# OF STORES IN THE PHILIPPINES 2019 GEOGRAPHIC BREAKDOWN OF STORES

Shakey’s Pizza Asia (PSE: PIZZA)

46%NCR

40%Luzon ex-NCR

10%Visayas

4%Mindanao2016 2017 2018 2019

184209

230

279

+49+24 +20

#1 Full-Service Restaurant #3 Overall Restaurant Brand

Source: Euromonitor, Nielsenfor the Philippines

Metro Manila

46%Luzon(ex-MM)40%

Visayas10%

Mindanao4%Company-

Owned52%Franchised

48%

2

SNAPSHOT• Shakey’s Pizza Asia Ventures, Inc. is one of the leading operators of fast casual restaurants in

the Philippines, focused on family casual dining.

• The Shakey’s brand is the Philippines’ #1 full-service pizza chain with over 65% market share inthat category. It is also the single-largest brand of full-service casual dining chain restaurants inthe Philippines.* It is a strong and well-established brand thanks to a differentiated menu, iconicand well-loved products, a distinct store environment, and highly guest-centric service.

• The Peri brand is an emerging fast casual and full-service restaurant chain in the Philippines. Itsmainstay is charcoal-grilled chicken, marinated for 24 hours, served with an assortment ofunique sauces to choose from.

• Vision: To be the preferred and dominant family casual dining restaurant in the Philippines, andsuccessful in our chosen overseas markets, serving pizza as our core product.

• Store Network: 270+ Shakey’s and Peri stores across the Philippines – a mix of company-ownedand franchised. Different store formats including those located in malls and those that are free-standing.

• Key Management: Vicente L. Gregorio - President & CEO, Manuel T. del Barrio - Vice President &CFO, Jorge Q. Concepcion - Shakey’s General Manager, Marielle C. Santos – Peri GeneralManager, Alois Brielbeck - In-House Commissary General Manager

*Source: Euromonitor, 2019

Revenues (In USD Mill)

120 140 152 165 157

2016* 2017 2018 2019* 2020F**

13 15 17 18 14

2016* 2017 2018 2019* 2020F**

*Based on recurring figures**Consensus of active brokers

Net Income (In USD Mill)

Century Pacific Group54%

GIC Private Equity18%

Public28%

Dine-In61%

Delivery & Carry-Out

37%

Others2%

FULL-YEAR FINANCIALS

2019 SYSTEM-WIDE SALES & STORE NETWORK BREAKDOWN OWNERSHIP STRUCTURE

Company Overview

3

Shakey’s has 45 years of strong brand legacy and counting1954First Shakey’s Pizza Parlor opened in Sacramento, California

1975First store in the Philippines

1987The Prieto family became the master franchisor in the Philippines

1999Acquired Shakey’strademark for the Philippines in perpetuity

2003Positioned as an American fast casual dining restaurant for families

2014Acquired Shakey’s trademark for Middle East, Asia (ex Japan, Malaysia) including China, Australia, and New Zealand in perpetuity

2016Century Pacific Group (CPGI) and Arran (GIC) acquired control and took the Company public

2019Acquired Peri-Peri Charcoal Chicken and Sauce Bar, 276 stores by end 2019

INVESTMENT HIGHLIGHTS

Industry-Leading Financials

Experienced Management

Investment Highlights

• Multiple sales channels and store formats; simple operations• Low upfront cost and strong cash generation lead to shorter store-level

payback periods compared to the industry

• Extensive track records in food and restaurant operations• Entry of Century Pacific Group as strong and committed shareholders provides

synergies with other food businesses

• Well-loved brand with more than 40 years of history in the Philippines• Iconic products served in a distinct store environment• No royalty payments, plus additional revenues from franchisings

• Superior profitability and margins versus peers• Manageable gearing ratios despite higher interest-bearing debt

Market Leadership

Brand Strength& Ownership

ScalableBusiness Model

• Dominates the full-service pizza chain market with 67%* market share• 23%* market share in the full-service (pizza and non-pizza) category - #1 in that

space as well

*Source: Euromonitor, 2019 5

5

4

2

3

1

6

1 #1 Full-Service Restaurantin the PhilippinesThe full-service pizza chain market is dominated by Shakey’s.

Max's18.0%

Pizza Hut9.4%Kenny Rogers

6.1%

Pancake House4.4%

Classic Savory3.3%

Others35.4%

23.4%

Latest Euromonitor report states that Shakey’s leads the Philippine chained full-service restaurant industry with

23.4% market share as of 2019.

Pizza Hut27.1%

Papa John's1.4%

Others4.2%

67.3%

2019 data shows that Shakey’sdominates the full-service

pizza chain market by sales since 2011 until present.

FULL-SERVICE CHAIN FULL-SERVICE PIZZA CHAIN

Source: Euromonitor

7

DIFFERENTIATED MENU WITH ICONIC PRODUCTS AND OFFERINGS FOR ALL

PizzaWorld-famous thin crust and hand-tossed pizzas with many different choices

Chicken and MojosSignature dish - fried chicken paired with Shakey’s famous mojos*

*Thinly-sliced potatoes coated with Shakey’s breading and fried to a golden brown perfection

PastaHearty pasta with a wide range of sauces and toppings paired with garlic bread

StartersRanging from fries, mojos, squid rings, chips, and chicken

SoupHome-style soups loaded with flavor and goodness

SaladExtensive choice of salad for health-conscious customers

DessertsWide range of after-meal desserts

BUNDLED OFFERINGS CATERING TO FAMILIES AND GROUPS BRING UP AVERAGE CHECKS

2 Strong andWell-Established BrandShakey’s offers a differentiated menu with iconic and well-loved products.

8

Though originally from the U.S., PIZZA has owned the Shakey’s brand

for the Philippines since 1999.

Source: Asia’s Top 1000 Brands Survey by Campaign Asia, in partnership with Nielsen

BRAND OWNERSHIP• No royalty payments, leading to

shorter payback period and sustainably higher margins versus peers

• Revenue from licensing fees and royalties from franchisees

• Freedom to execute and react faster to market changes

• Opportunity for expansion into international markets

2018 PHILIPPINE TOP 100 RESTAURANT BRANDS

2 Strong andWell-Established BrandShakey’s offers a beautiful and distinct store environment to every customer and has full control and ownership of its brand.

With its over 40 year history in the Philippines, Shakey’s is one of the most recognizable brands in the local food service industry.

321

9

Dine-In• Most popular sales channel due to

unique family and friends experience• Aim to “WOW” the guest

Delivery• Delivery available nationwide• Single delivery hotline number

(#77-777) can be used

Carry-Out• Convenient and fast method of sales

Functions• Free-standing stores have function

rooms for events such as parties and company gatherings

Online Sales• Active online and mobile presence

with own website and mobile app• http://www.shakeyspizza.ph

SuperCard+• A very popular paid loyalty card• PHP499 annual fee

Mall Stores120 – 250 sqm

54%Free-Standing Stores

300 – 400 sqm

40%Others (Outside Malls)

120 – 180 sqm

6%

3 Proven and ScalableBusiness ModelMultiple sales channels and store formats provide convenience and accessibility to Shakey’s customers and allow for market and expansion flexibility.

10

Firmly positioned in the fast casual segment (A, B, and upper C market) that delivers high

margins, good volumes, and scale

Benefitting from key consumer trends –eating out more and upgrading from fast

food to casual dining

Own commissary for proprietary raw materials protects key supply chain

and maintains consistency and control over quality

Economies of scale and purchasing synergy

Long-term leases for store locations at attractive rentals

Presence of standalone stores (i.e. those outside malls) lead to low rent-

to-sales ratio

Business model and strong discipline leads to typical payback

period of 3-4 years

Low upfront cost and strong cash generation per store

3 Proven and ScalableBusiness ModelShakey’s is a well-established brand, while operating on an asset-light model.

Brand Positioning Vertical Integration

Asset-Light Approach Short Payback Period

11

4 Experienced Management TeamVISION: to be the PREFERRED and DOMINANT family casual dining restaurant

Highly experienced professionals in their

respective areas of expertise; governance

mantra of recruiting the best home-grown or

external talent

Members

Committees*

• Audit Committee

• Board Risk Oversight Committee

• Corporate Governance & Sustainability Committee

• Related Party Transactions Committee*All chaired by an Independent Director

BOARD COMPOSITION

9

4

• Over 30 years of successful experience in the food business; proven management and leadership track record in foodservice retail set-up, expansion, and turnaround management

• Started career in the first ever Shakey’s branch in the Philippines; key driver of Shakey’s brand strategy, organization culture, core values, and mission since 2003

VICENTE GREGORIO

President & CEO

MANUEL DEL BARRIO

VP & CFO

• Previously Assistant Vice President for Finance of Century Pacific Food, Inc. (CNPF) and The Pacific Meat Company, Inc.

• Worked in accounting positions at several leading companies

JORGE CONCEPCION

GM – Shakey’s

• Over 30 years of experience in consumer-related business

• Significant experience in the U.S. foodservice industry for about 10 years in numerous managerial positions

ALOIS BRIELBECKGM – In-House

Commissary

• Over 30 years of experience in the foodservice business

• Moved to Asia in 1986, taking up positions in pastry kitchens in Hong Kong and Tokyo

• Moved to the Philippines in 2000 as Chief Operating Officer for Culinary Systems Specialists Incorporated

• Appointed as Commissary General Manager in 2005

MARIELLE SANTOSGM - Peri

• Over 20 years of experience in the food service industry• Previously held several leadership roles at Shakey’s with

a proven track record, handling human resources, guest engagement, and the delivery business

15.5% 13.9% 12.2%20.7%

11.8% 9.8% 9.8%14.8%

2016* 2017 2018 2019*

PIZZA Industry Average**

8.6%2.9% 6.4%

15.6%

5.2% 1.7% 4.2%8.6%

2016* 2017 2018 2019*

PIZZA Industry Average**

20.0% 20.8% 19.7% 18.8%16.8% 16.8% 16.0% 14.7%

2016* 2017 2018 2019*

PIZZA Industry Average**

11.1% 10.9% 11.1% 11.2%7.1% 6.9% 6.8% 6.6%

2016* 2017 2018 2019*

Net Margin

PIZZA Industry Average**

12

5 Industry-Leading ProfitabilityShakey’s generates superior margins versus peers.

MARGINS

*Based on recurring figures**Composed of publicly listed Philippine foodservice restaurant companies

19.7% 20.1% 19.8% 20.5%14.3% 13.3% 13.9% 15.8%

2016* 2017 2018 2019*

EBITDA Margin

PIZZA Industry Average**

RETURN ON EQUITY

FREE CASH FLOW TO SALES

OPERATING CASH FLOW TO SALES