PLDT : Clarification of News Reports

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 21, 20222. SEC Identification Number PW-553. BIR Tax Identification No. 000-488-7934. Exact name of issuer as specified in its charter PLDT Inc.5. Province, country or other jurisdiction of incorporation PHILIPPINES6. Industry Classification Code(SEC Use Only) 7. Address of principal office RAMON COJUANGCO BUILDING, MAKATI AVENUE, MAKATI CITYPostal Code12008. Issuer's telephone number, including area code (632) 8250-02549. 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
-	-

11. Indicate the item numbers reported herein -

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PLDT Inc.TEL 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 entitled "PLDT mulls hike in 2022 spending budget" posted in philSTAR.com

Source	philSTAR.com
Subject of News Report	"PLDT mulls hike in 2022 spending budget" posted in philSTAR.com on April 21, 2022
Date of Publication	Apr 21, 2022

Clarification of News Report

We confirm the statements of our Chairman, Mr. Manuel V. Pangilinan, that in the light of updated requirements particularly for the home broadband and data center businesses as well as additional requirements for the upgrade of the towers/passive infrastructure assets subject of the sale and leaseback transaction, we are anticipating an increase in our capex for 2022 which we initially guided at P76-80 billion. As indicated by our President and CEO, Mr. Alfredo S. Panlilio, we will provide a revised estimate of the overall capex expenditures for the year when we announce our first half results later this year. The recently announced tower sale and leaseback transaction of P77 billion will fund major cash requirements for 2022, including the additional capex, thus allowing us to avoid debt estimated at P24.5 billion. In addition, proceeds from the transaction will allow us to prepay debt of approximately P27.5 billion and an estimated savings of P2.6 billion in financing costs annually, as well as pay out special dividends of up to P9 billion. PLDT remains focused on maintaining superior customer experience, network leadership, cost optimization, and ultimately, the generation of positive free cash flows.

Other Relevant Information

Please refer to attachment for details.

Filed on behalf by:

Name	Abner Tito Alberto
Designation	Assistant Corporate Secretary