C01987-2025

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 26, 2025
2. SEC Identification Number
1177
3. BIR Tax Identification No.
000-768-480-000
4. Exact name of issuer as specified in its charter
Globe Telecom, Inc.
5. Province, country or other jurisdiction of incorporation
Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
The Globe Tower, 32nd Street corner 7th Avenue, Bonifacio Global City, Taguig City Postal Code 1634
8. Issuer's telephone number, including area code
(02)7797-2000
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 144,380,334
Total Debt (In Millions of Pesos) 249,460
11. Indicate the item numbers reported herein
Please refer to the relevant attachment.

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.

Globe Telecom, Inc.GLO

PSE Disclosure Form 4-22 - Joint Ventures References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Corporate Disclosure – Press Release entitled “Globe takes its IT arm, Yondu, to greater heights through a joint venture with technology services leader, NCS”
Background/Description of the Disclosure

Globe Telecom, Inc. (PSE: GLO), a leading digital platform in the Philippines with major interests in telecommunications, financial technology, corporate venture building, data insighting solutions and digital marketing, with the cooperation of NCS Pte. Ltd. (NCS), entered into an agreement with NCSI Holdings Pte. Ltd. (NCSI) to hold 51% ownership in Globe’s subsidiary, Yondu, Inc. (Yondu), as well as Yondu’s acquisition of NCSI Philippines (NCSI PH) from NCSI, making NCSI PH a fully owned subsidiary of Yondu. Upon closing, Globe will retain 49% ownership in Yondu and NCSI PH.

The resulting joint venture will have an Enterprise Value of Php 1,868Mn.
We submit this information in accordance with our corporate governance standards and pertinent disclosure rules and regulations.
Date of Approval by Board of Directors Mar 26, 2025
Date of Approval by Stockholders, if applicable N/A
Description and nature of the transaction including the timetable for implementation, and related regulatory requirements

Under the agreement between Globe Telecom, Inc. (“Globe”), NCSI Holdings Pte. Ltd (“NCSI”) and Yondu Inc. (“Yondu”), Yondu shall become a joint venture of NCSI and Globe, with NCSI having 51% ownership, with the balance to Globe. Yondu will simultaneously acquire 100% ownership of NCSI (Philippines) Inc. (“NCSI PH”), currently a subsidiary of NCSI.
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

The combined resources and capabilities of Yondu and NCS are envisioned to transform the joint venture into a Pan-APAC player equipped with global expertise and an innovation sandbox that would facilitate idea sharing and co- development of assets based on Globe and NCS’ intellectual properties.
Terms and conditions of the joint venture
Amount of investment and/or interest by the parties involved

Under the agreement, NCSI shall acquire Yondu shares from Globe and further subscribe to new shares in Yondu to obtain 51% ownership, with Globe to retain 49% ownership in Yondu.

Simultaneously,Yondu shall acquire 100% of NCSI PH.
Provisions on profit-sharing, arrangements on management and operations

Globe will retain 49% ownership of Yondu, while NCSI will obtain 51% ownership.

Globe stands to benefit from the JV by providing an expansive set of technical capabilities and product offerings from the combined resources of Yondu and NCSI Philippines. The JV is also expected to support Globe’s market reach by providing access to a wider market both by geography and by sector.
Conditions precedent to closing of transaction, if any

Approvals and other conditions customary to similar transactions.
Other salient features of the joint venture agreement

N/A
Identity and/or corporate background of the parties to the transaction, including the following
Name Nature of Business Nature of any material relationship with the Issuer and the parties to the joint venture, their directors/officers or any of their affiliates
Globe Telecom, Inc. Digital platform with major interests in telecommunications, venture capital and venture building, shared services and digital marketing solutions Parent company of Yondu
Yondu Inc. Provides information technology (IT) services Subsidiary of Globe
NCSI Holdings Pte. Ltd. Holding Company Parent company of NCSI (Philippines), Inc.
Effect(s) on the business, financial condition and operations of the Issuer, if any

Globe will cease to consolidate Yondu’s financials in its consolidated financial statements and will not have a material impact on Globe’s business and consolidated revenues.
Other Relevant Information

This information is being disclosed in accordance with the disclosure rules of the Securities and Exchange Commission
and the Philippine Stock Exchange. Thank you very much.
Filed on behalf by:
Name Nina Mikaela Tacandong
Designation Senior Director - Legal Counsel