Mitsui & Co., Ltd. (TSE:8031), Metro Pacific Holdings, Inc., GT Capital Holdings, Inc. (PSE:GTCAP), and Manuel V. Pangilinan entered into a Memorandum of Agreement to acquire 36.6% stake in Metro Pacific Investments Corporation (PSE:MPI) from Republic of the Philippines Social Security System, Government Service Insurance System and others for approximately PHP 48.67 billion on April 26, 2023. The offer is for all the remaining minority shareholders at the PHP 4.63 per share. As of July 4, 2023, the offer price per share has been increased to PHP 5.2 cash per MPIC common share. The tender offer price takes into consideration the PSE?s voluntary delisting rules and represents a premium of 22% over the 12-months volume-weighted average trading price of MPIC on the PSE. The tender offer will be conditional on sufficient acceptances being received as will permit the voluntary delisting of Metro Pacific Investments from the PSE, Independent Shareholders? approval, Philippine Competition Commission, applicable legal and regulatory requirements, is not subject to compulsory notification under the Philippine Competition Act. As of August 8, 2023, Shareholders of Metro Pacific Investments Corporation (?MPIC?) have voted to permit a Voluntary Delisting of MPIC shares from the Philippine Stock Exchange (?PSE?) subject to a successful tender process. Pursuant to the shareholder approval for the Voluntary Delisting of MPIC shares, a delisting tender offer process will be launched on 9th August 2023, to acquire shares from minority shareholders at a ?best and final? price of 5.20 pesos per share. The delisting tender offer is expected to end on or about September 7, 2023. The offer will commence in late May 2023 and closing of the offer is planned in late June 2023. As of July 4, 2023, the offer period will commence in early August 2023 and close in early September 2023. As of September 7, 2023, based on the report of the Tender Offer Agent, a total of 5,364,783,661 MPIC common shares have been tendered equivalent to 18.7% of MPIC?s total issued and outstanding listed shares. The Tender Offer period shall be extended from September 7 to September 19, 2023. UBS Investments Philippines, Inc. and UBS Securities Japan Co., Ltd. acted as international financial advisor and First Metro Investment Corporation (?FMIC?) are acted as domestic financial advisor, respectively, to the Bidders on this transaction.

Mitsui & Co., Ltd. (TSE:8031), Metro Pacific Holdings, Inc., GT Capital Holdings, Inc. (PSE:GTCAP), and Manuel V. Pangilinan completed the acquisition of 36.6% stake in Metro Pacific Investments Corporation (PSE:MPI) from Republic of the Philippines Social Security System, Government Service Insurance System and others on September 19, 2023.