Consolidated service revenues rose by 1% or P1.0 billion to P165.1 billion • Consolidated EBITDA margin steady at 47% of service revenues; consolidated EBITDA down 1% at P76.9 billion • Consolidated Core Net Income of P37.4 billion for FY14, 3% or P1.3 billion lower than P38.7 billion in 2013 • Reported Net Income for FY14 of P34.1 billion, P1.3 billion or 4% lower than P35.4 billion in 2013 • Consolidated free cash flow at P27.7 billion for FY14 • Cellular subscriber base at 70.0 million • Total broadband subscribers at over 4.0 million; aggregate revenue contribution from broadband, data and internet services at P31.9 billion for FY14, 20% higher than last year • 53% of fixed line service revenues and 16% of wireless service revenues are derived from data and broadband • 2014 capex rose to P34.8 billion

MANILA, Philippines, 3rd March 2015 –– Philippine Long Distance Telephone Company (“PLDT”) (PSE: TEL) (NYSE: PHI) today announced its audited financial and operating results for 2014 with Consolidated Core Net Income, before exceptional items, amounting to P37.4 billion, 3% or P1.3 billion lower than the P38.7 billion recorded in 2013. The decrease was due mainly to the rise in cash operating expenses, an increase in product subsidies and a higher provision for income tax. Read more