San Miguel Corporation (SMC) affiliate Bank of Commerce (“BankCom” or the “Bank”) has
decided to shorten the public offer period of its maiden peso bond issuance (“Series A Bonds”
or the “Bonds”) due to overwhelming demand from institutional and retail investors.

The Bank decided to end the offer period on 12 July 2022 instead of 22 July 2022. BankCom
priced its 2-year Series A Bonds on 08 July 2022 at 5.0263% per annum with a target issue size
of PHP 3 billion and an oversubscription option. Proceeds from the Bonds are intended for (1)
managing the Bank’s net interest margin by matching long-term assets with long-term funding to
reduce the Bank’s interest rate risk; (2) diversifying funding sources; and (3) general corporate
purposes.

The Series A Bonds is the maiden bond offering of the Bank and will be the first tranche under its
PHP 20 billion Peso Bond Programme.

The Bank appointed ING Bank N.V., Manila Branch (ING) and Philippine Commercial Capital, Inc
(PCCI). as Joint Lead Arrangers and Joint Bookrunners for this issuance. Bank of Commerce is
also acting as a Selling Agent for the offering, together with ING and PCCI.

The Bonds are exempt from registration under Section 9.1(e) of the Securities Regulation Code
and have not been registered with the Securities and Exchange Commission.