SECURITIES AND EXCHANGE COMMISSION
SEC 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 11, 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 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 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), through 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) 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.

Date of Approval by Board of Directors	May 10, 2023

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
The JFC Group will concentrate its resources in building and growing its new businesses: Tim Ho Wan, Yoshinoya and Milksha.

Details of the acquisition or disposition

Date	May 10, 2023

Description of the Transaction
JFC, through the SuperFoods Group transferred PHO24’s operating assets to Acquiring Company.
Manner
The Parties executed transfer agreements covering operating assets related to Pho24 business.
Description of the assets involved
Operating assets related to the PHO24 business.

Terms and conditions of the transaction

Nature and amount of consideration given or received
Less than 1% of the total assets of the company as of April 30, 2023.
Principle followed in determining the amount of consideration
Appropriate financial and operational due diligence customary to this kind of transaction and acceptable to both parties.
Terms of payment
100% of the consideration will be paid through cash.
Conditions precedent to closing of the transaction, if any
The transfers are subject to certain closing conditions such as the transfer of material contracts, among others.
Any other salient terms
None.

Identity of the person(s) from whom the assets 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
East-West Restaurant Concepts Limited Liability Company	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

Effect(s) on the business, financial condition and operations of the Issuer, if any
The disposition will allow the JFC Group to concentrate its resources in building and growing its new businesses: Tim Ho Wan, Yoshinoya and Milksha
Other Relevant Information
None

If the transaction being reported is an acquisition, kindly submit the following additional information:

Source(s) of funds
n/a
If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes
n/a