BPI RISE Bonds due 2024

*in increments of Php 100,000
**Subject to 20-25% final withholding tax or such other rates as may be required by law or regulations.

*** Subject to change at the discretion of the Issuer and Joint Lead Arrangers.

Bank of the Philippines Islands ("BPI") launches its 1.5-year Peso-denominated Bond ("the "Bonds") with an option for early redemption, the first tranche under BPI’s Php 100,000,000,000.00 Bond Program (the “Program”).

Indicative Summary of the Offer

Issuer	Bank of the Philippine Islands (“BPI”)
Issue and Ranking	Fixed rate bonds constituting the direct, unconditional, unsecured and unsubordinated obligations of BPI
Issue Size	Php 5.00 billion with the option to upsize
Offer Period	January 9, 2023 to January 13, 2023
Maturity Date	July 30, 2024 or 1.5 years from Issue Date
Issue Date	January 30, 2023
Tenor	1.5 years
Issue Price	At par (or 100% of face value)
Interest Period and Interest Payment Date	Quarterly Payments, 30/360 count basis
Early Redemption	The Bonds shall be available for early redemption by the Issuer on the first (1^st) anniversary of the Issue Date and every interest payment thereafter; at par or 100% of face value.
PDIC Coverage	Not applicable
Use of Proceeds	Shall be used to finance or refinance the business requirements of eligible MSMEs¹ in line with BPI's Sustainable Funding Framework.
Taxation	Subject to 20% or 25% final withholding tax or such other rates as may be required by law or regulations
Joint Lead Arrangers	BPI Capital Corporation (“BPI Capital”)² ING Bank N.V., Manila Branch (“ING”)
Sole Selling Agent	BPI Capital Corporation
Registrar, Depository, and Paying Agent	Philippine Depository & Trust Corp. (“PDTC”)
Trustee	Development Bank of the Philippines – Trust Banking Group (“DBP-Trust”)
Market Maker	ING Bank N.V. Manila Branch ("ING")
Listing	The Bonds will be listed on the Philippine Dealing & Exchange Corp. (“PDEx”). All secondary trades are to be executed on PDEx.

Notes:

1 MSMEs, primarily comprised of (i) wholesale and retail trade, repair of motor vehicles; (ii) accommodation and food service activities; (iii) manufacturing; (iv) other service activities; and (v) financial and insurance activities.

²BPI Capital is a wholly owned subsidiary of BPI.

1. Visit any BPI branch during the Public Offer Period and request for the forms to invest in BPI Reinforcing Inclusive Support for MSMEs Bonds (BPI RISE Bonds). Be sure to bring one (1) valid government-issued I.D.

2. Fill out all the necessary details and submit the complete documentary requirements.

3. Give the cash to be invested to the branch personnel. If it will be debited from your account, please make sure that your account is funded.

For more information, you may refer to the Offering Circular and the Pricing Supplement, or visit any BPI branch.

THESE OFFERING CIRCULAR AND PRICING SUPPLEMENT (the “OFFERING MATERIALS”) ARE BEING DISPLAYED ON THIS WEBSITE TO MAKE THE OFFERING MATERIALS ACCESSIBLE TO INVESTORS IN THE PHILIPPINES AND ARE TO BE VIEWED EXCLUSIVELY WITHIN THE PHILIPPINES.

The Offering Materials on this website are intended to be available only to Philippine and non-Philippine citizens residing in the Philippines, corporations organized under Philippine law and juridical entities licensed to transact business in the Philippines. The Offering Materials are not intended for distribution outside the Philippines. If you have gained access to this transmission contrary to the foregoing restrictions, you will be unable to purchase any of the securities described herein.

The Offering Materials and the information contained herein are subject to completion or amendment without notice. Under no circumstances shall these Offering Materials constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any offer, solicitation or sale of the securities in any jurisdiction where such offer, solicitation, or sale is not permitted.

THE BONDS REFERRED TO IN THIS COMMUNICATION ARE SECURITIES EXEMPT FROM REGISTRATION UNDER SECTION 9.1(E) OF THE SECURITIES REGULATION CODE AND WILL ACCORDINGLY NOT BE REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION. FURTHERMORE, THE BONDS ARE NOT DEPOSIT INSTRUMENTS AND ARE NOT INSURED BY THE PHILIPPINE DEPOSIT INSURANCE CORPORATION. (“PDIC”).

This announcement is subject to change/completion and is not an offer for sale of the Bonds or a solicitation of an offer to buy the Bonds. Prospective investors should refer to the Final Offering Circular dated January 5, 2023 (“Offering Circular”) and the Pricing Supplement dated January 5, 2023 (the “Pricing Supplement”) for full details on the Program and the Bonds. BPI and the Joint Lead Arrangers reserve the right to adjust the Offer Period and the Issue and Listing Date. All terms are subject to the Offering Circular and Final Pricing Supplement.

This does not purport to, and does not, contain all of the information that may be required to evaluate factors relevant to a recipient making any investment decisions. Each recipient should make its own independent appraisal of, and investigation into, the financial condition, risks, creditworthiness, affairs, status and nature of BPI as the basis of any investment decision.

None of the information should be interpreted as investment advice of any kind and should not be used as the basis for any financial decision to invest in the Bonds or any securities or participation in any transaction. Prospective investors should consult their own counsel, accountants, or other advisors as to legal, tax, business, financial, and related aspects of the purchase of the Bonds, among others. No warranty or representation, express or implied, is given as to the accuracy or completeness of that information. In no event will BPI, its affiliates, any of the Joint Lead Arrangers, the Sole Selling Agent, nor any of their respective directors, employees or advisors accept any liability with regard to the information contained herein.

BPI is regulated by the Bangko Sentral ng Pilipinas, https://www.bsp.gov.ph