Investors Presentation January 2016

EMPERADOR INC. First Quarter 2016 Results Briefing

May 13, 2016

Our Financials

Industry Performance

Recent Developments

1

2

3

1Q16 Financial Highlights

PHP9b Consolidated

Revenues

Net Income Margin 16%

PHP1.4b Consolidated Net Income

Consolidated Revenue Growth 1%

Revenue Breakdown

Our Financials

3 * Note: Revenue Breakdown chart, WMG – Whyte & Mackay Group; EMP – excludes WMG

25%

75%

WMG EMP

1Q16 Performance Update

Our Financials

4

1Q15 1Q16 YoY Commentary

Revenues (PHPm) 8,895 8,967 1% Some domestic volume growth, price increase, new products; impact of Russian Standard exit

Gross profit (PHPm) 2,752 2,741 -0.4% Blended GPM stable at 31%: 32% for EMP (ex WMG) and 28% for WMG Gross profit margin 31% 31%

EBITDA (PHPm) 2,051 1,989 -0.3% Blended GPM at 22%: 26% for EMP (ex WMG) and 12% for WMG EBITDA margin 23% 22%

Net income (PHPm) 1,401 1,405 0.3% Blended net income margin also stable at 16%: 18% for EMP (ex WMG) and 10% for WMG Net income margin 16% 16%

13,679

2,752 2,741

32%

31% 31%

2015 1Q15 1Q16

Latest Financial Performance

Revenues (PHPm)

Our Financials

5

0.4%

43,645

8,895 8,967

2015 1Q15 1Q16

9,609

2,051 1,989

22% 23% 22%

2015 1Q15 1Q16

6,960

1,401 1,405

16% 16% 16%

2015 1Q15 1Q16

Net income & margin

Gross profit & margin

EBITDA & margin

0.3% 3%

1%

1,669 2,305

5,000 5,831 6,204 6,960

20%

13%

21% 20% 19% 16%

2010 2011 2012 2013 2014 2015

Revenues* (PHPm)

* Consolidated (sale of goods + other revenues); gross profit on sale of goods

Net income & margin

39% CAGR

Our Financials

6

8,456

17,355 23,594

29,865 32,009

43,645

2010 2011 2012 2013 2014 2015

2,345 3,377

7,145 8,323 8,738 9,609

28%

19%

30% 28% 27% 22%

2010 2011 2012 2013 2014 2015

33% CAGR

Financial History

2,817 4,445

8,210 9,225 10,903

13,679

35%

26%

36% 32%

35% 32%

2010 2011 2012 2013 2014 2015

37% CAGR

33% CAGR

EBITDA & margin

Gross profit* & margin

Segment Breakdown

Our Financials

7

In PHP millions Revenues Gross Profit EBITDA Net Income

1Q15 1Q16 1Q15 1Q16 1Q15 1Q16 1Q15 1Q16

EMP (ex WMG) 5,651 6,720 2,170 2,120 1,967 1,723 1,368 1,188

WMG 3,243 2,247 582 620 84 266 33 217

EMP (consolidated) 8,895 8,967 2,752 2,741 2,051 1,989 1,401 1,405

Robust Capital Position Solid Capital Position

Our Financials

8

(PHPm) Cash Debt Net Debt Net Debt to Equity Commentary

1Q16 18,609 28,841 10,232 20% Use of cash to close Fundador transaction

18,609 23,581 4,971 10%* * Ex Equity-linked security

2015 29,178 29,159 cash na Additional debt to purchase Fundador

29

2

-14

2

19

-20

20

40

Cash beg EBITDA CAPEX & Acquisitions

Change in working capital

Dividend Financing Others Cash end

Cash Position (PHPb)

Our Financials

Industry Performance

Recent Developments 3

2

1

Value Market Share

Industry Performance

10

1Q15 1Q16

* Source: PSE disclosures and EMP estimates

24%

30%

45%

22%

29%

48%

Tanduay

Ginebra San Miguel

Emperador

Our Financials

Industry Performance

Recent Developments

1

2

3

Fundador Closing

March 2016

12

Fundador Closing

March 2016

13

Fundador Closing

March 2016

14

END OF PRESENTATION