C03627-2023

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
14829
3. BIR Tax Identification No.
000-164-757
4. Exact name of issuer as specified in its charter
Shell Pilipinas Corporation
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
41st Floor, The Finance Center, 26th Street corner 9th Avenue Bonifacio Global City, Brgy. Fort Bonifacio Taguig City, Metro Manila Postal Code 1635
8. Issuer's telephone number, including area code
+63234994001
9. Former name or former address, if changed since last report
Pilipinas Shell Petroleum Corporation
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 1,613,444,202
11. Indicate the item numbers reported herein
Item 9 - Other Events

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.

Shell Pilipinas CorporationSHLPH

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification of news article from Manila Bulletin Online Edition
Source Manila Bulletin Online Edition
Subject of News Report Shell earmarks fresh P6-B capex this year
Date of Publication May 9, 2023
Clarification of News Report

In the attached news article entitled “Shell earmarks fresh P6-B capex this year” posted in Manila Bulletin (Online Edition) on May 9, 2023, it was reported in part that:

“To propel organic growth, newly renamed Shell Pilipinas Corporation will roll out fresh capital outlay of P5 billion to P6.0 billion this year for the expansion of its mobility stations and other service-offers.

In a briefing with the media, Shell Vice President for Finance and Chief Risk Officer Reynaldo P. Abilo emphasized that ‘for 2023, we are planning to invest the same level - around P5 billion to P6 billion,’ and that is comparable to the P5.6 billion capital spending that the company had done last year.

He stated that the bulk of the capital outlay will be funneled into growing the firm’s mobility network at a scale that will reach 60 stations this year.

‘We will continue to grow our footprint profitably by about 40 to 60 sites; and at the same time, we are going to refresh some of our existing sites in order for them to have more and broader kind of mobility offer for our customers. We’re also ramping our investments in our supply chain,’ Abilo said.

. . . .

The company executive added part of the capex spending buildup they will pursue will be to complete the targeted loop of mid-range import facilities that they are strategically siting in various parts of the country.

‘We are on track in terms of having five (5) medium-range import facilities across the country by 2025,’ Abilo specified, noting that three of these assets are already operating, while the fourth one is under construction and the siting of the last one will soon be unveiled.

‘Our fourth import facility, which is going to be located in southern Davao, we have broken ground there in 2022 and we expect that to be completed by 2024,’ he conveyed.

. . . . ”

SHLPH confirms the article that it intends to invest P5 billion to P6.0 billion this year for the expansion of its mobility stations and its supply chain. Aside from opening new mobility sites, SHLPH will also revamp some of its existing sites to provide non-fuels retail offers such as lube bays, Shell Select convenience stores, Shell Cafe, among others.

 
Other Relevant Information

None
Filed on behalf by:
Name Mark Hadrian Gamo
Designation Legal Counsel & Corporate Secretary