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 20, 2023

2. SEC Identification Number

A200110402

3. BIR Tax Identification No.

213-054-503-000

4. Exact name of issuer as specified in its charter

SBS PHILIPPINES CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

10 RESTHAVEN STREET, SAN FRANCISCO DEL MONTE, QUEZON CITY Postal Code 1105

8. Issuer's telephone number, including area code

02 8371-1111

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 SHARES	1,549,999,999

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.

SBS Philippines CorporationSBS

PSE Disclosure Form 6-2 - Declaration of Stock Dividends References: SRC Rule 17 (SEC Form 17-C) and
Sections 6 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Declaration of stock dividends by SBS Philippines Corporation
Background/Description of the Disclosure
The Board of Directors has approved on March 20, 2023 the declaration of stock dividend equivalent to 22% of the Company's outstanding capital stock, amounting to 341,000,000 common shares with par value of Php 341,000,000.00. The stock dividend declaration will be submitted for approval of the shareholders in its Annual Shareholders' Meeting to be held on June 30, 2023. The record date and payment date shall be set after approval of the shareholders and relevant regulatory agencies has been obtained by the Corporation. The stock dividends declared will be issued pursuant to the increase in the authorized capital stock.

Type of Securities

• Common
• Preferred-
• Others-

Stock Dividend

Date of Approval by Board of Directors	Mar 20, 2023
Date of Approval by Stockholders	TBA
Other Relevant Regulatory Agency, if applicable	n/a
Date of Approval by Relevant Regulatory Agency, if applicable	N/A
Date of Approval by Securities and Exchange Commission	TBA
Stock Dividend Rate	22% stock dividend rate

Source of Dividend Payment
Unrestricted retained earnings as of December 31, 2022.

Source of Shares for Distribution	To be taken from the unissued capital stock Number of Shares to be Issued : - To be taken from an increase in authorized capital stock From: 1,550,000,000 To:2,750,000,000 Number of Shares to be Issued : 341,000,000 Others: - Number of Shares to be Issued : -
Record Date	TBA
Payment Date	TBA

Other Relevant Information
There will be necessary adjustments to the Company's share price and outstanding shares in relation to the stock dividends declared. Please see attached.