1:17 l LTE , centurypacific.com.ph Done CENTURY PACIFIC FOOD, INC. AND SUBSIDIARIES (A Subsidiary of Century Pacific Group, Inc.) CONSOLIDATED STATEMENTS OF FINANCIAL POSITION Decem Notes 2020 ASSETS Current Assets Cash and cash equivalents 8 P 1,229,381,273 Trade and other receivables - net 7,599,984,172 Due from related parties 27 280,788,885 Inventories - net Biological assets Prepayments and other current assets - net 10 14,313,100,885 14 65,726,630 11 484,492,819 Total Current Assets 23,973,474,664 Non-current Assets Property, plant and equipment - net 15 7,290,756,893 Intangible assets - net Right-of-use assets - net Deferred tax assets Other non-curent assets 12 3,448,276,612 13 678,300,084 34 752,107,229 16 133,450,144 Total Non-current Assets 12,302,890,962 P36,276,365,626 LIABILITIES AND EQUITY Current Liabilities Trade and other payables 18 P 9,670,565,636 Borrowings - current portion 17 3,533,466,680 Income tax payable 194,877,487 75,894,675 271,207,134 Due to related parties 27 Lease liabilities- current portion 32 Total Current Liabilities 13,746,011,612 Non-Current Liabilities Borrowings - net of current portion 17 Retirement benefit obligation Lease liabilities - net of non current portion 19 618,902,329 32 465,842,247 Deferred tax liability 34 9,398,845 Total Non-current Liabilities 1,094,143,421 14,840,155,033 Equity Share capital 20 3,542,258,595 Share premium 20 4,936,859,146 Share-based compensation reserve 28 8,211,398 Other reserves 30,628,942 Currency translation adjustment 23,818,317 Retained earnings 12,894,434,195 21,436,210,593 P36,276,365,626 See Notes to Consolidated Financial Statements. > 1:17 l LTE , centurypacific.com.ph Done (A Subsidiary of Century Pacific Group, Inc.) CONSOLIDATED STATEMENTS OF CASH FLOWS For the Ye Notes 2020 Cash Flows from Operating Activities Profit before tax P5,127,831,149 Adjustments for: 12,13,15 17,32 Depreciation and amortization 1,106,149,015 Finance costs 261,151,374 Provision on slow moving inventories 10 83,254,371 Loss on impairment of input VAT 11 9,316,412 Retirement benefit expense 19 70,397,959 Provision on write-down 10 391,036,678 Loss (Gain) on disposal of property, plant and equipment - net 15 (2,503,626) Allowance for expected loss 9 9,270,257 Provisions on inventory obsolescence Loss on impairment of goodwill Share based compensation expense 24 12 28 Impairment loss of trademark 34,700,000 Interest income 23 (35,206,519) Gain from sale of scrap - net 23 (107,664,525) Unrealized foreign exchange loss (gain) - net 41,100,997 Reversal of allowance for sales return (3,446,268) Reversal of accruals 19 (107,184,824) Reversal of allowance of inventory 10 (373,327,170) Operating cash flows before working capital changes 6,504,875,280 Decrease (Increase) in: Trade and other receivables (605,209,506) Due from related parties (19,199,975) Inventories (2,524,528,199) Biological assets (32,346,274) Prepayments and other current assets 335,800,702 Other non-current assets (43,657,035) Increase (Decrease) in: Trade and other payables 2,955,682,590 Due to related parties 88,515,508 Finance lease obligation Exchange differences on translating operating assets and liabilities Cash generated from operations 6,659,933,091 (48,612,624) (1,468,959,658) Contribution to the retirement fund 19 Income tax paid Interest received 35,136,001 Net cash from (used in) operating activities 5,177,496,81o Cash Flows from Investing Activities Acquisitions of property, plant and equipment 15 (1,736,384,126) Proceeds from sale of property, plant and equipment 2,503,626 Net cash used in investing activities (1,733,880,500) Cash Flows from Financing Activities Proceeds from borrowings 17 5,551,000,000 Repayments of borrowings 17 (7,537,541,907) Dividends paid 29 (1,275,213,094) (264,635,783) (295,688,307) Finance costs paid Payment of lease liabilities Net cash from (used in) financing activities 32 (3,822,079,090) (378,462,781) 1,607,844,054 Net Increase (Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents, Beginning Cash and Cash Equivalents, End 8 P1,229,381,273 See Notes to Consolidated Financial Statements.