Shakey Pizza Asia Ventures : Press Release

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) Apr 8, 20222. SEC Identification Number 546663. BIR Tax Identification No. 000-163-3964. Exact name of issuer as specified in its charter SHAKEY'S PIZZA ASIA VENTURES INC.5. Province, country or other jurisdiction of incorporation MANILA, PHILIPPINES6. Industry Classification Code(SEC Use Only) 7. Address of principal office 15KM EAST SERVICE ROAD CORNER MARIAN ROAD 2, BARANGAY SAN MARTIN DE PORRES, PARANAQUE CITYPostal Code17008. Issuer's telephone number, including area code (632) 8742 53979. Former name or former address, if changed since last report N/A10. 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	1,683,760,178

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.

Shakey's Pizza Asia Ventures, Inc.PIZZA PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

SHAKEY'S PIZZA BOUNCES BACK IN 2021 Returns to profitability boosted by strong 4Q; Expansion to accelerate in 2022, Systemwide sales to revert to pre-pandemic level with Potato Corner onboard

Background/Description of the Disclosure

• FY 2021 systemwide sales up 6%, with 4Q 2021 systemwide sales up 18% YoY • FY 2021 EBITDA more than doubles to Php 1.02B, finishes strongly with EBITDA margins of 18.6% • FY 2021 bottomline bounces back to profitability at Php 121M • Accelerates reopening play in 2021 with 37 stores opened, exceeding initial target of 30 stores; aims to expand 2022 store network by at least 42 stores sans Potato Corner • Continuing momentum into 2022, bringing Potato Corner into the fold to drive topline recovery. PC will open 3 new international territories and at least 150 new outlets Shakey's Pizza Asia Ventures, Inc (PSE: PIZZA), the Philippines' leading full-service restaurant chain, bounces back to profitability in 2021, posting higher systemwide sales and reversing its 2020 net loss. PIZZA reports 2021 systemwide sales of Php 7.01 billion, a growth of 6% versus the same period last year. Fourth quarter systemwide sales stands at Php 2.17 billion, up 18% year-on-year, with same-store sales growth (SSSG) registering at 5%. The Company saw a surge in dine-in as the holiday season kicked in amidst loosened quarantine restrictions in the fourth quarter. Earnings before interest, tax, depreciation, and amortization (EBITDA) lands at Php 1.02 billion for the year, more than double that of 2020's. EBITDA margins jumped to double-digit territory, improving from 8.8% to 18.6%. All business units report a positive bottomline for 2021, resulting in an unaudited net income of Php 121 million for PIZZA, reversing the net loss of Php 254 million reported in 2020. Given the strong performance in the fourth quarter, 4Q 2021 net income amounts to Php 156 million. Vic Gregorio, PIZZA's President and Chief Executive Officer, said, "The fourth quarter was quite significant for us. Quarantine restrictions were easing. The season was festive, and more guests were choosing to eat out with their families and friends to enjoy the complete dine-in experience. We took advantage of that to create momentum and were rewarded with a strong performance, a testament to the continued loyalty of our guests in our brands." "Despite the crisis in 2020, we maintained our long-term view on sustainable growth. We made a bold decision to re-ignite our expansion plan, purposefully investing in our brands and our stores. We believe that these continuous investments amidst the pandemic will fuel our 2021 growth momentum toward a stronger 2022 reopening play," Gregorio continued. PIZZA grew its store network in 2021, reaching 316 with the addition of 37 outlets. With this expansion, the Company has more than doubled the number of its Peri-Peri outlets since the brand's acquisition in June 2019. PIZZA has also built two stand-alone stores for its R&B milk tea franchise in Metro Manila. At the end of 2021, the Company also re-launched artisan pizza concept Project Pie, a build-your-own pizza restaurant originally introduced in 2013. Gregorio also said that cutting-edge delivery service remains to be a key pillar enabling the company's growth. The pandemic shifted consumer behavior, favoring off-premise channels. "With the extensive investments in our digital infrastructure, we aim to exceed guest expectations and elevate the Shakey's off-premise experience", he stated. Thus, during the second half of 2021, PIZZA launched its new and improved Shakey's Super App and its game-changing '31-Minute Delivery: If It's Late, It's Free' guarantee anywhere in Metro Manila. Moreover, the Company's recent acquisition of Potato Corner will further boost PIZZA's reopening play in 2022. PIZZA Chief Financial Officer Manny del Barrio sees 2022 systemwide sales and revenues return to pre-pandemic level, likely surpassing 2019 figures with the addition of Potato Corner.

Other Relevant Information

"We are excited with what Potato Corner can bring to the Company, especially as the brand celebrates its 30th anniversary this year. Potato Corner fits perfectly with our vision to build and scale a portfolio of industry-leading WOW brands with strong brand equity and industry-leading margins," said Del Barrio. For 2022, PIZZA is budgeting more than Php 650 million in capital expenditures, bulk of which is allocated to the acceleration of its store network expansion. PIZZA will open at least 192 stores for the group, including 42 new stores for existing brands and 150 outlets for Potato Corner. "With investments and acquisitions made even in the midst of the pandemic, barring any major disruptions, our 2023 bottomline can exceed pre-pandemic level," del Barrio added. Gregorio concluded, "The pandemic has brought a lot of challenges to our business, but we believe that crisis and opportunity are sides of the same coin. Over the past two years, we have learned many lessons that allowed us to remain resilient, and we do not want any of these to go to waste. To ensure our continued relevance and vitality, we need to think and act differently - to evolve and adapt as circumstances arise. In doing so, not only do we prepare ourselves for short-term headwinds, but we also position ourselves to bounce back and beyond pre-COVID levels, creating lasting value for our guests and producing strong returns in the medium-term and long-term." Forward Looking Statement The subject information may contain statements about future events and expectations that constitute "forward-looking statements." The forward-looking statements are subject to known and unknown risk and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Known uncertainties affecting forward looking statements includes (1) change in political climate, (2) regulatory risk, (3) foreign exchange risk, and (4) project completion risk. Lastly, such forward looking statements are made based on (i) management's current expectations and discussions with ABS Global Ltd., (ii) speak only as at the date of this information, (iii) nothing contained in the information should be relied upon as a promise or representation as to the future (iv) the authorization for agreement and engagement are still not definitive in nature as they are yet plans of the Company and may differ in the future. This disclosure is amended to reflect the following: 1. from "PC expects to open 3 new international territories and at least 150 new outlets." to "PC will open 3 new international territories and at least 150 new outlets." 2. from "Moreover, the Company's recent acquisition of Potato Corner is expected to further boost PIZZA's reopening play in 2022." to "Moreover, the Company's recent acquisition of Potato Corner will further boost PIZZA's reopening play in 2022." 3. from "'With investments and acquisitions made even in the midst of the pandemic, barring any major disruptions, we see our 2023 bottomline exceeding pre-pandemic level,' del Barrio added." to "With investments and acquisitions made even in the midst of the pandemic, barring any major disruptions, our 2023 bottomline can exceed pre-pandemic level," del Barrio added. 3. The attached document was changed to reflect the correct Subject of the Disclosure. Refer to attachment.

Filed on behalf by:

Name	Manuel Del Barrio
Designation	Chief Information Officer