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) May 2, 20222. SEC Identification Number CS2015247123. BIR Tax Identification No. 009-192-8784. Exact name of issuer as specified in its charter WILCON DEPOT, INC.5. Province, country or other jurisdiction of incorporation QUEZON CITY, PHILIPPINES6. Industry Classification Code(SEC Use Only) 7. Address of principal office 90 E. RODRIGUEZ JR. AVENUE, UGON NORTE, QUEZON CITYPostal Code11108. Issuer's telephone number, including area code (02) 863483879. 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 4,099,724,116
11. Indicate the item numbers reported herein -

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.

Wilcon Depot, Inc.WLCON PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure

Clarification of news article posted in manilastandard.com on May 1, 2022.

Source manilastandard.com
Subject of News Report Wilcon Depot hikes 2022 capital expenditures by 83% to P3.95b to open 8 new stores, renovate old ones
Date of Publication May 1, 2022
Clarification of News Report

This refers to your request for clarification and/or confirmation to the news article entitled "Wilcon Depot hikes 2022 capital expenditures by 83% to P3.95b to open 8 new stores, renovate old ones" posted in manilastandard.com on May 1, 2022, which reported in part that:

"Wilcon Depot Inc. is raising its 2022 capital expenditures by 83 percent to P3.95 billion from P2.16 billion last year to roll out more stores and renovate existing outlets.

. . . .

It said of the P3.95-billion capital expenditures, 76 percent or P3.53 billion would be allotted for new store expansion and renovation of existing outlets.

The company also shifted to renewable energy for its power consumption as it plans to spend P236 million for solar panel project. The remaining P176 million will be set aside for IT infrastructure projects.

…."

We confirm the aforesaid statement of Ms. Lorraine Belo-Cincochan. As published in the Company's press release entitled Wilcon Posts P851M Q1 2022 Net Income, Up 41% YOY, she said that "we remained focused on our store network expansion, especially with this very encouraging first quarter results. We are on track to achieve our 100 - strong branch network by the end of 2025 goal." Accordingly, the performance of the Company posting 8.6% comparable sales growth and 41% net income growth in the first quarter has enabled the Company to pursue and continue with its planned store network expansion for the year of at least 8 new stores and start construction for the 2023 scheduled new stores.

Moreover, to clarify, the Company plans to spend P236 million for IT infrastructure projects and the remaining P176 million will be set aside for solar panel projects. As published in the 2021 Sustainability Report of the Company "to promote greater cost savings while minimizing our carbon footprint, Wilcon has started to roll out solar power solutions in 2016, including renewable energy into the energy mix of all our branches." And that 100% of branches to include solar power by 2024 and 15 additional branches for installation of solar power systems by 2022."

As for the IT infrastructure projects, in the news article entitled Wilcon Depot Champions Leadership and Transformation, published in Philippine Star on January 29, 2022, Ms. Rosemarie Ong, SEVP - COO of the Company said "In gearing up towards raising our standards in leadership and pursuing digital transformation in our business operations and strategies, we continue to steer our employees towards the direction of our values - loyalty to our customers and the company, integrity to all stakeholders, excellence in customer experience, innovation, customer delight, leadership, and collaboration." Accordingly, the Company is investing in various IT infrastructure projects to achieve its goal to deliver an excellent customer experience by innovating and personalizing its in-store and digital store shopping journey.

We trust that the Company has addressed your request for clarification.

Other Relevant Information

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Filed on behalf by:
Name SHEILA PASICOLAN - CAMERINO
Designation Compliance Officer

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Wilcon Depot Inc. published this content on 02 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2022 04:56:06 UTC.