Robinsons Land (RLC) Q2 2025 earnings summary

Significant events and developments

• Fully disbursed proceeds from the October 2024 block placement of 318,902,800 RL Commercial REIT, Inc. (RCR) shares, totaling P1,868,770,408, in line with the Reinvestment Plan as of June 30, 2025.

• Of the proceeds, P31,284,692 was used for block placement expenses, and P1,837,485,716 was allocated to capital expenditures across multiple real estate projects.

• Capital expenditures funded included developments such as The Sapphire Bloc, Cybergate Iloilo Towers, Project Jewel, Le Pont Residences, Woodsville Crest, Amisa Private Residences, Robinsons Bacolod Redevelopment, Robinsons Manila Redevelopment, GBF Center Tower 2, Robinsons Dumaguete Expansion, Forum Redevelopment, Galleria Residences Cebu, Robinsons Antipolo Expansion, Robinsons Pagadian, and land acquisition in Luzon.

• Disbursements were verified by external auditor Sycip Gorres Velayo & Co. (SGV) through agreed-upon procedures, confirming all amounts and classifications matched supporting documents and accounting records.

Capital allocation and financing

• The entire gross proceeds from the RCR block placement were allocated and disbursed by June 30, 2025, with no remaining balance.

• Disbursements for capital expenditures were made in tranches: P894,095,628 from October 22, 2024 to March 31, 2025, and P943,390,088 from April 1, 2025 to June 30, 2025.

• Block placement expenses accounted for 1.7% of the total proceeds.

Notes to the financial statements

• SGV’s agreed-upon procedures report found no exceptions in the application, classification, or documentation of the proceeds and expenditures.

• The report is limited to the application of proceeds and does not extend to the company’s overall financial statements.