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 27, 2023

2. SEC Identification Number

34001

3. BIR Tax Identification No.

000-708-174-000

4. Exact name of issuer as specified in its charter

BDO Unibank, Inc.

5. Province, country or other jurisdiction of incorporation

Metro Manila

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

BDO Corporate Center, 7899 Makati Ave., Makati City Postal Code 0726

8. Issuer's telephone number, including area code

(632) 8840-7000 / 8702-6000

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

--

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	5,264,457,392
Preferred	618,000,000

11. Indicate the item numbers reported herein

Item 2

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.

BDO Unibank, Inc.BDO

PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Acquisition of shares in SM Keppel Land, Inc.
Background/Description of the Disclosure
Approval by BDO’s Board of Directors of the purchase of shares in SM Keppel Land, Inc.

Date of Approval by Board of Directors	Mar 25, 2023

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
In view of Keppel Philippines Properties, Inc.’s and Opon-KE Properties, Inc. (Keppel) decision to divest its investment in SM Keppel Land, Inc. (SMKL), BDO Unibank, Inc., as Keppel’s joint venture partner, has agreed to buy out Keppel’s 50% direct equity ownership in SMKL.

Details of the acquisition or disposition

Date	TBA

Manner
Direct purchase of shares
Description of the company to be acquired or sold
SM Keppel Land, Inc. is a company engaged in developing, operating, and managing the property known as the Podium Complex located at ADB Avenue, Ortigas Center, Mandaluyong City.

The terms and conditions of the transaction

Number of shares to be acquired or disposed	254,311,500
Percentage to the total outstanding shares of the company subject of the transaction	50
Price per share	Adjusted Net Asset Value at Closing

Nature and amount of consideration given or received
Cash payment based on adjusted net asset value at Closing
Principle followed in determining the amount of consideration
Net asset value at Closing, net of agreed adjustments
Terms of payment
Cash payment at Closing
Conditions precedent to closing of the transaction, if any
The transaction is subject to approval by the Bangko Sentral ng Pilipinas and Philippine Competition Commission and customary closing conditions for transactions of this nature.
Any other salient terms
The shares to be acquired is broken down as follows: 217,910,000 common shares and 36,401,500 redeemable preferred shares of SMKL.

Identity of the person(s) from whom the shares were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Keppel Philippines Properties, Inc.	N/A
Opon-KE Properties, Inc.	N/A

Effect(s) on the business, financial condition and operations of the Issuer, if any
None, other than consolidation of the financials of SMKL with BDO.
Other Relevant Information
None