C03640-2023

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)
May 10, 2023
2. SEC Identification Number
77487
3. BIR Tax Identification No.
000-388-771
4. Exact name of issuer as specified in its charter
JOLLIBEE FOODS CORPORATION doing business under the name and style of Jollibee
5. Province, country or other jurisdiction of incorporation
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
10/F JOLLIBEE PLAZA BUILDING, 10 F. ORTIGAS JR. AVENUE, ORTIGAS CENTER, PASIG CITY Postal Code 1605
8. Issuer's telephone number, including area code
(632) 8634-1111
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 1,119,206,265
Treasury 16,447,340
Preferred Shares (JFCPA) 3,000,000
Preferred Shares (JFCPB) 9,000,000
11. Indicate the item numbers reported herein
-

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.

Jollibee Foods CorporationJFC

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

JFC Discontinues PHO24 Operations
to Focus on New Businesses
Background/Description of the Disclosure

Jollibee Foods Corporation (JFC), one of the largest Asian food service companies, today disclosed that the SuperFoods Group which owns Highlands Coffee and PHO24 signed agreements to transfer the assets of the PHO24 business to East-West Restaurant Concepts (Acquiring Company). PHO24 operates 14 stores (owned) in Vietnam. It also operates a pho factory in Vietnam. The franchise agreement for the operation of PHO24 stores in the Philippines was also terminated.

PHO24’s operating assets shall be transferred from SuperFoods Group to the Acquiring Company, which is a wholly-owned subsidiary of Viet Thai International Joint Stock Company (VTI). VTI is the partner of JFC’s wholly owned subsidiary, JSF Investments Pte. Ltd. (JSF) in the SuperFoods Group.

The JFC Group will concentrate its resources in building and growing its new businesses: Tim Ho Wan, Yoshinoya and Milksha.

The JFC Group has a joint venture agreement with the Tim Ho Wan Group to open and operate Tim Ho Wan restaurants in Mainland China. It opened its first Michelin-starred Tim Ho Wan restaurant in Shanghai’s Changning District in September 2020. Tim Ho Wan is targeting to open 100 restaurants within the next few years in China, which remains one of the JFC Group’s four pillar markets. It currently has 16 stores in Shanghai and 2 in Beijing.

In October 2021, the JFC Group completed its 50/50 joint venture with Yoshinoya International Philippines with a plan to open 50 stores in the Philippines in the long-term. Yoshinoya is a beef bowl business based in Japan and one of the largest and most recognized Japanese restaurant brands globally. The joint venture, Yoshinoya Jollibee Foods, Inc. is the franchisee of Yoshinoya in the Philippines. It has 7 stores in the country.

In February 2022, the JFC Group, through its wholly owned subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL) completed the acquisition of 51% stake in Milkshop International Co. Ltd. (Milkshop). Milkshop owns Milksha, a popular Taiwanese bubble tea brand with 283 outlets in Taiwan (260), Hong Kong (11), Australia (3), Canada (1), Singapore (7) and United Kingdom (1). The JFC Group, together with Milkshop’s Founder, plans to grow the Milksha brand globally.

JFC will continue to drive strong sustainable profitable growth of these new businesses, along with its other businesses in the years ahead.

At the end of January 2023, the JFC Group was operating 6,481 stores worldwide: 3,280 in the Philippines and 3,201 in international: 520 in China, 383 in North America, 305 in EMEAA, 639 with SuperFoods mainly in Vietnam, 1,071 for CBTL and 283 for Milksha. Its largest brands by store outlets worldwide are Jollibee with 1,585, CBTL 1,071, Chowking 613, Highlands Coffee 609, and Mang Inasal 573.
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Other Relevant Information

Please see attachment.
Filed on behalf by:
Name VALERIE AMANTE
Designation VICE-PRESIDENT