3Q 2017 INVESTOR BRIEFING PRESENTATION November 8, 2017

AGENDA

1

3

Recent Financial

Performance

Liquidity and Capital

Resources

Other Matters

2

4 Questions and

Answers

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers

Nine Months

3

6,435,192 6,836,611 5,768,248

(in TEU)

Volume

9M 2017 vs 9M 2016 consolidated volume up 6%;

Organic volume growth at 5%

Volume growth was due to improving global trade

activities particularly in the emerging markets;

continuing ramp-up at ICTSI Iraq; new services at

CMSA; and the contribution of new terminals, IDRC

and VICT.

12%

6%

6%

Third Quarter

2,170,559 2,291,207 1,880,118

2,998,551 3,364,342 3,577,607

2,080,728

2,247,847 2,183,308

688,969

823,003 1,075,696

2015 2016 2017

Asia Americas EMEA

989,088 1,129,277 1,218,390

664,005

750,687 692,046

227,025

290,595 380,771

2015 2016 2017

12%

35%

53%

13%

35%

52%

17%

30%

53%

15%

12%

36%

52%

13%

35%

52%

16%

32%

52%

-3%

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers

424,558 435,111 435,072

289,466 287,957 304,349

78,011 111,957

178,848

2015 2016 2017

Asia Americas EMEA

Nine Months

4

(in US$ ‘000)

Consolidated revenues 10% higher in 9M 2017 vs

9M 2016; Organic revenue growth at 6%

Consolidated 9M 2017 yield to TEU at US$134 vs

US$130 in FY2016

835,026 918,269 792,035

Yield:TEU (in US$)

Revenues

10%

10%

37%

54%

13%

34%

52%

20%

33%

47%

5%

-0.01%

Third Quarter

127,584 144,955 147,444

86,088

96,476 98,148

26,256

42,780 68,961

2015 2016 2017

284,212 314,553 239,929

11%

36%

53%

15%

34%

51%

22%

31%

47%

2%

18%

11%

121 119 125 127

130 135

143

135 130

134

2%

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers Consolidated P&L Highlights

5

(in US$ ‘000, except Volume & EPS)

9M 2017

Gross Revenues from

Port Operations

Cash Operating Expenses

EBITDA

EBIT

Financing charges and

other expenses

Net Income

Net Income Attributable to

Equity Holders

% change 9M 2016

Fully Diluted EPS

6,836,611 6,435,192 Volume (in TEU) 6%

918,269 835,026

343,431 310,098

434,857

305,584

86,913

168,135

149,316

390,329

280,490

141,920

66,838

150,813

0.058 0.052

10%

11%

11%

9%

30%

11%

5%

12%

Revenues increased 10% mainly due to volume growth; tariff rate

adjustments at certain terminals; new contracts with shipping lines and

services; and contribution of the new terminals IDRC and VICT;

Organic revenue growth at 6%

Cash Opex 11% higher due to cost contribution of the new terminals;

higher throughput and increase in fuel prices and power rates at certain

terminals; and unfavorable translation impact of the BRL appreciation at

Suape, Brazil

EBITDA increased 11% mainly due to strong volume and revenue growth;

cost optimization measures; and positive contribution of the new terminal

in DRC

EBITDA margin improved to 47.4% from 46.7%

Volume up 6% due to improving global trade particularly in the emerging

markets; continuing ramp-up at ICTSI Iraq; new services at Manzanillo,

Mexico and the new terminals in Matadi, DRC and Melbourne, Australia;

Organic volume growth at 5%

Net income attributable to equity holders up 5% due to continuing ramp-up

at the new terminal in Matadi, DRC; strong operating income contribution

from the terminals in Iraq, Mexico and Brazil; and the one-time gain on the

termination of the sub-concession agreement in Nigeria tapered by higher

interest & financing charges; higher depreciation & amortization expenses;

start-up costs at the new terminal in Australia and increase in the share in

the net loss of the new terminal in Colombia

Financing charges and other expenses up 30% mainly due to higher

average loan balance, lower capitalized borrowing cost on qualifying

assets and the acceleration of the amortization of debt issue cost

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers Consolidated P&L Highlights

6

(in US$ ‘000, except Volume & EPS)

3Q 2017

Gross Revenues from

Port Operations

Cash Operating Expenses

EBITDA

EBIT

Financing charges and

other expenses

Net Income

Net Income Attributable to

Equity Holders

% change 3Q 2016

Fully Diluted EPS

2,291,207 2,170,559 Volume (in TEU) 6%

314,553 284,212

121,716 105,872

145,145

99,157

27,867

53,018

45,680

132,876

96,246

54,637

20,954

58,204

0.017 0.021

11%

15%

9%

3%

33%

-9%

-16%

-19%

Revenues increased 11% mainly due to volume growth; tariff rate

adjustments at certain terminals; new contracts with shipping lines and

services; and contribution of the new terminals IDRC and VICT;

Organic revenue growth at 6%

Cash Opex 15% higher due to cost contribution of the new terminals,

higher throughput and increase in fuel prices and power rates at certain

terminals; and unfavorable translation impact of the BRL and MXN

appreciation at Suape, Brazil and Manzanillo, Mexico, respectively

EBITDA increased 9% mainly due to strong volume and revenue growth;

cost optimization measures; and positive contribution of the new terminal

in DRC

EBITDA margin slightly decreased from 46.8% to 46.1%

Volume up 6% due to improving global trade particularly in the emerging

markets; continuing ramp-up at ICTSI Iraq; new services at Manzanillo,

Mexico and the new terminals in Matadi, DRC and Melbourne, Australia;

Organic volume growth at 3%

Net income attributable to equity holders decreased 16% due to higher

interest & financing charges; higher depreciation & amortization

expenses; and start-up costs at the new terminal in Australia and increase

in the share in the net loss of the new terminal in Colombia

Financing charges and other expenses up 33% mainly due to higher

average loan balance and lower capitalized borrowing cost on qualifying

assets

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers Financing Charges & Other Expenses

7

Average Outstanding Debt Balance 1,253,025

66,838

1,497,725

86,912

20%

Financing charges & other expenses

Interest Expense on Loans/Bonds 68,916 77,971 13%

Capitalized Borrowing Cost (16,312) (8,604) -47%

Amortization of Debt Issue Cost 4,004 5,574 39%

Other Expenses 10,230 11,971 17%

Average Outstanding Debt Balance higher mainly

due to Project finance loans of CMSA and VICT

Lower capitalized borrowing cost on qualifying assets

Higher interest expense due to higher debt level

30%

9M 2017 % change 9M 2016

(in US$ ‘000s)

Other expenses increased due to the acceleration of

the amortization of debt issue cost as the Company

terminated its revolving credit facility.

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers CURRENCY RISK ANALYSIS Historical Volume, Revenue & EBITDA

8

249 261

269 282

296

256

240

259 266

284 284 293 297

307 315

104 109 114 117 128

110 102

111 122

136 133 135 147 143 145

0

500

1,000

1,500

2,000

2,500

0

50

100

150

200

250

300

350

400

1Q2014

2Q 3Q 4Q 1Q2015

2Q 3Q 4Q 1Q2016

2Q 3Q 4Q 1Q2017

2Q 3Q

Vo

lum

e (

in T

EU

thousands)

(in U

SD

mill

ions)

Revenue EBITDA Volume

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers 9M 2017 Revenue Profile by Currency

9

Revenue Currency by Subsidiary Revenue Breakdown by Currency

Subsidiaries USD EUR Local Currency

MICT 44% 56% PHP

PTMTS 100% IDR

YICT 100% RMB

OJA 66% 34% IDR

PICT 77% 23% PKR

NMCTS 100% BND

SBITC/ISI 52% 48% PHP

SCIPSI 100% PHP

DIPSSCOR 100% PHP

HIPS 100% PHP

MICTSI 100% PHP

BIPI 100% PHP

LGICT 100% PHP

VICT 100% AUD

BCT 75% 25% PLN

MICTSL 100%

BICT 100%

AGCT 78% 22% HRK

BGT 90% 10% IQD

IDRC 100%

TSSA 100% BRL

CGSA 100%

OPC 100%

CMSA 50% 50% MXN

AS

IA

EM

EA

AM

ER

IC

AS

USD 55%

PHP 21%

BRL 6%

MXN 5%

EUR 5%

RMB 2% PKR

2%

Others 3%

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers 9M 2017 Cash Expense Profile by Currency

10

Cash Expense Currency by Subsidiary Expense Breakdown by Currency

Note: Total Cash Expense includes Cash Opex, Port Fees, Debt Service

(including perpetual securities), and Income tax paid

Subsidiaries USD EUR Local Currency

MICT 35% 65% PHP

PTMTS 100% IDR

YICT 100% RMB

OJA 14% 86% IDR

PICT 17% 83% PKR

NMCTS 100% BND

SBITC/ISI 43% 57% PHP

SCIPSI 100% PHP

DIPSSCOR 100% PHP

HIPS 100% PHP

MICTSI 100% PHP

BIPI 100% PHP

LGICT 100% PHP

VICT 4% 96% AUD

BCT 36% 64% PLN

MICTSL 2% 38% 60% MGA

BICT 100% GEL

AGCT 12% 88% HRK

BGT 16% 84% IQD

IDRC 96% 4% CDF

TSSA 100% BRL

CGSA 100%

OPC 52% 48% HNL

CMSA 5% 95% MXN

TMT 100% MXN

TECPLATA 17% 83% ARS

AS

IA

EM

EA

AM

ER

IC

AS

USD 43%

PHP 18%

MXN 6%

BRL 6%

AUD 6%

PKR 5%

IQD 3%

HNL 3%

Others 9.7%

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers FX Movement since January 2015

11

90

100

110

120

130

140

150

160

January-September

Currency Ave 2016 Ave 2017 Growth (%)

BRL 3.54 3.17 10.36

EUR 0.90 0.90 (0.26)

PKR 104.70 104.99 (0.28)

MXN 18.30 18.90 (3.25)

RMB 6.58 6.80 (3.35)

PHP 46.95 50.24 (7.00)

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers

3Q 2016 3Q 2017 % Change 9M 2016 9M 2017 % Change

2,171 2,291 6% Volume (TEU ‘000) 6,435 6,837 6%

284 315 11% Revenues (US$ million) 835 918 10%

131 137 5% Yield/TEU (US$) 130 134 4%

133 145 9% EBITDA (US$ million) 390 435 11%

47% 46% EBITDA Margin 47% 47%

12

2017 Yield/TEU Comparison

+4

+6

FX : Negative impact of the

translation of PHP, EUR, and

MXN revenues tapered by BRL

appreciation

Favorable volume mix at TSSA ,

increase in break bulk revenues

and increase tariff rates in CGSA,

BGT volume transfer to NCT

(B27), and contribution of IDRC

and VICT

FX : Negative impact of the

translation of PHP, EUR revenues

tapered by BRL and MXN

appreciation

Favorable volume mix at TSSA ,

increase in break bulk revenues and

increase tariff rates in CGSA, higher

storage revenues at MICTSL, BGT

volume transfer to NCT (B27), and

contribution of IDRC and VICT

+6

+8

-2 -2

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers

13

Yield/TEU Evolution

129.9

134.3

1.5

4.6

1.6

120

122

124

126

128

130

132

134

136

138

Yield/TEUDec 2016

New Terminals Organic Forex Yield/TEUSept 2017

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers

14

EBITDA Margin Evolution

46.5%

47.4%

2.6%

0.01%

1.8%

45%

46%

47%

48%

49%

50%

EBITDA %Dec 2016

Organic Forex New Terminals EBITDA %Sept 2017

AGENDA

1

3

Recent Financial

Performance

Liquidity and

Capital Resources

Other Matters

2

4 Questions and

Answers

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers

Intangible and Property and equipment 2,864 3,102 3,166

Cash and cash equivalents 354 325 320

Other current and noncurrent assets 613 755 796

Total Assets

Total Short-term and Long-term debt 1,083 1,381 1,469

Concession rights payable 512 491 483

Other current and noncurrent liabilities 410 544 472

Total Liabilities

Total Equity

Gearing: Debt/SHE 0.59 0.78 0.79

Debt Cover Ratio: Debt/EBITDA (per covenant) 2.57 2.31 2.24

Current Ratio: Current Assets/Current Liabilities 1.78 1.18 1.43

DSCR: EBITDA/(Interest + Scheduled Principal Payments) 2.33 1.83 2.16

Balance Sheet Summary

16

(in US$ millions)

3,831 4,282 4,182

2,005 2,424 2,416

1,826 1,858 1,766

2016 2015 9M2017

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers

LME3 in October 2016

LME

(in US$ million)

Principal Redemption Profile

17

as of September 30, 2017

Liability management exercise in October 2016 extended duration of US$345 million perpetual

securities from 2019 and 2021 to 2024, and reduced coupon from 6.25% and 5.5% to 4.875%.

No significant maturity until 2020

Capital structure is well positioned to match the long-term

nature of port concession contracts.

0

100

200

300

400

500

600

2017 2018 2019 2020 2021 2022 2023 2024 2025

LT Loans/Bonds Perp ST Loans RCF LME

0

100

200

300

400

500

600

2017 2018 2019 2020 2021 2022 2023 2024 2025

LT Loans/Bonds Perp ST Loans

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers

Greenfield Expansionary Maintenance

2016 CAPEX mainly for:

GREENFIELD: Australia, Iraq, DR Congo, Mexico & Honduras

EXPANSIONARY: Manila, Ecuador

US$299M (84%)

US$30M (8%)

US$25M (7%)

2017 CAPEX mainly for:

GREENFIELD:, Australia, Iraq, DR Congo, Honduras

EXPANSIONARY: Manila, Mexico

18

Capital Expenditures

2017B 2016A

US$354M

Investment (SPIA)

US$41M US$25M

US$240M

US$135M (56%)

US$75M (31%)

US$30M (13%)

AGENDA

1

3

Recent Financial

Performance

Liquidity and Capital

Resources

Others Matters

2

4 Questions and

Answers

Recent

Financial

Performance

Liquidity

and Capital

Resources

Other

Matters

Questions

and

Answers Recent Events

20

ICTSI Oregon, Inc., and the Port of Portland have mutually agreed to terminate a 25-year lease

agreement to operate the container facility at the Port’s Terminal 6 Mar

Cavite Gateway Terminal, in partnership with the Philippine Department of Transportation, launched the

country’s first container roll-on roll-off barge terminal in Tanza, Cavite Apr

2017

New Muara Container Terminal Services’s Services Agreement with the Port Department to operate

and maintain the Muara Container Terminal was not renewed Feb

Lekki International Container Terminal Services LFTZ Enterprise and Lekki Port LFTZ Enterprise

have mutually agreed to terminate their Sub-concession Agreement May

Motukea International Terminal Limited (“MITL”) and South Pacific International Container

Terminal Limited (“SPICTL”) signed 25-year Terminal Operating Agreements with PNG Ports

Corporation Limited (“PNGPCL”) for the Operation, Management and Development of the

international ports in Motukea and Lae, in Papua New Guinea

Sep

ICTSI acquired 34.83% of Manila North Harbour Port, Inc (“MNHPI”) from Petron Corporation

ICTSI has signed expansion agreement for the second development phase of the Basra Gateway

Terminal (BGT) in the North Port, Umm Qasr, Iraq Oct

Nov PT ICTSI Jasa Prima Tbk (IJP) signed a conditional share purchase agreement with PT Samudera

Terminal Indonesia (STI) for the purchase of IJP’s interest in PT Perusahaan Bongkar Muat Olah Jasa

Anda (OJA), subject to certain conditions.

AGENDA

1

3

Recent Financial

Performance

Liquidity and Capital

Resources

Other Matters

2

4 Questions and

Answers

3Q 2017 INVESTOR BRIEFING PRESENTATION