LTD.
1 Le Van Khuong Street, Hiep Thanh Ward, District 12,
SAN MIGUEL YAMAMURA PHU THO
Ho Chi Minh City, Vietnam
PACKAGING COMPANY LTD.
No. 172, Jalan Usaha 5, lots 83, 84, 85, 75, 76 Ayer
SAN MIGUEL YAMAMURA PLASTICS
Keroh Industrial Estate, 75450 Melaka, Malaysia
FILMS SDN. BHD.
SAN MIGUEL YAMAMURA PACKAGING Lot 5078 and 5079, Jalan Jenjarum 28/39, Seksyen 28,
40400 Shah Alam, Selangor Darul Ehsan, Malaysia
AND PRINTING SDN. BHD. AND
PACKAGING RESEARCH CENTRE
SDN. BHD.
SAN MIGUEL YAMAMURA WOVEN PRODUCTS SDN. BHD.
Office Space
Lot 9 and 10, Jalan Usuha 4, Ayer Keroh Industrial
Estate, 75450 Melaka, Malaysia
Lot 4305, Jalan Usaha 8, Ayer Keroh Industrial Estate,75450 Melaka, Malaysia

Page 15

Company Name / Subsidiary13

14

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

The tenancy will automatically renew every 2
years for 5 consecutive terms subject to earlytermination.
In the event that the Tenant is desirous ofextending the period of Tenancy hereincreated, the Landlord shall upon receipt of awritten request from the Tenant made not lessthan three (1) month before expiration of theterm hereby created, at the expense of the
Tenant, grant to the Tenant a tenancy of thePremises for a further term of one (1) year
from the expiration of the Term (the “Renewal
Term”).

Plant

Lot 75, Jalan Usaha 5, Ayer Keroh Industrial Estate,75450 Melaka

RentedGood

MYR 22,932.00

December 31, 2024

Warehouse

Lot 4320, Jalan Usaha 6, Ayer Keroh Industrial Estate,75450 Melaka, Malaysia

RentedGood

MYR 6,800.00

March 30, 2024

Warehouse

83, Jalan Usaha 6, Kawasan Perindustrian Air Keroh,
75450 Melaka, Malaysia

RentedGood

MYR 9,500.00

February 28, 2025

In the event that the Tenant is desirous ofextending the period of Tenancy hereincreated, the Landlord shall upon receipt of awritten request from the Tenant made not lessthan three (1) month before expiration of theterm hereby created, at the expense of the
Tenant, grant to the Tenant a tenancy of thePremises for a further term of one (1) year
from the expiration of the Term (the “Renewal
Term”).

Owned

Burnt in fire

Owned

Burnt in fire

Owned

Good

RentedGood

MYR 35,000.00

March 31, 2026

Renewable upon mutual agreement of bothparties

RentedGood

AUD 161,592.00

July 31, 2027

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

INSA ALLIANCE SDN. BHD.
Office Space

Plo 64 & Plo 65, Jln Kejuteraan 4, Kaw. Perindustrian, Jln
Genuang, 85000 Segamat, Johor.
Plant
Plo 64 & Plo 65, Jln Kejuteraan 4, Kaw. Perindustrian, Jln
Genuang, 85000 Segamat, Johor.
WarehousePlo 136, Jln Kejuteraan 4, Kaw. Perindustrian, Jln
Genuang, 85000 Segamat, Johor.
Plant
PT 3197, Jalan TP 3, Taman Perindustrian Bukit Rambai
Fasa 6, 75260 Melaka.
SAN MIGUEL YAMAMURA AUSTRALASIA
Office1 Culverston Road, Minto NSW, Australia
Production

21 Huntsmore Road, Minto NSW, Australia (Unit 1)

RentedGood

AUD 24,873.00

July 31, 2027 - Unit 1

SMYC PTY LTD
Warehouse

117-121 Lewis Rd, Knoxfield, Victora

RentedGood

AUD 95,781.00

September 07, 2031

RentedGood

AUD 35,981.00

October 31, 2027

Warehouse

Warehouse 5, Acacia Link Industrial Estate, 25 Industrial
Crescent, Willawong, Queensland
30-32 Rosberg Rd, Wingfield, South Australia

RentedGood

AUD 49,172.00

June 18, 2027

Warehouse

52 McDowell Street Welshpool, Western Australia

RentedGood

AUD 39,878.00

September 30, 2024

Warehouse

22 Kinta Drive, Beresfield, Newcastle

RentedGood

AUD 7,917.00

November 30, 2024

Warehouse

10-12 Linear Court, Derwent Park, Tasmania

RentedGood

AUD 15,435.00

November 16, 2023

SMYP PTY LTD
Plant

21 Huntsmore Road, Minto NSW, Australia (Unit 2)

RentedGood

AUD 30,851.00

July 31, 2027

Warehouse

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Page 16

Company Name / Subsidiary

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Warehouse

21 Huntsmore Road, Minto NSW, Australia (Unit 3)

RentedGood

AUD 32,048.00

July 31, 2030

Plant

114-118 Talinga Road, Cheltenham, Victora

RentedGood

AUD 83,333.00

January 01, 2028

Plant

160 May Terrace Ottoway, South Australia

RentedGood

AUD 52,235.00

October 17, 2026

Plant

160 May Terrace Ottoway, South Australia

RentedGood

AUD 27,206.00

November 01, 2026

Plant

Lionels Vineyard, Payne Road Jindong, Western
Australia (Margaret River)

RentedGood

AUD 31,104.00

July 01, 2029

34-38 Aldershot Road, Lonsdale South Australia

Owned

Good

Lot 147, Sturt Highway, Nuriootpa, South Australia

RentedGood

AUD 44,278.00

February 01, 2031

Renewable upon mutual agreement of bothparties

SMYBB Pty Ltd
Plant/Office463-469 Cowra Avenue, Mildura, Victora

RentedGood

AUD 24,468.00

July 31, 2027

Renewable upon mutual agreement of bothparties

Plant/OfficePlant/Office487-501 Cowra Avenue, Mildura, Victora
503-513 Cowra Avenue, Mildura, Victora

Owned
RentedGood
Good

AUD 29,855.00

May 16, 2025

Plant

Port Adelaide Distribution Centre
25-91 Bedford Road Gillam SA
Warehouse 02, 95 South Gippsland Highway,
Dandenong South, Victoria

RentedGood

AUD 26,706.00

July 06, 2025

RentedGood

AUD 79,991.00

April 27, 2026

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

SMYJ Pty Ltd
Plant/Office

50 Bond Street Mordialloc Victora

RentedGood

AUD 36,513.00

July 10, 2024

Plant/Office

48 Bond Street Mordialloc Victora

RentedGood

AUD 21,759.00

July 29, 2025

15

COSPAK LIMITED

RentedGood

NZD 138,307.71

July 31, 2026

16

FOSHAN NANHAI COSPAKPACKAGING COMPANY LIMITED27 Ross Reid Place, East Tamaki, Auckland, New
Zealand
Beijia Team of Niande Village Committee, Nanfeng
Road, Leping Town, Sanshui District, Foshan City,
Guangdong Province, PRC

RentedGood¥ 63,275

SMYV PTY LTD
Plant/Office
Barossa Bottling Pty Ltd
Plant/Office

Plant

October 31, 2024

Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties
Renewable upon mutual agreement of bothparties

Page 17

Company Name / Subsidiary

Address

Rented / Owned

Condition

Owned
Owned
Owned

Good
Good
Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

FUEL AND OIL BUSINESS
1PETRON CORPORATION
Refinery and Powerplant
Petron Bataan Refinery
Power Plant (Units 1, 2, 3 and 4)
Polypropylene Plant

Petron Bataan Refinery, Limay, Bataan
Brgy. Lamao, Limay, Bataan
PNOC-AFC Petrochemicals Estate
Barangay Batangas Dos Mariveles, Bataan

Metro Manila and Manufacturing
Terminal (Navotas)

PFDA CMPD., Navotas, M.M.

Rented Except
Building & Facilities

Good

1,450,558.33

Aug 26, 2039

Renewable upon mutual agreement of bothparties

Terminal (Rosario)

Gen. Trias, Rosario, Cavite

Rented Except
Building & Facilities

Good

268,013.66

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Pandacan)

Jesus St., Pandacan, Manila

Rented Except
Building & Facilities

Good

1,812,664.86

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (SLHBTC)Lube Oil Manufacturing Plant

Tondo, Manila
Block 12 and Pipeline Row, Harbour Centre, North
Harbor, Tondo, Manila.
Block 13, Harbour Centre, North Harbor, Tondo, Manila

Owned
Owned

Good
Good

Owned

Good

Airport Installations

Laoag Airport Installation, Laoag Airport, Brgy. Araniw,
Laoag City

Rented Except
Building & Facilities

Good

3,180.00

October 31, 2029

Renewable upon mutual agreement of bothparties

Airport Installations

NAIA Airport Installation (Petron) & JOCASP, JOCASP
Compound, NAIA Complex, Pasay City

Rented Except
Building & Facilities

Good

833,133.46

December 31, 2035

Renewable at the option of the lessee

Luzon Operations
Terminal (Palawan)

Brgy. Masipag, Puerto Princesa CityGood

173,643.75

November 30,2024

Renewable at the option of the lessee

Terminal (Palawan)

Parola, Brgy. Maunlad, Puerto Princesa City, Palawan

Rented Except
Building & Facilities
Rented Except
Building & Facilities

Good4,222.12

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Sales Office (Pasacao)

Sitio Camangui, Brgy. Santa Rosa del Sur, Pasacao,
Camarines Sur

Rented Except
Building & Facilities

GoodJan - 489,675.38
Jun - 514,159.14

May 31, 2027

Renewable upon mutual agreement of bothparties

Terminal (Poro)

Poro Pt.,San Fernado, La Union

Rented Except
Building & Facilities

Good

314,841.71

February 28, 2023

Renewable upon mutual agreement of bothparties

Terminal (Poro)

Poro Pt.,San Fernado, La Union

Rented Except
Building & Facilities

Good

22,279.97

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Poro)

Poro Pt.,San Fernado, La Union

Rented except Building& Facilities

Good

25,300.00

June 01, 2021

Renewable upon mutual agreement of bothparties

Sales Office (Calapan)

Sixteen Enterprises Compound, Brgy. Masipit, Calapan
City, Oriental Mindoro

RentedGood

Jan - 26,741.14
Jul - 28,078.19

June 30, 2027

Renewable upon mutual agreement of bothparties

Sales Office (San Jose)

Purok Tagumpay 2, Brgy. Caminawit, San Jose,
Occidental Mindoro

RentedGood

17,000.00

April 30, 2026

Renewable upon mutual agreement of bothparties

Sales Office (Masbate)

MasbateRented except Building& Facilities

Good

4,759.53

December 31, 2026

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Batangas)

Bo. Mainaga, Mabini, Batangas

Rented Except
Building & Facilities

Good

41,987.17

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Bataan)

Limay, Bataan

Rented Except
Building & Facilities

Good

1,611.84

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Sales Office (Odiongan)
Terminal (SL PanAsia)
Terminal (SL PanAsia)

Brgy Poctoy, Odiongan, Romblon
Limay, Bataan
Limay, Bataan

RentedOwned
Rented

Good
Good
Good

67,175.33

December 31, 2051

Renewable at the option of the lessee

43,836.00

December 31, 2024

Renewable upon mutual agreement of bothparties

Lube Oil Manufacturing Plant

Page 18

Company Name / Subsidiary

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Airport Installations

Puerto Princesa Airport, Palawan

RentedGood

80,762.50

September 30, 2025

Renewable upon mutual agreement of bothparties

Visayas Operations
Depot (Amlan)

Tandayag, Amlan, Negros Oriental

Rented Except
Building & Facilities

Good

57,594.16

November 30, 2033

Renewable at the option of the lessee

Terminal (Bacolod)

Bo. San Patricio, Bacolod City, Negros Occidental

Rented Except
Building & Facilities

Good

86,265.59

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Bacolod)
Depot (Siquijor Mini BP)

Bo. San Patricio, Bacolod City, Negros Occidental
Candanay Sur, Siquijor

Good
Good

180,912.91

March 31, 2035

with 5% escalation per year

Terminal (Iloilo)

Lapuz, Iloilo City

Owned
Rented Except
Building & Facilities
Rented Except
Building & Facilities

Good

30,408.92

August 31, 2023

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Iloilo)

Lapuz, Iloilo City

Rented Except
Building & Facilities

Good~3,500,000 (thruput-based)

April 04, 2039

Effective for 20 years

Terminal (Iloilo)
Depot (Isabel)Lapuz, Iloilo City
LIDE, Isabel, Leyte

Owned
Rented Except
Building & Facilities

Good
Good

Awaiting offered lease ratefrom lessor

November 30, 2024

Renewable upon mutual agreement of bothparties

Terminal (Mactan)

MEPZ, Lapu- lapu City

Rented Except
Building & Facilities

Good

780,000.00

September 30, 2045

Continuing unless terminated by both parties

Terminal (Mactan)

MEPZ, Lapu- lapu City

Rented Except
Building & Facilities

Good

11,570.88

September 30, 2043

Continuing unless terminated by both parties

Terminal (Mactan)

MEPZ, Lapu- lapu City

Rented Except
Building & Facilities

Good

104,000.00

December 31, 2023

Continuing unless terminated by both parties

Terminal (Ormoc)

Bo. Linao, Ormoc City, Leyte

Rented Except
Building & Facilities

Good

26,831.40

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Ormoc)

Bo. Linao, Ormoc City, Leyte

Rented Except
Building & Facilities

Good

5,000.00

May 31, 2025

Renewable upon mutual agreement of bothparties

Terminal (Roxas)
Terminal (Tacloban)

Sitio Pook, Brgy. Culasi, Roxas, City
Anibong, Tacloban City

Owned
Rented Except
Building & Facilities

Good
Good

15,233.33

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Tacloban)

Anibong, Tacloban City

Rented Except
Building & Facilities

Good

434,109.38

January 02, 2039

Renewable upon mutual agreement of bothparties

Depot (Tagbilaran)

Graham Ave., Tagbiliran, Bohol

Rented Except
Building & Facilities

Good

4,579.76

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Mandaue)

Looc, Mandaue City, Cebu

Rented Except
Building & Facilities

Good

61,414.63

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Mandaue)
Airport Installations

Looc, Mandaue City, Cebu
Iloilo Airport, Cabatuan, Iloilo City

Owned
Rented Except
Building & Facilities

Good
Good

Mindanao Operations
Terminal (Davao)

Km. 9, Bo. Pampanga, Davao City

Rented Except
Building & Facilities

Good

163,360.53

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Bawing)
Terminal (Iligan)

Purok Cabu, Bawing, General Santos City
Bo. Tomas Cabili, Iligan City, Lanao del Norte

Owned
Rented Except
Building & Facilities

Good
Good

10,303.79

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Jimenez)

Jimenez, Misamis Occidental

Rented Except
Building & Facilities

Good274,625.00

March 02, 2035

Renewable upon mutual agreement of bothparties

Terminal (Jimenez)

Jimenez, Misamis Occidental

Rented Except
Building & Facilities

Good274,625.00

December 16, 2029

Renewable upon mutual agreement of bothparties60,260.27 Continuing unless terminated Terminal has an ongoing application withand agreed by both parties CAAP Iloilo for a long term contract in Iloilo(20-25 yrs)

Page 19

Company Name / Subsidiary23

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Terminal (Nasipit)
Terminal (Nasipit)

Talisay, Nasipit, Agusan del Norte
Talisay, Nasipit, Agusan del Norte

Owned
RentedGood
Good82,500.00

Terminal (Nasipit)

Talisay, Nasipit, Agusan del Norte

RentedGood

7,310.00

July 31, 2029

Terminal (SL Phividec)

SL Phividec, Mindanao

Owned

Good

Terminal (Tagoloan)

Tagoloan, Misamis Oriental PNOC- 13,836 sq m

Rented Except
Building & Facilities

Good

14,205.15

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Terminal (Tagoloan)

Tagoloan, Misamis Oriental - 13,499 sq m.

Owned

Good

Terminal (Tagoloan)

Rented Except
Building & Facilities
Rented Except
Building & Facilities

Good

100,623.60

February 9, 2034

Renewable at the option of the lessee

Terminal (Zamboanga)

Tagoloan, Misamis Oriental PHIVIDEC/NVRC (FLA)19,965 sq m.
Bgy. Campo Islam, Lower Calarian, Zamboanga CityGood

32,532.63

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Airport Installations

Laguindingan, Misamis Oriental CAAP- 4000 sq m.

Rented Except
Building & Facilities

Good

200,187.50

March 30, 2025

Renewable upon mutual agreement of bothparties

Airport Installations

Davao Airport

Rented Except
Building & Facilities

Good

32,850.00

December 31, 2024

Renewable upon mutual agreement of bothparties

Airport Installations

Zamboanga International Airport

Rented Except
Building & Facilities

Good

84,540.00

November 30, 2029

Renewable at the option of the lessee

Gasul Operations
Depot (LPG Operation)

Lakandula Drive, brgy. Bonot, Legaspi City

Rented Except
Building & Facilities

Good

43,169.61

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Depot (Gasul - San Fernando)

Brgy Dela Paz Norte, San Fernando, Pampanga

Rented Except
Building & Facilities

Good

9,691.29

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Refilling Plant (San Pablo)

San Pablo

Owned

Good

Terminal (Gasul – Pasig)

Bo. Ugong, C5,Pasig, M.M

Rented Except
Building & Facilities

Good

955,475.80

August 31, 2018

Renewable upon mutual agreement of bothparties. Ongoing lease renewal.

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

RentedGood

Rented Except
Building & Facilities

Good

PETROFUEL LOGISTICS INC.
OfficeSMC Head Office Complex, #40 San Miguel Avenue,
Mandaluyong CityPETRON MALAYSIA REFINING & MARKETING BHD
RefineryPort Dickson RefineryLot 1222, 1593-1595, 1757, 1803, 1805, 1836, 1838,1926-1930, 2645-2647, 12111-12112, 30151-30156
Mukim Port Dickson, Negeri Sembilan
Lumut LPP plantLot 15636, Lumut Port Industrial Park, Mukim Lumut,
Jalan Kampung Acheh, Sitiawan, Perak.
Terminals and Depots
Port Dickson Terminal
Batu 1.5, Jalan Pantai, 71009 Port Dickson, Negeri
Sembilan
Bagan Luar Terminal
Lot 95-125, Lot 2327-2338 Section 4 Butterworth,
Seberang Perai Utara, Penang
KLIA Aviation Depot
Forward Fuel Base, Jalan FFB Kuala Lumpur
International Airport (KLIA) 64000 Sepang Selangor
Darul Ehsan, Malaysia
KVDT- MPP (Tie-in facilities for
GM 1397 Lot 194 Mukim and Daerah Port Dickson
MPP/KVDT)
Negeri Sembilan

December 31,2024
Renewable upon mutual agreement of both
Awaiting approval from Legal parties. Yearly renewal
Renewable at option of the lessee

MYR 8,976.00 Continuing unless terminated Contract automatically renewed on yearly
and agreed by both parties basis unless terminated in accordance withthe termination provision in the agreement
MYR 8,100.00
June 30, 2026
Renewable upon mutual agreement of bothparties

Page 20

Company Name / Subsidiary

4

Address

PETRON FUEL INTERNATIONAL SDN BHD
Kuantan Terminal
Lot 1863, Mukim Sungai Karang, Tanjung Gelang,
Kuantan Port, 26100 Kuantan. PAHANG

Pasir Gudang Terminal

Jalan Cecair Satu, Kawasan Perdagangan Bebas,
Lembaga Pelabuhan Johor, 81700 Pasir Gudang, Johor.

Rented / Owned

Condition

RentedGood

RentedGood

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Terminal 1
MYR 20,895.61

Terminal 1
Dec 2027

Current rate is RM13.27 per square meter per
year from 1st January 2022 until 31st Dec
2025 and shall be increased by 10% on 1st
January 2026 and after every three (3) years
thereafterTerminal 2
MYR 19,693.79

Terminal 2
Dec 2027

MYR 9,788.00

June 2051

Current rate is RM13.27 per square meter per
year from 1st January 2022 until 31st Dec
2025 and shall be increased by 10% on 1st
January 2026 and after every three (3) years
thereafter

An option for renewal for a period of thirty (30)years.
Note: Revision of assessment fee effective
2017 by Johor Port after approval by MPPG.

Westport JV
5

Terminal Bersama Sdn Bhd, Jeti Petrokimia, Pelabuhan
Barat, 49290 Pulau Indah, Selangor

RentedGood

MYR 54,994.50

Aug 2024

Renewable upon expiry of lease term

PETRON OIL (M) SDN BHD
Tawau Terminal

Jalan Tg Batu Laut, 91000 Tawau, Sabah

Rented Except
Building & Facilities

Good

MYR .125(Yearly Rental - MYR 1.50)

October 2902

No option stated in the agreement

Sandakan Terminal

Jalan Kampung Karamunting, Sandakan, Sabah

Rented Except
Building & Facilities

Good

MYR 778,000.00(Total Rental)

31 Dec 2078

Sepangar Bay Terminal

P.O. Box 10558, Kota Kinabalu 88806, Sabah

Rented Except
Building & Facilities

Good

MYR 25,333.33(Yearly Rental MYR 304,000.00)

July 2031

Revised lease offered to start from
01/01/2019 (backdate) for a period of sixty(60) years. The lease has been fully paid in
2021.
An option for renewal for a period of 15
years.

Page 21

Company Name / Subsidiary

Address

Rented / Owned

Condition

IPPA with PSALM

Good

IPPA with PSALM

Good

Owned

Good

RentedGood

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options$35,202,754.12 (one time
payment)

April 04, 2047

Renewable for another 25 years or theremaining corporate life of the Lessor if its
original corporate life is extended, whicheveris shorter, upon mutual written agreement ofboth parties.

ENERGY BUSINESS
1

2

3

SUAL POWER INC. (formerly SAN MIGUEL ENERGY CORPORATION)(a)1000 MW Sual Coal-Fired Thermal Power Brgy. Pangascasan, Sual, Pangasinan
Plant
SAN ROQUE HYDROPOWER INC. (formerly STRATEGIC POWER DEVT. CORP.)(b)345 MW San Roque Multi-Purpose
Brgy. San Roque, San Manuel, Pangasinan
Hydroelectric Power Plant
SOUTH PREMIERE POWER CORP.
1200 MW Ilijan Natural Gas Combined
Brgy. Ilijan, Batangas City, Batangas
Cycle Power Plant
Land (where the 1200 MW Ilijan Natural
Brgy. Ilijan, Batangas City, Batangas
Gas Combined Cycle Power Plant andrelated facilities are situated)

With assignable option to purchase upon
issuance by the Lessor of an Option
Existence Notice.
4

LIMAY POWER INC. (LPI; formerly SMC CONSOLIDATED POWER CORPORATION) (c)(i)Phase I - 2 X 150 MW Coal-Fired Power Brgy. Lamao, Limay, Bataan
Plant (Units 1 and 2)
Phase II - 2 X 150 MW Coal-Fired Power Brgy. Lamao, Limay, Bataan
Plant (Units 3 and 4)
Land - Site 1 (where a portion of the
Brgy. Lamao, Limay, Bataan
Phase I power plant and related facilities
are situated)
Land - Site 2 (where a portion of the
Brgy. Lamao, Limay, Bataan
Phase II power plant and related facilities
are situated)
Land (Ash Dump Facility)
Brgy. Lamao, Limay, Bataan
Offshore/Foreshore land
Brgy. Lamao, Limay, Bataan
Land - Site 3 (where a portion of thePhase II power plant and related facilities
are situated)

5

Brgy. Lamao, Limay, Bataan

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned
RentedGoodGood

2,034,084.17

December 2042

RentedGood

512,248.44

March 2042

Owned

Good

Owned
Owned

MALITA POWER INC. (MPI; formerly SAN MIGUEL CONSOLIDATED POWER CORPORATION) (d)(j)2 X 150 MW Coal-Fired Power Plant (Units Brgy. Culaman, Malita, Davao Occidental
1 and 2)5 X 1.6 MW Diesel Generator Set
Brgy. Sangali, Zamboanga, Philippines
1 X TM2500 60HZ Mobile Gas Turbine
Brgy. Sangali, Zamboanga, Philippines
Generator
Land (where Units 1 and 2 power plant
Brgy. Culaman, Malita, Davao Occidental
and related facilities are situated)
Offshore/Foreshore land
Brgy. Culaman, Malita, Davao Occidental

Owned

Good
Ongoing
construction
Good

RentedGood

55,300.51

February 2043

Offshore/Foreshore land

Brgy. Culaman, Malita, Davao Occidental

RentedGood558,354.47

February 2043

Offshore/Foreshore Land

Brgy. Culaman, Malita, Davao Occidental

RentedGood

387,903.40

February 2048

Offshore/Foreshore Land

Brgy. Culaman, Malita, Davao Occidental

RentedGood

570,000.00

May 2048

Offshore/Foreshore Land

Brgy. Culaman, Malita, Davao Occidental

RentedGood754,780.02

May 2048

Renewable for another 25 years at the optionof the Lessor
Renewable for another 25 years to be agreed
by both parties

Renewable for another 25 years at the optionof the Lessor
Renewable for another 25 years at the optionof the Lessor
Renewable for another 25 years at the optionof the Lessor
Renewable for another 25 years at the optionof the Lessor
Renewable for another 25 years at the optionof the Lessor

Page 22Company Name / Subsidiary

6

7

GRAND PLANTERS INTERNATIONAL INC.
Land - Site 1 (where a portion of the LPI
Brgy. Lamao, Limay, Bataan
Phase I and II power plants and related
facilities are situated)
Land - Site 2
Brgy. Alangan, Limay, Bataan
Land
Brgy. Biaan, Mariveles, Bataan
Land
No. 169 E. Delos Santos Avenue, Mandaluyong City
MASINLOC POWER CO. LTD. (MPCL; formerly Masinloc Power Partners Co. Ltd.) (e)(k)344 MW coal-fired power plant (Unit 1)
Brgy. Bani, Masinloc, Zambales
344 MW coal-fired power plant
Brgy. Bani, Masinloc, Zambales(Unit 2)335 MW coal-fired power plant (Unit 3)
Brgy. Bani, Masinloc, Zambales
350 MW coal-fired power plant (Unit 4)
Brgy. Bani, Masinloc, Zambales
350 MW coal-fired power plant (Unit 5)

8

9

11

Brgy. Bani, Masinloc, Zambales

Rented / Owned

Condition

Owned

Good

Owned
Owned
Rented

Good
Good
Good

Owned
Owned

Good
Good

Owned
Owned

Good
Ongoing
construction
Ongoing
construction
Good

Owned

10 MW battery energy storage project
Brgy. Bani, Masinloc, Zambales
Owned(Phase 1)
20 MW battery energy storage system
Brgy. Bani, Masinloc, Zambales
Owned(Phase 2)
Land (where Units 1, 2, 3, 4 and 5 power Brgy. Bani, Masinloc, Zambales
Owned
plant and related facilities, and the 10 MW
and 20 MW Battery Energy Storage
Systems (BESS) projects of MPCL aresituated)
Land (where Units 3, 4, 5 power plants
Brgy. Bani, Masinloc, Zambales
Rentedand related facilities are situated)(f)
SMGP KABANKALAN POWER CO. LTD. (formerly SMCGP PHILIPPINES ENERGY STORAGE CO. LTD.)Land (where the 20 MW and 10MW BESS Brgy. Binicuil, Kabankalan, Negros Occidental
Owned
are situated)
20 MW BESS (Phase 1)
Brgy. Binicuil, Kabankalan, Negros Occidental
Owned
10 MW BESS (Phase 2)
Brgy. Binicuil, Kabankalan, Negros Occidental
Owned
MARIVELES POWER GENERATION CORPORATION
4 x 150 MW Coal-Fired Power Plant
Sitio Lusong, Brgy. Biaan, Mariveles, Bataan

Good

892,857.14

Expiry of Lease Contract

March 22, 2036

Terms of Renewal / Options

Renewable

Lease with PSALM US$3,966.43

April 2028

With assignable option to purchaseP33,528,000 (one time
payment)

October 31, 2046

Renewable upon mutual agreement by bothparties

April 15, 2045

Renewable upon mutual agreement by bothparties

Good
Good
Substantiallycomplete

Sitio Lusong, Brgy. Biaan, Mariveles, Bataan

Owned

Sitio Lusong, Brgy. Biaan, Mariveles, Bataan

Owned

Good

Brgy. Malaya and Maligaya, Mariveles Bataan

RentedGood

Land (for transmission line)
Brgy. Biaan, Mariveles, Bataan
TOPGEN ENERGY DEVELOPMENT INC.
Land (where the 10 MW Tagum BESS
Brgy. Magdum Tagum City, Davao del Norteproject of SBPI is situated)
Land
Barrio Centro Occidental, Polangui, AlbayLand
Brgy. Penafrancia, Daraga, Albay

Owned

Good

Owned

Good

Owned
Owned

Good
Good

Owned
Owned
Land - Rented;
BESS - Owned

Good
Good
Land - Good;BESS - GoodSMGP BESS POWER INC. (SBPI; formerly UNIVERSAL POWER SOLUTIONS, INC.)
Brgy. Culaman, Malita, Davao Occidental
Land and 20 MW Malita BESS
Land and 50 MW Lamao BESS
Brgy. Lamao, Limay, Bataan
Land and 40 MW Bataan Combined Cycle Brgy. Luz, Limay, Bataan
Power Plant BESS

Owned

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Substantiallycomplete
Good

Ongoing
construction
Good

Land (where the 4 x 150 MW coal-fired
power plant project is situated)
Land (where the transmission network
project is situated)
Land (for transmission line)

10

Address(g)(l)

205,528.05

Page 23

Company Name / Subsidiary

12

Address

Rented / Owned

Condition

Land - Good;BESS Substantiallycomplete
Land - Good;BESS - GoodLand - Good;BESS Substantiallycomplete
Land - Good;BESS Ongoing
Construction
Land - Good;BESS Ongoing
Construction
Land - Good;BESS Ongoing
Construction
Land - Good;BESS - GoodLand - Good;BESS Substantiallycomplete
Land - Good;BESS Substantiallycomplete
Good
Land - Good;BESS - GoodLand - Good;BESS - GoodLand - Good;BESS Substantiallycomplete
Land - Good;BESS Substantiallycomplete
Land - Good;BESS Substantiallycomplete
Land - Good;BESS Ongoing
Construction
Good
Land - Good;BESS Ongoing
Construction

Land and 20 MW Jasaan BESS

Jasaan, Misamis Oriental

Land - Rented;
BESS - Owned

Land and 20 MW Toledo BESS

Calong-calong and Talevera, Toledo City, Cebu

Land and 20 MW Villanueva BESS

Brgys. Sta. Ana, Tagaloan and San Maritin , Villanueva,
Phividec Industrial Estate of Misamis Oriental - Special
Economic Zone (PIEMO-SEZ)

Land - Rented;
BESS - Owned
Land - Rented;
BESS - Owned

Land and 20 MW Tabango BESS

Brgy. Tugas, Tabango, Leyte

Land and 50 MW Mexico BESS

Brgy. San Jose Matulid, Mexico, Pampanga

Owned

Land and 20 MW Mexico-2 BESS

Brgy. San Jose Matulid, Mexico, PampangaLand - Rented;
BESS - Owned

Land and 20 MW Maco BESS

Owned

Land and 40 MW Gamu BESS

Brgys. Dumlan and Concepcion, Maco, Compostela
Valley, Davao del Norte
Brgy. Lenzon, Gamu, Isabela

Land and 40 MW Magapit BESS

Brgy. Magapit, Lal-lo, Cagayan

Owned

Land and 20 MW Ubay BESS
Land and 50 MW San Manuel BESS

Brgy. Imelda, Ubay, Bohol
Brgy. Sto. Domingo, San Manuel, Pangasinan

Owned
Owned

Land and 50 MW San Manuel BESS

Brgy. Sto. Domingo, San Manuel, Pangasinan

Owned

Land and 50 MW Concepcion BESS

Brgy. Sta. Rosa, Concepcion, Tarlac

Owned

Land and 40 MW Ormoc BESS

Brgy. Dolores, Ormoc City, Leyte

Owned

Land and 40 MW Ormoc BESS

Brgy. Dolores, Ormoc City, Leyte

Owned

Land and 50 MW Lumban BESS

Brgy. Halang & Lewin, Lumban, Laguna

Owned

Land and 10 MW Tagum BESS
Land and 20 MW Tabango BESS and
NGCP interconnection facility

Brgy. Magdum Tagum City, Davao del Norte
Barrio Tabango, San Isidro, Leyte

EXCELLENT ENERGY RESOURCES INC. (EERI)
Batangas Combined Cycle Power Plant
Barangay Ilijan and Dela Paz, Batangas(BCCPP)Land (where the BCCPP Project isBarangay Ilijan and Dela Paz, Batangas
situated)

Land - Rented;
BESS - Owned

Owned

Owned
Land - Rented;
BESS - Owned

Owned
Owned

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

2,160,000.00

April 15, 2045

Renewable upon mutual agreement by bothparties

900,000.00

April 15, 2045

342,368.34

June 04, 2045

Renewable upon mutual agreement by bothparties
Renewable upon mutual agreement by bothparties

4,326.85

March 01, 2036

Renewable upon mutual agreement by bothparties

372,023.81

June 03, 2036

Renewable upon mutual agreement by bothparties

95,250.23

September 26, 2032

Renewable upon mutual agreement by bothpartiesOngoing
Construction
Good

Page 24Company Name / Subsidiary

13

14
15

16

17

Address

Rented / Owned

Land (to be used as water source for
Barangay Dela Paz, Batangas
Owned
BCCPP)SAN MIGUEL GLOBAL POWER HOLDINGS CORP. (formerly SMC GLOBAL POWER HOLDINGS CORP.)(h)C5 Office Space
100 E. Rodriguez Jr. Avenue (C-5 Road) Brgy. Ugong,
Owned
Pasig City, Metro Manila
MULTI-VENTURES INVESTMENT HOLDINGS, INC.
Land
Ternate, Naic and Maragondon, Cavite
Owned
SMC GLOBAL LIGHT AND POWER CORP.
Land
Barangay San Luis, Cauayan City, Isabela
Owned
Land
Barangay Lucanin, Mariveles, Bataan
Owned
ILIJAN PRIMELINE INDUSTRIAL ESTATE CORP.
Land (a portion of which are used (i) for
Barangays Ilijan and Dela Paz, Batangas
Owned
the BCCPP and related facilities of EERIand (ii) for the Liquefied Natural Gas
Terminal of a third party)
BLUE EAGLE STAR, CORP.
Land
Maragondon and Ternate, Cavite
Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Good

Good

Good
Good
Good
Good

Good

Page 25

Company Name / Subsidiary

Address

Rented / Owned

Condition

Owned

Good

Owned

Good

Owned
Owned

Good
Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Rented

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned
Owned
Rented

Good
Good
Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

INFRASTRUCTURE BUSINESS
1

2

3

4

5

6

7

SAN MIGUEL HOLDINGS CORP.
Office Space

Wing A and B - 11/F San Miguel Properties Centre St.
Francis Street, Mandaluyong City
Office Space
20/F San Miguel Properties Centre St. Francis Street,
Mandaluyong City
Office Space - 83 sq meters
No. 40 San Miguel Avenue, Mandaluyong City
Office Space
4th Floor San Miguel Properties Center St. Francis Street
Mandaluyong City
Office Space - 635.75 sq meters
Unit C and D - 23rd Floor of the JMT Corporate
Condominium, ADB Avenue, Ortigas Center, Pasig City
Office Space
19th floor San Miguel Properties Centre St. Francis St.
Ortigas Center Mandaluyong City
Office Space
Unit A - 18th Floor of the JMT Corporate Condominium,
ADB Avenue, Ortigas Center Pasig City
SMC NAIAX Corporation (Formerly: VERTEX TOLLWAYS DEVT. INC.)
Office Space
11/F San Miguel Properties Centre, St. Francis Street,
Mandaluyong City
Office Space
Unit C 18th Floor of the JMT Corporate Condominium,
ADB Avenue, Ortigas Center
Parking(B-4) JMT Corporate Condominium, ADB Avenue,
Ortigas Center
Parking(B-2) JMT Corporate Condominium, ADB Avenue,
Ortigas Center
TERRAMINO HOLDINGS, INC AND ASSETVALUES HOLDING COMPANY, INC.
Office Space
11F and 20/F San Miguel Properties Centre St. Francis
Street, Mandaluyong City
UNIVERSAL LRT CORPORATION (BVI) LIMITED
Office Space
11/F San Miguel Properties Centre, St. Francis Street,
Mandaluyong City
TRANS AIRE DEVELOPMENT HOLDINGS, CORP.
Office Space
Wing B 2/F San Miguel Building, 40 San Miguel Ave.
Mandaluyong City
SMC TPLEX HOLDINGS COMPANY, INC.
Land
Emilio Vergara Highway Corner Mabini Street Extension,
Sta. Arcadia, Cabanatuan, Nueva Ecija
Land
Maharlika Highway, Malipampang, San Ildefonso,
Bulacan
SMC TPLEX CORPORATION
Office space (Old)
Unit 06 UG Pioneer Highlands Condo Tower 2, Pioneer
corner Madison Streets, Mandaluyong City
Office space
11th Floor San Miguel Properties Center St. Francis
Street Mandaluyong City
Office space
The JMT Bldg, ADB Ave. Ortigas Center, Pasig City
Parking
The JMT Bldg, ADB Ave. Ortigas Center, Pasig City
ROWA SMPI Office space
Burgos St. District1 Poblacion, Pozorrubio, Pangasinan

5,000.00

DPWH Office & Lodging

Narang-Ay Apartment, San Nicolas, Villasis, Pangasinan

RentedGood

49,065.42 (Mar 1, 2023 toFeb 28, 2024)
51,401.87 (Mar 1, 2024 toFeb 28, 2025)
18,947.37

DPWH Office & Lodging - Section1&2

ENS-NPM Residences, Barangay Abagon, Gerona
TarlacRentedGood

5,263.16

July 31, 2024

Annually

February 28, 2025

Subject to renewal or extension as mutuallyagreed between the parties

January 3, 2025
December 31, 2023

Subject to renewal or extension as mutuallyagreed between the parties
Subject to renewal or extension as mutuallyagreed between the parties

Page 26

Company Name / Subsidiary

8

9

10

11
12

13

Rented / Owned

Condition

Owned

Good

Owned

Good

Owned by the Service
Provider

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

3/F Toll Operations Building, Doña Soledad Avenue,
Brgy. Don Bosco, Parañaque City
11/F San Miguel Properties Centre, #7 St. Francis Street,
Ortigas Center, Mandaluyong City

Owned

Good

Owned

Good

1st and 2nd Floors TOB Doña Soledad Avenue, Bicutan,
Paranaque City
ALLOY MANILA TOLL EXPRESSWAYS INC.
Office SpaceGF Operations and Control Center, Km.44 South Luzon
Expressway, Sitio Latian, Brgy. Mapagong, Calamba
City, Laguna

Owned

Good

Owned by ROP(South Luzon Tollway
Corporation
Concession Rights)
Owned

Good

OPTIMAL INFRASTRUCTURE DEVELOPMENT, INC.
Land
Manila Harbour Centre, Brgy. 128 Zone 10 (Isla deBalut/Vitas), Tondo, Manila CityWISELINK INVESTMENT HOLDINGS, INC.
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
City
ATLANTIC AURUM INVESTMENTS B.V.
Office Space
Museumlaan 2, 3581 HK, Utrecht, The Netherlands
STAGE 3 CONNECTOR TOLLWAYS HOLDINGS CORPORATION
Office Space
40 San Miguel Avenue, Mandaluyong City
SMC SKYWAY STAGE 3 CORPORATION (Formerly: CITRA CENTRAL EXPRESSWAY CORP)
Office Space
Unit D - 18th Floor of the JMT Corporate Condominium
ADB Avenue, Ortigas Center Pasig City
Office Space
11/F San Miguel Properties Centre, 7 St. Francis Street,
Mandaluyong City
Parking Slots
B1- 22 & 23 of the JMT Corporate Condominium ADB
Avenue, Ortigas Center Pasig City
SMC SKYWAY CORPORATION (Formerly: CITRA METRO MANILA TOLLWAYS CORPORATION)
Office Space
21st to 24th Floors One Magnificent Mile-CITRA Building,
San Miguel Avenue, Ortigas Center 1605 Pasig City
Office Space
Office Space

14

15

SKYWAY O&M CORPORATION
Office Space

Land
16

AddressKm.44 Sitio Latian, Brgy. Mapagong, Calamba City,
LagunaMonthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Renewable upon mutual agreement in writingby the parties through their duly authorized
representatives
No renewal options
Renewable for another period of two (2) years
upon mutual agreement of the parties
Subject to renewal or extension upon
expiration at the option of the LESSEE and onsuch terms and conditions as may mutually
be agreed upon between the parties.

Good

JETHANDLER ASIA SERVICES, INC.
Office Space

Caticlan, Malay, Aklan

RentedGood

59,054.81

August 31, 2024

Lot Rental
Lot Rental

Caticlan, Malay, Aklan
Caticlan, Malay, Aklan

RentedRentedGoodGood45,439.49
92,842.11

July 12, 2025
July 12, 2024

PNP and OTS Office

Caticlan, Malay, Aklan

RentedGood

18,947.37

December 31, 2024

PNP-SOU Staffhouse

Caticlan, Malay, Aklan

RentedGood

8,421.05

December 31, 2023

Subject to renewal or extension upon
expiration at the option of the LESSEE and onsuch terms and conditions as may mutually
be agreed upon between the parties

Page 27

Company Name / Subsidiary

17

18
19

20

21

22

23

24

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

PNP-AVSEC Barracks

Caticlan, Malay, Aklan

RentedGood

12,631.58

December 31, 2024

Subject to renewal or extension upon
expiration at the option of the LESSEE and onsuch terms and conditions as may mutually
be agreed upon between the partiesOTS Staff House

Caticlan, Malay, Aklan

RentedGood

15,789.74

March 31, 2024

Subject to renewal or extension upon
expiration at the option of the LESSEE and onsuch terms and conditions as may mutually
be agreed upon between the parties

RentedGood35,087.72

February 7, 2026

No renewal options

Owned by ROP(South Luzon Tollway
Corporation
Concession Rights)

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned
Owned

Good
Good

RentedGood50,446.43

January 31, 2024

Subject to renewal or extension as mutuallyagreed between the parties

Owned by ROP(Star Infrastructure
Development
Corporation
Concession Rights)

Good

11/F San Miguel Properties Centre St. Francis Street,
Mandaluyong City

Owned

Good

40 San Miguel Avenue, Mandaluyong City
GF 808 Bldg, Meralco Avenue Cor Gen Lim Street, Brgy.
San Antonio, Pasig City
4F 808 Bldg, Meralco Avenue Cor Gen Lim Street, Brgy.
San Antonio, Pasig City
808 Bldg, Meralco Avenue Cor Gen Lim Street, Brgy.
San Antonio, Pasig City (Meeting Rooms G & H)

Owned
Owned

Good
Good

Owned

Good

Owned

Good

TABON Staffhouse
Caticlan, Malay, Aklan
MANILA TOLL EXPRESSWAY SYSTEMS, INC.
Office SpaceGF Operations and Control Center, Km.44 South Luzon
Expressway, Sitio Latian, Brgy. Mapagong, Calamba
City, Laguna
SMC INFRAVENTURES INC.
Office Space
40 San Miguel Avenue, Mandaluyong City
SMC SLEX INC. (Formerly: SOUTH LUZON TOLLWAYS CORPORATION)Land
Lot 3122-C, Sitio Latian, Brgy. Mapagong, Calamba,
LagunaOffice Space
11F San Miguel Properties Centre St. Francis Street,
Mandaluyong City
SMC SKYWAY STAGE 4 CORPORATION (Formerly: CITRA INTERCITY TOLLWAYS, INC.)
Office Space
Unit B 18th Floor of the JMT Corporate Condominium,
ADB Avenue, Ortigas Center, Pasig City
Office Space
11/F San Miguel Properties Centre, 7 St. Francis Street,
Mandaluyong City
Parking Space
B4- JMT Corporate Condominium, ADB Avenue, Ortigas
Center, Pasig City
Parking Space
B1-JMT Corporate Condominium, ADB Avenue, Ortigas
Center, Pasig CitySTAR INFRASTRUCTURE DEVELOPMENT CORPORATION
Land
Brgy. Lapu Lapu, Ibaan, Batangas
Office Space
23F JMT Corporate Condominium, ADB Ave., Ortigas
Center, Pasig City
SIDC Office
7th Floor Electra House Condominium, 115- 117
Esteban St., Legaspi Village, Makati CitySTAR TOLLWAY CORPORATION
Office Space
Brgy. Tambo, Lipa City, Batangas

ULCOM COMPANY, INC.
Office Space
SMC MASS RAIL TRANSIT 7, INC.
Office Space
Office Space
Office Space
Office Space

Page 28

Company Name / Subsidiary

Address

Rented / Owned

Condition

808 Bldg, Meralco Avenue Cor Gen Lim Street, Brgy.
San Antonio, Pasig City (Meeting Rooms I & J)
2F 808 Bldg, Meralco Avenue Cor Gen Lim Street, Brgy.
San Antonio, Pasig City
4th Floor Kayumanggi Center, Commonwealth cor.
Luzon Avenue, Quezon City

Owned

Good

Owned

Good

RentedGood

Dover Hill Condominium, Mabini Cor Ortega and Pilar St.,
Addition Hills, San Juan City

RentedGood

22nd Floor of OMM Citra Building, No 39 San Miguel
Avenue, Ortigas Center, Pasig City
Office Space
7th Floor 100 E Rodriguez Jr, Avenue (C-5 Road), Barrio
Ugong, Pasig City
Parking SpaceNo. 17B Gen. Atienza Street, San Antonio Village, Brgy
San Antonio, Pasig City
AEROFUEL STORAGE MANAGEMENT INC.
Office Space
11/F San Miguel Properties Centre St. Francis Street,
Mandaluyong City
ARGONBAY CONSTRUCTION COMPANY, INC.
Office Space
5th Floor, 808 Building, Meralco Avenue, Brgy Antonio
Pasig CityINTELLIGENT E- PROCESSES TECHNOLOGIES CORP.
23F San Miguel Properties Centre, 7 St. Francis Street,
Office Space
Ortigas Center, Mandaluyong City
Office SpaceKM 44 South Luzon, Brgy. Mapagong, Sitio Latian,Calamba, Laguna
LUZON CLEAN WATER DEVELOPMENT CORPORATION
Office SpaceBBW Administration Bldg. Don Manuel F. Reyes Ave. PH
1, Gate 1, Pleasant Hills Subd., Brgy. San Manuel City of
SJDM, Bulacan 3023
PASIG RIVER EXPRESSWAY CORPORATION
Office Space
40 San Miguel Avenue, Mandaluyong City
TPLEX OPERATIONS AND MAINTENANCE CORP
Office Space
Brgy. San Pascual Tarlac City
Office Space
Brgy Baculong, Victoria, Tarlac
Office Space
Brgy Palakipak, Rosales, Pangasinan
Office Space
Gerona, Tarlac
Office Space
Urdaneta, Pangasinan
Office Space
Rosario, La Union
SINCERE LUMBER CO., INC.
Office Space
11/F San Miguel Properties Centre St. Francis Street,
Mandaluyong City
Land
1500 Quirino Ave., Paco, Manila City, Metro Manila
SAN MIGUEL AEROCITY INC
Office Space
Lower Penthouse, 808 Building, Meralco Avenue, Brgy
Antonio Pasig City
Office Space
5th Floor, 808 Building, Meralco Avenue, Brgy Antonio
Pasig City
Office Space
3rd Floor, 808 Building, Meralco Avenue, Brgy Antonio
Pasig City
Parking Space
Gen. Capinpin St./Parking Space Brgy San Antonio,
Pasig City

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good
Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Office Space
Office Space
Office Space

Condo Unit

Office Space

25

26

27

28

29
30

31

32

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

216,150.00

November 30, 2025

118,250.00

February 11, 2025

Renewal and extension upon expiration ofcontract may be mutually agreed upon
between parties.
The Parties may agree in writing to renew andextend the lease period within 90 days fromexpiration of the lease period

Page 29Company Name / Subsidiary

Address

Rented / Owned

Condition

Expiry of Lease Contract

Terms of Renewal / Options

Owned

Good

Owned

Good

Condominium Unit
Staff House

Ground Floor, 100 E. Rodriguez Jr. Avenue (C-5 Road),
Barrio Ugong, Pasig City, Metro Manila
3rd Floor, 100 E. Rodriguez Jr. Avenue (C-5 Road),
Barrio Ugong, Pasig City, Metro Manila
Delgado Place Residences
Brgy. San Nicholas Bulacan

RentedRentedGood
Good

24,107.14
30,000.00

August 2024
January 15, 2027

Annual Renewal
The Parties may agree in writing to renew andextend the lease period within 90 days fromexpiration of the lease agreement.

Parking Space
Office Space

21 Gen Atienza St., Brgy San Antonio Pasig City
14th Flr, 45 San Miguel Bldg.

Owned
RentedGoodGood

467,600.00

June 30, 2026

The Parties may agree in writing to renew andextend the lease period within 90 days fromexpiration of the lease agreement.

Parking Space

45 San Miguel Bldg.

RentedGood38,500.00

June 30, 2026

The Parties may agree in writing to renew andextend the lease period within 90 days fromexpiration of the lease agreement.

Staff House
Brgy. San Antonio, Pasig City
RentedStaff House
Cavite Staff House
RentedCondominium Unit
U707, East Tower Lumiere Residences
RentedSMC Central Access Link Expressway Corp.
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
Owned
City
SMC Marilao Access Link Expressway Corp.
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
Owned
City
SMC Northern Access Link Expressway Corp.
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
Owned
City
SMC Southern Access Link Expressway Corp.
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
Owned
City
SOUTH LUZON TOLL ROAD-5 EXPRESSWAY INC
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
Owned
City
SMC TOLLWAYS CORPORATION (Formerly: ATLANTIC AURUM INVESTMENTS PHILIPPINES CORPORATION)
Office Space
11F San Miguel Properties Centre, 7 St. Francis St.,
Owned
Ortigas Center, Mandaluyong City
SMC SLEX Holdings, Inc. (Formerly: MTD MANILA EXPRESSWAYS, INC.)
Office Space
11F San Miguel Properties Centre St. Francis Street,
Owned
Mandaluyong CityASSETVALUES HOLDING COMPANY INC
Office Space
11F and 20/F San Miguel Properties Centre St. Francis
Owned
Street, Mandaluyong City
SMC AEROTROPOLIS INC
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
Owned
City
PHILIPPINE INTERNATIONAL AIRPORT INC.
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
Owned
City
SMC AVIATION CITY INC.
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
Owned
City

Good
Good
Good

12,500.00
7,000.00
40,000.00

September 15, 2024
July 15, 2024
March 29, 2024

Parking Space
Office Space

33

34

35

36

37

38

39

40

41

42

43

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Annual Renewal
Annual Renewal
Annual Renewal

Good

Good

Good

Good

Good

Good

Good

Good

Good

Good

Good

Page 30

Company Name / Subsidiary

44

45

46

47

48

49

Address

TOLL ROAD OPERATION AND MAINTENANCE VENTURE CORPORATION
Office Space
11/F San Miguel Properties Centre, #7 St. Francis Street,
Ortigas Center, Mandaluyong City
SMC CBEX INC
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
City
SMC NBEX INC
Office Space
40 San Miguel Avenue, Bgry. Wack-Wack Mandaluyong
City
AEROCITY CEMENT INC.
Office Space
11/F San Miguel Properties Centre, #7 St. Francis Street,
Ortigas Center, Mandaluyong City
DURACEMENT INC.
Office Space
11/F San Miguel Properties Centre, #7 St. Francis Street,
Ortigas Center, Mandaluyong City
SMC PLEX INC.
Office Space
40 San Miguel Avenue, Mandaluyong City

Rented / Owned

Condition

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Page 31Company Name / Subsidiary

Address

Rented / Owned

Condition

Sta.Filomena, Iligan City
A. Del Rosario Ave., Brgy. Tipolo, Mandaue City
Banilad, Mandaue - Petron Station
Alfonso, Cavite - Management Training Center
Meralco Ave., Pasig City - 808 Building
Northbay Blvd., Navotas, Metro Manila
San Fernando, Pampanga
40 San Miguel Ave., Mandaluyong City - SMC Corporate
OfficeSan Rafael, Tarlac
Tagaytay - Petron Station
Tunasan - Petron Station
Looc Ouano, Mandaue City
SMC Complex, Quebiawan, San Fernando, Pampanga

Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good
Good
Good
Good

Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good

Brgy. San Francisco, Gen. Trias, Cavite
Brgy. San Francisco, Gen. Trias, Cavite
Brgy. San Francisco, Gen. Trias, Cavite
San Miguel Properties Centre, Mandaluyong City
155 Edsa (SMITS), Ortigas Center, Mandaluyong City
620 Lee St., Mandaluyong CitySan Isidro Road corner Unnamed Road Lot, Brgy.
Tatalon, Cabuyao, Laguna
808 Bldg. Meralco Avenue corner General Lim St., Brgy.
San Antonio, Pasig City
Along Commerce Avenue Corner Asean Drive andJakarta Lane, Filinvest Corporate City, Brgy. Alabang,
Muntinlupa City
Brgy. Canlubang and Majada, Calamba City, Laguna
Barrio de Fuego, Gen. Trias, Cavite
Barrio Sinaliw Munti, Alfonso, Cavite
Brgys. of Mabatac, Sinaliw and Kaytitinga, Sitios ofAmuyong and Haulian, Alfonso, Cavite
Brgys. Lourdes and Santiago, Lubao, Pampanga
Cagay Road, Brgy. Asid, Masbate City
Brgy. Tagabuli, Sta. Cruz, Davao del Sur
Sitio Landing, Brgy. Darong, Sta. Cruz, Davao del Sur
Brgy. Bato, Sta. Cruz, Davao del Sur
Brgy. Yapak, Boracay Island, Malay, Aklan
327 Brgy. Prenza-San Fermin, Cauayan City, Isabela
471 F. Ortigas St., Brgy. Hagdang Bato Libis,
Mandaluyong City
San Miguel Corporation - Head Office Complex, No. 40
San Miguel Avenue, Mandaluyong City
Dr. A Santos Ave. (Sucat Road), Parañaque City
Brgy. Boot, Tanuan, Batangas
Brgy. Glamang (Silway), Polomolok, South Cotabato
Maragondon / Mabacao - Magallanes Road, Brgy.
Mabato, Maragondon, Cavite
Acacia St., Brgy. Hagdang Bato, Mandaluyong City

Owned
Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good
Good
Good

Owned

Good

Owned

Good

Owned
Owned
Owned
Owned

Good
Good
Good
Good

Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good
Good
Good
Good

Owned

Good

Owned
Owned
Owned
Owned

Good
Good
Good
Good

Owned

Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

OTHERS
1

2

SAN MIGUEL CORPORATION
Iligan Coconut Oil MillLand and Warehouse
Land
Land
Office Space
Warehouse Only
Land
Office Space
Land
Land
Land
Land
Warehouse Only
REAL ESTATE BUSINESSSan Miguel Properties, Inc.
Bel Aldea Subdivision
Maravilla Subdivision
Asian Leaf Subdivision
Office Spaces
Office Building
Land
Land
Land and Building
Land

Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land/Building/Improvements
Land and Building
Land
Land
Land
Land

Page 32

Company Name / Subsidiary

Land
Land
Land and Building
Land
Land
Land
Land and Building
Land and Building
Land
Land and Building
Land and Building
Land
Land and Building
Land
Bel-Aldea Realty, Inc.
Land and Building
Bright Ventures Realty, Inc.
Land
Land / Dover Hill

Address

Rented / Owned

Condition

Sixto Avenue, Maybunga, Pasig City
National Road, Brgy. Bunawan, Davao City
Crestview Heights Subd., San Roque, Antipolo, Rizal
618 Lee St. Brgy. Addition Hills, Mandaluyong City
Brgy. Bucal Calamba, Laguna
Brgy. Tawala, Panglao, Bohol
635 Lee St. Addition Hills Mandaluyong City
Brgy. Sasa, Davao City
Brgy. De Fuego, Brgy. San Francisco General Trias,
Lot1-D Brgy. Parian, Calamba City, Laguna
SJCB Sta. Maria Bulacan- Lots 2&4
Bowen Island -Bugsuk, Balabac, Palawan
Brgy. Nibaliw West, San Fabian, Pangasinan
Naic, Cavite

Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good

No. 77 IPO St., Brgy. Paang Bundok, La Loma, Quezon
City

Owned

Good

A. Marcos cor M.H. del Pilar and A. Mabini Sts., Addition
Hills, San Juan City
No. 168 Pilar Corner P. Zamora Sts., Brgy. Addition Hills,
San Juan City

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Brillar Realty and Development Corp.
Land
Limbones Island, Brgy. Papaya, Nasugbu, Batangas
Dimanyan Wakes Holdings, Inc.
Land
Bo. Bulalacao, Bulalacao Island, Coron, Palawan
Busuanga Bay Holdings Inc.
Land
Bo. Bulalacao, Bulalacao Island, Coron, Palawan
Bulalacao Property Holdings, Inc.
Land
Bo. Bulalacao, Bulalacao Island, Coron, Palawan
Calamian Prime Holdings, Inc.
Land
Bo. Bulalacao, Bulalacao Island, Coron, Palawan
Palawan White Sands Holdings Corp.
Land
Bo. Bulalacao, Bulalacao Island, Coron, Palawan
Coron Islands Holdings, Inc.
Land
Bo. Bulalacao, Bulalacao Island, Coron, Palawan
Rapidshare Realty and Development Corporation
Land
341 Northwestern St., Brgy. Wack-Wack, Greenhills,
Mandaluyong City
SMC Originals, Inc.
Land
Antonio Arnaiz Avenue corner Estacion St., Brgy. Pio delPilar, Makati City
Silang Resources, Inc.
Land
Brgys. San Vicente, San Miguel, Biluso And Lucsuhin,
Silang, Cavite
Tanauan Resources, Inc.
Land
No. 34 McKinley Road, Brgy. Forbes Park (North Side),
Makati CitySMPI Makati Flagship Realty Corp.
Land and Building
117 Legaspi and Gallardo Sts., Legaspi Village, Makati
City
Carnell Realty, Inc.
Land
621 Lee St., Mandaluyong City

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Page 33

Company Name / Subsidiary

Grandioso Realty Corporation
Land
Sta. Cruz Resource Management, Inc.
Land and Building
Maison 17 Properties, Inc.
Land
Integrated Geosolutions, Inc.
Land
Tierra Castellanas Development Inc.
Land
Excel Unified Land Resources Corp.
Wedge Woods Subdivision
512 Acacia Holdings, Inc.
Land
La Belle Plume Realty IncLand
La Verduras Realty Corp.
Land
First Monte Sierra Realty Corporation
Land
Lanes and Bi-Ways Realty Corp.
Land
Land
Premiata Realty, Inc.
Land
Picanto de Alta Realty Corp.
Land
Kingsborough Realty, Inc.
Land
E- Fare Investment Holdings Inc.
Land
Zobel Polo Club Inc.
Land
Rapidshare Realty and Development
Corporation
Land
Land Improvements
Apice Solare Resources Corp.
Land
Roca Pesada Realty Corp.
Land
Uno Clarity Investment Holdings Inc.
Land and Building
Zee2 Resources Inc.
Land

Address

Rented / Owned

Condition

National Road, Brgy. Tambler, General Santos City

Owned

Good

54 and 50 Hydra St., Bel Air 3, Makati City

Owned

Good

116 Legaspi and Gallardo Sts., Legaspi Village, Makati
City

Owned

Good

Bo.Diezmo, Cabuyao, Laguna

Owned

Good

Brgy. Bungoy, Dolores, Quezon

Owned

Good

Silang, Cavite

Owned

Good

512 Acacia Ave., Ayala Alabang Village Phase II-A, Brgy.
Alabang, Muntinlupa City

Owned

Good

Western Visayas

Owned

Good

No. 38 Gen. Delgado Street, San Antonio Village, Pasig
City

Owned

Good

Brgy. San Antonio, Basco, Batanes

Owned

Good

403 Columbia St., East Greenhills, Mandaluyong City
#2 Columbia St. N.East Greenhills, San Juan

Owned
Owned

Good
Good

52 Mercedes cor 61 Aries, Bel Air 3, Makati City

Owned

Good

1331 J.P. Laurel St. Brgy. 643 Zone 066, San Miguel
District, Manila

Owned

Good

37 Gen. Delgado St., San Antonio Village, Pasig City

Owned

Good

Mariveles, Bataan

Owned

Good

Lipa, Batangas

Owned

Good

Northwestern Street, Barangay Wack-Wack Greenhills,
Mandaluyong City
Ortigas Street, Barangay Wack-Wack, Greenhills,
Mandaluyong City

Owned

Good

Owned

Good

National Road, Barangay Igmaya-an, District 1, Don
Salvador Benedicto, Negros Occidental

Owned

Good

118 Esteban Abada St. Varsity Hills, Quezon City

Owned

Good

Buruanga, Aklan

Owned

Good

82 Cambridge Circle, North Forbes Park, Makati City

Owned

Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Page 34

Company Name / Subsidiary34Address

Quicksilver Development Corp.
Land
50 McKinley Road North Forbes Park Makati CityMax Harvest Holdings Inc.
Land
Brgy. Anyatam San Ildefonso Bulacan
High Garden Land Resources Inc.
Land
82 EDSA Brgy Wack-Wack, Mandaluyong City
One Wilson Cayenne Holdings, Inc.
Land
708-A & B J.R Yulo St. Mandaluyong City
Land
6-C East St. Addition Hills Mandaluyong City
Auburnrite Holdings Inc.
Land
Bungahan, Biñan, LagunaLand
Mamplasan, Biñan, Laguna
Bricktree Properties Inc.
Land
Bancalaan, Palawan
Agricultural Investors, IncLand
Bugsuk, Palawan
Unexplored Land Developers, IncLand
Bugsuk Palawan
Ocean-side Maritime Enterprises, IncLand
Bugsuk Palawan
Labayug Air Terminals Incorporated
Land
Bugsuk Palawan
Pura Electric Co. IncLand
Bugsuk Palawan
Punong Bayang Housing Development
Corporation
Land
Bugsuk Palawan
Habagat Realty Development
Incorporated
Land
Bugsuk Palawan
Spade One Resorts Corporation
Land
Bugsuk Palawan
Ondarre Holdings Corp.
Land
Mandaluyong City
Soracil Prime Inc.
Land
Mandaluyong City
PACIFIC CENTRAL PROPERTIES, INC.
Land
Limay, Combined Power Plant, Limay, Bataan
Land
Dauin, Negros Oriental
Land
Outlook Drive, Baguio City
SMC SHIPPING AND LIGHTERAGE CORPORATION AND SUBSIDIARIESSMC Shipping and Lighterage Corporation
Land
Maribojoc-Cortes National Road Junction, Barrio
Salvador, Cortes, Bohol
Land and Building
Dr. A. Santos Avenue corner Unnamed Road, Brgy. San
Antonio, Parañaque City
Land
Mariveles Bataan Lot #1 and #2, Barrio of Lucanin,
Mariveles, Bataan
Land
Mariveles Bataan Lot #3, Barrio of Agnipa andCabcaben, Mariveles, Bataan
Land
National Road, Brgy. San Pedro, Bauan and Brgy. San
Juan, Mabini, Batangas

Rented / Owned

Condition

Owned

Good

Owned

Good

Owned

Good

Owned
Owned

Good
Good

Owned
Owned

Good
Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned
Owned
Owned

Good
Good
Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Page 35

Company Name / Subsidiary

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
SMCSL can exercise an option to purchasethe reclaimed lot during the life of the lease
period should the municipality decide to sell
the property
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties

Building (Admin Buildings, Warehouses D, Ouano Wharf, Looc, Manduae CityC, R, S, I, N, Q, L, M, Terminals, Parking
Shed, Loading Bay)
Building (KCSLI)
Dad Cleland Avenue, Looc, Lapu Lapu City
Land and Building
Brgy. Loboc, Lapaz, IloIlo
Land
Mariveles, Bataan

Owned

Good

Owned
Owned
Rented

Good
Good
Good

2,870,392.20

September 30, 2030

Land

RentedGood

5,052,978.00

January 02, 2037

Land

Yard 2, Engineering Island, Baseco Compound, Port
Area, Manila City
Block 22 Manila Harbor Center, Tondo, Manila City

RentedGood

1,976,616.63

July 14, 2024

Land

San Pedro, Bauan, Batangas

RentedGood

477,543.60

December 06, 2042

Land

Brgy. Tubod, Municipality of Sto. Tomas, La Union

RentedGood

200,000.00

August 31, 2027

Land

Puting Buhangin hi-way, Orion (TCT #s 226614,
2015000040, 2015000041)
Bo. of Gua-an, Municipality of Leganes, Province of Iloilo

RentedGood263,538.00

June 30, 2034

Owned

Good

Owned
Owned
Owned
Owned

Good
Good
Good
Good

Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Rented

Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good

2,028,600.00

December 31, 2023

RentedGood423,998.21

December 31, 2023

Land

Land
Ouano Wharf, Looc, Manduae City
Land
Road Lot 3 Brgy. 128 Zone 010, Tondo, Manila
LandSanta Elena, Orion, Bataan
Land, Land Improvement (e.g. Pier),
Namonitan, Santo Tomas, La Union
Building, and Machineries
Warehouse
Limay, Bataan
Coal Warehouse
Namonitan, Santo Tomas, La Union
Land
Baluarte,Tagoloan Misamis OrientalLand
Lot 1118&1119Puting Buhangin Orion Bataan
Warehouse
Mactan, Cebu
Warehouse
Loboc, Iloilo
Warehouse
Tagoloan, Misamis Oriental
Pier
IloiloPier
Mandaue, Cebu
Warehouse
Mabini, Bauan, Batangas
Blk 12 (Lot 1) and Blk 14 (Lot 1-15)
Harbor, Manila
Warehouses (14 warehouses) 14,700sqm Zone 3, Upper Agusan, Cagayan de Oro City
in total
Warehouses (1,5,9A & 8A,10)
Brgy. Masaya, Rosario Batangas
Warehouse (3&5)

Bicol Oil Mill Cmpd. Balogo, Pasacao, Camarines Sur

RentedGood337,500.00

December 31, 2023

Warehouse rental for Feedmill Plant
Warehouse rental for Feedmill Plant
Warehouse (A, B, D1, D2)

CDO
IloiloCasisang, Malaybalay City, Bukidnon

Owned
Owned
Rented

Good
Good
Good

390,000.00

December 31, 2023

Foreshore Area

Looc, Lapu Lapu City

RentedGood

10,835.33

October 02, 2024

Foreshore Area

Looc, Lapu Lapu City

RentedGood

1,398.79

October 04, 2024

Foreshore Area

Looc, Lapu Lapu City

RentedGood

27,994.66

January 24, 2024

Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties

Renewable upon mutual agreement of theparties
Renewable after one (1) year or upon mutual
agreement of the parties
Renewable after one (1) year or upon mutual
agreement of the parties
Renewable after one (1) year or upon mutual
agreement of the parties

Page 36Company Name / Subsidiary

Address

Rented / Owned

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Renewable after one (1) year or upon mutual
agreement of the parties
Renewable after one (1) year or upon mutual
agreement of the parties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties

Foreshore Area

Looc, Lapu Lapu City

RentedGood

1,763.17

October 04, 2024

Foreshore Area

Looc, Lapu Lapu City

RentedGood5,246.54

February 15, 2024

Warehouse

218 Don Jose Canciller Avenue, Cauayan City

RentedGood64,260.00

July 15, 2024

Warehouse

Leganes, Iloilo (2A, 3A, 5A & 6A)

RentedGood2,106,046.06

December 31, 2023

Warehouse (GMC3)

Taboc, Brgy. San Jose, Pili Cam Sur

RentedGood

202,500.00

December 31, 2023

Warehouse (GMC1&2)

San Jose, Pili, Camarines surRentedGood

308,142.86

December 31, 2023

Office space

RentedGood

10,000.00

June 30, 2024

Warehouse 1&2, office space

Namayan Compound, No. 979 Castaneda St., Brgy
Namayan, Mandaluyong
Pangao, Ibaan, Batangas

RentedGood

223,214.29

December 31, 2023

Warehouse 1&2 (Cosay)

National Highway, Santiago, Pili, Camarines Sur

RentedGood

221,785.72

December 31, 2023

Warehouse (A3,A7,B2,B3,B4,B6,B9)

PRK5 Bario Mahayag, Bunawan, Davao

RentedGood784,530.00

December 31, 2023

Warehouse 21

Sitio Pantay, Baranggay Maguyam, Silang, Cavite

RentedGood

157,615.00

June 04, 2024

Warehouse 23

Sitio Pantay, Baranggay Maguyam, Silang, Cavite

RentedGood

159,861.61

June 04, 2024

Warehouse 5-7

Sitio Pantay, Baranggay Maguyam, Silang, Cavite

RentedGood534,063.75

June 04, 2024

Warehouse 8

Sitio Pantay, Baranggay Maguyam, Silang, Cavite

RentedGood

178,021.25

June 04, 2024

Warehouse 12

Sitio Pantay, Baranggay Maguyam, Silang, Cavite

RentedGood

252,466.50

July 08, 2024

Warehouse 22

Sitio Pantay, Baranggay Maguyam, Silang, Cavite

RentedGood

158,767.00

June 04, 2024

Bldg 2 Doors 5-7

PLDC Diversion Road, Naga City, Camarines Sur

RentedGood

321,428.57

December 31, 2023

Warehouse 1-3

Sitio Tawagan, Tayud, Consolacion, Cebu

RentedGood

480,000.00

December 31, 2023

Warehouse PKS-F

Sitio Tawagan, Tayud, Consolacion, Cebu

RentedGood

209,760.00

December 31, 2023

Warehouse 1&2

Tabok, Mandaue City, Cebu

RentedGood396,480.00

December 31, 2023

Warehouse 3

Sta. Elena, Orion Bataan

RentedGood

1,555,200.00

December 31, 2023

Condo

15J Pearl of the Orient Ermita, Manila

RentedGood

17,600.00

May 19, 2024

Condo

33J Pearl of the Orient Ermita, Manila

RentedGood

18,000.00

April 07, 2024

Condo3615 Admiral Baysuites, Malate, Manila

RentedGood

24,000.00

October 02, 2024

Condo

709 Burgundy Place Condominium, Loyola Heights, QC

RentedGood23,825.44

July 31, 2024

Condo

Unit 2201 Grand Riviera Suites Roxas Boulevard, Corner
Padre Faura St., Ermita, Manila
Parang, Batangas

RentedGood

25,000.00

June 15, 2024

RentedGood618,000.00

December 31, 2023

Warehouse (B1-B3)

Page 37

Company Name / Subsidiary

Address

Rented / Owned

Condition

RentedGood

21,804.69

September 01, 2024

Renewable upon mutual agreement of theparties

RentedGood

21,804.69

May 01, 2024

Renewable upon mutual agreement of theparties

RentedGood

46,284.33

March 01, 2024

Renewable upon mutual agreement of theparties

RentedGood346,741.76

February 15, 2024

Renewable upon mutual agreement of theparties

RentedGood346,741.76

January 17, 2024

Renewable upon mutual agreement of theparties

Staffhouse

2nd Floor, Unit G, BIk 9 Lot 4-6 Manila Harbour Center,
Fernando St. Cor. Francisco St. Zone 10 Barangay 128,
Tondo Manila
2nd Floor, Unit G, BIk 9 Lot 4-6 Manila Harbour Center,
Fernando St. Cor. Francisco St. Zone 10 Barangay 128,
Tondo Manila
5th Floor, Unit B, BIk 9 Lot 4-6 Manila Harbour Center,
Fernando St. Cor. Francisco St. Zone 10 Barangay 128,
Tondo Manila
3rd Floor, BIk 9 Lot 4-6 Manila Harbour Center,
Fernando St. Cor. Francisco St. Zone 10 Barangay 128,
Tondo Manila
4th Floor, BIk 9 Lot 4-6 Manila Harbour Center, Fernando
St. Cor. Francisco St. Zone 10 Barangay 128, Tondo
ManilaPoblacion Norte, Sta. Barbara, Pangasinan

RentedGood

8,000.00

April 14, 2024

Staffhouse

Zone 7, Brgy. Agusan, Cagayan De Oro

RentedGood

8,000.00

June 30, 2024

Staffhouse

Maharlika Hi-way, Brgy. Paulog, Ligao City, Albay

RentedGood

5,800.00

August 19, 2024

Condo

Bldg 3. Unit 1443, Brgy. 99 and 101 Vitas and Velasquez
St. Tondo, Manila
Bldg 1. Unit 1207, Brgy. 99 and 101 Vitas and Velasquez
St. Tondo, Manila
Unit 2, No. 681, Beaterio Street corner Magallanes
Street, Intramuros, Manila
Unit 51-A North Tower, One Shangri-La Place

RentedGood

17,000.00

July 15, 2024

RentedGood

17,000.00

July 15, 2024

RentedGood

25,000.00

June 15, 2024

RentedGood

160,000.00

December 27, 2024

RentedGood

17,000.00

April 30, 2024

RentedGood

17,000.00

March 31, 2024

Warehouse (Elim)

Bldg 5. Unit 1415, Brgy. 99 and 101 Vitas and Velasquez
St. Tondo, Manila
Bldg 10. Unit 233, Brgy. 99 and 101 Vitas and Velasquez
St. Tondo, Manila
Lam-An, Ozamis City, Misamis Occidental

RentedGood

37,500.00

December 31, 2023

Staffhouse

23 Tubod West, Sto. Tomas, La Union

RentedGood

10,000.00

December 31, 2023

Condo

RentedGood

15,000.00

March 15, 2024

RentedGood

17,000.00

May 31, 2024

Warehouse (2,3,4,7,8,9,12)

4F-414, Brgy. 99 and 101 Vitas and Velasquez St.
Tondo, Manila
Bldg 10. Unit 1056, Brgy. 99 and 101 Vitas andVelasquez St. Tondo, Manila
MCT Complex, Tagoloan, Misamis Oriental

RentedGood

1,636,600.00

December 31, 2023

Warehouse Rich A7, B2, B3, B4, B6,B9

PRK 5, Barrio, Mahayag, Bunawan, Davao City

RentedGood

683,330.00

December 31, 2023

Warehouse

Door 2-3, Bay 6, Everland Agricorp, Sasa, Davao

RentedGood

251,183.00

December 31, 2023

Warehouse 1 (1-4) & 2

Brgy. Mahabang, Parang, Batangas City

RentedGood

1,023,000.00

December 31, 2023

Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties

Owned

Good

RentedGood730,747.07

December 31, 2023

Office Space

Office Space

Office Space

Office Space

Office Space

Condo
Condo
Condo
Condo
Condo

Condo

SMC Shipping and Lighterage Corporation and SL Mariveles Drydocking and Shipyard Corporation
Building (Warehouses, Admin Building,
Luzon Avenue, Baseco Compound, Mariveles, Bataan
Slipway, Seawall, Guardhouse)
Land
Baseco Compound Luzon Avenue Mariveles, Bataan

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Renewable upon mutual agreement of theparties

Page 38

Company Name / Subsidiary

Address

SMC Shipping and Lighterage Corporation and Baseco Shipyard Corporation
Building (Warehouses, Admin Building,
Yard 2, Engineering Island, Baseco Compound, Port
Improvements, Container Yard, Access
Area, Manila City
Roads, Guardhouse, Truckscale,
Equipments)
Land
Yard 2, Engineering Island, Baseco Compound, Port
Area Manila
SL Harbour Bulk Terminal CorporationLand
Blk14 Lots 1-4 Manila Harbour Centre, Brgy. 128, Zone
10, Tondo District, Manila CityLand
Blk15 Lots 8-9 Brgy. 128 Zone 010, Tondo, Manila
Land
Blk4 Lot 10-11 Road Lot 3, Brgy. 128 Zone 010, Tondo,
ManilaLand
Manila Harbour Center Lot 3 fronting Blk 14 (BERTHING
5)
Land
Manila Harbour Center Lot 3 fronting Blk 15 (BERTHING
4)
Land
Blk17 Lot 4 Manila Harbour Centre, Vitas, Tondo, Manila
City
Foreshore and Offshore Areas
Gracia, Tagoloan, Misamis Oriental (41,682 sqm)

Rented / Owned

Condition

Owned

Good

Rented

Good

Owned

Good

Owned
Owned

Good
Good

RentedMonthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

2,523,293.73

December 31, 2023

Good

501,886.21

April 29, 2024

RentedGood

380,077.59

RentedGood431,323.88

RentedGood

27,145.23

Foreshore and Offshore Areas

Gracia, Tagoloan, Misamis Oriental (50,152 sqm)

RentedGood

251,233.01

Foreshore and Offshore Areas, and Port
Facility
Building (Admin Buildings, Terminals,
Parking Shed, Loading Bay, Mini
Laboratory, Storage Areas)
Land Improvements (Walkways,
Driveway, Ground Improvements, Access
Roads, Catwalks, Perimeter Fence, Etc.)

Gracia, Tagoloan, Misamis Oriental (121,396 sqm)

RentedGood292,518.93

Manila Harbour Centre, Brgy. 128, Zone 10, Tondo,
Manila City

Owned

Good

Manila Harbour Centre, Brgy. 128, Zone 10, Tondo,
Manila City

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Renewable upon mutual agreement of theparties

Renewable upon mutual agreement of theparties
April 29, 2024
Renewable upon mutual agreement of thepartiesContinuing unless terminated Renewable upon mutual agreement of theand agreed by both parties parties
March 07, 2029
May be renewed for 25 years upon terms andconditions mutually agreed upon by thepartiesMarch 07, 2029
May be renewed for 25 years upon terms andconditions mutually agreed upon by thepartiesContinuing unless terminated Renewable upon mutual agreement of theand agreed by both parties parties

Buildings (Admin Building, Bulk Office,
Limay, Bataan
Mini Laboratory, etc.)
Buildings (Admin Building, Mini Laboratory, Tagoloan, Misamis Oriental
etc.)
Land
Blk12 Rd 10 Cor Rd 21 New Harbour Center, Brgy. 128
Zone 010, Tondo, ManilaLand
Blk14 Lot 5 Rd Lot 3 Cor Rd Lot 9 New Harbour Center,
Brgy. 128 Zone 010, Tondo, Manila
Land
Barrio Kitang, Limay, Bataan (228,616 sqm)

Owned

Good

RentedGood532,559.05

December 31, 2023

Land

RentedGood

3,013,776.95

January 26, 2024

Owned

Good

Owned

Good

Block 15, Lots 1-7, Manila Harbour Centre, Tondo,
ManilaLeasehold Improvements (Driveway, Pier, Limay, Bataan
Perimeter Fence, etc.)
Leasehold Improvements (Driveway, Pier, Tagoloan, Misamis Oriental
Perimeter Fence, etc.)

Terms of Renewal / Options

Renewable on a year to year basis for as longas the original lease agreement is in effectand under such terms and conditions basedon the mutal consent and agreement of bothparties
Renewable upon mutual agreement of theparties

Page 39Company Name / Subsidiary

Address

Rented / Owned

Condition

Bataan Combined Cycle Power Plant, Barangay Luz,
Kitang 2, Limay, Bataan
Machinery and Equipment (Fuel Tanks,
Manila Harbour Centre, Brgy. 128, Zone 10, Tondo,
Water Tanks, Tank Truck Loading Racks, Manila City
etc.
Machinery and Equipment (Fuel Tanks,
Limay, Bataan
Water Tanks, Tank Truck Loading Racks,etc.
Machinery and Equipment (Fuel Tanks,
Tagoloan, Misamis Oriental
Water Tanks, Tank Truck Loading Racks,
etc.
Land
386,755 sqm land in Manila Harbour Center

Rented

Good

Owned

Good

Owned

Good

Owned

Good

RentedGood

Land

The lease agreement pertains to lease of land in Manila
Harbor Blk 4 lot 10 and 11.
Road Lot 3 fronting lot 10 and 11 of block 4, Manila
Harbour Centre, Tondo, Manila City

RentedGood

RentedGood

Road Lot 19 (New Harbor Center) Brgy. 128 Zone 010,
Tondo, Manila
Lucanin, Mariveles, Bataan
Mabini, Batangas
Lot 10181, CAD-584, C-24 San Pedro, Bauan Cadastre

Owned

Good

Owned
Owned
Owned

Good
Good
Good

Lot 10184-A, of the sub. Plan, Psd-04-148187 being a
portion of Lot - 10184 Cad 584, Bauan Cadastre
Lot 14038-B of the sub. Plan Psd-04-195256 being
portion of Lot 14038 Cad 584, Bauan Cad., LRC Rec.
No.
Lot 10156 Cad-584 San Pedro, Bauan, Batangas TCT
05-0034-00532
Various land in Bauan, Batangas
Mabini and Bauan, Batangas

Owned

Good

Owned

Good

Owned

Good

Owned
Owned

Good
Good

Owned

Good

Owned
Owned

Good
Good

Machinery and Equipment (Fuel Tanks)

Land
MG8 Terminal Inc.
Land
Land
Land
Land
Land
Land

Land

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

4,969,228.61

December 31, 2023

187,709.75

April 30, 2024

Renewable upon mutual agreement of theparties

Renewable upon mutual agreement of theparties
1,072,000.00 Continuing unless terminated Renewable upon mutual agreement of theand agreed by both parties parties
380,077.59
May 14, 2024
Renewable upon mutual agreement of theparties

Land and pier and port facilities
Warehouse 1, 2, 3 and 4
SMC Shipyard Cebu Land Inc.
Land and Building
Dad Cleland Ave., Looc, Lapu Lapu City
La Union Shipyard and Marine Service Corporation
Buildings
Tubod Sto. Tomas La Union
Leasehold Improvemens/Shipyard
Tubod Sto. Tomas La Union
LS Shipping Management Corporation
Landrights and improvements
Barangay San Miguel, Municipality of Bauan, Province of
Batangas.
Elite Marine Construction Corporation
Land
Barangay Putting Buhangin, Orion, Bataan

Owned

Good

RentedGood

30,000.00

December 31, 2024

Land

Lot 1071, Barangay Putting Buhangin, Orion, Bataan

RentedGood44,555.00

September 01, 2024

Condo

125 Bernadette Street, 8th Avenue, Grace Park,
Caloocan City
5th floor, Unit A Kynsna Bldg, Blk 9 Lot 4-6 Manila
Harbour Centre Fernando St Cor. Francisco Siero
St Barangay 128 Zone 10 Dist 1 1012 Tondo I / II NCR,City of Manila, First District Philippines

RentedGood

15,789.47

August 07, 2024

RentedGood

44,150.99

February 01, 2024

Office space

Terms of Renewal / Options

Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties

Page 40

Company Name / Subsidiary

7
8

9

10

Condition

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

Brgy. Upper, Bian, Mariveles, Bataan

RentedGood

10,526.32

January 21, 2025

Office space

5th floor, Unit J Kynsna Bldg, Blk 9 Lot 4-6 Manila
Harbour Centre Fernando St Cor. Francisco Siero
St Barangay 128 Zone 10 Dist 1 1012 Tondo I / II NCR,City of Manila, First District Philippines
3rd floor, Kynsna Bldg, Blk 9 Lot 4-6 Manila Harbour
Centre Fernando St Cor. Francisco Siero St Barangay
128 Zone 10 Dist 1 1012 Tondo I / II NCR, City of Manila,
First District Philippines

RentedGood

30,660.53

April 01, 2024

RentedGood

89,285.71

April 30, 2024

Renewable upon mutual agreement of theparties

PPA BY PASS Road, Barangay Loboc, La Paz, City of llollo
Barangay Loboc, La Paz, City of llo-llo
Barangay Loboc, La Paz, City of llo-llo
Barangay Loboc, La Paz, City of llo-llo

Owned

Good

Owned
Owned
Owned

Good
Good
Good

Owned
Owned
Owned

Good
Good
Good

Owned

Good

Owned

Good

Owned

Good

Owned
Owned
Owned

Good
Good
Good

Owned
Owned
Owned

Good
Good
Good

RentedGood459,559.43

March 31, 2024

RentedGood59,400.00

January 31, 2024

Renewable upon mutual agreement of theparties
New contract upon expiration of the previous

RentedGood

11,080.34

March 28, 2024

New contract upon expiration of the previous

RentedGood

29,439.25

July 31, 2024

New contract upon expiration of the previous

RentedGood

7,500.00

February 14, 2024

New contract upon expiration of the previous

RentedRentedGood
Good

13,500.00
10,000.00

November 30, 2024
October 15, 2024

New contract upon expiration of the previous
New contract upon expiration of the previous

RentedGood

7,476.64

June 12, 2024

New contract upon expiration of the previous

Owned

Good

Cupertino Realty Corporation
Land 1 - TOT# 095-2011000677

6

Rented / Owned

Staffhouse

Office space5

Address

Land 2 - TOT# 095-2011000678
Building 1
Building 2
SM BULK WATER CO., INC.
Land
Bobulusan, Guinobatan, AlbayLand
Brgy. Batang, Ligao City
Land
Tabuyoc, Apalit, Pampanga
SMC STOCK TRANSFER SERVICE CORPORATION
Office Space
Units 1505-1507, Robinsons Equitable Tower, ADB
Avenue, corner Poveda, Pasig City
Parking Space
Parking Slots 31-33, Robinsons Equitable Tower, ADB
Avenue, corner Poveda, Pasig City
8380 Dr. A Santos Avenue, Sucat, Parañaque City
SAN MIGUEL PAPER PACKAGINGCORPORATIONSAN MIGUEL INTEGRATED LOGISTICS SERVICES INC.
45 Muelle Dela Industria Binondo Manila
Warehouse
Brgy. Talomo, Ulas, Davao City
Ulas Warehouse
8380 Dr. A. Santos Avenue, Barangay BF Homes,
Warehouse
Sucat, Paranaque
Purok 5, Brgy Rawis Legazpi City
Land
A. Mabini Street San Juan CityLand
Fe Martinez St. Brgy Anghit Daet Camarines NorteLand
SAN MIGUEL INTEGRATED MERCHANDISING SERVICES INC.
6th Floor, Unit C&D, JMT Corporate Condominium, ADB
OfficeAvenue, Mandaluyong City
G/F, IT Benedicto College, A.S. Fortuna Street, Bakilid,
OfficeMandaue City
Lot 1 C. Ramon Diaz St., Villa Corazon del Rosario,
OfficeNaga City, Camarines Sur
Kingspire Business Centre, KM. 71, Mc Arthur Hiway,
OfficeBrgy. San Isidro, San Fernando City, Pampanga
Room 304, 2nd Floor, G & J E Bldg., Cor. Hernaez
OfficeLocsin Sts., Brgy. 38, Bacolod City, 6100
127B, Sorongon Drive, Brgy. Danao, Iloilo City
Office
2nd Floor, 1st Door, Realmark Commercial Hub Mons.
Office#430 Hayes St., Pinikitan, Cagayan De Oro City
Room No. 7, 2nd Floor, Brgy. Zamora Extension, Pogo
OfficeChico, Dagupan City
SMC MULTI-SERVICES INC.
SMC C5 Complex No. 100 E. Rodriguez Jr. Ave C5
OfficeRoad, Pasig City

Renewable upon mutual agreement of theparties
Renewable upon mutual agreement of theparties

Page 41

Company Name / Subsidiary

11

12

13

Address

SMC REPAIRS & MAINTENANCE INC.
Office#100 E. Rodriguez Jr. Ave., (C5 Road), Brgy. Ugong,
Pasig City 1604
SMC INTEGRATED FARM SPECIALISTS INC.
#100 E. Rodriguez Jr. Ave., (C5 Road), Brgy. Ugong,
OfficePasig City 1604
SAN MIGUEL EQUITY INVESTMENTS INC. AND SUBSIDIARIESSan Miguel Equity Investments Inc.
No. 40 San Miguel Avenue, Mandaluyong City
Office Space
Ionic Cementworks Industries Inc.
Pagbilao, Quezon
LandSouthstrong Cement Industries Corp.
Leganes, Iloilo
Land
Tayasan, Negros Oriental
Land
Primero Cemento Industries Corp.
Agno, Pangasinan
LandSouthern Concrete Industries Inc.
Darong, Sta. Cruz, Davao del Sur
Land
Darong, Sta. Cruz, Davao del Sur
Land
Darong, Sta. Cruz, Davao del Sur
Cement Grinding Plant
E-Novate Holdings, Inc.
Cagniog and Trinidad, Surigao City
Land
Northern Cement Corporation
3rd Flr 155 Edsa Building, 155 Edsa Brgy Wack Wack
Head Office Space
Mandaluyong
Brgy. Labayug, Sison Pangasinan
Cement Plant
Brgy. Labayug, Sison Pangasinan
Cement Plant

Rented / Owned

Condition

Owned

Good

Owned

Good

Owned

Good

Owned

Good

Owned
Owned

Good
Good

Owned

Good

Owned
Owned
Owned

Good
Good
Good

Owned

Good

Owned

Good

Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good

Owned

Good

Land
Land
Land

Brgy. Inoman, Pozorrubio, Pangasinan
Brgy. Labayug, Inmalog - Sison Pangasinan
Brgy. Bila And Paldit - Sison, Pangasinan
Brgy. Amagbagan, Sison, Pangasinan
Brgy. Bobonan, Inoman, Sugcong - Pozorrubio,
Pangasinan
Brgy. Lunec, Malasiqui, Pangasinan
Brgy. Asin, Malasiqui, Pangasinan
Brgy. La Paz, Villasis And Mangan Dampay - Malasiqui,
Pangasinan
Brgy. Mangan Dampay, Taloyan, Bacudao - Malasiqui,
Pangasinan
Brgy. Ansagan, Tuba, Benguet
Brgy. Tubod And Namonitan - Sto Tomas, La Union
Brgy. Namonitan And Casantaan - Sto Tomas, La Union

Good
On-going
Construction
Good
Good
Good
Good
Good

Owned
Owned
Owned

Good
Good
Good

Land

Brgy. Guset sur, Sto. Domingo - San Manuel Pangasinan

Owned

Good

Land
Land
Eagle Cement Corporation
Head Office Space

Brgy. Paldit, Sison, Pangasinan
Brgy Olympia, Makati City

RentedRentedGood
Good

2F Smits Bldg. 155 EDSA, Brgy. Wack-Wack,
Mandaluyong City

Owned

Good

Land
Land
Land
Land
Land
Land
Land
Land
Land

Monthly Rental(In PhP, Unless
Otherwise Indicated)

80,405.74
35,740.34

Expiry of Lease Contract

December 31, 2025
December 31, 2024

Terms of Renewal / Options

Renewable subject to conditions
Renewable subject to conditions

Page 42Company Name / Subsidiary

Address

Brgy. Akle, San Ildefonso, Bulacan
Brgy. Lamao, Limay, Bataan
Brgy. Akle, San Ildefonso, Bulacan
Brgy. Bohol na Mangga, San Ildefonso, Bulacan
Brgy. Alagao, San Ildefonso, Bulacan
Brgy. Talbak, DRT, Bulacan
Brgy. Kalawakan, DRT, Bulacan
Brgy. Biak-na-Bato, San Miguel, Bulacan
Brgy. Mabalasbalas, San Rafael, Bulacan
Brgy. Gabihan, San Ildefonso, Bulacan
Brgy. Caingin, San Rafael, Bulacan
Brgy. Caigsing, Ginatilan, Cebu
Brgy. Campisong, Ginatilan, Cebu
Brgy. Guiwanon, Ginatilan, Cebu
Brgy. Looc, Ginatilan, Cebu
Brgy. Malatbo, Ginatilan, Cebu
Brgy. Poblacion, Ginatilan, Cebu
Mabalacat, Pampanga
Harvard Street, Wack Wack Village Subdivision, Brgy
Wack Wack, Mandaluyong City(EDSA), Wack Wack Subdivision, Brgy Wack Wack,Land
Mandaluyong City
Malasique,Pangasinan
Warehouse Space
Paranaque City
Warehouse Space & Driveway
Paranaque City
Parking Space
Ibaan, Batangas
Warehouse Space
Ibaan, Batangas
Parking Space
Imus, Cavite
Warehouse Space(a)
The change in the corporate name was approved by the SEC on March 9, 2023
Cement Plant
Cement Grinding Plant
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land
Land

(b)

The change in the corporate name was approved by the SEC on March 31, 2023.

(c)

The change in the corporate name was approved by the SEC on February 7, 2023.

(d)

The change in the corporate name was approved by the SEC on March 9, 2023.

(e)

The change in the corporate name was approved by the SEC on November 13, 2023.

(f)

The change in the corporate name was approved by the SEC on September 21, 2023.

(g)

The change in the corporate name was approved by the SEC on November 3, 2023.

(h)

The change in the corporate name was approved by the SEC on March 22, 2023.

Rented / Owned

Condition

Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned
Owned

Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good
Good

Owned

Good

RentedOwned
Owned
RentedRentedRented

Good
Good
Good
Good
Good
Good

Monthly Rental(In PhP, Unless
Otherwise Indicated)

Expiry of Lease Contract

Terms of Renewal / Options

137,340.00

December 31, 2023

Renewable subject to conditions

261,360.00
178,571.43
239,285.71

December 31, 2023
December 31, 2023
April 30, 2025

Renewable subject to conditions
Renewable subject to conditions
Renewable subject to conditions

Note: All owned properties are free of liens and encumbrances, except for the following:(i)
The Power Plant, including all related facilities therein, and the leasehold rights for the leased land are mortgaged in favor of the lenders to secure the loan obligation of LPI;(j)

The Power Plant, including all related facilities therein, and the leasehold rights for the leased landare mortgaged in favor of the lenders to secure the loan obligation of MPI;(k)

The Power Plant, including all related facilities therein, and the land are mortgaged in favor of the lenders to secure the loan obligation of MPCL; and(l)

The BESS, including all related facilities therein, and the leasehold rights for the leased land are mortgaged in favor of the lenders to secure the loan obligation of SMGP BESS.

Page 43

ANNEX “E”

SAN MIGUEL CORPORATION
LIST OF PRODUCTS FOR 2023

LIST OF PRODUCTS
I. BEER AND NAB
1. San Miguel Pale Pilsen
2. San Mig Light
3. San Miguel Super Dry
4. San Miguel Premium All-Malt
5. Red Horse
6. Red Horse Super
7. Gold Eagle
8. Cerveza Negra / San Miguel Cerveza Negra
9. San Miguel Flavored Beer
10. San Mig Zero
11. San Miguel NAB
12. San Miguel Flavored NAB
13. San Miguel Cerveza Blanca
14. San Miguel Chocolate Lager (Limited Edition)
15. Valor
16. Blue Ice
17. Dragon
18. W1N Bia (Bia Hoi)
19. Anker
20. Kuda Putih
21. Bruck
22. Knight
23. San Mig Hard Seltzer
24. Batavia
ALCOHOL-FREE BEVERAGE
1. San Mig FreeNON-ALCOHOLIC BEVERAGES
1. Magnolia Fruit Drink
2. Magnolia Healthtea
3. Cali
4. Magnolia Flavored Water

1

BREWED FOR PRIVATE LABEL
1. Ikinama
2. Kiwamugi
3. Ceus
4. Elite
BREWED UNDER LICENSING/TOLLINGAGREEMENT
1. Carlsberg
2. Sunlik
IMPORTED/DISTRIBUTED
1. Kirin Ichiban
2. Samuel Adams
3. Sam 76
4. Angry Orchard
5. Spitfire
6. Whitstable Bay
7. Mahou
8. Magners
9. Arcobrau2II. SPIRITS
1. GINEBRA SAN MIGUEL
2. GINEBRA SAN MIGUEL PREMIUM GIN
3. G.S.M. BLUE LIGHT GIN
4. G.S.M. BLUE FLAVORS (Mojito, Margarita, Gin Pomelo, and Cosmopolitan)
5. PRIMERA LIGHT (Primera Light Imported)
6. VINO KULAFU (Chinese Wine)
7. ANTONOV VODKA
8. 1834 PREMIUM DISTILLED GIN
9. AÑEJO GOLD RUM
10. G&T Ultralight Spirit Drink (Lemon Ginger and Apple Black Tea)
11. SAN MIGUEL ETHYL ALCOHOLFOR EXPORT ONLY
12. Tondeña Manila Rum (Gold)3

III. FOOD
San Miguel Foods, Inc.
POULTRY
Live Broilers
Dressed Chicken (Wholes)
Magnolia Fresh Chicken (Fresh Chilled, Frozen)
Magnolia Spring Chicken (Fresh Chilled, Frozen)
Magnolia Big Bird (Fresh and Frozen)
Magnolia Jumbo Chicken (Fresh and Frozen)
Magnolia Free Range Chicken (Fresh and Frozen)
Cut-ups
Magnolia Chicken Cut-ups (Fresh Chilled, Frozen)
Magnolia Chicken Station Cut-ups (Cut and packed in the Chicken Stations)
Magnolia Free Range Cut-ups
Marinated, Ready to Cook
Magnolia Chicken Timplados Ready-to-Cook (Fried Chicken, BBQ, Tocino, Teriyaki,
Spicy Wings, Oriental Wings, Inasal, Spicy Fried Chicken, Roasters Lemon Herb,
Roasters Smoked Pepper, Bola-Bola, Chicken Longanisa, Grillers Classic Roast,
Cheesy Fingers, All-around Pangsahog, All-around Giniling, Fried Chicken Drumsticks
with BBQ seasoning, Pinoy Streat Foods Chicken Skin, Classic Burger)
Magnolia Chicken Station Timplados (Cheesy Fingers, Vanilla Fingers, Lumpiang Shanghai,
Spicy Neck, Chicken Frillers, Korean BBQ, Chicken Siomai, Chicken Tapa) – producedin Chicken Stations
Magnolia Chicken Streat Sarap (Isaw, Chicken Feet, Chicken Neck)
Magnolia Real Chicken Burger SteakGiblets
Magnolia Chicken Giblets (Fresh and Frozen Liver and Gizzard)
Institutional
Whole Chicken
Customized Bone-in Cut-ups and Deboned Fillets
Brown Eggs
Magnolia Cage-Free Brown Eggs 12sMagnolia Egg-A-Day 7s
FRESH MEATSLive Hogs
Wholesale Cuts
Pork
Hog Carcass
Boxed Primal Parts
Beef
Beef Forequarters
Beef Hindquarters
Boxed Primal Cuts
Retail Cut-ups
Monterey Primal Cuts (Pork, Beef)
Monterey Meatshop Cut Ups (Pork, Beef) - cut and packed in Monterey Meatshops
4

MarinatedMonterey Meatshop Timplados (Pork, Beef) - produced in Monterey Meatshops
Pork BBQ Tenderloin Skewers
Monterey Exclusives (Pork BBQ, Baby Back Ribs, American Style Ribs, Pork Tocino)
FEEDS
Animal and Aquatic Feeds
Hog Feeds
B-MEG Premium Hog Feeds
B-MEG Premium Super Inahin Hog Pellets
B-MEG Premium Super Biik Hog Pellets
B-MEG Expert Premium Formulation Hog Pellets
B-MEG Expert Complete Nutrition Hog Feeds
B-MEG Mega Mash
B-MEG Essential Hog Feeds
B-MEG Essential Performix
B-MEG Bonanza Hog Pellets
Jumbo Hog Feeds
Pureblend Hog Feeds
Poultry Feeds
B-MEG Essential Layer
B-MEG Essential Broiler
B-MEG Essential Broiler Breeder
B-MEG Premium Layer
B-MEG Premium Broiler
B-MEG Expert Layer
B-MEG Layer
B-MEG Broiler
B-MEG Ducks
B-MEG Free Range Chicken Feeds
B-MEG Integra
B-MEG Integra Powermaxx
B-MEG Derby Ace
B-MEG Alertone Mixed Grains
B-MEG Fighting Cock Pellets
B-MEG F-Series
B-MEG Pigeon Pellets
Jumbo Pullet Developer Pellets
Pureblend Layer Feeds
Pureblend Broiler Feeds
Pureblend Duck Feeds
Aquatic Feeds
B-MEG Prize Catch Super Premium Extruded Floating Feeds
B-MEG Prize Catch Premium Extruded Floating Feeds
B-MEG Prize Catch Premium Sinking Feeds
B-MEG Aquaration Extruded Floating Feeds
B-MEG Aquaration Extruded Sinking Feeds
OthersPureblend Quail Feeds
B-MEG Horse Feeds
Concentrates
B-MEG Hog Concentrate
B-MEG Essential Pig Protein Concentrate
B-MEG Essential Goat Concentrate
B-MEG Essential Cattle Concentrate5

Animal Health Care Veterinary Medicines
Anti-infective - Water Soluble Preparations
Amoxil-V (Amoxicillin 20%)
Cephalexin 20%
Chlortetracycline 25%
Cotrimoxazole 48%
Doxa-V (Doxycycline 20%)
Dox-C-Lin Gold Premium
B-MEG Integra Trimax
B-MEG Integra CXD-3
Supplement/Vitamins - Water Soluble Preparations
Elec-V (Electrolytes)
Multi-V (Multi-vitamins)
Multivitamins + Minerals + Amino Acids
Vitamin B-Complex (Broiler)
B-MEG Integra Electromax
B-MEG Integra Multimax
Anti-Inflammatory/Anti-pyretic - Water Soluble Preparation
Para-V
Dewormer/Anti-nematodal - Water Soluble Preparations
Bulatigok SD (Levamisole 2%)
Bulatigok (Levamisole 20%)
Injectables
Alamycin LA
Supplement/Vitamins - Injectables
Iron Vet
Norovit
Oral Preparations
B-MEG Integra Trifast
B-MEG Integra Power Edge
B-MEG Integra Worm-X
B-MEG Integra Worm-X Maxx
B-MEG Integra Multimax D5
Anti-infective - Liquid Preparations
Norfloxacin 20%
Doxa-V Plus 20%
Supplement/Vitamins - Liquid Preparations
Vitamin ADE OS
Vitamin E 60%
Multi-V
Multi-V Plus (MV+AA OS)
PneumoCare (Essential Oils + Ethanol)
Vita-Levo
Anti-infective - Feed Premix
Tiamulin 10%
Supplement/Vitamins - Feed Premixes
B-MEG Essential Swine Vitamin
B-MEG Essential Swine Mineral
B-MEG Essential Poultry Vitamin
B-MEG Essential Poultry Mineral6

DisinfectantsProtect Plus
Protect Plus Gold
Aqua Care
Calci Clear
Sanivir Smoke
OthersB-MEG Integra Feather Shine Shampoo
Cyrokill
Pet Care
Mainstream Dog Food
Nutri Chunks Hi-Protein Puppy Lamb
Nutri Chunks Optimum Adult Beef
Nutri Chunks Optimum Adult Lamb
Nutri Chunks Coatshine Adult Salmon
Nutri Chunks Maintenance Adult Beef
Nutri Chunks Maintenance Small Breed Lamb
Economy Dog Food
AlphaPro Regular Bites Adult Beef
AlphaPro Small Bites Adult Beef
Dog Treats
NutriChunks Milk Flavored Sticks
NutriChunks Beef Flavored Sticks
Pet Health/Wellness
NutriChunks Wormshot Dewormer
NutriChunks Multi-V Yum Supplement

San Miguel Mills, Inc.
Hard Wheat Flour
EmperorKing
Pacific
MonarchHarina de Pan de Sal
Count
Soft Wheat Flour
Queen
Countess
Red Dragon
Nova
Vega
Alpha
PolarisSpecialty Flour
Baron All-Purpose Flour
Gallant All-Purpose Flour
Baron Siopao Flour
Princess Cake FlourGolden Wheat Whole Wheat Flour (Fine and Coarse)

7

Customized Flour
Royal Premium Noodle Flour
Royal Special Noodle Flour
Prince Miki Flour
Prince Noodle Flour
Prince Wrapper Flour
Premixes
Bake Best Bibingka Mix
Bake Best Brownie Mix
Bake Best Butter Cake Mix
Bake Best Crinkle Mix
Bake Best Pan De Sal Mix
Bake Best Puto Mix
Bake Best Yeast Raised Doughnut Mix
Bakery Ingredients
Bake Best Baking Powder
Bake Best Bread Improver
Bake Best Gold Bread Improver
Bake Best Platinum Bread ImproverEmperor’s Best Instant Yeast
Other Wheat Flours
Mabini
Humabon

The Purefoods-Hormel Company, Inc.
REFRIGERATED MEATS
Hotdogs
Purefoods Tender Juicy Hotdog (Classic, Jumbo, King Size, Cocktail, Cheesedog, Chick ‘nCheese, Giant, Cheesy Pizza, Cheesy Spaghetti, Balls, Cheeseballs, Cheesy Corndog,
Classic Corndog, Chili, Chili & Cheese)
Purefoods Star Hotdog (Classic, Cheezeedog, Chick n’ Tasty, Cheeseballs, Footlong)
Purefoods Star Cheesedog (Regular, Jumbo, Footlong)
Purefoods Star Chick n’ Tasty (Regular, Jumbo)
Higante Hotdog (Classic, Cheesedog, Chicken, Chicken and Cheese)
Purefoods Deli Franks (German, Angus Beef, Cheese, Spicy Pepper Beef)
Purefoods Deli Sausages (Bockwurst, Schublig, Hungarian Cheese, Breakfast Sausage)
Purefoods Beefies Hotdog (Regular, Lots-a-Cheese)
Vida Hotdog
Bongga Hotdog
Breaded, Battered and Fried
Purefoods Chicken Nuggets (Chicken Breast Nuggets, Crazy Cut Shapes, Letters &Numbers, Bacon & Cheese, Cheese Overload, Drummets, Chicken Popcorn, Spicy
Chicken Nuggets)
Purefoods Fish Nuggets
Purefoods Shrimp Tempura
Purefoods Tail-On Shrimp
Purefoods Squid Rings
Purefoods Chicken Katsu
Purefoods Pork Katsu
Purefoods Chicken Karaage
Purefoods Crispy Fried Chicken (Classic, Soy Garlic, Garlic Parmesan)Star Chicken Nuggets (Chicken, Chick’n Cheese)Star Burger Bites

8

BaconPurefoods Bacon (Honeycured, Maple-flavored, Thick Cut Honeycured, Bacon Crumble,
Beef Bacon)
Hormel Black Label Bacon
Vida Bacon
Premium RM (under Deli portfolio)
Purefoods Deli Patty (Angus Beef, Breakfast Sausage)
Sliced Hams
Purefoods Ham (Sweet, Cooked, Chicken)
Purefoods Fiesta Ham Slices
Star Sweet Ham
Vida Sweet Ham
Whole Hams
Purefoods Fiesta Ham (Whole, Pre-Sliced, Bone-in, Chicken)
Purefoods Jamon de Bola (Pork, Chicken)
Purefoods Chinese Ham
Purefoods Brick Ham
Purefoods Pear-Shaped Ham (Pork, Chicken)
Jamon Royale
Ready-to-Cook/Ready-to-Eat
Purefoods Sisig
Purefoods Chicken Teriyaki, Chicken Balls
Ready-to-Eat Viands (Kare Kare, Bistek Tagalog, Lechon Paksiw, Pork Binagoongan, Pork
Humba, Beef Caldereta, Beef Pares, Bicol Express, Chicken Afritada, Callos, Korean
Beef Stew, Dinuguan, Chicken Pastel, Chicken Curry, Pininyahang Manok, Chicken
Caldereta, Beef Mechado)
Ready-to-Eat Classic Filipino Soups (Beef Bulalo, Beef Kansi, Chicken Binakol,
Sinampalukang Manok)
Purefoods Sauces (Spaghetti Sauce)
Native Line
Purefoods Tocino (Classic, Sweet Chili, Chicken)
Purefoods Longanisa (Hamonado, Recado, Chicken)
Purefoods Tapa (Beef, Chicken, Sweet & Spicy Beef, Hot & Spicy Chicken)
Purefoods Adobo Flakes
Purefoods BBQ ala Liempo (Pinoy BBQ)
Purefoods Chicken Inasal
Purefoods Chicken Barbecue
Purefoods Sisig
Purefoods Chicharon Bulaklak
Plant-Based
Veega Meat Free Line (Burger Patty, Sausage, Giniling, Nuggets, Balls)
Veega Meat Free RTE Line (Bulgogi, Spicy Soy Garlic Balls)
Veega Vegan Line (Adobo Flakes, Tapa, Tocino)
GROCERY PRODUCTS
Corned Meats
Purefoods Corned Beef (Classic, Hash, Chili, Hot & Spicy, with Chunks, Bulgogi, Mechado,
Salpicao)
Purefoods Corned Chicken (Classic, Hot & Spicy)
Chunkee Corned Beef
Star Corned Beef (Regular, Chunky Cheese)Star Carne Norte
Bongga Carne Norte (Regular, Hot & Spicy)

9

Luncheon Meats
Purefoods Luncheon Meat Round Can (Classic, BBQ, Chili Pepper, Bacon, Cheese, Lite)
Purefoods Luncheon Meat Square Can (Classic)
Purefoods Chinese Style Luncheon Meat
Purefoods Chicken Luncheon MeatStar Beef Loaf
Star Meat Loaf
Star Nutri-Meats Ulam Loaf (Hot & Spicy, Embutido)
Bongga Beef Loaf
SPAM (Regular, Less Sodium, Lite, Tocino, Hot & Spicy, Bacon)
Sausages
Purefoods Vienna Sausage
Star Nutri-Meats Sausage
Canned Viands
Purefoods Sizzling Delights (Sisig, Chicken Sisig)
Ulam King (Caldereta, Menudo, Mechado)Star Nutri-Meats Ulam (Adobo, Bicol Express, Bistek, Caldereta, Humba, Kare-Kare,
Mechado, and Pares)
Canned Chicken
Purefoods Chicken (Broth, Afritada, Homestyle-Curry, Hot & Spicy)
Specialty Grocery Products
Purefoods Liver Spread
Purefoods Spaghetti Meat Sauce
Purefoods Chorizo Bilbao StyleStar Nutri-Meats Liver spread
Peanut Butter
SKIPPY (Creamy, Chunky, No Sugar No Salt Added, Choco Stripes)

Magnolia Inc.
BUTTER, MARGARINE, AND CHEESE
Butter and Margarine
Magnolia Gold Butter (Salted, Unsalted)
Magnolia Gold Spreadable
Magnolia Butter-licious! (Salted and Unsalted)
Whipped Butterblend (Food Service)
Butterblend (Food Service)
Refrigerated Margarine
Dari Creme (Classic, Buttermilk)
Dari Creme Spreadable
Buttercup
Baker’s Best
Non-Refrigerated Margarine
Star Margarine (Classic, Sweet Blend, Garlic, Chocolate)
Delicious Margarine
Magnolia Non-Refrigerated Margarine (Food Service)
Primex Shortening (Food Service)
NRM Buttermilk (Food Service)10

CheeseMagnolia Cheezee Block (Regular, Milky White)
Magnolia Cheezee Spread (Plain, Pimiento, Milky White)
Magnolia Cheezee Squeeze (Cheddar, Pimiento)
Daily Quezo
Magnolia Quickmelt
Magnolia Cheddar
Magnolia Cream Cheese (Block, Spread)
Magnolia Christmas Cheeseballs (Queso de Bola, Gold Edam) - Seasonal
Magnolia Food Service Cheese (Cheese Sauce, Filled Cheese, Cheesefood, Hi-Colored
Cheese, Sharp Flavored Melting Cheese)
MILK
Magnolia Chocolait
Magnolia Fresh Milk
Magnolia Low Fat Milk
Magnolia Full Cream Milk
Magnolia Non Fat Milk
ALL-PURPOSE CREAM
Magnolia All-Purpose CreamSALAD AIDS
Magnolia Real Mayonnaise
Magnolia Sandwich Spread
Magnolia Mayoriffic
Magnolia Creamy Chicken Spread
FLOUR MIXES
Magnolia Pancake
Magnolia All Purpose Flour
Magnolia Cake Mixes
ICE CREAM
Bulk Ice Cream
Magnolia Classic (Kesong Puti, Avocado, Vanilla, Chocolate, Ube)
Magnolia Gold Label (Vanilla, Chocolate, Ube, Mango, Avocado, Smores, Double Dutch,
Cookies and Cream, Rocky Road, Wintermelon Milk Tea, Quadruple Chocolate, Choco
Peanut Butter, Taro White Cheese, Tablea Yema, Avocado Macchiato, Ube Keso,
Kesong Puti, Mango Dark Chocolate, Latte Choco Brownie)
Magnolia Food Service (Tablea Yema, Taro White Cheese, Kesong Puti, Macapuno, Buko
Pandan, Dark Chocolate, Ube Keso, Wintermelon milk tea)
San Miguel Gold Label (For Export)
SMGL Mellorine (Ube, Ube Keso, Creamy Halo-Halo, Mango, Avocado Macchiato,
Macapuno, Ube Swirl, Avocado, Keso, Kesong Puti, Tato White Cheese, Macapuno,
Tsokolate, Kape’t Tsokolate, Tablea Yema, Langka, Langka’t Kasuy, Buko, Buko
Pandan)SMGL Frozen Dessert (Ube, Macapuno Ube Swirl, Creamy Halo-Halo, Mango, Avocado,
Buko Pandan, Durian, Ube Keso)
SMGL Ice Confectionery (Ube, Ube Keso, Macapuno Ube Swirl, Creamy Halo-Halo,
Avocado, Buko Pandan, Durian, Mango)
Magnolia Gold Label (Vanilla, Chocolate, Mango, Cookies & Cream, Double Dutch, Rocky
Road, Avocado Macchiato, Ube, Ube Keso, Macapuno Ube Swirl,Creamy Halo-Halo,
Smores, Tablea Yema, Taro White Cheese, Quadruple Chocolate, Avocado, Kesong
Puti, Mango Dark Chocolate, Latte Choco Brownie)
Magnolia Classics (Vanilla, Chocolate, Ube, Mango, Strawberry)11

San Miguel Super Coffeemix Co., Inc.
CoffeeSan Mig Super Coffee Regular 3-in-1 Coffee – Original
San Mig Super Coffee Sugar Free 3-in-1 Coffee (Mild, Original, Strong, and White)
San Mig Super Coffee 3-in-1 Barako
San Mig Super Coffee 3-in-1 Crema White Coffee
L’OR Essenso Micro Ground Coffee (3-in-1, 2-in-1, 2-in-1 Colombian Mystique, 3-in-1
Brazilian Elegance)
Moccona Instant Pure (Espresso, Roasted Hazelnut, Classic Medium Roast, Classic Dark
Roast, Indulgence)
Moccona Cafe Style Coffee Mix (White Espresso, Latte, and Cappuccino)
L’OR Capsules (Profondo, Ristretto, Supremo, Origins India, Origins Colombia, Origins
Papua New Guinea)

San Miguel Foods, Inc. - Great Food Solutions (GFS)
House Brands, Customized Products, and Traded Products
Ready-to-eat/Fully Cooked
Cook Express (Beef Tapa, Chili Con Carne, Chicken Chunks in Brine, Chicharon Bulaklak,
Corned Beef Brisket)
Customized (Fully Cooked Chicken Cut-ups, Chorizo Mix)
FS Beef Pares
Marinated Meats
Chef’s Selection Chicken Tocino
Burger Patties & Meatballs
Chef’s Selection (Angus Burger Patty, Quarter Pounder Burger Patty, Sausage Patty,
Chorizon Hamonado Patty, Value Beef Burger, Value Chicken Burger)
Customized (Beef Patty, Chicken Chorizo Patty, Chicken Sausage Patty, Meatballs)
Breaded, Battered, & FriedCook Express (Chicken Karaage, Corndog, Korean Corndog, Breaded Chicken Bites)
Customized BBF (Hot Chicks, Chicken Tenders, Breaded Chicken Fillet, Cheesy Chicken
Bites)FS Mini Corndog
Bakery Products
Crunchy Pan (Spicy Beef, Tuna Melt, Chocolate)
CheeseMozzarella Cheese
Pizza Topping
Purefoods Customized Pizza Toppings
Magnolia Customized Cheeses
Customized Flours

12San Miguel Pure Foods (VN) Co., Ltd.
Sausage
Le Gourmet German Sausage
Le Gourmet Deli Sausage
Le Gourmet Deli Sumo Sausage
Le Gourmet Beer Garden Sausage
Le Gourmet Viet My Sausage
Le Gourmet My Sausage
Le Gourmet Hao Vi Sausage
Le Gourmet Cocktail Sausage
Le Gourmet Chinese Sausage
Le Gourmet Black Pepper Sausage
Le Gourmet Smoked Sausage
Le Gourmet BBQ Sausage
Le Gourmet Italian Sausage
Le Gourmet Hotdog
Le Gourmet Hotdog Corndog
Purefoods Tender Juicy Hotdog
Bacon
Le Gourmet Smoked Bacon
Le Gourmet Lean Smoked Bacon
Ham
Le Gourmet Ham
Traditional
Le Gourmet Cha Lua
Le Gourmet Cha Bo
Le Gourmet Gio Thu
Le Gourmet Beef Ball
Paste
Le Gourmet Pate
Ready-to-Cook/ Ready-to-Eat
Le Gourmet Spaghetti with Pasta
Foodservice/ Specialty
Le Gourmet Beef Toppings
Le Gourmet Pepperoni
Le Gourmet Meatballs

132023 LIST OF PETRON PRODUCTSPETRON PHILIPPINES
FUELS
Automotive Fuels
Petron Blaze 100 Euro 6
Petron XCS
Petron Xtra Advance
Petron Turbo Diesel
Petron Diesel Max
Industrial Fuels
Petron Fuel Oil
Aviation Fuels
Aviation Gasoline
Jet A-1
Household Fuels
Gasul
FiestaGaas
AUTOMOTIVE LUBRICATING OILSDiesel Engine Oils
Rev-X Turbo HTP
Rev-X Fully Synthetic
Rev-X Synthetic Blend
Rev-X Premium Multi-grade
Rev-X Multi-grade
Rev-X Pantra
Rev-X HD4X
Rev-X HD
Rev-X Hauler
Petron XD3Petron Railroad Extra
Gasoline Engine Oils
Blaze Racing HTPBlaze Racing Fully Synthetic
Blaze Racing Synthetic Blend
Blaze Racing Premium Multi-grade
Blaze Racing Multi-grade
Petron MO
Motorcycle Oils
Petron Sprint 4T Fully Synthetic HTP

2023 Petron Product List

Petron Sprint 4T Fully Synthetic
Petron Sprint 4T Premium Multi-grade
Petron Sprint 4T Synthetic Blend
Petron Sprint 4T Multi-grade
Petron Sprint 4T Mono-grade
Petron Sprint 4T Scooter Oil Fully Synthetic
Petron Sprint 4T Scooter Oil Synthetic Blend
Petron Sprint 4T Scooter Oil Premium Multi-grade
2T Powerburn
2T Premium
2T Autolube

Automotive Gear Oils
Petron GHTP Gear Oil
Petron GX
Petron GEP
Perton GST
Petron Scooter Gear Oil

Automotive Transmission Fluids
Petron CVT Fluid
Petron ATF Premium HTPPetron ATF Premium
Petron TF 38
Petron TDH 50

Other Automotive Oils
STM

INDUSTRIAL LUBRICATING OILS
Turbine, Hydraulic and Circulating Oils
Hydrotur AW 22 / 32 / 46 / 68 / 100
Hydrotur AWX 32 / 46 / 68 / 100
Hydrotur AW GT 32
Hydrotur EP 32 / 46 / 68 / 100
Hydrotur N 100
Hydrotur R 32 / 46 / 68 / 100 / 150 / 185 /
220 / 320
Hydrotur SX 68
Hydrotur T 32 / 46 /68
Hydrotur TEP 68 / 77
Food Grade Hydraulic Oil
Hydrotur FG H1 - 68
Industrial Gear Oils
Hydrotur SX 220

Issue Date: March 2024

Hypex EP 68 / 100 / 150 / 220 / 320 / 460 / 570/ 680 / 1000 / 4000 / 25k (Oil-Based)
Hypex EP 2K / 4K (Asphalt-Based)
Milrol 5K
Gearfluid 2K / 5K / 8K
Gearkote 3K / 22K / 68K
Petrocyl S 390 / 700
Petrocyl 680

Petromar XC 2030 / 2040
Petromar XC 3030 / 3040
Petromar XC 4040 / 4050
Petromar XC 5040 / 5540
Petron MS 9250 / 9370

Food Grade Gear Oils
Hypex FG H1 150 / 220 / 320

Marine outboard 2-stroke oil
Petron Regatta

Industrial Transmission Oils

GREASESPetron Hi-Torq TX 10W / 30 / 40 / 50
Petron Universal Tractor Fluid
Cutting Oils
Turnol 40
Petrokut 10 / 27
Refrigeration Oils
Zerflo 68
Zerflo P68
Zerflo SXTransformer Oil
Voltran 60
Slideway Oil
Hydrotur SW 68
Hydrotur SW 220
Other Industrial Lubricating Oils
Airlube 100 / 150 / 320
Petrosine 68
Petron Mould Lube
MARINE LUBRICATING OILS
Crosshead Engine Cylinder Oils
Petromar DCL 7050
Petromar DCL 4000 Series
Trunk Piston Engine Oils
Petromar HF 1040 / 1540
Petromar HF 2040
Petromar HF 3000 series
Petromar HF 4000 series
Petromar HF 5040 / 5540
Petromar XC 1030 / 1040 / 1050 / 1530 / 1540

2023 Petron Product List

Crosshead Engine System Oil
Petromar 65

Multi-purpose Greases
Petron Grease MP 2 / 3
Molygrease Premium
Petrogrease Premium
Water Resistant Grease
Petrogrease XX
Extreme Pressure Greases
Petrogrease EP 00 / 0 / 1 / 2
Molygrease EP 2
Molygrease EP 2P
Petrogrease EP 375
Petron Moly LX EP 2
Petron OGX Grease HV 0/00
High Temperature Greases
Petrogrease HT
Complex Greases
Petron Grease HTP Lithium Complex
Petron Premium Lithium Complex
Food Grade Grease
Petrogrease EP FG H1 - 2
ASPHALTS
Penetration Asphalt
Petropen
Cutback Asphalt
Petropen CB
Emulsified Asphalt
Petromul SS-1
Petromul CSS -1

Issue Date: March 2024

Blown Asphalts
Asphaltseal
Asphalt Joint Sealer
Polymer Modified Bitumen
Petron Polymer Modified Bitumen
SPECIAL PRODUCTS
Process Oils
Stemol 68
Petrosine 68
Process Oil series
Heat Transfer Oil
Petrotherm 32
Cleaning Agent
Greaseaway
Greasolve
Protective Coatings
Petrokote 392
Marinekote
Autokote
Cablekote 70
AFTERMARKET SPECIALTIESPetroMate Oil Saver
PetroMate Diesel Power Booster
PetroMate Engine FlushPetroMate Super Coolant
PetroMate Penetrating Oil
PetroMate Greaseaway
PetroMate Brake and Clutch Fluid
Petron Brake Fluid HTP DOT 4PERFORMANCE ADDITIVES &CHEMICALS
pCHEM DEF (Diesel Exhaust Fluid)
pCHEM 3500
pCHEM 3500F
pCHEM 140M
pCHEM 3500MF
pCHEM 500FS
pCHEM 1000
pCHEM 100X
pCHEM 3500M
pCHEM 3000DPpCHEM 6000DPpCHEM BT25

2023 Petron Product List

Issue Date: March 2024

SAN MIGUEL YAMAMURA PACKAGING GROUPPRODUCTS AND SERVICES
GLASSApplied Color Label (ACL) decorated bottles
Stock Glass Bottles
Custom Glass Bottles
Mold Design and Manufacturing

PLASTICS
CratesPallets
Plastic Top Frames
Pigpen Flooring (TUFFMat)
Chicken Flooring (E-MAT)
Food Trays
One-Way Containers(Industrial Pails, Jerry Cans, Tubs and Lids)
Plastic Closures

METAL
2-Piece Aluminum Cans (Body, Ends, Retortable Aluminum Cans, Thermochromic and Glow-inthe-Dark Cans)
CrownsLug Caps
EDDPP (Extra Deep Drawn Pilfer Proof) CapsContinuous Thread Caps

PAPER
Single Face Web Boards
Single and Double Wall Boards
Corrugated Cartons in various styles(RSC, HSC, CSSC, Interior Forms, MRS, Trays, and Wrap-Around)
Slipsheets
Separator Sheets
Coslock (Carton Divider)
Carrier Bags

FLEXIBLES
Sachets
Stand Up Pouches (SUPs)
Generic Ziplock SUPs
PVC Shrink Labels
Retortable Pouches
Vacuum Metalized Laminates
Stretch Wrap
Shrink Film
CurvichéPOLYETHYLENE TEREPHTHALATE (PET)PET Preforms
PET Bottles

OTHER PACKAGING PRODUCTS
Radiant Barrier (Envirotuff)
Medical Protector or PRIMERA(Caps, Gowns, Masks, Surgical Gowns, etc.)
Woven Products
Sacks (Woven or Paper)
Tonner Bags
Plastic Films(CPP, BOPP, Metallized Films and Special Films)

SERVICES
Crate and Pallet Leasing
Packaging Research and Development
Logistics Services
Beverage Filling & Bottling
RTD Beverage Formulation
Trading

San Miguel Properties, Inc. and Subsidiaries
List of Projects
as of December 31, 2023
A. RESIDENTIAL PROJECTSNAMEDover Hill (Bright Ventures Realty, Inc.)One Dover View (Carnell Realty, Inc.)
Two Dover View (SMPI)
Emerald 88 (SMPI)Bel Aldea (SMPI)
Maravilla (SMPI)
Asian Leaf (SMPI)
Wedgewoods (Excel Unified Land Resources,
Inc.)

LOCATION
Mabini Street corner Ortega and Pilar Streets,
Barangay Addition Hills, San Juan
621 Lee Street, Barangay Addition Hills,
Mandaluyong
620 Lee Street, Barangay Addition Hills,
Mandaluyong
598 Dr. Sixto Antonio Avenue, Barangay
Maybunga, Pasig
Brgy. De Fuego Street, General Trias, Cavite
Brgy. San Francisco, General Trias, Cavite
Brgy. San Francisco, General Trias, Cavite
Brgy. Inchican, Silang, Cavite

B. HOSPITALITY PROJECTSNAME
Makati Diamond Residences(SMPI Makati Flagship Realty Corporation)

LOCATION
118 Legazpi St., Legazpi Village, Makati

C. INDUSTRIAL PROJECTSNAMEMariveles Economic Zone
(E-Fare Investment Holdings, Inc.)

LOCATION
Mariveles, Bataan

D. SMPI-OWNED BUILDINGS / LAND / WAREHOUSENAME
Building and Land Lease of San MiguelCorporation Head Office Complex (SMPI)
Building Lease of Six (6) Units in San Miguel
Properties Centre (SMPI)
Building Lease of 808 Building (SMPI)
Warehouse Lease of Rengo Warehouse andLand Lease of Sucat Property (SMPI)Land Lease of Antipolo City Property (SMPI)Land Lease of General Trias, Cavite Property(SMPI)
Land Lease of Bunawan, Davao City Property(SMPI)
Land Lease of Darong, Davao City Property(SMPI)

LOCATION
No. 40 San Miguel Avenue, Ortigas,
Mandaluyong City
No. 7 Saint Francis Street, Ortigas,
Mandaluyong City
Meralco Avenue corner Gen. Lim Street,
Barangay San Antonio, Pasig City
Dr. A. Santos Avenue (Sucat Road), Parañaque
Crestview Circle, Crestview Heights Subd.,
Brgy. San Roque, Antipolo City
Arnaldo Highway, Brgy. San Francisco, Sitio De
Fuego, Gen. Trias, Cavite
Along Davao-Agusan National Highway, Brgy.
Bunawan, Davao City
Brgy. Darong, Municipality of Sta. Cruz, Davaodel SurLand Lease of San Jose Patag, Sta. Maria,
Bulacan Property (SMPI)Land Lease of Mariveles, Bataan properties(E-Fare Investment Holdings, Inc.)
Land Lease of Cabuyao, Laguna Property(Integrated Geosolutions, Inc.)
Land Lease of Parking Space for El Magnifico
Building (Kingsborough Realty, Inc.)
Building Lease of Delgado Building (LaVerduras Realty Corp.)

San Jose Patag, Sta. Maria, Bulacan
Mariveles Economic
Mariveles, Bataan

Zone,

Biaan,

Brgy. Diezmo, Cabuyao, Laguna
No. 37 Gen. Delgado St., San Antonio Village,
Brgy. San Antonio, Pasig City
No. 38 Gen. Delgado St., San Antonio Village,
Brgy. San Antonio, Pasig City

E. TOURISM DEVELOPMENT PROJECTSNAME(Planned) Bugsuk Eco-Luxury Leisure andTourism Project (Bricktree Properties, Inc.)

Brgy.

LOCATION
Balabac, Palawan

SAN MIGUEL CORPORATION
2023 LIST OF CEMENT PRODUCTS
EAGLE CEMENT CORPORATION GROUP
A. CEMENTType 1T
Advance Portland Blended Cement Type 1T (in 40-kg bag)Exceed Portland Blended Cement Type 1T (in 40-kg bag)
Maxplus Portland Blended Cement Type 1T (in 40-kg bag)Type 1P
Advance Portland Blended Cement Type 1T (in 40-kg bag)Exceed Portland Blended Cement Type 1T (in 40-kg bag)Type I
Strong Cem Portland Cement Type 1 (in tonner bag and in bulk)
B. MINERALS
Limestone
Shale
Pozzolan

NORTHERN CEMENT CORPORATION
A. CEMENTType 1T
Maxplus Blended Cement Type 1T (in 40-kg bag)
Maxpro Blended Cement Type 1T (in tonner bag and in bulk)
Solid North Blended Cement Type 1T (in 40-kg bag)Type N
Master Palitada Masonry Cement Type N (in 40-kg bag)Type 1
Supreme Portland Cement Type 1 (in 40-kg bag, in tonner bag and in bulk)

SOUTHERN CONCRETE INDUSTRIES CORP
A. CEMENTType 1T
SMC Davao Cement (in 40-kg bag/ in Sling bag/ in Tonner bag/ in Bulk)
SMC Pacific Cement (in 40-kg bag/ in Sling bag)Type 1
Southern Cement (in 40-kg bag/ in Sling bag/ in Tonner bag/ in Bulk)

ANNEX “F”

SAN MIGUEL CORPORATION
LIST OF COLLECTIVE BARGAINING AGREEMENTS

COLLECTIVE BARGAINING AGREEMENTS
As of Dec. 31, 2023
BANK OF COMMERCE
Installation, Bargaining Agent & Affiliation
Bank of Commerce Employees Union

EXPIRATION

Number ofMembers

Number of CBAs

781

1

Economic

Representation

June 30, 2025

June 30, 2025

GINEBRA SAN MIGUEL INC.
EXPIRATION

Number ofMembers

Number of CBAs

GSMI - Mandaue Plant (Dailies)
Ginebra San Miguel Inc. - Employees Union FREEWAS(GSMI-EU-FREEWAS Chapter) - Mandaue Plant

26

GSMI - Cabuyao Plant (Dailies)
United Independent Union of GSMI-Cabuyao Plant

Installation, Bargaining Agent & Affiliation

Economic

Representation1

December 31, 2024

December 31, 2023

961

December 31, 2023

December 31, 2027

GSMI - Sta Barbara Plant (Dailies)
Daily Paid Workers Independent Union

87

1

December 31, 2025

December 31, 2026

GSMI - Sta Barbara Plant (Monthlies)
La Tondeña Distillers Independent Workers Union (LATODIWU)

20

1

December 31, 2025

Distilleria Bago Inc. (Monthlies)
Congress of Independent Organization - Distileria Bago Employees Union (CIO - DBEU)

93

1

December 31, 2025

322

5

Total

March 31, 2022

December 31, 2026

PETRON CORPORATION
Expiration

Number ofMembers

Number of CBAs

Petron Corporation (Head Office Complex, Depots) - Petron Employees Association (PEA NATU)

174

Petron Corporation (Pandacan, Navotas and Batangas) - Petron Employees Labor Union(PELU)Petron Corporation (Bataan) - Bataan Refiners Union of the Philippines (BRUP - PTGWO)

Installation, Bargaining Agent & Affiliation

Economic

Representation1

December 31, 2025

December 31, 2027

38

1

December 31, 2024

December 31, 2026

344

1

December 31, 2024

December 31, 2024

556

3

SAN MIGUEL BREWERY INC.
Expiration

Number ofMembers

Number of CBAs

Concerned Workers of SMC – Polo Brewery

250

SMBI Employees Union (SMBIEU) – PTGWO (Monthlies – Polo)

Installation, Bargaining Agent & Affiliation

Economic

Representation

1

June 30, 2025

July 12, 2025

85

1

June 30, 2025

June 30, 2024

San Fernando Brewery Employees Union (SFBEU) –( Dailies)

301

1Feb. 15, 2026

Feb. 15, 2025

San Miguel Brewery Inc. Employees Union (SMBIEU-SFB)-Monthlies

921Dec. 31, 2025

Dec. 31, 2024

GMA-Monthlies Employees Union – GMAEU-PTGWO

00

San Miguel Brewing Group - Bacolod Brewery Employees Union (SMBG-BBEU) (Dailies)

97

1

July 31, 2025

Apr. 27, 2024

Philippine Agricultural, Commercial and Industrial Workers Union-Trade Union Congress of
the Philippines (PACIWU-TUCP) (Bacolod Monthlies)

48

1

Oct. 31, 2025

Oct. 31, 2023

Kahugpongan Sa Ligdong Mamumu-O (KLM) (Dailies) (Mandaue)

199

1

Dec. 31, 2026

Dec. 31, 2025

San Miguel Davao Brewery Employees Independent Union (Dailies)***117

1Nov. 30, 2024

Nov. 30, 2022

1189

8

DISSOLVED (June 30, 2022)

SAN MIGUEL FOOD GROUP
Expiration

Number ofMembers

Number of CBAs

Magnolia Inc. (Dailies) Progressive Workers' Union - IBM Local 47 KMU (PWU- IBM KMU)

94

San Miguel Foods Inc. (GMA Monthlies)- SMFI Employees Union (SMFIEU) - PTGWO

Installation, Bargaining Agent & Affiliation

Economic

Representation1

February 28, 2026

February 28, 2025

1101

December 31, 2025

October 22, 2026

San Miguel Foods Inc. - South Luzon SMFI Poultry (Monthlies) - Magnolia Poultry Employees
Union - PTGWO

23

1

December 31, 2025

June 30, 2026

San Miguel Mills, Inc. - Mabini Batangas Flour Mill Employees Union (Monthlies) - Purefoods
Flour Mill Employees Union - (PFMEU)

41

1

December 31, 2025

July 31, 2027

268

4

SMC INFRASTRUCTURE
Expiration

Number ofMembers

Number of CBAs

Manila North Harbor Port Inc. (Dailies & Monthlies)- Waterfront Workers Union - North Harbor
Inc. (WWU-NH)

646

Star Tollway Corporation (Monthlies) - Star Tollway Corporation Toll Teller Employees
Association (STCTTEA)

Installation, Bargaining Agent & Affiliation

Economic

Representation

1

January 31, 2026

January 31, 2028

170

1

July 31, 2024

July 31, 2026

Star Tollway Corporation (Monthlies) - Star Tollway Corporation Supervisory Employees
Association - Workers Solidarity Network (STCSEA-WSN)

38

1April 30, 2025

April 30, 2027

Manila Toll Expressway Systems Inc. (Monthlies) - Malayang Samahan ng Toll Tellers sa
MATES - Workers Solidarity Network (MSTM-WSN)

608

1

December 31, 2026

December 31, 2028

Manila Toll Expressway Systems Inc. (Monthlies) - Obrero Pilipino - SLEX Manila Toll
Expressway Systems (Traffic Department) Chapter

95

0

Awaiting start of 1st
CBA negotiation

March 23, 2027

1557

4

SAN MIGUEL YAMAMURA PACKAGING CORPORATION
EXPIRATION

Number ofMembers

Number of CBAs

65

San Miguel Yamamura Packaging Corporation - Manila Plastics Plant(Ex-Parent) (Monthlies)
San Miguel Packaging Specialists, Inc Employees Union Manila Plastics Plant - PTGWO Local 888

Installation, Bargaining Agent & Affiliation

ECONOMIC

REPRESENTATION

1

Dec. 31, 2024

Dec. 31, 2023
(On-going renewal of
Cert. of Reg.)57

1

June 30, 2025

June 30, 2027

San Miguel Yamamura Packaging Corporation - Manila Glass Plant(Ex-Parent) (Monthlies)
San Miguel Yamamura Packaging Corp. Employees Union - Manila Glass Plant - Associationof Genuine Labor Organization(SMYPCEU-MGP-AGLO)

123

1

June 30, 2025

June 30, 2028

San Miguel Yamamura Packaging Corporation - Metal Closure & Lithography Plant (Ex-Parent) (Monthlies)
San Miguel Packaging Specialists, Inc Employees Union - Metal Closure & Lithography Plant PTGWO Local 890

191June 30, 2025

June 30, 2027

SMC Yamamura Fuso Molds Corporation (Monthlies)- SMC Yamamura Fuso Molds Monthlies Union - PTGWO
PTGWO Local Chapter 842

#Mindanao Corrugated Fireboard, Inc.
(Monthlies)
Mincorr Independent Workers Union - Alliance of Progressive Labor - Sentro ng mga
Nagkakaisa at Progresibong Manggagawa(MIWU-APL-SENTRO)

Dec. 31, 2025

41

1

89

1

San Miguel Yamamura Packaging Corporation - SMY Glass Plant (Monthlies) Union Buo
Organisadong Samahan ng Empleyado sa SMYAC - Independent (BOSES-SMYAC)

359

1

Rightpak International Corporation (Monthlies) - Independent Rightpak Employees Union

120

1

May 31, 2025

May 31, 2025

San Miguel Yamamura Packaging Corporation - Mandaue Packaging Plants (Glass,
MCLP, Power) (Dailies) Kahugpong Sa Ligdong Mamumuo - SMPSI Mandaue (KLM-SMPSI

37

1

Dec. 31, 2026

Dec. 31, 2025

244

1

June 30, 2025

June 30, 2028

1,154

10

5,827

35

Can Asia, Inc. - (Monthlies)
San Miguel Yamamura Packaging Corporation - Can Asia, Inc . (Independent Union)

San Miguel Yamamura Packaging Corporation - Logistics Services (Dailies) San Miguel
Yamamura Logistics Services Worker's Union (Independent)

TOTAL

Dec. 31, 2025

Dec. 31, 2025

Dec. 31, 2028

Dec. 31, 2024

April 01, 2028

ANNEX “G”

SAN MIGUEL CORPORATION
LIST OF TOP 20 STOCKHOLDERS
AS OF DECEMBER 31, 2023

ssst823
2024-04-01
05:42:18 PM

San Miguel Corporation
STOCK TRANSFER MODULE
List of Stockholders
As of Dec 31, 2023

PAGE

1

RANK
STOCKHOLDER NAME
CommonPreferred 2-F
Preferred 2-I
Preferred 2-J
Preferred 2-K
Preferred 2-L
Preferred 2-M
Preferred 2-N
Preferred 2-O
TOTAL SHARES% OF O/S-------- --------------------------------------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- -----------1 TOP FRONTIER INVESTMENT HOLDINGS, INC.
2 PCD NOMINEE CORPORATION (FILIPINO)
3 PRIVADO HOLDINGS, CORP.
4 GOVERNMENT SERVICE INSURANCE SYSTEM
5 PCD NOMINEE CORPORATION (NON-FILIPINO)
6 REPUBLIC OF THE PHILIPPINES
7 SOCIAL SECURITY SYSTEM
8 SGOC HOLDINGS CORPORATION
9 SAN MIGUEL BREWERY INC. RETIREMENT PLAN
10 TINCOBAR HOLDINGS CORPORATION
11 SAINT BRUNO HOLDINGS CORPORATION
12 CCJ HOLDINGS CORPORATION
13 LOCC HOLDINGS CORPORATION
14 JUAN BRUNO HOLDINGS OPC
15 THE INSULAR LIFE ASSURANCE COMPANY LTD.
16 PETRON CORPORATION EMPLOYEES' RETIREMENT PLAN
17 GREATER REUNION HOLDINGS INC.
18 MILLENNIUM ENERGY, INC.
19 SAN MIGUEL CORP. RETIREMENT PLAN FIP
20 SOCIAL SECURITY SYSTEM ASSIGNED TO MANDATORYPROVIDENT FUND

1,424,111,661
291,922,077
368,140,516
0118,078,699
27,636,339
01,512,89500000252,148
0
12,237,100
0
10,807,380
000
194,492,318
00
1,352,272
0
7,328,500
08,000,000
0
0
0
0
0
0
0
0
0
5,333,400
00150,226,560
001,360,120002,700,000
6,153,6000000450,000
00382,50002,900,000
00128,912,787
00799,8100
0
16,098,000
0
16,098,000
16,098,000
16,098,000
16,098,000
13,415,000
0011,402,750
0000180,587,665
002,367,585
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
161,171,490
00
1,787,0100001,333,400
0
0
0
0
0
0
0
0
0
0
0

0
0
0
133,333,330
0017,333,333
0
0
0
0
0
0
0
13,333,330
0000
7,999,999

091,702,090
00
1,560,410
0002,666,700
0
0
0
0
0
0
0
0
0
0
0

0
183,103,840
00572,3600002,000,000
0
0
0
0
0
0
0
0
0
0
0

1,424,111,661
1,382,118,827
368,140,516
133,333,330
127,878,266
27,636,339
24,661,833
20,310,895
20,153,700
16,098,000
16,098,000
16,098,000
16,098,000
14,117,148
13,333,330
12,237,100
11,785,250
10,807,380
8,233,400
7,999,999

36.953423 %35.863776 %9.552658 %3.459787 %
3.318237 %
0.717119 %0.639935 %
0.527035 %0.522956 %
0.417717 %
0.417717 %
0.417717 %
0.417717 %
0.366317 %
0.345979 %
0.317533 %
0.305808 %0.280434 %
0.213644 %0.207587 %--------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- --------------- -----------2,254,698,815
216,506,490
164,172,780
235,020,347
182,955,250
164,291,900
171,999,992
95,929,200
185,676,200
3,671,250,974 95.263098 %=============== =============== =============== =============== =============== =============== =============== =============== =============== =============== ============TOTAL NO. OF SHARES :TOTAL NO. OF DISTINCT STOCKHOLDERS :TOTAL NO. OF ACCOUNTS :3,853,801,780
33,61933,635

ANNEX “H”

SAN MIGUEL CORPORATION
LIST OF SEC FORM 17-C FILINGS

SAN MIGUEL CORPORATION - 17-C - 2023
Date
Jan. 26

Subject
We advise that, at the Regular Meeting of the Board of Directors of San Miguel Corporation(the "Corporation") held today, January 26, 2023, the Board of Directors of the Corporation
declared cash dividends to be paid out of the unrestricted retained earnings of the
Corporation as of December 31, 2022, distributable as dividends to all stockholders ofrecord as of March 21, 2023 on the following shares of the Corporation to be paid on April
4, 2023, as follows:
Class of Shares

Dividend Amount
per share

Series “2” Preferred Shares - Subseries “F”
Series “2” Preferred Shares - Subseries “I”

P1.27635
P1.18790625

Series “2” Preferred Shares - Subseries “J”

P0.890625

Series “2” Preferred Shares - Subseries “K”

P0.84375

The books of the Corporation will be closed from March 22, 2023 to March 28, 2023.

Jan. 27

March 7

March 9Disclosure of the Company with respect to the News Article entitled: “ERC says court denies
hold order vs its ruling In Sept.” posted in BusinessWorld (Online Edition) on January 27,
2023.,
Disclosure of the Company with respect to the news articles posted in various online sites.
In the attached news article entitled “San Miguel Holdings collars Cavite-Batangas
Expressway” posted in manilastandard.net on March 6, 2023.
We advise that, at the Regular Meeting of the Board of Directors of San Miguel Corporation(the "Corporation") held today, March 9, 2023, the Board of Directors of the Corporation
declared cash dividends on the common shares of the Corporation in the amount of P0.35
per common share.
The dividend payment date is on April 28, 2023, to be paid out of the unrestricted retained
earnings of the Corporation distributable as dividends as of December 31, 2022. Payment
shall be made to the stockholders of record of the aforementioned common shares as ofMarch 31, 2023. The books of the Corporation will be closed from April 3 to 12, 2023.

March 9In connection with the Regular Meeting of the Board of Directors of San Miguel Corporation(the "Corporation") held today, March 9, 2023, we disclose that the Board approved the reissuance and private placement of 270,000,000 Series “2” Preferred Shares from thetreasury shares of the Company. The terms and conditions of the issuance shall be inaccordance with the Amended Articles of Incorporation of the Company.
The Company shall make additional disclosures relating to the aforementioned private
placement upon the execution of the definitive agreements with the subscribers.

March 9

During the Regular Meeting of the Board of Directors of San Miguel Corporation (the"Corporation") held today, March 9, 2023, the Board of Directors unanimously approved theholding the stockholders’ meeting of the Company via remote communication on June 13,2023. The following are the other key dates relating to the annual stockholders meeting of
the Corporation:
2023 Annual Stockholders’ Meeting
Date of Annual Stockholders’ Meeting

Record Date for Stockholders Entitled to
Vote
Closing of Stock and Transfer Book
Deadline for Submission of Proxies
Validation of Proxies

June 13, 2023
2:00 p.m.
(via remotecommunication)
May 5, 2023
May 8 to 12, 2023
May 30, 2023
June 6, 2023

March 10Disclosure on Additional Information relating to Private Placement of 270M Series “2”Preferred Shares

March 13Disclosure of the Company with respect to the news article entitled “SMC Global set to issue$500m worth of securities” posted in manilastandard.net on March 12, 2023.

March 16

Press Release of the Company entitled: “SMC 2022 revenues up 60% to P1.5 trillion, top
pre-pandemic levels,” which we will release to the press today, March 16, 2023.

March 20
A.

The following are the disbursements of the Company from the net
proceeds of the offering of the Fixed-Rate Bonds Series “L”, Series “M” andSeries “N” (the “Offering”).

Date of
Disbursem
ent
20 March2023

Use of Proceeds

Details

Amount in Php

Final Redemption
and Payment ofSeries “E” FixedRate Bonds

Finalredemption
andpayment by the Company of
its Series “E” Fixed-Rate
Bonds
with
a
total
outstanding amount of
Php13,145,600,000.00 withan annual interest rate of
6.25%

Php13,145,600,000.00

TOTAL DISBURSEMENT IN THISREPORTTOTAL DISBURSEMENTS TODATEBALANCE OF NET PROCEEDS

13,145,600,000.00
41,929,600,000.00
Php17,395,081,412.45

The net proceeds of the Offering are computed as follows:
Gross Proceeds
Expenses related to the Offering
Net Proceeds

Php 60,000,000,000.00
Php 675,318,587.551
Php 59,324,681,412.45

March 20

Disclosure of the Company with respect to the news articles posted in various online sites.
In the attached news article entitled “SMC terminates 1,800-MW supply contracts with
Meralco” posted in Manila Bulletin (Online Edition) on March 18, 2023.

March 20

We advise that as of March 20, 2023, all of the Php13,145,600,000.00 Series E Fixed Rate
Peso Denominated Bonds (the “Bonds”) issued by San Miguel Corporation (the"Corporation") due on 2023 have fully matured. The principal investment amounts due on
the Bonds will be paid to the respective holders thereof in accordance with the relevantterms and conditions contained in the public offering subject of previous disclosures of the
Corporation.

March 23

Disclosure of the Company with respect to the news articles posted in various online sites,
article entitled “SMC, Batangas to build P45B expressway” posted in Malaya BusinessInsight (Online Edition) on March 23, 2023.

1

Expenses of the Offering include: (i) payment of filing fees with the SEC; and (ii) payments made to Philratings for
its rating fees and monitoring fees; (iii) underwriting fees; (iv) documentary stamp taxes to be paid by the Company;(v) PDEx listing application and maintenance fees; (vi), legal and other professional fees and other miscellaneous
expenses, and (vii) paying agency and trustee fees.

Disclosure of the Company with respect to the news articles posted in various online sites.
In the article under Biz Buzz column entitled “BIZ BUZZ: SMC’s P20-B ‘super bridge” posted
in Inquirer.net on April 27, 2023 “April 27

April 28

A. The following are the disbursements of the Company from the net proceeds of theoffering of the Fixed-Rate Bonds Series “L”, Series “M” and Series “N” (the“Offering”).
Date of
Disburseme
nt
28 April2023

Use ofProceeds

Details

Amount in Php

Payment of
Certain
U.S.-Dollar
Denominated
Obligations

Repayment of the
U.S.$300,000,000.00
facility
agreement
dated 22 June 2018,
betweentheCompany and MUFG
Bank, Ltd., Labuan
Branch as Facility
Agent and Original
Lender

Php17,395,081,412.45

TOTAL DISBURSEMENT IN
THIS REPORTTOTALDISBURSEMENTS
TO DATEBALANCEOFNETPROCEEDS

59,324,681,412.45
59,324,681,412.45
Php0.00

The net proceeds of the Offering are computed as follows:
Gross Proceeds
Expenses related to the Offering
Net Proceeds

Php 60,000,000,000.00
Php 675,318,587.552
Php 59,324,681,412.45

B. With the disbursements made in this disclosure, the proceeds of the Offering havebeen fully disbursed, and no further disclosures will be made relating to the useof proceeds of the Offering.

2

Expenses of the Offering include: (i) payment of filing fees with the SEC; and (ii) payments made to Philratings for
its rating fees and monitoring fees; (iii) underwriting fees; (iv) documentary stamp taxes to be paid by the Company;(v) PDEx listing application and maintenance fees; (vi), legal and other professional fees and other miscellaneous
expenses, and (vii) paying agency and trustee fees.

May 11

We advise that at the Regular Meeting of the Board of Directors of San Miguel Corporation (the"Corporation") held today, May 11, 2023, the Board of Directors of the Corporation declared cash
dividends to be paid out of the unrestricted retained earnings of the Corporation as of March 31,
2023, distributable as dividends to all stockholders of record as of June 21, 2023 on the following
shares of the Corporation to be paid on July 5, 2023, as follows:
Class of Shares
Series “2” Preferred Shares - Subseries “F”
Series “2” Preferred Shares - Subseries “I”
Series “2” Preferred Shares - Subseries “J”
Series “2” Preferred Shares - Subseries “K”

Dividend Amount per
share
P1.27635
P1.18790625
P0.890625
P0.84375

The books of the Corporation will be closed from June 22 to 28, 2023.
May 12

We submit herewith copies of the Affidavits of Publications of the Notice of the Annual Stockholders
Meeting of the Corporation at the Manila Bulletin and The Philippine Star on May 9 and May 10,2023. The Agenda for the said meeting is indicated in the said Notice.

May 15Press statement of the Company entitled “SMC reports strong Q1 results, revenues up 9% toP346.7 billion,” which we will release to the press today, May 15, 2023.

June 13

We advise that, at the Regular Meeting of the Board of Directors of San Miguel Corporation (the"Corporation") held today, June 13, 2023, the Board of Directors of the Corporation declared cash
dividends on the common shares of the Corporation in the amount of P0.35 per common share.
The dividend payment date is on July 26, 2023, to be paid out of the unrestricted retained earningsof the Corporation distributable as dividends as of May 31, 2023. Payment shall be made to thestockholders of record of the aforementioned common shares as of June 30, 2023. The books of
the Corporation will be closed from July 3 to 7, 2023.

June 13

We advise that, at the Annual Stockholders' Meeting of San Miguel Corporation (the “Corporation”)
held today, June 13, 2023, the following were approved:
1.

Election of Directors

The following directors were duly elected by the stockholders of the Corporation:
Ramon S. Ang
John Paul L. Ang
Aurora T. Calderon
Joselito D. Campos, Jr.
Jose C. de Venecia, Jr.
Menardo R. Jimenez
Estelito P. Mendoza
Alexander J. PobladorErnesto M. Pernia
Iñigo Zobel
Ramon F. Villavicencio
Teresita J. Leonardo-De Castro – Independent Director
Reynato S. Puno – Independent Director
Margarito B. Teves – Independent Director
Diosdado M. Peralta – Independent Director

2.

Approval of Directors Fees for 2022

The stockholders of the Corporation approved the payment of Directors’ Fees for 2022
amounting to P72.39 Million.
3.

Appointment of External Auditors

The stockholders of the Corporation approved the appointment of the auditing firm of R.
G. Manabat & Co., CPAs as the External Auditor of the Corporation for the year 2023.

June 13

Please be informed that, at the Organizational Meeting of the Board of San Miguel Corporation(the “Corporation”) held on June 13, 2023, the following appointments were duly made:A.

By-law officers of the Corporation:
Ramon S. Ang-

Ferdinand K. Constantino
Virgilio S. Jacinto-

Mary Rose S. Tan-Vice Chairman, President andChief Executive Officer
Chief Finance Officer-Treasurer
General Counsel, Corporate Secretary
and Compliance Officer
Assistant Corporate Secretary

B.

Lead Independent Director:-

Reynato S. Puno

C.

Head- Internal Audit-

Ramon R. Bantigue

D.

Members of the Board Committees:
1.

Executive Committee
Ramon S. Ang
Menardo R. Jimenez
Estelito P. Mendoza
Iñigo Zobel

2.

-

MemberMemberMemberMemberAudit and Risk Oversight Committee
Margarito B. Teves
Teresita J. Leonardo-De Castro
Estelito P. Mendoza
Reynato S. Puno
Diosdado M. Peralta-

Chairman (Independent Director)
Member (Independent Director)
MemberMember (Independent Director)
Member (Independent Director)

3.

Corporate Governance Committee
Reynato S. Puno
Aurora T. Calderon
Menardo R. Jimenez
Margarito B. Teves
Diosdado M. Peralta

4.

-

Chairman (Independent Director)
MemberMemberMember (Independent Director)
Member (Independent Director)

Related Party Transactions Committee
Teresita J. Leonardo-De Castro Joselito D. Campos, Jr.
Alexander J. Poblador
Reynato S. Puno
Margarito B. Teves-

Chairman (Independent Director)
MemberMemberMember (Independent Director)
Member (Independent Director)

June 26

Disclosure of the Company with respect to the news articles posted in various online sites
on June 26, 2023 entitled “ERC asks SC to void decision halting power deal” posted in
BusinessWorld (Online Edition.

June 29

June 29 Further to our disclosure of June 26, 2023, please be advised that South PremierPower Corp. and San Miguel Energy Corp., through their counsels, have received today a
copy of a Petition for Certiorari dated June 22, 2023 filed by the Energy Regulatory
Commission with the Supreme Court to annul and set aside the January 25 and April 3, 2023
resolutions issued by the 13th Division of the Court of Appeals.

June 30

Disclosure of the Company with respect to the publication of news article in Manila Standard
entitled “SMC signs P100-b loan for MRT-7 project.

July 6

Please be informed that at the Regular Meeting of the Board of San Miguel Corporation (theCompany”) held on July 6, 2023, the Board approved the creation of the Company’s
Sustainability Committee and the appointment of its members, namely:
Chairperson:

Teresita L. De Castro

Members:

Aurora T. Calderon
Diosdado M. Peralta
Ernesto M. Pernia
Alexander J. Poblador

July 11

We advise that the Company received today, through Poblador Bautista Reyes Law Offices,
the counsel of record of San Miguel Energy Corp (“SMEC”) and South Premiere Power Corp.
(“SPPC”), a copy of the Joint Decision rendered by the 13th Division of the Court of Appeals,
dated June 27, 2023, granting the consolidated petitions for certiorari of SPPC and SMEC.
The dispositive portion of the Joint Decision states, as follows:“WHEREFORE, premises considered, the consolidated petitions of South
Premiere Power Corporation and San Miguel Energy Corporation are GRANTED.
With the grant of the petitions, judgment is hereby rendered:
1.

ANNULLING and SETTING ASIDE the Orders dated September
29, 2022 in ERC Case No. 2019-081 and ERC Case No. 2019-083
for having been issued with grave abuse of discretion amounting tolack or excess of jurisdiction;

2.

GRANTING the Joint Motions for Price Adjustment with Provisional
Authority and/or Interim Relief in ERC Case No. 2019-081 and ERC
Case No. 2019-083, without prejudice to any further requests forprice adjustments for June 2022 onwards (for SPPC, from June
2022 to January 25, 2023 [date of WPI] and for SMEC, from June
2022 to the date of the finality of this Joint Decision);

3.

DENYING SMEC’s Motion for Partial Reconsideration of the Court’sJanuary 13, 2023 Resolution and its application for the issuance ofa writ of preliminary injunction for being moot and academic;

4.

The writ of preliminary injunction issued in favor of SPPC is hereby
made permanent.

SO ORDERED.”
July 17Disclosure of the Company with respect to the news article entitled “MVP, RSA team up for
new tollway project” posted in philSTAR.com on July 17, 2023.

July 27

Disclosure of the Company with respect to the news article entitled “San Miguel, MPIC to
submit joint Tagaytay toll road offer in August” posted in Manila Standard.

July 28

Disclosure of the Company with respect to the news article entitled “Court overturns rulingon SMC’s stamp tax refund claim” posted in BusinessWorld (Online Edition) on July 27,2023.

August 3

We advise that, at the Regular Meeting of the Board of Directors of San Miguel Corporation(the "Corporation") held today, August 3, 2023, the Board of Directors of the Corporation
declared cash dividends to be paid out of the unrestricted retained earnings of the
Corporation as of June 30, 2023, distributable as dividends to all stockholders of record asof September 21, 2023 on the following shares of the Corporation to be paid on October 5,
2023, as follows:

Class of Shares
Series “2” Preferred Shares - Subseries “F”
Series “2” Preferred Shares - Subseries “I”
Series “2” Preferred Shares - Subseries “J”
Series “2” Preferred Shares - Subseries “K”

Dividend Amount per
share
P1.27635
P1.18790625
P0.890625
P0.84375

The books of the Corporation will be closed from September 22 to 28, 2023.
August 3

We advise that, at the Regular Meeting of the Board of Directors of San Miguel Corporation(the "Corporation") held today, August 3, 2023, the Board of Directors of the Corporation
approved the Sustainability Charter of the Sustainability Committee of the Corporation.

August 8

Press Release entitled “SMC H1 profits 18% to P23.3 billion”

August 23

Further to our disclosure on March 9, 2023, we advise that the Company issued today, 23
August 2023, 173,333,325 cumulative, non-voting, non-participating, non-convertible,
redeemable, peso-denominated Series 2-M preferred shares, with a par value of Php5.00
per share and at an offer price of Php75.00 per share, through a private placement (the“Private Placement”).
The proceeds from the Private Placement, amounting to approximately Php13 billion, will be
used for general corporate purposes. Subject to the compliance by the Company with therequirements of the Philippine Stock Exchange (“PSE”), the Series 2-M preferred shares are
expected to be listed on the Main Board of the PSE on 29 August 2023.

August 29

Further to our disclosure on August 23, 2023, we advise that the Series 2-M Preferred
Shares of the Company will be listed today, August 29, 2023, on the Main Board of thePhilippine Stock Exchange. Attached hereto are copies of the Certificate of Filing of Enabling
Resolution, dated August 17, 2023, issued by the Securities and Exchange Commission andthe Terms and Conditions of the Series 2-M Preferred Shares, respectively.

August 29

Disclosure of the Company with respect to the news articles posted in various online sites
on August 28, 2023. In the news article entitled “SMC tollway unit hikes 2023 capex” posted
in manilatimes.net.

September 1

Amended Disclosure on the Issuance of Series 2-M Preferred Shares (Copy of theCertificate of Filing of Enabling Resolution).
The Certificate of Filing of Enabling Resolution (the “Certificate”) was received by theCompany on August 22, 2023 and filed with the Listings Department of the Exchange on thesame day, in connection with the listing application of the Company for the Series 2-M
Preferred Shares. As requested by the Listings Department, the Company appended a copyof the Certificate in its disclosure of August 29, 2023. The Company is also re-submitting a
copy of the Certificate, together with the Terms and Conditions (the “Terms”) as, due to
inadvertence, the version submitted to the Exchange was not the same version filed with the
Securities and Exchange Commission. Kindly refer to: (i) the Subscription Date and Listing
Date appearing in page 1 and (ii) the schedule of the number of shares or total number of
securities outstanding and the address of the Stock and Transfer Agent reflected in page 6,of the Terms, respectively.

Sept. 7

We advise that, at the Regular Meeting of the Board of Directors of San Miguel Corporation(the "Corporation") held today, September 7, 2023, the Board of Directors of the Corporation
declared cash dividends on the common shares of the Corporation in the amount of P0.35
per common share.
The dividend payment date is on October 27, 2023, to be paid out of the unrestricted retained
earnings of the Corporation distributable as dividends as of August 31, 2023. Payment shallbe made to the stockholders of record of the common shares as of October 6, 2023. The
books of the Corporation will be closed from October 9 to 13, 2023.

Sept. 7

During the Regular Meeting of the Board of Directors of San Miguel Corporation (the"Corporation") held today, September 7, 2023, we disclose that the Board of the Directors
authorized the following, namely:(a) the shelf registration of approximately up to Php65,000,002,500.00 billion worth ofSeries "2" Preferred Shares, at an offer price of P75 per share, or up to 866,666,700
Series "2" Preferred Shares, to be issued for a period of three (3) years or such otherperiod as determined by Management;(b) the initial offering of approximately up to Php50,000,002,500.00 billion worth of Series"2" Preferred Shares, at an offer price of P75 per share, or up to 666,666,700 Series"2" Preferred Shares (the "Initial Offer Shares");(c) the filing of the appropriate Registration Statement and Prospectus with the Securities
and Exchange Commission; and(d) the filing of the listing application with the Philippine Stock Exchange for the Series"2" Preferred Shares.
For the purpose of implementing the actions referred to above, the Board has authorizedManagement to determine the other relevant terms and conditions of the public offering inaccordance with the market conditions as well as the engagement of the services ofunderwriters, advisors, legal counsels, stock and transfer agent, receiving agent/bank, andother parties as may be necessary, proper or desirable to effect the offering.

Sept. 12

Please be advised that the Company submitted to the Securities and Exchange
Commission (SEC) a copy of the Registration Statement (SEC Form 12-1) with thePreliminary Prospectus for the Shelf Registration in the Philippines of up to 866,666,700
Series 2 Preferred Shares to be offered within a period of three (3) years and the Offer
Supplement for the Public Offering of 400,000,000 Series 2 Preferred Shares with an
Oversubscription Option of up to 266,666,700 Series 2 Preferred Shares.
A copy of the Preliminary Prospectus and Offer Supplement can be viewed athttps://www.sanmiguel.com.ph/disclosures/smc-65-billion-shelf-registration-and-publicoffering-of-series-2-preferred-shares.

Sept. 15

Disclosure of the Company with respect to the news article entitled “SMC, MIAC keen on
Naia rehab deal” posted in Inquirer.net on September 15, 2023.

Sept. 22

Disclosure of the Company with respect to the news articles posted in various online sites
on September 22, 2023. In the attached news article entitled “SMC power unit investors
warned” posted in Daily Tribune (Online edition).

Oct. 13

We are submitting to the Exchange a copy of the Certificate of Filing of the Enabling
Resolution which we received today, October 13, 2023, from our external counsel, Picazo,
Buyco, Tan, Fider & Santos Law Offices, issued by the Securities and Exchange
Commission (SEC) in connection with the offer and sale of up to 866,666,700 Series 2
Preferred Shares of the Company (the “Offer”). The Offer is pending registration with andissuance of the relevant Permit to Sell by the SEC. A copy of the Certificate of Filing is
attached.
The Company will provide further updates on the Offer, including the issuance of the Orderof Effectivity and Permit to Sell by the SEC.

Oct. 20

Disclosure of the Company with respect to the news articles posted in various online sites
on October 19, 2023, concerning San Miguel Corporation (“SMC”):
1. “SMC signs deal on 76.8-km. Pangasinan Link Expressway” posted inmanilastandard.net.

2.

Oct. 23“SEC okays P100-B SMC, Vista Land public offerings” posted in Daily Tribune(Online edition).:Disclosure of the Company with respect to the news article entitled “Rivals to allies: Ramon
Ang to invest in MVP-led Metro Pacific” posted in Inquirer.net on October 23, 2023.

Nov. 8Disclosure of the Company with respect to the news articles posted in various online sites on
November 8, 2023, entitled “MPIC eyes more tie-ups with SMC” posted in Malaya BusinessInsight (Online Edition) on November 8, 2023.

Nov. 8

Please see attached disclosure of the Company relating to the Shelf Registration of Series
2-L, 2-N, 2-O Preferred Shares of the Company.

Nov. 9We advise that, at the Regular Meeting of the Board of Directors of San Miguel Corporation(the "Corporation") held today, November 9, 2023, the Board of Directors of the Corporation
declared cash dividends to be paid out of the unrestricted retained earnings of the
Corporation as of September 30, 2023, distributable as dividends to all stockholders ofrecord as of December 21, 2023 on the following shares of the Corporation to be paid on
January 4, 2024, as follows:

Class of Shares
Series “2” Preferred Shares - Subseries “F”
Series “2” Preferred Shares - Subseries “I”
Series “2” Preferred Shares - Subseries “J”
Series “2” Preferred Shares - Subseries “K”
Series “2” Preferred Shares - Subseries “M”

Dividend Amount per
share
P1.27635
P1.18790625
P0.890625
P0.84375
P1.5703125

The books of the Corporation will be closed from December 22, 2024 to2023.

Nov. 10December 29,

The Company is submitting to the Exchange a copy of the Order dated 09 November 2023
issued by the Securities and Exchange Commission for the shelf registration of up to866,666,700 Series “2” Preferred Shares, and the corresponding Permit to Sell for the initialtranche consisting of up to 666,666,700 Series “2” Preferred Shares consisting of a base offer
of 400,000,000 Series “2” Preferred Shares with an oversubscription option of up to266,666,700 Series “2” Preferred Shares, to be issued in Subseries “2-L”, “2-N” and “2-O”.
The

Final

Shelf

Prospectus

and

the

Offer

Supplement

can

be

viewedat:https://www.sanmiguel.com.ph/disclosures/smc-65-billion-shelf-registration-and-publicoffering-of-series-2-preferred-sharesNov. 13

Press Release entitled: "SMC's nine-month profit more than doubles to P31.2 billion"

Nov. 16Disclosure of the Company with respect to the news articles posted in various online sites on
November 16, 2023, article entitled “BIR wins tax case versus San Miguel” posted inmanilatimes.net.

Nov. 23

In accordance with the provisions of the Audit and Risk Oversight Committee Charter (the“Charter”) of the Company adopted on August 13, 2012 and in compliance with SEC
Memorandum Circular No. 4, Series of 2012 (the “Memorandum Circular”), we advise thatthe results of the self-assessment of the members of the Audit and Risk OversightCommittee for the year 2023, are as follows:
Under the category “Quality and integrity of the Company’s financial statements and financial
reporting process,” with the rating of 5 being the highest and 1 being the lowest, the averagerating given by the five members of Audit and Risk Oversight Committee (the “Committee”),
was 4.76. For this category, there were 5 questions based on the Charter.
Under the category, “Effectiveness of the Company’s internal control systems,” the averagerating given by the members of the Committee was 4.68. For this category, there were 16
questions based on the Charter.
Under the category, “Independence and performance of its internal and external auditors,”
the average rating given by the members of the Committee was 4.68. For this category,there were 16 questions based on the Charter.
Under the category, “Compliance by the Company with accounting standards, legal andregulatory requirements, including the Company’s disclosure policies and procedures,” theaverage rating given by the members of the Committee was 4.6 For this category, there
were 3 questions based on the Charter.
Under the category, “Evaluation of management's process to assess and manage theCompany's enterprise risk issues,” the average rating given by the members of theCommittee was 4.7. For this category, there were 6 questions based on the Charter.

Dec. 1

We advise that the Company issued today, 01 December 2023, 453,333,400 cumulative,
non-voting, non-participating, non-convertible, redeemable and re-issuable Series 2-L,
Series 2-N and Series 2-O preferred shares, with a par value of Php5.00 per share and at
an offer price of Php75.00 per share (the “Offer Shares”). The Offer Shares were also listed
today, 01 December 2023, on the Main Board of the Philippine Stock Exchange.

Dec. 1

A. The following are the disbursements of the Company from the net proceeds ofthe offering of Series “2-L”, Series “2-N” and Series “2-O” Preferred Shares(the “Offering”).
Date of
Disbursem
ent01
December
2023

Use of Proceeds

Details

Amount in Php

Repayment ofPhilippine Pesodenominated ShortTerm Loan
Facilities

Payment
ofPhp600
million short-term loan
facilitywith
BDO
Unibank, Inc.
Payment of Php6.450
billion short-term loan
facility with Land Bank of
the Philippines

Php600,000,000.00

TOTAL DISBURSEMENT IN THISREPORTTOTAL DISBURSEMENTS TODATEBALANCE OF NET PROCEEDS

6,450,000,000.00

Php7,050,000,000.00
7,050,000,000.00
26,880,369,170.27

The net proceeds of the Offering are computed as follows:
Gross Proceeds
Expenses related to the Offering
Net Proceeds4

Php 34,000,005,000.00
Php 69,635,829.733
Php 33,930,369,170.27

A. The following are the disbursements of the Company from the net proceedsof the offering of Series “2-L”, Series “2-N” and Series “2-O” Preferred
Shares (the “Offering”).

Dec. 4

Date of
Disbursement
04 December
2023

Use ofProceeds
Repaymentof Philippine
Pesodenominated
Short-Term
Loan
Facilities

Details

Amount in Php

Payment of Php1.5
billion short-term loan
facility with Bangkok
Bank Public Company
LimitedPayment of Php4.7
billion short-term loan
facilitywith
BDO
Unibank Inc.
Payment of Php1.75
billion short-term loan
facility with Land Bankof the Philippines
Payment of Php850
million short-term loan
facility with Metropolitan
Bank & Trust Company
Payment of Php750
million short term loan
facility with Philippine
Trust Company

Php1,500,000,000.00

TOTAL DISBURSEMENT IN
THIS REPORTTOTAL DISBURSEMENTS TODATEBALANCEOFNETPROCEEDS

4,630,000,000.00

1,750,000,000.00

850,000,000.00

750,000,000.00

Php9,480,000,000.00
16,530,000,000.00
17,400,369,170.27

3

Expenses of the Offering include: (i) payment of filing fees with the SEC and PSE; and (ii) other miscellaneous fees
(i.e., expenses for publication, marketing and other out-of-pocket expenses).
Other fees of the Offering including: (i) underwriting and selling fees; (ii) legal and other professional fees, (iii) taxes
to be paid to the BIR; and (iii) stock transfer service fees and lodgment fees. Such other fees will be reported on actual
disbursement.
4

To be adjusted as and when fees of the Offering are disbursed.

The net proceeds of the Offering are computed as follows:
Gross Proceeds
Expenses related to the Offering
Net Proceeds6

Dec. 7

Php 34,000,005,000.00
Php 69,635,829.735
Php 33,930,369,170.27

In connection with the Regular Meeting of the Board of Directors of San Miguel Corporation(the "Corporation") held on December 7, 2023, we disclose that the Board declared cash
dividends for Common Shares at P0.35 per share. The cash dividends are payable on
January 26, 2024 to all common stockholders of record as of January 5, 2024. The stockand transfer books of the Corporation will be closed from January 8 to January 12, 2024.
The dividends shall be paid out of the unrestricted retained earnings of the Company
distributable as dividends as of October 31, 2023.

Dec. 27

Disclosure of the Company with respect to the news article entitled “SMC set to finish 32
battery energy storage systems” posted in manilastandard.net on December 24, 2023.

Dec. 27

A. The table below details the updated computation of the net proceeds of theoffering of Series “2-L”, Series “2-N” and Series “2-O” Preferred Shares (the“Offering”).
Gross Proceeds
Expenses related to the Offering7
Net Proceeds8
Total Disbursements as of December 4, 2023
BALANCE OF NET PROCEEDS5

Php 34,000,005,000.00
Php 281,212,275.36
Php33,718,792,724.64
16,530,000,000.00
17,188,792,724.64

Expenses of the Offering include: (i) payment of filing fees with the SEC and PSE; and (ii) other miscellaneous fees
(i.e., expenses for publication, marketing and other out-of-pocket expenses).
Other fees of the Offering including: (i) underwriting and selling fees; (ii) legal and other professional fees, (iii) taxes
to be paid to the BIR; and (iii) stock transfer service fees and lodgment fees. Such other fees will be reported on actual
disbursement.
6
To be adjusted as and when fees of the Offering are disbursed.
7
Expenses of the Offering include: (i) payment of filing fees with the SEC and PSE; (ii) underwriting and sellingfees; and (iii) other miscellaneous fees (i.e., expenses for publication, marketing and other out-of-pocket expenses)
8

To be adjusted as and when fees of the Offering are disbursed.

ANNEX “I”

SAN MIGUEL CORPORATION
Sustainability ReportSan Miguel Corporation
2023 Sustainability Report
1 About the Report............................................................................................................................. 3
1.1 Scope and Coverage ............................................................................................................................ 3
1.2 Reporting Frameworks and Standards ................................................................................................ 3
1.3 Contact Information............................................................................................................................ 4
2 Message from the President and CEO .............................................................................................. 5
3 About San Miguel Corporation ........................................................................................................ 7
3.1 Company Overview ............................................................................................................................. 7
3.2 Our Businesses .................................................................................................................................... 8
3.3 Awards and Recognitions .................................................................................................................. 13
4 Our Stakeholders .......................................................................................................................... 15
4.1 Stakeholder Engagement .................................................................................................................. 15
A. Stakeholder Groups ..................................................................................................................... 15
5 Our Approach to Sustainability ....................................................................................................... 20
5.1 Our Materiality Process .................................................................................................................... 20
A. Topics Material to Our Business .................................................................................................. 20
5.2 Our ESG Data Collection Process ...................................................................................................... 21
5.3 Our Sustainability Governance Structure ......................................................................................... 22
A. Our Board Sustainability Committee ........................................................................................... 23
6 Our Sustainability Blueprint ........................................................................................................... 24
6.1 Our Sustainability at a Glance ........................................................................................................... 24
6.2 A Blueprint for San Miguel ................................................................................................................ 25
6.3 Our Sustainability Agenda................................................................................................................. 27
6.4 Our Sustainability Goals .................................................................................................................... 29
A. Major Milestones for Our Goals .................................................................................................. 30
7 Kalikasan: Good for Planet............................................................................................................. 36
7.1 Climate Change Action ...................................................................................................................... 36
A. Greenhouse Gas (GHG) Emissions ............................................................................................... 36
B. Our Scope 3 GHG Boundaries ...................................................................................................... 39
C. Non-GHG Emissions ..................................................................................................................... 40
7.2 Resource Management ..................................................................................................................... 41
A. Energy Management .................................................................................................................... 41
B. Water Management ..................................................................................................................... 44
7.3 Circular Economy .............................................................................................................................. 45
A. Materials Management................................................................................................................ 45
B. Waste Management..................................................................................................................... 46
7.4 Biodiversity and Ecosystems ............................................................................................................. 48
1

7.5 Our Climate-related Risk Management ............................................................................................ 50
8 Kalinga: Good for People ............................................................................................................... 52
8.1 Our Employees .................................................................................................................................. 52
A. Human Rights and Labor Practices .............................................................................................. 53
B. Employee Health and Safety ........................................................................................................ 54
C. Employee Engagement, Training, and Development .................................................................. 57
D. Diversity, Equity, and Inclusion .................................................................................................... 60
8.2 Our Customers .................................................................................................................................. 61
A. Customer Welfare and Responsibility.......................................................................................... 61
8.3 Our Communities .............................................................................................................................. 64
A. Community Engagement.............................................................................................................. 64
9 Kasaganahan: Good for Progress .................................................................................................. 67
9.1 Sustainable Supply Chain ................................................................................................................ 67
9.2 Business Ethics and Compliance ..................................................................................................... 68
9.3 Risk Management ........................................................................................................................... 69
9.4 Digital Transformation .................................................................................................................... 70
9.5 Data Privacy and Security ............................................................................................................... 72
10 Moving Forward Message ............................................................................................................ 74
11 Appendices ................................................................................................................................. 75

2

1 About the Report
At San Miguel Corporation (SMC, San Miguel, or the Company), our dedication to sustainability is
ingrained in all our business operations. Guided by our Sustainability Blueprint, we aim to reduce ourenvironmental footprint, promote social inclusion, and commit to building a stronger, more resilient, andglobally competitive company.
We are pleased to present the 2023 San Miguel Corporation Sustainability Report as a testament to our
long-term commitment to sustainability. This Report contains information on the environmental, social,and governance (ESG) performance topics identified as material to SMC’s businesses and stakeholders.
We recommend a side-by-side review of this Report with our 2023 Annual Report for a morecomprehensive understanding of the Company’s operations and impacts, which you may access throughthis link.

1.1 Scope and Coverage
GRI 2-2 | GRI 2-3

This Report provides detailed information on the consolidated ESG performance of SMC and key businessgroups from January 1 to December 31, 2023. The subsidiaries included in this Report were selectedbased on their scale of operations and SMC’s majority ownership interest, and level of operational
control.
This Report covers the ESG data of the following key businesses:
•
•
•
•
•
•
•

Food and Beverage
Packaging
Fuel and Oil
EnergyInfrastructure
CementOthers (as specified in “Our Businesses” section of the Report)

The Cement business expanded its coverage and now includes Eagle Cement Corporation and Southern
Concrete Industries, Inc. Please refer to the Appendices for a complete list of the subsidiaries covered bythis Report.

1.2 Reporting Frameworks and Standards
GRI 2-4 | GRI 3-1

Our approach in preparing and presenting this Report was based on the following frameworks:
The Philippine Securities and Exchange Commission Guidelines
We prepared this Report in compliance with the Philippine Securities and Exchange Commission
Memorandum Circular No. 4 Series of 2019, entitled “Sustainability Reporting Guidelines for Publicly
Listed Companies.” The reporting requirements include impacts, risks, opportunities, and Management’s
approach to addressing material ESG topics.
Global Reporting Initiative (GRI) Standards
We provided SMC’s disclosures with reference to the GRI Reporting Standards and ensured that thisReport aligns with GRI’s reporting principles. A GRI content index is found in the Appendices to help
readers navigate the information in this Report.
Sustainability Accounting Standards Board (SASB) Standards
We were guided by reporting principles in the SASB Standards and integrated globally applicable andsector-specific disclosures into our core communications. We based our SASB recommended disclosures3

on the following industry standards: SASB Containers and Packaging Standard, SASB Alcoholic Beverage
Standard, and SASB Processed Foods Standard.
We provided a SASB index in the Appendices to facilitate reference to SMC’s financial material
sustainability information.
Greenhouse Gas (GHG) Protocol
We were guided by the GHG Protocol’s Corporate Standard in accounting for and reporting SMC's
greenhouse gas emissions. We followed its principles to ensure that our GHG inventories accurately
represent our total 2023 emissions. By improving our understanding of our GHG emissions, we can better
manage our risks, identify reduction opportunities, and monitor our progress towards achieving our Net
Zero goal by 2050. We used the operational control approach to consolidate our GHG emissions.
SMC has started determining our Scope 3 or supply chain GHG emissions. Guided by the GHG Protocol
Corporate Value Chain (Scope 3) Accounting and Reporting Standard, we have begun the process ofidentifying which Scope 3 activities across our business units are expected to have the highest emissions,offer significant opportunities for emissions reduction, and are most relevant to our sustainability goals.
More details are found in the section on “Our Scope 3 Boundaries” in this Report.
Reporting Principles
Our Report subscribes to the following Reporting Principles:• Accuracy: We ensured that the qualitative and quantitative information provided in this Report isconsistent with all available data.
• Balance: We provided a fair and unbiased representation of SMC’s negative and positive impacts.
• Clarity: We presented clear information that readers with reasonable knowledge of SMC can easily
understand.
• Comparability: We outlined information to enable SMC and other readers to assess the Company’s
disclosures against our goals and targets. We also laid out information so external parties can easily
evaluate and benchmark our performance as part of rating activities, investment decisions, or
advocacy programs.
• Completeness: We included sufficient information on SMC’s present activities, events, and impacts
for the reporting period.
We have restated some of our 2022 ESG data based on improvements in our data collection process. All
material data restatements are noted below the relevant ESG data tables.

1.3 Contact Information
GRI 2-3

We value your comments and insights. Please address your feedback on this Report and any inquiries
on SMC’s sustainability initiatives to:
Corporate Sustainability Office
SMC Corporate Head Office
40 San Miguel Avenue, Mandaluyong City
1550 Metro Manila, Philippines
Telephone: (632) 8 632 3974
Email: cso@sanmiguel.com.phAttention: Rita Imelda B. Palabyab
Additional information on our sustainability performance is available on our sustainability microsite athttps://www.sanmiguel.com.ph/sustainability/.

4

2 Message from the President and CEO
GRI 2-22 | GRI 203-1 | GRI 203-2

A year into our ambitious sustainability blueprint, we are already making a growing and positive impact
on our business in terms of cost efficiency and resilience. At a time when more and more companies aretalking about sustainability and how it might tie into their core purpose, San Miguel has sought to define
how we work with others, how we interact with the environment and our communities, and ultimately,
the future we hope to create.
As a starting point, over the last year, we revisited our vision and core purpose statements—the building
blocks that reflect our corporate culture and direction—and sought to align those of our subsidiaries with
our vision to build a better Philippines where prosperity is widely shared, and every Filipino can reach hishighest aspirations.
Our newly created Corporate Sustainability Office has settled into its role, providing the additional rigor,
support, and challenge to ensure sustainability is top of mind among the estimated 50,000-strong San
Miguel family. Employees for whom sustainability is not a full-time role or who have recently been given
responsibility to study and address the issues, have embraced this new mindset with much enthusiasm.
We have seen colleagues from various departments contributing to our sustainability agenda, including
logistics, manufacturing, procurement, and human resources. They have moved beyond ad-hoc andproject-based activities, pursuing long-term impact by engaging in strategic and collaborative activities.
It is heartwarming to see how everyone, regardless of their role in the corporation, believes they can playa part in making a positive impact on customers, co-workers, shareholders, and society throughsustainable practices.
Many of the capstone projects in our management leadership programs now seek solutions to water
scarcity, identify and adopt processes that use less energy and fewer materials, circular approaches, andeven social inclusion. Today, sustainability is a common thread in many of our employees' day-to-day
projects and initiatives, and growing numbers are beginning to understand that San Miguel is responsible
for everything done in our name.
Over the last year, we have identified the issues that matter most to our company and stakeholders. We
have converged on agreed-upon priorities and developed clear milestones and key indicators for our four
sustainability goals: circularity, upliftment, governance, and net zero emissions. We are setting timebound metrics for each goal and creating a roadmap to which we will be accountable.
Climate change is the defining crisis of our time, happening much more quickly than we could have everanticipated. This will fundamentally change the shape of our business, causing us to reconfigure ourenergy, transportation, manufacturing, and food systems. From the resources we use, to how we make,sell, and move our products; engage with communities; to the expectations we set for our business
partners and suppliers—everything we do from this point onward forms part of the social andenvironmental legacy we hope to craft for ourselves.
In our inaugural report, we identified our Scope 1 and Scope 2 emissions and are finding ways todecarbonize our operations, from implementing energy efficiency measures, retrofitting our plants to
use more solar power, to continuing our transition to cleaner energy through additional Battery Energy
Storage System (BESS) facilities. While we are still gathering data on our Scope 3 GHG emissions, we havealready engaged our supply base by working to set metrics, arrive at shared terminology, and collect datafrom our biggest suppliers to allow us to understand better the impact of our products and processes.
We fully intend to share our progress across all reporting parameters based on the best available data,
and to improve our level of disclosure each year.
Our Tullahan river rehabilitation and flood mitigation project, which was launched in 2020, has since
expanded to the Pasig and San Juan Rivers and further north to Bulacan province, the site of ourinternational airport project. We are also extending rehabilitation efforts to neighboring river systems,
including the Pampanga River, Maragondon River and related tributaries in Cavite; waterways in Navotas
City and the San Pedro River in Laguna. As of March 2024, SMC’s river clean-up program has removed
over 5.7 million tons of waste from approximately 90 kilometers of river systems.
5

Alongside our environmental initiatives, we continue to roll out social impact projects, the newest ofwhich is Better World Smokey Mountain Pangarap Para sa Pamilya center. Our four Better World centersrepurpose idle, abandoned properties for community use, such as green space, learning, and healthcare
facilities. Through committed, long-term engagement, we encourage greater civic participation andcapacity and give the economically disadvantaged a voice in their community’s future.
Yet, there is a lot more that still needs to be done.
Indeed, the journey to becoming more sustainable is not straightforward for any organization,
particularly not for one as big and as diversified as ours. However, as one of the Philippines’ leading
conglomerates, we will set the standards that others follow because the big issues facing the world today,from climate change to social inequality, demand that businesses redefine their societal role.
We have always had a strong sense of social, environmental, and economic responsibility and anunderstanding that our success depends on the success of society at large. This is one of the core values
we live by. When our colleagues, customers, suppliers, or communities are in need, we help.
Today, we have a once-in-a-generation opportunity to help ensure future generations have the same, if
not better, opportunities than those at present. As San Miguel, we are determined to make a long-lasting,positive contribution to our country and the world we inhabit as a whole.

Ramon S. Ang
President and Chief Executive Officer

6

3 About San Miguel Corporation
3.1 Company Overview
GRI 2-1 | GRI 2-6 | GRI 203-1 | GRI 203-2

San Miguel Corporation is one of the largest and most diversified conglomerates in the Philippines interms of revenues and total assets. Its sales account for approximately 6.0% of the Philippine Gross
Domestic Product (GDP) in 2023, based on its consolidated revenues for the year, divided by the country’s
total revenue, as sourced from the Philippine Statistics Authority. Originally founded in 1890 as a singleproduct brewery, SMC has operated for over 130 years. Today, it owns market-leading businesses invarious key sectors, including Beverages, Food, Packaging, Fuel and Oil, Energy, Infrastructure, Cement,
Property Development and Leasing, Car Distributorship, Insurance and Banking services. SMC’s portfolioof companies is interwoven into the economic fabric of the Philippines, benefiting from and contributing
to the nation’s development and economic progress.
Through its core subsidiaries and extensive product portfolio, SMC has maintained long-standing
leadership positions in various categories, including in beer, spirits, non-alcoholic beverages (NAB),
poultry, animal feeds, flour, fresh and processed meats, dairy products, coffee, various packaging
products, and a full range of refined petroleum products. Moreover, SMC’s aggressive expansion into
growth industries such as power generation, cement, and infrastructure, has also led to its leadership inthese industries over the last decade.
The bulk of SMC’s operations are in the Philippines. It also has international operations, mainly in
Malaysia, Singapore, Australia, China, Indonesia, and Vietnam, and through exports, which collectively
contributed 29% of consolidated sales in 2023.
Through the decades, SMC’s traditional core businesses have sustained their market-leading positions,due in large part to continuous innovation, diligent product enhancement resulting from rigorous
consumer and market research, and meticulously planned marketing initiatives and brand-building
activities.
Since its business diversification program in 2007, SMC has also channeled much of its resources into
sectors that are crucial to Philippine economic growth and development. SMC maintains that its strategy
of continuous value creation through investing in nation-building projects, extracting synergies andefficiencies across its portfolio, and pushing for greater sustainability, redounds to a stronger financial
performance, wider access to capital, more growth opportunities, and resilience against economic
downturns and cyclical business challenges.
SMC is listed on the Philippine Stock Exchange (PSE Ticker: SMC), along with its publicly listed subsidiaries:
San Miguel Food and Beverage, Inc., Ginebra San Miguel Inc., and Petron Corporation.
SMC is headquartered in the San Miguel Corporation Head Office Complex, 40 San Miguel Avenue,
Mandaluyong City 1550. The company operates over 100 major facilities in the Philippines, Southeast
Asia, China, Australia, and New Zealand.

73.2 Our Businesses
GRI 2-1 | GRI 2-6 | GRI 203-1 | GRI 203-2

Food and Beverage
SMFB is a leading food and beverage company in the Philippines.
SMFB has three primary operating divisions—(i) Beer and Non-Alcoholic Beverages (NAB) through San
Miguel Brewery, Inc. (SMB) and its subsidiaries, (ii) Spirits through Ginebra San Miguel Inc. and its
subsidiaries, and (iii) Food and Animal Nutrition through San Miguel Foods, Inc. (SMFI) and its relatedcompanies. SMFB serves the Philippine archipelago through an extensive distribution and dealer networkand exports its products to about seventy (70) markets worldwide.
The brands under which SMFB produces, markets, and sells its products are among the most recognizable
in the Philippines, holding market-leading positions in their respective categories. These include San
Miguel Pale Pilsen, San Mig Light, and Red Horse for Beer, and Ginebra San Miguel and Vino Kulafu for
Spirits. Under its Food business: Magnolia for chicken, dairy, ice cream, flour mixes, and salad aids;
Monterey for fresh and marinated meats; Purefoods Tender Juicy for hotdogs; Purefoods for otherprocessed meats, ready-to-eat meals, and seafood line; Veega for plant-based protein products; Star andDari Crème for margarine, and B-Meg for animal feeds.
SMFB has an extensive, complementary product portfolio featuring 32 brands in six categories, withsomething to offer for every segment of the growing domestic market.
With seven beer production facilities strategically located across the Philippines and close to consumer
markets, SMFB can serve all regions and transport beer products to market within five to seven days of
production, thus ensuring product availability and freshness. Spirits, on the other hand, are produced
from fine alcohol obtained from a centralized distillery in Negros Occidental, the Philippines’ largest
molasses-producing region, and are bottled at five domestic facilities across the country. Additionally,
SMFB operates a nationwide network of facilities, including breeding and growing farms, state-of-the-art
feed mills, poultry processing and food manufacturing plants. These facilities are located in close
proximity to the markets that they serve and an efficient cold chain ensures optimal shelf life andpreserves the quality and freshness of its products. Equipped with modern technology, SMFB’s facilities
rank among the most efficient in the country, maintaining high quality standards and optimal production
costs.
The Beer and NAB Division operates over 50 sales offices, partnering with approximately 450 dealers,with products in over 500,000 outlets. The Spirits Division operates 14 sales offices strategically locatedacross the Philippines and coordinates with a network of 93 dealer sites covering approximately 158,000
outlets. The products of the Food Division are offered through approximately 160,000 points of sale,partnering with over 1,300 dealers, distributors, and food service clients.
SMFB is expanding its production capacities and manufacturing facilities in strategic areas to meetgrowing demand in its various food segments. Over the last six years, we have built new feed mills andprocessing plants for poultry, refrigerated and canned processed meats, and ready-to-eat food. In
October 2023, the Food Division inaugurated its first mega poultry farm in Hagonoy, Davao del Sur,equipped with controlled climate technology, automated feeding and watering systems, an air quality
monitoring system, and an automated harvesting system. Over the next ten years, the Food Division is
set to build a number of mega poultry farms across the country, each capable of producing up to 80
million birds per year at full capacity. Employing the latest technology in poultry farming and bestpractices in animal health and nutrition, the farms are expected to consistently produce premium quality
chickens to meet consumer demand for safe and affordable products. This effort aims to bring down
production and logistical costs and support SMC’s larger plan to boost the country’s food security.
Packaging
The packaging business began operations in 1938 with the establishment of a glass plant that supplied
glass bottles for the beer and NAB products of SMC. The Packaging Group is comprised of San Miguel
Yamamura Packaging Corporation (SMYPC) and San Miguel Yamamura Packaging International Ltd, along8with their respective subsidiaries. These entities are joint venture companies between SMC and Nihon
Yamamura Group, one of Japan’s largest glass and plastic packaging corporations. The group further
includes SMC Yamamura Fuso Molds Corporation, the sole manufacturer of glass and plastics molds inthe country; Can Asia Inc., a pioneer in producing two-piece aluminum cans; Mindanao CorrugatedFibreboard, Inc., a corrugated carton manufacturer; and Wine Brothers Philippines Corp., involved in thesale and distribution of wine products. Today, the Packaging Group is a market leader across all its
product formats in the domestic packaging industry, offering total packaging solutions to clients. The
Packaging Group continuously innovates to enter new markets and segments with novel products, whiledeveloping eco-friendly processes. In recent years, the Packaging Group has upgraded its manufacturing
facilities to exceed established government regulations. Among its significant investments is anElectrostatic Precipitator, a pollution-abating device.
The Packaging Group has one of the largest packaging operations in the Philippines, producing glass,molds, metal and plastic closures, aluminum cans, plastic bottles, pallets and crates, flexibles, paper, andother packaging products. It also provides beverage filling in aluminum cans, PET and glass bottles, andlogistics services. Serving as the principal supplier of packaging needs for other SMC businesses, it alsocaters to customers in the Asia-Pacific region, the U.S., and Australasia, as well as to major multinational
corporations in the Philippines, including Coca-Cola Beverages Philippines, Inc., Nestle Philippines, andPepsi Cola Products Philippines, Inc.
The Packaging Group owns 18 international packaging companies, mainly located in China (glass, plastic,
paper packaging products, and trading), Vietnam (glass and metal), Malaysia (composite, plastic films,
woven bags and radiant/thermal liners), Australia (trading of packaging products, including retail/online
packaging, cargo protection, materials handling products, plastic manufacturing, provision of wine
closures, and wine filling services), and New Zealand (plastic manufacturing and trading of packaging
products).
Aside from extending the reach of the packaging business overseas, these facilities also allow the
Packaging Group to serve the packaging requirements of SMB breweries in China, Vietnam, Indonesia,
and Thailand.
EnergySMC operates its energy business through its wholly owned subsidiary, San Miguel Global Power Holdings
Corp. (SMGP) which, together with its subsidiaries, associates, and joint ventures, is one of the largest
power companies in the Philippines. As of December 31, 2023, SMGP controls a combined capacity of
4,789 MW. SMGP benefits from a diversified power portfolio that includes natural gas, coal, andrenewable energy, such as hydroelectric power and BESS. Based on the total installed generating
capacities reported in the Energy Regulatory Commission (ERC) Resolution on Grid Market Share
Limitation, SMGP’s combined installed capacity represents approximately 19% of the National Grid, 25%of the Luzon Grid, and 7% of the Mindanao Grid as of December 31, 2023. In addition, SMGP is involved
in distribution and retail electricity services and has various power projects in the pipeline.
SMGP has a portfolio that includes some of the newest and largest power plants in the Philippines. Its
baseload and peaking plants with diversified fuel sources allow SMGP to manage costs effectively andoffer more competitive baseload power rates. SMGP also has capacity from its BESS facilities, which canprovide more efficient ancillary services and has synergistic effects with renewable technologies,
particularly the ability to strengthen the stability of a grid, while improving power quality.
As of December 31, 2023, the major power assets of SMGP consist of the Sual Power Plant, San RoquePower Plant, Angat Hydroelectric Power Plant, Limay Greenfield Power Plant, Malita Greenfield Power
Plant, Masinloc Power Plant (with the Masinloc BESS), and the Ilijan Power Plant, which was turned overby the Power Sector Assets and Liabilities Management (PSALM) to SMGP following the expiration of its
Independent Power Producer Agreement on June 3, 2022.
The power generated by the Sual Power Plant, Ilijan Power Plant, Limay Greenfield Power Plant, Malita
Greenfield Power Plant, and Masinloc Power Plant, is primarily used as baseload supply and sold tocustomers under bilateral offtake agreements. The power generated by the San Roque Power Plant andthe Angat Hydroelectric Power Plant serves as peaking supply. It is sold through the Wholesale Electricity
9

Spot Market or as replacement power to affiliates. The entire capacity of the 10 MWh Masinloc BESS andthe 20 MWh Kabankalan BESS are contracted to the National Grid Corporation of the Philippines,
providing regulating reserve ancillary services to the Luzon Grid under an Ancillary Services Procurement
Agreement.
SMGP is well-positioned to leverage opportunities from the continued growth of the Philippine electricity
market and an expected power supply shortage in the country. The latter is exacerbated by an existingbase of aging power plants which are over 20 years old--and are thus prone to unscheduled shutdowns-as well as a large base of seasonal power supply, such as hydropower plants in Mindanao. To address
this, SMGP has a defined roadmap to increase capacity by developing greenfield power plants andpursuing opportunities to invest in renewable energy projects, particularly in hydroelectric power andsolar power projects and complementary technologies such as BESS.
SMGP closely supervises, controls, and processes improvements in the power plants it owns and operates
to ensure that emissions comply with applicable environmental standards. SMGP utilizes Circulating
Fluidized Bed (CFB) technology in its Limay Greenfield Power Plant and Malita Greenfield Power Plant.
CFB technology transforms coal into a fuel source with relatively low pollutant emissions. These low
emissions are made possible by processes that are used only in CFB power plants, such as chemicallywashing minerals and impurities from coal, gasification, treating flue gases with steam to remove sulfur
dioxide, employing carbon capture and storage technologies to capture carbon dioxide from the flue gas,and dewatering lower-rank coals (brown coals) to improve calorific value, thereby improving electricity
conversion efficiency. In addition, CFB plants incorporate other features that reduce emissions, such as
fine coal grinders, limestone injections, and electrostatic precipitators to capture dust particles thatescape the boiler.
Fuel and Oil
SMC operates its fuel and oil business through Petron Corporation (Petron), the Philippines’ market
leader and operator of the only integrated oil refinery in the country. It is also a leading player in the
Malaysian market. Petron has a combined refining capacity of 268,000 barrels per day, refining crude oiland marketing and distributing refined petroleum products in the Philippines and Malaysia. In thePhilippines, Petron operates the Petron Bataan Refinery, with a production capacity of 180,000 barrels
per day. Petron’s products are primarily sold to customers in the Philippines and Malaysia, and thecompany exports various petroleum and petrochemical products, including low-sulfur waxy residue ,naphtha, mixed xylene, benzene, toluene, and propylene to other customers in the Asia-Pacific region.
Petron maintains 40 terminals and airport installations throughout the Philippines to serve its domestic
markets, representing the country's most extensive distribution network for petroleum products. This
network comprises 13 terminals in Luzon, seven in Visayas, and eight in Mindanao, as well as four airport
installations in Luzon, five in Visayas, and three in Mindanao. The terminals have marine receiving
facilities, multiple product storage tanks for liquid fuels and Liquefied Petroleum Gas (LPG), drummed
products storage, and warehouses for packaged products, such as lubricants and greases. Refined
products from the Petron Bataan Refinery are distributed to the various terminals and direct large
consumer accounts using a fleet of contracted barges and tankers, as well as to service stations andindustrial accounts through a fleet of contracted tank trucks. The barges and tankers are chartered onterm or spot contracts from third-party ship owners. Bulk products are hauled from the storage terminals
to service stations and industrial accounts by tank trucks owned by Petron and third parties.
As of December 31, 2023, Petron has a network of more than 1,800 retail service stations in thePhilippines, with most stations located in Luzon where demand is heaviest. Through its extensive
network, Petron sells gasoline, diesel, and kerosene to motorists and to the public transport sector. Its
LPG brands, Petron Gasul and Fiesta Gas, are also available at these service stations and from anationwide network of 1,700 LPG branch stores. Meanwhile, Petron’s Lubes distribution network
includes 45 car care centers, more than 350 active lube bays, and approximately 1,100 service stations
selling lubes.

10Infrastructure
The infrastructure business, conducted through San Miguel Holdings Corporation (SMHC), consists ofinvestments in companies that hold long-term concessions in the infrastructure sector in the Philippines.
Currently operating toll roads include the South Luzon Expressway (SLEX), Skyway Stages 1, 2 and 3,
Southern Tagalog Arterial Road (STAR), Tarlac-Pangasinan-La Union Expressway (TPLEX), and NAIA
Expressway (NAIAx). Ongoing projects include Skyway 4, SLEX-TR4, SLEX-TR5, Pasig River Expressway(PAREX), MRT-7, Northern Access Link Expressway (NALEX), Southern Access Link Expressway (SALEX),
Cavite-Batangas Expressway (CBEX), Nasugbu-Bauan Expressway (NBEX), and the New Manila
International Airport (NMIA). SMHC also operates and is currently expanding the Boracay Airport and has
investments in Manila North Harbour Phil. Inc., the concessionaire of the domestic terminal North Portof the Manila North Harbour, and Luzon Clean Water Development Corporation for the Bulacan Bulk
Water Supply Project.
SMHC has become one of the major infrastructure companies in the country, with concessions in tollroads, airports, mass rail transit, and bulk water supply. SMHC’s concession rights cover approximately
1,048.5 kilometers of total road length, serving Metro Manila and other fast-growing regions of Luzon.
SMHC aims to address gaps in our country’s infrastructure and transport network by building expansive,
resilient road infrastructure and public transportation projects. These efforts are designed to catalyze
trade, investment, and national development, supporting growth and progress through collaboration on
projects under the government’s Public-Private Partnership (PPP) programs. By partnering with thegovernment to enhance the country’s infrastructure and transportation, SMC Infrastructure contributes
to the overall economy and helps improve people’s lives.
Cement
The cement business is conducted under San Miguel Equity Investment Inc. (SMEII), which owns 100% of
the common stock of Northern Cement Corporation (NCC) and Southern Concrete Industries, Inc. (SCII)
and 99.96% of Eagle Cement Corporation (ECC) as of the end of December 2023. SMC owns 100% of
SMEII.
The Cement business has grown in size and contribution to SMC with the addition of ECC as of the end of2022. Together, NCC and ECC have established a strong market presence in Luzon, building reputablenames in cement production and domestic sales. The cement group operates plants with integrated
cement manufacturing lines showcasing sustainable, environment-friendly, world-class, and state-of-theart equipment capable of producing high-quality cement that is above and beyond prescribed
specifications.
In 2023, SMC expanded its market presence in Mindanao by establishing a cement grinding facility
through SCII, which adopted the processes, technologies, and strategies of NCC.
The cement group owns and operates various facilities: ECC has a fully integrated cement production
facility, a limestone, shale, and pozzolan quarry, and a Limestone Pulverizing Plant in San Ildefonso,
Bulacan, and a grinding and packaging facility in Limay, Bataan. NCC has a fully integrated cement
production facility and quarry in Sison, Pangasinan, while SCII operates a grinding plant in Santa Cruz,
Davao Del Sur. Overall, the cement business has a combined annual rated production capacity of
approximately 17.53 million metric tons per year (MTPY) of finished cement.
It continues to develop and improve plant capacity and operational efficiency through innovativetechnology and measures to increase the supply of cost-efficient cement products. This includes adapting
environment protection and enhancement programs, promoting innovative high-quality products, strict
monitoring and enforcement of regulatory compliances, strengthening of customer technical and mobilelaboratory services, and implementing social development and management programs. Additionally, thecement business offers programs for Indigenous Cultural Communities, and undertakes employee
welfare and holistic people development programs to create a resilient and engaged workforce.

11

Real Estate
Established in 1990 as the corporate real estate arm of SMC, San Miguel Properties Inc. (SMPI) aims tobecome one of the major players in the country's property development sector. SMPI is 99.97% owned
by SMC and primarily manages, develops, sells, and leases the conglomerate’s real estate assets. SMPI
offers a diverse portfolio of mid-range homes and prime lots. It is expanding into the high-end market
with its foray into townhouse developments and the hospitality segment through Makati Diamond
Residences. Furthermore, SMPI is considering entering integrated township developments andsustainable tourism projects.
Banking
Bank of Commerce (BankCom), an affiliate of SMC, is one of the country's fastest-growing universal banks
licensed by the Bangko Sentral ng Pilipinas. The Bank has been operating since 1963. BankCom provides
innovative banking solutions and a complete range of products and services in deposit, commercial loans,credit card services, consumer banking, transaction banking, corporate banking, treasury, asset
management, trust, and investments. In terms of service reach, BankCom has retail and corporate
internet banking facilities consisting of 140 branches and 242 automated teller machines, strategicallylocated nationwide as of December 31, 2023.
BankCom aims to strengthen its presence in the domestic market and deepen its relationship with clients
through various financial solutions focused on supplier and customer relationships within conglomerates.
BankCom’s ESG data is not included in this report, being an affiliate of SMC, whose performance is notconsolidated with the Group.
Logistics
SMC Shipping and Lighterage Inc. (SMCSL) is a 70% owned subsidiary of SMC that primarily operates
shipping, cargo handling, warehousing, and trucking services for other businesses within the SMC Group.
San Miguel Integrated Logistics Services, Inc. (SMILSI) is another SMC subsidiary providing logistics
management services to other businesses in the SMC Group. Utilizing company-owned and leased
storage facilities, transport units, and material handling equipment, SMILSI offers integrated planning,
coordination, operations, and maintenance services related to shipping, warehousing, trucking activities,
and customs brokerage and port operations services.
Information Technology
Established in 1999, San Miguel Information Technology Services, Inc. (SMITS) is one of the leading
Information Technology (IT) companies in the Philippines today. It is responsible for managing SMC's IT
operations. The organization employs over 700 IT professionals and over 1000 business process experts
and offers IT consulting, implementation, and support services to the San Miguel Group and non-San
Miguel clients.
SMITS is built on four pillars to provide clients with a more holistic approach to digital innovation:− Enterprise Applications, including SAP;
− Emerging Technologies, including developing client or business-specific solutions;− Infrastructure Management Services for all IT facilities; and− Business Process Outsourcing (BPO) Services.
SMITS manages SMC's IT operations and offers IT consulting, implementation, and support services to
the San Miguel Group and external clients.
Cars and Motorcycles
SMC Asia Car Distributors Corp. was established in 2017 and is 65% owned by SMC. Its primary purpose
is to import, buy, sell, and distribute all kinds of motor vehicles and means of transportation, as well as
spare parts, accessories, tires, tubes, batteries, and other supplies, materials and appliances used in
12motor vehicles. It is currently the sole importer and distributor of BMW vehicles, spare parts, andaccessories in the Philippines.

3.3 Our Awards and Recognitions
GRI 2-22

Our commitment to integrating sustainable practices across all aspects of our business operations isreflected in the diverse array of accolades we received in 2023. These recognitions underscore ourunwavering dedication to environmental stewardship, social responsibility, and corporate governance,aligning with our agenda to create a positive impact on society and the environment.

2023
San Miguel Corporation•
The Asset ESG Corporate Awards (Titanium)•
The Asset Best Initiative in Environmental Responsibility: BESS•
Alpha Southeast Asia 13th Institutional Investor Corporate Awards 2023
o Strongest Adherence to Corporate Governanceo Most Consistent Dividend Policy
o Best Strategic Corporate Social Responsibility• 2023 Philippine Chamber of Commerce and Industry (PCCI) Presidential Recognition for
Outstanding Achievement on Environment / Climate Initiatives• 2023 PCCI Nation Builders’ Award to Ramon S. Ang and San Miguel Corporation• 2023 ASEAN Corporate Governance Scorecard (ACGS) Recognition Award: One Golden Arrow• Forbes 2023 World’s Best Employers• Time World’s Best Companies 2023
San Miguel Food and Beverage Inc.
• 2023 ACGS Recognition Award: Three Golden Arrows
Ginebra San Miguel Corporation•
The Green Organization 2023 International CSR Excellence Award – Bronze• 20th Philippine Quill Awards – Award of Excellence for “Huling Patak ng Bagong Tapang” under theMarketing, Advertising, and Brand Communication Category•
TESDA 2023 National Kabalikat Awards – Industry Category•
Monde’s World Quality Awards – Goldo Ginebra San Miguel 350ml (Round), 350ml (Frasquito) and 700ml (Frasco); GSM PremiumGin, Antonov Vodka; Vino Kulafu 350ml and 700ml; 1834 Premium Distilled Gin•
Monde’s World Quality Awards – Silvero GSM Blue Mojito, Pomelo, Margarita, Light Gin, and Primera Light Brandy
Petron Corporation•
2023 ACGS Recognition Award: Two Golden Arrows
San Miguel Global Power Holdings Corp.
•
Asian Power Awards 2023 – Innovative Power Technology of the Year – Philippines (BESS Facilities)•
Asian Power Awards 2023 – Smart Grid Project of the Year – Philippines (BESS Facilities)•
Asian Power Awards 2023 – Water Conservation Initiative of the Year – Philippines (Limay PowerInc.)•
Asian Power Awards 2023 – Diesel-Fired Power Project of the Year – Philippines (Malita Power Inc.)•
Asian Power Awards 2023 – Power Plant Upgrade of the Year – Philippines (Malita Power Inc.)•
Asian Power Awards 2023 – Information Technology Project of the Year – Philippines (Malita PowerInc.)
Packaging Group•
Excellence Award from the International Quality and Productivity Convention•
Success Story Award from the Pollution Control Association of the Philippines
13

Eagle Cement Corporation•
2023 ACGS Recognition Award: One Golden Arrow•
Presidential Mineral Industry Environment Award from the Department of Environment andNatural Resources (DENR)•
2nd runner-up for Best Mining Forest Award from the DENR
Northern Cement Corporation•
Best Environmental Partner from the DENR

2022
•
•
•
•
•
•
•
•
•

•

Special recognition by the Department of Labor and Employment (DOLE) as an exemplary Filipino
company, with malasakit for its own people (SMC)
French Government’s Legion of Honor for Ramon S. Ang
Forbes Magazine, World’s Best Employers List (SMC placed 174th out of 800 companies)
ACGS Recognition Award: Three Golden Arrows (SMFB)ACGS Recognition Award: Two Golden Arrows (Petron)
Presidential Mining Environmental Award: Titanium Achievement Award for Quarry Operator
Category (NCC)
Consistently recognized as a Top Taxpayer in the Local Government Units (LGUs) where we operate
and by the government’s revenue collection agencies, in particular the Bureau of Customs
Catholic Mass Media Award for Best Digital Ad (GSMI, Ginebra San Miguel)Monde Selection Awards: Gold (GSMI)o Ginebra San Miguel Premium Gino Antonov Vodkao Ginebra San Miguelo 1834 Premium Distilled Gino GSMI Blue Light Gino GSM Blue Flavors Pomelo
o Vino Kulafu
Monde Selection Awards: Silver (GSMI)
o GSM Blue Flavors Mojito
o GSM Blue Flavors Margarita

2021
•
•
•
•

•

The Asset ESG Corporate Awards (SMC)Gold Award in Excellence in Environmental, Social and Governance (SMC)
Catholic Mass Media Award for Best Digital Ad (GSMI)o Ginebra San MiguelMonde Selection Awards: Gold (GSMI)o Ginebra San Miguel Premium Gino Antonov Vodkao Ginebra San Miguelo GSMI Blue Light Gino GSM Blue Flavors Pomelo
o Vino Kulafu
o GSM Blue Flavors Mojito
Monde Selection Awards: Silver (GSMI)
o GSM Blue Flavors Margarita

144 Our Stakeholders
4.1 Stakeholder Engagement
GRI 2-12 | GRI 2-16 | GRI 2-25 | GRI 2-26 | GRI 2-29

With its extensive portfolio of businesses, SMC significantly impacts on the daily lives of the Filipino
people who depend on us not only for the provision of goods and services but also for our responsible
and conscientious approach to doing business. Our commitment to sustainability is centered on
addressing the key challenges our stakeholders face, harnessing the power of our businesses to offer
meaningful solutions. We recognize that adopting sustainable practices benefits our stakeholders andenhances both business performance and shareholder value.
Transparent and open communication is crucial for recognizing the diverse needs of our stakeholders.
We prioritize engaging in continuous dialogue with our stakeholders through various effective
communication channels, ensuring that their needs are met. Additionally, we actively benchmark our ESG
performance against the best practices of our peers, both locally and globally, to further strengthen ourcommitment to sustainability.

4.2 Our Stakeholder Groups
GRI 2-12 | GRI 2-16 | GRI 2-25 | GRI 2-26 | GRI 2-29 | GRI 411-1 | GRI 413-1 | GRI 413-2

Shareholders and Investors
SMC considers its shareholders and investors to be integral partners, supporting the Company's visionand strategies by supplying the essential capital needed for long-term business growth. They are pivotal
in driving sustainable evolution and future value creation, influencing the Company's corporate behavior
and commitment to sustainable practices. Our sustainability goals and targets are shaped by constantfeedback and open dialogue with shareholders and investors, aligning with their needs and expectations.
This approach fosters trust, transparency, and accessibility for all stakeholders and investors.
Our communication channels are well established, including monthly and quarterly meetings with theBoard of Directors and various Board-level committees. Annual stockholders' meetings offer a platform
for shareholders to learn about the Company’s performance and plans, and to voice their comments andquestions. We maintain ongoing communication through one-on-one or group meetings, roadshows,
teleconferences, calls, email correspondences, and regular Company disclosures to the SEC, PSE, andPhilippine Dealing & Exchange Corp. (PDEx). Additionally, quarterly investor briefings and E-newsletters
are part of our communication strategy.
Social media platforms further enhance our outreach by disseminating news on performance,developments, and milestones.
In the realm of ESG, SMC engages in meetings within the Group and with external parties to discuss ESG
ratings and potential initiatives addressing ESG-related concerns. The open flow of dialogue andinformation exchange on goals and strategies ensures the Company's trajectory towards moresustainable growth and value creation.

Government Bodies and Regulators
SMC continues to work closely with the government and regulators on developmental, legal, regulatory,or legislative matters, viewing them as important partners in attaining the country’s development goals.
Our regular dialogues include consultation meetings, plant visits, legislative hearings, briefings, andconferences, to name a few.
Furthermore, SMC diligently compiles with all relevant laws and regulatory requirements. We conduct
financial and operational audits to ensure we fulfill all requirements and aim to at least be at par with
global standards and best industry practices.
15

Additionally, SMC supports national growth and progress through collaboration on projects andinitiatives through the government’s Public-Private Partnership program. By being a partner of thegovernment in enhancing the country’s infrastructure and transportation systems, and providing a stable
power supply, we believe we are contributing to the overall economy and helping to improve people’s
lives. We also closely monitor and engage in discussions with the government regarding any plans that
may affect our products, such as tax increases, to ensure that it will be fair and acceptable to ourconsumers.
Road infrastructure is a prime example of SMC’s willingness to collaborate with national and local
government units. The Company holds numerous consultations with relevant agencies, addressing theimpacts of the road network and devising plans to address these impacts adequately. This includes
implementing appropriate and robust mitigations, compensating those who stand to lose their homes,
or providing access to opportunities that expansion would bring, such as new jobs and apprenticeships.
For Republic Act (R.A.) No. 11898, also known as the Extended Producer Responsibility (EPR) Act whichbecame a law in August 2022, SMC representatives attended industry association meetings andparticipated in industry consultations with the DENR leading to the passage of the bill that placed
responsibility for post-consumer plastic waste squarely on the shoulders of manufacturers. Along withother companies, SMC supported the plan and helped ensure that the implementation mechanism would
be a viable and practical approach to reducing the volume of plastics that leak out into the environment.
Engagements with government and regulators in the ESG space are critical for creating an environment
conducive to sustainable and responsible business practices. Collaboration between the public andprivate sectors is essential for achieving meaningful progress in the ESG landscape.

Customers
SMC recognizes its customers’ continued loyalty as vital to the Company’s success. As such, we strive to
produce quality products that are safe and affordable and services that provide the best customer care.
This is by keeping up with customers’ evolving preferences through customer satisfaction surveys,
customer engagement initiatives, immersion, field visits, and social media monitoring.
SMC uses both traditional and digital communication channels for its products and services. We aim toremain present in the minds of everyday customers using product marketing campaigns, social media
launches, and traditional forms of advertising such as TV, radio, and out-of-home advertising. Consistency
and harmonization of our marketing and packaging efforts are of utmost importance, as a lack of these
may send conflicting messages to our valued customers.
SMC continues to increase the use of social media platforms to engage directly with consumers, ensuringthat all private messages regarding its products are responded to and addressed promptly. We regularly
monitor feedback from our consumers on promos implemented to ensure that these are relevant andadjust consumer promo mechanics as needed. These are monitored through consumer promo andnovelty items surveys conducted quarterly or twice a year.
To provide easier and faster access for our products and services, our customers can place orders through“https://www.sanmiguelmart.ph/” and https://www.smbdelivers.com/”, which deliver directly to theirdoorsteps. We also have our Customer Care contact, “+63 2 8632-2000”, where customers can makeinquiries, give feedback, and inform us of any complaint they may have.
Specifically for our Fuel and Oil business, Petron provides avenues for customers and stakeholders toprovide feedback via the following platforms: the Petron website (www.petron.com); Petron’s various
social media platforms such as Facebook (facebook.com/PetronCorporation), Instagram(instagram.com/petroncorporation/), and X (twitter.com/Petron_Corp); the Petron Customer Interaction
Center where various customer concerns, inquiries, and complaints on orders, facilities, and prices areattended to; and the feedback program at service stations where posters in place indicate a hotline
number for feedback via SMS. These platforms offer accessible mechanisms to collect, record, andaddress complaints or grievances.

16

Suppliers and Vendors
SMC contributes significantly to the growth of upstream industries, fostering a wide network of thirdparty suppliers for our portfolio of products and services. We view our suppliers and vendors as valuable
partners in creating shared value, supplying essential products and services that meet the Company’s
stringent quality standards and requirements.
Supplier accreditation involves a thorough audit and assessment by our Corporate Procurement Group,
screening for adherence to business ethics, environmental standards, health and safety compliance, andfinancial capability. Having enhanced our Supplier Code of Conduct in 2022 to incorporate ESG metrics,
we continue to orient suppliers to ensure their understanding and alignment with the revised Code.
Corporate Procurement has drafted a multi-year engagement plan, cognizant that suppliers are indifferent stages of their own ESG journeys. For suppliers, mostly large foreign companies, which are quiteadvanced in their sustainability practices, the objective is to learn from them and understand what work
has been done towards obtaining valued certifications. For suppliers who are still setting up theirprograms, or who may not even be aware of ESG concerns, training workshops will be conducted. As apreliminary step, training sessions were held for our own procurement teams to ensure that they
understand ESG concepts and can properly communicate on the topic with suppliers.
To assess suppliers’ sustainability practices, SMC enhanced the survey questionnaire administered lastyear and will involve an additional 500 suppliers in the next run, increasing coverage to 10% of total
suppliers of the SMC Group. Finally, we are evaluating at least three vendors offering solutions formonitoring and validating ESG compliance among our suppliers.

Employees
SMC views our employees as the heart and soul of the Company, partners in realizing our strategy andpurpose, and together, supporting the advancement of our ESG agenda. As of 2023, SMC had 53,357
employees in the domestic operations of the subsidiaries, as covered by this Report.
SMC employs qualified, skilled, and experienced personnel to manage our business and run ouroperations. We offer compensation and benefits packages that are competitive within the industries ofeach business to ensure the adequate manning of critical positions. We have established succession
planning programs for key positions to ensure leadership continuity and the preservation of technicalexpertise.
SMC realizes the importance of upholding labor laws, maintaining mutual respect and promoting aharmonious labor-management environment. Keeping open lines of communication is essential and thisis achieved through several programs: 1) Grievance Machinery is a process stipulated in Collective
Bargaining Agreements (CBAs) through which unionized employees can air their complaints or concerns
regarding their employment; 2) Labor-Management Councils are organized at plant level to provide avenue to discuss issues and work together on programs for the benefit of the employees.
For non-unionized employees, town halls or speak-up occasions are organized, usually on a bi-monthlyor quarterly basis. These vary in form and practice across the different businesses, but in general, town
halls are for major announcements or program launches while speak-ups are held for small groups of
employees, either with their second-level manager or with the division or business head. Speak-ups areusually free-wheeling discussions on issues or suggestions from employees.
Other than these, the Human Resources managers in each business unit also serve as a sounding board
for their fellow employees and are expected to raise important concerns brought to their attention tohigher management for action or resolution.

Local Communities
SMC has operations across the entire Philippine archipelago, with farms, manufacturing facilities, power
plants, fuel terminals, service stations, and warehouses positioned in various communities nationwide.
17

At the initial planning stage of any project, we actively engage with the communities where we intend tooperate. Preliminary dialogues are held with the LGU in charge of the area, asking for their input andsupport and building mutual trust. The process then calls for a presentation of the proposed project tothe host barangay/s giving the directly affected community an opportunity to raise concerns and theCompany, to respond to these concerns. The resolution of this back-and-forth process serves as input toan Environmental Impact Assessment report which is submitted to the DENR for approval, along withproject design. Throughout the construction period, meetings with the LGU or the barangay/s are held
to raise and resolve any problems that may arise.
SMC strives to cultivate positive relationships with host communities and LGUs. We recognize thesignificance of sustained long-term commitments beyond isolated events or programs. Thus, each facility
has a designated person in charge of maintaining community relations. This may be the Plant Manager,
the HR Head, Area Sales Manager or other personnel with authority in the facility. They are supported bycounterparts on a regional level, and further by dedicated External Relations Managers at division level.
Part of the job is to periodically attend barangay council meetings, and municipal and provincial
gatherings on various socio-economic and industrial topics.
Since many locations where SMC operates are in rural areas or similarly under-privileged communities,
part of keeping a positive relationship with the community is providing materials or services that theyneed. These may include provision of water, feeding programs, education and livelihood opportunities,
and health and medical services through community clinics. Initiatives such as road widening, street
lighting and drainage cleanup are also done.
In areas with Indigenous Peoples (IP), such as the power plant in Masinloc, Zambales or the cement plantin Sison, Pangasinan, the Company ensures the protection of IP rights in collaboration with the National
Commission on Indigenous Peoples. Engagement with IPs in these areas include nursery development
and reforestation, community development projects, and annual outreach events.
’

Financial Institutions
Financial institutions are essential partners of SMC in our drive to develop and expand our businesses, withthe ultimate goal of contributing to national development and prosperity. They provide the funds necessary
to support our major undertakings. They provide us with advisory services, insights on financial strategies,
market trends, and regulatory compliance, which help us make informed decisions and navigate complex
financial environments in our funding activities. They have been instrumental in successfully assisting SMC
with our expansion strategy in key areas of our business, particularly in infrastructure and energy, throughdebt or equity financing via bonds, preferred shares, or perpetual securities deals, roadshows, project
financing, and loans. These efforts have provided us with a menu of options to raise capital, manage
cashflow, and support the Company’s ambitious growth.
SMC consistently communicates and engages with financial institutions through economic briefings, regularmarket updates, credit update calls, discussions on different financial instruments, and formal email
correspondence.
Financial institutions also expand our knowledge about the increasing importance of sustainability in our
strategies and operations. Banks bring in their sustainability experts to assess our programs and practices
and offer valuable advice on improving our ESG performance and ratings. Through their assistance, SMC
has been assessing financing instruments such as green loans or social loans to help us achieve theCompany’s sustainability goals and targets. They have also aided us in effectively communicating our ESG
agenda and goals to our shareholders and investors.

Media
The media are essential to how we communicate with all our stakeholders, including investors, customers,
communities, and the public at large. As such, SMC maintains professional relationships with bothtraditional and online media practitioners. Through official releases, press briefings, and personal and online
interviews, our President and CEO, as well as key officers, keeps the media updated on the company’s plans,performance results, and other relevant business updates.
18

The media are also invited to company events such as our annual stockholders’ meetings, the inaugurationsof facilities and major projects, brand launches, and listing ceremonies in the SEC, PSE, and PDEx, among
others. SMC endeavors to provide information on a regular basis in a timely, responsible, and transparent
manner and has expanded the ways it delivers information with the rise of digital and social media.
The SMC Corporate Affairs Office and Media Affairs Group take the lead in providing the media and the
public with information about the company’s sustainability agenda. Through press releases and postings on
the company’s website and social media platforms, the Company keeps the media updated on thedevelopment of major sustainability programs. The media are invited to visit project sites and interview
personnel and community members where warranted. The President and CEO also meets with media
stakeholders to update them on key projects, such as the company’s river rehabilitation initiative. All these
efforts help ensure that the media, and by extension, the public, investors, and other stakeholders, have aclear picture of the Company’s performance, strategies, and governance.

19

5 Our Approach to Sustainability
5.1 Our Materiality Process
GRI 3-1

Transparency and accountability remain the bedrock of our sustainability reporting, guiding ourcommunication and engagement with stakeholders.
No material changes have occurred in our Company’s activities, relationships, or broader business
context over the past year. This continuity has allowed us to anchor our sustainability efforts in thefindings of our earlier materiality assessment, which continues to accurately reflect the critical ESG
challenges and opportunities facing our organization.
With the consistent relevance of these identified material topics, our efforts have increasingly focusedon the deeper implementation of initiatives designed to address these areas.
Although a comprehensive materiality reassessment was not undertaken this year, we remain committed
to continuously monitoring the evolving internal and external landscape, ensuring that our materiality
assessment remains dynamic and responsive to emerging trends and shifts. Furthermore, our adherence
to globally recognized standards, including the GRI and SASB, ensures our materiality process is robust,comprehensive, and aligned with best practices.

Our Materiality Assessment Process
Our 2022 materiality assessment process was comprehensive, beginning with identifying potential
material topics. This was achieved by analyzing peer entities and reviewing internationally recognized
ESG standards, ensuring a complete understanding of relevant ESG issues within global and local
contexts.
Following this, we engaged with our stakeholders through targeted sessions, aiming to refine andprioritize these topics according to their impact to stakeholders and our business. This culminated in a
Materiality Validation Workshop, attended by SMC’s senior management, where these topics were
thoroughly examined and prioritized, affirming our commitment to aligning our sustainability initiatives
with stakeholder expectations.

A. Our Material Topics
GRI 3-2

SMC identified key ESG topics that are central to our sustainability agenda. Eight topics were highlighted
as primary focus areas for the coming one to two years, directing the development and execution ofsustainability strategies and initiatives to address ESG-related risks and opportunities. Another set ofeight topics was deemed of moderate priority, reflecting areas already integrated into SMC’s operational
practices or applicable only to certain subsidiaries. For a complete description of each of the material
topics, please refer to the Appendices of this Report.

20

5.2 Our ESG Data Collection Process
GRI 2-5

We commit to complete transparency and accountability for our ESG actions and disclosures to our many
stakeholders. We adhere to global and local standards and ensure that the data disclosed in this Report
are accurate, balanced and complete.
We have improved our 2022 standardized data template and expanded the boundaries to include a wider
range of data on our material ESG topics from our various subsidiaries. We have strengthened the data
template to better align with various ESG frameworks, such as the SEC requirements, GRI Standards, SASB
Standards, the Task Force for Carbon Related Disclosure (TCFD) Framework, GHG Protocols and theCarbon Disclosure Project Framework.

Data Collection Process
The Sustainability Working Teams from the business units collected, verified, and consolidated data at
the business unit level before submission to the SMC parent company. The Corporate Sustainability Office
was responsible for reviewing and analyzing the data, ensuring that the submitted data was complete
and of sufficient quality before the final consolidated data were utilized as the basis of our corecommunications in this Report. Working alongside the Corporate Sustainability Office were the Corporate
Affairs Office, Corporate Human Resources, Corporate Finance, Office of the General Counsel and the San
Miguel Foundation, together forming the SMC Sustainability Core Team.
Plans are in place to improve and automate our data collection and validation processes and employ data
analytics to identify possible risks and opportunities better. Additionally, we intend to achieve external
assurance for our sustainability reporting within the next three years.

215.3 Our Sustainability Governance Structure
GRI 2-9 | GRI 2-10 | GRI 2-11 | GRI 2-12 | GRI 2-13 | GRI 2-14

In keeping with our enduring commitment to sustainability, San Miguel Corporation has developed arobust governance framework to ensure effective oversight and implementation of our sustainability
agenda. This framework ensures that sustainability is a key part of our operations at every level,
encouraging a company-wide culture of environmental and social responsibility.
The Board of Directors stands at the core of our governance structure, setting the strategic vision anddirection for sustainability within the SMC Group. The Board ensures the integration of ESG principles
into the broader business strategy, risk management framework, and corporate values.
Supporting the Board is a Board Sustainability Committee. This independent committee oversees theGroup’s sustainability strategies and the execution of related initiatives, and closely monitors our ESG
performance.
The President and CEO spearheads our sustainability efforts at the executive level, tasked with the crucialrole of implementing the Group’s sustainability agenda. This responsibility includes addressing thebroader impacts of climate change.
The Chief Sustainability Officer (CSO) assists and supports the President and CEO and plays a key role inshaping our overarching sustainability strategy, establishing ambitious goals, and tracking our ESG
performance. The CSO is essential in transforming our sustainability agenda into actionable targets andprograms moving the organization forward.
At the operational level, the Corporate Sustainability Office is a dedicated unit that implements oursustainability agenda throughout the Group. It is responsible for monitoring, measuring, and reportingon ESG progress.
The Sustainability Working Team, comprised of sustainability champions from SMC’s various business
units, drives the execution of ESG strategies and initiatives within their respective businesses. Their roleensures that sustainability is actively pursued within each business unit of the Group and that every partof the Company is working towards our sustainability goals.

22

A. Our Board Sustainability Committee
GRI 2-9 | GRI 2-10 | GRI 2-11 | GRI 2-12 | GRI 2-13 | GRI 2-14

In July 2023, San Miguel took a significant step forward in its sustainability journey by establishing a
dedicated Board Sustainability Committee. This initiative marks a deeper embedding of sustainability into
our corporate governance, weaving it into our strategic decision-making and everyday operations.
Purpose and Vision
The Board Sustainability Committee was created to assist the Board of Directors in embedding
sustainability throughout our organization, helping shape a present where environmental stewardship,social responsibility, and governance excellence drive our every decision.
Responsibilities and Strategic Objectives
Armed with a definitive mandate, the Committee is at the heart of our efforts to realize our boldsustainability aspirations, namely: establishing a circular economy approach by 2040, reaching Net Zeroemissions by 2050, uplifting 15 million people by 2030, and ensuring a fully sustainable and ethical supply
chain by 2040. It plays a pivotal role in steering the Group towards these goals, while managing ESG risks
and leveraging opportunities.
Within the SMC Group, San Miguel Food and Beverage, Inc. (SMFB) has also established its own Boardlevel committee, integrating the responsibility into its Board Risk Oversight and Sustainability Committee,aligning with the commitment and goals of the parent company.
Composition and Expertise
The Committee is made up of five Board members, with a majority being Independent Directors. Eachmember has a rich diversity of knowledge, experience, and perspectives, enhancing the Committee’s
effectiveness in guiding the SMC’s sustainability agenda.
Functions, Duties, and Initial Actions
The Committee’s responsibilities include the review of sustainability policies and strategies, monitoring
and advising on ESG performance, and enhancing stakeholder engagement. In its first ever meeting inJuly 2023, the Committee laid out a clear roadmap for SMC’s sustainability journey, deliberating on plans,
priorities, and next steps. This proactive approach ’demonstrates the Committee’s readiness to lead andsets a tone of action and accountability.

23

6 Our Sustainability Blueprint
6.1 Our Sustainability at a GlanceGRI 2-17 | GRI 201-1 | GRI 203-1

Economic value generated and distributedof economic
value

Payments togovernments intaxes

Payments toproviders of capital
Economic
valueof economic
value

Employee wages
and bene ts

Operating costs
including payments
to suppliers

Investments incommunities

ecreases in GHG emissions intensity
for Power, Petron, and SMC s lowercarbon business units

Lower spending
on energy

Freshwater saved throughWater for All projectrop in total
water consumption

Of total materials usedwere renewable

Of solid waste
diverted awayfrom land lls

Reduction in solid waste
generated

Of beer bo lesrecycled

Of silt and waste removed
from Pasig, Tullahan, San
Juan, and Bulacan rivers

Trees planted
through Project747

Of coral transplanted
through coral reef
rehabilitation

Revenues generated
from expanded Backyard
Bukid initiative

Personnel employedoutside NCR, reflecting
workforce regional diversity

Online and in-person trainings
provided to employees

sers reached by digitalsustainability courses on
LinkedIn Learning anddemy

Employees participated in various
sustainability programs and campaigns,
including sustainability trade fairs andimmersion in Be er World communities

Members served almost
daily by Be er World
communities

Consultations in eight
community clinics
nationwide

Total procurement budget
spent on local suppliers

Of SMC s major business units cra ed
and launched ision and Core Purpose
statements integrating a sustainability
commitment

Of irectors and O cers received training on
anti-corruption policies and procedures

Executives and sta completed the Sustainability
Management Certi cation Program and delivered
10 capstone sustainability projects

Employee volunteers

olunteer hours of service

Families granted access to cleanwater through Bulacan Bulk
Water project

irectors and Executives, respectively,
trained with the Ateneo Institute of
Sustainability

Complaints concerning breaches ofdata privacy

24

1.1 A Blueprint for San Miguel
GRI 2-12 | GRI 2-22

Given global warming, more frequent extreme weather events, and resource scarcity, the rise of hunger
and poverty post-pandemic, companies can no longer deny their impact on climate change and are moreaware of how important it is to take action for a healthy environment and work toward greater equality
in society and prosperity for all.
Sustainability has always been an integral part of our business long before it was ever a catalyzing force
for positive change. Reducing our impact on the environment, fostering social inclusion, and havingrobust governance practices have been ingrained in San Miguel’s corporate culture for many years.
For much of our 134-year history, we have referred to these sustainable practices as part of our value
system of malasakit. We manifest malasakit by taking care of our host communities, doing good foreveryone we come by, taking only what we need, and working to make life better for people.
In 2022, in collaboration with consulting firm PricewaterhouseCoopers, top management representatives
from across the businesses conducted a baseline review, identifying each business’s material impacts andcreating a sustainability strategy to help San Miguel plan for the future.
Armed with a detailed understanding of the business and the Company’s long-term sustainability
ambitions, in 2023, we embarked on a journey to further embed sustainability into our organization andday-to-day work lives through a series of peer review workshops designed to draw together the many
interconnecting issues and strands to a common starting point from which San Miguel could develop a
strategy to reduce its impacts and agree on sustainability goals.
Part of this journey required crafting a new vision and core purpose. Senior management participated ina series of workshops, and in May 2023, the Board of Directors approved the new San Miguel Vision andCore Purpose Statement.
This vision encapsulates the role we have set out for ourselves: a nation-builder whose businesses build
a more resilient and globally competitive Philippines and whose investments create better-paying jobs
and economic opportunities that inspire Filipinos to work toward a better future.
Embedded in this vision was our sustainability agenda, a World of Good, and the four goals of circular
economy practices, upliftment of communities, a sustainable and ethical supply chain, and net zero
emissions by 2050.
To build the knowledge, capabilities, and behavior required by the new vision, core purpose, andsustainability statements, a series of town halls, the final one attended by SMC President and Chief
Executive Officer Ramon S. Ang, was held from September to November 2023 to encourage a common
mindset that will bring sustainability and the culture of malasakit to bear in every San Miguel employee’s
day-to-day decision-making.
San Miguel’s major subsidiaries drafted their vision and core purpose statements to align with the parent
company’s to further instill a sense of ownership in their companies. Since then, each subsidiary has
conducted separate cascades reinforcing the precepts of a shared company purpose and ensuring SMC’s
vision and sustainability agenda are embedded in the subsidiary’s existing culture.
On an employee level, we are coming up with more ways to help them get involved in sustainable
practices, for example, by getting involved in our Better World Communities, learning more aboutsustainability and how each individual’s behavior has a fundamental impact on the climate throughworkshops and seminars, and encouraging employees to come up with their own innovative, eco-friendly
alternatives for everyday work life.

25

San Miguel Corporation’s Blueprint

VISIONA resilient and globally-competitive Philippines
where everyone can enrich and enjoy their lives.

P U R P O SE
To lead in nation-building by creating opportunities that will
uplift generations of Filipinos, enabling all to share in the
rewards of sustainable development and prosperity.

C O R P O R ATE VAL UE S
MALASAKIT. EXCELLENCE. We believe in doing our best. We think innovation.
We help our people succeed. ACCOUNTABILITY. We do what is right. We takeaccountability for our decisions. SUSTAINABILITY. We are a good neighbor.
We advocate sustainable development.

SUSTAIN ABLE AGEND A
We envision a world of good, where our business fosters a sustainable
future that is good for the planet, good for people, and good forprogress, benefiting present and future generations of Filipinos.

KA LI K ASA N
Good for Planet

1 Establish a circular

economy approachby 2040

1

2 Net Zero by 2050

KALINGAGood for People

K AS AG A N A HAN
Good for Progress

3 At least 15 million

4 A fully sustainablepeople uplifted by2050

and ethical supply
chain by 2040

2
3

OUR BUSINESSES

OU

26

1.1 Our Sustainability Agenda
GRI 2-22

At San Miguel, we recognize our profound responsibility as one of the Philippines’ largest and mostdiversified conglomerates. Our commitment to sustainability is deeply anchored in our core mandate ofnation-building. We believe that businesses should serve as a force for good, creating a world that
benefits not just a select few, but everyone. This vision drives our sustainability agenda, ensuring that
our operations and initiatives contribute meaningfully to a sustainable future.
In 2023, a Pulse Asia survey revealed that 65% of Filipinos have observed a “big change” in their area’s
climate over the past three years. This sentiment was consistent across Luzon, Visayas, and Mindanao
regions, emphasizing the widespread impact of climate change on the Philippine archipelago. In the same
survey, 69% of Filipinos voiced concern over climate change, labeling it a significant threat to the nation.
This sentiment was closely mirrored in their concerns for their family’s safety, with 71% acknowledging
the peril climate change poses to their loved ones. These findings are part of a growing, global recognitionof the ’far-reaching impacts of the climate crisis on food security, human health, and social equity.
In 2023, the world convened at the United Nations Climate Change Conference (COP28) in Dubai, UAE, agathering characterized by its ambitious agenda to tackle the pressing issues of climate change. COP28
stood out for its landmark decisions, including a unified pledge by nearly 200 countries to transition awayfrom fossil fuels. This commitment, a first in COP’s history, aimed at achieving “deep, rapid, and sustained
reductions” in GHG emissions. The conference also underscored climate finance challenges, theimperative to triple renewable energy capacity, and the much-needed focus on climate adaptation andresilience.

A World of Good: San Miguel's Sustainability Agenda
Against this backdrop, San Miguel reiterates its commitment to delivering impactful and lasting solutions
that resonate with the needs of all Filipinos. Our sustainability agenda, encapsulated in our “A World ofGood” firmly declares our intent to foster positive returns across all facets of our operations,stakeholders, and the broader society.
Our sustainable agenda is built on three foundational pillars: Kalikasan (Good for the Planet), emphasizing
our dedication to environmental stewardship; Kalinga (Good for People), reflecting our commitment tosocial equity and community welfare; and Kasaganahan (Good for Progress); underscoring our role indriving economic growth and innovation.
Through “A World of Good,” San Miguel aims to deliver nuanced, impactful solutions that address theurgent needs of our planet and people, reinforcing our commitment to sustainability and nation-building.

27

A W O R L D OF G O OD
We envision a world of good, where our business fosters a sustainable future that is good for the planet,good for people, and good for progress, benefiting present and future generations of Filipinos.

KALINGAGood For People
We uplift the well-being of all the lives
we touch, including people within ourorganization and in our communities.
KALIKASAN
Good For Planet
We protect and nurture theenvironment, through urgent
climate action, efficient resource
management, and a circular
economy approach.

KASAGANAHAN
Good For Progress
We promote inclusive economic
growth and ensure that progressoccurs in harmony with nature andsociety, so that all may enjoy
comfortable, secure, and prosperous
lives.

A WORLD OF GOOD
We envision a world of good, where our business fosters a sustainable future that is good for the planet,good for people, and good for progress, benefitting present and future generations of Filipinos.

KALIKASAN: Good for Planet
We protect and nurture the environment, through urgent climate action, efficient resource management,
and a circular economy approach.

KALINGA: Good for People
We uplift the well-being of all the lives we touch, including people within our organization and in ourcommunities.

KASAGANAHAN: Good for Progress
We promote inclusive economic growth and ensure that progress occurs in harmony with nature andsociety, so that all may enjoy comfortable, secure, and prosperous lives.

28

1.2 Our Sustainability Goals
GRI 2-22

In 2022, San Miguel embarked on redefining sustainability within our operations and across our value
chain. With a clear sustainability agenda anchored in the United Nations Sustainable Development Goals,
we established goals that resonate with our commitment to our planet, our people, and our sharedprosperity. This vision is not just aspirational but operational, with our Board of Directors and top
management playing a crucial role in charting a course towards a sustainable future.
Setting Our Sights on 2030, 2040, and 2050
Our sustainability strategy is framed within three strategic horizons—2030, 2040, and 2050—eachmarking critical milestones on our journey towards sustainability. These timelines reflect ourcomprehensive approach, addressing immediate challenges while laying the groundwork for long-term
ambitions.
In 2023, we have built upon the solid foundation set the previous year, focusing on the development ofactionable roadmaps for our sustainability goals. This process has been a collaborative endeavor,
engaging every business unit within the SMC family. Together, we have mapped out initiatives that span
short to long-term horizons, ensuring that each step taken is a step towards our overarching goals.
Our Commitment to Transparency and Impact
In the sections that follow, we detail the major milestones and metrics that will guide our progress acrosseach of the four goals. These metrics are a reflection of our commitment to transparency, allowing us tomeasure and share our achievements and challenges alike. Through this rigorous approach, we aim tomeet and exceed our sustainability ambitions, driving positive impact for our planet, people, andprosperity.

29

A. Major Milestones for Our Sustainability Goals
GRI 2-22

Establish a circular economy approach by 2040
We are optimizing our resources by eliminating waste and pollution, circulating products and materials
at their highest value, and regenerating nature.

MAJOR MILESTONESSHORT-TERM

MID-TERM

LONG-TERM

2023 - 2025

2026 - 2030

2031 - 2040

METRICS

1

GLASS RECOVERY AND RECYCLING

1.1

Expand Supplier Networks (GSMI): Work on
expanding territorial bottle suppliers and installcentralized bottle washing facilities in key areas

Percentage of reused glass
bottles to total bottles used

1.2

Strengthen Retrieval Systems (SMB, SMYPC):
Reinforce the “Balik Bote” program to ’improve
recovery of used glass containers and cullets
through partnerships with LGUs, waste
collectors, companies, schools and communities

Volume of waste glass retrieved
and % recycled component in
new glass bottles

1.3

Recovery and Recycling Improvements (SMB):
Improve recovery processes for used glass
containers to enhance the quality of empty
bottles retrieved

1.4

Scale Up Recycling Efforts (GSMI): Strive toincrease the percentage of glass retrieved andrecycled, with a target of reaching a 75%
retrieval rate by 2026

1.5

Packaging Facility: Explore and set up modern
cullet processing plants for post-consumer glass
containers

1.6

Efficiency Improvements: Continue to optimize
recovery and recycling processes

2

PLASTIC REDUCTION AND RECYCLING

2.1

Reduction of Single-Use Plastic (ALL): Bring ourown water bottles, cups, food containers andutensils

2.2

Sustainable Products (SMYPC): Introduce monomaterial flexibles packaging

2.3

Reduction of Plastic in Packaging andDevelopment of Sustainable Alternatives(SMFB, Petron): Aim for a reduction in the plastic
footprint through design modifications andcollaboration with suppliers

2.4

Recycling of Lube Containers (Petron):
Implement a recovery program for lube
containers through programs involving service
stations, car care centers and customers

2.5

Recycling of Plastic Sacks (SMF): Develop morepartnerships to facilitate recycling of plastic sacks

2.6

Packaging Facility (SMYPC): Set up a
Sustainability Center in Laguna for recycling rigid
plastics

2.7

Plastic Use Reduction in Transportation(SMILSI): Implement strategies to reduce the useof plastic in transportation and logistics.

2.8

Collaboration and Partnerships: Foster stronger
relationships with LGUs, suppliers, communities,
and other stakeholders to secure a consistent
supply of recyclable materials.

2.9

Use of Plastic Waste to Replace Coal (Cement):
Establish the viability of different co-processing
systems to convert plastic waste to energy% acceptance of bottles vs. total
received

Plastic footprint reduction
Reduction in single-use plastic
items within the company vis-avis baseline
Volume of plastic waste
diverted from landfill andoceans through recycling orother means

Volume of plastic waste used
and % coal replaced

30

3

REPURPOSING OF MANUFACTURING
BY- PRODUCTS

3.1

Repurposing of spent grains and spent yeast(SMB): Rehabilitate or install new dryers toincrease volume transferred to animal feeds

3.2

Use of company by-products for animal feeds(SMF): Develop additional by-products as feed
ingredients and maximize the use of spent
grains, spent yeast, pollard, rendered poultry
offal and feathers in feeds

3.3

CO2 Recovery (SMB, GSMI): Recover CO2
generated by fermentation for sale to beveragecompanies

3.4

Coal ash recycling (Cement): Maximize use ofcoal ash to replace clinker in cement

3.5

Organic Fertilizer: Scale up the production oforganic fertilizer from poultry manure comingfrom broiler complexes

4

WASTE MANAGEMENT AND
SEGREGATION

4.1

Waste Segregation (ALL): Reinforce companywide waste segregation practices to minimize
landfill use

4.2

Eco-brick Project (Cement): Collaborate on thecreation of eco-bricks as a sustainable waste
solution

5

HAZARDOUS AND NON-HAZARDOUS
WASTE DISPOSAL

5.1

Safe Disposal of Hazardous Waste (Multiple
BUs): Ensure proper treatment and disposal ofhazardous waste in compliance with regulations

5.2

Hazardous waste storage facilities (Petron):
Establish facilities for the safe storage ofhazardous materials at service stations

6

WATER CONSERVATION AND
WASTEWATER RECYCLING

6.1

Rainwater harvesting systems expansion(Multiple BUs): Deploy rainwater harvesting to
reduce reliance on scarce water sources

6.2

Water treatment and recycling initiatives(Multiple BUs): further develop systems to treat
and reuse water within company operations

6.3

WWTF installation at service stations (Petron):
Install wastewater treatment facilities toenhance environmental protection

Volume and value of each typeof by-product diverted fromlandfill and percentage to totalmaterials used
Number of plants capable ofrecovering CO2
Volume of CO2 recovered andreusedVolume and % of coal ash
reused or recycled
Volume of fertilizer produced
from poultry manure

Waste Segregation Compliance:
Verify facility compliance with
waste segregation policies
Eco-bricks Produced: Volume ofeco-bricks produced, %inclusion of recycled material

Verify that all hazardous waste
storage and disposal meets legal
and regulatory standards% of scarce water used vs.
projected demand based on
baseline
Volume of rainwater used andpercentage contribution to total
water consumption

6.4

Groundwater recharging (SMB): Track progressof ongoing trials

Volume of water treated andreused and percentage
contribution to total water
consumption.

6.5

Desalination plant feasibility studies (Cement,
Power, SMB): Assess the viability of desalination
technology for water supply

Document feasibility studies andaction steps

7

LEADERSHIP AND CONTINUOUS
IMPROVEMENT

7.1

Sustainability Leadership: Cement SMC’s position
as a leading company in circular economy
practices, outperforming recycling and waste
reduction targets

7.2

Continuous Improvement: Persist in theinnovation and enhancement of recycling andrecovery processes, keeping pace withtechnological advancements and market trends

31Net zero by 2050
We are minimizing our GHG emissions by investing in clean energy technologies and carbon reduction
programs toward Net Zero.

MAJOR MILESTONES
1

ENERGY EFFICIENCY

1.1

Replacement of Aging Equipment: Upgrade tomore efficient motors and equipment
Energy-saving Device Use: Install variablefrequency drive controllers and other energysaving devices
Maintenance Program Improvement: Enhancemaintenance for energy efficiency at all plants
Lighting and Air Conditioning Upgrade: Shift to
LED lighting and use of inverter-type airconditioning for energy conservation
Solar Panel Installation: Fit solar panels in
offices for renewable energy use
Fleet Electrification: Acquire hybrid and electricvehicles (EV) to reduce emissions
Green Data Center: Implement energy-efficienttechnologies in data centers
BESS: Complete a 1000 MWh system for optimalenergy utilization

1.2

1.3
1.4

1.5
1.6
1.7
1.8

SHORT-TERM

MID-TERM

LONG-TERM

2023 - 2030

2031 - 2040

2041 - 2050

METRICS

Reduction in energy
consumption and energy
intensity
Percentage of total energy use
from renewable sources
Reduction in total GHG
emissions and intensity
Decrease in GHG emissions
from the electrification of theCompany’s vehicle fleet

2

TRANSITIONING FROM FOSSIL TO
CLEANER FUELS

2.1

Alternative Fuels: Use cleaner fuels and biomass
alternatives for boilers and generators.

Amount of alternative fuelused to replace traditional fuels

2.2

Biodiesel: Complete the Petron Coco Methyl
Ester (CME) plant to increase biodiesel supply

Volume of production and %inclusion in diesel fuel3

RENEWABLE ENERGY INITIATIVES

3.1

Waste to Energy Projects: Develop projects thatconvert waste to usable energy
Solar Energy Expansion: Solar energy projects in
Bataan & Isabela with initial capacity of 800 MW
Hydroelectric Projects: Establish viable sites for
new hydroelectric power plants
Wind Energy Development: Establish viable
sites for wind energy projects
RE Expansion: Pursue expansion of renewableenergy initiatives and explore other emerging
technologies and innovations that may emerge

3.2
3.3
3.4
3.5

4

OFFSETTING CARBON EMISSIONS

4.1

Nature-Based Solutions: Engage in large-scale
tree planting and mangrove restoration andquantify CO2 emissions captured

4.2

River Rehabilitation: Extend river clean-up
efforts to identified rivers in Central andSouthern Luzon to mitigate flooding
Coral Restoration and Fish Sanctuary:
Implement coral restoration and fish sanctuary
projects to protect marine biodiversity

4.3

5

RESEARCH AND DEVELOPMENT

5.1

Sustainable Aviation Fuel (SAF): Research on
SAF technologies that may fit Philippine
requirements and conditions
Carbon Capture, Utilization, and Storage(CCUS): Research and develop CCUS
technologies to mitigate remaining emissions

5.2

Total installed capacity of
renewable energy projects
Total annual energy output
from renewable sources

Number of trees planted andthe estimated carbon
sequestration
Volume of waste removed fromrivers, kilometers cleaned
Number of corals planted, fishbiomass and no. of species vs.
baseline

Monitor the adoption andimpact of new sustainable
technologies introduced
Track the progress indeveloping and deploying CCUS
technologies

32At least 15 million people uplifted by 2030
We are creating equitable and transformative pathways to a sustainable future for our employees, ourcustomers, our communities, our nation, and beyond.

MAJOR MILESTONES
1FAIR LABOR PRACTICES

1.1

Improvement of Working Conditions: Ensure fairand safe working conditions for all employees

2

EMPLOYEE ENGAGEMENT AND
DEVELOPMENT

2.1

Employee Volunteerism and Training: Encourage
employee participation in community projects
and provide essential training

SHORT-TERM

MID-TERM

2023 - 2025

2026 - 2030

METRICS

Ensure all business operations
and partners adhere to fairlabor practices

Number of volunteers and total
hours of volunteer work
completed by employees
Qualitative feedback fromparticipants

3

SAN MIGUEL FOUNDATION –BETTER WORLD PROGRAMS

3.1

Feeding: Sustain food rescue and feeding
programs for enrolled families

Number of beneficiaries of
feeding programs

3.2

Capacity Building Initiatives: Implement various
training and educational programs to empower
individuals and communities

Number of participants incapacity building programs andtheir families

4

HEALTH AND WELLNESS

4.1

Health Services Expansion: Provide community
clinics, medical missions, and health education tounderserved areas

5

EDUCATION SUPPORT

5.1

Scholarship Programs: Offer college scholarships
and short-term courses to enhance educational
opportunities

Number of operational healthclinics and successful medical
missions; number of patients
servedNumber of scholarships
awarded and course
completions
Number of scholars and course
graduates who are gainfully
employed or engaged inbusiness

6

LIVELIHOOD AND SKILLS DEVELOPMENT

6.1

Agricultural and Entrepreneurship Training:
Provide training in agriculture and small business
management to increase local livelihood
opportunities

Number of individuals
completing livelihood and skills
training
Number of individuals who are
gainfully employed or engaged
in business

7

GROWTH OF MSMEs

7.1

Business Development: Direct engagement with
farmers for the supply of corn and cassava;
provision of generic glass containers for small
businesses; community reseller program

8

CUSTOMER WELFARE AND RESPONSIBILITY

8.1

Product Improvement and Accessibility: Develop
and market healthier and more affordable
product options

Increase in revenue andsustainability of supported
MSMEs

Number of healthier productalternatives developed andvolume sold33

9

INFRASTRUCTURE DEVELOPMENT

9.1

Bulacan Bulk Water Project: Provision of potablewater to communities within the served area ofthe project

9.2

Tollways and Mass Rail Transit: Building
transportation infrastructure to increase access,enhance productivity and spur economic growth

9.3

Tollways: Expand the benefits of transportation
infrastructure to farther provinces north andsouth of Luzon

9.4

Airports: Provide a long-term solution to air
traffic congestion and promote tourism, businessand investments in the country

9.5

Ecozones: Develop selected areas in close
proximity to Company operations into industrial
parks or ecozones to attract investments andcreate new jobs

10

EXPANSION OF INITIATIVES

10.1

Continue to expand and scale the initiatives
started in the short-term phase, with a focus on
increasing reach and impact to reach the goal of
uplifting 15 million people by 2030

Economic and social benefits
are measured per project; may
include increase in physicalmobility of people andproducts, reduction in the costof goods delivered, enhanced
productivity and others

A fully sustainable and ethical supply chain by 2040
We are upholding sustainable best practices across our supply chain ecosystems that will benefit current
and future generations.

MAJOR MILESTONES1CORPORATE POLICY ADOPTIONAND ENGAGEMENT

1.1

Adoption and Implementation of Corporate
Policies: Reinforce awareness of corporate
policies, particularly in areas like business ethics,
whistleblowing, and diversity. and instituteprograms to support implementation

SHORT-TERM

MID-TERM

LONG-TERM

2023 - 2025

2026 - 2030

2031 - 2040

METRICS

Percentage of employees
reached and frequency ofrefresher training
Number of initiatives done topromote awareness of specificpolicies
Number of reported policy
violations and adequacy ofresolution

2

SUPPLIER ENGAGEMENT ANDSUSTAINABILITY TRAINING

2.1

Supplier Categorization and Engagement:
Categorize suppliers based on spend andcriticality
Sustainability Training for Buyers and Suppliers:
Develop and implement training modules

2.2
2.3

3

Sustainability Dialogues and Supplier
Collaboration: Facilitate discussions toencourage collaboration on sustainability
initiatives

Number and percentage ofsuppliers engaged; percentageof spend represented
Completion and attendance
rates of sustainability training
programs
Number of sustainability
projects initiated with
suppliers

SUPPLIER PERFORMANCE AUDITINGAND INCENTIVES

34

3.1

3.2
3.3

4
4.1

4.2

4.3

Audit Plans and Social Compliance: Establish andconduct supplier audits to ensure ESG
compliance
ESG Maturity in Supplier Selection: Include ESG
performance in the supplier selection process
Incentive Program for Supplier Sustainability:
Develop and monitor criteria for rewarding
sustainable practices

DIGITALIZATION FOR EFFICIENCYAND TRANSPARENCY
Automation of Internal Processes: Streamline
and automate internal processes to increase
efficiency
Business Portal for Efficient Transactions:
Develop a platform to streamline vendor anddistributor transactions
ERP Migration to Advanced Systems: Upgrade
ERP systems to S4/HANA for enhanced data
management

5

DIGITALIZATION TO DRIVE
BUSINESS INTELLIGENCE

5.1

Analytics and KPI Monitoring: Utilize analytics for
performance monitoring
B2B eCommerce Platform for Distribution:
Implement online commerce solutions for
distributors and community resellers

5.2

6
6.1

SUPPLY CHAIN TRACEABILITY
AND SAFETY
Tighter Safety and Efficiency Monitoring:
Implement robust automated systems formonitoring safety and efficiency across all
operations

Percentage of suppliers
audited for ESG complianceand their performance ratings
Incorporation rate of ESG
criteria in supplier selection
processes
Number of suppliers
recognized under thesustainability incentive
program

Reduction in transaction
processing time and increasein user satisfaction
Successful migration to
S4/HANA with improved data
management capabilities

Number of data analytics
projects implemented;
benefits of each
Adoption rate and transaction
volume on the B2B
eCommerce platform

Reduction in safety incidents
across operations
Efficiency improvements
realized through tighter safety
and efficiency monitoring
systems35

2 Kalikasan: Good for Planet
2.1 Climate Change Action
GRI 305

Scientists have declared the year 2023 to be the hottest year on record, with the Earth experiencing an
average land and ocean surface temperature 1.19oC higher than in the previous century. Thisphenomenon has induced extreme climate events such as destructive floods, heavy snows, severe
storms, heat waves, and wildfires.
In the wake of such devastating events, the urgency of addressing climate change has never been more
apparent. Developed countries, having reaped the benefits of industrialization powered by fossil fuels,
now face the imperative to reduce their emissions drastically. However, the situation is far more complex
when considering the needs of developing countries striving to drive economic growth and improve thelives of their citizens.
A balanced approach is essential amidst this complexity. While the world collectively seeks sustainable
pathways to development, the immediate priority lies in building resilience to cope with the impacts ofclimate change. Nowhere is this urgency more palpable than in countries like the Philippines, which areparticularly vulnerable to the ravages of climate change due to our geographical location, exposure tonatural hazards, socio-economic conditions, and limited adaptive capacity.
In the Philippines, a phasedown of fossil fuels may require an extended period. In the short term, it isessential to provide a reliable source of energy to stimulate growth, improve economic equity and uplift
the lives of many poverty-stricken Filipinos.
In this context, San Miguel is exerting efforts to ensure that fossil fuels are used as efficiently as possible
and that emissions are minimized by adopting advanced technologies. Strategies are being implemented
in sectors such as power generation, oil refining, cement production and consumer goods manufacturing,where energy utilization and emissions are being optimized in relation to the corresponding output.
In the immediate term, the Company has outlined a roadmap focused on energy efficiency, developmentof biofuels and the setup of waste-to-energy facilities. These initiatives aim to mitigate emissions, while
simultaneously bolstering energy sources. Furthermore, there is a concerted effort to ramp up capacity
for renewable energy generation, including hydro, solar and wind power, alongside the implementationof BESS to enhance grid stability.
Looking ahead to the midterm, San Miguel envisions a significant expansion of renewable energy
capacities, gradually reducing reliance on coal and other fossil fuels. By investing in clean energy
infrastructure and fostering innovation, the Company aims to transition towards a more sustainableenergy mix that aligns with its long-term Net Zero goal.
Ultimately, the journey towards sustainability requires a multi-faceted approach, balancing theimmediate needs of economic development and energy security with the imperative of addressing
climate change. Through concerted efforts and strategic planning, San Miguel is charting a course
towards a more resilient and sustainable future, where the phase-out of coal plants becomes not just a
possibility but a reality.

A. Greenhouse Gas (GHG) Emissions
GRI 305-1 | GRI 305-2 | GRI 305-4 | GRI 305-5

Global energy related GHG emissions increased by 1.1% according to a 2023 Report by the International
Energy Agency (IEA). This estimate is based on the IEA’s detailed, region-by-region and fuel-by-fuelanalysis of the latest official national energy data, supplemented by data on economic and weather
conditions. In the same report, emissions reached 37.4 Gigatons (Gt)1, representing an increase of around1

This includes emissions from energy combustion, industrial processes, and flaring.

36

410 million tons, which continued the recent trend of GHG emissions growing more slowly compared to
global economic activity.
San Miguel fully understands the need for stronger climate action. With this in mind, and in line with oursustainability goals, we have created a Net Zero Roadmap to 2050. This is our Company’s response to theglobal call to curb GHG emissions and play our part in achieving the 1.5⁰C global target.
SMC’s roadmap to Net Zero outlines our clear pathway to achieving Net Zero GHG emissions andrepresents our significant contribution towards helping our country meet its Nationally Determined
Contribution (NDC) under Decision 1/CP.21 of the Conference of Parties of the United Nations Framework
Convention on Climate Change. In 2021, the Philippines committed to reducing and avoiding 75% of GHG
emissions, with 2.71% being unconditional, for the 2020-2030 period.
Our Net Zero initiatives are categorized as follows: 1) energy efficiency; 2) replacing coal with cleaner
fuels; 3) renewable energy projects; 4) offsets; and 5) research & development. These categories will
guide our business units in crafting their strategies to contribute to our concerted efforts towards the
Net Zero target.
GHG EMISSION INTENSITY
2023
2022
Fuel & Oil (Integrated Refinery &Co-Generation Facility)
Power
CementOther Businesses in Scope

54.01

58.10

0.82
0.58
2.27

0.92
N/A*
2.40

Unit
MT CO2e / Mn Barrels of Crude
Processed
MT CO2e / MWh
MT CO2e / MT Volume
MT CO2e / Mn PhP* 2023 scope includes ECC and SCII, in addition to NCC.
** This includes Food and Beverage, Packaging, Infrastructure, Properties and others.

For 2023, we are reporting our GHG emission intensity by breaking out three energy-intensive businesses
that account for 95% of total emissions and aligning their measurement to industry peers. The balanceof 5% of our GHG emissions are reported based on intensity per million pesos of revenue.
Our Fuel and Oil business decreased its GHG emission intensity by 7% based on the volume of crude oilprocessed into different fuel products. The decrease comes from efficiency improvements owing tohigher refinery utilization to serve increasing fuel demand in the country.
Following the drafting of our Net Zero Roadmap, we have initiated various energy efficiency programs aswell as renewable energy projects to mitigate GHG emissions of our business units.
We have installed a flare gas recovery system (FGRS) at our Petron Bataan Refinery (PBR) since 2012. The
FGRS recovers the by-product gases from the petroleum refining process and reuses them as feedstockin the refinery. This system minimizes the amount of flare gas that our refinery must burn and significantly
reduces GHG emissions. PBR set a goal to reduce GHG emission intensity by 25% by 2025, using 2018 asa baseline. To date, they have already achieved a 31.8% reduction in GHG emissions, significantly aheadof target.
Petron’s storage and distribution terminals utilized 126 MWh of electricity from solar energy,
contributing to the overall reduction of CO2 emissions. We have also started the first phase of the 175
kWp solar panel installation in our New Lube Oil Blending Plant. The terminals are already using solarpowered lamps and will install an additional 503 kWp of solar panels at five locations this year.
For our Power business, the switch to more efficient and environmentally friendly technologies affirms
our Net Zero commitment. Our Masinloc Thermal Coal-Fired Power Plant in Zambales demonstrates this.
The power generated by this plant comes from three units with a combined designed capacity of 995
MW, but over time, two units deteriorated due to age, wear and tear, bringing power output down to
575 MW. Masinloc took this opportunity to improve the plant’s performance and simultaneously upgrade
its fuel flexibility and emission reduction capabilities by switching to a modernized design andconfiguration of its steam turbines, replacing traditional static classifiers with the more advanced
dynamic type rotary separator, leading to higher boiler efficiencies. This brought the plant’s power37

capacity to more than 1,000 MW. In addition, it achieved a fuel efficiency improvement of more than
700kWh/BTU and an 11% GHG emission reduction, surpassing the 7.5% target. With the success of these
initiatives, the plant is considering replicating these efforts in the remaining unit and the planned
additional two expansion units.
From 2020, our Power business established an ESG Roadmap to ensure sustainability is integrated into
every aspect of its operations. To advance the Net Zero agenda, SMGP’s strategy is anchored on the
Collaborative Action for a Resilience-focused Enterprise (CARE Pathways) framework. CARE Pathways
clearly outline the economic, environmental, social, and governance objectives of our Power business.
Foremost among the environmental goals is ensuring that emission reductions along its supply chain andoperations adhere to and support the international agreements to which our country is committed. Our
Power business unit, while still the biggest contributor to our GHG emissions, lowered GHG intensity by
11% compared to 2022, from 0.92 to 0.82 MT CO2e/MWh.
Our Power business is transitioning to low-carbon and cleaner sources of energy. Cognizant of ourcountry’s plan to reduce GHG emissions, we also fully recognize the global energy ‘Trilemma’—that is,
the need for an energy system that is not only environmentally sensitive but also provides an affordable
and stable energy supply for the benefit of all Filipinos. Balancing these three goals, our Power businesshas increased the use of LNG and has already installed 580 MWh across 16 sites as part of the 1000 MWh
BESS project initiated by SMC. This project will support our country’s ancillary service and grid stability
and provide the necessary infrastructure for our expansion into additional renewable energy capacities.
Power has also started the technical assessment and integration of other renewable energy sources, suchas solar, into our current power portfolio, marking a significant step in our energy transition pathway.
GHG emission intensity for our Cement business remains within target despite including ECC and SCII in
our reporting coverage for 2023.
Cement has implemented the following energy efficiency initiatives: i) use of variable frequency drives(VFDs); ii) use of capacitor banks; iii) metering of motor control centers; iv) optimization of compressed
air utilization; and v) preparation for our cement-wide implementation of an Energy Management System
based on ISO 50001. Implementing these initiatives resulted in a total reduction of 263,639 GJ of fuel andelectricity. In addition, overall optimization of cement manufacturing operations is ongoing across all ourcement plants. We continuously improve by operating only the efficient cement production lines andperforming regular maintenance activities on less efficient facilities to reduce energy consumption and
GHG emissions. Moreover, we use solar energy in our offices and roadways further supporting ourtransition to the long-term use of renewable energy.
The rest of our businesses combined brought down their emission intensity by 6% compared to last year.
This was achieved through various energy efficiency programs coupled with an increase in their total
sales revenue.
The Spirits division, through Ginebra San Miguel’s distillery and bottling facilities, was able to reduce a
total of 536.7 MWh of electricity utilization. The savings of GSMI were achieved through a combinationof the following initiatives: i) switching to more energy-efficient equipment and technology such as VFD
motors and LED lighting fixtures; and ii) using solar-powered lamps for illuminating streets, roadways,
perimeters, emergency routes, warehouses, offices, and restrooms in all of their manufacturing facilities.
Similarly, the Food division reduced its energy utilization by 32,660 GJ in existing facilities, intensifying its
energy conservation initiatives by strictly adhering to energy-saving measures in its offices andmanufacturing areas. Increasing renewable energy use, such as biomass and solar, combined with using
more energy-efficient and environment-friendly equipment for air conditioning, air compressors, andwarehouse/storage activities, such as electric fork lifts, contributed to the overall energy savings achievedby these facilities.

38

B. Our Scope 3 GHG Emissions Boundaries
GRI 302-2 | GRI 305-3

SMC has begun the process of reviewing the indirect emissions resulting from our value chain activities
in order to develop the Company’s full GHG footprint. We used the GHG Protocol Scope 3 Standards as
guidance for this boundary-setting activity. The screening process was undertaken in collaboration withbusiness leaders and a team of sustainability champions across the SMC group to determine which of the
15 categories would be included in our initial Scope 3 boundary. Each category was reviewed for its
relevance to the business units’ operations, estimated size, and the accessibility of data.
Table of SMC’s Scope 3 Boundary
Category
Explanation
1 – Purchased goods
This category covers the cradle-to-gate emissions from the materials
and servicesand services procured by SMC. Many of our businesses rely on input
raw materials for their manufacturing processes. Some examples
include agricultural commodities used in Food and Beveragecompanies and raw materials such as limestone and crude oil used in
the Cement and Fuel and Oil companies. Also included here are thethird-party tolling services used by the Food group to process some of
their products.
2 – Capital goods
This category covers the cradle-to-gate emissions from the capital
goods acquired by SMC. This will be reported by capital-intensive
businesses such as Packaging, Power and Properties, while the otherbusiness units consider how to develop reliable data for this category.
3 – Fuel and energy
Category 3 covers emissions associated with the extraction andrelated activities
transportation of fuel and with the generation of energy purchased by
SMC. Our Power and Cement businesses rely on coal or purchase large
amounts of energy for their day-to-day operations.
4 – Upstream
Category 4 are the emissions generated from third party
transportationtransportation services paid for by SMC. This can include the emissions
and distribution
from the transportation of goods from suppliers to our plants andbetween our facilities. And from the use of third-party warehouses for
raw materials.
9 – Downstream
This category covers the emissions generated from third party
transportation andtransportation paid for by SMC to deliver goods to our customers or
distribution
from the use of third-party warehouses to store finished goods,
whether for an intermediate customer or the end consumer.
11 – Use of soldThis category includes emissions from the use of goods sold by SMC
products
such as the gasoline and diesel products sold by our Fuel and Oilcompany.

13 – Downstream
leased assets

During our initial scoping exercise, it was determined that category 11
emissions would contribute a very significant portion of our total
Scope 3 emissions.
Emissions from assets owned by SMC but operated by third
parties fall under this category. Part of our Properties businessis leasing out office spaces to third party companies.

SMC intends to gather data on Scope 3 emissions based on the above categories within 2024 and start
reporting on these in 2025. We will continue to develop our full GHG inventory to better understand ourcomplete environmental impact. By looking at our upstream and downstream emissions, we can gain
better insight on the full impact of our entire value chain, including the manufacturing, distribution, anddisposal of our goods.

39

C. Non-GHG Emissions
GRI 305-6 | GRI 305-7

Nitrogen oxides (NOx)
Sulfur oxides (SOx)Particulate matter (PM)
Carbon monoxide (CO)Persistent organic pollutants (POPs)
Volatile organic compounds (VOCs)
Hazardous air pollutants (HAPs)

NON-GHG EMISSIONS
2023
12,653.96
37,019.71
3,531.12
7,698.072022
14,806.23
39,850.22
2,991.93
7,500.94

Unit
MT
MT
MT
MT

Not being monitored*2022 numbers were restated. Data submitted last year was found to be incomplete.
Mitigation of non-GHG emissions is also an important endeavor that San Miguel takes into consideration.
We understand that these gases can have significant environmental and health impacts if not properly
managed.
In 2023, our NOx and SOx emissions decreased by 14.5% and 7.1%, respectively. On the other hand, there
was an 18% increase in particulate matter emitted. Two newly built facilities used rice husk as fuel forboilers, aligning with the mandate to shift to renewable energy utilization. Regular monitoring ofemissions and the installation of air pollution control devices are ongoing in these facilities to ensure theymeet the air quality standards set by government regulators.
Our Power and Fuel and Oil businesses, highly aware of the environmental and health hazards caused bythese non-GHG emissions, continuously implement good air pollution control practices. In the refinery,
we ensure adequate capacity at the back end to process acid gas. We also conduct our gas flaring
activities in a manner consistent with international air pollution control practices to minimize emissions.
Flaring is an engineering practice that allows process equipment to release gases to a device (a flare)
where they can be quickly and safely incinerated. Flares prevent damage, fires, and explosions, and mostimportantly, injuries to our employees. Flaring also converts noxious and odorous gases released inemergencies into less hazardous and objectionable emissions by burning the gases. At Petron, flares areused optimally in process areas to prevent hydrocarbons and waste gases from being released directly
into the atmosphere.
Our power plants are fitted with state-of-the-art air pollution control devices such as flue gas
desulfurizers, electrostatic precipitators, limestone injectors, and catalytic reducers. We use supercriticalboilers that operate at higher temperatures and pressures for more efficient power generation coupledwith a CFB to ensure lower CO2 emissions.
The supercritical boilers we installed allow our power plants to accommodate supercritical throttlepressures along with an increase in throttle temperatures, resulting in cost reductions in fuel usage andhandling, flue gas treatment, and ash disposal. They are designed to take full advantage of variable
pressure turbine operation.
CFB technology, on the other hand, provides a way for us to indirectly burn the fuel and heat the bed
instead, which produces less emissions and pollutants in the combustion process. Moreover, our power
plants are equipped with Continuous Emissions Monitoring Systems (CEMS) that provide us with instantmonitoring and real-time adjustments to ensure that our emissions remain well below the limits set bygovernment regulators and global benchmarks, such as the DENR and World Bank, respectively.
In 2023, our CO emissions increased by 2.6%, due to the increased utilization of non-renewable fuelacross our business units. This increase was driven by our businesses’ eager response to regain theeconomic losses wrought by the pandemic and to contribute to our country’s economic recovery. San
Miguel ensures that we more than adequately manage our businesses’ emissions by continuously
investing in energy-efficient and environmentally sound technologies and adopting international bestpractices to reduce and/or avoid them as much as possible. This commitment is part of our Company’seffort to preserve air quality, as outlined in our sustainability framework.
40

2.2 Resource Management
GRI 302 | GRI 303

Our Sustainability Agenda is aligned with the United Nations Sustainable Development Goals (UN SDGs)
and with our country’s Ambisyon Natin 2040.
The UN SDGs were adopted by the United Nations in 2015 as a worldwide call to end poverty, protect
the planet, and ensure that by 2030, all people enjoy peace and prosperity. Ambisyon Natin 2040, on theother hand, represents the Philippines’ vision and aspiration for our country’s future, characterized by
Matatag (stable), Maginhawa (comfortable) and Panatag na Buhay (secure life).
San Miguel’s A World of Good encompasses both sets of goals. Under this overarching framework, SMC
has integrated efficient resource management into its business strategy, believing that responsible
stewardship of natural resources goes hand in hand with business profit. We are implementing various
programs on energy, water, and our natural ecosystem to mitigate the impacts across all of our businessactivities.
Our Company has been implementing the “Water for All” program since 2017. This program includes
reduction of water consumption and the conservation and efficient use of our water resources. SMC’s
businesses continuously find ways to integrate the recovery of wastewater, increase collection of
rainwater, and utilize desalinated seawater in their operations. Moreover, we continue to find ways toaddress the impacts of our water conservation efforts to ensure responsible and equitable use of waterthat is both environmentally and socially sustainable.
For energy, our business units have formed their own energy conservation teams to closely monitor
each unit’s energy utilization. We have invested in energy efficiency, from switching to higher-efficiency
equipment and devices, to adopting the best available technologies for a smooth, cleaner energy
transition. These efforts are foremost in our Net Zero agenda and demonstrate how our organization
prioritizes energy efficiency as a decarbonization strategy.
For our natural ecosystem, SMC initiated the revival of major river systems in 2020. Three major rivers—
Tullahan, Pasig, and San Juan—in the metropolis, were dredged and cleaned up, with the aim of
deepening and widening them to mitigate decades of siltation and pollution that rendered them unable
to direct flood waters away from our cities. A total of 2.6 million MT was removed from a 44 km span
along these rivers. Moreover, the project is helping to transform the rivers back to vibrant and healthy
ecosystems with less stagnant water, reduced foul odor and return of aquatic life.
Inspired by the positive outcome of these initiatives, SMC expanded the river clean-up activities to theprovince of Bulacan in 2023, targeting the Marilao, Guiguinto and Pamarawan Rivers. To date, 3.1 million
MT of silt and waste have been removed from these rivers. And the efforts continue, with identified rivers
in Pampanga and around Laguna Lake coming next.

A. Energy Management
GRI 302-1 | GRI 302-3 | GRI 302-4

ENERGY CONSUMPTION
Energy consumption (renewable sources)
Energy consumption (non-renewable)
Energy consumption (electricity, heating, cooling, steam)
Self-generated energy which are not consumed
Sold Energy (electricity, heating, cooling, steam)
Total Net Energy Consumption

2023
2022
622,457.50
587,338.84
212,596,958.69 187,956,160.89
5,685,624.80
3,733,719.05
1,761,108.56
1,266,516.69
49,285,854.15 43,575,701.56
171,380,295.39 149,968,033.90

Unit
GJ
GJ
GJ
GJ
GJ
GJ

* 2022 numbers were restated. Energy consumption was recalculated and reclassified for better accuracy.

In 2023, our Company consumed 171.4 million GJ of energy, which is a 14.3% increase compared to theprevious year. The increase was brought about by the improving economic situation due to the waning41

effects of the pandemic and the inclusion of ECC and SCII. Furthermore, there was a 13% increase in nonrenewable energy usage, mostly from our Power, Cement, Fuel and Oil, and Food and Beveragebusinesses to meet the heightened energy requirements of economic recovery.
Our electricity consumption increased by 52%, while the use of renewable energy rose by almost 6%
across our business operations. Electricity and renewable energy comprised 2.6% and 0.3%, respectively,of our Company’s energy consumption in 2023.
OPERATIONAL SPENDING ON ENERGY
2023% Operational spending on energy
32.95
Operational spending on energy
85,860.48
Total Operational Spending
260,560.00

2022
38.26
88,164.87
230,421.20

Unit%
Mn PhP
Mn PhP

Total operational spending on energy increased by 13%, brought about by the resumption of economic
activities and the easing of mobility restrictions caused by the pandemic. However, we were still able torein in our operational spending by almost 2.6% due to various energy reduction initiatives amounting to
2.6 million GJ. We accomplished this by optimizing operations and switching to more energy-efficientequipment across our business operations. Moreover, a 6% increase in our use of renewable energy, suchas solar and biomass, contributed significantly to the reduction in our operational spending on energy.
ENERGY INTENSITY
2023
Fuel & Oil (Integrated Refinery & CoGeneration Facility)
Power
CementOther Businesses in Scope

2022

684

717

6.85
2.46
22.90

7.47
N/A
24.34

Unit
GJ / Mn Barrels Crude
Processed
GJ / MWh
GJ / MT Volume
GJ / Mn PhP* For 2023, ECC and SCII were included, in addition to NCC.
** This includes Food and Beverage, Packaging, Infrastructure, Properties and others.

Our energy intensity for 2023 showed improvements compared to 2022. This is due in large measure toenergy reduction initiatives implemented across different businesses.
For Petron, refining is a complex system of multiple operations, which depend on the properties of thecrude oil to be processed and its array of products. Thus, Petron operates in its own unique way, ensuringthat its refinery produces quality petroleum products while operating in the most energy-efficient andenvironmentally friendly manner possible.
In 2023, Petron used an additional 4 million GJ of energy to process more than 50 million barrels of crude
oil needed to drive economic recovery in the country. The corresponding energy intensity of our refineryand co-generation facility amounted to 684 GJ per million barrels of crude processed, 4.6% lower than2022.
Highly aware of the need to abate our emissions in line with San Miguel’s sustainability targets, Petron
managed to reduce their energy consumption by saving 66,543 GJ in operating their terminals anddistribution network throughout the country.
Petron moves its products via ships through 32 strategically located terminals In 2023, these terminals
managed to save 294.8 MWh of electricity through our various energy conservation initiatives, such as
upgrading to LED lamps and installing air conditioning units equipped with inverter technology. Petron
installed 472 kWp of solar panels in its lube oil and blending plant, marking the first phase of theirrenewable energy utilization. Plans are underway for the second phase of its RE project, which involves
installing an additional 503 kWp of solar panels in five terminals in 2024, bringing our total RE capacity to
982 kWp.
The energy intensity ratio of our Power business decreased by 8.3% in 2023 to 6.85 GJ per MWh. Energy
conservation initiatives in 2023, focusing on “no and low cost” (NOLO) measures that mostly require42changes in existing practices and involve very small investments, contributed to a substantial reduction
in energy and fuel utilization.
No-cost initiatives implemented by South Premiere Power Corp. (SPPC) are operational, such as theadjustment in the frequency and duration of emergency generators and auxiliary boiler testing. Thisinitiative saved about 112,790 liters of diesel fuel, while the adjustment of the air conditioning
temperature setting in offices from 17°C to 23°C saved around 9 MWh of electricity.
A low-cost initiative, such as undergoing ISO 50001 Energy Management System standard certification,
brought tremendous energy savings of about 1,955,400 GJ, with Malita Power Inc. leading the way. Our
Power business is looking towards certification of each unit to reap the benefits of a standardized energy
management system and, at the same time, comply with the Energy Efficiency and Conservation Act of2019 (RA 11285).
In the near term, we will also explore and consider the costs, benefits, and trade-offs of hydrogenproduction among our Power business units through projects that are economically, socially, andenvironmentally sustainable for all our stakeholders. Being involved in the energy business, our Powerbusiness continues to find ways to manage their energy utilization in accordance with our Net Zero goals
and remain committed to reducing their carbon footprint.
Cement is used in a variety of construction projects such as roads, bridges, homes, hospitals, walkways,
and water structures. In the Philippines, the annual demand for cement is around 35-36 million tons perannum (MTPA). With the recent surge in government-led infrastructure projects in 2023, and theaggressive campaign by the Cement Manufacturers Association of the Philippines (CeMAP) to promotelocally manufactured cement, demand is foreseen to exceed 36 MTPA in the coming years.
Our Cement business is one of the major manufacturers of cement in the country. In 2023, with theinclusion of ECC and SCII, energy consumption increased by 15 million GJ while energy intensity was at
2.46 GJ per MT of cement produced.
Under our Net Zero Roadmap, our Cement business has already began implementing energy reduction
initiatives to bring down their energy intensity. Plans are underway to adopt the energy management
system based on ISO 50001 Energy Management Standard. Initially, we have already saved a total of263,639 GJ of fuel and electricity from the use of more energy-efficient equipment and facilities.
We are also considering the use of alternative materials, such as plastics and municipal solid wastes, tomitigate our fuel-related energy intensity and its corresponding CO2 emissions. However, we are making
considerable efforts to study and analyze whether these alternative fuels will not cause further
environmental and social harm in areas where we operate. Our Company understands that energy andmaterial efficiency, as well as low-emission fuels such as natural gas, are key measures in achieving ourshort-term goals of reducing our energy intensity and CO2 emissions. Consistent with our Net Zero target,
we will intensify our research and development activities as well as partnerships to further lower energy
consumption and implement long-term solutions, such as innovative technologies like cement made fromalternative raw materials.
The combined energy intensity of our other businesses decreased by 6% to 22.9 GJ per million Php, thanks
to energy conservation initiatives implemented in 2023.
San Miguel’s Beer and NAB Division reduced energy consumption by a total of 46,245 GJ. Optimizing
energy systems, such as steam and compressed air, and switching to more advanced and energy-efficientequipment and machinery saved 4,140 MWh of electricity and 767,582 liters of fuel across their brewing
and processing operations.
San Miguel Yamamura Packaging Corporation and its subsidiaries, have implemented an energy
management system based on ISO 50001 Energy Management Standard since 2015. In 2023, the group
was able to reduce their electricity usage by 5,597 MWh by applying the basic requirements of the energy
management system, prioritizing their significant energy uses (SE ) to continuously improve the group’s
overall energy performance.
43

The combined energy saved by the other businesses such as the Food, Properties and Integrated Logistics
amounted to 814,229 liters of oil and 3,903 MWh of electricity consumption. Our Company will continue
to address and monitor our energy performance to ensure that our energy intensity remains manageable
across our business units.

B. Water Management
GRI 303-1 | GRI 303-2 | GRI 303-3 | GRI 303-4 | GRI 303-5

San Miguel understands the need to reduce water consumption, which is why our Company has
embraced a more comprehensive approach to water management. San Miguel’s water stewardshipprogram, “Water for All,” is a Group-wide initiative that looks beyond water scarcity. It is a water
stewardship program that considers environmental and financial risks for our Company’s mainstakeholders—the communities where we operate our businesses, the consumers of the different
products we produce, and the investors and shareholders who put their trust in our business operations.

Water withdrawal
Surface water
Ground waterSea water
Rainwater
Produced water
Third-party water
Water discharged
Stored water
TOTAL WATER CONSUMPTION
Water recycled and reused% Water recycled and reused

WATER CONSUMPTION
2023
3,471,354.21

2022
3,064,480.19

1,810.97
27,816.38
3,359,752.85
409.86254.8681,309.29
3,453,834.58
6.25
17,525.88
1,955.23
1.75

1,288.95
25,467.74
2,971,895.76
474.57206.3065,146.88
3,047,591.85(5.50)
16,882.83
1,457.40
1.57

Unit
Megaliters
(ML)
ML
ML
ML
ML
ML
ML
ML
ML
ML
ML
%

* 2022 numbers were restated. Data was reclassified to better reflect water consumption.

In 2023, San Miguel engaged Sustainalytics, a firm that provides high-quality analytical ESG research,ratings, and data to institutional investors and companies. Sustainalytics works with hundreds ofcompanies worldwide and their financial intermediaries to help them consider sustainability in policies,
practices, and capital projects.
Under Resource Use, Sustainalytics rated our Company a perfect score of 100% for both Water Risk
Management and Water Management Programs, substantiated by our close to 19% reduction in our total
water consumption.
For Water Risk Management, Sustainalytics recognized that SMC has integrated water scarcity into its
regular risks assessment and business strategy and reports on water metrics in detail. For Water
Management Programs, they found that San Miguel has a policy and initiatives to reduce fresh water use,
specific targets and deadlines, and regular measurement and reporting of results.
Utilization of desalinated water was, by far, the biggest contributor to reduction in scarce water use. Thiswas implemented at Petron Bataan Refinery and Limay Power Plant where desalination plants remove
mineral salts before the water is used for cooling processes in these plants. Interceptors remove
contaminants then the water is cooled down before returning to the sea. A combined total of 3.4 million
ML of ground water was saved through this initiative.
For NCC, the key to water conservation is its rain catchment pond which has a 315 ML capacity. NCC used
250 ML of rainwater, representing 64% of its total water consumption. The business is planning to expand
the pond’s capacity with an additional 63 ML rainwater catchment facility to achieve their goal of zero
fresh water usage.
44

San Fernando Beverage Packaging Plant installed a reverse osmosis ultrafiltration (RO-UF) water recovery
system which saved the company about 36 ML in 2023. Previously, bleed water went directly to thedrainage and was wasted. With the recovery system, the plant’s filtration waste is reused in the water
treatment facility. In addition, the plant recovers the rinse water which, combined with the water from
RO-UF, supplies the steam generation and cooling systems of the plant.
Ginebra San Miguel’s Mandaue Plant recovers spent rinse water during the soaking process of theirproducts and saved more than 51 ML of water in 2023.
The Purefoods-Hormel Company (PHC) implemented the recycling of chilled water used in the water
shower to cool down the product coming from the heat zone. The company invested in a recirculatingwater shower system and saved 15.6 ML of water in 2023.
Many other projects across various manufacturing facilities contributed to water conservation. Amongthese are: addressing water leaks, recovery of wastewater for utilities and ground maintenance,
switching to more water efficient fixtures, and installation of water meters for better control. Other
initiatives such as installation of rainwater and raw water harvesters and regular maintenance of water
piping systems added significant savings as well.
All told, our water management program, “Water for All,” saved more than 7.5 billion liters of water in
2023.
Our Company’s continuous efforts to reduce our water consumption are deeply rooted in ourcommitment to responsible resource utilization. San Miguel’s sustainable water agenda, focusing on theconservation and efficient use of our water resources, will always be at the forefront and center of ourCompany’s sustainability goals.

2.3 Circular Economy
GRI 301 | GRI 306

SMC has set a key goal of embracing a circular economy approach by 2040 across its operations,acknowledging the paramount importance of sustainable resource utilization by optimizing resource
efficiency and minimizing waste. The demand for resources is poised to escalate as our business expands
into nation building. In response, we are committed to “closing the loop” to shrink our material footprint
and prevent any adverse impacts on the environment.
We have adopted practices of reduction, recycling, and recovery, as well as developed policies andprograms. These testify to our commitment to sustainability, as we strive to be more efficient with thematerials we use and to reduce the amount of waste we generate, fostering better environmental
stewardship.

A. Materials Management
GRI 301-1 | GRI 301-2

Renewable materials used
Non-renewable materials used
Total materials used
% Renewable materials used
Recycled materials used
% Recycled materials used

MATERIALS USED
2023
5,853,712.38
20,628,022.17
26,481,734.55
22.10
1,027,683.61
3.88

2022
5,383,035.14
10,292,968.74
15,676,003.87
34.34
442,526.92
2.82

Unit
MT
MT
MT
%
MT
%

A total of 26.5 million MT of materials was used in 2023 for our operations, marking a 69% increase yearon-year. The increase comes mainly from the inclusion of ECC and SCII, which contributed 9.2 million MT
to the total amount. SMC’s expansion of our other businesses resulted in a 10% increase compared to45

2022. Of the 26.5 million MT of material usage, 77.9% consisted of non-renewable materials, with theremaining 22.1% from renewable materials. Similar to last year’s data, most of the non-renewablematerial usage was attributed to our Fuel and Oil and Cement businesses, in the form of crude oil,limestone, and clinker. This accounted for 97% of the non-renewable materials used this year.
The percentage of our renewable material usage decreased compared to last year; however, the total
weight of materials actually increased by 8.7% due to volume growth of our businesses. Most of ourrenewable materials originate from Food and Beverage, in the form of raw materials for their
manufacturing processes. Together, they contributed 81% of all renewable materials used this year.
Consistent with our circular economy goal, we were able to recycle 1.03 million MT of materials in 2023,
more than double the amount of recycled materials used last year. This significant increase can be
attributed to ECC, which recorded a substantial amount of recycled fly ash and synthetic gypsum. Without
ECC, the increase in recycled material would be only 7%. Other recycled items included glass bottles
sourced from post-consumer stages for reuse by our Beverage businesses, or broken glass cullets recycled
by our Packaging division.

B. Solid Waste Management
GRI 306-1 | GRI 306-2 | GRI 306-3 | GRI 306-4 | GRI 306-5

SOLID WASTE MANAGEMENT
2023
Total solid waste generated
323,108.92
Reused3,919.20
Recycled
264,700.28
Other recovery operations
13,099.23
Incineration (with energy recovery)
146.35
Incineration (without energy recovery)
Landfilling
23,312.91
Other disposal operations
17,930.95

2022
330,553.20
1,487.57
273,076.70
24,055.73
170.506.30
21,194.31
10,562.09

Unit
MT
MT
MT
MT
MT
MT
MT
MT

Our Company’s initiatives under the ecological solid waste management law bore fruit by reducing our2023 solid waste generation by 2.2%. We acknowledge the importance of proper waste management toour business operations and achieve this by finding ways to recirculate by-products and materials at theirhighest value.
The majority of our waste is comprised of spent grains and yeast, along with glass cullets and jars, which
are 44% and 32% of the total waste generated. These materials were diverted back into our operations,where spent grains and yeast were repurposed into animal feeds, while recovered broken glass cullets
and jars were mixed with virgin raw materials to produce recycled glass bottles. In 2023, the total amountof solid waste diverted from disposal reached almost 282 thousand MT, while our plastic waste decreasedby 39% compared with 2022.
We recognize the significance of effective waste management in our business operations and currently
have active initiatives to minimize the waste we produce. This is achieved through strategies focused on
maximizing the recirculation of by-products and materials at their optimal value.
SMC is committed to full compliance with the EPR Act of 2022 (RA 11898). EPR is an environmental
practice and policy approach which assigns brand owners and producers the responsibility for retrieving
and recycling post-consumer wastes, driving the adoption of a circular economy. The law mandates that
the Company recover a minimum of 20% of our plastic footprint by the end of 2023, with incremental
increases leading up to 80% by 2028.
Among the business units of SMC, the obliged enterprises under the EPR law are SMFB and Petron, given
the plastic packaging used for food products, plastic caps and seals for beverages, plastic containers forlubes and promotional materials used for marketing activities. In total, the estimated plastic footprint ofthese companies amounts to 18.2 million MT, thus requiring them to retrieve and recycle 3.6 million MT46

in 2023. Third-party audits of the footprint and diversion are ongoing prior to submission of the EPR
compliance report for 2023 to DENR.
To comply with the law, SMFB tapped the Philippine Alliance for Recycling and Materials Sustainability(PARMS) as their designated Producer Responsibility Organization (PRO) to facilitate compliance with
reporting requirements and work in synergy with other obliged enterprises in developing the waste
diversion industry in the country. For the initial year, SMFB and Petron purchased credits from Plastic
Credit Exchange (PCX) to ensure 100% compliance. By doing so, SMFB effectively supports PCX’s waste
diversion network which includes waste collectors, and contracted facilities for transport, segregation,
shredding, and co-processing of flexible plastics as fuel in cement operations. Processing rigid plastics
into flakes or pellets for use as recycled feedstock in new plastic products is also part of PCX’s network.
In addition, we are proactively developing other initiatives within the Group to reduce our plastic
footprint and build the capacity to divert our own plastic wastes. These include redesigning cap-seals forbeverage bottles, shifting food packaging from multi-layer to monolayer, reducing packaging weight,
developing alternative materials for advertising tarpaulins and promotional items, and others. Standards
for the labelling of packaging to facilitate classification for recycling are also being implemented. Our
Packaging business is actively working on sustainable packaging materials and increasing recycledcontent, while Cement evaluates co-processing of plastic waste as an alternative to coal.

Coal Ash Management
COAL ASH MANAGEMENT
Total coal combustion residuals (CCR) generated
Weight of CCR that was reused or reclaimed
Weight of CCR recycled (through treatment or processing)
Weight of CCR sent externally for further recycling% of CCR recycled

2023
616,448.06
744.94
1,393.27
270,133.80
44.17

2022
566,641.30
29.68
1,655.26
290,797.86
51.62

Unit
MT
MT
MT
MT
%

In 2023, the coal ash generated by our businesses increased by 9%. This was mainly generated from
SMGP’s power plants and Petron Bataan Refinery’s co-generation facility.
The coal ash was successfully diverted to SMGP’s Limay Power Plant and Malita Power Plant, where it
was used as a substitute for virgin inert materials in their CFBs, and to our Cement business as aggregatematerial for cement production. We balance the beneficial reuse of coal ash in our business processes
with potential environmental impacts and make sure that our recycling practices are appropriate anddone in an environmentally acceptable manner. We employ biomats made up of biodegradable natural
fibers, such as straw, coir, and jute, to cover the ash, and prevent erosion and wind dispersal. This way,
we ensure that minimum CCR goes to the surrounding environment while the excess is properly stored
in compliance with DENR requirements.

Hazardous Waste Management
HAZARDOUS WASTE TRANSPORTED
Total hazardous waste generated
Total hazardous waste transported
ReusedRecycled
Other recovery operations
Incineration (with energy recovery)
Incineration (without energy recovery)
Landfilling
Other disposal operations

2023
7,893.45
10,532.94
45.90
4,203.57
1,064.08
256.59193.42
18.88
4,736.192022
9,552.91
8,855.71
113.892,548.14
540.84201.61224.4060.75
5,166.09

Unit
MT
MT
MT
MT
MT
MT
MT
MT
MT

In 2023, the Company generated a total of 7.9 thousand MT of hazardous waste, representing a notable47

decrease of 17.3% compared to the previous year. Consistent with previous years, the predominantcomponents of our hazardous waste were used oil and sludge derived from our vehicles and generators.
We transported a total of 10.5 thousand MT of hazardous waste. The difference between the quantity of
waste generated and transported can be attributed to our practice of collecting and storing hazardous
waste until it reaches a certain threshold before it is properly disposed of. This approach allows for more
efficient and cost-effective transportation and disposal. By consolidating waste shipments, we optimize
logistical operations, while maintaining our commitment to responsible hazardous waste management
and environmental protection.
We successfully diverted 50% of the total hazardous waste transported this year through various
strategies. The used sludge and oil were repurposed as quenching liquid in our refinery process, primarily
through the delayed coker units. The organic waste generated by Food and Beverage was transported bya third-party hauler to a designated bioreactor facility. At this facility, the organic waste underwent a
controlled biological process within the bioreactor, resulting in the production of high-quality fertilizer.
Hazardous waste is subject to stringent regulations enforced by environmental regulatory agencies. We
are fully committed to adhering to all pertinent laws and regulations governing hazardous waste tracking,storage, usage, and disposal. We maintain rigorous compliance measures to ensure that our handling of
hazardous materials aligns with regulatory requirements and industry best practices.

2.4 Biodiversity and Ecosystems
GRI 304 -1 | GRI 304-2 | GRI 304-3 | GRI 304-4

ECOSYSTEM AND BIODIVERSITY
Operational sites owned, leased, managed in, or adjacent toprotected areas and areas of high biodiversity value outsideof protected areas
Habitats protected or restored
IUCN red list species and national conservation list
species with habitats in areas affected by operations

2023
11

2022
9*

Unit
No.

1,861.8
29

112.7414Ha.
No.

*2022 numbers were restated. Previously reported 6; the additional areas are in Malita, Davao Occidental; Ilijan, Batangas; andMangkayan, Benguet.

The sustainable use of natural resources and the preservation of nature are among the main pillars of
our Company’s sustainable agenda. SMC strongly supports and commits to including the protection ofnature in all our business activities. We are highly aware of nature-related risks and have taken steps tomitigate them in our business operations.
In December 2022, governments adopted the post-2020 Global Biodiversity Framework, which presented
a plan of action to combat biodiversity loss and provided direction to all sectors of society on the urgencyof the issue and the need for collective action. San Miguel supports this global goal of halting andreversing biodiversity loss by 2030 and the shared vision of living in harmony with nature by 2050.
Moreover, our Company enthusiastically responded to the national government’s call for a reforestation
program to plant 1.5 billion trees under the National Greening Program (NGP) of the DENR. In 2019, ourPower business launched Project 747, with the goal of planting seven million trees over four thousand
hectares of deforested lands in seven vulnerable provinces in our country. Though it presents a daunting
challenge for our Power business, we are committed to contributing to the NGP and supporting theinternational call for nature-based solutions. To date, we have planted more than 6.5 million trees,
nearing our target well ahead of schedule, replanting 2,800 hectares of upland and 1,200 hectares ofmangrove forests. This project prioritized native and diversified reforestation species for planting toensure more carbon is stored and, at the same time, to increase the productivity and survival rates ofreforested areas. SMC supports mixed reforestation species, as this approach increases resilience toperturbation, is more stable in response to climate extremes, and results in lower tree mortality rates.
The significant increase in the hectarage of protected areas near or adjacent to our operational sites is
attributed to the B-MEG feed mill plant in Impasug-ong, Bukidnon, which is two kilometers from the48

Center for Ecological Development and Recreation (CEDAR) in Barangay Impalutao. Initially areforestation site, CEDAR has evolved into an ecological park, covering approximately 1,703 hectares andhosting four major falls namely: Gantungan Falls, Natigbasan Falls, Dila Falls, and Makabayot Falls.
Declared a protected area for its high indirect biodiversity value as an eco-tourism site, CEDAR is jointly
managed by the LGU of Impasug-ong and the DENR.
The International Union for Conservation of Nature (IUCN) is an acknowledged authority on species
extinction risk and serves as an authoritative compendium of information on the global conservation
status of species. The IUCN Red List tracks and reports on the status and trends of wild species worldwide,
encompassing all major species groups such as plants, fungi, invertebrates, reptiles, and fish. From 2017
to 2020, the I CN Red List of Threatened Species expanded its coverage of the world’s biodiversity by
51% and currently includes 128,918 species, of which 35,765 (28%) are threatened with extinction.
In 2022, SMGP, through South Premiere Power Corporation (SPPC), resumed operations of the Ilijan
power plant located in Batangas after its temporary shutdown. The plant is the largest natural gas facility
in the Philippines, with a rated capacity of 1200 MW. It is the first power facility in the country to use the
500 kV switchyard system and a reverse osmosis (RO) desalination system. The RO system installed is thelargest and most sophisticated of its kind in the country, ensuring that the seawater used for cooling thepower plant does not alter the salinity and aquatic environment of Ilijan, which is a 16-hectare area
declared a fish refuge and sanctuary by the Ilijan LGU.
In 2023, SPPC conducted coral reef monitoring activities in the waters of Ilijan to determine if the species
hosted by the bay were included in the IUCN Red List. SPPC monitored a total of 210 species, 81% of
which were fish species and the remaining 19% coral species. The monitoring activity also discovered two
species of turtles, the Hawksbill Sea Turtle and the Green Sea Turtle, which are categorized under the
IUCN Red List as Critically Endangered and Endangered, respectively, in Ilijan. In addition, one species of
Tridacna (Giant Clam) is also recorded and is categorized as Vulnerable on the list.
ILIJAN CORAL REEF SURVEY
Species

CriticallyEndangered

Endangered

Vulnerable

Near
Threatened

Least
Concern

Data
Deficient

Not
Evaluated

Fish
Corals
ReptilesInvertebrate
Total

1
1
2

1
1
2

10
1
11

1
6
7

127
17
144

6
2
8

36
36

According to the IUCN, species in the Vulnerable, Endangered and Critically Endangered categories arecollectively described as ‘threatened.’ The IUCN Red List does not include Not Evaluated species; andalthough Least Concern species have a lower risk of extinction, they still play an important role in global
biodiversity. The identification of 15 ‘threatened’ species has increased our previous total to 29 in our2023 Report. San Miguel will continue to monitor and protect the identified threatened species and theirhabitats near or adjacent to our business operations. We also partner with the communities and otherrelevant stakeholders in the areas where we operate to safeguard our country’s biodiversity andecosystem.
Other business units, such as Food and Beverage, Infrastructure, Cement, and Fuel and Oil, have theirown reforestation initiatives for upland, lowland, and mangrove forests, as well as coral reef restoration
projects. We have engaged academe-based third-party assurance to scientifically measure and quantify
the carbon sequestration of our reforestation and mangrove restoration initiatives and to verify theactual amount of carbon stored by the various species of flora we have planted.
San Miguel believes that biodiversity loss and climate change are inextricably linked and mutually
reinforcing, thus we committed to adopting nature-positive strategies and innovative solutions that will
improve the quality of life, achieve sustainable prosperity, and ensure that our planet remains hospitableto human life.

492.5 Climate-related Risk Management
GRI 2-12 | GRI 201-2

In recent years, the Philippines has faced a relentless onslaught of climate-related disasters, with
Typhoon Odette (Rai) in December 2021 being a stark reminder of the country's vulnerability to extreme
weather events. As one of the countries most susceptible to the impacts of climate change, thePhilippines ranks high on the list of countries at risk, with its geographical location making it a hotspot
for typhoons, floods, and rising sea levels. These events wreak havoc on infrastructure, disrupt lives andlivelihoods, and pose significant challenges to economic stability and growth. The reality of climatechange in the Philippines underscores an urgent need for comprehensive climate risk management
strategies that are not only focused on mitigation but also on adaptation to the changing climate.
In response to these escalating challenges and recognizing the substantial risk that climate change poses
to our operations, communities, and the broader environment, SMC is implementing a comprehensive
approach to tackle climate-related challenges. This approach involves governance, strategic planning, risk
management, and the establishment of clear metrics and targets.

GovernanceIn line with the principles of sustainable development and responsible corporate governance, we are
instituting a robust framework to meticulously oversee our risk management processes. The Audit andRisk Oversight Committee of the Board of Directors plays a crucial role in ensuring the effectiveness andintegrity of our ERM system.
Each business within SMC is responsible for identifying and managing its risks, with the level of maturity
varying based on inherent risks of the industry they are in. For example, Petron, our Fuel and Oil
subsidiary, has a mature risk management process guided by its Petron Risk Management (PRisMS) Policy
Statement. They systematically identify, assess, measure, and monitor risks and opportunities with afocus on minimizing their carbon footprint and prioritizing health and safety through detailed
environmental programs.
Several other businesses have formally integrated ERM into their management systems and are
expanding coverage across the different areas of their operations.

Strategy
Recognizing the significant risks posed by climate change to our operations and facilities and ourvulnerability to external factors, we integrate these considerations into our annual and long-range
strategic planning and budgeting processes. Each business aligns with our sustainability goals, refining
initiatives based on business nuances and quantifying targets using agreed metrics.

Risk Management
The Audit and Risk Oversight Committee, with the guidance of the Board, is exploring the integration of
the TCFD guidelines into our ERM structure. Additionally, each business unit has dedicated teams
evaluating environmental and social issues, leveraging expertise to understand risks and opportunities,
propose viable and effective programs, and prepare scenarios.
SMC defines a "substantive financial or strategic impact on business" as effects that directly influence theCompany's bottom line, long-term stability, and growth. We have identified inherent climate-related risks
that could have such an impact:
Current and emerging regulations: SMC recognizes that global efforts to mitigate climate risk will
influence government policies, consumer preferences and costs of doing business. In response, weare embedding sustainability into our strategies and operations, leveraging our strengths andresources towards economic prosperity for the country and investing in low-carbon technologies
and renewable energy.

50Acute physical climate risks: Like any company, SMC is vulnerable to extreme weather conditions,such as droughts, typhoons and floods, which can damage facilities, disrupt operations andsupplies, and cause logistical challenges. We incorporate resilient design standards into ourinfrastructure projects, invest in river cleanup to mitigate flooding and maintain drainage systems
for road operations.
Chronic physical climate risks: Risks such as water scarcity and changing weather patterns canimpact our supply chain and operations. We undertake comprehensive water risk assessments andimplement water saving measures. We have ample procurement and inventory strategies to adapt
to changing conditions. In addition, we focus on energy efficiency measures to reduce operationalcosts and GHG emissions.

Metrics and Targets
San Miguel is unwavering in its commitment to transparency and accountability. We are advancing ourenvironmental stewardship by developing, measuring, and monitoring a comprehensive set of climaterelated metrics and targets.
Emissions Management: Our approach encompasses both GHG and non-GHG emissions. We track
our Scope 1 and Scope 2 GHG emissions in absolute terms and intensity. Moreover, we monitor our
non-GHG pollutants, including NOx, SOx, particulate matter, and various other hazardous
emissions.
Resource Efficiency: Energy and water management are pillars of our resource efficiency strategy.
By measuring our energy consumption and intensity, we are identifying opportunities to enhance
efficiency and reduce costs. Similarly, our water stewardship focuses on consumption, withdrawal,
and discharge metrics, aiming for sustainable utilization and minimal environmental impact.
Waste Management and Biodiversity: We track material use, waste generation, and diversion
efforts. Moreover, we assess our impact on biodiversity, habitats, and species conservation. These
measures not only mitigate our operational footprint but also contribute to broader ecologicalpreservation.
For an in-depth discussion of our metrics, please refer to Section 7: Kalikasan of this Report. For the
metrics we are establishing in pursuit of our four overarching sustainability goals, see Section 6.4.A: Major
Milestones for our Goals.

51

3 Kalinga: Good for People
3.1 Our Employees
GRI 2-7 | GRI 401-1

Our employees are integral to the SMC Group success. They are the driving force behind the Company’s
productivity and the source of innovative ideas that improve our various products and services. Our
employees help us advance our ESG goals. They identify opportunities to conserve resources, reduce
waste, and implement sustainability practices, all of which will benefit the environment and society.

Regular employees
Officer
Middle manager
Rank and fileConsultants
Project-based employees
TOTAL EMPLOYEESNUMBER OF EMPLOYEES BY POSITION
2023
2022
Number % to Total% to
Number % to Total
Regular47,20888%
100%
44,027
88%
262
0.5%
1%
265
0.5%
1,644
3%
3%
1,367
3%
45,30285%96%42,395
85%
281
1%
182
0.4%
5,868
11%
5,799
12%
53,357100%
50,008100%% toRegular
100%
1%
3%
96%

As of the end of 2023, the Group’s workforce reached 53,357 employees, excluding those working in ourforeign operations and BankCom, which are not in scope of this Report. Regular employees account for
88%, while 12% are classified as project-based and consultants. Among regular employees, 96% are rank
and file employees, the majority of whom are in sales, manufacturing, and logistics. Officers and middle
managers together comprise only 4% of the total population, indicating a relatively light overhead cost.
Project-based employees are hired for the duration of specific assignments, such as construction projects,
and are accorded compensation and benefits aligned to the position they occupy. Consultants are hired
for their specific expertise or knowledge, and generally provide support to the management teams of thebusiness units. They are likewise given compensation and benefits according to the value that they bringto the business.
SMC added 3,349 jobs in 2023, an increase of 7% in total employment. Most of these new jobs werecreated by Infrastructure and Power projects, and expansion facilities in SMFB.

Women
Men
TOTAL EMPLOYEESNUMBER OF EMPLOYEES BY GENDER
2023
Number% to Total
15,011
28%
38,34672%
53,357100%

2022
Number% to Total
13,582
27%
36,42673%
50,008
100%

Alongside the increase in the SMC Group total employee population is an increased representation of
women in the workforce. The number of women employees grew by 11%, compared to 5% for men. Male
employees still account for most of the population at 38,346, or 72%, and female employees at 15,011,
or 28%, resulting in a 2.6:1 male-to-female ratio from 2.7:1 in 2022. Among the management team, themale-to-female ratio is 1.9:1. The ratios notwithstanding, there is a significant number of women who
occupy key leadership positions in every business unit.

Under 30 years old
Between 30 and 50 years old

NUMBER OF EMPLOYEES BY AGE
2023
Number% to Total
20,35638%
28,992
54%

2022
Number% to Total
18,55937%
27,50455%
52

Over 50 years old
TOTAL EMPLOYEES

4,009
53,357

8%
100%

3,945
50,0088%100%

The composition of our workforce reflects a notable trend toward an increasing number of younger
employees. While individuals aged 30-50 years old dominate with a 54% share, there is a significant
representation of those under 30 years old, comprising 38% of the total workforce. This trend suggests a
growing influx of young talents into our organization, bringing fresh perspectives, innovative ideas, anda drive for continuous improvement.
In the upcoming sections, we elaborate on how San Miguel Corporation nurtures and promotes theholistic well-being of our employees.

A. Human Rights and Labor Practices
GRI 2-16 | GRI 2-23 | GRI 2-24 | GRI 2-30 | GRI 408-1

Active CBAs
Total members

COLLECTIVE BARGAINING AGREEMENTS (CBAs)
2023
34
5,046

2022
34
5,059

*2022 numbers were restated

We uphold the rights of our workers to freely associate and engage in collective bargaining. Aligned with
our principles, we continuously foster a cooperative atmosphere between labor and management. As of
the conclusion of 2023, the SMC Group has existing bargaining agreements with 34 active labor unions,with around 9.5% of our employees being covered by CBAs.
Within SMC, every subsidiary has its own Labor Relations team, closely collaborating with the Corporate
Human Resources - Labor Relations (CHR-LR) department. In 2023, the following key programs were
undertaken to preserve and further enhance labor and management relations, as well as to ensurecompliance with labor laws and regulations:•

Enhanced assessments of the General Labor Standards (GLS) and Occupational Safety and Health(OSH), including for 3rd party contractors. Tabletop assessments for GLS covered 472 facilities and
550 facilities for OSH.

•

Launched the 2023 SMC GLS and OSH Compliance Awards, an initiative to incentivize compliancethrough recognition rather than policing, by SMG units and contractors. A total of 101 plaques ofrecognition were handed out in 5 GLS award categories, while 467 awards were recognized for the
Safety Milestone award.

•

Enhanced safety preparedness though the conduct of the 2023 Fire Brigade Skills Exhibition.
Instead of a competition format, the skills exhibition is an approach designed to enhance andmaximize participation across the Group. A total of 149 teams, each with 10 members, participatedin the exhibition, bringing the total active participation to 1,490 employees.

In a proactive effort to empower our workforce with essential knowledge regarding their rights, ourCorporate HR organized Labor Education Seminars in collaboration with the DOLE. These seminars served
as a vital platform for 5,028 employees to gain insights into fundamental labor rights, including securityof tenure and freedom of association, directly from the authoritative source, DOLE. By participating inthese educational sessions, employees were equipped with the necessary understanding to navigate thecomplexities of the labor landscape, fostering a workplace environment grounded in awareness,
empowerment, and mutual respect.
In strict compliance with the Constitution and pertinent laws, we have established clear policies thatemphasize the importance of human rights and expressly denounce child labor. Throughout the year, wehave conducted learning workshops to guarantee that all employees share our commitment to adhering
to laws that safeguard human rights and related regulations.
53

B. Employee Health and Safety
GRI 403-1 | GRI 403-2 | GRI 403-3 | GRI 403-4 | GRI 403-5 | GRI 403-6 | GRI 403-7 | GRI 403-8

OCCUPATIONAL HEALTH AND SAFETY MANAGEMENT SYSTEM
2023
Number%Number %Total number of all employees and workers who are
not employees but whose work and/or workplace iscontrolled by the organization

44,0632022

45,797i. the number of all employees and workers who are not
employees but whose work and/or workplace is controlled by
the organization, who are covered by such a system

44,063100%

45,797100%

ii. the number of all employees and workers who are not
employees but whose work and/or workplace is controlled by
the organization, who are covered by such a system that has
been internally audited

39,88091%

19,46843%

iii. the number of all employees and workers who are not
employees but whose work and/or workplace is controlled by
the organization, who are covered by such a system- that has
been audited or certified by an external party

33,47876%

16,81637%

San Miguel boasts one of the most comprehensive medical benefits schemes for its employees, offering
coverage for both major and minor health issues through Health Maintenance Organization (HMO) plans.
These plans include a maximum coverage limit that varies by business unit. Employees can access medical
consultations, medications, and necessary medical devices at clinics within each major facility, ensuring
comprehensive health support.
Despite the relaxation of some Covid-19 restrictions in 2023, our commitment to maintaining stringent
safety measures and protocols to safeguard our workforce remains unwavering. Our proactive steps
include:••Offering free rapid antigen testing for employees and third-party service providers at San Miguelfacilities and offices, which continued until the fourth quarter of 2023.
Establishing sanitation stations and disinfection services, including handwashing stations andalcohol dispensers, across all SMC offices, manufacturing sites, and other premises.

Our OSH programs extend to all employees in the Philippines, encompassing regular staff, project-based
teams, and consultants. Our commitment is to uphold superior safety and health standards, continuously
fostering a safety-centric culture within our work environment. A key component of this commitment
involves providing comprehensive safety and health training to all employees. In strict adherence to RA
11058, which mandates compliance with occupational safety and health standards, we ensure every
employee participates in a DOLE-mandated eight-hour OSH seminar as part of their onboarding process.
We are dedicated to surpassing the minimum OSH requirements set by the government and the DOLE,
covering areas such as general safety and health, maintaining a drug-free workplace, mental healthsupport, and the prevention of communicable diseases. To this end, we maintain up-to-date Manuals on
Worker Safety Procedures in every facility. Furthermore, our Safety Councils and Health and Safety
Committees across various business units play a crucial role in promptly addressing facility-specific issues
and concerns raised by employees.
In testament to our unwavering dedication to workplace safety and health, 37 of our facilities acrossPetron, Power, Infrastructure, and Cement sectors proudly hold ISO 45001:2018 accreditation for theirOccupational Health and Safety Management Systems. This underscores our continuous effort to not justmeet, but exceed, global standards in protecting the well-being of our workforce.
In addition, we regularly organize disaster and emergency preparedness drills in collaboration with local
fire departments, police departments, and the Philippine Red Cross. These exercises are designed to54

equip our employees with the necessary skills and knowledge to respond effectively to emergency
situations, ensuring their safety and preparedness.
Our facilities are also subject to comprehensive annual audits conducted by our Corporate TechnicalAudit team. Part of the responsibility of this independent group is to verify the health and safety statusof our Company facilities in coordination with the Safety and Health Committee of the facility. The review
covers the compliance with reportorial requirements of DOLE, work accidents and injuries, availability ofhealth facilities and medical personnel, training conducted and emergency preparedness protocol, fire
protection and control and a review of workplace hazards and permits. The audit team then recommends
the necessary action steps to improve workplace conditions and ensure the health and safety of all
employees and contractors working in the facility.

Nurturing The Heart, Mind, Body, And Spirit
Engaged employees are committed and enthusiastic about their work and actively involved in achieving
their company’s business goals and interests. Having this in mind, San Miguel’s Employee Engagement
Programs are crafted to encourage active participation as well as create enthusiasm among San Miguel
employees in their work and workplace. These programs aim to promote a positive attitude towards theorganization and its values and provide opportunities to foster employee connections with theircolleagues to improve work relationships.
As we emerged from pandemic restrictions and re-established in-person activities alongside virtual
events, we were able to restore the programs that supported our employees’ journey to self-care. The
focus was on providing wellness programs and activities aligned with nurturing the aspects of well-being:
Mind, Body, Heart, and Spirit, which make up the framework for our San Miguel Group employee
program offerings.

MIND
Guided by this framework, our Employee Relations (ER) programs and activities are designed to support
employees' physical, mental, and spiritual well-being. One such initiative is CHR’s mental wellness
program, Arugâ, which translates as "to nurture and provide tender care." This program encompasses
webinars, town halls, and information campaigns aimed at fostering positivity and providing essential
care for our minds and bodies. These sessions also serve as a vital step towards equipping our employeeswith the necessary tools to navigate life's various challenges, fostering mindfulness, focus, and resilience.
To ensure the well-being of everyone, CHR initiated Arugâ Check-in Sessions in collaboration with mental
wellness experts. These monthly sessions focused on various topics related to holistic well-being, cateringto the diverse members of the San Miguel Group Community, especially those facing unique challenges.
Topics ranged from "Caring for the Carers: Tools and Strategies for Care Providers" to "Bayanihan: A
Stress Management Workshop through Laughter Practices." Conducted by mental health professionals
via Zoom, these two-hour virtual sessions reached San Miguel plants and facilities nationwide, fosteringa supportive environment for wellness and personal growth.

BODY
Building on the successes of the Nutrition Month activations in July 2022, a series of Nutrition Monthactivities were organized in 2023 across the SMC Head Office Complex and other SMC plants andfacilities. The objective remained to emphasize the importance of making informed food choices andcultivating healthy eating habits alongside regular physical activity. Key initiatives include the following:•

HEALTH TALKS – Hybrid sessions (in-person and online) featured nutritionists and medical experts
who shared their knowledge on these topics: Obesity and Pre-diabetes in the Workplace and thePrinciples of Mindful Eating; Polycystic Ovary Syndrome (PCOS); Head and Neck Cancers; FAQs on
Hypertension and Heart Attack; Focus on Women’s Health; and Men’s Health Focus. Our employeesinteracted with the nutritionists and medical specialists, who answered questions from both inperson participants and those who joined via Zoom. Initially intended as a Nutrition Month activity,
due to the warm reception from employees, it has now become a monthly and sometimes bimonthly program.
55

•

NUTRITION COUNSELLING PROGRAM – SMC provided one-on-one consultation services with aregistered dietitian/nutritionist to design nutrition programs for employees to protect health,prevent allergic reactions, and alleviate the symptoms of many types of disease. Additional menu
offerings of healthy food choices (grilled seafood, meat and poultry, vegetable salads, among
others were made available and are now daily offerings at the canteen.

•

SELF-DEFENSE CLASSES – These sessions aimed to enrich the life skills of our employees, with aparticular focus on mastering self-defense techniques for both men and women. Tailored toaccommodate diverse levels of proficiency, these programs were designed to suit all participants.
Our instructors, selected from the prestigious Black Panther Yoshinkan Aikido Club, bring expertise
honed through training law enforcement and military personnel in effective self-defense
techniques.

•

SPORTS TOURNAMENTS & RE-OPENING OF THE HOC GYM – Year after year, the sports tournaments
stand out as one of the most anticipated employee programs. Encouraging active participation inthese sports-related activities not only boosts employee well-being but also fosters a sense of unity,
camaraderie, and enthusiasm within the Company. In 2023, we successfully revived the San MiguelGroupwide Tournaments, featuring beloved games like Chess, Darts, Table Tennis, Badminton, andBowling. Additionally, our gym classes, including Zumba, Dance, and access to gym facilities, werereinstated, reinforcing our commitment to promoting a healthy work-life balance and an active
lifestyle among employees.

HEART
HR experts emphasize that employees who cultivate strong, positive relationships with their co-workers
tend to be more engaged in their workplaces, with interpersonal connections being a significant
contributing factor. To encourage such connections, we created opportunities for our employees to work
together and get to know one another better through the following programs.
•

THEMED EMPLOYEE GET-TOGETHERS – These activities provided new employees fun bonding
experiences at a safe venue where they could relax and unwind while strengthening camaraderie
and teamwork. Well-received themed get-togethers included a Trivia Game Night in celebration of
the National Language Month (Buwan ng Wikang Pambansa), a Halloween trivia night, and a
Halloween Costume Contest.

•

SMC’S 133rd ANNIVERSARY CELEBRATION – We commemorated our 133rd anniversary with a funcelebration showcasing our flagship brands alongside exciting new offerings to the San Miguelcommunity. Designed to promote a deep sense of pride and belonging among employees byreinforcing their connection not only to their specific business units but to the broader San Miguelfamily, this shared pride underscores the collective identity and unity within San Miguel, enhancing
employee morale and loyalty.

SPIRIT
Nurturing the spirit in the workplace is a key component in promoting the holistic well-being of
employees, transcending the basic needs of professional development and compensation.
•

CELEBRATING MILESTONES – In 2023, we celebrated various professional and personal milestonesof our employees, such as birthdays and work anniversaries with the Company, throughpersonalized birthday cards and gifts; alentine’s ay, Mother’s Day, and Father’s ay throughthoughtful tokens; to a major event to honor their years of dedicated service with the Company at
the much-anticipated annual Employee Service Awards Ceremonies. This event highlighted the
dedication and commitment of long-tenured employees, recognizing those with 15, 20, 25, 30, 35,
and up to 40 years of service. In both small and significant ways, we are able to show our employees
how much they are valued.

•

EMPLOYEE VOLUNTEERISM – Over the last few years, we observed an increase in employees,
56especially millennials, actively seeking employers who contribute positively to the community. At
San Miguel, numerous opportunities enable employees to feel they are part of something
meaningful. Our Company’s dedication to “giving-back” goes a long way in promoting employee
engagement. In 2023, this was vividly demonstrated through the following initiatives.
oParticipation in Team Malasakit activities for the environment such as the Coastal Clean-up
Drive and The Good Deed Day Activity at Better World Smokey Mountain, where
employees distributed Noche Buena items for underprivileged families. Additionally,
volunteers from various facilities across the country also gave up precious weekends
volunteering at Better as individuals or in groupsoAs part of San Miguel’s Employee olunteerism Program, CHR and the San MiguelFoundation conducted blood donation drives in partnership with the National Red Cross
and the Veterans’ Memorial Medical Centre. This campaign offers our San Miguel Group
employees the chance to fulfill their civic duty and ensures reliable source of blood
products for employees and their dependents.

C. Employee Engagement, Training, and Development
GRI 2-17 | GRI 404-1 | GRI 404-2 | GRI 404-3

Officer
Middle manager
Rank and file
TOTAL

TRAINING HOURS BY JOB CATEGORY
2023
2022
Total Hours Ave. Hours / Head
Total Hours Ave. Hours / Head
3,937
16
4,979
19
54,551
35
35,10526
1,264,778
28
553,279
13
1,323,266
28
593,363
14

Women
Men
TOTAL

TRAINING HOURS BY GENDER
2023
Total Hours Ave. Hours / Head353,66124
969,60525
1,323,266
25

2022
Total Hours Ave. Hours / Head
163,38113
429,98214593,36314

We fully recognize the critical role that engagement, learning, and development play in unleashing thefull potential of our employees. At San Miguel, we are dedicated to equipping our team members withthe essential competencies and skills necessary for success in their roles. By prioritizing their growth, we
aim to boost productivity and cultivate a robust talent pipeline for future leadership positions.
Our commitment to employee development is evident through the significant increase in training hours
from 2022 to 2023. The overall training hours more than doubled to 1.3 million in 2023 from 593
thousand in 2022, with the average hours per employee increasing from 14 to 28. Officers experienced aslight decrease in total training hours, suggesting a more targeted training approach. Middle managers
saw a remarkable increase in training hours, with the average hours per head rising from 26 to 35. Rank
and file employees received a significant boost in training, with total hours increasing to 1.2 million,
reflecting a comprehensive initiative to enhance the skills of the broader workforce.
Women received a substantial increase in total training hours, with the average hours per employee risingfrom 13 to 24, demonstrating a commitment to supporting women’s professional growth. Men also saw
a significant increase in training hours, with the average hours per head increasing from 14 to 25,
indicating a balanced enhancement in training opportunities for men within the Company.
The realities and demands of the post-pandemic world have reshaped the landscape of employee training
and engagement. The shift towards hybrid classrooms, digital and on-demand learning content, andchanging behaviors of our employees and leaders towards capability building have underscored the57

importance of adaptability and agility in the way we deliver learning interventions.

In response to the evolving learning needs and preferences of our employees, we have transitioned to a
hybrid model for instructor-led training and workshops. This approach combines face-to-face sessions
with virtual training setups, offering the best of both worlds. On-the-job training, shadowing, and real
work immersions were reintroduced in 2023, allowing our employees to gain more learning opportunities
compared to the previous year when face-to-face interactions were still limited. In 2023, our employees
logged a total of 1.3 million learning hours, up by 123% compared to the previous year. The number ofsubscriptions for online learning also increased by 50% in 2023.
Learning administrators in each business unit were trained to curate content and develop learning
pathways on the LinkedIn Learning and Udemy platforms. These learning pathways were assigned to
identified employees for completion, resulting in more than 238 thousand content completions on theplatform. Learning in groups also increased as sessions on the platform were conducted in larger forums
to create a sense of community among employees in our plants and sales facilities. Onboarding andlearning conversations were available using online collaboration tools such as Microsoft Teams andZoom.
In addition to our existing programs aimed at fostering the growth of high-potential and high-performing
employees and leaders, 2023 marked a significant milestone with the introduction of our Corporate
Sustainability Capability Academy. Launched in June 2023, the academy’s flagship program, Sustainability
Management Certificate Course, was designed in collaboration with the Ateneo Institute of Sustainability.
A total of 46 executives, managers, and key staff have so far participated in the program, which
culminated in 10 capstone projects with themes focused on the Company’s sustainability commitments.
The academy’s programs also included the following sustainability awareness campaigns:•

SDG 2030 workshops – an interactive workshop aimed at promoting an integrated understandingof the 17 SDG goals. The workshop utilizes a card game technique developed in Japan that is now
being used all over the world. So far, 143 employees have participated in this workshop.

•

Sustainability Executive Session – a half-day hybrid workshop facilitated by the Ateneo Institute of
Sustainability, participated in by 23 Directors from San Miguel Corporation and Bank of Commerce,and 35 Executives of the Company.

We also updated the curricula of our established executive leadership programs, in collaboration with
the Asian Institute of Management and the Ateneo Graduate School of Business, to include
comprehensive sustainability modules. These updates ensure that the content is in sync with the58Company's sustainability commitments. Moreover, we have aligned the capstone projects within these
programs to directly contribute to our sustainability objectives, thereby integrating leadership training
with our strategic environmental and social goals. This initiative underscores our dedication to integrating
sustainability into the core of our leadership development.
The enthusiastic uptake of our employee learning programs, particularly in sustainability, represents asignificant stride in our journey toward corporate growth and responsible stewardship. The impressive
increase in our training hours for 2023 is a testament to our collective commitment to excellence andsustainability. As we move forward, these learning initiatives will continue to be a cornerstone indeveloping a workforce that is not only skilled and knowledgeable but also aligned with our vision for asustainable future.

Performance And Development Reviews

Officer
Middle manager
Rank and file
TOTAL

Women
Men
TOTAL

PERFORMANCE REVIEW BY JOB CATEGORY
2023
No. of Reg.
Received % to Total No. of Reg.
Employees
Reviews
Employees
262
239
91%
265
1,644
1,414
86%
1,367
45,302
34,61776%
42,39547,20836,26077%
44,027PERFORMANCE REVIEW BY GENDER
2023
No. of Reg.
Received % to Total No. of Reg.
Employees
Reviews
Employees
13,207
10,49879%
11,89034,001
25,77276%
32,137
47,20836,27077%
44,027

2022
Received % to Total
Reviews
219
83%
1,165
85%
20,80549%
22,18950%

2022
Received
Reviews
7,252
14,93722,189% to Total
61%
46%
50%

In 2023, the total percentage of regular employees receiving performance reviews climbed to 77% from
50% in 2022, mirroring the comprehensive improvements observed across job categories and genders.
Officers saw a noticeable increase, with 91% in 2023 compared to 83% in the previous year. Middle
managers also experienced an uptick in review completion, from 85% in 2022 to 86% in 2023, indicating
enhanced managerial feedback mechanism. The Rank-and-file category witnessed a significant
improvement, with 76% receiving reviews in 2023 from the 49% in the year prior.
On gender-specific data, women saw their review rates improved from 61% to 79%, slightly exceedingthat for men at 76%, which also increased significantly from 46%.
Performance reviews serve as a crucial tool for advancing the attainment of business objectives andstrategic initiatives. At the beginning of each year, goals are set in collaboration with the employee, andtheir performance is objectively evaluated at year's end based on the accomplishment of theseobjectives. In 2023, we resumed to migrate our manual performance management process to a cloudbased platform powered by SAP SuccessFactors. This will ensure more streamlined and transparent goal
setting and appraisal processes.

59Throughout the performance management process, we prioritize open communication and constructive
feedback between employees and managers to cultivate an environment of accountability and ongoingenhancement. This approach is designed as a continuous conversation, dedicated to bolstering the
success of our employees. It is a collaborative effort that not only evaluates performance but also actively
supports personal and professional growth, ensuring that both individual and company objectives aremet.

D. Diversity, Equity, and Inclusion
GRI 2-23 | GRI 2-24 | GRI 405-1 | GRI 406-1

NCR
North Luzon
South Luzon
VisayasMindanao
TOTAL EMPLOYEESNUMBER OF EMPLOYEES BY WORK LOCATION
2023
2022
Number% to Total
Number
15,76929%
14,989
7,997
16%
7,892
19,31737%
18,299
4,740
9%
3,982
5,534
9%
4,846
53,357100%
50,008% to Total
30%
16%
37%
8%
10%
100%

At San Miguel Corporation, we are steadfast in our commitment to fostering an inclusive and diverse
workplace, as outlined in Section 9 of the SMC Human Resources Manual regarding Recruitment and
Hiring. It clearly states that all candidates are considered for employment without bias towards gender,
civil status, religion, or physical capabilities, ensuring they meet the job's educational and competency
requirements.
We pride ourselves on being an employer of choice, valuing the unique skills, knowledge, and abilities ofeach applicant. Our recruitment process is guided by core principles embedded in our Recruitment Policy,
Company Rules and Regulations, and Employee Handbook, emphasizing:••••

Respect for Individuals: We cherish and aim to enhance the individual capabilities of our teammembers.
Integrity in Actions: We maintain ethical, fair, and unquestionable conduct in all business dealings.
Merit-based Selection: Our workforce selection and placement policies are founded on individual
merits and abilities.
Commitment to Diversity and Equality: We actively promote diversity and gender equality in theworkplace by:o
Enforcing laws like Republic Act No. 6725 to prevent discrimination against women andensuring equal employment terms and conditions.
oAdhering to the Anti-Discrimination Act of 2017 to safeguard employees from workplace
discrimination.
oEliminating considerations of age, gender, religious, and ethnic affiliations in hiring decisions.
oStrongly opposing child labor, forced, or compulsory labor in any form.

60

Our dedication to gender diversity is a testament to our belief in its substantial benefits to our employees
and the organization's overall success. We understand that a diverse workforce introduces a wealth ofperspectives, enhancing innovation, creativity, and problem-solving capabilities. To this end, we haveinstituted policies ensuring gender equality, equal career advancement opportunities, equitablecompensation, and a workplace environment devoid of discrimination or harassment. Our adherence to
the Safe Spaces Act (RA 11313) underlines our zero-tolerance policy towards sexual harassment, ensuring
a respectful, valued, and secure workplace for all employees.
During the last reporting period, there were no incidents of discrimination across the SMC Group,
reinforcing our commitment to a merit-based recruitment philosophy. We aim to empower individuals
from all walks of life, particularly those from fence-line communities, to thrive in our organization without
regard to their social background.
In line with this, initiatives like Petron’s Bataan Refinery demonstrate our efforts to integrate membersof the Aeta communities through apprenticeships, with many securing employment post-training. Thisnot only motivates further participation from the indigenous communities but also reflects ourcommitment to local hiring across the Philippines.
Our operational presence in various regions ensures a deep understanding of market dynamics, fosters
local supplier relationships, and significantly contributes to regional employment, aligning with our
mission to develop a workforce that is both skilled and reflective of the diverse communities we serve.
Our 2023 workforce data underscores our strategic emphasis on geographical diversity and regional
development. NCR experienced a modest increase in employee numbers, accounting for 29% of the total
workforce, indicating a stable yet growing presence in the country’s economic hub. North Luzon saw asteady rise in its workforce, maintaining a consistent 16% share of the total. South Luzon demonstrated
significant growth, holding a 37% share of the total workforce and marking it as a critical operational
center for the Company. Visayas recorded an increase in employees and an increase in the proportion of
total workforce, underscoring SMC’s focused expansion and development initiatives in the region.
Mindanao also experienced growth, with its workforce expanding to 5,534 from 4,846, indicating abalanced approached to regional expansion. Overall, these improvements highlight a strategic focus on
fostering regional strengths and capabilities across the Philippines, ensuring a robust and geographicallydiverse operational footprint.

3.2 Our Customers
A. Customer Welfare and Responsibility
GRI 416-1 | GRI 417-1
Ensuring the safety and quality of our products and services is paramount to SMC’s commitment toexcellence and customer satisfaction. In this section, we discuss the comprehensive approach to productand service safety of some of our key businesses, highlighting our dedication to meeting and exceeding
industry standards, regulatory requirements, and customer expectations. From stringent quality control
measures to proactive risk assessment strategies, we prioritize the well-being and confidence of ourcustomers in every aspect of our offerings.
Given the diversity of the businesses that SMC is engaged in, product and service safety approaches vary.
What is common to all is that each group has articulated their commitment to quality and safety in theirrespective policies and are guided by documented systems and procedures.
For Food and Beverage, our facilities comply with regulations and standards set by government agencies
such as the Department of Agriculture – Bureau of Animal Industry (DA-BAI) for feed mills, the National
Meat Inspection Commission (DA-NMIS) for poultry processing plants, and the Department of Health Food and Drug Administration (DOH-FDA) for the other plants. Compliance involves submitting required
documentation, undergoing periodic audits and staying updated on regulatory changes.

61

To ensure compliance with regulations and internationally recognized food safety and quality standards,
our facilities adhere to Good Manufacturing Practices (GMP) and utilize the Hazard Analysis and CriticalControl Points (HACCP) approach to identify, evaluate and control any biological, chemical or physicalhazards in the production process and mitigate risks associated with these. In addition, a good numberof facilities are also accredited to ISO 9001, ISO 22001 and/or FSSC 22000, so that they are equipped withcomprehensive procedures for hazard analysis, risk management, and continuous improvement. Of our
52 food and beverage plants, 32 are externally accredited for GMP, 30 for HACCP, 24 for ISO 9001 and 16
for ISO 22001 or FSSC 22000. Other facilities are compliant or are in a state of certifiability with ISO
9001:2015 as assessed by a pool of technical assessors and have documented GMP protocols, and foodsafety and quality procedures.
The approach to food safety and quality starts with stringent raw material acceptance procedures. Criticalraw materials are subjected to sampling to detect whether contaminants are present, and the materials
conform to agreed specifications. For other materials, certificates of analysis are required to besubmitted, while suppliers of materials such as soybeans also submit verification statements of nondeforestation and compliance with other environmental and social standards.
In-process controls are crucial to ensuring food safety and product quality. Continuous monitoring of
critical process parameters, such as temperature, pressure, pH, flow rates and mixing time helps ensure
consistency and efficiency in production. Regular sanitation checks are conducted on personnel andequipment, through periodic washing, visual inspection, swab testing for microbial contamination, andverification of sanitation procedures. Packaging materials and processes are also monitored to ensure
sealing integrity, weight and labelling accuracy and aesthetic value. In certain critical areas, metal
detection, X-ray and camera-type inspection machines are positioned to catch any contaminants or
packaging defects that may have been missed in the visual inspection process.
Finished goods are then subjected to final inspection and testing prior to release. This may involve
sensory tests, microbiological analysis or chemical assays. Product samples for each batch of production
are maintained for possible future reference.
An aspect of quality and safety that has seen advancement in recent years is traceability, which is now
supported by automated Warehouse Management Systems, for both raw materials and finished goods.
Not only have these systems improved inventory management and service levels, but these have alloweda shorter window and a tighter result for the trace back of finished products to their production batchand all the way to the source of raw materials.
Underpinning the Company’s commitment to product quality and safety is the proper training of
personnel in the concepts of quality, health and safety hazards assessment, basic microbiology,
measurement and documentation, and other related aspects of quality assurance.
For our Packaging business, which serves beverage, food, pharmaceutical, industrial, personal &household care industries, adherence to food safety and quality management is also key. Because of this,eight packaging plants are certified to FSSC 22000. One glass plant, which serves the pharmaceuticalindustry, is externally certified to ISO 9001 and ISO 15378, while other facilities are covered by an internal
assessment for ISO 9001. One plant producing corrugated carton packaging has a Chain of Custody
Certification under the Forest Stewardship Council.
For Petron, a Corporate Safety Group oversees the company’s safety program, working closely with the
Safety Council. Its safety program covers the refinery and terminal operations and its entire retail
network. Training in proper handling of fuel and other products and the conduct of service operations
extends beyond employees to its customers. Petron provides material safety data sheets for its products
on its website. The importance of quality and safety in our fuel and oil operations is underscored by 85
certifications for ISO 9001, ISO 14001 and ISO 45001. Moreover, Petron terminals have ISPS Codecertification for the security of vessels and port operations.
62Ensuring motorists’ safety and security along the tollways that SMC operates is another high priority
concern. To this end, the tollways undergo periodic inspections by government regulators who checkroad conditions, presence and placement of signages, any hazardous materials and other safety
conditions. Daily, tollway personnel are trained to deal with critical situations such as vehicular accidents,
abandoned vehicles, vehicles that catch fire and incidents of hijacking, carnapping, robbery, stoning andother hostile acts. They are also trained to react to and manage grassfires, flooding and other emergency
situations that may hamper road use. Following specific procedures to handle each type of incident,
responding patrollers must quickly assess the situation, inform the Traffic Control Center, secure any
persons and property involved, call for emergency response or police assistance and remain on site until
the situation is resolved.
The following table summarizes the international standards related to product quality and food safetythat our various business are certified to.
DESCRIPTION

BUSINESS UNITS COVEREDNO. OF
CERTIFICATIONS

ISO 9001:2015

Quality Management Systems

SMFB, Packaging, Petron,
Power, Infrastructure, Cement,
SMCSL, SMITS

62

ISO 14001:2015

Environmental Management
Systems

SMFB, Petron, Power,
Infrastructure, Cement, SMCSL

41

ISO 15378:2017

Manufacture of Glass
Containers for PharmaceuticalIndustry

Packaging1

ISO 17025:2017

Requirements for theCompetence of Testing andCalibration Laboratories

SMFB

1

SMFB

1

SMFB, Packaging

23

STANDARD

ISO 22000:2018
FSSC 22000

Food Safety Management
Systems
Food Safety System
Certification

HACCP

Hazard Analysis CriticalControl Points

SMFB

30

GMP

Standards for Good
Manufacturing Practices

SMFB

32

HALAL

Halal Certification

SMFB, Packaging

6

FSC-STD-40-004
V3-0

Forest Stewardship CouncilChain of Custody Certification

Packaging

1

SMFB, Packaging

18

SMFB

7

ISO 9001:2015
ISO 14001:2015

Quality Management Systems- State of Certifiability
Environmental Management
Systems - State ofCertifiability

TOTAL NO. OF OPERATINGFACILITIES COVEREDFood, Beverage and Packaging
Power, Fuel & Cement
Infrastructure
Data Center
TOTAL

Production
Food & Bev
Related62

Tollways

Others15*
18
1

Ports, Terminals& Others
1
44

7
1
149

*Others for Food, Beverage and Packaging include feed mills, carton and mold plants.

63

Collecting and managing customer feedback is integral to safeguarding customer well-being. SMC
operates a Customer Care Hotline at +632 8632-2000, managed by SMITS subsidiary, Prosync.
Supplementing this are various hotlines of the different business units and subsidiaries, providing various
touchpoints and making it more convenient for customers to reach out to us. Some of these hotlines,
particularly for Petron, San Miguel Beer and San Miguel Foods, are supported by Customer Relations
Management (CRM) software to capture feedback, assign each case to the appropriate individual in theorganization, monitor resolution and upon closure, follow up with a call or email to determine if thecustomer was satisfied with the response. Other units, such as Packaging, Cement, tollways, airport,
properties and BMW, send out Customer Satisfaction Surveys to gather information on their customers’
overall experience with their products or services. All this information is funneled back to the operations
to trigger potential improvements.
San Miguel Corporation and our various brands also maintain active Facebook pages, and contact
information is indicated on our company websites. Complementing these are social media monitoring
tools that enable the Company to track any positive or negative feedback involving the Company or its
products and services.
SMC appreciates the effort that its customers exert to provide feedback and welcomes theseopportunities to address their concerns, improve our operations and possibly regain the trust of any
dissatisfied customer.

3.3 Our Communities
A. Community Engagement
GRI 203-1 | GRI 203-2 | GRI 413-1 | GRI 413-2

Program

LOCAL COMMUNITY ENGAGEMENTS
Project
As of December
As of December
31, 2023
31, 2022

Education

Scholarships
Short-term courses
Brigada Eskwela

HealthCommunity clinics

Feeding
1,000 Days project
Medical missions

2,541
1,162
1,446
263
2,102
13,7008
69,849
508
6,451
10
0

2,844
25
1,850
120
1,284
10,316
8
76,962
340
9,000
9
200

Enterprise

Livelihood assistance

323
17
12

126
5
3

Housing

Housing and waterprovision
Road accessNo new houses
constructed
22,769,822

280,359
19,644,794

27

58

Infrastructure
Environmental

Restoration &conservation

Unit

Students
Students
Classrooms
Schools
Patients
Consultations
Clinics
Meals
Patients
Patients
Areas
Hygiene Kits /PersonPersons
Areas
People'sOrganizations
Houses
Vehicles /Motorists
Sites
64

Coral rescue
programBackyard Bukid
Better World
Tondo

Membership services

Better World
Smokey Mountain(started in
September 2023)
Better World
Cubao
Better World
DilimanMembership services

Membership services
Farmer's produce
program

220
55
29
4
71
81,210
2,220
444
162
1,916
1,287
760

100
25
25
1
25
1,800
365
192
N/A
N/A
N/A

Square Meters
Species
Kilo Biomass
Sites
Members
Revenues
Persons
Families
Students
Persons
Families
Students

556

665

Women

Temporarily
Closed4,500

Farmers

With over 100 manufacturing facilities and sales offices throughout the Philippines, we recognize we havea responsibility to serve our communities the best way we can. Being a positive, proactive contributor to
our communities is part of our core values. In our host barangays, we often fund farm-to-market roads
and other small infrastructure projects like footbridges and streetlights and provide community clinics.
We have a clear picture of the opportunities we help create and, critically, how we play an active role on
the ground, either through philanthropy or the jobs we create.
At the plant level, our employees are encouraged to be good neighbors, and build solid relationships with
LGUs, schools, civic organizations, and small businesses. As a result, engagement often goes well beyond
CSR programs or funding and, in some cases, firmly into the heart of business strategies. A good example
in many of our communities is local hiring and improving the job prospects of young people, livelihood
creation, and seeding small businesses that support our own.
Apart from widening access to economic opportunities and delivering social value to communities
through our business operations, we have also taken a direct hand in community development in cities
and towns where we do not necessarily have a big footprint or a vested interest. As a Company, we have
moved beyond ad-hoc and project-based activities, which tend to have a short-term impact, and now
pursue long-term impacts by engaging in inclusive and collaborative activities with communities.
In communities affected by San Miguel’s businesses or projects, we provide multiple avenues for
consultation, encouraging diverse voices to be heard on issues that matter to the community andallowing those affected to share their knowledge, insight, and experience to advance the implementationof our projects—whether it’s the construction of a new road, power plant or food facility.
Our Better World Communities initiative is our Company’s incubator for social change. It uses idle andvacant properties and repurposes them for community and civic use.
Better World Tondo, San Miguel’s first community center and flagship, focuses on food rescue, hunger,
and improving learning outcomes. Over 400 member families are provided free meals and monthly
groceries, remediation and after-school learning tutorials for children, and livelihood classes for mothers.
Better World Cubao is a women’s center providing services for overall health and well-being, empowering
women to advocate for themselves and one another. Health consultations are readily available and“Abante Babae” workshops are held covering diverse topics such as violence against women andchildren, parenting challenges, and gender equality. In 2023, we enrolled close to 600 members, ran 48
classes on health education and empowerment.
San Miguel’s newest and biggest center, Better World Smokey Mountain, opened in September 2023. It
is an upskilling training center that serves multi-generational families. We provide learning interventions
for young and old, offering remedial and alternative learning system classes like sewing, shoemaking,65embroidery, and repair workshops.
Another project is Backyard Bukid, a community garden and urban farming program. Like many of San
Miguel’s Better World projects, Backyard Bukid took off during the lockdown. Janitors, utility, and othersupport staff were given a 750-square-meter allotment, tools, seeds, and technical assistance to growvegetables. Backyard Bukid-inspired community gardens have since been set up in SMC’s facilities in
Manila, Cavite, and Pampanga.
Through these four community projects, we go beyond providing basic needs for the marginalized andvulnerable across all age groups. We work to address the issues that hold them back: lack of access tobasic needs like nutritious food or water and good education or health services. We try to create
opportunities for people to develop, be confident in the future, and empower individuals to reach theirgoals and fulfill their potential.
Currently, we serve close to 2,500 families in our Better World centers, but guided by our vision to uplift
lives, we seek to increase our impact and reach an estimated one million families by 2030, helping tocreate and sustain resilient, thriving communities and better lives for all.

66

4 Kasaganahan: Good for Progress
4.1 Sustainable Supply Chain
GRI 203-2 | GRI 204-1 | GRI 408-1

Local suppliers
Foreign suppliers
TOTAL SUPPLIERSNUMBER OF SUPPLIERS BY LOCATION
2023
5,375
508
5,883

PROCUREMENT SPEND
2023
Procurement spend on local suppliers
181,414.14
Procurement spend on foreign suppliers
107,099.86
Total procurement spend
288,513.99

2022
5,852
595
6,447

2022
200,498.63
176,372.23
376,870.86

Unit
Mn PhP
Mn PhP
Mn PhP

At San Miguel, we are acutely aware of the profound impact that a sustainable and ethical supply chain
can have on safeguarding our planet and enriching our communities. Thus, our long-term ambition is toengage with suppliers whose values resonate with our dedication to stringent environmental and social
standards. We have set our overarching sustainability goals not only to chart our path but also to
influence our suppliers to adopt similar sustainability targets, thereby enhancing our collective impact.
Our Corporate Procurement Group, in collaboration with San Miguel’s various business units, is tasked
with embedding our sustainability principles within our supplier network, ensuring that every action wetake is a step towards San Miguel and our suppliers shared environmental and social goals.

Supporting Local Economies with Sustainable Practices
We are deeply committed to fostering the growth of local economies and reducing our environmental
footprint through sustainable sourcing practices. With over 100 major facilities spread across thePhilippines and the Asia Pacific, our operations rely on a robust supply of raw materials and services. In
2023, we channeled 63% of our total procurement budget towards local businesses, injecting PhP 181.4
billion into the local economy. This strategic decision not only stimulates economic growth within our
host communities but also aligns with our mission to nurture grassroots partnerships and promote
environmental stewardship. By prioritizing local suppliers, we significantly reduce emissions and energy
consumption, eliminating the need for long-distance shipping and extensive storage, contributing to ahealthier planet.

Advancing Towards an Ethical and Sustainable Supply Chain
We have implemented stringent governance practices within our procurement operations. Our
Procurement Policy Manual promotes good governance principles and ethical business conduct among
our suppliers.
In 2022, we refined our Supplier Code of Conduct to integrate ESG principles more deeply into our supply
chain. This initiative not only reinforces our commitment to ethical, legal, and responsible businesspractices but also sets a high bar for environmental conservation, occupational health and safety, andfair labor practices among our suppliers.
We employ a thorough vetting process in our supplier accreditation. Through our suppliers’ mandatory
adherence to the Code of Conduct, we aim to mitigate significant risks, such as child labor and unsafe
working conditions. In 2024, we aim to deepen this engagement by expanding the coverage of the
Supplier Sustainability Questionnaire to an additional 500 suppliers representing 10% of the Group’s
supplier base. Our goals for this endeavor are to baseline our suppliers’ ESG performance, identify andmitigate any ESG risks before they escalate, help our suppliers enhance their sustainability practices overtime, and foster a culture of transparency and accountability for their ESG performance.
67

Furthermore, in 2024, we will conduct Supplier Awareness Training on sustainability and prepare periodic
assessment reports on the sustainability compliance of all our suppliers. Suppliers will be assessed yearly
to monitor their progress.
Additionally, we will be engaging a third-party consultant to help us obtain and validate the ESG
credentials of our suppliers. We have engaged in discussions with a handful of vendors in 2023, eachoffering unique capabilities to automate and enhance our supply chain data and analytics. This
engagement is also crucial for us to have a more accurate and complete understanding of our Scope 3
GHG emissions.
Through these engagements, we aim to set new benchmarks for sustainability in our industry, creating aripple effect the encourages our suppliers to join us in this critical journey. For more insights into our
Supplier Code of Conduct, we invite you to visit San Miguel’s company website athttps://www.sanmiguel.com.ph.

4.2 Business Ethics and Compliance
GRI 2-15 | GRI 2-16 | GRI 2-23 | GRI 2-24 | GRI 2-25 | GRI 2-26 | GRI 205-1 | GRI 205-2 | GRI 205-3

San Miguel Corporation remains steadfast in upholding the utmost standards of integrity, fairness andhonesty, and believes that these principles are the anchor of the Company’s success in all its
undertakings.
We are firm believers that to establish a truly enduring enterprise, a commitment to exemplary
governance must be ingrained at every echelon of the organization. This cannot be overemphasized in
the light of the risk exposure inherent in the businesses that SMC is in.
Aligned to its vision of creating a resilient and globally competitive Philippines, SMC is engaged inindustries that form the backbone of the country’s economy, such as power, fuel and oil, infrastructure,transportation, and manufacturing. The need to deal with various national and local government agencies
on these projects through bidding, negotiation and compliances to regulation, potentially exposes thecompany to ethical breaches. To mitigate the risk of irregularities and wrongdoing, SMC has strengthened
its policies and systems.
The policies that safeguard our business ethics include the following, which can be found in full at
https://www.sanmiguel.com.ph/page/company-policy.
••••

Code of Conduct and Ethical Business Policy
Whistleblowing Policy
Anti-Corruption and Sanctions Compliance Policy
Conflict of Interest Policy

Our Code of Conduct and Ethical Business Policy cites SMC’s core values of integrity, honesty, impartiality
and professionalism as the basis of how directors, officers and employees should conduct themselves. Itemphasizes respect for human rights, data privacy and fair competition, and provides the framework forother policies that deal with the quality of products and services, health, safety and the environment,
and business integrity. Among other provisions, it requires directors, officers and employees to fully
disclose potential conflicts of interest in relation to their scope of work and responsibilities, and to avoid
soliciting or receiving gifts or favors from any third-party provider. The Code also explicitly defines theboundaries of political activities to exclude making payments or contributions to political parties, whileallowing company representatives to express SMC’s position on matters affecting it and respecting theright of individuals to participate in the political process on a clearly personal basis.
Our Whistleblowing Policy covers illegal or non-compliant conduct and actual or suspected misconduct,
which may be harmful to the Company on the part of directors, officers, employees or business partners.
It assures confidentiality to the extent permitted by law and protection of the whistleblower against any
form of retaliation or harassment. The policy is supported by standard procedures for handlingallegations made and for arriving at a final disposition of each. A Whistleblower Relations Officer is tasked
to receive and perform an initial evaluation of supporting evidence and if warranted, endorse the report68to the Whistleblowing Committee (WBC) composed of the Chief Compliance Officer, Chief Finance Officer
and the head of Corporate Human Resources for further investigation. The WBC then reviews the results
and recommends appropriate action for those involved to the Chief Executive Officer.
For 2023, nine actionable whistleblowing reports were received. The nature of the reports covered
alleged fraud, abusive or discriminatory behavior and falsification or tampering of records. Two of thereports have been closed, three are still in the initial fact-finding stage while four are under investigation.
Additional complaint emails received were outside the scope of the policy (e.g., product complaints) andwere referred to appropriate units for proper handling.
The Anti-Corruption and Sanctions Compliance Policy sets forth SMC’s stance of zero tolerance forbribery, corruption, money laundering and violation of sanctions, defining each of these violations clearly.
It also imposes disciplinary action on any company personnel proven to have violated the terms of thepolicy, including and up to termination of employment. Should any third party be involved in such
violation, their contract may be reevaluated or terminated, consistent with applicable laws and the termsof the contract.
The Conflict-of-Interest Policy is based on the principle that officers and employees have a duty to act in
the best interest of the Company. In the event that their personal financial or business interests may
conflict with the interests of the Company, proper disclosure should be made and a review by higher
management should be undertaken to resolve the conflict. A Full Business Interest Disclosure form mustbe filled out by each officer and employee, and amended as necessary should subsequent conflicts arise.
Efforts must be exerted by the officer or employee and their superior to eliminate or minimize suchconflicts but failing to do so, the duties of the officer or employee may be modified or cut short.
The above-mentioned policies were last reviewed in 2022 after which all officers and employees wererequired to attend a briefing and sign an acknowledgement form to indicate that said policies had beencascaded to them. These policies are now part of the onboarding process for new employees andrefresher sessions will be conducted annually for all.

4.3 Risk Management
GRI 205-1

In an ever-evolving business landscape, the importance of a robust ERM framework cannot be
overstated. Section 2.2.1.3.2 of San Miguel’s Manual on Corporate Governance, adopted on May 10,
2017, lays down our policy on ERM. The section mandates the Board of Directors to ensure that aneffective ERM framework is in place to identify, assess, and manage key business risks.
Moreover in 2017, our Board of Directors reorganized the Audit Committee into the Audit and Risk
Oversight Committee to include the additional function of overseeing San Miguel's ERM. The
Committee’s functions encompass defining a risk management strategy; identifying and analyzing key
risks exposure relating to economic and ESG factors; categorizing risks based on levels of severity;
establishing a risk register; developing a risk mitigation plan for the most important risks; andcommunicating and reporting significant risk exposures to the Board.
The Chief Risk Officer (CRO), also integral to our ERM architecture, has the ultimate stewardship of ERM.
The CRO's duties span overseeing the ERM process, strategizing implementation, and fosteringcontinuous improvement, alongside reporting risk management insights and status updates to the Audit
and Risk Oversight Committee.
The Audit and Risk Oversight Committee and the CRO are supported in their roles by San Miguel Group
Audit (SMGA), which oversees the internal audit functions of our business units. The respective Internal
Audit groups of our subsidiaries undertake both regular and ad hoc reviews of their internal controls andprocedures and report their findings to SMGA.
Given the geographical spread of San Miguel’s facilities, a unit lodged under SMGA is tasked to conductmulti-functional audits of operating facilities nationwide. Corporate Technical Audit implements theseaudits covering utilities, mechanical and electrical operations and maintenance, environmental69

management and safety management, and include verification of compliance to regulatory standards,
availability of operations and safety manuals, required staffing and adherence to corporate policies andstandard practices. A comprehensive report is submitted to management after each audit listing thesignificant findings and recommendations of the audit team. Over the last three years, Corporate
Technical Audit has conducted a total of 120 audits nationwide.
In the area of climate-related risk management, addressing the challenge of climate change is imperative
to sustaining our operations and ensuring the resilience of our supply chain. The unpredictable nature ofclimate-related events—such as typhoons, droughts, and floods—has the potential to significantly
disrupt our operations and affect the timely delivery of our products and services. Hence, we are actively
developing and refining initiatives aimed at both mitigating the impacts of climate change and adapting
to its evolving challenges. Our current endeavors include assessing the integration of the TCFD guidelines
into our ERM framework.
In the procurement realm, we have established the Procurement Governance Group (PGG), a dedicatedbody that ensures our procurement activities are conducted with the utmost integrity and efficiency.
PGG's mandate includes a thorough review and improvement of existing procurement policies,
guidelines, and procedures in partnership with all relevant functions and business units, ensuring ourpractices are aligned with sustainable and ethical standards. Additionally, PGG conducts comprehensive
compliance and operational audits on procurement transactions and spearheads training programs toelevate the skills and knowledge of our personnel in procurement-related functions. Furthermore, tofoster a culture of continuous learning and risk management, we periodically rotate procurement staff
across different business units. This initiative not only serves as a proactive measure to enhance
operational integrity but also enriches our employees' professional development.
Through a commitment to maintaining a robust ERM framework, we not only ensure the continuity of
our operations but also strengthen the trust of our stakeholders in our brand. By staying vigilant tocurrent and emerging risks and opportunities, we position ourselves to navigate the complexities of thebusiness environment effectively, ensuring sustainability and long-term success.

4.4 Digital Transformation
GRI 2-23 | GRI 2-24 | GRI 203-1 | GRI 203-2

For San Miguel, digital transformation is not just a pathway to progress but also an opportunity to molda future where technology and sustainability successfully converge. At the heart of our digitaltransformation efforts is our commitment to advance our cybersecurity program and harness the powerof our data analytics.

Fortifying Our Cybersecurity Program
San Miguel's cybersecurity management system is aligned with global standards and certifications. We
have continually advanced our Information Security Management Systems (ISMS) since updating ourInformation Security Policies in 2020, under the guidance of an external consulting group. These policies
and guidelines, customized to align with ISO 27001 best practices and National Institute of Standards andTechnology (NIST) standards, have been implemented across our organization.
Our cybersecurity measures adhere to an Implementation Roadmap, grounded in ISO 27001 principles
and our ISMS Policies and Guidelines. We regularly evaluate our cybersecurity controls against the SMC
Cybersecurity Framework, based on NIST CSF, to identify and rectify any deficiencies. Notable efforts,
including the launch of our Security Operations Center (SOC), have been instrumental in bridging thesegaps. At SMC, we are committed to aligning our security measures with international best practices,leveraging standards such as the Center for Internet Security (CIS) Benchmarks and NIST, supplemented
by insights from external consultants and white papers.
The Information Security Steering Committee, consisting of executive department heads, governs ourcybersecurity efforts. This committee is backed by the Information Security Technical Working Group(TWG), which includes representatives from various departments, ensuring a multidisciplinary approach70

to information security governance. This structure facilitates comprehensive oversight, allowing us toholistically address concerns.
Operational oversight of cybersecurity falls to the Corporate IT Group, led by a head who reports directly
to the President of SMC. Furthermore, the IT Security Council—comprising the SMC IT Security Manager
and Information Security Officers from various San Miguel business units—convenes monthly to aligninformation security initiatives across the organization.
We have established protocols to monitor and respond to data breaches and cyberattacks promptly. In
collaboration with SMITS, a subsidiary specializing in IT and security operations, our 24/7 SOC proactively
identifies and mitigates potential security incidents, thereby safeguarding the organization from potential
adverse impacts.
Endpoint Security and detection controls are pivotal in our strategy, enabling swift identification andresolution of threats like malware and ransomware through regular updates and Threat Intelligencesources. Our Endpoint Management Platform centralizes the oversight of endpoint devices, while
encryption methods protect the confidentiality of our information.
Adopting a Defense-in-Depth strategy, we fortify our networks, internet, and application systems against
cybersecurity threats with a multi-layered security approach. The SOC plays a critical role in preempting
network attacks through best practice solutions, while Secure Network Zoning and Network
Segmentation ensure that only registered and authenticated PCs can access our network.
To secure on-premise and cloud-based application systems, we implement Centralized Authentication,enhancing user access security with Multi-factor Authentication and stringent password policies. Regularreviews of access rights ensure the integrity of our application systems and infrastructure.
Ensuring the availability and resilience of our IT systems is paramount. Our adherence to industry-leading
Backup and Recovery, Business Continuity Management (BCM), and IT Service Continuity practices is
integral to our organization-wide BCM and crisis management initiatives. Our Disaster Recovery protocols
support our primary and backup Data Centers, with our Wide-Area Network designed for high availability
through redundant, multi-vendor connections.
We conduct internal security audits, vulnerability assessments, and penetration testing to mitigate risks.
Regular Vulnerability Assessments (VA) and Penetration Testing (VAPT) safeguard our assets against
potential exploits by malicious attackers. Collaboration with SMGA and Internal Audit groups at businesslevel has facilitated reviews of our SOC and critical network infrastructure, ensuring robust security
measures.
As part of our ISMS and Cybersecurity Framework, we have implemented necessary tools, technologies,
and processes to protect against cybersecurity threats, conducting regular evaluations to identify security
gaps. Monthly information security training sessions and advisories reinforce the significance ofcybersecurity among our employees, effectively raising awareness and promoting vigilance against
phishing attempts.
Looking ahead, we plan to further strengthen our cybersecurity posture with targeted audits, refresher
training sessions, an expanded cybersecurity organization, and enhanced security controls, preparing us
to confront emerging threats head-on.

Transforming Data Analytics into Action
For over five decades, Operations Research (OR) has been instrumental in driving our Company's
achievements. Through detailed analysis and optimization, we have made strategic decisions that havesignificantly advanced our position in the industry.
In 2021, we embarked on an exciting journey to transform and expand the OR group into the Data andAnalytics Group (DAG), positioned directly under the Office of the President. Charged with harnessing
the transformative potential of our Company's data, DAG crafted a comprehensive data strategy
71roadmap. This plan outlines our approach to managing and leveraging corporate data to produce
actionable insights.
The strategy's core elements include the creation of a Data Management framework, emphasizing datacollection, cleansing, organization, storage, and the implementation of robust access and protection
rules. This framework is designed to guarantee data quality, security, and compliance with pertinent
regulations. Equally important is the development of a state-of-the-art Data Platform Infrastructure,
integrating the necessary hardware, software, networking, and storage solutions to facilitate data
handling from collection to analysis. Enriching Operations Research with Advanced Analytics is key toextracting data value, discerning trends, and converting insights into decisions backed by evidence.
Additionally, promoting a data-centric culture through Data Literacy initiatives is vital. These initiatives
aim to enhance employees' ability to ethically use data via workshops, leadership discussions, andongoing education. Aligning with SMC businesses to fuse strategic goals with analytics-driven innovation
supports sustainable growth and enduring success.
Over the past two years, DAG has spearheaded pilot projects in partnership with various businesses andcorporate functions. Noteworthy projects include automating routine data tasks to save time andstreamline data processing, utilizing visualization tools to transform static spreadsheets into dynamic
dashboards, and leveraging analytics to identify customer engagement opportunities. These efforts havefacilitated cross-business synergy, unlocking new revenue streams and product engagement. DAG's
dedication to fostering a learning environment is evident from the 15 Thought Leadership and brownbag
sessions conducted since 2022, amounting to over 21 hours of learning, highlighting our commitment tocontinual growth and innovation within the San Miguel Group.
Because of these efforts, we see heightened collaboration across departments, with an increasing
number of discussions centered on data utilization and insights. Moving forward, we aim to broaden our
impact across more San Miguel entities, developing an infrastructure that empowers users to access andinteract with data securely and effectively.

4.5 Data Privacy and Security
GRI 2-23 | GRI 2-24 | GRI 418-1

COMPLAINTS CONCERNING BREACHES OF CUSTOMER PRIVACY
2023
Complaints received from outside parties and substantiated0by the organization
Complaints from regulatory bodies
0
LEAKS, THEFTS, OR LOSSES OF CUSTOMER DATA
2023
Identified leaks, thefts, or losses of customer data
0

2022
0
0

2022
0

SMC has been one of the pioneers in data privacy implementation since 2016 when the Implementing
Rules and Regulations (IRR) of the Data Privacy Act of 2012 (DPA) was opened for public consultation.
In 2017 SMC released the Board-approved SMC Personal Data Privacy Policy, created an independent
corporate service unit called the Data Privacy and Security Office (DPSO), and appointed a dedicated SMC
Data Protection Officer (DPO), with the mandate of ensuring SMC’s compliance and overseeing the same
compliance across the entire SMC group.
The DPSO organized the SMC DPO Council, composed of DPOs from approximately one hundred SMC
entities, which successfully completed the mandatory registration of SMC and SMC businesses with the
National Privacy Commission (NPC). Created alongside the DPO Council was the SMC COP (Compliance
Officer for Privacy) Council composed of Data Privacy champions from thirteen CSUs, who function as
the Data Privacy frontliners in their respective CSUs. These two Councils are empowered to ensuresustainability of data privacy compliance of the Group. They meet regularly to share knowledge, learn
72

from resource experts, set directions, align strategies and discuss other relevant matters.
The journey to DPA compliance began with the NPC’s Five Pillars of Compliance and 32-Point Checklist.
Mandatory data privacy programs were implemented, including the integration of Privacy Statements
and Notices in personal data collection platforms, both printed and online, for all categories of SMC data
subjects. These categories include customers, suppliers, visitors, stockholders, directors, applicants for
employment, employees, and other data subjects. Consents, as applicable, are obtained accordingly.
The SMC Privacy Manual was formulated as the framework for implementing the DPA in SMC. Privacy
Impact Assessment (PIAs) were conducted to identify processes that handle personal data , to determine
the flow of data as well the threats, vulnerabilities, and gaps that may lead to security incidents or data
breaches, along with recommended mitigation measures. This PIA program has been institutionalized forready updating or adoption by new entities.
The data privacy ecosystem at SMC is sustained through continuous DPA Awareness Trainings (DPAAT)
for new employees, and continuing awareness campaigns for all employees, through both in-person andvirtual platforms. Training the Trainers programs are also conducted by SMC and its subsidiaries to ensure
the continuity of the program. Also, the Data Privacy practitioners of the SMC group participate insummits, conferences, and NPC sectoral engagement activities.
SMC has in place a Breach Management System, managed by a Committee that conducts breach drills
to prepare the data privacy teams to manage incidents and breaches, and to avoid any breach panic. Data
Subjects Care is also in place, accessible via the POs’ registered email and landline, to manage any
complaint or accept suggestions from internal and external sources.
To ensure the sustainability of SMC Group’s compliance, the SMC ata Privacy Compliance Monitoring
System (DPCMS) was developed in 2018 and has been the anchor of the SMC Privacy Excellence Awards
which recognizes the efforts and accomplishments of DPOs, COPs, and other data practitioners throughfour categories of awards.
SMC has adopted NPC’s Compliance Check approach to validate its compliance. Regular privacy sweepsof publicly available online platforms, including websites, social media sites, and other communication
channels, including NPC-registered email, landline, and mobile numbers, are conducted. Documents tosubstantiate compliance are evaluated, along with onsite visits for the evaluation of the Company’s
Privacy Management Compliance and DPS.
For 2023, the goals for Data Privacy include (1) the automation of DPCMS; (2) expanding the platform of
DPAAT; and (3) institutionalizing the Privacy Audit, which is an external audit mechanism.
SMC PSO and its Councils embrace SMC’s core value of malasakit by promoting Data Privacy to ourthird-party service providers either through a standard data privacy provision in their contract, or aseparate Data Sharing Agreement. They also actively support the NPC’s P Council as executive officers
and sectoral officers conducting awareness campaigns and sharing their expertise with the community.
In recognition of such efforts, NPC awarded SMC as the Personal Information Controller of the Year and
our Data Privacy head as the DPO of the Year in 2021. These recognitions have inspired SMC Group tocontinuously improve and sustain its data privacy compliance activities.

73

5 Moving Forward Message
Periodically, external forces reshape the business world in a massively transformative way. In the 90s andearly 2000s, these forces were globalization and the information technology revolution. But the climate
crisis potential impact on the way we do business may rival them both.
For San Miguel, there is no sitting on the sidelines. As the world faces the challenges of climate change,sustainable practices, and innovative solutions offer new avenues for growth and a new way forward. For
many years now, we have devised strategies to reduce our risk—our Water for All advocacy to halve ourwater use by 2024 is one concrete example—adopted more circular economy practices, retrofitted
existing infrastructure, and contributed emissions reduction efforts, creating a competitive advantage forour business and our country.
We understand and accept that San Miguel’s businesses broadly impact investment and our country’s
progress and development. The multiplier effects of our operations—over 100 facilities and an estimated
50,000 directly employed employees—can be enormous, changing the outcomes for communities allover the Philippines. As such, we have taken a hard-nosed look to find opportunities to create
environmental and social good nationally; the dredging of the Pasig River, our regional infrastructure
projects, and the expansion of our poultry farms are just three examples.
Over the last year, we have made every effort to assess and understand our impact. This inside-out step,
studying our value chain from both inbound and outbound logistics to marketing and after-sales service,
has been necessary and instructive. We continue to improve resource efficiency across our operations,
including energy, materials, water, and waste management. We are working toward adopting lowemission energy sources such as solar and hydropower and are increasing investments in energy storage
capabilities.
Moving forward, our business models and strategies include initiatives to mitigate climate-related costs
and risks in our value chain as a matter of operational effectiveness and social responsibility. By acting
proactively, we understand that we can take advantage of new business opportunities and—more
importantly—contribute to the greater good.
In the coming year, we will strive to understand the emissions our business partners produce and develop
actionable plans to reduce our carbon exposure.
A growing number of our employees belong to Gen Y or Gen Z—young people who care deeply about
issues and do their share for the environment and communities.
Sustainability reporting has proven an effective stimulus for dialogue across our multigenerational
workforce. As climate change risks become more evident, so do our collective efforts to mitigate its
effects. Across our business, we invest time, attention, and resources to embed environmental and social
responsibility into our organizational culture.
In truth, the reporting process has been no easy feat, yet we have grown as an organization because of
the rigor it demands. The discipline and considerable thought that has gone into sorting out areas ofmateriality and the data necessary to determine whether we are making progress, among others, hasforced us to think about strategy and our approach to managing climate change risk and to be open to
new opportunities. Indeed, sustainability issues moving into mainstream and everyday discourse can only
be good. By aligning our efforts with the urgency of the climate crisis, San Miguel is doing its share topave the way for a more sustainable and prosperous future.

74

6 Appendices6.1 Scope and Coverage of the Report
GRI 2-2•

Food and Beverage:o San Miguel Food and Beverage, Inc. (SMFB)o San Miguel Brewery, Inc. (SMB)o Ginebra San Miguel Inc. (GSMI)
o San Miguel Foods, Inc. (SMFI)o The Purefoods-Hormel Company, Inc. (PHC)o Magnolia Inc. (MI)o San Miguel Mills, Inc. (SMMI)o San Miguel Super Coffeemix Company, Inc. (SMSCCI)o Golden Bay Grain Terminal Corporation (GBGTC)•
Packaging:o San Miguel Yamamura Packaging Corporation (SMYPC)o Mindanao Corrugated Fibreboard Inc. (MINCORR)•
Fuel and Oil:o Petron Corporation (PETRON)•
Energy:o San Miguel Global Power Holdings Corporation (SMGP)•
Infrastructure:o San Miguel Holdings Corporation (SMHC)•
Cement:o Northern Cement Corporation (NCC)o Eagle Cement Corporation (ECC)
Southern Concrete Industries, Inc. (SCII)•
Others:o San Miguel Properties Inc. (SMPI)o SMC Shipping and Lighterage Inc. (SMCSL)o SMC Asia Car Distributors Corporation (SMCACDC)o San Miguel Information Technology Services, Inc. (SMITS)− Process Synergy Inc. (PROSYNC)o San Miguel Integrated Logistics Services, Inc. (SMILSI) and related companies
Notes:* A number of entities and operations covered by SMC’s 2023 Annual Report are not within the scope of this Report,
namely: (a) SMC’s international operations, (b) SMHC’s Aerocity project, and (c) Bank of Commerce (BankCom).
** SMHC’s Aerocity project is not in scope, as the project is still in the early stages of development. Nonetheless,the project’s ESG impacts are being monitored and governed by the International Finance Corporation according tointernationally recognized standards.
** BankCom’s ESG data has not yet been included in this Report, as it is an affiliate of SMC whose performance is
not consolidated with the Group.

756.2 ESG Performance IndicesA. Economic
ECONOMIC PERFORMANCE
2023
Direct economic value generated (revenues)
1,460,838
Economic value distributed
1,418,049
Operating costs (including payment to suppliers)
1,002,659
Payments to government (taxes)
227,222
Payments to providers of capital (investors and
136,140
shareholders)Community investments (expenses for CSR projects)
539
ECONOMIC VALUE RETAINED
42,7892022
1,515,784
1,482,050
1,158,041
175,388
103,033

Unit
Mn PhP
Mn PhP
Mn PhP
Mn PhP
Mn PhP

498
33,734

Mn PhP
Mn PhP

B. Environment

Scope 1 GHG emissions
Scope 2 GHG emissions
Total Scope 1 and 2 GHG emission
Emissions of ozone-depleting
substances

GHG EMISSIONS
2023
2022
21,294,878.70
17,580,434.18
1,130,855.60
734,868.31
22,425,734.29
18,315,302.49
Not yet being monitored

GHG EMISSION INTENSITY
2023
2022
Fuel & Oil (Integrated Refinery& Co-Generation Facility)
Power
CementOther Businesses in Scope

54.01

58.10

0.82
0.58
2.27

0.92
N/A*
2.40

Unit
MT CO2e
MT CO2e
MT CO2eUnit
MT CO2e / Mn Barrel of Crude
Processed
MT CO2e / MWh
MT CO2e / MT Volume
MT CO2e / Mn PhP* 2023 scope includes ECC and SCII, in addition to NCC.
** This includes Food and Beverage, Packaging, Infrastructure, Properties and others.

BIOGENIC CO2 EMISSIONS
2023
2022
Unit
Biogenic CO2 emission (Scope 1)
95,447.11
84,957.13
MT CO2eBiologically sequestered CO2 emission
Not yet being monitored

Fuel reduction
Electricity reduction
Total GHG Reduction

Nitrogen oxides (NOx)
Sulfur oxides (SOx)Particulate matter (PM)
Carbon monoxide (CO)Persistent organic pollutants (POPs)

GHG REDUCTION
2023
207,369.45
61,301.15
268,670.60

2022
3,861.21
5,730.52
9,591.73

NON-GHG EMISSIONS
2023
2022
12,653.96
14,806.23
37,019.71
39,850.22
3,531.12
2,991.93
7,698.07
7,500.94
Not being monitored

Unit
MT CO2e
MT CO2e
MT CO2e

Unit
MT
MT
MT
MT

76

Volatile organic compounds (VOCs)
Hazardous air pollutants (HAPs)
ENERGY CONSUMPTION
Energy consumption (renewable sources)
Energy consumption (non-renewable)
Energy consumption (electricity, heating, cooling, steam)
Self-generated energy which are not consumed
Sold Energy (electricity, heating, cooling, steam)
TOTAL NET ENERGY CONSUMPTIONENERGY INTENSITY
2023
Fuel & Oil (Integrated Refinery & CoGeneration Facility)
Power
CementOther Businesses in Scope

2023
2022
622,457.50
587,338.84
212,596,958.69 187,956,160.89
5,685,624.80
3,733,719.05
1,761,108.56
1,266,516.69
49,285,854.15 43,575,701.56
171,380,295.39 149,968,033.90

2022

684

717

6.85
2.46
22.90

7.47
N/A
24.34

OPERATIONAL SPENDING ON ENERGY
2023% Operational spending on energy
32.95
Operational spending on energy
85,860.48
TOTAL OPERATIONAL SPENDING
260,560.00
GRID ELECTRICITY
2023

Unit
GJ
GJ
GJ
GJ
GJ
GJ

Unit
GJ / Mn Barrels Crude
Processed
GJ / MWh
GJ / MT Volume
GJ / Mn PhP

2022
38.26
88,164.87
230,421.20

2.49
3,733,719.05
149,968,033.90

Unit
%
GJ
GJ

REDUCTION IN ENERGY CONSUMPTION
2023
2022
Fuel reduction
2,318,634.39
67,538.26
Electricity reduction
309,929.20
35,789.72
TOTAL ENERGY REDUCTION
2,628,563.58
103,327.98

Unit
GJ
GJ
GJ

% Grid electricity
Purchased grid electricity consumption
TOTAL ENERGY CONSUMPTION

Water withdrawal
Surface water *Ground waterSea water
Rainwater
Produced water
Third-party water
Water discharged
Stored water
TOTAL WATER CONSUMPTION
Water recycled and reused% Water recycled and reused

3.32
5,685,624.80
171,380,295.39

WATER CONSUMPTION
2023
3,471,354.21
1,810.97
27,816.38
3,359,752.85
409.86254.8681,309.29
3,453,834.58
6.25
17,525.88
1,955.23
1.75

2022

Unit
%
Mn PhP
Mn PhP

2022
3,064,480.19
1,288.95
25,467.74
2,971,895.76
474.57206.3065,146.88
3,047,591.85(5.50)
16,882.83
1,457.40
1.57

Unit
ML
ML
ML
ML
ML
ML
ML
ML
ML
ML
ML
%

77

*Excludes fresh water passing through Angat Hydro Power Plant which is not under SMC’s control and does not undergo any
processing. The power plant converts the potential energy of water into electrical energy and discharges this as domestic waterto Metropolitan Waterworks and Sewerage System (MWSS) and irrigation water to the National Irrigation Administration.

WATER WITHDRAWAL FROM AREAS WITH WATER STRESS
2023
2022
TOTAL WATER WITHDRAWAL
3,164,534.15
3,061,312.05
Surface water
1,151.85
985.94Ground water
26,676.37
22,447.55
Sea water
3,054,907.78
2,972,163.30
Rainwater
405.45469.88
Produced water
254.86206.29
Third-party water
81,137.84
65,039.08
WATER DISCHARGE BY DESTINATION
2023
TOTAL WATER DISCHARGE
3,453,834.58
Surface water
8,631.98
Ground water
423.88
Sea water
3,365,048.67
Third-party water
79,730.05
Total water discharge to areas with water stress
4,283,586.84

2022
3,047,591.85
7,706.27
694.452,976,302.03
62,889.10
2,716,591.85

NON-COMPLIANCE WITH WATER-RELATED LAWS AND REGULATIONS
2023
2022
Total monetary fines for non-compliance
130,738.44 384,000.00
Incidents for non-compliance (monetary & non-monetary)5
13

Renewable materials used
Non-renewable materials used
TOTAL MATERIALS USED
% Renewable materials used
Recycled materials used
% Recycled materials used

MATERIALS USED
2023
5,853,712.38
20,628,022.17
26,481,734.55
22.10
1,027,683.61
3.88

2022
5,383,035.14
10,292,968.74
15,676,003.87
34.34
442,526.92
2.82

Unit
ML
ML
ML
ML
ML
ML
ML

Unit
ML
ML
ML
ML
ML
ML

Unit
PhP
No.

Unit
MT
MT
MT
%
MT
%

COAL ASH MANAGEMENTTOTAL COAL COMBUSTION RESIDUALS (CCR) GENERATED
Weight of CCR that was reused or reclaimed
Weight of CCR recycled (through treatment or processing)
Weight of CCR sent externally for further recycling% of CCR recycled

2023
616,448.06
744.94
1,393.27
270,133.80
44.17%

2022
566,641.30
29.68
1,655.26
290,797.86
51.62

SOLID WASTE MANAGEMENT (EXCLUDING COAL ASH)
2023
2022
TOTAL SOLID WASTE GENERATED
323,108.92
330,553.20
Reused3,919.20
1,487.57
Recycled
264,700.28
273,076.70
Other recovery operations
13,099.23
24,055.73
Incineration (with energy recovery)
146.35170.50Incineration (without energy recovery)
0.00
6.30
Landfilling
23,312.91
21,194.31
Other disposal operations
17,930.95
10,562.09

Unit
MT
MT
MT
MT
%

Unit
MT
MT
MT
MT
MT
MT
MT
MT
78

SOLID WASTE GENERATED (EXCLUDING COAL ASH)
2023
2022
TOTAL SOLID WASTE GENERATED
323,116.66
330,553.20
Residual, mixed
14,231.74
10,228.68
Biodegradable, mixed
9,177.66
5,999.42
Ferrous metal
5,777.83
6,476.74
Aluminum
1,120.85
1,243.73
Plastic
2,998.78
4,896.81
Wood
1,514.67
1,715.42
Paper and cartons
7,977.01
7,574.06
Glass, cullets, jars
103,284.77
89,983.89
Tires
280.57176.96
Sacks
2,348.16
2,228.03
Mortalities
321.02260.58Feathers, blood, offals
7,660.13
4,650.23
Spent grains, spent yeast
140,745.29
165,220.74
Inorganic sediment, eggshell, filter aid
6,122.64
11,696.26
Organic sludge, scum
19,465.33
18,201.65
Concrete debris
90.20
0.00

Unit
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT

SOLID WASTE DIVERTED FROM DISPOSAL
2023
TOTAL SOLID WASTE DIVERTED FROM DISPOSAL
281,711.58
Residual, mixed
25.67
Biodegradable, mixed
3,940.70
Ferrous metal
5,078.03
Aluminum
1,113.08
Plastic
2,751.89
Wood
1,469.37
Paper and cartons
7,772.63
Glass, cullets, jars
103,283.58
Tires
105.82Sacks
2,333.89
Mortalities
311.62Feathers, blood, offals
6,464.62
Spent grains, spent yeast
140,745.29
Inorganic sediment, eggshell, filter aid
1,427.88
Organic sludge, scum
4,884.75
Concrete debris
2.76

2022
298,620.00
265.32
1,319.76
5,912.86
1,239.72
4,745.14
1,626.70
7,142.65
89,983.34
148.962,202.21
205.604,623.29
165,216.64
886.78
13,101.02
0.00

Unit
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT

SOLID WASTE DISPOSED
2023
41,397.35
14,204.26
5,236.92
699.807.77
246.8945.30
203.941.18
169.3414.27

2022
31,933.20
9,963.36
4,679.66
563.884.01
151.6888.72
431.42
0.55
28.01
25.82

Unit
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT

TOTAL SOLID WASTE DISPOSED
Residual, mixed
Biodegradable, mixed
Ferrous metal
Aluminum
Plastic
Wood
Paper and cartons
Glass, cullets, jars
Tires
Sacks

79

Mortalities
Feathers, blood, offals
Spent grains, spent yeast
Inorganic sediment, eggshell, filter aid
Organic sludge, scum
Concrete debris

9.40
1,195.51
0.00
4,694.76
14,580.58
87.44

54.98
26.93
4.10
10,809.48
5,100.63
0.00

MT
MT
MT
MT
MT
MT

HAZARDOUS WASTE MANAGEMENT
2023
Total hazardous waste generated
7,893.45
Total hazardous waste transported
10,532.942022
9,552.91
8,855.71

Unit
MT
MT

HAZARDOUS WASTE GENERATED
2023
TOTAL HAZARDOUS WASTE GENERATED
7,893.45
A-Cyanide waste
1.14
B-Acid waste
13.64
C-Alkali waste
32.12
D405-Chromium waste
1.32
D406-Lead compounds
86.55
D407-Mercury and compounds
26.74
D-Other inorganic chemicals
12.69
E-Reactive chemical waste
76.29
F-Inks/Dyes/Resins/Organic sludge
221.69G-Waste organic solvents
164.20H-Organic waste
940.21
I-Used oil and sludge
5,926.30
J-Containers
321.11
K-Stabilized wastes
L-Organic chemicals
1.30
M501-Infectious waste
4.87
M502-Asbestos waste
0.24
M503-Pharma and drugs
6.74
M504-Pesticide
M505-POPS
M506-WEEE
56.31

2022
9,552.91
1.45
29.11
26.48
3.02
94.09
16.07
10.41
2,745.98
288.79227.94127.13
5,585.53
282.45
0.03
2.99
0.00
0.11
111.34

Unit
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT

HAZARDOUS WASTE TRANSPORTED
2023
TOTAL HAZARDOUS WASTE TRANSPORTED
10,532.94
Reused45.90
Recycled
4,203.57
Other recovery operations
1,064.08
Incineration (with energy recovery)
256.59Incineration (without energy recovery)
193.42Landfilling
18.88
Other disposal operations
4,748.192022
8,855.71
113.892,548.14
540.84201.61224.4060.75
5,166.09

Unit
MT
MT
MT
MT
MT
MT
MT
MT

HAZARDOUS WASTE DIVERTED FROM DISPOSAL
2023
2022
TOTAL HAZARDOUS WASTE DIVERTED FROM
5,324.42
3,202.86
DISPOSAL
A-Cyanide waste
B-Acid waste
-

Unit
MT
MT
MT
80

C-Alkali waste
D405-Chromium waste
D406-Lead compoundD407-Mercury and compound
D-Other inorganic chemicals
E-Reactive chemical waste
F-Inks/Dyes/Resins/Organic sludge
G-Waste organic solvents
H-Organic waste
I-Used oil and sludge
J-Containers
K-Stabilized waste
L-Organic chemicals
M501-Infectious waste
M502-Asbestos waste
M503-Pharma and drugs
M504-Pesticide
M505-POPS
M506-WEEE

27.63
12.48
0.83
162.37114.01775.154,032.04
153.61
0.10
46.20

0.33
20.53
1.24
6.16
0.15
62.14
145.14
1.54
2,731.37
221.17
13.10

MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT

HAZARDOUS WASTE DISPOSED
2023
TOTAL HAZARDOUS WASTE DISPOSED
5,220.13
A-Cyanide waste
1.00
B-Acid waste
12.11
C-Alkali waste
48.04
D405-Chromium waste
0.23
D406-Lead compounds
78.53
D407-Mercury and compounds
7.94
D-Other inorganic chemicals
6.65
E-Reactive chemical wastes
889.65
F-Inks/Dyes/Resins/Organic sludge
32.49
G-Waste organic solvents
2.28
H-Organic waste
93.60
I-Used oil and sludge
3,996.49
J-Containers
24.75
K-Stabilized waste
L-Organic chemicals
M501-Infectious waste
1.31
M502-Asbestos waste
0.24
M503-Pharma and drugs
5.32
M504-Pesticide
M505-POPS
M506-WEEE
19.51

2022
5,652.86
1.34
15.01
16.31
0.78
60.48
8.49
0.42
668.02
80.66
8.80
78.82
4,691.00
4.31
2.00
0.01
16.40

Unit
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT

2022
9

Unit
No.

112.7414Ha.
No.

ECOSYSTEM AND BIODIVERSITY
2023
Operational sites owned, leased, managed in, or adjacent to11
protected areas and areas of high biodiversity value outsideof protected areas
Habitats protected or restored
1,861.80
IUCN red list species and national conservation list
29
species with habitats in areas affected by operations

81

NON-COMPLIANCE WITH OTHER ENVIRONMENTAL-RELATED LAWS AND REGULATIONS
2023
2022
Unit
Total monetary fines for non-compliance
337,991.83
Not yet being
PhP
monitored
Incidents for non-compliance (monetary & non-monetary)
6
No.

C. Social
All employee-related data exclude those on SMC personnel working in foreign operations and in
subsidiaries not within the scope of this Report.
NUMBER OF EMPLOYEES BY POSITION
2023
2022
Number % to Total% to
Number % to Total
Regular47,20888%
100%
44,027
88%
262
0.5%
1%
265
0.5%
1,644
3%
3%
1,367
3%
45,30285%96%42,395
85%
281
1%
182
0.4%
5,868
11%
5,799
12%
53,357100%
50,008100%

Regular employees
Officer
Middle manager
Rank and fileConsultants
Project-based employees
TOTAL EMPLOYEES% toRegular
100%
1%
3%
96%

NUMBER OF EMPLOYEES BY AGE
2023
Number% to Total
20,35638%
28,99254%
4,009
8%53,357100%

2022
Number% to Total
18,55937%
27,50455%
3,945
8%50,008
100%

Women
Men
TOTAL EMPLOYEESNUMBER OF EMPLOYEES BY GENDER
2023
Number% to Total
15,011
28%
38,34672%
53,357100%

2022
Number% to Total
13,582
27%
36,42673%
50,008100%

NCR
North Luzon
South Luzon
VisayasMindanao
TOTAL EMPLOYEESNUMBER OF EMPLOYEES BY WORK LOCATION
2023
Number% to Total
15,769
29%
7,997
16%
19,317
37%
4,740
9%
5,534
9%
53,357100%

2022
Number% to Total
14,989
30%
7,892
16%
18,299
37%
3,982
8%
4,846
10%
50,008100%

Under 30 years old
Between 30 and 50 years old
Over 50 years old
TOTAL EMPLOYEESOfficer
Middle manager
Rank and file
TOTAL

TRAINING HOURS BY POSITION
2023
Total Hours Ave. Hours / Head
3,937
16
54,55135
1,264,778
28
1,323,266
28

2022
Total Hours Ave. Hours / Head
4,979
19
35,10526
553,27913
593,363
14
82

WomenMen
TOTAL

TRAINING HOURS BY GENDER
2023
Total Hours Ave. Hours / Head353,66124
969,60525
1,323,266
25

2022
Total Hours Ave. Hours / Head
163,38113
429,98214593,363
14TOTAL

PERFORMANCE REVIEW BY POSITION
2023
No. of Reg.
Received % to Total No. of Reg.
Employees
Reviews
Employees
262
239
91%
265
1,644
1,414
86%
1,367
45,302
34,61776%
42,39547,20836,26077%
44,027

2022
Received % to Total
Reviews
219
83%
1,165
85%
20,80549%
22,189
50%

Women
Men
TOTAL

PERFORMANCE REVIEW BY GENDER
2023
No. of Reg.
Received % to Total No. of Reg.
Employees
Reviews
Employees
13,207
10,49879%
11,89034,001
25,77276%
32,137
47,20836,27077%
44,027

2022
Received % to Total
Reviews
7,252
61%
14,93746%
22,18950%

Officer
Middle manager
Rank and file
TOTAL

CAREER DEVELOPMENT REVIEW BY POSITION
2023
Total No. of Employees
Received Reviews
262
212
1,644
913
45,302
28,73647,20829,861% to Total
81%
56%
63%
63%

Women
Men
TOTAL

CAREER DEVELOPMENT REVIEW BY GENDER
2023
Total No. of Employees
Received Reviews
13,207
8,321
34,001
21,54047,20829,861% to Total
63%
63%
63%

Officer
Middle manager
Rank and file

SECURITY PERSONNEL TRAINED IN HUMAN RIGHTS POLICIES AND PROCEDURES*
2022
2023
Total number of security personnel
3,154
3,224
Security personnel trained in human rights
1,889
2,341
% Security personnel trained
60%
73%*All security personnel are third-party contracted.

Active CBAs
Total members

COLLECTIVE BARGAINING AGREEMENTS (CBAs)
2023
34
5,046

2022
34
5,059

83

EMPLOYEES COVERED BY OCCUPATIONAL SAFETY AND HEALTH (OSH) MANAGEMENT SYSTEM
2023
2022
Employees covered by an OSH management system
44,06345,797
Employees covered by an OSH management system
39,88019,468that have been internally audited
Employees covered by an OSH management system
33,47816,816that have been externally audited
WORK-RELATED INJURIES
Fatalities as a result of work-related injuries
Rate of fatalities as a result of work-related injuries
High-consequence work-related injuries
Rate of high-consequence work-related injuries
Recordable work-related injuries
Total employee hours worked

2023

2022

1
0.01
58
0.49
451
117,559,024

2
0.02
44
0.44
593
99,908,405

2023

2022

WORK-RELATED ILL HEALTH
Fatalities as a result of work-related ill-health
Rate of fatalities as a result of work-related ill-health
Recordable work-related ill-health
Rate of recordable work-related ill-health

Women
Men

Women
Men
Women
Men
Women
Men
Women
Men
Women
Men
Women
Men

AVAILMENT OF EMPLOYEE BENEFITS
Parental Leave
2023
Count
%
541
4%
1,737
5%

1
0.01
1,307
11.12

0.00
1,454
14.55

2022
Count
954
2,917

AVAILMENT OF EMPLOYEE BENEFITS
2023
Count
SSS
4,499
12,599
PhilHealth
2,104
6,472
Pag-ibig
4,194
10,767
Vacation Leave
8,331
20,348Sick Leave
6,294
14,264
Medical Benefits (aside from PhilHealth)
7,348
17,873

%
7%
9%

%
34%
37%
16%
19%
32%
32%
63%
60%
48%
42%
56%
53%
84

PRODUCT AND SERVICE INFORMATION AND LABELLING
2023% Significant product or service categories covered by100%
and assessed for compliance with requirements for
product and service information and labelling
Total incidents of non-compliance with regulations
0
and/or voluntary codes concerning product and service
information and labeling
Incidents of non-compliance with regulations resulting
0
in a fine or penalty
Incidents of non-compliance with regulations resulting
0
in a warning
Incidents of non-compliance with voluntary codes
0

2022
100%

5

0
5
0

MARKETING COMMUNICATIONS
Incidents of non-compliance with regulations concerningmarketing communications resulting in a fine or penalty
Incidents of non-compliance with regulations concerningmarketing communications resulting in a warning
Incidents of non-compliance with voluntary codes

2023
0

2022
0

0

0

0

0

PRODUCT SAFETY-RELATED RECALLS
2023
Total product safety-related recalls, including:0
Voluntary recalls
0
Involuntary recalls
0

2022
0
0
0

EMERGING MATERIALS AND CHEMICALS OF CONCERNS
2023
2022
Each business closely monitors emerging
Ethylene Oxide (EtO)
materials and chemicals of concern along withindustry peers and the concerned government
agency, such as the FDA. We reach out tointernational associations, such as the ASEAN
Food and Beverage Association, to gather more
information and learn from other countries.
FOOD SAFETY
Total notices of violation received that substantiate a violation ofadvisory and administrative code(s), statute(s), or otherrequirement(s) related to food safety% Notices of violations received related to food safety that wascorrected.
Notices of violations corrected
Total notices of violation received

Program

Education

2023
0

2022
0

0%

0%

0
0

0
0

LOCAL COMMUNITY ENGAGEMENTS
Project
As of December
As of December
31, 2023
31, 2022
Scholarships
Short-term courses
Brigada Eskwela

2,541
1,162
1,446
263

2,844
25
1,850
120

Unit

Students
Students
Classrooms
Schools85

HealthCommunity clinics

Feeding
1,000 Days project
Medical missions

2,102
13,7008
69,849
508
6,451
10
0

1,284
10,316
8
76,962
340
9,000
9
200

Patients
Consultations
Clinics
Meals
Patients
Patients
Areas
Hygiene Kits /PersonPersons
Areas
People'sOrganizations
HousesEnterprise

Livelihood assistance

323
17
12

126
5
3

Housing

Housing and waterprovision
Road accessNo new houses
constructed
22,769,822

280,359
19,644,794

27

58

Vehicles /Motorists
Sites

220
55
29
4
71
81,210
2,220
444
162
1,916
1,287
760

100
25
25
1
25
1,800
365
192
N/A
N/A
N/A

Square Meters
Species
Kilo Biomass
Sites
Members
Revenues
Persons
Families
Students
Persons
Families
Students

556

665

Women

Temporarily
Closed4,500

Farmers2022
200,498.63
176,372.23
376,870.86

Unit
Mn PhP
Mn PhP
Mn PhP

Infrastructure
Environmental

Restoration &conservation
Coral rescue
programBackyard Bukid
Better World
Tondo

Membership services

Better World
Smokey Mountain(started in
September 2023)
Better World
Cubao
Better World
DilimanMembership services

Membership services
Farmer's produce
programD. Governance
PROCUREMENT SPEND
2023
Procurement spend on local suppliers*
181,414.14
Procurement spend on foreign suppliers
107,099.86
TOTAL PROCUREMENT SPEND
288,514.00*A local supplier is a business whose address is in the Philippines.

Local suppliers
Foreign suppliers
TOTAL SUPPLIERSNUMBER OF SUPPLIERS BY LOCATION
2023
5,375
508
5,883

2022
5,852
595
6,447

86

Tier 1 suppliers
Non-Tier 1 suppliers
TOTAL SUPPLIERSNUMBER OF SUPPLIERS BY CLASSIFICATION
2023
40
5,843
5,883

2022
263
6,184
6,447

COMMUNICATION OF ANTI-CORRUPTION POLICIES AND PROCEDURES
2023% irectors to whom the organization’s anti-corruption
100%
policies and procedures have been cascaded% Officers to whom the organization’s anti-corruption
100%
policies and procedures have been cascaded
COMPLAINTS CONCERNING BREACHES OF CUSTOMER PRIVACY
2023
Complaints received from outside parties and substantiated0by the organization
Complaints from regulatory bodies
0
LEAKS, THEFTS, OR LOSSES OF CUSTOMER DATA
2023
Identified leaks, thefts, or losses of customer data
0

2022
100%
100%

2022
0
0

2022
0

87

6.3 Our Material Topics
GRI 3-2

Top 8 High Priority ESG material issues
Ranking
Material Issue
1
Climate Change
Action1

2

Resource
Management2

3

Sustainable Supply
Chain

4

Customer Welfare
and Responsibility

5

Employee
Engagement,
Training andDevelopment

6

Circular Economy

7

Community
Engagement
Business Ethics
and Compliance

8Moderate Priority ESG material issues
Ranking
Material Issue
9
Biodiversity andEcosystems

10

Employee Healthand Safety

11

Human Rights andLabor Practices

Definition
Taking proactive action to build resilience to climatechange impacts across the business by incorporatingclimate change risks and opportunities into decision
makingEfficiently and sustainably managing the company’s
resources (i.e., energy, water, waste) and othermaterials that are required to produce their products
and services
Managing ESG risks within a company's supply chain
and ensuring sustainable and responsible
procurement practices
Managing societal expectations, ensuring a smoothcustomer experience, and listening and responding
to customer feedback. This also includes treating
customers fairly in the conduct of our business, aswell as providing them with accurate, adequate, andeasily understood information on the services theyreceive
Employee training and development refers to thecontinued efforts of an organization to boost theperformance of its employees. Companies aim totrain and develop employees by using an array ofeducational methods and programs
Reducing waste generation and optimizing the use ofvaluable materials. Focusing on developing a circular
economy by transforming used materials into newmaterials and products
Supporting community development to improve thequality of life and reduce social inequality
The ethical conduct of a business includes risks
associated with corruption, fraud, and conflicts ofinterest as well as compliance with all regulations
and laws. It also extends to ensuring theorganization’s values, principles, standards, andnorms of behavior (e.g., code of conduct and code of
ethics) are developed and implemented
Definition
The impact that the business has on biodiversity
and natural ecosystems (both land and ocean) andany initiatives taken to mitigate or restore thenatural state
Employee health and safety is defined as SMC’s
ability to create and maintain a safe and healthy
workplace environment that is free of injuries,
accidents, fatalities, and illnesses
Upholding human rights and labor standards in theworkplace and across your supply chain, including
compliance with labor laws and internationallyaccepted norms and standards such as the UN
Guiding Principles on Business and Human Rights
and the International Labor Organization (ILO)88

12

Risk Management

13

Innovation and
Product Quality

14

DigitalTransformation

15

Diversity, Equity,and Inclusion

16

Data Privacy andSecurity

Encompasses the processes of identifying,assessing, and controlling threats to SMC’s capitaland earnings. These risks stem from a variety ofsources including financial uncertainties, legal
liabilities, technology issues, strategic management
errors, accidents, and natural disasters
Innovate, produce, and improve the quality of
products and services that meet customers’
expectations. This also includes the incorporation of
ESG considerations in the characteristics ofproducts and services (e.g., health and safety, andmanagement of the life cycle impacts of products
and services)
Using technology, such as AI and robotics, and the
evolving digital landscape to understand customer
preferences and trends to drive efficiency and value
creation
Diversity refers to a mixed and balanced
representation of workers in the organization,
regarding race, gender, ethnicity, religion, and othergroup identities; Inclusion refers to a workplace
where there are equal opportunities forcontribution and influence
The management of customer data confidentiality,
mitigation of data breach risks and protection of
personal data from unauthorized access or attacks.
This includes policies with regards to collecting
data, obtaining consent, and managing user
expectations regarding how data is used

Legend: E-Environmental, S-Social, G-Governance
1 Merged GHG Emissions and Climate Change Resiliency
2 Merged Water Security and Energy Management
Note: Economic performance is not included in the list, as this will be thoroughly discussed in our 2022 Annual Report896.4 Contributions to the UN SDGs
At San Miguel, there are many ways our sustainability programs and initiatives align with the global goals.
The following shows how our sustainability agenda and material ESG topics correspond and contributeto the UN SDGs.
Sustainability
Pillars

Material Topics

Contributing to the Following UN SDGs

Climate Change Action

Kalikasan(Good for
Planet)Resource Management

Circular Economy

Biodiversity and Ecosystems

Human Rights and Labor Practices

Employee Health and Safety
Employee Engagement, Training,and Development
Kalinga(Good forPeople)Diversity and Inclusion
Customer Welfare andResponsibility

Community Engagement

Sustainable Supply Chain

Business Ethics and Compliance
Kasaganahan(Good for
Progress)

Risk Management

Digital Transformation

Data Privacy and Security90

6.5 List of Membership Associations
GRI 2-28

MEMBERSHIPS IN ASSOCIATIONS
Airports Council International (ACI)
Association of Foundations (AF)
Association of Petrochemical Manufacturers of the Philippines (APMP)
Beverage Industry Assoc of the Phils. (BIAP)
Business for Sustainable Development (BSD)
European Chamber of Commerce of the Philippines (ECCP)
Federation of Philippine Industries (FPI)
Glass Manufacturers Association of the Philippines (GMAPI)
Go Negosyo
Integrated Mining Information and Education Region 1 (I-MINE)
League of Corporate Foundations (LCF)
LPG Industry Association (LPGIA)
Makati Business Club (MBC)
Philippine Alliance for Resource and Materials Sustainability (PARMS)
Philippine Association of Feed Millers Inc. (PAFMI)
Philippine Business for Social Progress (PBSP)
Philippine Chamber of Commerce and Industry (PCCI)
Philippine Chamber of Food Manufacturers Inc. (PCFMI)
Philippine Coalition on Volunteerism Inc. (PhilCV)
Philippine Council for NGO Certification (PCNC)
Philippine Disaster and Resilience Foundation Inc. (PDRF)
Philippine Electricity Market Board (PEMB)
Philippine Electricity Market Corporation (PEMC)
Philippine Independent Power Producers Association (PIPPA)
Philippine Institute of Petroleum (PIP)
Pollution Control Association of the Philippines (PCAP)
Retail Electricity Suppliers Association (RESA)
Safety Organization of the Philippines, Inc. (SOFI)
United Nations Global Compact (UNGC) | Global Compact Network Philippines (GCNP)

6.6 List of Accreditations and Certifications
GRI 403-1 | GRI 403-2 | GRI 416-1

LIST OF ACCREDITATIONS AND CERTIFICATIONSBUSINESSCERTIFICATIONSUNIT
FACILITY/LOCATION
ISO 9001:2015
GSMI
Distileria Bago, Inc.
Quality Management Systems
East Pacific Star Bottlers Phils. Inc. Cauayan Plant
East Pacific Star Bottlers Phils. Inc. -Ligao
Plant
GSMI Cabuyao Plant
GSMI Mandaue Plant
GSMI Sta. Barbara Plant
Food
B-Meg Plant - Bataan 1 & 2
B-Meg Plant - Bukidnon
B-Meg Plant - Bulacan
91

Packaging
PetronSMGP
SMHC
CementSMITS
SMCSL

B-Meg Plant - Cebu
B-Meg Plant - Davao del Sur
B-Meg Plant - Iloilo 2
B-Meg Plant - Isabela 1 & 2
B-Meg Plant - Leyte
B-Meg Plant - Misamis Oriental 2
B-Meg Plant - Pangasinan
B-Meg Plant - Tarlac
Magnolia Poultry Products Plant - Leyte
Purefoods-Hormel Cavite Plant 1 & 2
Ready-to-Eat Plant - Sta. Rosa, Laguna
Poultry Bataan (tolled)
PureBev International Corp. (tolled)
Manila Glass Plant
Petron Bataan Refinery
Amlan Terminal
Bacolod Terminal
Batangas Terminal
Bawing Terminal
Davao Terminal
Iligan Terminal
Isabel Terminal
Jimenez Terminal
Joint Oil Companies Aviation Fuel Storage
Plant
Legazpi Terminal
Limay Terminal
Mactan Aviation Fuel Storage
Mandaue Terminal
Navotas Terminal
Nasipit Terminal
Navotas Terminal
New Lube Oil Blending Plant
Ormoc Terminal
Palawan Terminal
Pasacao Terminal
Pasig Terminal
Poro Terminal
Rosario Terminal
Roxas Terminal
San Fernando Terminal
Subic Blending Plant
Tacloban Terminal
Tagoloan Terminal
Zamboanga Terminal
Limay Power Plant
Malita Power Plant
Manila Toll Expressway Systems, Inc.
Skyway Operations & Maintenance Corp.
Eagle Bulacan Plant
NCC Pangasinan Plant
SMC Data Center
Harbor Center
92

ISO 14001:2015
Environmental Management
Systems

GSMI

SMCSL

East Pacific Star Bottlers Phils. Inc. - Ligao
Plant
GSMI Mandaue Plant
GSMI Sta. Barbara Plant
Purefoods-Hormel Cavite Plant 1 & 2
Petron Bataan Refinery
Amlan Terminal
Bacolod Terminal
Batangas Terminal
Bawing Terminal
Davao Terminal
Iligan Terminal
Isabel Terminal
Jimenez Terminal
Joint Oil Companies Aviation Fuel Storage
Plant
Legazpi Terminal
Limay Terminal
Mactan Aviation Fuel Storage
Mandaue Terminal
Nasipit Terminal
Navotas Terminal
Ormoc Terminal
Palawan Terminal
Pasacao Terminal
Pasig Terminal
Poro Terminal
Rosario Terminal
Roxas City Terminal
San Fernando Terminal
Subic Blending Plant
Tacloban Terminal
Tagoloan Terminal
Zamboanga Terminal
Limay Power Plant
Masinloc Power Plant
Manila Toll Expressway Systems, Inc.
Skyway Operations & Maintenance Corp.
Eagle Bulacan Plant
NCC Pangasinan Plant
Harbor Center

Packaging

Manila Glass Plant

Food
PetronSMGP
SMHC
CementISO 15378:2017
Manufacture of Glass Containers for
Pharmaceutical Industry
ISO 17025:2017 General
Requirements for the Competenceof Testing and Calibration
Laboratories
ISO 22000:2018
Food Safety Management Systems
FSSC 22000
Food Safety Management System

SMB

GSMI
SMB
GSMI
Food

Polo Brewery Central Analytical Laboratory
East Pacific Star Bottlers Phils. - Cauayan
Plant
Polo Brewery
Distileria Bago, Inc.
Magnolia Plant - Cavite
93Packaging

ISO 22301:2019 Business Continuity
Management Systems
ISO 45001:2018
Occupational Health & Safety
Management System

Magnolia Poultry Products Plant – Davaodel Sur
Magnolia Poultry Products Plant – Leyte
Purefoods-Hormel Cavite Plant 1 & 2
Ready-to-Eat Plant - Sta. Rosa, Laguna
San Miguel Mills, Inc. - Mabini Plant
San Miguel Mills, Inc. - Tabangao Plant
Poultry Bataan (tolled)
Poultry Isabela (tolled)
Poultry La Union (tolled)
Poultry Lucena (tolled)
PureBev International Corp. (tolled)
Can Asia, Inc.
Cebu Glass Plant
Manila Glass Plant
Metal Closure & Lithography Plant Cebu
Metal Closure & Lithography Plant San
Fernando
Rightpak Plant
San Fernando Beverage Packaging Plant
San Miguel Yamamura Glass Plant

SMGP

Malita Power Plant

GSMI
PetronGSMI Mandaue Plant
Petron Bataan Refinery
Amlan Terminal
Bacolod Terminal
Batangas Terminal
Bawing Terminal
Davao Terminal
Iligan Terminal
Iloilo Terminal
Isabel Terminal
Jimenez Terminal
Joint Oil Companies Aviation Fuel Storage
Plant
Legazpi Terminal
Limay Refinery
Mactan Aviation Fuel Storage
Mandaue Terminal
Nasipit Terminal
Navotas Terminal
Ormoc Terminal
Palawan Terminal
Pasacao Terminal
Pasig Terminal
Poro Terminal
Rosario Terminal
Roxas City Terminal
San Fernando Terminal
Subic Blending Plant
Tacloban Terminal
Tagoloan Terminal
Zamboanga Terminal
94

SMGP

SMCSL

Malita Power Plant
Masinloc Power Plant
Manila Toll Expressway Systems, Inc.
Skyway Operations & Maintenance Corp.
Eagle Bulacan Plant
NCC Pangasinan Plant
Harbor Center

SMGP

Malita Power Plant

PetronBacolod Terminal
Batangas Terminal
Bawing Terminal
Davao Terminal
Iligan Terminal
Mactan Aviation Fuel Storage
Mandaue Terminal
Ormoc Terminal
Palawan Terminal
Rosario Terminal
Roxas City Terminal
Tagoloan Terminal
Zamboanga Terminal

Packaging

Mindanao Corrugated Fibreboard, Inc.

SMB

Bacolod Brewery
Davao Brewery
Mandaue Brewery
Polo Brewery
San Fernando Brewery
Sta. Rosa Brewery
Tagoloan Brewery
Distileria Bago, Inc.
Magnolia Plant Cavite
Magnolia Ice Cream Plant
Magnolia Poultry Products Plant – Leyte
Purefoods-Hormel Cavite Plant 1 & 2
Ready-to-Eat Plant - Sta. Rosa, Laguna
San Miguel Mills, Inc. - Mabini Plant
San Miguel Mills, Inc. - Tabangao Plant
Icy Point Cold Storage & Processing Corp.
(tolled)PureBev International Corp. (tolled)
Poultry Bataan (tolled)
Poultry La Union (tolled)
Poultry Lucena (tolled)
Poultry Nueva Ecija (tolled)
Poultry Pampanga (tolled)
Poultry Rizal (tolled)
Poultry Tarlac (tolled)
Poultry Bacolod (tolled)
Poultry Butuan (tolled)
Poultry El Salvador (tolled)

SMHC
CementISO 55001:2014
Asset Management System
ISPS CODE
International Ship & Port Facility
Security CodeFSC-STD-40-004 V3-0
Forest Stewardship Council
Chain of Custody Certification
HACCP
Hazard Analysis Critical Control
Points

GSMI
Food

95

GMP
Standards for Good Manufacturing
Practices

SMB

GSMI
Food

GSMI
Food
HALAL

Packaging

Poultry Iloilo (tolled)
Poultry Tagoloan (tolled)
Bacolod Brewery
Davao Brewery
Mandaue Brewery
Polo Brewery
San Fernando Brewery
Sta. Rosa Brewery
Tagoloan Brewery
Distileria Bago, Inc.
Magnolia Plant Cavite
Magnolia Ice Cream Plant
Magnolia Poultry Products Plant Camarines Sur
Magnolia Poultry Products Plant - Cebu
Magnolia Poultry Products Plant - Davaodel Sur
Magnolia Poultry Products Plant - Leyte
Purefoods-Hormel Cavite Plant 1 & 2
Purefoods-Hormel Cavite Plant 3
Ready-to-Eat Plant Sta. Rosa, Laguna
San Miguel Mills, Inc. Mabini Plant
San Miguel Mills, Inc. Tabangao Plant
Icy Point Cold Storage and Processing Corp.
(tolled)PureBev International Corp. (tolled)
Poultry La Union (tolled)
Poultry Tarlac (tolled)
Poultry Bacolod (tolled)
Poultry Butuan (tolled)
Poultry Dumaguete (tolled)
Poultry Iloilo (tolled)
Poultry Lucena (tolled)
Poultry Palawan (tolled)
Poultry Rizal (tolled)
Poultry Tagoloan (tolled)
Distileria Bago, Inc.
Magnolia Ice Cream Plant
Icy Point Cold Storage and Processing Corp.
(tolled)
Metal Closure & Lithography Plant – San
Fernando
Mindanao Corrugated Fibreboard, Inc.
Rightpak Plant

96

6.7 List of Abbreviations
Abbreviation
ACGS
ASEAN
BAI
BankCom
BCM
BESS
BPO
BU
CBA
CBEX
CCR
CEDAR
CeMAP
CEMS
CEO
CFB
CHR
CIS
CO2
COP
COP28
CRO
CSR
CSU
CTSG
DA
DENR
DOH
DOLE
DPA
DPAAT
DPO
DPS
DPSO
ECC
EPR
ERC
ERM
ESG
FDA
FGRS
GDP
GHG
GRI
GSM
GSMI
HELE
IEA
ILO
IMS

Meaning
ASEAN Corporate Governance Scorecard
Association of Southeast Asian Nations
Bureau of Animal Industry
Bank of Commerce
Business Continuity Management
Battery Energy Storage Systems
Business Process Outsourcing
Business Unit
Collective Bargaining Agreement
Cavite-Batangas Expressway
Coal Combustion Residuals
Center for Ecological Development and Recreation
Cement Manufacturers Association of the Philippines
Continuous Emissions Monitoring System
Chief Executive Officer
Circulating Fluidized Bed
Corporate Human Resources
Center for Internet Security
Carbon Dioxide
Compliance Officer for Privacy
28th UN Conference of the Parties
Chief Risk Officer
Corporate Social Responsibility
Corporate Service Unit
Corporate Technical Services Group
Department of Agriculture
Department of Natural Resources
Department of Health
Department of Labor and Employment
Data Privacy Act
Data Privacy Act Awareness Training
Data Protection Officer
Data Processing System
Data Privacy and Security OfficeEagle Cement Corporation
Extended Producer Responsibility
Energy Regulatory Commission
Enterprise Risk Management
Environmental, Social, and GovernanceFood and Drug Administration
Flare Gas Recovery System
Gross Domestic ProductGreenhouse Gases
Global Reporting Initiative
Ginebra San Miguel
Ginebra San Miguel Inc.
High Efficiency, Low Emissions
International Energy Agency
International Labor Organization
Integrated Management Systems
97

IP
ISMS
ISO
IT
IUCN
LED
LGU
LNG
LPG
MTPA
MWSS
NAB
NAIAx
NALEX
NBEX
NCC
NDC
NGP
NIST
NMIA
NMIS
NOLO
NOx
NPC
OSH
PAGASA
PARMS
PBR
PCX
PDEX
PET
PGG
PHC
PIA
PPP
PRO
PSE
RE
RO-UF
SALEX
SASB
SCII
SEC
SLEX
SMB
SMC
SMCSL
SMEII
SMF
SMFB
SMFI
SMGA
SMGP

Indigenous Peoples
Information Security Management System
International Organization for Standardization
Information Technology
International Union for Conservation of NatureLight Emitting Diode
Local Government Unit
Liquefied Natural Gas
Liquefied Petroleum Gas
Million tons per annum
Metropolitan Waterworks and Sewerage System
Non-Alcoholic Beverages
NAIA Expressway
Northern Access Link Expressway
Nasugbu-Bauan Expressway
Northern Cement Corporation
Nationally Determined Contribution
National Greening Program
National Institute of Standards and Technology
Manila International Airport
National Meat Inspection Commission
No and Low
Nitrogen Oxide
National Privacy Commission
Occupational Safety and HealthPhilippine Atmospheric, Geophysical, and Astronomical Services Administration
Philippine Alliance for Resource and Materials Sustainability
Petron Bataan Refinery
Plastic Credit Exchange
Philippine Dealing & Exchange Corp.
Polyethylene terephthalate
Procurement Governance Group
The Purefoods-Hormel Corporation, Inc.
Privacy Impact Assessment
Public-Private Partnership
Producer Responsibility Organization
Philippine Stock Exchange
Renewable Energy
Reverse Osmosis Ultrafiltration
Southern Access Link Expressway
Sustainability Accounting Standards Board
Southern Concrete Industries, Inc.
Securities and Exchange Commission
South Luzon Expressway
San Miguel Brewery, Inc.
San Miguel Corporation
SMC Shipping and Lighterage Inc.
San Miguel Equity Investment Inc.
San Miguel Foods
San Miguel Food and Beverage Inc
San Miguel Foods, Inc.
San Miguel Group Audit
San Miguel Global Power Holdings Corp.
98

SMHC
SMILSI
SMITS
SMMI
SMPI
SMYGP
SMYPC
SOC
SOx
SPPC
STAR
TCFD
TESDA
TPLEX
TWG
UN
UN SDGs
VAPT
VFD
WBC
WWTF

San Miguel Holdings Corporation
San Miguel Integrated Logistics Services, Inc.
San Miguel Information Technology Services, Inc.
San Miguel Mills, Inc.
San Miguel Properties Inc.
San Miguel Yamamura Glass Plant
San Miguel Yamamura Packaging Corporation
Security Operations Center
Sulfur Oxides
South Premiere Power Corporation
Southern Tagalog Arterial Road
Task Force for Carbon Related Disclosure
Technical Education and Skills Development Authority
Tarlac-Pangasinan-La Union Expressway
Technical Working Group
United Nations
United Nations Sustainable Development Goals
Vulnerability Assessment and Penetration Testing
Variable Frequency Drive
Whistleblowing Committee
Waste Water Treatment Facility

6.8 List of Measurements
Measurement
%
B
BTU
GJ
GT
HA
KG
kWh
kWp
M2
M3
ML
Mn
MT
MTPA
MTPY
MT CO2e
MW
MWh
No.
PhP

Meaning
Percent
BillionBritish Thermal Unit
Gigajoule
GigatonHectares
Kilograms
Kilowatt-Hour
Kilowatt Peak
Square Meters
Cubic Meter
Million Liters
MillionMetric Ton
Million Ton Per Annum
Metric Ton Per Year
Metric Ton of Carbon Dioxide Equivalent
Megawatt
Megawatt-Hour
NumberPhilippine Peso99

6.9 List of Filipino Word Translations
Filipino Word
English Translation
Ambisyon Natin 2040 Ambisyon Natin 2040, translated in English as "Our Ambition 2040",
represents the collective vision and aspirations of the Philippines, targeting asignificant transformation by the year 2040 to establish a prosperous,
inclusive society where poverty is eradicated, and all citizens enjoy highquality, healthy, and fulfilling lives. It articulates the country's strategic
direction towards sustainable development, emphasizing innovation,
environmental stewardship, and social cohesion to ensure a resilient andequitable future for all Filipinos.
Barangay
The smallest administrative division in the Philippines, which is a common unitof engagement for community initiatives and programs.
Bayanihan
Bayanihan is a traditional Filipino concept that exemplifies the spirit ofcommunal unity, cooperation, and support to achieve a common goal. It
highlights the cultural value of helping one another, often manifested throughcollective efforts such as moving a neighbor's house or coming together forcommunity projects, underscoring the deep-rooted sense of community andsolidarity among Filipinos.
Brigada Eskwela
The term "Brigada Eskwela," translated in English as "School Brigade," is anationwide initiative in the Philippines promoting volunteerism and collective
community action to prepare public elementary and high schools for theupcoming school year. It is a collaborative effort where teachers, parents,
students, and various community members clean, repair, and beautify
schools, including tasks like painting, fixing furniture, and landscaping.
Additionally, the initiative emphasizes the importance of readiness for
emergencies by assembling emergency kits and conducting safety drills,
showcasing the Filipino community's dedication to providing a secure andnurturing learning environment for children.
Kalikasan
The Filipino word "kalikasan" refers to nature or Mother Earth. It is a termthat is deeply ingrained in Filipino culture, as our country is known for its
diverse and rich natural resources, including its forests, mountains, andbodies of water. It highlights the importance of preserving and protecting
the natural world for future generations. It is a word that evokes a sense of
awe and appreciation for the beauty and complexity of the natural world, as
well as a sense of responsibility to protect it.
Kalinga
The Filipino word "kalinga" is a word that connotes care or compassion forpeople, particularly for those who are vulnerable or in need. The concept ofkalinga embodies the Filipino value of "bayanihan" or collective effort, whichis the Filipino tradition of community and mutual support, especially in timesof challenges. Kalinga also means protecting or guarding, especially keeping
someone safe from harm or danger.
Kasaganahan
The Filipino word "kasaganahan" refers to abundance, prosperity, or plenty.
It is a word that conveys a sense of great prosperity, whether in terms ofresources or opportunities. Kasaganahan is a word that is often used todescribe the potential for growth and development in the Philippines. The
word further embodies the Filipino value of optimism and resilience, as itsuggests a belief in the abundance of opportunities and resources available
to those who work hard and persevere in life. Overall, kasaganahancelebrates the abundance and richness of life and encourages people to begenerous and giving towards others.
Maginhawa
Maginhawa is a Filipino word that describes a state of ease or prosperity,referring to a comfortable and contented way of life. It embodies theaspiration for a life free from hardship, where one's needs and desires are
fulfilled, contributing to an overall sense of well-being and satisfaction.

100

Malasakit

Malasakit is a Filipino term that embodies the concepts of empathy,
compassion, and genuine concern for others. It reflects a deep sense of caring
and a commitment to go above and beyond in helping and understanding theneeds of the community, colleagues, and individuals, driving actions aimed attheir welfare and well-being.

MatatagMatatag conveys the qualities of strength, stability, and resilience. It
embodies the ability to endure challenges with courage and remain steadfast
and unyielding in the face of adversity.
"Panatag na Buhay" is "a peaceful and secure life" in English, where one has
a state of tranquility, stability, and security. It reflects the aspiration ofindividuals to feel safe, content, and confident about their future and wellbeing.

Panatag na Buhay

6.10 Materiality IndicesA. GRI Content Index
Disclosure
GRI 2: General Disclosures 2021
2-1
Organization detail
2-2
Entities included in the organization’s sustainability reporting
2-3
Reporting period, frequency and contact point
2-4
Restatement of information
2-5
External assurance
2-6
Activities, value chain and other business relationship2-7
Employees
2-8Workers who are not employees
2-9
Governance structure and composition

2-10

Nomination and selection of the highest governance
body

2-11

Chair of the highest governance body

Page no.
7 – 14
3, 75
3–4
4
21
7 – 1352 – 53, 82
52 – 53, 82
22 – 23; The composition of
the highest governance body isdisclosed in the SMC
Integrated Annual Corporate
Governance Report, which canbe found on the Company
website athttps://www.sanmiguel.com.ph/disclosures/annualcorporate-governance-reportacgr
22 – 23; The nomination andselection of the highest
governance body are disclosed
in the SMC Integrated Annual
Corporate Governance Report,
which can be found on the
Company website athttps://www.sanmiguel.com.ph/disclosures/annualcorporate-governance-reportacgr
22 – 23; The chair of thehighest governance body isdisclosed in the SMC
Integrated Annual Corporate
Governance Report, which canbe found on the Company
website athttps://www.sanmiguel.com.p
101

2-12
2-13
2-14
2-15
2-16
2-17

2-18

2-19

2-20

2-21

2-22
2-23

h/disclosures/annualcorporate-governance-reportacgr
15 – 19, 22 – 23, 25, 50

Role of the highest governance body in overseeing themanagement of impacts
Delegation of responsibility for managing impacts
22 – 23
Role of the highest governance body in sustainability re- 22 – 23
porting
Conflicts of interest
68 – 69
Communication of critical concerns
15 – 19, 53, 68 – 69
Collective knowledge of the highest governance body24, 58; The profiles of the
Directors are disclosed in the
SMC Integrated Annual
Corporate Governance Report,
which can be found on the
Company website athttps://www.sanmiguel.com.ph/disclosures/annual-corporategovernance-report-acgr
Evaluation of the performance of the highest governance Evaluation of the performancebodyof the highest governance bodyis disclosed in the SMC
Integrated Annual Corporate
Governance Report, which canbe found on the Company
website athttps://www.sanmiguel.com.ph/disclosures/annual-corporategovernance-report-acgr
Remuneration policies
Remuneration policies for thehighest governance body andofficers are disclosed in the
SMC Integrated Annual
Corporate Governance Report,
which can be found on the
Company website athttps://www.sanmiguel.com.ph/disclosures/annual-corporategovernance-report-acgr
Process to determine remuneration
Process to determine
remuneration is disclosed in the
SMC Integrated Annual
Corporate Governance Report,
which can be found on the
Company website athttps://www.sanmiguel.com.ph/disclosures/annual-corporategovernance-report-acgr
Annual total compensation ratio
SMC regards the salaries ofindividual employees as highly
confidential data. Thus, SMC
cannot disclose this informationor any related details in the
Sustainability ReportStatement on sustainable development strategy
5 – 6, 13 – 14, 25 – 35
Policy commitments
53, 60 – 61, 68 – 69, 70 – 73, 83,
87; SMC’s policy commitments
102

2-24

Embedding policy commitments

2-25
Processes to remediate negative impacts
2-26
Mechanisms for seeking advice and raising concerns
2-27Compliance with laws and regulations
2-28
Membership associations
2-29
Approach to stakeholder engagement
2-30
Collective bargaining agreements
GRI 3: Material Topics 2021
3-1
Process to determine material topics
3-2
List of material topics
3-3Management of material topics
GRI 201: Economic Performance 2016
201-1
Direct economic value generated and distributed
Financial implications and other risks and opportunities
201-2
due to climate change
201-3
Defined benefit plan obligations and other retirement
plans

201-4

Financial assistance received from government

GRI 203: Indirect Economic Impacts 2016
203-1
Infrastructure investments and services supported
203-2
Significant indirect economic impacts
GRI 204: Procurement Practices 2016
204-1
Proportion of spending on local suppliers
GRI 205: Anti-corruption 2016
205-1
Operations assessed for risks related to corruption
Communication and training about anti-corruption
205-2
policies and procedures
205-3
Confirmed incidents of corruption and action taken
GRI 206: Anti-competitive Behavior 2016
Legal actions for anti-competitive behavior, anti-trust,206-1
and monopoly practices

are publicly available and canbe accessed on the Company’s
website athttps://www.sanmiguel.com.ph/page/company-policy
53, 60 – 61, 68 – 69, 70 – 73, 83,
87; SMC’s policy commitments
are publicly available and canbe accessed on the Company’s
website athttps://www.sanmiguel.com.ph/page/company-policy
15 – 19, 68 – 69
15 – 19, 68 – 69
78, 82, 85, 87
91
15 – 1953, 83
3 – 4, 20
20 – 21, 88 – 89
36 – 73
24, 7650 – 51
This information is disclosed in
the SMC FY 2023 17-A, which
can be found on the
Company’s website athttps://www.sanmiguel.com.ph/disclosures/17-a
This information is disclosed in
the SMC FY 2023 17-A, which
can be found on the
Company’s website athttps://www.sanmiguel.com.ph/disclosures/17-a
5 – 6, 7 – 13, 24, 64 – 66, 70 –72
5 – 6, 7 – 13, 64 – 68, 70 – 72
67 – 68, 86 – 87
68 – 70
68 – 69, 87
68 – 69
No legal proceedings on anticompetitive behavior or
breaches of anti-trust andmonopoly law were brought
against SMC in the reporting
103

year
GRI 207: Tax 2019
207-1
Approach to tax

207-2

Tax governance, control, and risk management

207-3

Stakeholder engagement and management of concerns
related to tax

207-4

Country-by-country reporting

GRI 301: Materials 2016
301-1
Materials used by weight or volume301-2
Recycled input materials used
GRI 302: Energy 2016
302-1
Energy consumption within the organization
302-2
Energy consumption outside the organization
302-3
Energy intensity
302-4
Reduction of energy consumption
GRI 303: Water and Effluents 2018
303-1
Interaction with water as a shared resource
303-2
Management of water discharge-related impacts
303-3
Water withdrawal
303-4
Water discharge
303-5
Water consumption
GRI 304: Biodiversity 2016
Operational sites owned, leased, managed in, or
304-1
adjacent to, protected areas and areas of highbiodiversity value outside protected areas
Significant impacts of activities, products, and services
304-2
on biodiversity
304-3
Habitats protected or restored
IUCN Red List species and national conservation list
304-4
species with habitats in areas affected by operations
GRI 305: Emissions 2016
305-1
Direct (Scope 1) GHG emissions
305-2
Indirect (Scope 2) GHG emissions
305-3
Other indirect (Scope 3) GHG emissions
305-4
GHG emission intensity
305-5
Reduction in GHG emissions
305-6
Emission of Ozone Depleting Substance (ODS)

This information is disclosed in
the SMC FY 2023 17-A, which
can be found on the
Company’s website athttps://www.sanmiguel.com.ph/disclosures/17-a
This information is disclosed in
the SMC FY 2023 17-A, which
can be found on the
Company’s website athttps://www.sanmiguel.com.ph/disclosures/17-a
This information is disclosed
in the SMC FY 2023 17-A,
which can be found on the
Company’s website athttps://www.sanmiguel.com.
ph/disclosures/17-a
This information is disclosed in
the SMC FY 2023 17-A, which
can be found on the
Company’s website athttps://www.sanmiguel.com.ph/disclosures/17-a
45 – 46, 78
45 – 46, 78
41 – 44, 77
39
41 – 44, 77
41 – 44, 77
44 – 45, 77 – 78
44 – 45, 78
44 – 45, 78
44 – 45, 78
44 – 45, 77 – 78
48, 8148 – 49
48 – 49, 81
48, 817676
39
36 – 38, 76
36 – 38, 76
40, 76 – 77104

Nitrogen oxides (NOx), sulfur oxides (SOx), and othersignificant air emissions
GRI 306: Waste 2020
306-1
Waste generation and significant waste-related impact
306-2
Management of significant waste-related impacts
306-3
Waste generated
306-4
Waste diverted from landfill
306-5
Waste directed to landfill
GRI 401: Employment 2016
401-1
New employee hires and employee turnover
401-3
Parental leave
GRI 403: Occupational Health and Safety 2016
403-1
Occupational health and safety management system403-2
Hazard identification, risk assessment and incident
investigation
403-3
Occupational health services
Worker participation, consultation and communication
403-4
on occupational health and safety
403-5
Worker training on occupational health and safety
403-6
Promotion of worker health403-7
Worker training on occupational health and safety
Workers covered by an occupational health and safety
403-8
management system
403-9Work-related injuries
403-10Work-related ill health
GRI 404: Training and Education 2016
404-1
Average hours of training per year per employee
Programs for upgrading employee skills and transition
404-2
assistance programs
Percentage of employees receiving regular performance404-3
and career development reviews
GRI 405: Diversity and Equal Opportunity 2016405-1
Diversity of governance bodies and employees
GRI 406: Non-discrimination 2016406-1
Incidents of discrimination and corrective actions taken
GRI 408: Child Labor 2016
Operations and suppliers at significant risk for incidents
408-1
of child labor
GRI 410: Security Practices 2016
410-1
Security personnel trained in human rights policies orprocedures
GRI 411: Rights of Indigenous People 2016
411-1
Incidents of violations involving rights of Indigenous
peoples
GRI 413: Local Communities 2016
Operations with local community engagement, impact
413-1
assessments and development programs
Operations with significant actual and potential negative
413-2
impacts on local communities
305-7

40, 76 – 77

46 – 48, 78 – 81
46 – 48, 78 – 81
46 – 48, 78 – 81
46 – 48, 78 – 81
46 – 48, 78 – 81
52 – 5384
54 – 55, 84
54 – 55
55 – 57
55 – 57
54 – 55
55 – 57
54 – 55
54, 8
84
84
57, 82 – 83
57 – 59
59 – 60, 83

60 – 61, 82
60 – 6153, 67 – 68

83

17 – 18

17 – 18, 64 – 66, 85 – 86
17 – 18, 64 – 66, 85 – 86

GRI 416: Customer Health and Safety 2016
Assessment of the health and safety impacts of product 61 – 64
416-1
and service categories
105

Incidents of non-compliance concerning the health andsafety impacts of products and services
GRI 417: Marketing and Labelling 2016
417-1
Requirements for product and service information andlabeling
Incidents of non-compliance concerning product and417-2
service information and labeling
417-3
Incidents of non-compliance concerning marketing
communications
GRI 418: Customer Privacy 2018
Substantiated complaints concerning breaches of
418-1
customer privacy and losses of customer data
416-2

85

61 – 6485
85

72 – 73, 87

B. SASB Index
Disclosure
Greenhouse Gas Emissions
Gross global Scope 1 emissions, percentage covered underemissions-limiting regulations
Discussion of long-term and short-term strategy or plan to manage
Scope 1 emissions, emissions reduction targets, and an analysis ofperformance against those targets
Air Quality
Air emissions of the following pollutants: (1) NOx (excluding N2O),(2) SOx, (3) particulate matter (PM10), (4) H2S, and (5) volatileorganic compounds (VOCs)
Energy Management(1) Total energy consumed, (2) percentage grid electricity, (3)percentage renewable, (4) total self-generated energy
Water Management(1) Total water withdrawn, (2) total water consumed, percentage
of each in regions with High or Extremely High Baseline Water
StressDescription of water management risks and discussion of strategies
and practices to mitigate those risks
Number of incidents of non-compliance associated with water
quality permits, standards, and regulations
Waste Management
Amount of hazardous waste generated; percentage recycled
Workforce Health & Safety(1) Total recordable incident rate (TRIR), (2) fatality rate, and (3)near miss frequency rate (NMFR) for (a) full-time employees and (b)contract employees
Discussion of management systems used to integrate a culture of
SafetyPackaging Lifecycle Management(1) Total weight of packaging, (2) percentage made from recycled
and/or renewable materials, and (3) percentage that is recyclable,
reusable, and/or compostable
Discussion of strategies to reduce the environmental impact of
packaging throughout its lifecycle

Page no.
76
29, 32, 36 – 38

40, 76 – 77

41 – 44, 77

44 – 45, 77 – 78

44 – 4578

47 – 48, 80 – 81
84

54 – 57

45 – 78

45 – 78106

Disclosure
SASB: Containers and Packaging Standard 2018
RT-CP-250a.1 Number of recalls issued; total units recalled
RT-CP-250a.2 Discussion of process to identify and manage
emerging materials and chemicals of concern
RT-CP-250a.3 Food safety violation

Page no.

Disclosure
SASB: Containers and Packaging Standard 2018
Responsible Drinking & Marketing
FB-AB-270a.2 Number of incidents of non-compliance withindustry or regulatory labeling and/or marketing
codes
FB-AB-270a.3 Total amount of monetary losses as a result of legal
proceedings associated with marketing and/orlabeling practices

Page no.

Disclosure
SASB: Processed Foods 2018
Food Safety
FB-PF-250a.3 (1) Total number of notices of food safety violation
received, (2) percentage corrected
FB-PF-250a.4 (1) Number of recalls issued and (2) total amount offood product recalled
Health & Nutrition
FB-PF-260a.2 Discussion of the process to identify and manage
products and ingredients related to nutritional andhealth concerns among consumers
Product Labelling & Marketing
FB-PF-270a.3 Number of incidents of non-compliance withindustry or regulatory labeling and/or marketing
codes
FB-PF-270a.4 Total amount of monetary losses as a result of legal
proceedings associated with labeling and/or
marketing practices

Page no.

85
61 – 64
85

85

85

85
85

61 – 648585107