PLDT is the leading telecommunications provider in the Philippines, offering mobile, fixed broadband, and enterprise connectivity and ICT services across approximately 67.8 million users. PLDT operates through two core businesses: wireless and fixed line. The wireless business, operated under the Smart and TNT brands, serves roughly 60 million mobile subscribers — 96% prepaid — with mobile data the dominant revenue driver, accounting for 83% of mobile service revenues. The fixed line business serves approximately 3.76 million home fiber subscribers and sells enterprise connectivity and ICT services (data centers, cloud, cybersecurity, managed IT) to corporations, SMEs, and government agencies. PLDT also holds a ~37% economic stake in MIH, the parent of Maya, the Philippines' leading digital bank and payments platform. On the wireless side, prepaid subscribers purchase load in small denominations for data and calls, while postpaid subscribers pay fixed monthly plans; PLDT prioritizes postpaid for its higher ARPU and lower churn. Enterprise revenues are a mix of recurring connectivity contracts and project-based ICT work. PLDT's growth strategy centers on expanding home fiber penetration (currently ~19% of homes passed), converting mobile subscribers to 5G, and scaling its VITRO data center business to serve hyperscalers and enterprise customers. PLDT is also focused on deleveraging, targeting a reduction in net debt-to-EBITDA from 2.56x toward 2.0x through lower CapEx, tower and copper asset sales, and a potential data center REIT IPO.