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)

Mar 30, 2022

2. SEC Identification Number

36073

3. BIR Tax Identification No.

000-508-271-000

4. Exact name of issuer as specified in its charter

UNION BANK OF THE PHILIPPINES

5. Province, country or other jurisdiction of incorporation

METRO MANILA

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

UNIONBANK PLAZA, MERALCO AVENUE CORNER ONYX STREET, ORTIGAS CENTER, PASIG CITY Postal Code 1605

8. Issuer's telephone number, including area code

(02) 8667-6388

9. Former name or former address, if changed since last report

N/A

10. 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	1,524,918,059

11. Indicate the item numbers reported herein

ITEM 9 - OTHER EVENTS

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.

Union Bank of the PhilippinesUBP

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
Stock Rights Offering
Background/Description of the Disclosure
Please be informed that The Philippine Stock Exchange, Inc. (“PSE”) per its Notice of Approval issued on March 17, 2022, has approved the application of Union Bank of the Philippines (the “Bank”) to list additional shares of up to 800,000,000 common shares (“Rights Share”) with a par value of Php10.00, to cover its Stock Rights Offering (the “Offer”) to all stockholders of the Bank as of the record date of April 11, 2022, at an Offer Price of Php64.55 to Php73.78 per Right Share. The PSE also approved the following proposed timetable of the Offer activities of the Bank. On March 8, 2022, the Securities and Exchange Commission issued a Notice of Confirmation of Exempt Transaction confirming that the Offer is exempt from the registration requirements of the Securities Regulation Code. The market price and number of outstanding shares of the Bank will be adjusted on the ex-rights date. On December 23, 2021, the Board of Directors of the Bank approved the raising of additional capital of up to Php40 Billion through the issuance of additional shares from the Bank’s unissued authorized capital stock via a stock rights offering to all existing shareholders.

Date of Approval by Board of Directors	Dec 23, 2021
Entitlement Ratio	TBA
Offer Price	Php64.55 to Php73.78 per Right Share
Number of Shares to be Offered	up to 800,000,000
Ex-Rights Date	Apr 6, 2022
Record Date	Apr 11, 2022
Start of Offer Period	Apr 25, 2022
End of Offer Period	May 6, 2022

Use of Proceeds
The Bank intends to use the proceeds from the Rights Offer primarily to fund the Bank’s acquisition of the consumer banking business of Citigroup, Inc. in the Philippines, and if any amount of net proceeds is remaining, for general corporate purposes.
Other Relevant Information
N/A