C04112-2023

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 23, 2023
2. SEC Identification Number
170957
3. BIR Tax Identification No.
000-533-224
4. Exact name of issuer as specified in its charter
FILINVEST LAND, INC.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
No. 79 EDSA, Highway Hills, Mandaluyong City, Metro Manila Postal Code 1550
8. Issuer's telephone number, including area code
(632) 7918-8188
9. Former name or former address, if changed since last report
Not applicable
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 24,249,759,506
Preferred 8,000,000,000
11. Indicate the item numbers reported herein
9

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.

Filinvest Land, Inc.FLI

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

Joint Venture Agreement between Filinvest Land, Inc. (“FLI”) and KMC Community Inc. (“KMC”)
Background/Description of the Disclosure

A Joint Venture Agreement for the development, management, operation, and maintenance of flexible workspace facilities offering private serviced office seats and co-working seats in commercial buildings, was executed by FLI and KMC, and was notarized on May 22, 2023.
Date of Approval by Board of Directors Apr 24, 2023
Date of Approval by Stockholders, if applicable N/A
Description and nature of the transaction including the timetable for implementation, and related regulatory requirements

A Joint Venture Agreement (“JVA”) between FLI and KMC (“Parties”) was executed to establish and operate a business for the development, management, operation, and maintenance of flexible workspace facilities offering private serviced office seats and co-working seats in commercial buildings.

Prior to execution of the JVA, FLI already caused the incorporation of the new company, which shall be the entity that will be utilized by the Parties in implementing the JVA. Except for registration with the Bureau of Internal Revenue and in the local government where it will operate, there are no other known regulatory requirements for the joint venture.
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

Co-working spaces are a rapidly growing industry that have been experiencing an increase in demand as of late. This growth is being driven by a number of factors, including the rise of remote work, increasing popularity for multiple office venues, and the growing demand for more conducive work environment. Further, due to the incentives allowed by the Philippine Board of Investments and the Philippine Economic Zone Authority to its locators, there is an ongoing shift in the manner that office spaces are used (traditional office) moving forward.

By entering into the Joint Venture Agreement, FLI can leverage the expertise and experience of KMC in the flexible co-working space industry. Secondly, by partnering with a company with a strong branding, FLI will be able to increase its brand awareness in the co-working space industry and be able to reach new markets and expand its operations to multiple locations.
Terms and conditions of the joint venture
Amount of investment and/or interest by the parties involved

Total Amount of Investment is One Hundred Million Pesos.

Under the JVA, FLI and KMC shall subscribe to 70% and 30%, respectively of the authorized capital stock of the Joint Venture Company.
Provisions on profit-sharing, arrangements on management and operations

Profit sharing will be based on equity interest participation in the Joint Venture Company. Subject to the approvals required under the Revised Corporation Code, KMC shall be appointed to manage the business on such terms and conditions as may be agreed upon by the Parties.
Conditions precedent to closing of transaction, if any

None.
Other salient features of the joint venture agreement

None.
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
KMC Community Inc. Co-working Spaces None
Effect(s) on the business, financial condition and operations of the Issuer, if any

The transaction has no material effect on FLI’s business, financial condition and operations.
Other Relevant Information

None.
Filed on behalf by:
Name Katrina Clemente- Lua
Designation Corporate Secretary and Corporate Information Officer