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Financial Management and Operation

MANG INASAL PHILIPPINES, INC.

Paul Gabriel A. Laroza Reymuel Martinez Katherine Louise A. Rogacion Nico Veridiano

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Company Background

Established on December 12, 2003 in Iloilo City Fastest growing barbeque fast food chain 354 branches to date Manila Corporate Office is located at 2316 Aurora Boulevard, Tramo St., Pasay City Iloilo Corporate Office is located at Four Season Hotel, Delgado St., Iloilo City. As of November 22, 2010, Mang Inasal Philippines, Inc. operates as a subsidiary of Jollibee Foods Corp.

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Primary Purpose

To engage and carry on the business of operating, managing a restaurant, caf and fast food business or enter into a franchise agreement for the operation thereof; to buy, sell, lease or otherwise dispose of and operate, conduct, furnish, equip and manage restaurant, eating houses, taverns, cafes, and places of entertainment.

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Company Mission, Vision and Corporate Social Responsibility is to be the preferred The vision of the company
quick service restaurant of every pinoy everywhere.

The mission of the company is to consistently provide our customers a great pinoy dining experience.

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Company Mission, Vision and Corporate Social Responsibility to build one home Mang Inasal donated P85,000
for the Gawad Kalinga Foundation last July 9, 2010

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Company Mission, Vision and Corporate Social Responsibility to SOS Childrens Mang Inasal donated P100,000
Villages Iloilo in celebration of hitting the 250th branches nationwide mark.

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Company Mission, Vision and Corporate Social Responsibility packs of rice (5 kilos Mang Inasal distributes 800
each) to fire victims of Brgy. Nabitasan, La Paz, Iloilo City on January 25, 2010.

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Company Mission, Vision and Corporate Social Responsibilityproject will educate Mang Inasal Forest This
people to be sustainable by taking care of the environment. Mang Inasal is committed towards a clean environment and better livelihood for the Filipino people.

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Company Updates

The opening of the 300th branch was opened at the Ground Floor, Entertainment Mall, SM Mall of Asia on October 1, 2010. Mang Inasal Philippines Inc. is preparing for its planned Initial Public Offering (IPO) in the first quarter of 2011 as it remains confident of good business potential and further expansion. The commissary at Manalac Industrial Estate in Bagumbayan, Taguig is now fully operational. This is compliant with Triple A meat processing plant standards.

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Company Updates

December 2009 Chairman Edgar Sia II signed a contract with the companys Philippine representatives to use Oracles ERP software. (thru Active Business Solutions) September 2010 - Metro Manila residents can start dialing the centralized number 733-1111 and give their Mang Inasal orders for delivery anywhere in the metropolis. The 1st Mang Inasal Franchise Conference will be scheduled on the first quarter of 2011 at least a month before the company goes public and gives its Initial Public Offering (IPO).

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Franchise Details

Franchise Fee: P1.1M + 12% VAT

Includes tried and tested operation support, use

of brand/trade name, opening marketing support and training support

Franchise Term: 7 years (renewable) Product Security Deposit: P400,000.00 Space Requirement: 150 to 200 sq. meters Royalty/Service Fee: 5% of Gross Sales Advertising Fee: 2% of Gross Sales Renovation Estimated Cost: 4.5M to 5.5M

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Original Incorporators/Stockhold ers J. Sia, Sr. Edgar

Edgar

J. Sia II J. Sia J. Sia Sia

Ferdinand Pacita

Shella A.

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Original Paid Up Capital

Name of Incorporators Amount Subscribed Amount of Paid Up % Ownership

Injap Investment Inc. Edgar Sia II Edgar Sia Sr. Ferdinand Sia Pacita Sia Shella Sia
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1,187,500.00 12,500.00 12,500.00 12,500.00 12,500.00 12,500.00

296,875.00 3,125.00 3,125.00 3,125.00 3,125.00 3,125.00

95% 1% 1% 1% 1% 1%

General Information Sheet (GIS) As of December 7, 2009

Name of Incorporators Amount Subscribed

Amount of Paid % Ownership Up

Injap Investment Inc. Edgar Sia II Edgar Sia Sr. Ferdinand Sia Pacita Sia Shella Sia
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1,187,500.00 12,500.00 12,500.00 12,500.00 12,500.00 12,500.00

296,875.00 3,125.00 3,125.00 3,125.00 3,125.00 3,125.00

95% 1% 1% 1% 1% 1%

Latest Corporate Officers

Edgar J. Sia II Chairman / CEO Ferdinand J. Sia President / COO James Dy VP Commissary

Elmer Hementera VP Operations

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Latest Corporate Officers

Shella A. Sia EVP Treasury Venancio C. Parcon VP - Finance

Gil Pangilinan Abela Jr. VP - Training

Jess Nemenzo Corporate HR Manager

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Latest Corporate Officers

Marvin Ramos Business Development Head

Enri Ruiz De Luzuriaga Marketing Manager

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Analysis of the Companys Corporate Structure and Management

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Analysis of the Companys Corporate Structure and Management

Business Development Department was created on January 2009 which made a big impact on Mang Inasals growing status. The new commissary at Manalac Industrial Estate in Bagumbayan, Taguig became fully operational last February 2010. Operations department revised the Operations manual for the five basic stations namely, kitchen, counter, quality control, dining and grill. The training center is part of the companys thrust in improving operations, services and food quality.

The certification program for employees will soon become a 4/15/12 requirement prior to the opening of any new Mang

Analysis of the Companys Corporate Structure and Management

Jollibee Foods Corporation acquired 70% of Mang Inasal Philippines, Inc. Of the estimated P3 billion transaction price, Jollibee has paid P200 million to parent firm Injap Investments Inc., which will continue to hold 30% of Mang Inasal. Two board seats in the new organization are reserved for Edgar J. Sia II and Ferdinand Sia who will still be part of the management committee for the coming years.

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Analysis of the Companys Comparative Financial Statements

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Sales

In 2009 Systemwide sales grew by 41%. From PhP 77,150,254.33 in 2008 to 131,581,432.14 . This sharp increase in mainly due to increase in franchise, specially in Mega Manila.
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