Etrffi. EtrM COVER SHEET. Month. Month Day Annual Meeting STAMPS. To be accomplished by SEC Personnel concerned

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1 COVER SHEET P w G L o B E T E L E c o M I N c (Companys Full Name) 5 I F G L o B E T E L E c o M P L A z A P I o N E E R c o R M A D I s o N s T R E E T s M A N D A L u Y o N G c I T Y (Business No. Street Citv / Town Province) EtrM Month Day Fiscal Year 1 7 c FORM TYPE Company Telephone Number Etrffi Month Day Annual Meeting Secondary License Type, if Applicabte Dept. Requiring this Doc. Amended Articles Number/Section Total No. Of Stockholders To be accomplished by SEC Personnel concerned LCU Cashier STAMPS Remarks = pls. Use black ink for scanning purposes

2 SECURITIES AND EXCHANGE COMMISSION sec FoRM 17-C CURRENT REPORT UNDER SECTION 17 of THE SECURTTTES REGULATTONS CODE (SRC) AND SRC RULE 17(a)-r(b)(3) THEREUNDER 1. 8 November 2O12 Date of Report (Date of earliest event reported) SEC ldentification Number BIR Tax ldentification Number 4. GLOBE TELECOM, INC. Exact Name of registrant as specified in 5. PHILIPPINES Province, country or other jurisdiction of incorporation its charter 6 ME...$Fs..u.ee.-on!y)... Industry Classification Code 7. 5/F, Globe Telecom Plaza (Pioneer Highlands), Pioneer...9-o-n-e..r.!{hCip..p-n.-s.ls*'-!!l!:ngglgy._ens..-c_i$y_-.-. Address of principal office 1552 Postal code Registrant's telephone number, including area code L Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the SRC Title of Each Class COMMON SHARES IgL*.-qF.PL.f n..l!l!illig.n Indicate the item numbers reported herein : Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding (as of September 30, 2012) Please refer to attached Re: CORPORATE DTSGLOSURE Pursuant to the requirements of the Securities Regulations Code, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly autiorized. Date: 8Noyember2Q12

3 GLOBE ANNOUNCES 3 RD QUARTER 2012 RESULTS: GROWTH MOMENTUM SUSTAINED WITH RECORD HIGH 3Q12 REVENUES DESPITE A HIGHLY COMPETITIVE MARKET; YTD CONSOLIDATED SERVICE REVENUES & CORE NET INCOME UP 6% & 7% YoY; OFFICIALLY LAUNCHES LONG TERM EVOLUTION (LTE) SERVICE; COMMENCES OFFERS TO PURCHASE DEBT OF BAYAN TELECOMMUNICATIONS, INC. Globe Telecom, Inc. closed the nine-month period with consolidated service revenues of P61.3 billion, up 6% from last year s P57.7 billion. Sustained topline growth was underpinned by strong performances of the mobile, broadband, and fixed line data businesses which grew 6%, 14%, and 9% over last year s results, respectively. Mobile revenues outperformed previous year s levels to end the nine months of the year with P49.9 billion. Growth was largely driven by the success of the Company s revolutionizing customizable postpaid plans, supported by rising demand for mobile browsing and voice services that continued to thrive with the prevalence of unlimited and value promotions. To date, Globe has a total of 32.1 million mobile subscribers, up by 10% from 29.1 million in the same period last year. Increasing demand for internet connectivity, fueled in part by the popularity of social networking sites, coupled with technological advancements that bring about improved internet connection speeds continue to drive growth in the Company s broadband business. Globe has officially launched its LTE broadband service this period to further trigger sales and enhance its line-up of Tattoo Broadband products. As of end-september, Globe has total broadband subscribers of over 1.6 million, up by 20% against 1.4 million in the same period in Against the second quarter, Globe extended its gains to once again deliver a record-breaking performance despite a traditionally lean period. Consolidated service revenues improved by about P36 million from the second period to settle at P20.6 billion in the third quarter. While mobile business fundamentals remained intact, unrelenting pressures from competition coupled with capacity constraints on the existing network held off mobile revenues at P16.6 billion, slightly lower by 1% from the second quarter peak of P16.7 billion. Fixed line data and broadband revenues, on the other hand, increased by 4% and 7% to close the third quarter with about P1.1 billion and P2.2 billion, respectively, and countered the decline in mobile and traditional fixed line voice revenues. Consolidated EBITDA for the nine-month period improved from last year s level by about P129 million to P27.2 billion with revenue gains from both the mobile and fixed line and broadband segments outpacing the overall rise in expenses. Operating expenses and subsidy increased by 11% year-on-year from P30.6 billion to about P34.2 billion mainly due to sustained investments in subsidy and marketing to acquire and re-contract new and existing postpaid subscribers as well as to support the various product and service launches. Network-related costs were also up year-on-year to support an expanded mobile and broadband network. This

4 year s operating costs likewise included additional charges related to the network modernization and IT transformation program. As a result, consolidated EBITDA margin as of September stood at 44% compared to 47% in the same period in Coupled with the increase in depreciation charges arising from ongoing efforts to upgrade the networks, net income after tax declined by 15% from about P8.0 billion a year ago to P6.8 billion this period. Excluding foreign exchange and mark-to-market gains and losses, as well as non-recurring items such as the accelerated depreciation charges, however, core net income was up by 7% year-on-year from P8.2 billion to about P8.8 billion. On sequential basis, consolidated EBITDA was up 5% from P9.0 billion in the second quarter to P9.5 billion following a 4% decline in operating expenses. Third quarter operating expenses and subsidy were down by about P400 million from last quarter to P11.1 billion primarily due to lower marketing and subsidy costs. Congestion and capacity constraints on the existing network triggered by the surge in voice and data traffic prevented the Company to push services that partly resulted to a slowdown in subscriber acquisitions in the third quarter. As a result, consolidated EBITDA margin in the third quarter improved to 46% from 44% in the second period. However, with higher depreciation charges stemming from the larger scale network modernization initiatives, net income after tax declined by 19% from P2.3 billion to P1.8 billion in the third quarter. Excluding foreign exchange and mark-to-market gains and losses as well as non-recurring items, however, core net income in the third quarter increased by 6% to P3.1 billion from P2.9 billion last quarter. Despite the very challenging competitive environment, our business remains fundamentally strong. We were able to build on our earlier triumphs with customer focus being our key differentiator, Ernest L. Cu, President and CEO of Globe Telecom, Inc. said. Going against a traditionally lean season, we sustained our growth momentum once again in the third quarter. We still managed to post another record quarter considering that we had to confront capacity constraints on our existing network due to the spike in voice and data traffic, which only reinforced our drive to modernize our entire network and IT infrastructure. We expect competition to escalate especially after the gains that we have realized, but we are prepared for the challenge and will be in a much better position to deliver overall enhanced value to our stakeholders upon completion of our network upgrade and with the new capacities coming onstream, added Mr. Cu. In the third quarter, Globe stepped up its efforts in delivering value to its loyal subscriber base through the various innovative service offerings across the domestic and international fronts of the mobile business, supported by the launch of its latest broadband service utilizing the LTE technology as well as exploring new channels for its mobile commerce business, GCash. Amid an intensely competitive environment, Globe remained focus and committed to its thrust of providing the best service offerings anchored on differentiating customer service. In the third quarter, the Company announced its initial and exclusive line-up of smartphones that will run on the mobile LTE network in the fourth quarter. The LTE-powered smartphone devices consisting of the Samsung Galaxy S III LTE, HTC One XL, ZTE T81, and Huawei Ascend P1 LTE, which 2

5 provide subscribers with faster mobile browsing speeds as well as better quality SMS and voice experience, will be available starting at Plan 999 and will come with bundled services such as unlimited surfing, consumable amount for calls and texts and other freebies. The Company also started offering the revolutionary Nano-SIM in its Globe Stores in anticipation of the high demand from subscribers especially when the latest generation of smartphones that run with Nano-SIMs is launched in the market. Globe is offering the Nano- SIM to both Globe Postpaid and Globe Prepaid subscribers. To counter competition and respond to subscriber preference, Globe Prepaid introduced its strongest unlimited promo to date, GoUnli30, which provides unlimited all-network SMS, unlimited on-net calls, and unlimited Facebook browsing for an affordable rate of only P30 for one day. On the other hand, to address the growing demand for mobile internet usage, Globe Prepaid and TM boosted their mobile browsing offerings with the launch of 3 data packages that cost only P20 per subscription: Social20 for 1 day unlimited access to Facebook, Twitter, and Multiply, Fun20 for 1 day unlimited access to Facebook and YouTube, and Mail20 for 1 day unlimited access to Facebook, Yahoo Mail and Gmail. Meanwhile, for the mass market brand, TM, the Company boosted its value offerings with Combo 10 which gives subscribers unlimited text and 10-minute bucket voice services within the TM and Globe networks as well as 50 all-network SMS for as low as P10 for one day subscription. On the international front, Globe enhanced its services to now include an unlimited data roaming plan, Bridge Data Roam Unlimited and Bridge Data Roam Unlimited Plus, whenever Globe Postpaid subscribers are logged on to Bridge Alliance operators networks in the Asia Pacific Region as well as in partners networks in USA, China, and Europe. For Globe Postpaid roamers in Thailand, on the other hand, the Company launched a special all-unlimited roaming service which is available in three denominations: US$10 for 1 day of unlimited mobile internet browsing, US$30 for 1 day of unlimited mobile internet browsing and voice service, and US$40 for 1 day of unlimited mobile internet browsing, voice and text services. Alternatively, to get 7 days of bucket international call and text services, Globe Postpaid subscribers may subscribe to the Bridge Voice SMS Roam service while traveling across Bridge Alliance operators and partners networks. Bridge Voice SMS Roam is available in three variants: US$18 for 15 call minutes and 15 SMS, US$32 for 30 call minutes and 30 SMS, and US$60 for 60 call minutes and 60 SMS. To beef up its international services, Globe Prepaid likewise launched discounted IDD rates with its Go TipIDD offering which comes in three denominations: Go TipIDD30 for discounted per minute IDD calls worth P30 valid for 3 days, Go TipIDD50 for discounted per minute IDD calls worth P50 valid for 7 days, and Go TipIDD100 for discounted per minute IDD calls worth P100 valid for 15 days. 3

6 In the third period, Globe has also officially launched its LTE broadband service with Tattoo Black Postpaid Plans that comes in 2 packages that offer unique and personalized services. Tattoo Black 1799 comes with a free LTE USB dongle and provides unlimited browsing at speeds of up to 28 Mbps with perks such as priority handling in stores, a dedicated customer service hotline, and discounts at partner establishments. Tattoo Black Elite 2499, on the other hand, comes with an LTE Superstick that delivers even faster speeds at 42 Mbps and provides additional features such as a personal relationship manager and priority reservation for future Globe handsets and tablet devices as well as complimentary tickets to Tattoo events. To make its mobile commerce business more accessible to a wider subscriber base, Globe recently launched a mobile application of its GCash mobile wallet which may be downloaded for free from the App Store, Google Play or BlackBerry App World. The smartphone application makes it more convenient and enjoyable for users to do GCash transactions such as settling postpaid accounts, paying utility bills and credit cards, and topping up E-Pass and Easy Trip. Meanwhile, to further complement its mobile wallet functions, Globe has also recently partnered with American Express to launch the GCash American Express Virtual Card, a prepaid virtual card linked to a subscriber s GCash mobile wallet which allows users to shop conveniently online from both local and international sites. Further, it gives the user a personalized US Address to allow delivery of purchases from international online sites which may not be directly shipping goods to the Philippines. In other developments, the Company announced last November 5, 2012 that it has obtained the approval by its Board of Directors to commence offers to purchase (the Debt Offers ) up to 100% of the financial obligations of Bayan Telecommunications, Inc. ( BTI ) and subsidiary Radio Communications of the Philippines, Inc. ( RCPI ) to their respective financial creditors. The Debt Offers are conditioned on, among other things, acceptance by at least 70% of the holders of the unsecured financial indebtedness of BTI under the USD 13.5% bonds originally due in 2006; 70% of the outstanding other financial indebtedness owed by BTI; and 70% of the outstanding financial indebtedness owed by RCPI, based on outstanding aggregate principal amount under the terms of the rehabilitation plan of BTI and RCPI. BTI has been subject to court-supervised rehabilitation proceedings since The current rehabilitation plan anticipates that BTI and RCPI will remain in rehabilitation until In the event that the Debt Offers are completed, Globe intends to apply with the rehabilitation court to amend the terms of the rehabilitation plan in the interest of assuring BTI s long-term sustainability. Meanwhile, Globe has commenced separate discussions with the controlling shareholders of BTI regarding a wide range of commercial arrangements including a potential acquisition by Globe of an equity interest in BTI. The approval of the National Telecommunications Commission is required to complete the acquisition. The parties remain in discussions on the terms of the commercial arrangements including the price and other conditions under which the acquisition may be effected. No definitive arrangement has been executed at this time. 4

7 3Q 2012 FINANCIAL SUMMARY In Php Mn Quarter on Quarter Globe Group Year on Year 3Q 2Q QoQ 30 Sep 30 Sep YoY Service Revenues 1 20,557 20,521-61,324 57,674 6% Mobile.. 16,577 16,710-1% 49,858 47,055 6% Broadband.. 2,243 2,089 7% 6,349 5,557 14% Fixed line Data... 1,058 1,020 4% 3,075 2,827 9% Fixed line Voice % 2,042 2,235-9% Operating Expenses and Subsidy 11,080 11,513-4% 34,168 30,647 11% EBITDA.. 9,477 9,008 5% 27,156 27,027 - EBITDA Margin 46% 44% 44% 47% Depreciation 6,459 5,433 19% 16,242 13,773 18% Affected by network modernization 1,812 1,032 76% 2, Others... 4,647 4,401 6% 13,275 13,773-4% Net Income After Tax (NIAT) 1,843 2,264-19% 6,808 7,994-15% Core Net Income. 3,104 2,928 6% 8,772 8,176 7% service revenues have been restated to reflect the change in the presentation of outbound revenues to be at gross of interconnect expenses (from net previously). Consolidated service revenues as of end-september rose to P61.3 billion, up 6% from about P57.7 billion in the same period last year following the continued strong performance of the mobile, broadband, and fixed line data segments. Mobile business revenues increased by 6% year-on-year despite continued pressures from competition, peaking penetration levels amid the rising incidence of multi-sim usage, and declining yields resulting from subscribers continued shift from regular pay-as-you-use service to unlimited and bucket offers. Broadband and fixed line data revenues similarly sustained their growth momentum and were up by 14% and 9% year-on-year, respectively, stemming from an increased demand for internet connectivity. On sequential basis, consolidated service revenues surpassed previous quarter s level by about P36 million to register a new all-time high in the third quarter despite being a traditionally lean season. Mobile revenues in the third quarter were slightly down by 1% or by about P133 million against the second period and were confronted by a challenging competitive environment, notwithstanding capacity constraints on the existing legacy network brought about by the surge in demand for the Company s voice and data services. Fixed line data and broadband revenues, on the other hand, increased by 4% and 7%, respectively, on sustained strong demand for data services from the corporate sector as well as the expansion of Tattoo-At-Home and Tattoo-On-The-Go subscribers which more than offset the decline in mobile revenues. Total operating expenses and subsidy grew by 11% from last year s P30.6 billion to about P34.2 billion driven largely by subsidy and marketing expenses for the acquisition and re-contracting of new and existing postpaid subscribers, as well as support for various brand-building initiatives and product and service launches in the mobile business. Network-related expenses such as electricity, rent, and repairs and maintenance also increased from last year s levels as a result of the continued expansion of the 2G, 3G, and broadband networks. Operating costs were likewise driven by the year-on-year increase in 5

8 various outsourced service expenses, professional fees for various projects being undertaken, as well as increases in taxes and license fees. These were all partly countered by the decline in interconnect charges which were driven by the NTC-mandated reduction in access charges implemented in late On sequential basis, however, operating expenses and subsidy decreased by 4% from P11.5 billion to about P11.1 billion in the third quarter primarily due to the decline in marketing and subsidy charges. Consolidated EBITDA was slightly better than last year s level by about P129 million to close the first nine months of the year at P27.2 billion. Revenue gains from both the mobile and fixed line and broadband units enabled the Company to cover the overall rise in expenses. Consolidated EBITDA margin stood at 44% at the end of the period compared to 47% last year. Against last quarter, consolidated EBITDA likewise increased by 5% from P9.0 billion to almost P9.5 billion in the third period driven by the decline in operating expenses. As a result, EBITDA margin in the third quarter improved to 46% from 44% in the second period. Total depreciation expense increased by 18% from about P13.8 billion to P16.2 billion as of end-september given that this year s amount include charges related to the Company s network modernization and IT transformation programs. As the Company had disclosed in the past, the carrying value of the old, non-useable assets will impact Globe s profitability through an acceleration of depreciation over its remaining useful life and until such time when the new, replacement assets are ready for service. Accelerated depreciation charges further increased in the third quarter to bring the year-to-date total to P3.0 billion. Excluding this item, total depreciation expense would have declined by 4% year-on-year at about P13.3 billion. Non-operating charges were down 30% from last year driven mainly by higher foreign exchange gains recognized in the current period compared to last year. Against last quarter, however, non-operating expenses were slightly up by 1% or about P4.0 million with the decline in foreign exchange gains recognized quarter-on-quarter. Consolidated net income after tax stood at P6.8 billion as of end-september this year, down 15% from almost P8.0 billion in the same period last year driven by the continued investments in subscriber acquisitions and network and IT infrastructure. Excluding foreign exchange and mark-to-market gains and losses as well as non-recurring items, core net income after tax increased by 7% from about P8.2 billion last year to nearly P8.8 billion this period. On sequential basis, net income after tax was down 19% on higher depreciation charges related to the ongoing efforts to modernize the networks, while core net income was up 6% from P2.9 billion to P3.1 billion in the third quarter. Year-to-date total capital expenditures stood at P16.0 billion, 16% higher than last year s level of P13.9 billion. This year s amount included investments in network modernization and IT transformation coupled with the usual spend to expand coverage and capacity of the Company s broadband and mobile networks. As of end-september, Globe has a total of 12,820 base stations and 7,352 cell sites to support its 2G, 3G, 4G and WiMAX services. 6

9 Mobile Business In Php Mn Service Quarter on Quarter Year on Year 3Q 2Q QoQ 30 Sep 30 Sep YoY Data ,123 8,044 1% 24,359 22,945 6% Voice ,454 8,666-2% 25,499 24,110 6% Mobile Service Revenues ,577 16,710-1% 49,858 47,055 6% service revenues have been restated to reflect the change in the presentation of outbound revenues to be at gross of interconnect expenses (from net previously). Mobile data revenues comprised 49% of total mobile service revenues and were up 6% yearon-year from P22.9 billion to about P24.4 billion this period driven largely by the increase in mobile data browsing, unlimited SMS subscriptions as well as other value-added services which compensated for the decline in regular, pay-per-use SMS and inbound SMS revenues. The decline in inbound SMS revenues was driven by the NTC-mandated reduction in access charges from P0.35 to P0.15 per SMS, implemented in the last quarter of Local inbound SMS traffic, or SMS originating from other networks but terminating in Globe s network, grew against last year, partially mitigating the impact of the reduced access charges. Note further that the reduction in inbound SMS revenues was offset by a greater reduction in interconnect charges (for SMS originating in Globe s network but terminating in other networks). On a sequential basis, mobile data revenues were slightly up by 1% or about P79 million with growth from mobile browsing, international SMS, unlimited SMS, and inbound revenues mitigating the decline in regular pay-per-use SMS. Mobile voice revenues accounted for 51% of total mobile service revenues and were up 6% year-on-year from P24.1 billion to about P25.5 billion this period following the increase in unlimited and bulk voice subscriptions, as well as growth in VOIP and roaming service revenues which more than offset the decline in regular outbound voice and international services. Against last quarter, however, mobile voice revenues were down by 2% from P8.7 billion to about P8.5 billion in the third period as growth in unlimited and bulk voice services was not enough to counter the decline in IDD, roaming and regular outbound voice revenues. 7

10 Key Drivers for the Mobile Business Quarter on Quarter Year on Year 3Q 2Q QoQ 30 Sep 30 Sep YoY Cumulative Subscribers (or SIMs) Net End of Period 32,054,975 31,726,343 1% 32,054,975 29,118,087 10% Globe Postpaid 1.. 1,662,753 1,599,603 4% 1,662,753 1,368,417 22% Prepaid... 30,392,222 30,126,740 1% 30,392,222 27,749,670 10% Globe Prepaid 16,143,403 16,109,634-16,143,403 15,055,022 7% TM 14,248,819 14,017,106 2% 14,248,819 12,694,648 12% Ave. Revenue Per Subscriber (ARPU) ARPU 2 Globe Postpaid. 1,173 1,205-3% 1,186 1,243-5% Prepaid Globe Prepaid % % TM % % Subscriber Acquisition Cost (SAC) Globe Postpaid. 7,481 8,119-8% 8,578 3, % Prepaid Globe Prepaid % % TM % % Ave. Monthly Churn Rate Globe Postpaid % 1.9% 1.8% 1.4% Prepaid Globe Prepaid % 5.7% 5.6% 5.5% TM % 6.4% 6.3% 6.5% 1 As of 3Q 2012, Globe had a total of 1.99 million wireless postpaid subscribers which include 1.66 million mobile telephony and 0.33 million wireless broadband customers. This is higher compared to the 1.91 million wireless postpaid subscribers as of 2Q Mobile telephony revenues are reflected under Mobile Service Revenues while wireless broadband revenues are included under Broadband. 2 ARPU is computed by dividing recurring gross service revenues (gross of interconnect expenses) by the average number of the segment s subscribers and then dividing the quotient by the number of months in the period. 3 Prior period figures have been restated for comparability. As of end-september, the Company had total mobile subscriber base of 32.1 million, up 10% and 1% from last year and last quarter, respectively. Given challenges brought about by constraints in capacity as well as intensified competition, third quarter gross acquisitions were down 6% from 6.1 million in the second quarter to about 5.8 million as the slowdown in prepaid acquisitions more than offset the increase in postpaid gross additions. Even with churn maintained at manageable levels, net subscriber additions in the third quarter went down to 328,632, 53% below previous quarter s level of 701,508. On a year-to-date basis, gross acquisitions remained above last year s level of about 17.1 million to close this period with nearly 18.0 million new SIMs. However, increased churn 8

11 coupled with the slowdown in acquisitions brought year-to-date net incremental subscribers to 2.0 million, down 24% from 2.6 million in the same period last year. Fixed Line and Broadband Business Quarter on Quarter Year on Year In Php Mn 3Q 2Q QoQ 30 Sep 30 Sep YoY Service Revenues Broadband ,243 2,089 7% 6,349 5,557 14% Fixed Line Data.. 1,058 1,020 4% 3,075 2,827 9% Fixed Line Voice % 2,042 2,235-9% Fixed Line & Broadband Service Revenues.. 3,980 3,811 4% 11,466 10,619 8% service revenues have been restated to reflect the change in the presentation of outbound revenues to be at gross of interconnect expenses (from net previously). At the end of September 2012, Tattoo At-Home and Tattoo On-the-Go users totaled 1,635,579, 20% and 3% better than last year and last quarter levels respectively. Revenues grew 14% to P6.3 billion from P5.6 billion in the same period last year. In the third quarter alone, revenues reached P2.2 billion, a 7% improvement from second quarter results coming from increased postpaid subscriptions and internet usage. Quarter on Quarter Year on Year 3Q 2Q QoQ 30 Sep 30 Sep YoY Cumulative Fixed Line Voice Subs Net (End of period) , ,794 1% 699, ,675 5% Cumulative Broadband Subscribers Wireless 2. 1,307,512 1,267,112 3% 1,307,512 1,078,143 21% Wired. 328, ,884 4% 328, ,566 15% Total (end of period).. 1,635,579 1,583,996 3% 1,635,579 1,363,709 20% 1 Includes DUO and SUPERDUO subscribers 2 Includes fixed wireless and fully mobile broadband subscribers. The fixed line data segment likewise contributed to revenue growth with a total of P3,075 million in earnings after the first nine months of the year, 9% higher than the P2,827 million booked in the preceding year. On a sequential basis, the third quarter bested the previous quarter by 4% with a revenue of P1,058 million. This was accomplished by the Company s innovative business solutions and products that capitalized on demand for high-speed data nodes, transmission links, bandwidth capacity and reliable service. Globe Business products include M2M (machineto-machine) solutions, cloud computing services, domestic & international data services, leased lines and managed services among other solutions for improving a business productivity and IT security. Fixed line voice grew another 1% in the third quarter of 2012 to end the period with 699,879 subscribers, around 33,000 or 5% more than last year s levels. However, the increased landline, DUO and SUPERDUO subscriptions were not enough to offset the slide in revenues 9

12 from P2,235 million in the previous year to P2,042 million coming from declining usage of traditional fixed line products and lower ARPU. Quarter-on-quarter, fixed line voice revenues went down 3% from P702 million in the second quarter to P679 million following a 3% decrease in ARPU. For questions, please contact: Tek O. Olaño Jose Mari S. Fajardo Financial Planning Investor Relations (632) (632) joolano@globetel.com.ph ir@globetel.com.ph 10