Philippine Business Bank : Stock Rights Offering

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Aug 17, 20222. SEC Identification Number A1997015843. BIR Tax Identification No. 005-469-6064. Exact name of issuer as specified in its charter Philippine Business Bank, Inc., A Savings Bank5. Province, country or other jurisdiction of incorporation Caloocan6. Industry Classification Code(SEC Use Only) 7. Address of principal office 350 Rizal Avenue corner 8th Avenue Grace Park, Caloocan CityPostal Code14008. Issuer's telephone number, including area code [phone]9. Former name or former address, if changed since last report Not Applicable10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	643,750,094

11. Indicate the item numbers reported herein Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Philippine Business BankPBB PSE Disclosure Form 4-14 - Stock Rights Offering References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Approval of the Board of Directors of the Stock Rights Offering

Background/Description of the Disclosure

During the regular Board Meeting of Philippine Business Bank, Inc., A Savings Bank held on 17 August 2022, the Board of Directors approved the conduct of P1,750,000,000 stock rights offering at P10.00 per share, or par value, for the purpose of increasing capital and for general corporate requirements. Please note that the Rights Offer, the increase in the Company's authorized capital stock, and the listing of the Rights Shares are each subject to regulatory approvals. Given that this is an SRO, and subject to regulatory approval, there will be necessary adjustments to the Company's share price and outstanding shares.

Date of Approval by Board of Directors	Aug 17, 2022
Entitlement Ratio	1 Rights Share for every 3.6786 shares owned
Offer Price	Php10.00 per Rights Share
Number of Shares to be Offered	175,000,000
Ex-Rights Date	TBA
Record Date	TBA
Start of Offer Period	TBA
End of Offer Period	TBA

Use of Proceeds

The proceeds from the offer will be used primarily to increase PBB's capital to comply with minimum capital requirement for a universal bank license and for other general corporate purposes including but not limited to investments, loans, maintenance capex, operating expenses, and other opportunities. Proceeds from the offer will be used to increase the Bank's capitalization which will greatly expand the Bank's capability to develop more businesses and harness opportunities in the financial services space. The increase will also enable PBB to meet the growing demands of the banking business and positions the Bank to exploit opportunities as the economy rebounds.

Other Relevant Information

The stock rights offer is intended to be issued out of the P5.0 billion increase in the Bank's authorized capital stock, which was approved by PBB's Board of Directors and stockholders on April 20, 2022 and July 27, 2022, respectively.

Filed on behalf by:

Name	John David Sison
Designation	Investment Relations Officer/VP-Head